TVS MOTORS Announces Quarterly Results (2QFY19); Net Profit Down 0.9%

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TVS MOTORS Announces Quarterly Results (2QFY19); Net Profit Down 0.9%
Fri, 9 Nov

TVS MOTORS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m40,52441,53749,93520.2%23.2%
Other incomeRs m4561737-95.7%-98.4%
TurnoverRs m40,98041,71049,94219.7%21.9%
ExpensesRs m37,02138,47245,65318.7%23.3%
Gross profitRs m3,5033,0654,28239.7%22.2%
DepreciationRs m8369331,0168.8%21.5%
InterestRs m15518021217.4%36.7%
Profit before taxRs m2,9682,1243,06244.1%3.2%
TaxRs m83665894944.1%13.4%
Profit after taxRs m2,1321,4662,11344.1%-0.9%
Gross profit margin%8.67.48.6
Effective tax rate%28.231.031.0
Net profit margin%5.23.54.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 23.2% on a year-on-year (YoY) basis. The expenses were up by 23.3% YoY during the same period.
  • The company's operating profit increased by 22.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 8.6% in 2QFY19.
  • Depreciation charges increased by 21.5% and finance costs increased by 36.7% YoY, respectively.
  • Other income declined by 98.4% YoY during the quarter.
  • Net profit for the quarter declined by 0.9% YoY. Net profit margins during the quarter declined from 5.2% in 2QFY18 to 4.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 20.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.7% QoQ during the same period.
  • The company's operating profit increased by 39.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.6% in 2QFY19 as against 7.4% in 1QFY18.
  • Net profit for the quarter increased by 44.1% QoQ, while net profit margins increased from 3.5% in 1QFY18 to 4.2% in 2QFY19.

To see how TVS MOTORS has performed over the last eight quarters, please visit here.

TVS MOTORS Share Price Performance

Over the last one year, TVS MOTORS share price has moved up from Rs 694.5 to Rs 555.6, registering a Loss of Rs 138.9 or around 20.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 20,853.4 (up 0.6%). Over the last one year it has moved down from 25,090.5 to 20,853.4, a gain of 4,237 points (down 16.9%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 555.6, the price to earnings (P/E) ratio of TVS MOTORS stands at 38.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.9 times.

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