TVS Motor Company Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Automotive Vehicles: 87.2% • Financial Services: 12.8%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has delivered good profit growth of 39.3% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.5%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 64.5% YoY, showing strong momentum
- Company has delivered good sales growth of 23.6% CAGR over last 5 years
CONS
- Company has a high debt-to-equity of 3.31x
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.56x)
- Stock is trading at 16.7x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJ-AUTO | 11810.00 | 27.60 | 324543.33 | 1.27 | 3188.75 | 44.26 | 21688.83 | 71.50 | 28.68 | 20.88 |
| EICHERMOT | 7700.00 | 36.62 | 211381.71 | 1.06 | 1462.51 | 21.35 | 6632.42 | 34.11 | 30.54 | 26.51 |
| TVSMOTOR | 4115.00 | 57.03 | 195498.35 | 0.29 | 1057.61 | 64.52 | 16295.52 | 33.46 | 18.24 | 14.38 |
| HEROMOTOCO | 5280.00 | 19.39 | 105674.56 | 3.50 | 1417.93 | -91.69 | 13126.35 | 34.94 | 35.92 | 12.97 |
| ATHERENERG | 1639.80 | 0.00 | 65035.08 | 0.00 | -510.90 | — | 12169.20 | — | -21.59 | -2.73 |
| OLAELEC | 39.16 | 0.00 | 18124.85 | 0.00 | -336.00 | 21.50 | 455.00 | -45.05 | -20.87 | -36.26 |
| ATULAUTO | 449.20 | 26.39 | 1246.59 | 0.67 | 8.04 | 290.29 | 218.43 | 44.73 | 11.27 | 7.72 |
| URJA | 9.00 | 458.40 | 501.49 | 0.00 | 0.43 | -55.42 | 13.96 | -26.55 | 1.40 | 3.99 |
| WARDINMOBI | 5.75 | 183.62 | 172.97 | 0.00 | 0.17 | -84.77 | 61.64 | 91.02 | 12.48 | 6.17 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,056 | 9,933 | 10,114 | 9,942 | 10,314 | 11,197 | 11,035 | 11,542 | 12,210 | 14,051 | 14,756 | 15,053 | 16,296 | |
| 7,841 | 8,577 | 8,626 | 8,478 | 8,866 | 9,572 | 9,381 | 9,622 | 10,396 | 11,929 | 12,485 | 12,866 | 14,894 | |
| Operating Profit | 1,215 | 1,356 | 1,488 | 1,464 | 1,449 | 1,625 | 1,654 | 1,920 | 1,814 | 2,122 | 2,270 | 2,187 | 1,401 |
| OPM % | 13.41% | 13.65% | 14.71% | 14.73% | 14.05% | 14.52% | 14.99% | 16.63% | 14.86% | 15.10% | 15.39% | 14.53% | 8.60% |
| 87 | 51 | 12 | -44 | 41 | 32 | 65 | -68 | 40 | -14 | -60 | 7 | 158 | |
| Interest | 437 | 483 | 494 | 511 | 500 | 506 | 536 | 551 | 551 | 552 | 561 | 566 | 602 |
| Depreciation | 227 | 237 | 242 | 263 | 241 | 254 | 258 | 292 | 315 | 320 | 323 | 315 | 354 |
| Profit before Tax | 637 | 686 | 763 | 647 | 748 | 897 | 925 | 1,009 | 988 | 1,236 | 1,326 | 1,313 | 1,545 |
| Tax % | 29.04% | 37.85% | 31.54% | 36.41% | 33.82% | 33.14% | 32.30% | 30.35% | 33.84% | 31.61% | 32.57% | 36.44% | 31.55% |
| Net Profit | 0 | 0 | 0 | 0 | 485 | 588 | 609 | 698 | 643 | 833 | 891 | 820 | 1,058 |
| 9.14 | 8.13 | 10.08 | 7.94 | 9.54 | 11.65 | 11.82 | 13.41 | 12.84 | 16.74 | 17.71 | 16.24 | 21.46 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 12,463 | 16,340 | 20,160 | 18,849 | 19,421 | 24,355 | 31,974 | 38,779 | 44,089 | 56,070 | 60,155 | |
| 11,594 | 14,798 | 17,999 | 16,576 | 17,183 | 21,601 | 27,907 | 33,328 | 37,519 | 47,764 | 52,174 | |
| Operating Profit | 869 | 1,542 | 2,161 | 2,273 | 2,238 | 2,755 | 4,067 | 5,451 | 6,570 | 8,306 | 7,981 |
| OPM % | 6.97% | 9.44% | 10.72% | 12.06% | 11.52% | 11.31% | 12.72% | 14.06% | 14.90% | 14.81% | 13.27% |
| 165 | 100 | 25 | 12 | 38 | -7 | 136 | 133 | 148 | 60 | 90 | |
| Interest | 60 | 338 | 663 | 855 | 881 | 940 | 1,368 | 1,917 | 2,093 | 2,230 | 2,281 |
| Depreciation | 317 | 374 | 442 | 556 | 565 | 743 | 859 | 956 | 1,046 | 1,273 | 1,312 |
| Profit before Tax | 658 | 931 | 1,083 | 865 | 822 | 1,067 | 1,936 | 2,668 | 3,505 | 4,822 | 5,420 |
| Tax % | 22.60% | 28.58% | 33.01% | 25.26% | 26.06% | 31.49% | 32.36% | 34.26% | 32.96% | 33.92% | 33.00% |
| Net Profit | 509 | 665 | 725 | 647 | 608 | 731 | 1,309 | 1,754 | 2,350 | 3,186 | 3,631 |
| EPS | 10.76 | 13.73 | 14.83 | 13.15 | 12.51 | 15.93 | 27.97 | 35.50 | 47.05 | 63.53 | — |
| Dividend Payout % | 23.23% | 24.03% | 23.60% | 26.62% | 27.98% | 23.54% | 17.88% | 22.54% | 21.25% | 18.89% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 17%
- 5 Years:
- 24%
- 3 Years:
- 21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 22%
- 5 Years:
- 38%
- 3 Years:
- 31%
STOCK PRICE CAGR
- 10 Years:
- 29%
- 5 Years:
- 50%
- 3 Years:
- 41%
- 1 Year:
- 17%
RETURN ON EQUITY
- 10 Years:
- 25%
- 5 Years:
- 28%
- 3 Years:
- 32%
- Last Year:
- 35%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
| Minority Interest | 9 | 181 | 246 | 321 | 388 | 654 | 405 | 728 | 939 | 1,149 |
| 2,169 | 2,630 | 3,123 | 3,235 | 3,779 | 4,352 | 5,457 | 6,736 | 8,456 | 9,516 | |
| 1,311 | 6,928 | 9,298 | 11,554 | 12,156 | 15,755 | 22,227 | 17,793 | 17,518 | 20,710 | |
| Trade Payables | 1,954 | 2,651 | 3,160 | 3,187 | 4,299 | 4,663 | 5,097 | 6,638 | 7,561 | 9,834 |
| 639 | 754 | 823 | 929 | 1,196 | 1,438 | 1,694 | 9,883 | 12,919 | 14,670 | |
| Total Liabilities | 6,128 | 13,190 | 16,696 | 19,272 | 21,865 | 26,909 | 34,927 | 41,826 | 47,441 | 55,926 |
| 2,330 | 2,955 | 3,229 | 3,673 | 4,083 | 5,837 | 5,610 | 5,753 | 7,503 | 8,488 | |
| Capital Work in Progress | 64 | 274 | 604 | 847 | 874 | 320 | 316 | 338 | 664 | 974 |
| 1,155 | 421 | 440 | 371 | 468 | 605 | 967 | 1,123 | 1,247 | 1,147 | |
| 1,162 | 1,056 | 1,292 | 1,188 | 1,367 | 1,642 | 1,922 | 2,248 | 2,417 | 2,459 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,839 | 1,717 | 2,654 | |
| Cash & Bank | 51 | 173 | 206 | 1,108 | 1,657 | 1,536 | 1,879 | 2,426 | 4,386 | 4,501 |
| 1,366 | 8,311 | 10,926 | 12,085 | 13,416 | 16,969 | 24,233 | 28,098 | 29,507 | 35,703 | |
| Total Assets | 6,128 | 13,190 | 16,696 | 19,272 | 21,865 | 26,909 | 34,927 | 41,826 | 47,441 | 55,926 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 826 | 680 | -601 | 615 | 1,402 | -1,209 | -3,797 | -1,253 | 3,503 | 1,867 | |
| Cash from Investing | -709 | -1,095 | -1,104 | -1,090 | -882 | -1,471 | -1,308 | -1,481 | -2,899 | -2,964 |
| Cash from Financing | -59 | 897 | 2,210 | 1,619 | 264 | 2,918 | 6,118 | 3,239 | 1,155 | 909 |
| -79 | 156 | 188 | 902 | 532 | -128 | 406 | 505 | 1,759 | -189 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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
2026-09-11 - TVS Motor Company Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "TVS MOTOR COMPANY BRINGS THE NEXT GENERATION OF APACHE PERFORMANCE TO SRI LANKA WITH THE WHOLE RANGE".
2026-09-07 - TVS Motor Company Limited has informed the Exchange regarding a press release dated September 07, 2026, titled "TVS MOTOR COMPANY BRINGS FLAGSHIP ADVENTURE TECHNOLOGY TO THE A2 CLASS WITH RTX 300".
2026-09-04 - TVS Motor Company Limited has informed the Exchange about Schedule of meet
2026-09-01 - TVS Motor Company Limited has informed the Exchange regarding redemption of 190,03,48,456 bonus NCRPS in terms of Regulation 57(1) of the SEBI (Listing Obligations and Disclosure Requirements), 2015
2026-09-01 - TVS Motor Company Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026
2026-08-28 - TVS Motor Company Limited has informed the Exchange regarding a press release dated August 28, 2026, titled "TVS Motor Company Appoints Peyman Kargar as Director and Chief Executive Officer of the Company.".
2026-08-28 - TVS Motor Company Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-08-28 - TVS Motor Company Limited has informed the Exchange regarding Appointment of Mr Peyman as Other of the company w.e.f. January 27, 2027.
2026-08-27 - TVS Motor Company Limited has informed the Exchange regarding a press release dated August 27, 2026, titled "TVS Motor Launches TVS Jupiter Dual Tone Spectral Range".
News
Recent coverage and analyst commentary for TVSMOTOR
Loading news…
AI Stock Analyst
TVS Motor Company Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account