TVS MOTORS Announces Quarterly Results (4QFY20); Net Profit Down 44.8%

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TVS MOTORS Announces Quarterly Results (4QFY20); Net Profit Down 44.8%
Mon, 1 Jun

TVS MOTORS has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m43,84041,25534,814-15.6%-20.6%
Other incomeRs m3692512721.3%601.4%
TurnoverRs m43,87641,26435,065-15.0%-20.1%
ExpensesRs m40,75937,62232,366-14.0%-20.6%
Gross profitRs m3,0812,8722,125-26.0%-31.0%
DepreciationRs m1,0311,2131,2432.5%20.6%
InterestRs m24721123511.0%-5.0%
Profit before taxRs m1,8391,457898-38.4%-51.2%
TaxRs m501247160-35.3%-68.1%
Profit after taxRs m1,3381,211739-39.0%-44.8%
Gross profit margin%7.07.06.1
Effective tax rate%27.216.917.8
Net profit margin%3.12.92.1
* 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 fell 20.6% on a year-on-year (YoY) basis. The expenses were down by 20.6% YoY during the same period.
  • The company's operating profit declined by 31.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.1% in 4QFY20 as against 7.0% in 4QFY19.
  • Depreciation charges increased by 20.6% and finance costs declined by 5.0% YoY, respectively.
  • Other income increased by 601.4% YoY during the quarter.
  • Net profit for the quarter declined by 44.8% YoY. Net profit margins during the quarter declined from 3.1% in 4QFY19 to 2.1% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.0% QoQ during the same period.
  • The company's operating profit declined by 26.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.1% in 4QFY20 as against 7.0% in 3QFY19.
  • Net profit for the quarter declined by 39.0% QoQ, while net profit margins declined from 2.9% in 3QFY19 to 2.1% in 4QFY20.

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 479.1 to Rs 352.9, registering a Loss of Rs 126.2 or around 26.3%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 14,469.6 (up 2.7%). Over the last one year it has moved down from 18,446.0 to 14,469.6, a loss of 3,976 points (down 21.6%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 352.9, the price to earnings (P/E) ratio of TVS MOTORS stands at 28.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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