TVS Electronics Ltd

About [ edit ]

TVS Electronics Ltd manufactures and sells Point of sale devices, Printers, Keyboards, etc. besides providing service for various Original Equipment Manufacturers via delivery models like exclusive service centers, multi brand service centers, Onsite support, repair centers and factories.^#

Key Points [ edit ]

Products & Solutions Vertical (52% of revenues)^#
The company manufactures and trades various transaction automation products that include Dot Matrix Printers, Mechanical Keyboards, Thermal Printers, Label Printers, Barcode Scanners and others.^#
It caters to various sectors viz. Retail – SME, Government, BFSI, Hospitality, Healthcare, E-commerce and Transport, Large Format Retail (LFR) Stores and Quick Service Restaurants (QSR).^#
The company has 37% market share in Dot Matrix Printers in the domestic market. The market share for thermal printers, label printers and QR code scanners is 24%, 14% and 19% respectively.^#
Under this segment, It earns 52% of revenues from sale of manufactured goods while the rest 48% is contributed by trading of computer printers/ keyboards.^#

Website BSE NSE

Market Cap ₹ 249 Cr.
Current Price ₹ 133
High / Low ₹ 192 / 66.0
Stock P/E
Book Value ₹ 38.5
Dividend Yield 1.13 %
ROCE 6.05 %
ROE 3.05 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 257.34%

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -0.85% over past five years.
Company has a low return on equity of 10.61% for last 3 years.
Debtor days have increased from 33.01 to 60.02 days.
Company's cost of borrowing seems high

Peer comparison

Sector: IT - Hardware Industry: Computers - Hardware

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
	1,080.18	1,937.83	739.35	55.31	56.67	62.08	72.36	70.88	53.40	29.02	60.68	62.54
	1,076.94	1,931.38	733.71	54.01	52.51	57.93	67.65	67.23	55.00	35.88	58.64	56.82
Operating Profit	3.24	6.45	5.64	1.30	4.16	4.15	4.71	3.65	-1.60	-6.86	2.04	5.72
OPM %	0.30%	0.33%	0.76%	2.35%	7.34%	6.68%	6.51%	5.15%	-3.00%	-23.64%	3.36%	9.15%
Other Income	1.14	1.51	-2.27	0.68	0.84	1.34	1.72	0.72	-1.95	0.30	1.27	0.24
Interest	0.24	0.11	0.10	0.12	0.08	0.39	0.72	0.67	0.58	0.87	0.68	0.21
Depreciation	-1.34	0.87	0.91	0.88	1.02	2.06	2.09	2.81	3.44	2.30	1.93	1.82
Profit before tax	5.48	6.98	2.36	0.98	3.90	3.04	3.62	0.89	-7.57	-9.73	0.70	3.93
Tax %	97.08%	33.95%	90.25%	34.69%	49.74%	35.20%	9.94%	4.49%	24.83%	-0.21%	20.00%	-4.83%
Net Profit	0.16	4.61	0.23	0.64	1.96	1.97	3.26	0.85	-5.69	-9.75	0.56	4.12
EPS in Rs	0.09	2.48	0.12	0.34	1.05	1.06	1.75	0.46	-3.05	-5.23	0.30	2.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
	191	190	182	217	235	247	270	594	2,519	4,107	2,757	259	206
	191	187	172	207	227	235	254	577	2,505	4,083	2,739	248	206
Operating Profit	-0	3	10	10	8	12	16	16	14	24	18	11	-1
OPM %	-0%	2%	5%	5%	4%	5%	6%	3%	1%	1%	1%	4%	-0%
Other Income	5	3	1	3	2	1	1	4	3	6	0	2	-0
Interest	5	7	6	7	10	7	7	6	3	1	0	2	2
Depreciation	5	4	4	5	6	6	7	9	6	4	4	10	9
Profit before tax	-6	-5	1	1	-5	1	3	5	9	24	14	-0	-13
Tax %	-13%	3%	-144%	1%	-59%	39%	28%	21%	27%	34%	48%	2,050%
Net Profit	-6	-5	2	1	-8	0	2	4	6	16	7	0	-11
EPS in Rs	-3.57	-2.75	0.87	0.79	-4.53	0.22	1.27	2.32	3.40	8.73	4.00	0.21	-5.77
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	15%	17%	38%	717%

Compounded Sales Growth
10 Years:	3%
5 Years:	-1%
3 Years:	-53%
TTM:	-22%

Compounded Profit Growth
10 Years:	10%
5 Years:	4%
3 Years:	-26%
TTM:	-190%

Stock Price CAGR
10 Years:	19%
5 Years:	7%
3 Years:	-32%
1 Year:	90%

Return on Equity
10 Years:	6%
5 Years:	10%
3 Years:	11%
Last Year:	3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Sep 2020
	18	18	18	18	18	18	18	19	19	19	19	19	19
Reserves	25	22	23	25	17	17	20	25	49	65	68	62	53
Borrowings	57	61	45	66	65	58	53	35	24	3	0	26	11
	47	34	32	43	42	40	51	79	292	949	78	71	64
Total Liabilities	148	135	118	152	141	134	142	157	383	1,036	165	178	147
	24	21	17	49	47	45	41	38	32	28	30	37	31
CWIP	0	0	0	1	0	0	0	0	0	0	0	1	0
Investments	15	15	26	8	2	1	1	0	7	5	16	1	1
	108	98	75	94	93	87	100	118	344	1,003	118	139	114
Total Assets	148	135	118	152	141	134	142	157	383	1,036	165	178	147

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
	2	18	24	4	10	13	10	27	20	40	-6	-6
	-14	-2	-11	-21	4	-3	-4	-3	-1	0	-16	17
	7	-3	-22	15	-10	-14	-8	-20	-12	-21	-7	-0
Net Cash Flow	-5	12	-9	-2	3	-4	-1	4	7	19	-29	11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	-0%	3%	8%	9%	4%	9%	11%	11%	13%	25%	21%	6%
Debtor Days	87	57	32	49	36	42	39	18	18	36	3	60
Inventory Turnover	8.27	8.03	8.39	9.19	8.81	9.87	7.86	13.79	24.80	12.47	10.15	4.04

Shareholding Pattern

Numbers in percentages

Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021
59.96	59.96	59.96	59.96	59.96	59.84	59.84	59.84	59.84	59.84	59.84	59.84
0.03	0.03	0.03	0.22	0.18	0.10	0.44	0.03	0.01	0.01	0.01	0.01
40.01	40.01	40.01	39.82	39.86	40.07	39.72	40.13	40.15	40.15	40.15	40.15

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TVS Electronics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Recent announcements

Annual reports