TVS Holdings Ltd

₹ 14,223 -1.27%

24 Apr - close price

sundaram-clayton.com BSE: 520056 NSE: TVSHLTD

About

Sundaram Clayton Ltd was incorporated in Chennai in 1962 and is part of the TVS group, led by Mr. Venu Srinivasan. It is engaged in the business of manufacturing and distributing aluminum die castings. ^[1] Sundaram Clayton manufactures non-ferrous gravity and pressure die castings.

Key Points

Business Overview^[1]
Co. received Core Investment Company (CIC) licence from the RBI in Mar 2024. It also had a spare parts trading (mainly TVSM parts) business, which generated revenue of Rs 300-400 crore per annum, but with nominal profitability. As part of the CIC approval, the spare parts trading business has ceased to exist from October 2024. Currently, the company holds 50.26% stake in TVS Motors Company Ltd which is valued over Rs 81,936 cr as on Sep 29, 2025.

Website BSE NSE

Market Cap ₹ 28,776 Cr.
Current Price ₹ 14,223
High / Low ₹ 16,297 / 8,805
Stock P/E 97.5
Book Value ₹ 811
Dividend Yield 0.65 %
ROCE 20.5 %
ROE 22.8 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 30.5% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 51.1%

Cons

Stock is trading at 17.5 times its book value
The company has delivered a poor sales growth of -14.8% over past five years.
Tax rate seems low

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Investment Company

Part of BSE 500 BSE Financial Services BSE 250 SmallCap Index BSE 400 MidSmallCap Index BSE Diversified Financials Revenue Growth BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	503	633	589	484	164	371	136	57	149	295	55	57	58
	442	448	485	347	128	135	106	25	21	16	19	13	12
Operating Profit	61	185	104	138	36	236	30	31	129	278	36	44	46
OPM %	12%	29%	18%	28%	22%	64%	22%	55%	86%	94%	66%	77%	79%
	23	31	-3	-2	2	37	0	0	1	6	0	0	-0
Interest	11	13	31	28	20	20	15	15	14	19	21	21	21
Depreciation	25	27	25	11	1	1	1	1	1	1	0	1	1
Profit before tax	48	176	45	97	17	251	15	16	115	264	15	22	24
Tax %	29%	9%	37%	14%	51%	13%	15%	23%	26%	9%	13%	13%	11%
	34	161	28	83	9	219	13	12	85	242	13	19	21
EPS in Rs	16.92	79.88	13.84	41.08	4.24	108.52	6.35	6.16	42.11	119.59	6.39	9.55	10.50
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,197	1,346	1,418	1,395	1,643	1,833	1,424	1,278	1,834	2,198	1,608	638	465
	1,088	1,223	1,278	1,261	1,630	1,653	1,183	1,026	1,508	1,825	1,095	169	61
Operating Profit	108	124	139	133	13	180	241	252	326	373	513	470	404
OPM %	9%	9%	10%	10%	1%	10%	17%	20%	18%	17%	32%	74%	87%
	41	58	110	76	94	98	-24	-4	2,121	100	34	6	6
Interest	36	37	32	29	34	55	55	48	45	46	99	63	82
Depreciation	53	60	55	61	73	92	93	78	102	100	38	2	2
Profit before tax	61	84	163	120	1	130	69	123	2,300	327	410	410	325
Tax %	12%	16%	11%	12%	-6,438%	8%	1%	38%	1%	16%	17%	14%
	54	71	144	106	55	120	69	76	2,277	273	339	352	295
EPS in Rs	26.56	35.23	71.50	52.27	27.19	59.24	34.01	37.54	1,127.07	135.20	167.69	174.34	146.03
Dividend Payout %	73%	54%	57%	60%	55%	61%	91%	69%	4%	44%	56%	53%

Compounded Sales Growth
10 Years:	-7%
5 Years:	-15%
3 Years:	-30%
TTM:	-35%

Compounded Profit Growth
10 Years:	18%
5 Years:	30%
3 Years:	25%
TTM:	-10%

Stock Price CAGR
10 Years:	24%
5 Years:	42%
3 Years:	63%
1 Year:	52%

Return on Equity
10 Years:	17%
5 Years:	16%
3 Years:	19%
Last Year:	23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	334	364	493	602	654	679	584	706	2,890	700	1,439	1,601	1,628
	362	378	369	354	666	724	720	674	765	3,017	550	945	944
	239	225	261	293	464	320	287	418	562	548	414	210	99
Total Liabilities	945	978	1,134	1,259	1,794	1,733	1,601	1,808	4,228	4,275	2,414	2,766	2,681
	397	409	435	495	617	747	733	713	671	623	14	10	10
CWIP	9	9	22	37	82	13	13	12	9	57	0	4	1
Investments	56	61	137	215	281	295	232	386	404	832	1,970	2,268	2,478
	483	499	539	513	812	677	623	698	3,143	2,764	429	485	192
Total Assets	945	978	1,134	1,259	1,794	1,733	1,601	1,808	4,228	4,275	2,414	2,766	2,681

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	91	85	129	169	-59	171	182	125	65	528	595	105
	-7	-41	-2	-62	-188	-98	56	-45	-106	-242	1,966	-191
	4	-62	-53	-107	124	89	-162	-106	21	-283	-2,473	211
Net Cash Flow	88	-18	75	-0	-123	162	76	-26	-20	3	88	126
Free Cash Flow	49	12	31	46	-301	17	158	70	6	429	1,232	108
CFO/OP	95%	72%	101%	135%	-418%	100%	76%	53%	28%	156%	123%	61%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	56	49	48	45	64	43	41	65	57	46	6	8
Inventory Days	116	105	123	129	162	132	162	198	157	114	3	0
Days Payable	85	67	82	99	170	87	108	180	150	128	39
Cash Conversion Cycle	87	87	89	76	56	88	96	84	64	33	-30	8
Working Capital Days	-5	4	4	6	-15	-4	62	70	40	34	-82	-109
ROCE %	13%	16%	23%	16%	3%	14%	11%	14%	9%	8%	17%	21%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TVS Credit - Annual Disbursements
INR Crores

x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx		xx.xx	xx.xx
									x.xx	x.xx
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TVS Credit - Assets Under Management (AUM)
INR Crores

Die Casting Sales Tonnage
Metric Tons (MT)

TVS Motor Company - Total Two-Wheeler and Three-Wheeler Sales
Lakh Units

PT TVS Indonesia - Two-Wheeler Sales
Million Units

DriveX Mobility COCO Stores
Number

DriveX Mobility Franchisee (FOFO) Stores
Number

SEMG (Swiss E-Mobility Group) Swiss Market Share
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%	74.45%
	0.97%	0.99%	1.13%	2.31%	2.53%	2.62%	2.65%	2.69%	2.84%	3.01%	3.13%	3.29%
	12.38%	12.56%	12.20%	11.19%	10.48%	10.31%	10.13%	10.28%	10.02%	9.87%	9.86%	9.83%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%
	12.22%	11.98%	12.21%	12.04%	12.53%	12.61%	12.73%	12.55%	12.68%	12.68%	12.56%	12.43%
No. of Shareholders	22,586	22,317	24,099	24,429	26,795	29,973	32,643	34,629	33,799	31,852	30,612	30,722

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	74.46%	74.47%	74.45%	74.45%	74.45%
	0.27%	0.48%	0.62%	0.74%	0.43%	1.12%	0.81%	2.31%	2.69%	3.29%
	15.27%	15.37%	15.39%	15.08%	14.47%	14.08%	12.59%	11.19%	10.28%	9.83%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%
	9.46%	9.15%	8.99%	9.18%	10.10%	10.33%	12.13%	12.04%	12.55%	12.43%
No. of Shareholders	16,265	16,830	17,018	17,302	17,379	21,910	22,913	24,429	34,629	30,722

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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TVS Holdings Ltd

TVS Holdings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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