Maintains Equal-Weight With Target Price Of ₹715
JLR Q1 Volumes: Strong Mix Helps Party Offset Weak Volume & Tariff Headwinds
Mix Of High-Margin Models Improved To 77.2%
Expect JLR To Deliver Q1 EBITDA & EBIT Margin Of 11.4% & 5.9% Respectively
Expect Consolidated Business Margins To Decline 350 BPS (YoY)