Prabhudas Lilladher's research report on TVS Motor Company
TVSL reported its highest-ever quarterly revenue and EBITDA margin, both beating estimates, aided by the recognition of PLI, demand improvement led by low inflation, improved product mix, price increases and cost reduction. The management expects domestic 2W industry to clock 8-9% CAGR in the long term driven by infra development, improved connectivity, and persistent mobility needs, and we believe TVSL is well positioned to outperform the industry.
Outlook
We estimate volume/realization CAGR of 12.7%/3.9% over FY25-28E translating to revenue/EBITDA/EPS CAGR of 17.1%/20.8%/22.5%. Retain ‘ACCUMULATE’ with TP of Rs4,200 (previously Rs4,360), valuing the stock at 42x P/E based on Sep’27 EPS, and Rs80 for TVS Credit Services Ltd.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
