Tata Motors bets on generation of free cash flow for debt reduction

A recovery in key markets of Jaguar and Land Rover —the US, Europe, China, the UK — coupled with cost curtailment efforts and tightly controlled capital expenditure will help Tata Motors group generate free cash flow at the business level and reduce debt to near-zero level, P B Balaji, chief financial officer, said at a recent investor meet organised by Motilal Oswal. 

The other two pillars include monetisation of non-core assets and infusion of additional equity, Balaji said.

JLR is seeing an additional boost from strong demand for the recently launched Evoque and Defender. This and a strong product pipeline is making