Table of Contents

TVS Motor Company Ltd

Updated on July 10, 2019

Stock/Share Code - TVSMOTOR

TVS Motor Company Limited is a public limited company incorporated & domiciled in india whose shares are publicly traded. The Company manufactures two wheelers, three wheelers, parts & accessories thereof. The company has manufacturing plants located at Hosur in Tamil Nadu, Mysuru in karnataka & Nalagarh in Himachal Pradesh.

Below is the details of TVSMOTOR TVS Motor Company Ltd

Market Cap	₹22,772 Cr.
Current Price	₹423.55 as on 16 Jul 19
52 Week High / Low Price	₹609.95 / ₹448.3
Face Value	₹1
Stock P/E	33.98
Book Value	₹70.46
Dividend Yield	0.69 %
ROCE	24.09 %
ROE	24.44 %
Sales Growth (3yrs)	14.64 %
Sector	Automobile
Industry	Automobiles - Motorcycles / Mopeds
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Company has good consistent profit growth of 29.47% over 5 years Company has been maintaining a healthy dividend payout of 23.07%

Cons:

TVS Motor Company Ltd Price Chart

TVS Motor Company Ltd Peer Comparison in Automobile

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	Eicher Motors	₹19,041.25	24.71	₹54,435.32 Cr.	0.55	₹544.84 Cr.	18.05	-1.10	2500.08	49.40
2.	Hero Motocorp	₹2,544.35	15.82	₹53,531.8 Cr.	3.54	₹730.32 Cr.	-24.51	-7.93	7884.96	46.10
3.	TVS Motor Co.		33.98	₹22,771.54 Cr.	0.69	₹133.83 Cr.	-19.19	9.40	4384.02	24.09

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TVS Motor Company Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019
Sales	2,881	3,426	2,983	2,844	3,400	4,065	3,699	4,007	4,168	4,993	4,664	4,384
YOY Sales Growth %	11.92%	20.76%	3.02%	1.69%	18%	18.63%	23.98%	40.88%	22.62%	22.85%	26.1%	9.4%
Expenses	2,681	3,150	2,765	2,683	3,188	3,702	3,398	3,712	3,847	4,565	4,288	4,076
Material Cost %	72.56%	72.31%	72.04%	75.1%	74.58%	73.16%	72.41%	73.51%	75.91%	75.78%	75.79%	76.63%
Employee Cost %	6.3%	5.8%	6.43%	6.11%	6.15%	5.41%	5.73%	5.67%	5.7%	4.91%	5.07%	4.64%
Operating Profit	200	277	218	162	211	363	301	295	321	428	376	308
OPM %	7%	8%	7%	6%	6%	9%	8%	7%	8%	9%	8%	7%
Other Income	36	39	35	63	57	33	4	10	3	1	1	4
Interest	10	9	12	13	11	15	12	18	18	21	17	25
Depreciation	66	72	72	77	78	84	82	94	93	102	101	103
Profit before tax	161	234	170	134	179	297	210	192	212	306	258	184
Tax %	25%	24%	22%	5%	28%	28%	27%	14%	31%	31%	31%	27%
Net Profit	121	177	133	127	129	213	154	166	147	211	178	134
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	TTM
Sales	3,855	3,219	3,671	4,363	6,288	7,142	7,169	7,966	10,042	11,105	12,135	15,130	18,210
Sales Growth %	19.17%	-16.48%	14.02%	18.86%	44.12%	13.57%	0.39%	11.11%	26.07%	10.58%	9.28%	24.67%	%
Expenses	3,719	3,178	3,552	4,198	5,890	6,672	6,761	7,516	9,436	10,295	11,276	14,000	16,777
Material Cost %	75.32%	75.96%	75.82%	71.91%	73.38%	73.67%	72.53%	71.21%	72.66%	71.85%	72.96%	73.58%	%
Manufacturing Cost %	2.99%	3.2%	3.02%	3.04%	2.72%	2.83%	2.58%	2.18%	2.04%	1.8%	1.75%	1.61%	%
Employee Cost %	4.45%	5.47%	5.57%	5.69%	5.2%	5.18%	5.68%	5.98%	5.9%	5.87%	6.14%	5.74%	%
Other Cost %	13.74%	14.08%	12.35%	15.58%	12.38%	11.75%	13.52%	14.99%	13.35%	13.18%	12.07%	11.6%	%
Operating Profit	135	41	119	165	398	469	408	450	607	810	859	1,129	1,433
OPM %	4%	1%	3%	4%	6%	7%	6%	6%	6%	7%	7%	7%	8%
Other Income	78	100	80	89	30	22	-66	60	30	104	171	145	8
Interest	35	11	65	75	72	57	48	25	27	49	44	57	81
Depreciation	88	95	103	103	107	118	130	132	153	236	288	339	399
Profit before tax	91	35	31	76	248	316	164	353	456	629	699	879	961
Tax %	27%	10%	0%	-16%	22%	21%	29%	26%	24%	22%	20%	25%
Net Profit	67	32	31	88	195	249	116	262	348	489	558	663	670
EPS in Rs	1.34	0.61	0.59	1.76	3.92	5.03	2.26	5.28	6.96	9.60	11.27	13.30
Dividend Payout %	30%	52%	53%	32%	27%	25%	49%	25%	26%	24%	21%	24%

Compounded Sales Growth

10 Years:: 16.74%
5 Years:: 16.11%
3 Years:: 14.64%
TTM:: 20.04%

Compounded Profit Growth

10 Years:: 70.96%
5 Years:: 29.47%
3 Years:: 22.98%
TTM:: 1.14%

Return on Equity

10 Years:: 21.20%
5 Years:: 23.91%
3 Years:: 25.00%
Last Year:: 24.44%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Share Capital	24	24	24	24	48	48	48	48	48	48	48	48	48
Equity Capital	23.75	23.75	23.75	23.75	47.51	47.51	47.51	47.51	47.51	47.51	47.51	47.51	47.51
Reserves	786	798	786	842	952	1,122	1,177	1,368	1,598	1,911	2,361	2,833	3,300
Borrowings	634	666	906	1,003	768	831	634	528	970	924	1,107	1,189	1,378
Other Liabilities	824	787	845	906	1,090	1,179	1,343	1,668	2,024	2,148	2,532	3,261	3,644
Trade Payables	576.12	505.01	549.55	666.2	669.11	711.67	808.58	998.91	1487.08	1564.45	1883.75	2540.69	2923.9
Total Liabilities	2,267	2,275	2,561	2,774	2,858	3,179	3,202	3,611	4,640	5,031	6,048	7,331	8,369
Fixed Assets	797	1,016	996	956	938	1,026	1,011	1,126	1,330	1,720	1,984	2,372	2,720
Gross Block	1483.01	1790.97	1865.36	1909.14	1972.25	2154.45	2247.93	2472.32	2821.78	3465.14	3929	4545.43
Accumulated Depreciation	685.93	774.49	869.42	953.41	1034.66	1128.88	1236.45	1346.61	1492.15	1745.55	1945.13	2173.56
CWIP	206	27	40	27	57	53	36	48	89	31	62	131	117
Investments	345	339	478	739	661	931	869	896	1,012	1,215	1,588	2,035	2,301
Other Assets	919	893	1,047	1,052	1,201	1,170	1,286	1,541	2,209	2,066	2,414	2,793	3,232
Inventories	396.56	405.38	320.55	289.73	527.92	584.56	509.66	548.15	819.68	696.33	966.95	964.39	1175.94
Trade receivables	111.4	87.86	181.56	220.79	270.62	208.04	316.85	334.12	503.86	578.03	723.77	968.37	1414.14
Cash Equivalents	86.56	3.73	42.05	101.01	6.01	13.03	17.45	82.57	5.39	32.74	8.51	10.9	43.86
Loans n Advances	266.07	342.87	427.11	410.5	301.1	307.42	368.32	490.19	736.11	658.21	630.92	785.95	0.15
Total Assets	2,267	2,275	2,561	2,774	2,858	3,179	3,202	3,611	4,640	5,031	6,048	7,331	8,369

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Cash from Operating Activity	113	6	160	339	234	441	433	524	85	941	724	1,252
Profit from operations	179.68	124.55	180.41	257.85	382.59	448.32	421.25	489.97	610.59	811.58	904.35	1131.28
Working Capital Changes	-36.17	-101.38	-13.89	108.72	-67.35	62.55	64.33	161.32	-385.08	275.29	-51.42	366.75
Taxes paid	-30.72	-16.84	-6.78	-27.66	-81.13	-70.02	-53.5	-127.5	-140.67	-145.78	-129	-246.46
Cash from Investing Activity	-229	-106	-202	-285	-2	-381	-107	-260	-493	-608	-748	-1,086
Fixed Assets Purchased	-130.04	-342.46	-44.6	-89.7	-114.74	-207.56	-124.47	-248.52	-366.87	-549.15	-588.7	-748.5
Fixed Assets Sold	25.44	34.5	8.1	83.8	37.73	25.87	8.52	2.52	2.98	34.35	7.79	24.49
Capital WIP	-151.15	179.26	-13.86	13.38	-30.34	4.88	16.42	-11.99	-41.28	58.4	-31.32	-68.85
Investments purchased	-952.29	-958.74	-418.15	-1015.78	-867.34	-281.54	-59.55	-288.69	-131.54	-171.17	-194.38	-76.41
Investments sold	951.74	964.52	280.83	667.43	950.36	11.66	30.07	261.13	15.22	0	0.23	0
Cash from Financing Activity	178	-5	21	88	-406	-195	-322	-198	331	-306	-73	-75
Proceeds from Borrowings	248.52	86.26	104.69	340.46	0	48.42	0	0	76.57	88.6	279.47	191.69
Repayment of Borrowings	0	-75.74	0	-138.18	-396.81	-126.2	0	-106.88	366.29	-139.3	0	0
Interest Paid	-35.05	-11.47	-64.61	-75.36	-70.3	-57.1	-53.04	-22.95	-28.47	-46.91	-43.29	-58.19
Dividends Paid	-35.21	-4.17	-19.46	-38.92	-41.12	-65.9	-71.5	-69	-83.14	-206.48	-141.29	-187.63
Net Cash Flow	62	-105	-22	142	-174	-135	4	66	-78	27	-97	91

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Ratios

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
ROCE %	9%	1%	6%	11%	18%	20%	16%	20%	21%	23%	23%	24%
Debtor Days	11	10	18	18	16	11	16	15	18	19	22	23
Inventory Turnover	10.22	8.03	10.11	14.30	15.38	12.84	13.10	15.06	14.68	14.65	14.59	15.67

Announcements & News

Recent Announcements

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome | May 29, 2019
Announcement under Regulation 30 (LODR)-Press Release / Media Release | May 27, 2019
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate | May 24, 2019
Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 | May 24, 2019
Reg.24(A)-Annual Secretarial Compliance | May 24, 2019

Credit Ratings

Annual Reports

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