On July 28, TVS Motor Company recorded a consolidated profit of 305.37 crore for the quarter ended June (Q1FY23), compared to a loss 10.55 crore for the same period last year. Its operating revenue grew 56 percent year-on-year to 7,315.70 crore from 4,689.34 crore in Q1FY22. Compared to Q1 net profit of FY22 of 53 crore, TVS Motor Company recorded a standalone net profit of 321 crore in the first quarter of FY23. Unlike Rs. 3,934 Crores reported in the quarter ended June 2021, TVS Motor Company recorded operating revenues of Rs. 6,009 crores for the quarter ended June 2022

According to a regulatory filing by TVS Motors, the company reported an EBITDA of Rs. 599 crores in the first quarter of 2022-23 as opposed to Rs. 274 crores in Q1 2021-22 and the EBITDA margin for the quarter was 10% compared to the EBITDA margin of 7% recorded in Q1 2021-22. The company declared a standalone profit before tax (PBT) of Rs. 432 crores in the first quarter of 2022-23 as opposed to Rs. 102 crores in the first quarter of 2021-22, according to a regulatory report. The company recorded a standalone profit after tax (PAT) of Rs. 321 crores for the current quarter as opposed to Rs. 53 crores in Q1 2021-22, up 506% y / y.

TVS Motors said in its regulatory filing that “Overall sales of one- and three-wheeled vehicles, including registered export sales of 9.07 Lakh units in the quarter ended June 2022, compared to 6.58 Lakh units recorded in the quarter. motorcycle sales recorded 4.34 Lakh units for the quarter ended June 2022 compared to 4.05 Lakh units for the quarter ended June 2021. Scooter sales for the quarter ended June 2022 are 3.06 Lakh units compared to sales 1.38 Lakh units in the first quarter of 2021-22. The company recorded the highest two-wheeler exports this quarter, registering 2.96 Lakh units compared to 2.90 Lakh units for the quarter ended June 2021. Three-wheeler sales in the quarter under review are 0.46 Lakh units compared to 0.39 units Lakh Q1 2021 22. Electric scooter sales recorded 0.09 lakh units for the quarter ended June 2022 compared to 0.01 lakh units for the quarter ended June 2021. “

The company also informed BSE, saying that “The board has approved the issue of non-convertible debt (NCD) aggregating to Rs. 125 crores [Rupees One Hundred and Twenty Five Crores Only] on a private placement basis. The Board of Directors has approved the sale of the shares of Sundaram Holding USA Inc., (SHUI), a significant subsidiary of Sundaram Auto Components Limited (SACL), a wholly-owned subsidiary of Sundaram, thereby resulting in the disposal of a significant subsidiary subject to shareholders’ approval by vote by post, in accordance with the requirements of art. 24 sec. 5 of the Trading Regulations. “

Ms Mansi Lall, Research Associate at Prabhudas Lilladher, said: “TVS maintained a double-digit EBITDA margin of 10%. The results were supported by a renewed product portfolio and export dynamics. We believe that the introduction of new products also contributes to the increase in volume. TVS is also gaining export market share along with the Indian market. We are positive about the space for premium bikes and scooters. “

Mr. Mitul Shah, Research Director at Reliance Securities, said: “We expect the domestic TVSL volume to grow in double-digit growth in fiscal 23E. We expect a healthy> 20% CAGR for exports in 21-FY24E due to good sales in most export markets and the company’s market share gains in several exporting countries. Due to the likely improvement in sales in rural areas, strong product basket, improved brand value, healthy export potential, better margin trajectory, good volumes in the next 2 years and better return rate, we keep BUYING on TVSL with TP 921 rupees ”.

TVS Motors shares closed today at 867.60 apiece, an increase of 2.09% from the previous close. From the beginning of the year, in 2022, shares increased by 37.88%, and during the last year they gained 54.42%.

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