TVS Motor Company Ltd.

NSE: TVSMOTOR · 2/3 Wheelers

52W Range₹3,228 ₹4,485

Snapshot

Unlock TVS Motor Company Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

TVS Motor Company is a prominent Indian manufacturer of two-wheelers and three-wheelers, offering a diverse portfolio including motorcycles, scooters, mopeds, and electric vehicles. The company also provides automotive components and financial services to support its distribution network.

Business Model

The company generates revenue through the manufacturing and sale of automotive vehicles, spare parts, and accessories, supported by a widespread network of authorised dealers. It further enhances its revenue stream by providing financing solutions for its two-wheeler customers.

Growth Outlook

Growth is primarily driven by the expansion of the electric vehicle portfolio under the TVS iQUBE brand and the strengthening of its international presence across the Middle East, Africa, and Southeast Asia. Continued investment in e-mobility solutions remains a key strategic focus.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials like steel, aluminium, and rubber can significantly impact manufacturing margins.
  • Intense Market Competition. The Indian two-wheeler market is highly competitive, requiring constant innovation and aggressive pricing to maintain market share.
  • Regulatory and Emission Standards. Stringent and evolving government regulations regarding vehicle emissions and safety standards necessitate continuous R&D investment.
  • Geopolitical Risks. Operating in diverse international markets exposes the company to currency fluctuations and potential trade barriers.

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Key Metrics

REVENUE

₹60,155 Cr

TTM · consolidated

+30.2%YoY

NET PROFIT

₹3,601 Cr

TTM · consolidated

+41.9%YoY

EPS

₹72.15

TTM · consolidated

+43.8%YoY

RETURN ON EQUITY

39.9%

TTM · consolidated

+10.1 ppYoY

RETURN ON CAPITAL EMPLOYED

31.4%

TTM · consolidated

+7.3 ppYoY

P/E

57.3x

Q1 FY27 · consolidated

57.3 vs 123.8x5Y avg

EV/EBITDA

24.7x

Q1 FY27 · consolidated

24.7 vs 53.2x5Y avg

EBITDA MARGIN

15.1%

TTM · consolidated

-0.3 ppYoY

NET PROFIT MARGIN

6.5%

Q1 FY27 · consolidated

+1.2 ppYoY

DEBT TO EQUITY

2.8%

Q1 FY27 · consolidated

-0.5 ppYoY

Peers · 2/3 Wheelers

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
TVS Motor Company Ltd.TVSMOTOR
₹1.96L Cr57.2824.6830.2%15.1%39.9%31.4%+20.4%
Bajaj Auto Ltd.BAJAJ-AUTO
₹3.33L Cr28.3020.5236.9%24.0%31.2%32.2%+31.4%
Eicher Motors Ltd.EICHERMOT
₹2.09L Cr36.2627.2828.1%30.7%24.9%26.8%+18.8%
Hero MotoCorp Ltd.HEROMOTOCO
₹1.06L Cr19.4612.3325.6%16.9%26.8%34.2%-1.0%
Ather Energy Ltd.ATHERENERG
₹60,686 Cr-155.75-431.93-3.3%-25.4%-14.6%+225.2%
Ola Electric Mobility Ltd.OLAELEC
₹17,681 Cr-9.72-26.24-49.2%-40.0%-41.0%-22.4%-40.8%

As of Q1 FY27

Financials