TVS MOTORS Announces Quarterly Results (2QFY22); Net Profit Up 26.4%

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TVS MOTORS Announces Quarterly Results (2QFY22); Net Profit Up 26.4%
Tue, 26 Oct

TVS MOTORS has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m52,54446,89364,83438.3%23.4%
Other incomeRs m1522778188.5%-49.0%
TurnoverRs m52,69646,92064,91238.3%23.2%
ExpensesRs m46,20942,74357,43634.4%24.3%
Gross profitRs m6,3203,7837,38895.3%16.9%
DepreciationRs m1,5041,6381,82311.3%21.2%
InterestRs m2,3872,2102,2260.7%-6.7%
Profit before taxRs m2,582-383,41732.3%
TaxRs m7401141,089859.0%47.1%
Profit after taxRs m1,842-1522,32826.4%
Gross profit margin%12.08.111.4
Effective tax rate%28.7-296.331.9
Net profit margin%3.5-0.33.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 23.4% on a year-on-year (YoY) basis. The expenses were up by 24.3% YoY during the same period.
  • The company's operating profit increased by 16.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.4% in 2QFY22 as against 12.0% in 2QFY21.
  • Depreciation charges increased by 21.2% and finance costs declined by 6.7% YoY, respectively.
  • Other income declined by 49.0% YoY during the quarter.
  • Net profit for the quarter increased by 26.4% YoY. Net profit margins during the quarter increased from 3.5% in 2QFY21 to 3.6% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 38.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 34.4% QoQ during the same period.
  • The company's operating profit increased by 95.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.4% in 2QFY22 as against 8.1% in 1QFY21.
  • Net profit for the quarter increased by 1633.7% QoQ, while net profit margins increased from -0.3% in 1QFY21 to 3.6% in 2QFY22.

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 up from Rs 429.0 to Rs 621.4, registering a Gain of Rs 192.4 or around 44.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 25,578.1 (up 1.8%). Over the last one year it has moved up from 17,666.9 to 25,578.1, a gain of 7,911 points (up 44.8%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 621.4, the price to earnings (P/E) ratio of TVS MOTORS stands at 35.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.7 times.

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