TVS Motors logo

TVS Motors

TVSMOTOR NSE

Key Fundamentals

LargecapBikesAutomobiles
Market Cap
1.9L Cr
Volatility
Moderate
P/E Ratio
57.17
EBITDA
₹8,415 Cr
Return on Equity
29.74%
Debt to Equity
3.43
Book Value
₹201.91
EPS
₹36.05
52W High
₹4,484.5
52W Low
₹3,228

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 38.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.8%
  • Company has been maintaining a healthy dividend payout of 20.9%

Weaknesses

2
  • Stock is trading at 20.5 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
27.02% higher than 3Y
Net Income Growth
35.6% higher than 3Y
Cash Flow Change
-46.71% lower than 3Y
ROE
19.49% lower than 3Y
ROCE
27.64% lower than 3Y
EBITDA Margin (Avg.)
-1.38% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

TVS Motor Company commands a market cap of ₹1,93,769 Cr with a PE of 54.3x and a price-to-book of 20.4x, reflecting premium valuations. The company has delivered strong compounded profit growth of 38% CAGR over 5 years and an ROE of 34% in the last year, while TTM sales growth stands at 31%. Valuation multiples remain elevated relative to earnings and book value, requiring sustained execution to justify current levels.

Bull Case 7
  • Exceptional profit growth with 5-year compounded profit CAGR of 38% and TTM profit growth accelerating to 46%, indicating strong operating leverage
  • Robust return on equity at 34% in the last year, well above the 3-year average of 30% and 10-year average of 26%, showing improving capital efficiency
  • Consistent top-line momentum with TTM sales growth of 31%, 5-year compounded sales CAGR of 24%, and 10-year CAGR of 17%
  • Stock has delivered a 3-year CAGR of 41% and 5-year CAGR of 50%, reflecting sustained investor confidence and earnings delivery
  • Company is expected to deliver a good upcoming quarter, suggesting near-term earnings momentum remains intact
  • Healthy dividend payout ratio of 20.9% maintained consistently, with a current dividend yield of 0.29%
  • Long-term wealth creation track record with 10-year stock CAGR of 29% and 10-year profit CAGR of 23%, demonstrating durability across cycles
Bear Case 8
  • Stock trades at a PE of 54.3x, significantly above the broader market average, leaving limited margin of safety if growth slows
  • Price-to-book ratio of 20.4x is extremely elevated, meaning the market is pricing in substantial future value creation beyond current assets
  • Dividend yield of just 0.29% offers negligible income return, making the stock almost entirely dependent on capital appreciation
  • Potential capitalisation of interest costs could be flattering reported profitability, warranting closer scrutiny of cash flow quality
  • At a market cap of ₹1,93,769 Cr, the stock needs to sustain above-30% profit growth for multiple years to grow into its valuation, raising execution risk
  • ROE and ROCE data points are listed as unavailable in some databases, making independent verification of capital efficiency harder for investors
  • 52-week high and low data are unavailable (reported as 0), limiting technical reference points for assessing current price positioning
  • TTM sales growth of 31% is notably higher than the 10-year CAGR of 17%, suggesting the current pace may be above the sustainable long-term trend

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 2
  • iQube MillionR EV milestone launch Aug 25

    TVS Motor launched the iQube MillionR special edition EV scooter marking 1 million EV customers, featuring 145 km IDC range and Aurora Green dual-tone styling.

  • Jupiter dual tone range launched Aug 27

    TVS launched the Jupiter dual tone spectral range with segment-first Sequential Turn Signal Lamps and USB Type-C charging, refreshing its popular scooter lineup.

Neutral 1
  • Hosur plant visit Sep 9 Sep 4

    TVS Motors hosts a physical plant visit and analyst meet at Hosur on September 9, 2026 at 10:30 am, with Goldman Sachs, UBS, Citadel, and top domestic fund managers attending. No UPSI to be disclosed.

TL;DR: TVS Motor is executing well on both EV and ICE scooter portfolios, crossing the 1 million iQube milestone and refreshing the Jupiter range with new features. No headwinds surfaced in recent news. The upcoming analyst meet at Hosur on Sep 9 could drive near-term sentiment if management signals strong demand or capacity expansion plans.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
9,056
9,933
10,114
9,942
10,314
11,302
11,035
11,542
12,210
14,051
14,756
15,053
16,296
Expenses
7,852
8,588
8,639
8,487
8,884
9,678
9,402
9,638
10,407
11,941
12,488
12,881
13,952
Operating Profit
1,204
1,345
1,475
1,455
1,431
1,624
1,633
1,904
1,803
2,110
2,267
2,172
2,343
OPM %
13%
14%
15%
15%
14%
14%
15%
16%
15%
15%
15%
14%
14%
Other Income
87
51
12
-34
48
32
70
-57
40
-14
-60
7
158
Interest
437
483
494
511
500
509
536
551
551
552
561
566
602
Depreciation
227
237
242
263
241
259
258
292
315
320
323
315
354
PBT
627
676
750
647
738
888
908
1,004
977
1,223
1,323
1,298
1,545
Tax %
30%
38%
32%
36%
34%
34%
33%
31%
34%
32%
33%
37%
32%
Net Profit
441
416
510
412
485
588
609
698
643
833
891
820
1,058
EPS in Rs
9.14
8.13
10.08
8.15
9.7
11.8
11.91
13.64
12.84
16.74
17.71
16.24
21.46
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
10,256
11,377
12,463
16,340
20,160
18,849
19,421
24,355
31,974
38,779
44,089
56,070
60,155
Expenses
9,650
10,558
11,591
14,769
17,997
16,585
17,189
21,601
27,947
33,344
37,501
47,717
51,262
Operating Profit
605
819
871
1,571
2,163
2,264
2,232
2,755
4,027
5,435
6,588
8,352
8,893
OPM %
6%
7%
7%
10%
11%
12%
11%
11%
13%
14%
15%
15%
15%
Other Income
80
93
163
71
25
12
36
-5
136
131
86
-28
90
Interest
62
70
60
338
663
855
881
940
1,368
1,917
2,093
2,230
2,281
Depreciation
179
262
317
374
442
556
565
743
859
956
1,046
1,273
1,312
PBT
444
580
658
931
1,083
865
822
1,067
1,936
2,693
3,535
4,822
5,390
Tax %
28%
26%
23%
29%
33%
25%
26%
31%
32%
34%
33%
34%
—
Net Profit
328
429
509
665
725
647
608
731
1,309
1,779
2,380
3,186
3,601
EPS in Rs
6.91
9.03
10.76
13.73
14.83
13.15
12.51
15.93
27.97
35.5
47.06
63.53
72.15
Div. Payout %
28%
28%
23%
24%
24%
27%
28%
24%
18%
23%
21%
19%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
48
48
48
48
48
48
48
48
48
48
48
48
Reserves
1,277
1,771
2,169
2,630
3,123
3,235
3,779
4,352
5,457
6,736
8,456
9,517
Borrowings
1,119
1,091
1,311
6,928
9,298
11,591
12,179
15,827
22,376
26,006
28,609
32,791
Other Liabilities
2,126
2,236
2,601
3,586
4,228
4,399
5,859
6,692
7,144
9,235
10,539
13,790
Total Liabilities
4,570
5,146
6,128
13,190
16,696
19,272
21,865
26,919
35,025
42,024
47,651
56,146
Fixed Assets
1,637
2,038
2,362
3,094
3,367
3,811
4,221
5,975
5,748
5,891
7,644
8,634
CWIP
93
47
64
313
745
1,006
1,041
552
743
1,033
1,465
2,072
Investments
539
943
1,155
421
440
371
468
605
967
1,123
1,247
1,147
Other Assets
2,301
2,118
2,547
9,362
12,145
14,085
16,135
19,788
27,566
33,977
37,294
44,293
Total Assets
4,570
5,146
6,128
13,190
16,696
19,272
21,865
26,919
35,025
42,024
47,651
56,146
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
83
936
689
354
-918
373
1,151
-1,575
-4,405
-1,253
3,503
1,867
Investing
-415
-605
-709
-1,095
-1,104
-1,090
-882
-1,471
-1,308
-1,481
-2,899
-2,964
Financing
261
-319
-59
897
2,210
1,619
264
2,918
6,118
3,239
1,155
909
Net Cash Flow
-71
12
-79
156
188
902
532
-128
406
505
1,759
-189
Free Cash Flow
-261
424
65
-727
-2,048
-617
227
-2,531
-5,724
-2,363
1,044
-1,280
CFO/OP
40
134
95
43
-28
27
63
-44
-94
-5
71
42
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
15
16
21
24
28
28
19
18
14
17
14
17
Inventory Days
51
40
47
34
34
35
39
37
34
34
33
26
Days Payable
76
74
80
86
83
94
121
105
89
100
103
103
Cash Conversion Cycle
-11
-18
-12
-28
-21
-31
-63
-50
-41
-49
-56
-60
Working Capital Days
-11
-20
-24
-37
-1
-27
-38
-40
-49
-20
-17
-37
ROCE %
21%
22%
22%
19%
16%
13%
11%
11%
13%
15%
15%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.70%Promot.50.27%Public6.45%FIIs20.45%DIIs21.13%As ofJun 2026

Documents

Frequently Asked Questions about TVS Motors

What does TVS Motor Company Ltd do?
TVS Motor Company Ltd (TVSM) is engaged in manufacturing two-wheelers and its accessories; it currently manufactures a wide range of two-wheelers and three-wheelers. [1]
Where is TVS Motor Company Ltd (TVSMOTOR) listed?
TVS Motor Company Ltd trades as TVSMOTOR on the NSE and under code 532343 on the BSE.
Which sector does TVS Motor Company Ltd belong to?
TVS Motor Company Ltd is classified under the Consumer Discretionary sector, in the Automobiles industry.
What is the market capitalisation of TVS Motor Company Ltd?
TVS Motor Company Ltd has a market capitalisation of ₹1,93,769 Cr, which places it in the Large Cap band.
What is the PE ratio of TVS Motor Company Ltd?
TVS Motor Company Ltd trades at a PE ratio of 57.17, on earnings per share of ₹36.05, against a book value of ₹201.91 per share.
What is the 52-week high and low of TVS Motor Company Ltd?
Over the last 52 weeks TVS Motor Company Ltd has traded between ₹3,228 and ₹4,484.5.
Does TVS Motor Company Ltd pay dividends?
TVS Motor Company Ltd has a dividend yield of 0.29%.
What is the Return on Equity (ROE) of TVS Motor Company Ltd?
TVS Motor Company Ltd reported a return on equity of 29.74%. Its debt-to-equity ratio is 3.43.

Company Information

TVS Motor Company Ltd (TVSM) is engaged in manufacturing two-wheelers and its accessories; it currently manufactures a wide range of two-wheelers and three-wheelers. [1]

Website tvsmotor.com
CEO Sir Ralf Dieter Speth Ph.D.
Employees 6,522
Listed 2000-08-02
Face Value ₹ 1
Issued Size 2,37,54,35,570

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