TVS Electronics Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Produtcs and Services (P&S): 69.5% • Customer Support Services: 30.5%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good sales growth of 15.2% CAGR over last 5 years
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
- Company converts assets efficiently - asset turnover of 1.7x
CONS
- A large part of profit comes from other income (1007.3% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -11.17x)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of -0.8% over last 3 years
- Company has a low return on capital employed of 1.9%
- Interest coverage is weak at 1.1x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NETWEB | 5026.90 | 114.65 | 29883.69 | 0.06 | 85.32 | 179.93 | 819.69 | 172.13 | 37.95 | 14.70 |
| NELCO | 946.90 | 559.76 | 2160.67 | 0.11 | 2.34 | 30.00 | 80.03 | 7.01 | 5.65 | 10.40 |
| IVALUE | 222.55 | 11.76 | 1218.54 | 0.00 | 15.72 | 51.74 | 179.73 | -21.14 | 25.50 | 9.69 |
| CONTROLPR | 593.15 | 24.35 | 948.70 | 1.69 | 3.92 | -54.23 | 115.56 | 3.84 | 17.99 | 13.24 |
| TVSELECT | 411.00 | 77.82 | 766.53 | 0.00 | -6.62 | -86.48 | 106.04 | 9.70 | 5.65 | -2.25 |
| DCI | 272.00 | 21.03 | 446.08 | 0.04 | 45.34 | 1120.13 | 1672.36 | 868.25 | 22.97 | 4.68 |
| EMPOWER | 2.29 | 13.78 | 266.51 | 0.00 | 1.49 | 778.82 | 37.38 | 40.81 | 1.78 | -1.12 |
| UMIYA-MRO | 95.98 | 27.40 | 179.33 | 0.00 | 0.24 | -99.25 | 16.33 | 27.25 | 29.94 | 27.92 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 90 | 92 | 87 | 97 | 111 | 105 | 100 | 115 | 97 | 127 | 114 | 117 | 106 | |
| 87 | 88 | 86 | 94 | 108 | 102 | 97 | 112 | 95 | 123 | 107 | 110 | 114 | |
| Operating Profit | 2 | 4 | 0 | 3 | 3 | 3 | 3 | 2 | 1 | 5 | 6 | 7 | -8 |
| OPM % | 2.56% | 4.11% | 0.54% | 2.64% | 2.82% | 2.49% | 2.91% | 1.83% | 1.22% | 3.67% | 5.69% | 5.92% | -7.40% |
| 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | -1 | 2 | 1 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| Depreciation | 2 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 5 | 4 | 4 | 4 | 4 |
| Profit before Tax | 0 | 1 | -2 | -0 | -1 | -1 | -1 | -3 | -4 | 1 | 0 | 3 | -7 |
| Tax % | 23.81% | 9.68% | 22.67% | 733.33% | -12.50% | 11.41% | 41.44% | 78.83% | 13.20% | -34.78% | -7.89% | 8.36% | 9.07% |
| Net Profit | 0 | 1 | -2 | 1 | -1 | -1 | -1 | -1 | -4 | 2 | 0 | 3 | -7 |
| 0.17 | 0.60 | -0.93 | 0.30 | -0.68 | -0.71 | -0.35 | -0.35 | -1.90 | 0.83 | 0.22 | 1.53 | -3.55 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,519 | 4,107 | 2,757 | 259 | 225 | 308 | 353 | 366 | 430 | 455 | 464 | |
| 2,505 | 4,083 | 2,739 | 248 | 216 | 282 | 334 | 357 | 421 | 436 | 454 | |
| Operating Profit | 14 | 24 | 18 | 11 | 9 | 26 | 20 | 10 | 10 | 19 | 10 |
| OPM % | 0.57% | 0.60% | 0.66% | 4.22% | 3.81% | 8.57% | 5.59% | 2.60% | 2.30% | 4.24% | 2.21% |
| 3 | 6 | 0 | 2 | 2 | 2 | 2 | 3 | 4 | 5 | 4 | |
| Interest | 3 | 1 | 0 | 2 | 2 | 1 | 1 | 2 | 5 | 7 | 7 |
| Depreciation | 6 | 4 | 4 | 10 | 8 | 6 | 7 | 11 | 15 | 17 | 16 |
| Profit before Tax | 9 | 24 | 14 | -0 | 1 | 21 | 13 | -1 | -7 | 1 | -3 |
| Tax % | 27.49% | 33.58% | 47.68% | 2050.00% | 18.09% | 27.47% | 25.86% | 139.71% | 42.86% | -129.09% | 31.44% |
| Net Profit | 6 | 16 | 7 | 0 | 1 | 15 | 10 | 0 | -4 | 1 | -2 |
| EPS | 3.38 | 8.63 | 3.99 | 0.21 | 0.41 | 8.10 | 5.11 | 0.14 | -2.08 | 0.68 | — |
| Dividend Payout % | 14.70% | 17.19% | 37.52% | 717.36% | 0.00% | 24.70% | 39.18% | 690.74% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -3%
- 5 Years:
- 15%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -12%
- 5 Years:
- 10%
- 3 Years:
- -49%
STOCK PRICE CAGR
- 10 Years:
- 16%
- 5 Years:
- 19%
- 3 Years:
- 5%
- 1 Year:
- 0%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 5%
- 3 Years:
- -1%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| 48 | 63 | 68 | 62 | 63 | 74 | 83 | 80 | 76 | 77 | |
| 22 | 4 | 0 | 21 | 4 | 7 | 12 | 38 | 38 | 49 | |
| Trade Payables | 280 | 934 | 58 | 53 | 60 | 68 | 68 | 72 | 84 | 82 |
| 11 | 15 | 20 | 24 | 24 | 34 | 38 | 34 | 42 | 50 | |
| Total Liabilities | 379 | 1,034 | 165 | 178 | 169 | 202 | 220 | 242 | 258 | 277 |
| 32 | 28 | 30 | 37 | 29 | 26 | 34 | 57 | 63 | 57 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 1 |
| 7 | 5 | 16 | 1 | 17 | 35 | 12 | 26 | 8 | 8 | |
| 153 | 485 | 32 | 31 | 37 | 47 | 62 | 55 | 65 | 71 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63 | 72 | 95 | |
| Cash & Bank | 13 | 39 | 8 | 14 | 9 | 11 | 11 | 4 | 6 | 5 |
| 173 | 477 | 79 | 95 | 78 | 83 | 98 | 37 | 44 | 40 | |
| Total Assets | 379 | 1,034 | 165 | 178 | 169 | 202 | 220 | 242 | 258 | 277 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 52 | -3 | -8 | 34 | 29 | -3 | 14 | 7 | 6 | |
| Cash from Investing | -1 | 0 | -16 | 17 | -19 | -20 | 6 | -40 | 12 | -4 |
| Cash from Financing | -12 | -21 | -7 | -0 | -21 | -4 | 1 | 19 | -19 | -3 |
| 7 | 19 | -29 | 11 | -6 | 2 | -1 | -7 | -0 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - TVS Electronics Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-09-01 - TVS Electronics Limited has informed the Exchange about Investor Presentation
2026-08-09 - TVS Electronics Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-08 - TVS Electronics Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 08, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-08 - TVS Electronics Limited has submitted to the Exchange, the un-audited financial results for the period ended Jun 30, 2026.
2026-08-08 - TVS Electronics Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 08, 2026
2026-07-24 - TVS Electronics Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-18 - Copy of Newspaper Publication in connection with 31st Annual General Meeting
2026-07-17 - TVS Electronics Limited has informed the Exchange regarding 'Copy of the letter to the Shareholders pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
News
Recent coverage and analyst commentary for TVSELECT
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