TVS Motor Company Ltd

₹ 1,864 2.17%

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]

Website BSE NSE

Market Cap ₹ 88,542 Cr.
Current Price ₹ 1,864
High / Low ₹ 1,876 / 968
Stock P/E 50.1
Book Value ₹ 148
Dividend Yield 0.27 %
ROCE 26.6 %
ROE 26.2 %
Face Value ₹ 1.00

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Pros

Company has been maintaining a healthy dividend payout of 21.0%

Cons

Stock is trading at 12.6 times its book value
Promoter holding has decreased over last 3 years: -7.13%

* 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

Sector: Automobile Industry: Automobiles - Motorcycles / Mopeds

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	4,605	5,391	5,322	3,934	5,619	5,706	5,530	6,009	7,219	6,545	6,605	7,218	8,145
	4,175	4,880	4,786	3,661	5,057	5,138	4,973	5,409	6,483	5,886	5,925	6,454	7,245
Operating Profit	430	511	536	274	563	568	557	599	737	659	680	764	900
OPM %	9%	9%	10%	7%	10%	10%	10%	10%	10%	10%	10%	11%	11%
	11	12	7	-29	3	6	8	22	1	6	70	58	46
Interest	41	29	20	30	35	28	33	38	35	32	36	47	52
Depreciation	133	133	137	143	154	155	159	152	154	158	167	164	170
Profit before tax	267	362	387	72	377	391	373	432	549	475	547	610	724
Tax %	27%	27%	25%	26%	26%	26%	26%	26%	26%	26%	25%	23%	26%
	196	266	289	53	278	288	274	321	407	353	410	468	537
EPS in Rs	4.13	5.59	6.09	1.12	5.84	6.07	5.78	6.75	8.58	7.42	8.64	9.84	11.29
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	7,142	7,169	7,966	10,042	11,105	12,135	15,175	18,210	16,423	16,751	20,791	26,378	28,513
	6,671	6,760	7,484	9,436	10,291	11,276	14,000	16,775	15,077	15,320	18,829	23,703	25,511
Operating Profit	471	409	482	607	813	859	1,175	1,435	1,346	1,430	1,962	2,675	3,002
OPM %	7%	6%	6%	6%	7%	7%	8%	8%	8%	9%	9%	10%	11%
	20	-67	27	30	100	171	99	6	-0	31	-11	101	181
Interest	57	48	25	27	49	44	57	81	102	142	126	141	168
Depreciation	118	130	132	153	236	288	339	399	489	494	611	631	659
Profit before tax	316	164	353	456	629	699	879	961	754	826	1,213	2,003	2,356
Tax %	21%	29%	26%	24%	22%	20%	25%	30%	21%	26%	26%	26%
	249	116	262	348	489	558	663	670	592	612	894	1,491	1,767
EPS in Rs	5.24	2.44	5.51	7.32	10.30	11.75	13.95	14.11	12.47	12.88	18.81	31.38	37.19
Dividend Payout %	25%	49%	25%	26%	24%	21%	24%	25%	28%	27%	20%	16%

Compounded Sales Growth
10 Years:	14%
5 Years:	12%
3 Years:	17%
TTM:	17%

Compounded Profit Growth
10 Years:	23%
5 Years:	17%
3 Years:	33%
TTM:	37%

Stock Price CAGR
10 Years:	42%
5 Years:	27%
3 Years:	55%
1 Year:	78%

Return on Equity
10 Years:	22%
5 Years:	21%
3 Years:	21%
Last Year:	26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	48	48	48	48	48	48	48	48	48	48	48	48	48
Reserves	1,122	1,177	1,368	1,598	1,911	2,361	2,833	3,300	3,571	4,123	4,775	6,000	6,986
	831	634	528	970	924	1,107	1,189	1,400	2,132	1,230	1,963	2,663	2,721
	1,114	1,276	1,622	1,989	2,069	2,389	3,087	3,622	3,604	4,797	5,118	5,281	6,349
Total Liabilities	3,114	3,136	3,565	4,605	4,952	5,905	7,156	8,369	9,353	10,197	11,902	13,992	16,104
	1,026	1,011	1,126	1,330	1,720	1,984	2,372	2,579	2,900	3,010	3,307	3,596	4,145
CWIP	53	36	48	89	31	62	131	257	285	279	424	628	300
Investments	931	869	896	1,012	1,215	1,588	2,035	2,301	2,606	3,315	4,716	5,684	6,695
	1,105	1,219	1,495	2,173	1,987	2,271	2,618	3,232	3,562	3,594	3,455	4,085	4,963
Total Assets	3,114	3,136	3,565	4,605	4,952	5,905	7,156	8,369	9,353	10,197	11,902	13,992	16,104

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	441	433	524	85	941	724	1,297	1,098	1,394	2,561	1,498	1,993
	-381	-107	-260	-493	-608	-748	-1,131	-1,002	-1,289	-921	-2,141	-2,312
	-195	-322	-198	331	-306	-73	-75	81	271	-1,196	113	225
Net Cash Flow	-135	4	66	-78	27	-97	91	177	375	445	-530	-94

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	11	16	15	18	19	22	23	28	28	19	17	13
Inventory Days	41	36	35	41	32	40	32	31	31	33	26	23
Days Payable	49	57	64	74	71	77	82	77	87	112	93	75
Cash Conversion Cycle	2	-5	-14	-15	-20	-15	-27	-18	-27	-60	-50	-40
Working Capital Days	-2	-5	-8	7	-7	-2	-12	-5	-13	-43	-33	-23
ROCE %	20%	16%	20%	21%	23%	23%	24%	24%	17%	17%	22%	27%

Shareholding Pattern

Numbers in percentages

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	57.40%	57.40%	52.26%	52.26%	52.26%	50.81%	50.81%	50.81%	50.27%	50.27%	50.27%	50.27%
	11.15%	12.34%	13.96%	12.77%	12.86%	11.97%	9.85%	12.64%	14.45%	17.02%	18.13%	18.51%
	21.47%	20.84%	24.26%	25.15%	25.46%	28.51%	30.74%	27.61%	26.85%	24.39%	23.41%	23.10%
	9.99%	9.42%	9.52%	9.82%	9.42%	8.72%	8.60%	8.96%	8.44%	8.33%	8.19%	8.12%
No. of Shareholders	1,48,613	1,40,569	1,46,430	1,82,906	1,98,576	2,01,415	1,83,563	1,93,411	1,94,305	1,94,347	1,98,002	2,02,558

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
	57.40%	57.40%	57.40%	57.40%	57.40%	50.81%	50.27%	50.27%
	18.50%	20.18%	15.92%	11.37%	12.34%	11.97%	17.02%	18.51%
	12.49%	10.59%	15.83%	21.20%	20.84%	28.51%	24.39%	23.10%
	11.61%	11.83%	10.85%	10.04%	9.42%	8.72%	8.33%	8.12%
No. of Shareholders	1,06,281	1,22,637	1,38,397	1,31,903	1,40,569	2,01,415	1,94,347	2,02,558

* 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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