We Are Closer to EV Becoming Mainstream

Despite posting a 22% fall in net profit for Q3, largely because of a fall in margin at JLR, Tata Motors management is upbeat about the next quarter. PB Balaji, group chief financial officer at Tata Motors, in a post-result interaction tells Swaraj Baggonkar that JLR is on track to be debt-free by year-end. Excerpts:

- Swaraj Baggonkar

What gives you the confidence that the full-year Ebit margin guidance of 8.5% at JLR will be achieved?

Q4 is seasonally the strongest quarter and we have 12 weeks of clean production available. Q4 volumes will be higher than Q3 volumes and that's what is giving us the confidence to deliver the 8.5% margin as well as going net debt free at JLR.

What is the outlook for China?

We continue to remain watchful in China. The reason why we see stress overall in China is because the premium market is doing almost 14% in April-December. We do see good recovery in the US and the UK. We are well hedged to manage the China risk.

What is the status of the undergoing corporate actions at Tata Motors?