TVS Srichakra Ltd
TVSSC belongs to the TVS group of companies. The company is a leading manufacturer of 2W tyres in India and caters to both OEMs and aftermarket segments, and also manufactures OHT for the domestic and export markets. The company has two manufacturing plants, one each in Madurai in Tamil Nadu and Rudrapur in Uttarakhand.[1]
- Market Cap ₹ 2,993 Cr.
- Current Price ₹ 3,908
- High / Low ₹ 5,097 / 2,504
- Stock P/E 27.9
- Book Value ₹ 1,403
- Dividend Yield 0.82 %
- ROCE 9.23 %
- ROE 8.16 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 30.4%
- Debtor days have improved from 35.8 to 27.0 days.
Cons
- Stock is trading at 2.79 times its book value
- The company has delivered a poor sales growth of 6.76% over past five years.
- Company has a low return on equity of 7.49% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,453 | 1,652 | 1,938 | 2,176 | 2,185 | 1,961 | 2,152 | 2,431 | 2,104 | 1,939 | 2,543 | 2,985 | 2,844 | |
1,324 | 1,551 | 1,787 | 1,958 | 1,858 | 1,676 | 1,899 | 2,168 | 1,887 | 1,709 | 2,373 | 2,751 | 2,569 | |
Operating Profit | 129 | 101 | 150 | 219 | 326 | 284 | 253 | 263 | 217 | 230 | 170 | 234 | 275 |
OPM % | 9% | 6% | 8% | 10% | 15% | 14% | 12% | 11% | 10% | 12% | 7% | 8% | 10% |
5 | 33 | 2 | -7 | 23 | 5 | 15 | 12 | 10 | 5 | 4 | 4 | 10 | |
Interest | 57 | 62 | 50 | 33 | 22 | 22 | 31 | 37 | 39 | 33 | 34 | 44 | 43 |
Depreciation | 23 | 25 | 26 | 42 | 44 | 56 | 69 | 85 | 100 | 104 | 80 | 92 | 100 |
Profit before tax | 55 | 47 | 77 | 137 | 284 | 211 | 169 | 153 | 87 | 98 | 59 | 101 | 142 |
Tax % | 28% | 30% | 15% | 29% | 33% | 29% | 31% | 33% | 6% | 24% | 27% | 23% | |
39 | 33 | 65 | 98 | 190 | 148 | 116 | 103 | 82 | 74 | 43 | 78 | 106 | |
EPS in Rs | 51.18 | 35.51 | 73.89 | 130.11 | 243.09 | 192.79 | 151.68 | 134.44 | 107.53 | 96.54 | 56.77 | 101.85 | 139.13 |
Dividend Payout % | 26% | 21% | 22% | 26% | 25% | 26% | 26% | 30% | 19% | 31% | 29% | 32% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 7% |
3 Years: | 12% |
TTM: | -4% |
Compounded Profit Growth | |
---|---|
10 Years: | 18% |
5 Years: | -7% |
3 Years: | 0% |
TTM: | 53% |
Stock Price CAGR | |
---|---|
10 Years: | 29% |
5 Years: | 12% |
3 Years: | 30% |
1 Year: | 55% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 9% |
3 Years: | 7% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
Reserves | 133 | 154 | 206 | 275 | 404 | 553 | 631 | 721 | 737 | 817 | 963 | 1,027 | 1,067 |
402 | 297 | 383 | 274 | 145 | 315 | 312 | 426 | 351 | 208 | 610 | 662 | 703 | |
367 | 484 | 428 | 414 | 412 | 515 | 475 | 655 | 520 | 590 | 779 | 757 | 596 | |
Total Liabilities | 911 | 942 | 1,025 | 970 | 969 | 1,391 | 1,426 | 1,809 | 1,616 | 1,622 | 2,359 | 2,453 | 2,373 |
248 | 278 | 344 | 382 | 384 | 532 | 620 | 662 | 687 | 666 | 708 | 905 | 981 | |
CWIP | 22 | 31 | 20 | 18 | 44 | 63 | 26 | 34 | 48 | 63 | 226 | 145 | 152 |
Investments | 1 | 1 | 0 | 1 | 49 | 49 | 68 | 97 | 97 | 101 | 254 | 255 | 255 |
640 | 632 | 661 | 569 | 493 | 748 | 711 | 1,016 | 785 | 793 | 1,171 | 1,149 | 985 | |
Total Assets | 911 | 942 | 1,025 | 970 | 969 | 1,391 | 1,426 | 1,809 | 1,616 | 1,622 | 2,359 | 2,453 | 2,373 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
80 | 187 | 14 | 244 | 400 | 64 | 185 | 64 | 299 | 307 | -62 | 206 | |
-154 | 8 | -89 | -84 | -120 | -215 | -102 | -120 | -136 | -92 | -282 | -202 | |
78 | -159 | 38 | -158 | -271 | 149 | -79 | 52 | -169 | -215 | 348 | 0 | |
Net Cash Flow | 5 | 35 | -37 | 2 | 9 | -3 | 5 | -4 | -5 | 1 | 4 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 57 | 50 | 62 | 38 | 29 | 38 | 41 | 51 | 36 | 46 | 34 | 27 |
Inventory Days | 124 | 94 | 74 | 74 | 63 | 138 | 95 | 123 | 135 | 149 | 198 | 161 |
Days Payable | 104 | 115 | 77 | 52 | 34 | 67 | 50 | 83 | 70 | 102 | 102 | 85 |
Cash Conversion Cycle | 77 | 28 | 58 | 59 | 58 | 109 | 86 | 91 | 101 | 93 | 131 | 102 |
Working Capital Days | 56 | 30 | 42 | 26 | 19 | 51 | 47 | 60 | 52 | 47 | 72 | 47 |
ROCE % | 24% | 16% | 23% | 30% | 50% | 32% | 22% | 18% | 11% | 12% | 7% | 9% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1d
- Closure of Trading Window 2d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
26 Mar - Press release regarding a comprehensive brand focussing on the superior grip of Eurogrip tyres.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 20 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 20 Mar
Annual reports
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Financial Year 2023
from bse
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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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Financial Year 2010
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Concalls
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Aug 2022TranscriptNotesPPT
Business Segment
The company’s product portfolio includes tyres for 2/3-wheeler, Industrial Pneumatic, Farm and Implement, Skid-steer, Multi-purpose, etc. [1]