TVS Motor's stock ended at Rs 3,219.70 on Monday, a gain of 6.6% for the day. This made it one of the top gainers on the Nifty Next 50 in yesterday's trading session.
Financial Snapshot: Here's an overview of TVS Motor's financial performance:
| Financial Year | Revenue (Rs Crore) | Net Profit (Rs Crore) | EPS (Rs) | BVPS (Rs) | ROE (%) | Debt to Equity |
|---|---|---|---|---|---|---|
| 2021 | 19,420.82 | 615.25 | 12.51 | 88.71 | 15.52 | 2.44 |
| 2022 | 24,355.31 | 728.39 | 15.93 | 106.36 | 17.20 | 3.48 |
| 2023 | 31,973.99 | 1,350.19 | 27.97 | 124.39 | 24.13 | 3.93 |
| 2024 | 39,144.74 | 1,822.01 | 35.50 | 142.78 | 24.85 | 3.73 |
| 2025 | 44,089.01 | 2,424.02 | 47.05 | 178.98 | 26.29 | 3.25 |
The company has shown consistent growth in revenue and net profit over the past five years. Revenue increased from Rs 19,420.82 Crore in 2021 to Rs 44,089.01 Crore in 2025. Net profit also saw a substantial increase from Rs 615.25 Crore in 2021 to Rs 2,424.02 Crore in 2025.
| Quarter | Revenue (Rs Crore) | Net Profit (Rs Crore) | EPS (Rs) |
|---|---|---|---|
| Jun 2024 | 10,406.86 | 502.85 | 9.70 |
| Sep 2024 | 11,301.68 | 606.96 | 11.80 |
| Dec 2024 | 11,134.63 | 630.55 | 11.91 |
| Mar 2025 | 11,542.00 | 713.57 | 13.64 |
| Jun 2025 | 12,210.05 | 653.78 | 12.84 |
The quarterly financials also reveal a positive trend. The revenue for the quarter-ending June 2025 reached Rs 12,210.05 Crore, with a net profit of Rs 653.78 Crore and EPS of Rs 12.84.
Income Statement (Consolidated - Annual):
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | 44,089 Cr | 39,144 Cr | 31,973 Cr | 24,355 Cr | 19,420 Cr |
| Other Income | 69 Cr | 105 Cr | 138 Cr | 32 Cr | 47 Cr |
| Total Income | 44,158 Cr | 39,250 Cr | 32,111 Cr | 24,388 Cr | 19,468 Cr |
| Total Expenditure | 38,485 Cr | 34,576 Cr | 28,767 Cr | 22,383 Cr | 17,757 Cr |
| EBIT | 5,672 Cr | 4,674 Cr | 3,344 Cr | 2,004 Cr | 1,710 Cr |
| Interest | 2,093 Cr | 1,927 Cr | 1,367 Cr | 940 Cr | 881 Cr |
| Tax | 1,155 Cr | 924 Cr | 626 Cr | 335 Cr | 214 Cr |
| Net Profit | 2,424 Cr | 1,822 Cr | 1,350 Cr | 728 Cr | 615 Cr |
The annual income statement shows a steady increase in sales and net profit. Sales increased from Rs 19,420 Crore in March 2021 to Rs 44,089 Crore in March 2025. Net profit also rose from Rs 615 Crore to Rs 2,424 Crore during the same period.
Income Statement (Consolidated - Quarterly):
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | 12,210 Cr | 11,542 Cr | 11,134 Cr | 11,301 Cr | 10,406 Cr |
| Other Income | 39 Cr | -68 Cr | 65 Cr | 32 Cr | 40 Cr |
| Total Income | 12,249 Cr | 11,473 Cr | 11,199 Cr | 11,333 Cr | 10,447 Cr |
| Total Expenditure | 10,711 Cr | 9,914 Cr | 9,733 Cr | 9,918 Cr | 9,188 Cr |
| EBIT | 1,538 Cr | 1,570 Cr | 1,466 Cr | 1,415 Cr | 1,259 Cr |
| Interest | 550 Cr | 550 Cr | 539 Cr | 509 Cr | 502 Cr |
| Tax | 334 Cr | 306 Cr | 296 Cr | 299 Cr | 253 Cr |
| Net Profit | 653 Cr | 713 Cr | 630 Cr | 606 Cr | 502 Cr |
The quarterly income statement also reflects positive performance. Sales increased from Rs 10,406 Crore in June 2024 to Rs 12,210 Crore in June 2025. Net profit increased from Rs 502 Crore to Rs 653 Crore during the same period.
Cash Flow (Consolidated - Annual):
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | 3,502 Cr | -1,252 Cr | -4,404 Cr | -1,560 Cr | 1,151 Cr |
| Investing Activities | -2,898 Cr | -1,001 Cr | -1,307 Cr | -1,485 Cr | -882 Cr |
| Financing Activities | 1,155 Cr | 2,758 Cr | 6,118 Cr | 2,918 Cr | 252 Cr |
| Others | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Net Cash Flow | 1,759 Cr | 504 Cr | 405 Cr | -128 Cr | 521 Cr |
The cash flow statement indicates that the company's net cash flow has generally been positive, with fluctuations in operating, investing, and financing activities. The net cash flow for March 2025 was Rs 1,759 Crore.
Balance Sheet (Consolidated - Annual):
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | 47 Cr | 47 Cr | 47 Cr | 47 Cr | 47 Cr |
| Reserves & Surplus | 8,455 Cr | 6,736 Cr | 5,457 Cr | 4,351 Cr | 3,779 Cr |
| Current Liabilities | 23,173 Cr | 21,078 Cr | 19,218 Cr | 13,851 Cr | 10,908 Cr |
| Other Liabilities | 16,259 Cr | 14,358 Cr | 10,509 Cr | 8,820 Cr | 7,257 Cr |
| Total Liabilities | 47,936 Cr | 42,220 Cr | 35,232 Cr | 27,072 Cr | 21,992 Cr |
| Fixed Assets | 8,378 Cr | 6,326 Cr | 5,894 Cr | 5,956 Cr | 5,073 Cr |
| Current Assets | 25,984 Cr | 21,520 Cr | 17,007 Cr | 12,848 Cr | 10,536 Cr |
| Other Assets | 13,574 Cr | 14,373 Cr | 12,331 Cr | 8,267 Cr | 6,382 Cr |
| Total Assets | 47,936 Cr | 42,220 Cr | 35,232 Cr | 27,072 Cr | 21,992 Cr |
| Contingent Liabilities | 878 Cr | 1,158 Cr | 707 Cr | 716 Cr | 629 Cr |
The balance sheet shows that the company's total assets have increased from Rs 21,992 Crore in March 2021 to Rs 47,936 Crore in March 2025. The reserves and surplus have also increased from Rs 3,779 Crore to Rs 8,455 Crore during the same period.
Financial Ratios:
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 12.51 | 15.93 | 27.97 | 35.50 | 47.05 |
| Diluted EPS (Rs.) | 12.51 | 15.93 | 27.97 | 35.50 | 47.05 |
| Book Value / Share (Rs.) | 88.71 | 106.36 | 124.39 | 142.78 | 178.98 |
| Dividend / Share (Rs.) | 3.50 | 3.75 | 5.00 | 8.00 | 10.00 |
| Face Value | 1 | 1 | 1 | 1 | 1 |
| Gross Profit Margin (%) | 11.76 | 11.44 | 13.15 | 14.43 | 15.23 |
| Operating Margin (%) | 8.85 | 8.39 | 10.46 | 11.94 | 12.86 |
| Net Profit Margin (%) | 3.16 | 2.99 | 4.22 | 4.65 | 5.56 |
| Return on Equity (%) | 15.52 | 17.20 | 24.13 | 24.85 | 26.29 |
| ROCE (%) | 15.51 | 15.46 | 20.89 | 22.10 | 22.90 |
| Return On Assets (%) | 2.70 | 2.79 | 3.77 | 3.99 | 4.66 |
| Current Ratio (X) | 0.97 | 0.93 | 0.88 | 1.02 | 1.12 |
| Quick Ratio (X) | 0.84 | 0.81 | 0.78 | 0.91 | 1.02 |
| Debt to Equity (x) | 2.44 | 3.48 | 3.93 | 3.73 | 3.25 |
| Interest Coverage (X) | 1.95 | 2.96 | 3.07 | 2.93 | 3.21 |
| Asset Turnover Ratio (%) | 88.30 | 1.23 | 1.03 | 1.01 | 0.98 |
| Inventory Turnover Ratio (X) | 14.20 | 12.49 | 11.28 | 18.77 | 18.90 |
| 3 Yr CAGR Sales (%) | 9.17 | 9.91 | 30.24 | 41.97 | 34.55 |
| 3 Yr CAGR Net Profit (%) | -3.76 | 0.32 | 43.53 | 72.09 | 82.43 |
| P/E (x) | 46.77 | 39.27 | 38.51 | 60.62 | 51.43 |
| P/B (x) | 7.26 | 6.76 | 9.30 | 15.07 | 13.52 |
| EV/EBITDA (x) | 15.70 | 15.83 | 16.96 | 22.27 | 20.71 |
| P/S (x) | 1.43 | 1.22 | 1.60 | 2.61 | 2.61 |
Key financial ratios show a positive trend in profitability and efficiency. The Return on Equity (ROE) has increased from 15.52% in March 2021 to 26.29% in March 2025. The Debt to Equity ratio decreased from 3.73 in March 2024 to 3.25 in March 2025.
Corporate Actions: TVS Motor has announced several corporate actions, including:
- Amendment to the Memorandum and Articles of Association
- Fixation of 25th August 2025 as the record date for the issue of Bonus Cumulative Non-Convertible Preference Shares (NCRPS)
- Scheme of Arrangement between TVS Motor Company Limited and its shareholders under Sections 230 to 232 of the Companies Act, 2013
- Rs 10.00 per share (1000%) Interim Dividend, effective 26 Mar, 2025
- Rs 8.00 per share (800%) Interim Dividend, effective 19 Mar, 2024
- Rs 5.00 per share (500%) Interim Dividend, effective 02 Feb, 2023
Moneycontrol analysis indicates a very bullish sentiment for TVS Motor as of 2025-08-19.
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