TVS MOTORS Announces Quarterly Results (2QFY20); Net Profit Up 20.7%

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TVS MOTORS Announces Quarterly Results (2QFY20); Net Profit Up 20.7%
Fri, 18 Oct

TVS MOTORS has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m49,93544,68643,478-2.7%-12.9%
Other incomeRs m71249308.3%562.2%
TurnoverRs m49,94244,69843,527-2.6%-12.8%
ExpensesRs m45,65341,12839,659-3.6%-13.1%
Gross profitRs m4,2823,5584,58028.7%7.0%
DepreciationRs m1,0161,1941,2413.9%22.1%
InterestRs m212291285-2.2%34.6%
Profit before taxRs m3,0622,0853,10348.8%1.4%
TaxRs m949662553-16.4%-41.7%
Profit after taxRs m2,1131,4232,55079.2%20.7%
Gross profit margin%8.68.010.5
Effective tax rate%31.031.817.8
Net profit margin%4.23.25.9
* 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 fell 12.9% on a year-on-year (YoY) basis. The expenses were down by 13.1% YoY during the same period.
  • The company's operating profit increased by 7.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.5% in 2QFY20 as against 8.6% in 2QFY19.
  • Depreciation charges increased by 22.1% and finance costs increased by 34.6% YoY, respectively.
  • Other income increased by 562.2% YoY during the quarter.
  • Net profit for the quarter increased by 20.7% YoY. Net profit margins during the quarter increased from 4.2% in 2QFY19 to 5.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.6% QoQ during the same period.
  • The company's operating profit increased by 28.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.5% in 2QFY20 as against 8.0% in 1QFY19.
  • Net profit for the quarter increased by 79.2% QoQ, while net profit margins increased from 3.2% in 1QFY19 to 5.9% in 2QFY20.

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

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TVS MOTORS Share Price Performance

Over the last one year,TVS MOTORS share price has moved down from Rs 534.8 to Rs 452.5, registering a Loss of Rs 82.4 or around 15.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,806.1 (up 0.5%). Over the last one year it has moved down from 19,853.6 to 17,806.1, a gain of 2,048 points (down 10.3%).

Overall, the S&P BSE SENSEX is up 12.8% over the year.

Current Valuations

At the current price of Rs 452.5, the price to earnings (P/E) ratio of TVS MOTORS stands at 30.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.8 times.

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