- TTM, a dominant player in the Indian commercial vehicle market, is one of the most undervalued companies in the automotive industry with an A+ Value Grade.
- In the past, its market value was impacted by a slew of downside catalysts.
- In Q1 FY21, the company touched its multi-year revenue nadir, reporting a top-line result of only ?31,983 crores, which is equivalent to $4.23 billion, as plants were closed.
- FQ2 and September sales figures instill confidence the gloomiest days are behind.
- I like TTM's focus on debt reduction and FCF generation, but I prefer to take a neutral stance.
For further details see:
Tata Motors: FCF And Deleveraging Are Top Priorities