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TVS Motor Company Ltd.
TVSMOTORLarge CapNSEBSE
Automobile · Automobile and Auto Components
₹4,273.60down 136.20down 3.09 percentas of 28 Aug 2026
Book value ₹199.89Div yield 0.28%
Key metrics
- Market Cap
- 2,05,237.63 ₹ cr
- P/E
- 67.75 x
- P/B
- 21.38 x
- ROE
- 24.46%
- ROCE
- 34.32%
- Debt to Equity
- 0.15 x
- Net Margin
- 6.76%
- Dividend Yield
- 0.28%
- Revenue Growth (YoY)
- 33.46%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE above 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue grew year-on-year in each of the last 3 years.
- Net margin grew year-on-year in each of the last 3 years.
- Promoter holding 50.3% (pledge data not available).
- Debt-to-equity 0.15 — below the Automobile and Auto Components median of 0.36.
TVSMOTOR
₹4,273.60down 3.09 percent
EOD Synced: 28 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatHigh ROCE Compounder
29.01%ROCE
ROE: 31.56%·P/B: 21.38x
2. Forensic Health & SolvencyPiotroski 6/9 · Adequate Health
6/9Piotroski Score
Altman: 1.5 (Grey Zone)
3. Valuation & DCF Spread-60.8% Valuation Premium
₹1,676DCF Fair Value
CMP: ₹4,273.6
4. Ownership & GovernanceClean Promoter Holding
50.27%Promoter Stake
Pledged: 0.0%·Inst: 36.74%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #3 of 31 in AutomobileQVGM 61/100
Quality (Q)81
ROE, ROCE, Margins & Cash Conversion
Value (V)14
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)74
3Y Sales & EPS Compounded Growth
Momentum (M)74
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #3 of 31 in Automobile
Valuation
Weak14/100
P/E Ratio:67.75x
P/B Ratio:21.38x
Dividend Yield:0.28%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Strong74/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Strong81/100
ROE:31.6%
ROCE:29.0%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Moderate67/100
Piotroski F-Score:6/9
Altman Z-Score:1.54
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Strong74/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹3,283.40
From 52W High-4.31%
52-Week High₹4,466.20
Valuation MultiplesCash Flow & Yield
PEG Ratio2.07
Earnings Yield7.73%
Price / FCF3,714.04
FCF Yield0.03%
Payout Ratio3.63%
Net-Net Ratio-1.24
Solvency & SafetyPiotroski & Altman
Piotroski F-Score6/9
Altman Z-Score1.54
Graham Number₹1,218.76
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▼ 2.11%
DII Stake:▲ +1.84%
OPM Margin:▼ 0.31%
Net Margin:▲ +0.31%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▲ +8.26% | ▲ +33.46% | 27.17% | 20.59% | 23.62% |
| Net Profit Growth | ▲ +32.13% | ▲ +67.11% | 35.01% | 31.46% | 38.41% |
| EPS Growth | ▲ +32.14% | ▲ +67.13% | 42.32% | 32.80% | 38.22% |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — TVSMOTOR
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹1,804.6
Verdict:Overvalued (-57.8%)
Benjamin Graham Number
₹538.2
-87.4% vs CMPPeter Lynch Fair Value
₹319.8
-92.5% vs CMPReverse DCF Implied Growth
37.0% CAGR
Aggressive Expectations (Priced for Perfection)Valuation Spectrum PositioningCMP: ₹4,273.6
₹0 (Distress)CMP: ₹4,274DCF: ₹1,805Graham: ₹538
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR14.5%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 14.5% | ₹5,841 | 0.8969 | ₹5,239 |
| Year 2 | 14.5% | ₹6,688 | 0.8044 | ₹5,380 |
| Year 3 | 14.5% | ₹7,658 | 0.7214 | ₹5,525 |
| Year 4 | 14.5% | ₹8,769 | 0.6470 | ₹5,673 |
| Year 5 | 14.5% | ₹10,040 | 0.5803 | ₹5,826 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹1929 -55% | ₹2273 -47% | ₹2492 -42% | ₹2754 -36% | ₹3476 -19% |
| 11.0% | ₹1597 -63% | ₹1845 -57% | ₹1998 -53% | ₹2177 -49% | ₹2641 -38% |
| 11.5% | ₹1460 -66% | ₹1674 -61% | ₹1805 -58% | ₹1955 -54% | ₹2337 -45% |
| 12.0% | ₹1338 -69% | ₹1525 -64% | ₹1637 -62% | ₹1765 -59% | ₹2085 -51% |
| 13.0% | ₹1132 -74% | ₹1276 -70% | ₹1361 -68% | ₹1456 -66% | ₹1688 -61% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E67.75current
ReportedComputed, approximate
P/B21.38current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 67.75 | 21.38 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Buy(2.16 / 5)
Strong Buy:11
Buy:16
Hold:5
Sell:3
Strong Sell:2
Coverage: 37 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Balanced risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:32.06%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: -1.35%
Mean Target₹4,216.00vs CMP ₹4,273.60
High Target₹5,425.00+26.9% max upside
Low Target₹2,470.00-42.2% downside
Median Target₹4,270.0037 estimates
Low: ₹2,470.00Mean: ₹4,216.00High: ₹5,425.00
Mean Target Current Price (₹4,273.60)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
₹9.14
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹8.15
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹10.08
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹8.13
Low:—
High:—
FY2025EConsensus
Mean Estimate
₹9.70
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹13.64
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹11.80
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹11.91
Low:—
High:—
FY2026E2 Analysts
Mean Estimate
₹16.74
Low:—
High:—
FY2026E4 Analysts
Mean Estimate
₹16.24
Low:—
High:—
FY2026E3 Analysts
Mean Estimate
₹18.76
Low:—
High:—
FY2026E3 Analysts
Mean Estimate
₹12.84
Low:—
High:—
FY2027E2 Analysts
Mean Estimate
₹26.16
Low:₹25.00
High:₹26.00
FY2027E1 Analysts
Mean Estimate
₹21.46
Low:—
High:—
FY2027E2 Analysts
Mean Estimate
₹25.99
Low:₹25.00
High:₹26.00
FY2027E2 Analysts
Mean Estimate
₹26.45
Low:₹26.00
High:₹26.00
FY2028E1 Analysts
Mean Estimate
₹29.88
Low:₹29.00
High:₹29.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | ₹9.14 | — | — | — |
| FY2024 Forecast | ₹8.15 | — | — | — |
| FY2024 Forecast | ₹10.08 | — | — | — |
| FY2024 Forecast | ₹8.13 | — | — | — |
| FY2025 Forecast | ₹9.70 | — | — | — |
| FY2025 Forecast | ₹13.64 | — | — | 2 |
| FY2025 Forecast | ₹11.80 | — | — | 2 |
| FY2025 Forecast | ₹11.91 | — | — | 2 |
| FY2026 Forecast | ₹16.74 | — | — | 2 |
| FY2026 Forecast | ₹16.24 | — | — | 4 |
| FY2026 Forecast | ₹18.76 | — | — | 3 |
| FY2026 Forecast | ₹12.84 | — | — | 3 |
| FY2027 Forecast | ₹26.16 | ₹26.00 | ₹25.00 | 2 |
| FY2027 Forecast | ₹21.46 | — | — | 1 |
| FY2027 Forecast | ₹25.99 | ₹26.00 | ₹25.00 | 2 |
| FY2027 Forecast | ₹26.45 | ₹26.00 | ₹26.00 | 2 |
| FY2028 Forecast | ₹29.88 | ₹29.00 | ₹29.00 | 1 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
90-Day Earnings Revision Drift & Consensus Trajectory
Strong UpgradesTracking consensus forward EPS and revenue estimate drift across 34 institutional brokerages covering TVS Motor Company Ltd. (TVSMOTOR).
Consensus Target Price
₹1,720.00+18.60%
CMP: ₹1,450.00Brokerage Ratings Split
26 Buy/6 Hold/2 Sell
34 Analysts TrackingLast 30-Day Upgrades
+8 Upgrades
Upward EPS RevisionsLast 30-Day Downgrades
1 Downgrades
Estimate Cuts| Period | Current Consensus EPS | 30 Days Ago | 60 Days Ago | 90 Days Ago | 90D Revision Drift | Consensus Rev (Cr) | Target Price |
|---|---|---|---|---|---|---|---|
| Q2 FY26 | ₹16.40 | ₹16.10 | ₹15.80 | ₹15.20 | ▲ +7.89% | ₹41,200 Cr | ₹1,680.00 |
| Q3 FY26 | ₹17.20 | ₹16.80 | ₹16.30 | ₹15.90 | ▲ +8.18% | ₹42,800 Cr | ₹1,710.00 |
| FY26E | ₹68.50 | ₹66.80 | ₹64.90 | ₹63.20 | ▲ +8.39% | ₹1,68,500 Cr | ₹1,720.00 |
| FY27E | ₹79.40 | ₹77.20 | ₹75.00 | ₹73.10 | ▲ +8.62% | ₹1,91,200 Cr | ₹1,950.00 |
Institutional Alpha Context:Academic research shows that companies experiencing consecutive positive earnings estimate revisions (trailing 90-day consensus EPS change > +5%) exhibit significant post-earnings announcement drift (PEAD) and forward price momentum.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
5 Factors- •Company has delivered a high Return on Equity (ROE) of 31.6%.
- •Company has demonstrated healthy revenue growth of 20.6% CAGR over 3 years.
- •Net profit has grown at an impressive 31.5% CAGR over 3 years.
- •High promoter holding of 50.3% with zero encumbrance / pledge.
- •High institutional backing: FIIs & DIIs hold a combined 36.7%.
Risk Factors & Watchouts
2 Watchouts- •Company has elevated financial leverage with Debt-to-Equity of 3.43x.
- •Stock is trading at an elevated valuation multiple of 67.8x P/E.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score6 / 9
● Moderate (Neutral)
Altman Z-Score1.54
● Grey Zone
Moderate risk; company exhibits average leverage and liquidity.
Beneish M-Score-2.25
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
-45.3%Low Cash Conversion
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
-2.4%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
173.3%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹3,018 CrInflow
3,018
+ D&A Non-Cash Charge₹1,273 CrAdd-back
1,273
Working Capital Adjustment-₹2,424 Cr- Tied Up
2,424
= Operating Cash Flow (CFO)₹1,867 CrOperating Cash
1,867
- Capital Expenditures (CapEx)-₹3,235 CrReinvestment
3,235
= Free Cash Flow (FCF)-₹1,368 CrFree Cash Flow
1,368
- Dividends & Debt Repayment-₹664 CrCapital Return
664
= Net Change in Cash-₹2,032 CrNet Balance
2,032
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2014-201531 Mar 2015 | 2015-201631 Mar 2016 | 2016-201731 Mar 2017 | 2017-201831 Mar 2018 | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | ₹28,034.76 | ₹18,849.31 | ₹19,420.82 | ₹24,355.31 | ₹31,973.99 | ₹38,778.82 | ₹44,089.01 | ₹56,069.52 |
| Operating profit | — | — | — | — | ₹5,606.95 | ₹1,676.72 | ₹1,698.53 | ₹1,973.40 | ₹3,252.21 | ₹4,619.19 | ₹5,711.97 | ₹7,088.65 |
| OPM | — | — | — | — | 20.00% | 8.90% | 8.75% | 8.10% | 10.17% | 11.91% | 12.96% | 12.64% |
| Net profit | — | — | — | — | ₹1,509.17 | ₹635.84 | ₹594.26 | ₹756.82 | ₹1,328.67 | ₹1,686.37 | ₹2,235.56 | ₹3,018.33 |
| EPS | — | — | — | — | 31.63 | 13.04 | 12.68 | 16.47 | 27.31 | 33.69 | 44.94 | 63.96 |
| Net margin | — | — | — | — | 5.38% | 3.37% | 3.06% | 3.11% | 4.16% | 4.35% | 5.07% | 5.38% |
| ROE | — | — | — | — | 8.90% | 19.37% | 15.53% | 17.20% | 24.14% | 24.86% | 26.29% | 31.56% |
| ROCE | 21.00% | 22.00% | 22.00% | 19.00% | 24.91% | 17.96% | 15.32% | 14.93% | 20.31% | 21.85% | 23.07% | 29.01% |
| Debt / equity | — | — | — | — | 0.33 | 3.53 | 3.18 | 3.60 | 4.06 | 3.83 | 3.36 | 3.43 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Revenue | 27.17% | 20.59% | 23.62% | — |
| Net profit | 35.01% | 31.46% | 38.41% | — |
| EPS | 42.32% | 32.80% | 38.22% | — |
Each column only appears when 12 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | — | — | — | ₹30,838.24 | ₹19,358.82 | ₹21,992.69 | ₹27,126.66 | ₹35,232.91 | ₹42,220.46 | ₹47,936.91 | ₹56,500.62 |
| Total liabilities | — | — | — | — | ₹13,877.21 | ₹16,076.72 | ₹18,166.08 | ₹22,727.21 | ₹29,727.91 | ₹35,436.95 | ₹39,433.53 | ₹46,936.37 |
| Total equity | — | — | — | — | ₹16,961.03 | ₹3,282.10 | ₹3,826.61 | ₹4,399.45 | ₹5,505.00 | ₹6,783.51 | ₹8,503.38 | ₹9,564.25 |
| Total debt | — | — | — | — | ₹5,550.88 | ₹11,591.45 | ₹12,179.16 | ₹15,827.21 | ₹22,375.58 | ₹26,005.70 | ₹28,608.71 | ₹32,791.01 |
| Cash | — | — | — | — | ₹3,700.59 | ₹829.41 | ₹871.15 | — | — | ₹2,105.80 | ₹4,079.37 | ₹3,909.77 |
| Current assets | — | — | — | — | ₹13,877.21 | ₹9,739.00 | ₹10,536.84 | ₹12,887.63 | ₹17,007.23 | ₹21,520.01 | ₹25,984.25 | ₹31,469.43 |
| Current liabilities | — | — | — | — | ₹7,709.56 | ₹10,025.24 | ₹10,908.71 | ₹13,906.30 | ₹19,218.70 | ₹21,078.21 | ₹23,173.54 | ₹32,067.68 |
| Inventory | — | — | — | — | ₹2,803.48 | ₹1,188.47 | ₹1,367.43 | ₹1,642.36 | ₹1,921.51 | ₹2,248.40 | ₹2,416.58 | ₹2,459.20 |
| Receivables | — | — | — | — | ₹3,364.17 | ₹1,454.36 | ₹1,038.00 | ₹1,179.90 | ₹1,232.20 | ₹1,816.48 | ₹1,684.45 | ₹2,636.27 |
| Payables | — | — | — | — | ₹2,523.13 | ₹3,186.84 | ₹4,298.60 | ₹4,663.13 | ₹5,096.67 | ₹6,638.22 | ₹7,561.26 | ₹9,834.28 |
| Net PP&E | — | — | — | — | ₹12,335.29 | ₹4,148.82 | ₹4,240.49 | ₹4,698.16 | ₹4,493.21 | ₹4,632.13 | ₹6,152.52 | ₹7,023.64 |
| Retained earnings | — | — | — | — | ₹12,720.77 | ₹3,234.59 | ₹3,779.10 | ₹4,351.94 | ₹5,457.49 | ₹6,736.00 | ₹8,455.87 | ₹9,516.74 |
Cash flow
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | — | ₹1,886.46 | ₹373.43 | ₹1,151.29 | ₹-1,575.19 | ₹-4,404.83 | ₹-1,252.67 | ₹3,502.92 | ₹1,866.59 |
| Capital expenditure | — | — | — | — | ₹1,682.09 | ₹-1,013.98 | ₹-927.98 | ₹-969.83 | ₹-1,340.77 | ₹-1,145.17 | ₹-2,478.06 | ₹-3,235.08 |
| Free cash flow | — | — | — | — | ₹204.37 | ₹-640.55 | ₹223.31 | ₹-2,545.02 | ₹-5,745.60 | ₹-2,397.84 | ₹1,024.86 | ₹-1,368.49 |
| OCF / net profit | — | — | — | — | 1.25 | 0.59 | 1.94 | -2.08 | -3.32 | -0.74 | 1.57 | 0.62 |
| FCF / Capex intensity | — | — | — | — | 0.06 | 5.38 | 4.78 | 3.98 | 4.19 | 2.95 | 5.62 | 5.77 |
Income statement detail
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | — | — | — | — | ₹9,812.17 | ₹6,532.54 | ₹6,349.13 | ₹7,911.51 | ₹10,937.84 | ₹14,348.82 | ₹17,190.60 | ₹20,984.15 |
| Cost of revenue | — | — | — | — | ₹18,222.59 | ₹12,316.77 | ₹13,071.69 | ₹16,443.80 | ₹21,036.15 | ₹24,430.00 | ₹26,898.41 | ₹35,085.37 |
| EBITDA | — | — | — | — | ₹6,167.65 | ₹2,232.72 | ₹2,263.35 | ₹2,716.26 | ₹4,111.07 | ₹5,575.34 | ₹6,757.53 | ₹8,361.29 |
| Income before tax | — | — | — | — | ₹2,007.19 | ₹865.42 | ₹821.63 | ₹1,066.79 | ₹1,936.03 | ₹2,667.62 | ₹3,505.35 | ₹4,821.74 |
| Interest expense | — | — | — | — | ₹1,401.74 | ₹863.13 | ₹705.46 | ₹869.61 | ₹1,323.97 | ₹1,960.88 | ₹2,223.34 | ₹2,323.58 |
| Tax expense | — | — | — | — | ₹498.02 | ₹218.62 | ₹214.13 | ₹335.91 | ₹626.57 | ₹914.04 | ₹1,155.45 | ₹1,635.31 |
| D&A | — | — | — | — | ₹1,121.39 | ₹556.00 | ₹564.82 | ₹742.86 | ₹858.86 | ₹956.15 | ₹1,045.56 | ₹1,272.64 |
| EBITDA margin | — | — | — | — | 22.00% | 11.85% | 11.65% | 11.15% | 12.86% | 14.38% | 15.33% | 14.91% |
Financial ratios
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | 1.80 | 0.97 | 0.97 | 0.93 | 0.88 | 1.02 | 1.12 | 0.98 |
| Quick ratio | — | — | — | — | 1.44 | 0.85 | 0.84 | 0.81 | 0.79 | 0.91 | 1.02 | 0.90 |
| Interest coverage | — | — | — | — | 4.00 | 1.94 | 2.41 | 2.27 | 2.46 | 2.36 | 2.57 | 3.05 |
| Inventory days | 51.00 | 40.00 | 47.00 | 34.00 | 45.00 | 35.22 | 38.18 | 36.46 | 33.34 | 33.59 | 32.79 | 25.58 |
| Receivable days | 15.00 | 16.00 | 21.00 | 24.00 | 35.00 | 28.16 | 19.51 | 17.68 | 14.07 | 17.10 | 13.95 | 17.16 |
| Payable days | 76.00 | 74.00 | 80.00 | 86.00 | 40.00 | 94.44 | 120.03 | 103.51 | 88.43 | 99.18 | 102.60 | 102.31 |
| Cash conversion cycle | -11.00 | -18.00 | -12.00 | -28.00 | 40.00 | -31.06 | -62.34 | -49.37 | -41.03 | -48.49 | -55.87 | -59.56 |
| Working capital days | -11.00 | -20.00 | -24.00 | -37.00 | -1.00 | -27.00 | -38.00 | -40.00 | -49.00 | -20.00 | -17.00 | -37.00 |
| Fixed asset turnover | — | — | — | — | 2.27 | 4.54 | 4.58 | 5.18 | 7.12 | 8.37 | 7.17 | 7.98 |
| ROA | — | — | — | — | 4.89% | 3.28% | 2.70% | 2.79% | 3.77% | 3.99% | 4.66% | 5.34% |
| ROIC | — | — | — | — | 8.02% | 8.92% | 8.30% | — | — | 9.90% | 11.59% | 12.18% |
| Gross margin | — | — | — | — | 35.00% | 34.66% | 32.69% | 32.48% | 34.21% | 37.00% | 38.99% | 37.43% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
Leverage Driven (Elevated Debt Contribution)FY2025-2026
Net marginProfitability
5.38%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.99
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
5.91
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
31.56%
Reported: 31.56%
5-Year Peer DuPont ROE Factor Matrix
Deconstructing Return on Equity into Profitability (Net Margin) × Efficiency (Asset Turnover) × Leverage (Equity Multiplier)
Leverage-Fueled
Latest Implied ROEFY2025-2026
31.56%
+20.5% vs Sector Median
Primary ROE DriverQuality Grade
Leverage-Fueled
Elevated financial leverage (>3.0x); capital structure amplifies returns
Financial Leverage RiskAssets / Equity
5.91x
⚠️ High Leverage Risk (>3.0x)
5-Year Factor Trajectory & ReconciliationValues in INR • Audited Financial Statements
| Fiscal Period | Net Margin % | × | Asset Turnover | × | Equity Multiplier | = | Implied ROE | Reported ROE | Quality Driver |
|---|---|---|---|---|---|---|---|---|---|
| FY2025-2026Latest | 5.38% | × | 0.99 | × | 5.91x | = | 31.56% | 31.56% | Leverage-Fueled |
| FY2024-2025 | 5.07% | × | 0.92 | × | 5.64x | = | 26.29% | 26.29% | Leverage-Fueled |
| FY2023-2024 | 4.35% | × | 0.92 | × | 6.22x | = | 24.86% | 24.86% | Leverage-Fueled |
| FY2022-2023 | 4.16% | × | 0.91 | × | 6.40x | = | 24.14% | 24.14% | Leverage-Fueled |
| FY2021-2022 | 3.11% | × | 0.90 | × | 6.17x | = | 17.20% | 17.20% | Leverage-Fueled |
DuPont Factor Data reconciled from audited MCA / SEBI balance sheet and income filings.Deep 5-Stage DuPont ROE Breakdown
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
| Year | Execution Date | Action Type | Ratio / Term |
|---|---|---|---|
| 2026 | 31 Mar 2026 | dividend | 1200% |
| 2025 | 25 Aug 2025 | bonus | 4:1 |
| 26 Mar 2025 | dividend | 1000% | |
| 2024 | 19 Mar 2024 | dividend | 800% |
| 2023 | 02 Feb 2023 | dividend | 500% |
| 2022 | 28 Mar 2022 | dividend | 375% |
| 2021 | 02 Apr 2021 | dividend | 140% |
| 05 Feb 2021 | dividend | 210% | |
| 2020 | 18 Mar 2020 | dividend | 140% |
| 12 Feb 2020 | dividend | 210% | |
| 2019 | 19 Mar 2019 | dividend | 140% |
| 2018 | 31 Oct 2018 | dividend | 210% |
| 07 Mar 2018 | dividend | 130% | |
| 2017 | 09 Nov 2017 | dividend | 200% |
| 15 Mar 2017 | dividend | 125% | |
| 2016 | 05 Nov 2016 | dividend | 125% |
| 19 Mar 2016 | dividend | 150% | |
| 06 Feb 2016 | dividend | 100% | |
| 2015 | 06 May 2015 | dividend | 115% |
| 09 Feb 2015 | dividend | 75% | |
| 2014 | 05 May 2014 | dividend | 75% |
| 2013 | 31 Oct 2013 | dividend | 65% |
| 06 May 2013 | dividend | 60% | |
| 07 Feb 2013 | dividend | 60% | |
| 2012 | 05 Jun 2012 | dividend | 70% |
| 21 Mar 2012 | dividend | 60% | |
| 2011 | 04 Aug 2011 | dividend | 60% |
| 27 Jan 2011 | dividend | 50% | |
| 2010 | 09 Sept 2010 | bonus | 1:1 |
| 28 Jul 2010 | dividend | 50% | |
| 27 Jan 2010 | dividend | 70% | |
| 2009 | 02 Jul 2009 | dividend | 70% |
| 2008 | 08 Aug 2008 | dividend | 70% |
| 2007 | 14 Aug 2007 | dividend | 15% |
| 2006 | 30 Oct 2006 | dividend | 70% |
| 04 Jul 2006 | dividend | 60% |
Dividend Intelligence & Capital Return History
Historical cash payout track record across 7 dividend distributions
Latest Year DPS:₹12.00
Yield on CMP:0.28%
3Y Dividend CAGR:+33.9%
Annual Dividend Payout Progression (Per Share)Total Cumulative DPS: ₹42.25
₹12.0
2026
₹10.0
2025
₹8.0
2024
₹5.0
2023
₹3.8
2022
₹3.5
2021
| Ex-Date | Amount (Per Share) | Dividend Type |
|---|---|---|
| 30 Mar 2026 | ₹12.00 | Interim |
| 26 Mar 2025 | ₹10.00 | Interim |
| 19 Mar 2024 | ₹8.00 | Interim |
| 02 Feb 2023 | ₹5.00 | Interim |
| 25 Mar 2022 | ₹3.75 | Interim |
| 30 Mar 2021 | ₹1.40 | Interim |
| 04 Feb 2021 | ₹2.10 | Interim |
Sub-Industry Leaderboard & Peer Comparison
Sub-Industry Peer Leaderboard
Ranking 5 listed peers for TVS Motor Company Ltd. by key profitability and valuation metrics. Click a column header to re-sort. Colour coding: top third / middle / bottom third.
| # | Company | ROCE % | 3Y Rev CAGR | OPM % | P/E | Mkt Cap |
|---|---|---|---|---|---|---|
| 1 | Bajaj Auto Ltd.BAJAJ-AUTO | — | — | — | 35.4x | ₹6.63L Cr |
| 2 | Maruti Suzuki India Ltd.MARUTI | — | — | — | 28.8x | ₹4.21L Cr |
| 3 | Mahindra & Mahindra Ltd.M&M | — | — | — | — | ₹4.13L Cr |
| 4 | Eicher Motors Ltd.EICHERMOT | — | — | — | 40.1x | ₹2.19L Cr |
| 5 | Hyundai Motor India Ltd.HYUNDAI | — | — | — | 33.7x | ₹1.84L Cr |
Sub-industry classification uses a proprietary 3-tier taxonomy (Sector → Industry → Sub-Industry). Metrics are trailing twelve-month (TTM) or most recent available annual data. This leaderboard is for informational and comparative purposes only — not a buy or sell recommendation per SEBI guidelines.
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
Automobile and Auto ComponentsCompare Peers in Studio
Market Cap2,05,237.63 ₹ cr
Beats 91% of 47 industry peers · median 25,051.24 ₹ cr
P/E67.75 x
Beats 79% of 38 industry peers · median 38.95 x
P/B21.38 x
Beats 98% of 40 industry peers · median 5.96 x
ROE24.46%
Beats 89% of 47 industry peers · median 11.06%
ROCE34.32%
Beats 94% of 47 industry peers · median 13.81%
Debt to Equity0.15 x
Beats 15% of 47 industry peers · median 0.36 x
Net Margin6.76%
Beats 26% of 47 industry peers · median 8.80%
Dividend Yield0.28%
Beats 36% of 42 industry peers · median 0.48%
Revenue Growth (YoY)33.46%
Beats 81% of 47 industry peers · median 19.84%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
Bajaj Auto Ltd.BAJAJ-AUTO | ₹6.63 L | 35.40 | 5.89 |
Maruti Suzuki India Ltd.MARUTI | ₹4.21 L | 28.79 | 3.94 |
| ₹4.13 L | — | — | |
Eicher Motors Ltd.EICHERMOT | ₹2.19 L | 40.15 | 8.81 |
Hyundai Motor India Ltd.HYUNDAI | ₹1.84 L | 33.70 | 9.15 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Corporate Filings & Document Vault
SEBI LODR VerifiedAudited Annual Reports, Investor Decks, Earnings Concall Transcripts, and Board Resolutions for TVS Motor Company Ltd. (TVSMOTOR)
Indexed Documents5 Filings
Latest Disclosure27 Jul 2026
Investor Deck27 Jul 2026
TVS Motor Company Ltd: Investor Presentation on Q4 Financial Results and Growth Outlook
Concall Transcript21 Jun 2026
TVS Motor Company Ltd: Transcript of Earnings Conference Call with Institutional Investors
Secretarial Filing11 Jun 2026
TVS Motor Company Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
Board Outcome26 Apr 2026
TVS Motor Company Ltd: Outcome of Board Meeting for Approval of Audited Financial Results
News
- IndianAPIWho is Peyman Kargar? TVS Motor shuffles top role — All about the automaker's new CEO and Director
TVS Motor Company named Peyman Kargar as CEO and Director. Learn more about the automaker's new chief executive officer
- IndianAPIStock market today: Gift Nifty hints a weak start; eight day trading stocks to buy on Tuesday, 18 August
Sensex and Nifty 50 are set to open lower due to mixed global cues. Brent crude prices have risen amid US-Iran conflict tensions, raising concerns over energy supplies. Analysts suggest cautious trading with key levels for Nifty 50 and Bank Nifty indicating potential selling pressure.
- IndianAPIBuy or sell indicator: Gift Nifty signals flat start, Vaishali Parekh recommends three stocks to buy today
Buy or sell indicator: Vaishali Parekh recommends three stocks to buy today — Chennai Petroleum Corporation, Godrej Properties, and TVS Motor Company
- IndianAPIShares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 11 August 2026
On 11 August, Indian stocks may decline as global cues are mixed. Nifty 50 and Sensex closed flat previously, and market analysts suggest key trading ranges while recommending stocks like TVS Motor Company and Shriram Finance.
- IndianAPIShares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 11 August 2026
On 11 August, Indian stocks may decline as global cues are mixed. Nifty 50 and Sensex closed flat previously, and market analysts suggest key trading ranges while recommending stocks like TVS Motor Company and Shriram Finance.
- IndianAPITVS Motor may carve out financial services unit to strengthen and unlock shareholder value
Chairman Sudarshan Venu did not clarify the timeline for a possible demerger, which the company has publicly spoken about for the first time.
- IndianAPITVS Motor may carve out financial services unit to strengthen and unlock shareholder value
Chairman Sudarshan Venu did not clarify the timeline for a possible demerger, which the company has publicly spoken about for the first time.
- IndianAPIStocks to watch: Eternal, Nestle, Indian Hotels among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,108 mark, down over 72 points from the previous close of Nifty futures.
- IndianAPIStocks to watch: Eternal, Nestle, Indian Hotels among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,108 mark, down over 72 points from the previous close of Nifty futures.
- IndianAPITVS, Bajaj report record quarterly revenue, see demand momentum continuing
Both companies attributed their strong performance to sustained domestic demand following GST cuts and robust export growth, which helped offset higher fuel prices and logistics disruptions caused by the West Asia conflict.
- IndianAPITVS, Bajaj report record quarterly revenue, see demand momentum continuing
Both companies attributed their strong performance to sustained domestic demand following GST cuts and robust export growth, which helped offset higher fuel prices and logistics disruptions caused by the West Asia conflict.
- IndianAPITVS Motor Company Q1 results: Profit jumps 67% YoY; board approves ₹1,000 crore fundraising proposal
TVS Motor Company Q1 results: Profit jumped 67% YoY to ₹1,019.43 crore. Revenue from operations for Q1FY27 jumped 33.5% YoY to ₹16,295.52 crore. The board approved ₹1,000 crore fundraising proposal.
- IndianAPITVS Motor Company Q1 results: Profit jumps 67% YoY; board approves ₹1,000 crore fundraising proposal
TVS Motor Company Q1 results: Profit jumped 67% YoY to ₹1,019.43 crore. Revenue from operations for Q1FY27 jumped 33.5% YoY to ₹16,295.52 crore. The board approved ₹1,000 crore fundraising proposal.
- IndianAPIQ1 results 2026: Bajaj Auto to Adani Energy among companies to declare Q1 results today; full list here
Q1 results 2026: Bajaj Auto, Adani Energy Solutions, TVS Motor Company, Indian Hotels Company, JSW Infrastructure, Adani Total Gas, and Bandhan Bank are among the companies to declare their Q1 results FY27 today.
- IndianAPIQ1 results 2026: Bajaj Auto to Adani Energy among companies to declare Q1 results today; full list here
Q1 results 2026: Bajaj Auto, Adani Energy Solutions, TVS Motor Company, Indian Hotels Company, JSW Infrastructure, Adani Total Gas, and Bandhan Bank are among the companies to declare their Q1 results FY27 today.
- IndianAPIStocks to watch: Bajaj Auto, Adani Energy, Paytm among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,154 mark, down over 105 points from the previous close of Nifty futures.
- IndianAPIStocks to watch: Bajaj Auto, Adani Energy, Paytm among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,154 mark, down over 105 points from the previous close of Nifty futures.
- IndianAPIVijay Singh’s future on board of Sir Ratan Tata Trust in doubt as term nears end
A Maharashtra charity commissioner order currently prevents SRTT from holding board meetings or taking decisions affecting its composition, meaning a resolution forVijay Singh’s reappointment cannot be placed before the members
- IndianAPIVijay Singh’s future on board of Sir Ratan Tata Trust in doubt as term nears end
A Maharashtra charity commissioner order currently prevents SRTT from holding board meetings or taking decisions affecting its composition, meaning a resolution forVijay Singh’s reappointment cannot be placed before the members
- IndianAPIBreakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today - 29 June 2026
The Indian stock market ended Thursday's session on a higher note. Sumeet Bagadia of Choice Broking recommends five breakout stocks to buy today.
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.