Motilal Oswal's research report on TVS Motor Company
TVS Motor Company (TVSL)’s operating performance was in line in 4QFY23. TVSL posted the highest ever EBITDA margin at 10.3% (+20bp QoQ; in line). This is likely to remain stable in the coming quarter as moderate increase in RM prices in 1QFY24 should be offset by ~2% price hike (including 1% against OBD-2 related cost).
Outlook
We retain our FY24E/FY25E EPS. Reiterate Neutral with a TP of ~INR1,060 (based on ~20x Mar’25E EPS + INR69/sh for the NBFC).
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.
