The rating agency expects operating margins of auto ancillaries to improve by 100-150 basis points (bps) year-on-year (YoY) in FY24, thus returning to pre-covid-19 levels of 11-11.5%.
Chaba says the company has always reinforced its commitment to national policies such as the 'Make in India initiative', and its push for battery electric vehicles (BEVs).
Global wholesales for JLR rose 5.7% QoQ and 15% YoY to 79,591 units with a significant increase in New Range Rover and New Range Rover Sport production.
With this, Kamarajar Port has become the fourth port, after Mumbai Port, Mundra Port and Pipavav Port, which will be used by the automobile manufacturer for the export of its vehicles globally.