TVS Motor Company Ltd., incorporated in the year 1992, is a Large Cap company (having a market cap of Rs 28954.18 Crore) operating in Auto sector.
TVS Motor Company Ltd. key Products/Revenue Segments include Automobile – 2 & 3 Wheelers, Accessories & Spares, Other Operating Revenue, Sale of services for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company has reported a Consolidated Total Income of Rs 4692.03 Crore, down -23.59 % from last quarter Total Income of Rs 6140.54 Crore and up 141.07 % from last year same quarter Total Income of Rs 1946.35 Crore. Company has reported net profit after tax of Rs -15.18 Crore in latest quarter.
Investment Rationale
The brokerage increases FY22-24 EPS estimates by 1-3% on higher revenue assumptions. It expects robust revenue/earnings CAGRs of 13%/27% over FY22-24E. It retains Buy with a TP of Rs 800 (Rs780 earlier), based on 24x Dec’23E EPS (25x Sep’23E earlier) and the value of TVS credit services at Rs26/share.
Promoter/FII Holdings
Promoters held 52.26 per cent stake in the company as of 30-Sep-2021, while FIIs owned 12.77 per cent, DIIs 25.16 per cent.
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