TVS Motor Company Ltd.

•

tvsmotor.comBSE: 532343NSE: TVSMOTOR

Market Cap₹ 1,95,498 Cr.

Current Price

High / Low₹ 4,484 / 3,228

Stock P/E57.0

Book Value₹ 224

Price to Book16.72

Dividend Yield0.29 %

ROCE18.2 %

ROE35.3 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Automotive Vehicles: 87.2% • Financial Services: 12.8%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

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.

Confidence

74%

View full sector analysis →

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

Automobile and Auto ComponentsAutomobile & AncillariesAutomobile Two & Three Wheelers

Part ofNIFTY NEXT 50 NIFTY ALPHA 50 NIFTYLARGEMIDCAP250 NIFTY AUTO NIFTY CONSUMPTION

S.No.	Name
1.	BAJAJ-AUTO	11810.00	27.60	324543.33	1.27	3188.75	44.26	21688.83	71.50	28.68	20.88
2.	EICHERMOT	7700.00	36.62	211381.71	1.06	1462.51	21.35	6632.42	34.11	30.54	26.51
3.	TVSMOTOR	4115.00	57.03	195498.35	0.29	1057.61	64.52	16295.52	33.46	18.24	14.38
4.	HEROMOTOCO	5280.00	19.39	105674.56	3.50	1417.93	-91.69	13126.35	34.94	35.92	12.97
5.	ATHERENERG	1639.80	0.00	65035.08	0.00	-510.90	—	12169.20	—	-21.59	-2.73
6.	OLAELEC	39.16	0.00	18124.85	0.00	-336.00	21.50	455.00	-45.05	-20.87	-36.26
7.	ATULAUTO	449.20	26.39	1246.59	0.67	8.04	290.29	218.43	44.73	11.27	7.72
8.	URJA	9.00	458.40	501.49	0.00	0.43	-55.42	13.96	-26.55	1.40	3.99
9.	WARDINMOBI	5.75	183.62	172.97	0.00	0.17	-84.77	61.64	91.02	12.48	6.17

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.27	50.27	50.27	50.27	50.27	50.27	50.27	50.27	50.27
	21.05	22.33	21.20	21.48	22.42	22.90	23.09	22.56	20.45
	20.13	19.02	19.99	19.73	18.80	18.34	18.28	18.84	21.11
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	8.55	8.40	8.53	8.52	8.51	8.50	8.36	8.33	8.17

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Press Release

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

Press Release

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

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - TVS Motor Company Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

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

Monthly Business Updates

2026-09-01 - TVS Motor Company Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026

2026-08-28

Press Release

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

Change in Director(s)

2026-08-28 - TVS Motor Company Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-28

Appointment

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

Press Release

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

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TVS Motor Company Ltd.

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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

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%

-44

-68

-14

-60

158

Interest

437

483

494

511

500

506

536

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

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

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

-7

136

133

148

Interest

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%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

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

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

1,839

1,717

2,654

Cash & Bank

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

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

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

50.27

21.05

22.33

21.20

21.48

22.42

22.90

23.09

22.56

20.45

20.13

19.02

19.99

19.73

18.80

18.34

18.28

18.84

21.11

Government

0.00

8.55

8.40

8.53

8.52

8.51

8.50

8.36

8.33

8.17

TVS Motor Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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TVS Motor Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI