TVS Holdings Ltd.

•

₹ 13,899-0.49%

2026-08-21

tvsholdings.comBSE: 520056NSE: TVSHLTD

Market Cap₹ 28,218 Cr.

Current Price₹ 13,968

High / Low₹ 16,297 / 11,609

Stock P/E14.3

Book Value₹ 3,782

Price to Book4.37

Dividend Yield0.62 %

ROCE19.4 %

ROE60.8 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Automotive Components: 83.7% • Financial Services: 16.3%

PROS

Company has delivered good profit growth of 41.8% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 60.6%
Solid return on assets for a lender - ROA of 10.6%
Asset quality is healthy - gross NPA of just 0.0%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 73.8% YoY, showing strong momentum

CONS

Thin net interest margin of 0.0%
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (10.3%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Financial ServicesFinanceFinance - Investment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	BAJAJFINSV	2010.00	31.74	322014.33	0.07	6296.67	18.15	42036.90	92.22	11.88	40.79
2.	AIIL	549.85	22.26	46694.66	0.00	11082.20	1075.19	14695.40	1109.37	30.27	88.91
3.	CHOLAHLDNG	1558.35	10.96	29262.30	0.08	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13946.95	14.32	28217.61	0.62	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	226.40	19.32	21783.17	0.09	353.38	102.04	1576.47	62.12	11.18	68.54
6.	MAHSCOOTER	13359.10	0.00	15267.54	1.65	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11370.60	91.87	12620.94	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	126.45	11.63	12100.76	2.57	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	414.70	18.92	9210.65	2.69	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	230.10	144.40	7932.32	0.00	-46.98	-674.86	2353.40	1051.76	11.46	-2.08
11.	KAMAHOLD	2440.10	8.41	7830.42	1.70	584.02	10.80	4657.56	7.07	20.86	22.01
12.	PILANIINVS	4285.35	0.00	4744.85	0.21	-47.26	-17.55	14.44	-70.70	1.41	-9.33

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
	9,584	10,607	10,014	9,810	10,119	11,124	11,032	11,259	12,197	13,946	14,583	14,854	17,076
	8,222	9,113	8,461	8,498	8,889	9,772	9,522	9,892	10,730	12,276	12,812	13,173	15,376
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	4	13	7	9	7	8	18	7	11	13	16	30	7
Interest	477	517	516	532	517	520	551	635	663	651	651	653	708
Depreciation	265	252	244	264	242	255	260	309	332	341	361	372	381
	621	736	800	740	742	910	1,043	972	1,029	1,294	1,417	1,420	1,693
Tax %	32.41%	36.48%	31.85%	37.29%	33.77%	33.01%	32.62%	33.20%	33.34%	31.04%	31.39%	37.97%	30.66%
Net Profit	0	0	0	0	481	599	685	644	675	880	969	865	1,174
	97	113	111	110	103	134	191	135	166	219	244	210	30
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 9,584
: 8,222
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 477
Depreciation: 265
: 621
Tax %: 32.41%
Net Profit: 0
: 97
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 10,607
: 9,113
Operating Profit: —
OPM %: —
Other Income: 13
Interest: 517
Depreciation: 252
: 736
Tax %: 36.48%
Net Profit: 0
: 113
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 10,014
: 8,461
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 516
Depreciation: 244
: 800
Tax %: 31.85%
Net Profit: 0
: 111
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 9,810
: 8,498
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 532
Depreciation: 264
: 740
Tax %: 37.29%
Net Profit: 0
: 110
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 10,119
: 8,889
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 517
Depreciation: 242
: 742
Tax %: 33.77%
Net Profit: 481
: 103
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 11,124
: 9,772
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 520
Depreciation: 255
: 910
Tax %: 33.01%
Net Profit: 599
: 134
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 11,032
: 9,522
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 551
Depreciation: 260
: 1,043
Tax %: 32.62%
Net Profit: 685
: 191
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 11,259
: 9,892
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 635
Depreciation: 309
: 972
Tax %: 33.20%
Net Profit: 644
: 135
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 12,197
: 10,730
Operating Profit: —
OPM %: —
Other Income: 11
Interest: 663
Depreciation: 332
: 1,029
Tax %: 33.34%
Net Profit: 675
: 166
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 13,946
: 12,276
Operating Profit: —
OPM %: —
Other Income: 13
Interest: 651
Depreciation: 341
: 1,294
Tax %: 31.04%
Net Profit: 880
: 219
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 14,583
: 12,812
Operating Profit: —
OPM %: —
Other Income: 16
Interest: 651
Depreciation: 361
: 1,417
Tax %: 31.39%
Net Profit: 969
: 244
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 14,854
: 13,173
Operating Profit: —
OPM %: —
Other Income: 30
Interest: 653
Depreciation: 372
: 1,420
Tax %: 37.97%
Net Profit: 865
: 210
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 17,076
: 15,376
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 708
Depreciation: 381
: 1,693
Tax %: 30.66%
Net Profit: 1,174
: 30
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

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
	13,498	17,512	21,548	19,859	20,299	25,591	33,662	39,882	44,993	58,154	60,458
	12,497	16,002	19,209	17,448	17,910	22,603	29,316	34,073	38,075	48,991	53,638
Operating Profit	1,172	1,658	2,367	2,467	2,451	3,022	4,375	5,843	6,958	9,233	—
OPM %	9	9	11	12	12	12	13	15	15	16	—
Other Income	171	148	28	56	63	34	29	34	40	70	65
Interest	88	372	719	910	929	985	1,424	2,032	2,223	2,617	2,663
Depreciation	377	447	534	649	643	845	986	1,011	1,067	1,406	1,455
	710	841	1,118	845	854	1,184	2,013	2,751	3,594	5,119	5,823
Tax %	23	25	33	26	31	30	34	36	34	34	33
Net Profit	547	629	750	627	592	824	1,333	1,757	2,379	3,390	3,918
EPS	163	167	214	167	160	218	321	395	575	838	—
Dividend Payout %	19	9	17	19	16	20	18	24	16	10	—
Minority Interest	-217	-291	-318	-289	-268	-384	-684	-982	-1,245	-1,694	309
Share of Associates	0	0	0	0	0	0	0	0	0	0	-44
Adjusted EPS	163	167	214	167	160	218	321	395	575	838	—
Minority Interest	-217	-291	-318	-289	-268	-384	-684	-982	-1,245	-1,694	309
Share of Associates	0	0	0	0	0	0	0	0	0	0	-44
Adjusted EPS	163	167	214	167	160	218	321	395	575	838	—

Mar 2017

: 13,498
: 12,497
Operating Profit: 1,172
OPM %: 9
Other Income: 171
Interest: 88
Depreciation: 377
: 710
Tax %: 23
Net Profit: 547
EPS: 163
Dividend Payout %: 19
Minority Interest: -217
Share of Associates: 0
Adjusted EPS: 163
Minority Interest: -217
Share of Associates: 0
Adjusted EPS: 163

Mar 2018

: 17,512
: 16,002
Operating Profit: 1,658
OPM %: 9
Other Income: 148
Interest: 372
Depreciation: 447
: 841
Tax %: 25
Net Profit: 629
EPS: 167
Dividend Payout %: 9
Minority Interest: -291
Share of Associates: 0
Adjusted EPS: 167
Minority Interest: -291
Share of Associates: 0
Adjusted EPS: 167

Mar 2019

: 21,548
: 19,209
Operating Profit: 2,367
OPM %: 11
Other Income: 28
Interest: 719
Depreciation: 534
: 1,118
Tax %: 33
Net Profit: 750
EPS: 214
Dividend Payout %: 17
Minority Interest: -318
Share of Associates: 0
Adjusted EPS: 214
Minority Interest: -318
Share of Associates: 0
Adjusted EPS: 214

Mar 2020

: 19,859
: 17,448
Operating Profit: 2,467
OPM %: 12
Other Income: 56
Interest: 910
Depreciation: 649
: 845
Tax %: 26
Net Profit: 627
EPS: 167
Dividend Payout %: 19
Minority Interest: -289
Share of Associates: 0
Adjusted EPS: 167
Minority Interest: -289
Share of Associates: 0
Adjusted EPS: 167

Mar 2021

: 20,299
: 17,910
Operating Profit: 2,451
OPM %: 12
Other Income: 63
Interest: 929
Depreciation: 643
: 854
Tax %: 31
Net Profit: 592
EPS: 160
Dividend Payout %: 16
Minority Interest: -268
Share of Associates: 0
Adjusted EPS: 160
Minority Interest: -268
Share of Associates: 0
Adjusted EPS: 160

Mar 2022

: 25,591
: 22,603
Operating Profit: 3,022
OPM %: 12
Other Income: 34
Interest: 985
Depreciation: 845
: 1,184
Tax %: 30
Net Profit: 824
EPS: 218
Dividend Payout %: 20
Minority Interest: -384
Share of Associates: 0
Adjusted EPS: 218
Minority Interest: -384
Share of Associates: 0
Adjusted EPS: 218

Mar 2023

: 33,662
: 29,316
Operating Profit: 4,375
OPM %: 13
Other Income: 29
Interest: 1,424
Depreciation: 986
: 2,013
Tax %: 34
Net Profit: 1,333
EPS: 321
Dividend Payout %: 18
Minority Interest: -684
Share of Associates: 0
Adjusted EPS: 321
Minority Interest: -684
Share of Associates: 0
Adjusted EPS: 321

Mar 2024

: 39,882
: 34,073
Operating Profit: 5,843
OPM %: 15
Other Income: 34
Interest: 2,032
Depreciation: 1,011
: 2,751
Tax %: 36
Net Profit: 1,757
EPS: 395
Dividend Payout %: 24
Minority Interest: -982
Share of Associates: 0
Adjusted EPS: 395
Minority Interest: -982
Share of Associates: 0
Adjusted EPS: 395

Mar 2025

: 44,993
: 38,075
Operating Profit: 6,958
OPM %: 15
Other Income: 40
Interest: 2,223
Depreciation: 1,067
: 3,594
Tax %: 34
Net Profit: 2,379
EPS: 575
Dividend Payout %: 16
Minority Interest: -1,245
Share of Associates: 0
Adjusted EPS: 575
Minority Interest: -1,245
Share of Associates: 0
Adjusted EPS: 575

Mar 2026

: 58,154
: 48,991
Operating Profit: 9,233
OPM %: 16
Other Income: 70
Interest: 2,617
Depreciation: 1,406
: 5,119
Tax %: 34
Net Profit: 3,390
EPS: 838
Dividend Payout %: 10
Minority Interest: -1,694
Share of Associates: 0
Adjusted EPS: 838
Minority Interest: -1,694
Share of Associates: 0
Adjusted EPS: 838

TTM

: 60,458
: 53,638
Operating Profit: —
OPM %: —
Other Income: 65
Interest: 2,663
Depreciation: 1,455
: 5,823
Tax %: 33
Net Profit: 3,918
EPS: —
Dividend Payout %: —
Minority Interest: 309
Share of Associates: -44
Adjusted EPS: —
Minority Interest: 309
Share of Associates: -44
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 23%
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 39%
3 Years:: 38%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 36%
1 Year:: 14%

RETURN ON EQUITY

10 Years:: 38%
5 Years:: 47%
3 Years:: 61%
Last Year:: 61%

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	10	10	10	10	10	10	10	10	10	10
	1,857	2,141	2,464	2,453	2,894	5,069	3,231	2,830	4,677	6,455
	1,042	4,954	4,729	6,552	5,927	8,289	5,309	6,386	6,301	7,596
Trade Payables	2,107	3,014	3,343	3,334	4,536	4,910	5,474	6,697	7,666	9,965
	2,301	4,642	7,624	8,263	9,941	12,056	25,019	28,368	34,671	39,005
Total Liabilities	7,317	14,761	18,170	20,612	23,309	30,334	39,044	44,292	53,324	63,031
ASSETS	-	-	-	-	-	-	-	-	-	-
	2,819	3,489	3,892	4,322	4,713	6,202	6,794	5,489	7,378	8,797
Capital Work in Progress	101	356	615	858	883	329	394	334	668	976
	1,333	607	618	472	673	644	1,022	1,204	1,320	1,217
	1,397	1,417	1,623	1,459	1,668	2,013	2,332	4,035	2,417	2,459
	0	0	0	0	0	0	0	1,855	1,750	2,685
Cash & Bank	53	175	210	1,160	1,706	3,934	3,929	3,170	5,135	5,403
	1,615	8,716	11,212	12,340	13,666	17,212	24,574	28,204	34,658	41,495
Total Assets	7,317	14,761	18,170	20,612	23,309	30,334	39,044	44,292	53,324	63,031
Total Debt	1,665	7,593	10,022	12,021	12,562	16,030	25,013	26,232	32,488	36,156
Net Working Capital	-750	-1,552	131	-369	-368	1,285	-3,610	-6,755	-5,791	-7,823
Contingent Liabilities	289	379	410	237	376	414	404	1,101	498	813
Book Value per Share	922.44	1062.96	1222.23	1217.12	1435.07	2509.51	1601.28	1403.20	2315.77	3194.06
Face Value	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00
Total Debt	1,665	7,593	10,022	12,021	12,562	16,030	25,013	26,232	32,488	36,156
Net Working Capital	-750	-1,552	131	-369	-368	1,285	-3,610	-6,755	-5,791	-7,823
Contingent Liabilities	289	379	410	237	376	414	404	1,101	498	813
Book Value per Share	922.44	1062.96	1222.23	1217.12	1435.07	2509.51	1601.28	1403.20	2315.77	3194.06
Face Value	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00

Mar 2017

Equity Capital: 10
: 1,857
: 1,042
Trade Payables: 2,107
: 2,301
Total Liabilities: 7,317
: 2,819
Capital Work in Progress: 101
: 1,333
: 1,397
: 0
Cash & Bank: 53
: 1,615
Total Assets: 7,317
Total Debt: 1,665
Net Working Capital: -750
Contingent Liabilities: 289
Book Value per Share: 922.44
Face Value: 5.00
Total Debt: 1,665
Net Working Capital: -750
Contingent Liabilities: 289
Book Value per Share: 922.44
Face Value: 5.00

Mar 2018

Equity Capital: 10
: 2,141
: 4,954
Trade Payables: 3,014
: 4,642
Total Liabilities: 14,761
: 3,489
Capital Work in Progress: 356
: 607
: 1,417
: 0
Cash & Bank: 175
: 8,716
Total Assets: 14,761
Total Debt: 7,593
Net Working Capital: -1,552
Contingent Liabilities: 379
Book Value per Share: 1062.96
Face Value: 5.00
Total Debt: 7,593
Net Working Capital: -1,552
Contingent Liabilities: 379
Book Value per Share: 1062.96
Face Value: 5.00

Mar 2019

Equity Capital: 10
: 2,464
: 4,729
Trade Payables: 3,343
: 7,624
Total Liabilities: 18,170
: 3,892
Capital Work in Progress: 615
: 618
: 1,623
: 0
Cash & Bank: 210
: 11,212
Total Assets: 18,170
Total Debt: 10,022
Net Working Capital: 131
Contingent Liabilities: 410
Book Value per Share: 1222.23
Face Value: 5.00
Total Debt: 10,022
Net Working Capital: 131
Contingent Liabilities: 410
Book Value per Share: 1222.23
Face Value: 5.00

Mar 2020

Equity Capital: 10
: 2,453
: 6,552
Trade Payables: 3,334
: 8,263
Total Liabilities: 20,612
: 4,322
Capital Work in Progress: 858
: 472
: 1,459
: 0
Cash & Bank: 1,160
: 12,340
Total Assets: 20,612
Total Debt: 12,021
Net Working Capital: -369
Contingent Liabilities: 237
Book Value per Share: 1217.12
Face Value: 5.00
Total Debt: 12,021
Net Working Capital: -369
Contingent Liabilities: 237
Book Value per Share: 1217.12
Face Value: 5.00

Mar 2021

Equity Capital: 10
: 2,894
: 5,927
Trade Payables: 4,536
: 9,941
Total Liabilities: 23,309
: 4,713
Capital Work in Progress: 883
: 673
: 1,668
: 0
Cash & Bank: 1,706
: 13,666
Total Assets: 23,309
Total Debt: 12,562
Net Working Capital: -368
Contingent Liabilities: 376
Book Value per Share: 1435.07
Face Value: 5.00
Total Debt: 12,562
Net Working Capital: -368
Contingent Liabilities: 376
Book Value per Share: 1435.07
Face Value: 5.00

Mar 2022

Equity Capital: 10
: 5,069
: 8,289
Trade Payables: 4,910
: 12,056
Total Liabilities: 30,334
: 6,202
Capital Work in Progress: 329
: 644
: 2,013
: 0
Cash & Bank: 3,934
: 17,212
Total Assets: 30,334
Total Debt: 16,030
Net Working Capital: 1,285
Contingent Liabilities: 414
Book Value per Share: 2509.51
Face Value: 5.00
Total Debt: 16,030
Net Working Capital: 1,285
Contingent Liabilities: 414
Book Value per Share: 2509.51
Face Value: 5.00

Mar 2023

Equity Capital: 10
: 3,231
: 5,309
Trade Payables: 5,474
: 25,019
Total Liabilities: 39,044
: 6,794
Capital Work in Progress: 394
: 1,022
: 2,332
: 0
Cash & Bank: 3,929
: 24,574
Total Assets: 39,044
Total Debt: 25,013
Net Working Capital: -3,610
Contingent Liabilities: 404
Book Value per Share: 1601.28
Face Value: 5.00
Total Debt: 25,013
Net Working Capital: -3,610
Contingent Liabilities: 404
Book Value per Share: 1601.28
Face Value: 5.00

Mar 2024

Equity Capital: 10
: 2,830
: 6,386
Trade Payables: 6,697
: 28,368
Total Liabilities: 44,292
: 5,489
Capital Work in Progress: 334
: 1,204
: 4,035
: 1,855
Cash & Bank: 3,170
: 28,204
Total Assets: 44,292
Total Debt: 26,232
Net Working Capital: -6,755
Contingent Liabilities: 1,101
Book Value per Share: 1403.20
Face Value: 5.00
Total Debt: 26,232
Net Working Capital: -6,755
Contingent Liabilities: 1,101
Book Value per Share: 1403.20
Face Value: 5.00

Mar 2025

Equity Capital: 10
: 4,677
: 6,301
Trade Payables: 7,666
: 34,671
Total Liabilities: 53,324
: 7,378
Capital Work in Progress: 668
: 1,320
: 2,417
: 1,750
Cash & Bank: 5,135
: 34,658
Total Assets: 53,324
Total Debt: 32,488
Net Working Capital: -5,791
Contingent Liabilities: 498
Book Value per Share: 2315.77
Face Value: 5.00
Total Debt: 32,488
Net Working Capital: -5,791
Contingent Liabilities: 498
Book Value per Share: 2315.77
Face Value: 5.00

Mar 2026

Equity Capital: 10
: 6,455
: 7,596
Trade Payables: 9,965
: 39,005
Total Liabilities: 63,031
: 8,797
Capital Work in Progress: 976
: 1,217
: 2,459
: 2,685
Cash & Bank: 5,403
: 41,495
Total Assets: 63,031
Total Debt: 36,156
Net Working Capital: -7,823
Contingent Liabilities: 813
Book Value per Share: 3194.06
Face Value: 5.00
Total Debt: 36,156
Net Working Capital: -7,823
Contingent Liabilities: 813
Book Value per Share: 3194.06
Face Value: 5.00

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
	838	324	-710	458	1,215	-1,548	-4,111	-867	3,535	1,137
Cash from Investing	-818	-1,379	-1,324	-1,055	-979	-1,705	-1,439	961	-3,227	-3,015
Cash from Financing	-61	1,198	2,085	1,795	261	3,116	5,979	847	1,209	1,792
	-40	143	51	1,199	496	-137	429	941	1,516	-86
Free Cash Flow	165	-961	-1,803	-731	137	-3,248	-5,533	-867	85	-1,813
OCF / Net Profit	1.53	0.52	-0.95	0.73	2.05	-1.88	-3.08	-0.49	1.49	0.34
Cumulative 5-Year FCF	0	0	0	0	-3,193	-6,606	-11,177	-10,241	-9,425	-11,375
OCF / Net Profit	1.53	0.52	-0.95	0.73	2.05	-1.88	-3.08	-0.49	1.49	0.34
Cumulative 5-Year FCF	0	0	0	0	-3,193	-6,606	-11,177	-10,241	-9,425	-11,375

Mar 2017

: 838
Cash from Investing: -818
Cash from Financing: -61
: -40
Free Cash Flow: 165
OCF / Net Profit: 1.53
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.53
Cumulative 5-Year FCF: 0

Mar 2018

: 324
Cash from Investing: -1,379
Cash from Financing: 1,198
: 143
Free Cash Flow: -961
OCF / Net Profit: 0.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.52
Cumulative 5-Year FCF: 0

Mar 2019

: -710
Cash from Investing: -1,324
Cash from Financing: 2,085
: 51
Free Cash Flow: -1,803
OCF / Net Profit: -0.95
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.95
Cumulative 5-Year FCF: 0

Mar 2020

: 458
Cash from Investing: -1,055
Cash from Financing: 1,795
: 1,199
Free Cash Flow: -731
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0

Mar 2021

: 1,215
Cash from Investing: -979
Cash from Financing: 261
: 496
Free Cash Flow: 137
OCF / Net Profit: 2.05
Cumulative 5-Year FCF: -3,193
OCF / Net Profit: 2.05
Cumulative 5-Year FCF: -3,193

Mar 2022

: -1,548
Cash from Investing: -1,705
Cash from Financing: 3,116
: -137
Free Cash Flow: -3,248
OCF / Net Profit: -1.88
Cumulative 5-Year FCF: -6,606
OCF / Net Profit: -1.88
Cumulative 5-Year FCF: -6,606

Mar 2023

: -4,111
Cash from Investing: -1,439
Cash from Financing: 5,979
: 429
Free Cash Flow: -5,533
OCF / Net Profit: -3.08
Cumulative 5-Year FCF: -11,177
OCF / Net Profit: -3.08
Cumulative 5-Year FCF: -11,177

Mar 2024

: -867
Cash from Investing: 961
Cash from Financing: 847
: 941
Free Cash Flow: -867
OCF / Net Profit: -0.49
Cumulative 5-Year FCF: -10,241
OCF / Net Profit: -0.49
Cumulative 5-Year FCF: -10,241

Mar 2025

: 3,535
Cash from Investing: -3,227
Cash from Financing: 1,209
: 1,516
Free Cash Flow: 85
OCF / Net Profit: 1.49
Cumulative 5-Year FCF: -9,425
OCF / Net Profit: 1.49
Cumulative 5-Year FCF: -9,425

Mar 2026

: 1,137
Cash from Investing: -3,015
Cash from Financing: 1,792
: -86
Free Cash Flow: -1,813
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: -11,375
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: -11,375

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
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	163.14	167.06	213.51	166.56	159.92	217.76	320.97	395.45	575.19	837.79
Book Value (₹)	922.44	1062.96	1222.23	1217.12	1435.07	2509.51	1601.28	1403.20	2315.77	3194.06
Dividend per Share (₹)	31.50	15.00	36.00	31.00	26.00	44.00	59.00	94.00	93.00	86.00
Cash EPS (₹)	456.78	531.35	634.22	630.04	610.09	824.64	1145.75	1367.81	1702.66	2369.57
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	8.68%	9.47%	10.98%	12.42%	12.08%	11.81%	13.00%	14.56%	15.38%	15.76%
Net Margin %	4.05%	3.59%	3.48%	3.16%	2.92%	3.22%	3.96%	4.41%	5.29%	5.83%
ROE %	32.28%	31.29%	32.42%	25.38%	22.06%	20.65%	32.05%	57.80%	63.22%	60.80%
ROCE %	24.49%	18.27%	16.51%	13.01%	11.91%	11.86%	13.93%	16.69%	17.56%	19.39%
	8.08%	5.70%	4.55%	3.23%	2.70%	3.07%	3.84%	4.22%	4.87%	5.83%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	20	22	26	30	25	18	15	15	15	14
Inventory Days	34	29	26	28	28	26	24	29	26	15
Payable Days	76	80	80	96	109	103	88	90	97	92
	-22	-28	-29	-37	-55	-59	-49	-45	-56	-63
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.89x	3.53x	4.05x	4.88x	4.32x	3.16x	7.72x	9.24x	6.93x	5.59x
Interest Coverage (x)	9.05x	3.26x	2.56x	1.93x	1.92x	2.20x	2.41x	2.35x	2.62x	2.96x
	0.79x	0.82x	1.01x	0.97x	0.97x	1.09x	0.73x	0.62x	0.67x	0.64x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	8.30%	29.73%	23.05%	-7.84%	2.22%	26.07%	31.54%	18.48%	12.82%	29.25%
Operating Profit Growth %	11.50%	41.44%	42.74%	4.24%	-0.64%	23.30%	44.74%	33.57%	19.09%	32.70%
Net Profit Growth %	15.81%	14.94%	19.24%	-16.43%	-5.50%	39.25%	61.70%	31.82%	35.39%	42.48%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.20%	45.45%	45.66%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	20.63x	14.94x	16.67x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.81x	3.71x	4.37x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.15%	1.08%	0.62%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.77x	6.43x	6.39x

Mar 2017

EPS (₹): 163.14
Book Value (₹): 922.44
Dividend per Share (₹): 31.50
Cash EPS (₹): 456.78
Operating Margin %: 8.68%
Net Margin %: 4.05%
ROE %: 32.28%
ROCE %: 24.49%
: 8.08%
Debtor Days: 20
Inventory Days: 34
Payable Days: 76
: -22
Debt to Equity (x): 0.89x
Interest Coverage (x): 9.05x
: 0.79x
Revenue Growth %: 8.30%
Operating Profit Growth %: 11.50%
Net Profit Growth %: 15.81%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 167.06
Book Value (₹): 1062.96
Dividend per Share (₹): 15.00
Cash EPS (₹): 531.35
Operating Margin %: 9.47%
Net Margin %: 3.59%
ROE %: 31.29%
ROCE %: 18.27%
: 5.70%
Debtor Days: 22
Inventory Days: 29
Payable Days: 80
: -28
Debt to Equity (x): 3.53x
Interest Coverage (x): 3.26x
: 0.82x
Revenue Growth %: 29.73%
Operating Profit Growth %: 41.44%
Net Profit Growth %: 14.94%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 213.51
Book Value (₹): 1222.23
Dividend per Share (₹): 36.00
Cash EPS (₹): 634.22
Operating Margin %: 10.98%
Net Margin %: 3.48%
ROE %: 32.42%
ROCE %: 16.51%
: 4.55%
Debtor Days: 26
Inventory Days: 26
Payable Days: 80
: -29
Debt to Equity (x): 4.05x
Interest Coverage (x): 2.56x
: 1.01x
Revenue Growth %: 23.05%
Operating Profit Growth %: 42.74%
Net Profit Growth %: 19.24%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 166.56
Book Value (₹): 1217.12
Dividend per Share (₹): 31.00
Cash EPS (₹): 630.04
Operating Margin %: 12.42%
Net Margin %: 3.16%
ROE %: 25.38%
ROCE %: 13.01%
: 3.23%
Debtor Days: 30
Inventory Days: 28
Payable Days: 96
: -37
Debt to Equity (x): 4.88x
Interest Coverage (x): 1.93x
: 0.97x
Revenue Growth %: -7.84%
Operating Profit Growth %: 4.24%
Net Profit Growth %: -16.43%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 159.92
Book Value (₹): 1435.07
Dividend per Share (₹): 26.00
Cash EPS (₹): 610.09
Operating Margin %: 12.08%
Net Margin %: 2.92%
ROE %: 22.06%
ROCE %: 11.91%
: 2.70%
Debtor Days: 25
Inventory Days: 28
Payable Days: 109
: -55
Debt to Equity (x): 4.32x
Interest Coverage (x): 1.92x
: 0.97x
Revenue Growth %: 2.22%
Operating Profit Growth %: -0.64%
Net Profit Growth %: -5.50%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 217.76
Book Value (₹): 2509.51
Dividend per Share (₹): 44.00
Cash EPS (₹): 824.64
Operating Margin %: 11.81%
Net Margin %: 3.22%
ROE %: 20.65%
ROCE %: 11.86%
: 3.07%
Debtor Days: 18
Inventory Days: 26
Payable Days: 103
: -59
Debt to Equity (x): 3.16x
Interest Coverage (x): 2.20x
: 1.09x
Revenue Growth %: 26.07%
Operating Profit Growth %: 23.30%
Net Profit Growth %: 39.25%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 320.97
Book Value (₹): 1601.28
Dividend per Share (₹): 59.00
Cash EPS (₹): 1145.75
Operating Margin %: 13.00%
Net Margin %: 3.96%
ROE %: 32.05%
ROCE %: 13.93%
: 3.84%
Debtor Days: 15
Inventory Days: 24
Payable Days: 88
: -49
Debt to Equity (x): 7.72x
Interest Coverage (x): 2.41x
: 0.73x
Revenue Growth %: 31.54%
Operating Profit Growth %: 44.74%
Net Profit Growth %: 61.70%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 395.45
Book Value (₹): 1403.20
Dividend per Share (₹): 94.00
Cash EPS (₹): 1367.81
Operating Margin %: 14.56%
Net Margin %: 4.41%
ROE %: 57.80%
ROCE %: 16.69%
: 4.22%
Debtor Days: 15
Inventory Days: 29
Payable Days: 90
: -45
Debt to Equity (x): 9.24x
Interest Coverage (x): 2.35x
: 0.62x
Revenue Growth %: 18.48%
Operating Profit Growth %: 33.57%
Net Profit Growth %: 31.82%
: 23.20%
P/E (x): 20.63x
P/B (x): 5.81x
Dividend Yield %: 1.15%
: 6.77x

Mar 2025

EPS (₹): 575.19
Book Value (₹): 2315.77
Dividend per Share (₹): 93.00
Cash EPS (₹): 1702.66
Operating Margin %: 15.38%
Net Margin %: 5.29%
ROE %: 63.22%
ROCE %: 17.56%
: 4.87%
Debtor Days: 15
Inventory Days: 26
Payable Days: 97
: -56
Debt to Equity (x): 6.93x
Interest Coverage (x): 2.62x
: 0.67x
Revenue Growth %: 12.82%
Operating Profit Growth %: 19.09%
Net Profit Growth %: 35.39%
: 45.45%
P/E (x): 14.94x
P/B (x): 3.71x
Dividend Yield %: 1.08%
: 6.43x

Mar 2026

EPS (₹): 837.79
Book Value (₹): 3194.06
Dividend per Share (₹): 86.00
Cash EPS (₹): 2369.57
Operating Margin %: 15.76%
Net Margin %: 5.83%
ROE %: 60.80%
ROCE %: 19.39%
: 5.83%
Debtor Days: 14
Inventory Days: 15
Payable Days: 92
: -63
Debt to Equity (x): 5.59x
Interest Coverage (x): 2.96x
: 0.64x
Revenue Growth %: 29.25%
Operating Profit Growth %: 32.70%
Net Profit Growth %: 42.48%
: 45.66%
P/E (x): 16.67x
P/B (x): 4.37x
Dividend Yield %: 0.62%
: 6.39x

Shareholding Pattern

Numbers in percentages

TRADES

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
74.45	74.45	74.45	74.45	74.45	74.45	74.45	74.45	74.45
2.53	2.62	2.65	2.69	2.84	3.01	3.13	3.29	3.25
10.48	10.31	10.13	10.28	10.02	9.87	9.86	9.83	9.79
0.00	0.00	0.02	0.02	0.00	0.00	0.00	0.00	0.00
12.54	12.62	12.73	12.55	12.69	12.67	12.56	12.43	12.51

Jun 2024

: 74.45
: 2.53
: 10.48
: 0.00
: 12.54

Sep 2024

: 74.45
: 2.62
: 10.31
: 0.00
: 12.62

Dec 2024

: 74.45
: 2.65
: 10.13
: 0.02
: 12.73

Mar 2025

: 74.45
: 2.69
: 10.28
: 0.02
: 12.55

Jun 2025

: 74.45
: 2.84
: 10.02
: 0.00
: 12.69

Sep 2025

: 74.45
: 3.01
: 9.87
: 0.00
: 12.67

Dec 2025

: 74.45
: 3.13
: 9.86
: 0.00
: 12.56

Mar 2026

: 74.45
: 3.29
: 9.83
: 0.00
: 12.43

Jun 2026

: 74.45
: 3.25
: 9.79
: 0.00
: 12.51

Documents

Announcements

General Updates
2026-08-19 - TVS Holdings Limited has informed the Exchange about approval of the Scheme of Arrangement between TVS Holdings Limited and its shareholders
Amalgamation/Merger
2026-08-05 - TVS Holdings Limited has informed the Exchange about Amalgamation/Merger

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.