TVS Motor Company Ltd
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]
- Market Cap ₹ 1,26,943 Cr.
- Current Price ₹ 2,672
- High / Low ₹ 2,958 / 1,918
- Stock P/E 57.5
- Book Value ₹ 179
- Dividend Yield 0.37 %
- ROCE 19.4 %
- ROE 28.9 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 27.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.3%
- Company has been maintaining a healthy dividend payout of 20.6%
Cons
- Stock is trading at 14.9 times its book value
* 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
Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty Next 50
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,384 | 10,256 | 11,377 | 12,463 | 16,340 | 20,160 | 18,849 | 19,421 | 24,355 | 31,974 | 39,145 | 44,089 | |
7,892 | 9,650 | 10,558 | 11,591 | 14,769 | 17,997 | 16,585 | 17,189 | 21,601 | 27,947 | 33,645 | 37,514 | |
Operating Profit | 492 | 605 | 819 | 871 | 1,571 | 2,163 | 2,264 | 2,232 | 2,755 | 4,027 | 5,500 | 6,575 |
OPM % | 6% | 6% | 7% | 7% | 10% | 11% | 12% | 11% | 11% | 13% | 14% | 15% |
44 | 80 | 93 | 163 | 71 | 25 | 12 | 36 | -5 | 136 | 106 | 99 | |
Interest | 80 | 62 | 70 | 60 | 338 | 663 | 855 | 881 | 940 | 1,368 | 1,928 | 2,093 |
Depreciation | 149 | 179 | 262 | 317 | 374 | 442 | 556 | 565 | 743 | 859 | 975 | 1,046 |
Profit before tax | 307 | 444 | 580 | 658 | 931 | 1,083 | 865 | 822 | 1,067 | 1,936 | 2,703 | 3,535 |
Tax % | 39% | 28% | 26% | 23% | 29% | 33% | 25% | 26% | 31% | 32% | 34% | 33% |
187 | 328 | 429 | 509 | 665 | 725 | 647 | 608 | 731 | 1,309 | 1,779 | 2,380 | |
EPS in Rs | 3.92 | 6.91 | 9.03 | 10.76 | 13.73 | 14.83 | 13.15 | 12.51 | 15.93 | 27.97 | 35.50 | 47.06 |
Dividend Payout % | 37% | 28% | 28% | 23% | 24% | 24% | 27% | 28% | 24% | 18% | 23% | 21% |
Compounded Sales Growth | |
---|---|
10 Years: | 16% |
5 Years: | 19% |
3 Years: | 22% |
TTM: | 13% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 28% |
3 Years: | 43% |
TTM: | 35% |
Stock Price CAGR | |
---|---|
10 Years: | 27% |
5 Years: | 52% |
3 Years: | 60% |
1 Year: | 30% |
Return on Equity | |
---|---|
10 Years: | 24% |
5 Years: | 25% |
3 Years: | 27% |
Last Year: | 29% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
Reserves | 1,113 | 1,277 | 1,771 | 2,169 | 2,630 | 3,123 | 3,235 | 3,779 | 4,352 | 5,457 | 6,736 | 8,456 |
728 | 1,119 | 1,091 | 1,311 | 6,928 | 9,298 | 11,591 | 12,179 | 15,827 | 22,376 | 26,006 | 14,676 | |
1,743 | 2,126 | 2,236 | 2,601 | 3,586 | 4,228 | 4,399 | 5,859 | 6,692 | 7,144 | 9,235 | 24,758 | |
Total Liabilities | 3,632 | 4,570 | 5,146 | 6,128 | 13,190 | 16,696 | 19,272 | 21,865 | 26,919 | 35,025 | 42,024 | 47,937 |
1,517 | 1,637 | 2,038 | 2,362 | 3,094 | 3,367 | 3,811 | 4,221 | 5,975 | 5,748 | 5,891 | 8,446 | |
CWIP | 48 | 93 | 47 | 64 | 313 | 745 | 1,006 | 1,041 | 552 | 743 | 1,033 | 664 |
Investments | 439 | 539 | 943 | 1,155 | 421 | 440 | 371 | 468 | 605 | 967 | 1,123 | 1,247 |
1,628 | 2,301 | 2,118 | 2,547 | 9,362 | 12,145 | 14,085 | 16,135 | 19,788 | 27,566 | 33,977 | 37,580 | |
Total Assets | 3,632 | 4,570 | 5,146 | 6,128 | 13,190 | 16,696 | 19,272 | 21,865 | 26,919 | 35,025 | 42,024 | 47,937 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
470 | 83 | 936 | 689 | 354 | -918 | 373 | 1,151 | -1,575 | -4,405 | -1,253 | 3,503 | |
-235 | -415 | -605 | -709 | -1,095 | -1,104 | -1,090 | -882 | -1,471 | -1,308 | -1,001 | -2,899 | |
-216 | 261 | -319 | -59 | 897 | 2,210 | 1,619 | 264 | 2,918 | 6,118 | 2,759 | 1,155 | |
Net Cash Flow | 19 | -71 | 12 | -79 | 156 | 188 | 902 | 532 | -128 | 406 | 505 | 1,759 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 15 | 15 | 16 | 21 | 24 | 28 | 28 | 19 | 18 | 14 | 17 | 14 |
Inventory Days | 41 | 51 | 40 | 47 | 34 | 34 | 35 | 39 | 37 | 34 | 34 | 33 |
Days Payable | 64 | 76 | 74 | 80 | 86 | 83 | 94 | 121 | 105 | 89 | 99 | 103 |
Cash Conversion Cycle | -7 | -11 | -18 | -12 | -28 | -21 | -31 | -63 | -50 | -41 | -48 | -56 |
Working Capital Days | -7 | 6 | -8 | -2 | 34 | 58 | 47 | 21 | 81 | 97 | 100 | 102 |
ROCE % | 19% | 21% | 22% | 22% | 19% | 16% | 13% | 11% | 11% | 13% | 15% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Monthly Business Updates
8h - TVS Motor reports 16% sales growth in April 2025; EV sales up 59%, exports up 45%, three-wheelers up 50%.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 Apr - Audio recording of Q4 FY25 results conference call now available on company website.
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Details Of Outstanding Qualified Borrowings And Incremental Qualified Borrowings For FY 2025
28 Apr - TVS Motor reports Rs 1,734.94 Cr borrowings end FY25; incremental Rs 800 Cr; credit rating AA+ Stable.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
28 Apr - Grant of 1,27,027 stock options under ESOP at market price on 25 April 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
28 Apr - TVS Motor posts record FY25 sales of 47.4L units, Rs.36,251 Cr revenue, 12.3% EBITDA margin, and Rs.2,711 Cr PAT.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from nse
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Financial Year 2012
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Financial Year 2011
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Concalls
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Jan 2025Transcript PPT
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Oct 2024TranscriptPPTREC
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Aug 2024TranscriptPPTREC
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May 2024TranscriptPPT
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Jan 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Jul 2023TranscriptPPT
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May 2023TranscriptPPT
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Jan 2023TranscriptPPT
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Nov 2022TranscriptPPT
Overview[1]
TVSM is one of the leading players in the two-wheeler industry and is the only company to have a presence in all the three categories, i.e., motorcycles, scooters, and mopeds, catering to both domestic and international
markets. TVSM is also the only company to have a presence in the moped segment for the domestic market.