TVS Srichakra Ltd

TVS Srichakra Ltd

₹ 4,365 -0.83%
14 Jun 4:01 p.m.
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]

  • Market Cap 3,357 Cr.
  • Current Price 4,365
  • High / Low 5,097 / 2,755
  • Stock P/E 29.4
  • Book Value 1,452
  • Dividend Yield 0.73 %
  • ROCE 10.9 %
  • ROE 10.7 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 31.3%

Cons

  • Stock is trading at 3.00 times its book value
  • The company has delivered a poor sales growth of 3.78% over past five years.
  • Company has a low return on equity of 8.12% 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

Sector: Tyres Industry: Tyres

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
602 498 691 677 670 737 834 731 683 702 740 719 765
523 472 628 636 636 706 751 671 628 642 649 650 688
Operating Profit 79 26 63 40 35 31 83 60 55 61 91 68 77
OPM % 13% 5% 9% 6% 5% 4% 10% 8% 8% 9% 12% 10% 10%
3 3 1 0 2 -3 1 0 6 3 -1 2 -6
Interest 6 7 8 8 9 9 9 10 11 12 10 10 13
Depreciation 30 21 22 20 17 22 23 24 23 24 26 27 28
Profit before tax 46 2 34 12 11 -3 52 26 27 28 54 33 31
Tax % 24% 32% 26% 26% 30% 24% 26% 24% 16% 25% 28% 28% 22%
35 1 25 9 8 -2 38 20 22 21 39 24 24
EPS in Rs 45.75 1.45 33.05 11.79 10.47 -2.86 49.91 25.56 29.21 27.36 51.09 31.47 31.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,652 1,938 2,176 2,185 1,961 2,152 2,431 2,104 1,939 2,543 2,985 2,926
1,551 1,787 1,958 1,858 1,676 1,899 2,168 1,887 1,709 2,373 2,751 2,629
Operating Profit 101 150 219 326 284 253 263 217 230 170 234 297
OPM % 6% 8% 10% 15% 14% 12% 11% 10% 12% 7% 8% 10%
33 2 -7 23 5 15 12 10 5 4 4 -2
Interest 62 50 33 22 22 31 37 39 33 34 44 45
Depreciation 25 26 42 44 56 69 85 100 104 80 92 104
Profit before tax 47 77 137 284 211 169 153 87 98 59 101 146
Tax % 30% 15% 29% 33% 29% 31% 33% 6% 24% 27% 23% 26%
33 65 98 190 148 116 103 82 74 43 78 108
EPS in Rs 35.51 73.89 130.11 243.09 192.79 151.68 134.44 107.53 96.54 56.77 101.85 140.98
Dividend Payout % 21% 22% 26% 25% 26% 26% 30% 19% 31% 29% 32% 34%
Compounded Sales Growth
10 Years: 4%
5 Years: 4%
3 Years: 15%
TTM: -2%
Compounded Profit Growth
10 Years: 7%
5 Years: 2%
3 Years: 16%
TTM: 40%
Stock Price CAGR
10 Years: 22%
5 Years: 18%
3 Years: 29%
1 Year: 52%
Return on Equity
10 Years: 15%
5 Years: 9%
3 Years: 8%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 8 8 8 8 8 8 8 8 8 8 8 8
Reserves 154 206 275 404 553 631 721 737 817 963 1,027 1,104
297 383 274 145 315 312 426 351 208 610 662 842
484 428 414 412 515 475 655 520 590 779 757 742
Total Liabilities 942 1,025 970 969 1,391 1,426 1,809 1,616 1,622 2,359 2,453 2,697
278 344 382 384 532 620 662 687 666 708 905 1,121
CWIP 31 20 18 44 63 26 34 48 63 226 145 104
Investments 1 0 1 49 49 68 97 97 101 254 255 260
632 661 569 493 748 711 1,016 785 793 1,171 1,149 1,211
Total Assets 942 1,025 970 969 1,391 1,426 1,809 1,616 1,622 2,359 2,453 2,697

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
187 14 244 400 64 185 64 299 307 -62 206 228
8 -89 -84 -120 -215 -102 -120 -136 -92 -282 -202 -325
-159 38 -158 -271 149 -79 52 -169 -215 348 0 101
Net Cash Flow 35 -37 2 9 -3 5 -4 -5 1 4 4 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 50 62 38 29 38 41 51 36 46 34 27 35
Inventory Days 94 74 74 63 138 95 123 135 149 198 161 159
Days Payable 115 77 52 34 67 50 83 70 102 102 85 91
Cash Conversion Cycle 28 58 59 58 109 86 91 101 93 131 102 103
Working Capital Days 30 42 26 19 51 47 60 52 47 72 47 56
ROCE % 16% 23% 30% 50% 32% 22% 18% 11% 12% 7% 9%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
45.36% 45.36% 45.36% 45.36% 45.36% 45.37% 45.58% 45.70% 45.70% 45.70% 45.70% 45.70%
1.97% 2.32% 2.31% 2.10% 1.88% 1.41% 1.20% 1.08% 1.01% 1.11% 1.16% 1.02%
2.97% 0.65% 0.30% 0.03% 0.03% 0.02% 0.05% 0.36% 0.49% 2.77% 5.04% 5.04%
49.70% 51.67% 52.03% 52.51% 52.72% 53.21% 53.17% 52.85% 52.80% 50.41% 48.07% 48.22%
No. of Shareholders 29,99529,74129,52029,26529,25828,05427,05126,68627,24926,66625,38324,964

* 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.

Click on the line-items to see the names of individual entities.

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