TVS Motor Company Ltd

₹ 1,040 -1.95%
29 Nov - close price
About

TVS Motor Company Ltd (TVSM) is engaged in manufacturing two-wheelers and its accessories; it currently manufactures a wide range of two-wheelers and three-wheelers. [1]

Key Points

Product Portfolio
Scooters: Popular offerings include TVS Jupiter 125, TVS Ntorq, TVS Jupiter, TVS Zest 110, TVS Scooty Pep+, etc.
Motorcycles Popular offerings include Apache RR 310, Apache RTR 165RP, TVS Apache RTR Series, TVS Raider, TVS Radeon, TVS Star City +, TVS Sport, etc
It also manufactures Mopeds, Electric, and Three Wheelers [1]

  • Market Cap 49,403 Cr.
  • Current Price 1,040
  • High / Low 1,177 / 513
  • Stock P/E 38.3
  • Book Value 116
  • Dividend Yield 0.36 %
  • ROCE 22.4 %
  • ROE 20.3 %
  • Face Value 1.00

Pros

  • Debtor days have improved from 21.4 to 16.7 days.

Cons

  • Stock is trading at 8.95 times its book value
  • The company has delivered a poor sales growth of 11.4% over past five years.
  • Promoter holding has decreased over last 3 years: -6.59%

* 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.

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
4,348 4,125 3,481 1,432 4,605 5,391 5,322 3,934 5,619 5,706 5,530 6,009 7,219
3,966 3,762 3,237 1,481 4,175 4,880 4,786 3,661 5,057 5,138 4,973 5,409 6,483
Operating Profit 382 363 245 -49 430 511 536 274 563 568 557 599 737
OPM % 9% 9% 7% -3% 9% 9% 10% 7% 10% 10% 10% 10% 10%
81 -75 -7 3 11 12 7 -29 3 6 8 22 1
Interest 28 21 23 52 41 29 20 30 35 28 33 38 35
Depreciation 124 121 124 91 133 133 137 143 154 155 159 152 154
Profit before tax 310 146 90 -190 267 362 387 72 377 391 373 432 549
Tax % 18% 17% 18% 27% 27% 27% 25% 26% 26% 26% 26% 26% 26%
Net Profit 255 121 74 -139 196 266 289 53 278 288 274 321 407
EPS in Rs 5.37 2.55 1.55 -2.93 4.13 5.59 6.09 1.12 5.84 6.07 5.78 6.75 8.58
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
6,288 7,142 7,169 7,966 10,042 11,105 12,135 15,175 18,210 16,423 16,751 20,791 24,465
5,890 6,671 6,760 7,484 9,436 10,291 11,276 14,000 16,775 15,077 15,320 18,829 22,004
Operating Profit 398 471 409 482 607 813 859 1,175 1,435 1,346 1,430 1,962 2,461
OPM % 6% 7% 6% 6% 6% 7% 7% 8% 8% 8% 9% 9% 10%
30 20 -67 27 30 100 171 99 6 -0 31 -11 37
Interest 72 57 48 25 27 49 44 57 81 102 142 126 134
Depreciation 107 118 130 132 153 236 288 339 399 489 494 611 620
Profit before tax 248 316 164 353 456 629 699 879 961 754 826 1,213 1,745
Tax % 22% 21% 29% 26% 24% 22% 20% 25% 30% 21% 26% 26%
Net Profit 195 249 116 262 348 489 558 663 670 592 612 894 1,291
EPS in Rs 4.10 5.24 2.44 5.51 7.32 10.30 11.75 13.95 14.11 12.47 12.88 18.81 27.18
Dividend Payout % 27% 25% 49% 25% 26% 24% 21% 24% 25% 28% 27% 0%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 5%
TTM: 21%
Compounded Profit Growth
10 Years: 14%
5 Years: 10%
3 Years: 11%
TTM: 42%
Stock Price CAGR
10 Years: 39%
5 Years: 7%
3 Years: 30%
1 Year: 51%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 18%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
48 48 48 48 48 48 48 48 48 48 48 48 48
Reserves 952 1,122 1,177 1,368 1,598 1,911 2,361 2,833 3,300 3,571 4,123 4,775 5,474
768 831 634 528 970 924 1,107 1,189 1,400 2,132 1,230 1,963 1,668
1,090 1,114 1,276 1,622 1,989 2,069 2,389 3,087 3,622 3,604 4,797 5,063 5,534
Total Liabilities 2,858 3,114 3,136 3,565 4,605 4,952 5,905 7,156 8,369 9,353 10,197 11,848 12,724
938 1,026 1,011 1,126 1,330 1,720 1,984 2,372 2,579 2,900 3,010 3,307 3,520
CWIP 57 53 36 48 89 31 62 131 257 285 279 424 213
Investments 661 931 869 896 1,012 1,215 1,588 2,035 2,301 2,606 3,315 4,716 5,082
1,201 1,105 1,219 1,495 2,173 1,987 2,271 2,618 3,232 3,562 3,594 3,401 3,910
Total Assets 2,858 3,114 3,136 3,565 4,605 4,952 5,905 7,156 8,369 9,353 10,197 11,848 12,724

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
234 441 433 524 85 941 724 1,297 1,098 1,394 2,561 1,498
-2 -381 -107 -260 -493 -608 -748 -1,131 -1,002 -1,289 -921 -2,141
-406 -195 -322 -198 331 -306 -73 -75 81 271 -1,196 113
Net Cash Flow -174 -135 4 66 -78 27 -97 91 177 375 445 -530

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 16 11 16 15 18 19 22 23 28 28 19 17
Inventory Days 42 41 36 35 41 32 40 32 31 31 33 26
Days Payable 53 49 57 64 74 71 77 82 77 87 112 92
Cash Conversion Cycle 5 2 -5 -14 -15 -20 -15 -27 -18 -27 -60 -50
Working Capital Days 1 -2 -5 -8 7 -7 -2 -12 -5 -13 -43 -32
ROCE % 18% 20% 16% 20% 21% 23% 23% 24% 24% 17% 17% 22%

Shareholding Pattern

Numbers in percentages

12 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
57.40 57.40 57.40 57.40 57.40 57.40 52.26 52.26 52.26 50.81 50.81 50.81
12.20 11.37 10.52 10.64 11.15 12.34 13.96 12.77 12.86 11.97 9.85 12.64
20.36 21.20 21.99 21.92 21.47 20.84 24.26 25.15 25.46 28.51 30.74 27.61
10.04 10.04 10.10 10.05 9.99 9.42 9.52 9.82 9.42 8.72 8.60 8.96

Documents

Concalls