Automobiles
TVS Motor Co. is a prominent player in the 2/3 wheelers industry, with its stock ticker being TVSMOTOR. The company boasts a market capitalization of Rs. 110,833 Crores.
Based in Chennai, India, and incorporated in 1992, TVS Motor Company Limited operates alongside its subsidiaries to manufacture and sell various automotive vehicles and components, spare parts, and accessories domestically.
The company segments its operations into four main categories:
TVS offers a diverse range of products, including:
Additionally, the company provides financing services for two-wheelers and serves markets in the Middle East, Africa, Southeast Asia, France, and Latin and Central America through a network of authorized dealers.
In terms of financial performance, TVS Motor Co. reported a trailing 12 months revenue of Rs. 42,980.3 Crores and has demonstrated impressive revenue growth of 79.6% over the past three years. The company also distributes dividends to its investors, with a current dividend yield of 0.34% per year and a recent dividend payout of Rs. 8 per share.
Overall, TVS Motor Company Limited operates as a subsidiary of TVS Holdings Limited, solidifying its presence in the automotive sector.
Growth: Good revenue growth. With 79.6% growth over past three years, the company is going strong.
Size: It is among the top 200 market size companies of india.
Smart Money: Smart money has been increasing their position in the stock.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Technicals: Bullish SharesGuru indicator.
No major cons observed.
Comprehensive comparison against sector averages
TVSMOTOR metrics compared to Automobiles
Category | TVSMOTOR | Automobiles |
---|---|---|
PE | 60.55 | 20.04 |
PS | 2.95 | 1.71 |
Growth | 15.1 % | 4.9 % |
TVSMOTOR vs Automobiles (2021 - 2025)
Investor Care | |
---|---|
Dividend Yield | 0.37% |
Dividend/Share (TTM) | 10 |
Shares Dilution (1Y) | 0.00% |
Diluted EPS (TTM) | 41.56 |
Financial Health | |
---|---|
Current Ratio | 1.04 |
Debt/Equity | 3.06 |
Debt/Cashflow | -0.05 |
Updated May 2, 2025
Concerns about capital allocation and rising net debt have tempered investor sentiment despite strong profit growth.
The company’s share price declined by 4% despite strong quarterly results, reflecting concerns over motorcycle demand.
TVS Motor's substantial investments in Norton Motorcycles are raising questions among analysts regarding future profitability.
TVS Motor Company achieved a record revenue of Rs. 36,251 Crores for FY 2024-25, marking a 14% increase from the previous year.
The company's net profit surged by 76% to Rs 852 crore for Q4 FY25, significantly outperforming analyst expectations.
TVS Motor's electric vehicle sales experienced remarkable growth, increasing by 54% in Q4 FY25, showcasing strong demand for its innovative solutions.
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Understand TVS Motor Co. ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
TVS HOLDINGS LIMITED (Formerly known as Sundaram Clayton Limited) | 50.26% |
ICICI PRUDENTIAL MUTUAL FUND | 7.35% |
AXIS MUTUAL FUND | 1.52% |
NEW WORLD FUND INC | 1.11% |
EUROPACIFIC GROWTH FUND | 1.09% |
CANARA ROBECO MUTUAL FUND | 1.05% |
SBI MUTUAL FUND | 1.03% |
MALLIKA SRINIVASAN | 0.01% |
Sudarshan Venu | 0% |
VS Trustee Private Limited | 0% |
VEE ESS Trading Private Limited | 0% |
Venu Srinivasan Trustee Private Limited | 0% |
S. Venu Trustee Private Limited | 0% |
STPL Trading and Services Private Limited (Formerly known as Srinivasan Trading Private Limited) | 0% |
VS Trust (Mr Venu Srinivasan, Trustee) | 0% |
VS PTC Trust (Mr Venu Srinivasan, Trustee) | 0% |
VEE ESS Trust (Venu Srinivasan Trustee Private Limited, Trustee) | 0% |
Srinivasan Venu Trust (Mr Venu Srinivasan, Trustee) | 0% |
Srinivasan Trust (VS Trustee Private Limited, Trustee) | 0% |
VENU SRINIVASAN | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Summary of TVS Motor Co.'s latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Jan 25
The management outlook for TVS Motor Company highlights strong growth momentum driven by robust product performance, improving margins, and strategic expansions. Key points include:
Operational Performance: Achieved a record EBITDA margin of 11.9% (without PLI benefits) in Q3 FY25, driven by cost optimization and premiumization. Revenue grew 10% YoY to Rs.9,097 crore, with PBT up 22% YoY.
Product Strength:
International Markets: Exports rose 26% YoY, with Africa, LatAm, and Middle East showing traction. Entry into Morocco and focus on Sri Lanka/Nepal recovery.
Outlook:
Investments: Capex of ~Rs.1,700 crore in FY25 for product development (Norton motorcycles, e-bikes) and global expansion.
TVS Credit: PBT surged 40% YoY (Rs.321 crore) with diversified lending and robust asset quality.
FY26 Vision: Optimism on rural recovery, premiumization, and international markets. Plans to leverage new products (e.g., CNG concepts, 300cc bikes) and EV tech partnerships (Hyundai for micro-mobility). Focus on maintaining double-digit industry growth and margin expansion.
Last updated: Jan 25
Question 1: Chandramouli Muthiah (Goldman Sachs)
"My first question is on the OBD2B norms, which I expect to be introduced on 1st April 2025. What additional components might you need to add? Are there any price hikes we need to take? Is there any prebuy factor to factor in?"
Answer: OBD2B compliance preparations are underway, with product readiness by April 2025. Price increases will be competitive and affordable, likely lower than past transitions (e.g., BS IV to BS VI). Prebuy effects are not explicitly highlighted.
Question 2: Pramod Kumar (UBS)
"Employee/other costs grew 25% vs. 13% revenue growth. When will these expenses moderate to show operating leverage?"
Answer: Elevated costs reflect investments in R&D, software, and global capability-building for future products (EVs, ICE, international expansion). These are strategic investments, not mere costs, critical for long-term growth. Moderation isn't prioritized over sustaining innovation.
Question 3: Kumar Rakesh (BNP Paribas)
"Why did TVS increase stake in DriveX? What's the rationale for making it a subsidiary?"
Answer: DriveX aligns with TVS's used-vehicle strategy, offering synergies with core operations. The investment supports expanding into India's growing used-vehicle market, leveraging TVS's distribution and brand strength.
Question 4: Gunjan (Bank of America)
"What drove the INR 740cr investment in subsidiaries? Why have subsidiary losses reduced?"
Answer: Investments target Norton Motorcycles' product launches (planned FY25/26), e-bike development, and a Dubai hub for global expansion. Loss reduction reflects cost optimization in subsidiaries like e-bikes amid market challenges.
Question 5: Jay Kale (Elara Capital)
"What's needed for EV penetration to rise beyond 6%? What was EV revenue this quarter?"
Answer: EV growth hinges on customer acceptance, new product segments (e.g., motorcycles), and cost reductions from scale. iQube's success (INR ~800cr revenue in Q3) and expanded variants support penetration.
Question 6: Raghunandhan N.L. (Nuvama Research)
"How will margin improve further? What's the FY26 demand outlook?"
Answer: Margins will benefit from premiumization, cost control, and volume leverage. FY26 demand is positive, driven by rural recovery, strong monsoon, and infrastructure spending, with TVS outperforming industry growth.
Question 7: Jinesh Gandhi (Ambit Capital)
"Will Norton require more investments? Are financiers' delinquency concerns affecting TVS?"
Answer: Norton requires sustained investments for product launches and global expansion. TVS Credit maintains stringent lending norms, with delinquencies controlled (3% gross NPA) and no stress on financing availability.
Analysis of TVS Motor Co.'s financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2024
Description | Share | Value |
---|---|---|
Automotive Vehicles & Parts | 83.2% | 9.4 kCr |
Financial services | 14.9% | 1.7 kCr |
Automotive Components | 2.0% | 224.3 Cr |
Total | 11.3 kCr |
Valuation | |
---|---|
Market Cap | 1.27 LCr |
Price/Earnings (Trailing) | 60.55 |
Price/Sales (Trailing) | 2.95 |
EV/EBITDA | 19.96 |
Price/Free Cashflow | -47.27 |
MarketCap/EBT | 39.01 |
Fundamentals | |
---|---|
Revenue (TTM) | 42.98 kCr |
Rev. Growth (Yr) | 10.61% |
Rev. Growth (Qtr) | -1.18% |
Earnings (TTM) | 2.09 kCr |
Earnings Growth (Yr) | 19.57% |
Earnings Growth (Qtr) | 3.61% |
Profitability | |
---|---|
Operating Margin | 7.56% |
EBT Margin | 7.56% |
Return on Equity | 24.37% |
Return on Assets | 4.66% |
Free Cashflow Yield | -2.12% |
Detailed comparison of TVS Motor Co. against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
M&M | Mahindra & MahindraPassenger Cars & Utility Vehicles | 3.64 LCr | 1.54 LCr | +4.37% | +35.66% | 26.64 | 2.36 | +11.21% | +12.46% |
BAJAJ-AUTO | Bajaj Auto2/3 Wheelers | 2.24 LCr | 51.35 kCr | +0.77% | -9.87% | 29.76 | 4.37 | +17.81% | +1.79% |
EICHERMOT | Eicher Motors2/3 Wheelers | 1.53 LCr | 19.11 kCr | +3.19% | +21.09% | 34.35 | 7.98 | +12.04% | +15.81% |
HEROMOTOCO | Hero MotoCorp2/3 Wheelers | 76.61 kCr | 41.52 kCr | +6.84% | -15.68% | 18.46 | 1.85 | +10.65% | +14.99% |
ATULAUTO | Atul AutoCommercial Vehicles | 1.29 kCr | 674.53 Cr | +11.15% | -11.87% | 74.38 | 1.91 | +30.04% | +213.38% |
Monthly Business Updates • 01 May 2025 Sales Update for the month of April 2025 |
Analyst / Investor Meet • 28 Apr 2025 Compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Audio recordings |
General • 28 Apr 2025 Grant of stock options by the Company under TVS Motor Company Employee Stock Option Plan |
Change in Management • 28 Apr 2025 Appointment of Secretarial Auditor |
General • 28 Apr 2025 Details of Outstanding Qualified Borrowings and Incremental Qualified Borrowings for FY 2025 |
Press Release / Media Release • 28 Apr 2025 Press Release & Presentation on the Audited Financial Results for the year ended 31st March 2025 |
Analyst / Investor Meet • 23 Apr 2025 Announcement under Regulation 30 (LODR) - Analyst / Investor Meet |