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TVS MOTORS Announces Quarterly Results (4QFY19); Net Profit Down 19.2%

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TVS MOTORS Announces Quarterly Results (4QFY19); Net Profit Down 19.2%
Thu, 2 May

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

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m39,92846,64043,840-6.0%9.8%
Other incomeRs m240736450.8%-85.1%
TurnoverRs m40,16846,64643,876-5.9%9.2%
ExpensesRs m37,12142,88340,759-5.0%9.8%
Gross profitRs m2,8073,7573,081-18.0%9.8%
DepreciationRs m9441,0121,0311.8%9.3%
InterestRs m18316724747.9%35.3%
Profit before taxRs m1,9212,5851,839-28.8%-4.2%
TaxRs m264801501-37.4%89.5%
Profit after taxRs m1,6561,7841,338-25.0%-19.2%
Gross profit margin%7.08.17.0
Effective tax rate%13.831.027.2
Net profit margin%4.13.83.1
* 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 9.8% on a year-on-year (YoY) basis. The expenses were up by 9.8% YoY during the same period.
  • The company's operating profit increased by 9.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.0% in 4QFY19.
  • Depreciation charges increased by 9.3% and finance costs increased by 35.3% YoY, respectively.
  • Other income declined by 85.1% YoY during the quarter.
  • Net profit for the quarter declined by 19.2% YoY. Net profit margins during the quarter declined from 4.1% in 4QFY18 to 3.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.0% QoQ during the same period.
  • The company's operating profit declined by 18.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 4QFY19 as against 8.1% in 3QFY18.
  • Net profit for the quarter declined by 25.0% QoQ, while net profit margins declined from 3.8% in 3QFY18 to 3.1% in 4QFY19.

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 637.6 to Rs 479.3, registering a Loss of Rs 158.3 or around 24.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,765.1 (down 0.4%). Over the last one year it has moved down from 25,553.2 to 18,765.1, a gain of 6,788 points (down 26.6%).

Overall, the S&P BSE SENSEX is up 10.9% over the year.

Current Valuations

At the current price of Rs 479.3, the price to earnings (P/E) ratio of TVS MOTORS stands at 34.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.5 times.

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TVS MOTORS share price has plunged by 5% and its current market price is Rs 450. The BSE AUTO is down by 1.2%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.0%) and M&M (up 0.1%). The top losers is TVS MOTORS (down 5.1%)..

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For the quarter ended September 2018, TVS MOTORS has posted a net profit of Rs 2 bn (down 0.9% YoY). Sales on the other hand came in at Rs 50 bn (up 23.2% YoY). Read on for a complete analysis of TVS MOTORS's quarterly results.

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Jun 24, 2019 03:03 PM

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