Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

Tata Motors’ Q3/19-20 results were better than expected, with significant improvement in profitability. This was driven by the product mix, a continued recovery in China and better-than-guided cost savings. The financial risk profile has improved since end-September 2019, but remains weaker than that at FYE 2018-19. Liquidity remains adequate, especially at the JLR level. While we believe there will be a good chance that JLR’s operations will stabilise going forward, the coronavirus outbreak may change the situation. The continued rebound in sales in China (+24.3% in Q3/19-20) was a key driver for the performance in Q2 and Q3. Sales in China typically register above-average profitability as well. The new virus may hurt this recovery significantly; we suspect sales in China will collapse, at least in Q4.  While TML’s sales may rebound for a quarter or two due to the low system inventory, we believe this may be shortlived due to the sharp slowdown in the economy, with no sign of a turnaround so far. We do not expect any rating pressure (upwards or downwards) in the near future.

  Tata Motors’ Q3/19-20 results were better than expected, with significant improvement in profitability. This was driven by the product mix, a continued recovery in China and better-than-guided cost savings. The financial risk profile has improved since end-September 2019, but remains weaker than that at FYE 2018-19. Liquidity remains adequate, especially at the JLR level.   While we believe there will be a good chance that JLR’s operations will stabilise going forward, the coronavirus outbreak may change the situation. The continued rebound in sales in China (+24.3% in Q3/19-20) was a key driver for the performance in Q2 and Q3. Sales in China typically register above-average profitability as well. The new virus may hurt this recovery significantly; we suspect sales in China will collapse, at least in Q4.    While TML’s sales may rebound for a quarter or two due to the low system inventory, we believe this may be shortlived due to the sharp slowdown in the economy, with no sign of a turnaround so far.   We do not expect any rating pressure (upwards or downwards) in the near future. 

Tata Motors - Earnings Flash - Q3 FY 2019-20 Results - Lucror Analytics

Tata Motors Ltd

Tata Motors - Earnings Flash - Q3 FY 2019-20 Results - Lucror Analytics