IIPM, GURGAON
An exuberant Ratan Tata and his over exuberant Jaguar and Land rover (JLR) deal, both seems to have stuck themselves. It was last year when Tata went ahead and bought the two luxury car brands in an all cash deal ($2.3 billion). But what followed next shows the blunder Ratan Tata had done. Tata Motors which raised money from a consortium of 11 banks is liable to payback $2 billion bridge loan by June this year. Moreover, “revenue synergy is limited in the medium term (2-3 years),” avers Srinivas Rao, Analyst, Deutchse Equities India Pvt. Ltd. It is also estimated that the proforma profit before tax will come down by 5-10% in FY09. Besides, due to the recession the performance of the brands which was already low is expected to only go down further.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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