TVS Motor Company Ltd

About [ edit ]

TVS Motor Company is engaged in the business of manufactures two wheelers, three wheelers, parts and accessories thereof.

  • Market Cap 30,568 Cr.
  • Current Price 640
  • High / Low 664 / 301
  • Stock P/E 49.9
  • Book Value 87.8
  • Dividend Yield 0.55 %
  • ROCE 17.6 %
  • ROE 15.7 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 26.69%

Cons

  • Stock is trading at 7.29 times its book value
  • The company has delivered a poor sales growth of 8.57% over past five years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
4,168 4,993 4,664 4,384 4,469 4,348 4,125 3,481 1,432 4,605 5,391 5,322
3,847 4,565 4,288 4,076 4,113 3,966 3,762 3,237 1,481 4,175 4,880 4,786
Operating Profit 321 428 376 308 356 382 363 245 -49 430 511 536
OPM % 8% 9% 8% 7% 8% 9% 9% 7% -3% 9% 9% 10%
Other Income 3 1 1 4 1 81 -75 -7 3 11 12 7
Interest 18 21 17 25 29 28 21 23 52 41 29 20
Depreciation 93 102 101 103 119 124 121 124 91 133 133 137
Profit before tax 212 306 258 184 209 310 146 90 -190 267 362 387
Tax % 31% 31% 31% 27% 32% 18% 17% 18% 27% 27% 27% 25%
Net Profit 147 211 178 134 142 255 121 74 -139 196 266 289
EPS in Rs 3.09 4.45 3.75 2.82 3.00 5.37 2.55 1.55 -2.93 4.13 5.59 6.09

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4,363 6,288 7,142 7,169 7,966 10,042 11,105 12,135 15,175 18,210 16,423 16,751
4,198 5,890 6,672 6,761 7,516 9,436 10,295 11,276 14,000 16,775 15,080 15,322
Operating Profit 165 398 469 408 450 607 810 859 1,175 1,435 1,344 1,429
OPM % 4% 6% 7% 6% 6% 6% 7% 7% 8% 8% 8% 9%
Other Income 89 30 22 -66 60 30 104 171 99 6 2 33
Interest 75 72 57 48 25 27 49 44 57 81 102 142
Depreciation 103 107 118 130 132 153 236 288 339 399 489 494
Profit before tax 76 248 316 164 353 456 629 699 879 961 754 826
Tax % -16% 22% 21% 29% 26% 24% 22% 20% 25% 30% 21% 26%
Net Profit 88 195 249 116 262 348 489 558 663 670 592 612
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
Dividend Payout % 32% 27% 25% 49% 25% 26% 24% 21% 24% 25% 28% 27%
Compounded Sales Growth
10 Years:10%
5 Years:9%
3 Years:3%
TTM:2%
Compounded Profit Growth
10 Years:12%
5 Years:6%
3 Years:-2%
TTM:-0%
Stock Price CAGR
10 Years:28%
5 Years:17%
3 Years:4%
1 Year:111%
Return on Equity
10 Years:21%
5 Years:20%
3 Years:18%
Last Year:16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
24 48 48 48 48 48 48 48 48 48 48 48
Reserves 842 952 1,122 1,177 1,368 1,598 1,911 2,361 2,833 3,300 3,571 4,123
Borrowings 1,003 768 831 634 528 970 924 1,107 1,189 1,400 2,022 1,159
849 1,090 1,114 1,276 1,622 1,989 2,069 2,389 3,087 3,622 3,721 4,867
Total Liabilities 2,717 2,858 3,114 3,136 3,565 4,605 4,952 5,905 7,156 8,369 9,361 10,197
956 938 1,026 1,011 1,126 1,330 1,720 1,984 2,372 2,579 2,900 3,176
CWIP 27 57 53 36 48 89 31 62 131 257 285 113
Investments 739 661 931 869 896 1,012 1,215 1,588 2,035 2,301 2,606 3,315
995 1,201 1,105 1,219 1,495 2,173 1,987 2,271 2,618 3,232 3,570 3,594
Total Assets 2,717 2,858 3,114 3,136 3,565 4,605 4,952 5,905 7,156 8,369 9,361 10,197

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
339 234 441 433 524 85 941 724 1,297 1,098 1,394 2,561
-285 -2 -381 -107 -260 -493 -608 -748 -1,131 -1,002 -1,289 -921
88 -406 -195 -322 -198 331 -306 -73 -75 81 271 -1,196
Net Cash Flow 142 -174 -135 4 66 -78 27 -97 91 177 375 445

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 11% 18% 20% 16% 20% 21% 23% 23% 24% 24% 17% 18%
Debtor Days 18 16 11 16 15 18 19 22 23 28 28 19
Inventory Turnover 10.45 11.45 9.62 9.67 10.88 10.80 10.64 10.75 11.64 13.04 11.04 11.62

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
57.40 57.40 57.40 57.40 57.40 57.40 57.40 57.40 57.40 57.40 57.40 57.40
19.96 18.37 15.85 15.92 15.72 13.20 12.20 11.37 10.52 10.64 11.15 12.34
11.08 12.84 15.11 15.83 16.37 19.01 20.36 21.20 21.99 21.92 21.47 20.84
11.57 11.39 11.64 10.85 10.52 10.39 10.04 10.04 10.10 10.05 9.99 9.42

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