TVS Srichakra Ltd

₹ 4,070 -0.25%

23 Oct - close price

tvstyres.com BSE: 509243 NSE: TVSSRICHAK

About

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]

Key Points

Business Segment
The company’s product portfolio includes tyres for 2/3-wheeler, Industrial Pneumatic, Farm and Implement, Skid-steer, Multi-purpose, etc. ^[1]

Website BSE NSE

Market Cap ₹ 3,118 Cr.
Current Price ₹ 4,070
High / Low ₹ 5,760 / 3,184
Stock P/E 30.4
Book Value ₹ 1,554
Dividend Yield 0.93 %
ROCE 7.85 %
ROE 5.75 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 45.7%

Cons

Stock is trading at 2.62 times its book value
Company has a low return on equity of 6.16% 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.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Tyres & Rubber Products

Part of BSE Consumer Discretionary BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	702	740	719	765	791	842	803	818	819	926	917	981	1,068
	642	649	650	688	736	783	758	752	771	861	838	894	987
Operating Profit	61	91	68	77	55	59	44	67	48	66	78	87	81
OPM %	9%	12%	10%	10%	7%	7%	6%	8%	6%	7%	9%	9%	8%
	3	-1	2	-6	-0	3	-5	-3	20	0	-13	10	13
Interest	12	10	10	13	13	13	14	14	14	12	12	12	12
Depreciation	24	26	27	28	29	31	32	37	34	36	36	37	37
Profit before tax	28	54	33	31	12	18	-6	12	20	18	17	48	45
Tax %	25%	28%	28%	22%	44%	43%	8%	22%	36%	40%	34%	25%	25%
	21	39	24	24	7	10	-6	10	13	11	11	36	34
EPS in Rs	27.36	51.09	31.47	31.06	8.72	13.46	-7.80	12.52	16.82	14.51	14.56	47.13	44.43
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,176	2,185	1,961	2,152	2,431	2,104	1,939	2,543	2,985	2,926	3,254	3,643	3,892
	1,958	1,858	1,676	1,899	2,168	1,887	1,709	2,373	2,751	2,625	3,024	3,358	3,580
Operating Profit	219	326	284	253	263	217	230	170	234	301	230	285	312
OPM %	10%	15%	14%	12%	11%	10%	12%	7%	8%	10%	7%	8%	8%
	-7	23	5	15	12	10	5	4	4	-2	-5	17	11
Interest	33	22	22	31	37	39	33	34	44	48	60	57	48
Depreciation	42	44	56	69	85	100	104	80	92	104	129	142	146
Profit before tax	137	284	211	169	153	87	98	59	101	146	37	103	129
Tax %	29%	33%	29%	31%	33%	6%	24%	27%	23%	26%	44%	31%
	98	190	148	116	103	82	74	43	78	108	21	71	92
EPS in Rs	130.11	243.09	192.79	151.68	134.44	107.53	96.54	56.77	101.85	140.98	26.92	93.02	120.63
Dividend Payout %	26%	25%	26%	26%	30%	19%	31%	29%	32%	34%	63%	41%

Compounded Sales Growth
10 Years:	5%
5 Years:	13%
3 Years:	7%
TTM:	19%

Compounded Profit Growth
10 Years:	-9%
5 Years:	-2%
3 Years:	-6%
TTM:	365%

Stock Price CAGR
10 Years:	1%
5 Years:	12%
3 Years:	2%
1 Year:	0%

Return on Equity
10 Years:	10%
5 Years:	6%
3 Years:	6%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	8	8	8	8	8	8	8
Reserves	275	404	553	631	721	737	817	963	1,027	1,104	1,176	1,183
	274	145	315	312	426	351	208	610	662	842	886	767
	414	412	515	475	655	520	590	779	757	739	906	1,082
Total Liabilities	970	969	1,391	1,426	1,809	1,616	1,622	2,359	2,453	2,694	2,976	3,039
	382	384	532	620	662	687	666	708	905	1,084	1,167	1,161
CWIP	18	44	63	26	34	48	63	226	145	143	98	67
Investments	1	49	49	68	97	97	101	254	255	260	392	414
	569	493	748	711	1,016	785	793	1,171	1,149	1,207	1,319	1,397
Total Assets	970	969	1,391	1,426	1,809	1,616	1,622	2,359	2,453	2,694	2,976	3,039

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	244	400	64	185	64	299	307	-62	206	228	197	297
	-84	-120	-215	-102	-120	-136	-92	-282	-202	-325	-154	-103
	-158	-271	149	-79	52	-169	-215	348	0	101	-47	-187
Net Cash Flow	2	9	-3	5	-4	-5	1	4	4	3	-3	7
Free Cash Flow	158	315	-157	81	-71	161	210	-347	206	228	202	297
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	130%	151%	42%	92%	43%	151%	142%	-21%	99%	88%	91%	111%

Ratios

Consolidated / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	38	29	38	41	51	36	46	34	27	35	39	41
Inventory Days	74	63	138	95	123	135	149	198	161	159	154	128
Days Payable	52	34	67	50	83	70	102	102	85	91	97	92
Cash Conversion Cycle	59	58	109	86	91	101	93	131	102	103	96	77
Working Capital Days	7	5	-0	-3	4	18	28	36	6	6	-13	-19
ROCE %	30%	50%	32%	22%	18%	11%	12%	7%	9%	11%	5%	8%

Insights

In beta

Mar 2016

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Aftermarket (Replacement) Revenue Share
%

	xx	xx	xx	xx	xx	xx
		xx	xx	xx	xx	xx	xx
			xxx	xxx	xxx	xxx	xxx
xx	xx	xx	xx
			xx	xx	xx	xx
				xx	xx
				x.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx

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Number of Export Countries
count

Number of Dealers/Distributors
count

2W OEM Market Share (Domestic)
%

Export Revenue Share (2W + OHT)
%

OHT Plant Capacity
Tonnes per day

Production Volume (Tyres and Tubes)
million units per month

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%
	1.16%	1.02%	1.00%	1.05%	1.03%	1.06%	0.99%	0.99%	0.97%	0.97%	0.92%	1.27%
	5.04%	5.04%	5.02%	4.95%	4.95%	4.95%	4.95%	5.05%	6.17%	6.17%	6.18%	6.11%
	48.07%	48.22%	48.27%	48.30%	48.32%	48.28%	48.36%	48.23%	47.17%	47.16%	47.19%	46.92%
No. of Shareholders	25,383	24,964	25,457	26,279	26,356	26,406	26,552	26,338	24,314	23,894	23,926	24,621

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	45.36%	45.36%	45.36%	45.36%	45.36%	45.36%	45.70%	45.70%	45.70%	45.70%	45.70%
	3.30%	2.80%	1.97%	1.05%	1.49%	2.10%	1.08%	1.02%	1.06%	0.97%	1.27%
	1.66%	4.87%	5.53%	6.06%	5.26%	0.03%	0.36%	5.04%	4.95%	6.17%	6.11%
	49.68%	46.96%	47.13%	47.52%	47.88%	52.51%	52.85%	48.22%	48.28%	47.16%	46.92%
No. of Shareholders	25,518	26,324	28,805	29,209	31,610	29,265	26,686	24,964	26,406	23,894	24,621

* 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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TVS Srichakra Ltd

TVS Srichakra Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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