TVS Motor Company Financial Statements
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ConsolidatedStandalone
| Y/e 31 Mar | Mar-2020 | Mar-2018 | Mar-2017 | Mar-2016 |
|---|---|---|---|---|
| Growth matrix (%) | ||||
| Revenue growth | 15.70 | 30.70 | 9.54 | 10.90 |
| Op profit growth | 51.90 | 72.30 | 6.45 | 34.80 |
| EBIT growth | 39.50 | 76.80 | 11.20 | 44 |
| Net profit growth | (4.30) | 27.60 | 19.10 | 30.70 |
| Profitability ratios (%) | ||||
| OPM | 12.10 | 9.19 | 6.97 | 7.17 |
| EBIT margin | 9.38 | 7.78 | 5.76 | 5.67 |
| Net profit margin | 3.31 | 4 | 4.10 | 3.77 |
| RoCE | 14 | 18.20 | 20.60 | 22.30 |
| RoNW | 5.24 | 6.67 | 6.34 | 6.83 |
| RoA | 1.23 | 2.34 | 3.67 | 3.71 |
| Per share ratios () | ||||
| EPS | 13.60 | 14 | 10.20 | 8.28 |
| Dividend per share | 3.50 | 3.30 | 2.50 | 2.50 |
| Cash EPS | 1.44 | 5.87 | 4.09 | 3.51 |
| Book value per share | 69.10 | 56.40 | 46.60 | 38.30 |
| Valuation ratios | ||||
| P/E | 21.80 | 44.10 | 42.30 | 39 |
| P/CEPS | 206 | 105 | 105 | 91.80 |
| P/B | 4.30 | 10.90 | 9.25 | 8.43 |
| EV/EBIDTA | 10.50 | 22 | 21 | 18 |
| Payout (%) | ||||
| Dividend payout | 32.10 | 28.90 | 28 | 48.60 |
| Tax payout | (24) | (29) | (23) | (26) |
| Liquidity ratios | ||||
| Debtor days | 24.40 | 19.90 | 17.50 | 14.50 |
| Inventory days | 21.70 | 24.80 | 29.90 | 30.50 |
| Creditor days | (65) | (58) | (57) | (55) |
| Leverage ratios | ||||
| Interest coverage | (2.10) | (3.80) | (12) | (9.20) |
| Net debt / equity | 3.12 | 2.52 | 0.57 | 0.57 |
| Net debt / op. profit | 4.51 | 4.51 | 1.45 | 1.27 |
| Cost breakup () | ||||
| Material costs | (65) | (69) | (72) | (71) |
| Employee costs | (8.20) | (7.10) | (6.60) | (6.40) |
| Other costs | (14) | (14) | (15) | (16) |
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ConsolidatedStandalone
| Y/e 31 Mar( In .Cr) | Mar-2020 | Mar-2018 | Mar-2017 | Mar-2016 |
|---|---|---|---|---|
| Revenue | 18,849 | 16,295 | 12,463 | 11,377 |
| yoy growth (%) | 15.70 | 30.70 | 9.54 | 10.90 |
| Raw materials | (12,317) | (11,292) | (8,936) | (8,027) |
| As % of sales | 65.30 | 69.30 | 71.70 | 70.60 |
| Employee costs | (1,539) | (1,150) | (828) | (731) |
| As % of sales | 8.17 | 7.06 | 6.64 | 6.43 |
| Other costs | (2,720) | (2,356) | (1,829) | (1,803) |
| As % of sales | 14.40 | 14.50 | 14.70 | 15.80 |
| Operating profit | 2,273 | 1,497 | 869 | 816 |
| OPM | 12.10 | 9.19 | 6.97 | 7.17 |
| Depreciation | (556) | (374) | (317) | (262) |
| Interest expense | (855) | (338) | (60) | (70) |
| Other income | 51.80 | 145 | 165 | 91.40 |
| Profit before tax | 914 | 930 | 658 | 575 |
| Taxes | (219) | (266) | (149) | (151) |
| Tax rate | (24) | (29) | (23) | (26) |
| Minorities and other | (22) | (12) | 1.95 | 0.51 |
| Adj. profit | 674 | 652 | 511 | 424 |
| Exceptional items | (40) | -- | -- | -- |
| Net profit | 625 | 652 | 511 | 429 |
| yoy growth (%) | (4.30) | 27.60 | 19.10 | 30.70 |
| NPM | 3.31 | 4 | 4.10 | 3.77 |
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Tabular DataGraph
| Y/e 31 Mar ( In .Cr) | Mar-2020 | Mar-2018 | Mar-2017 | Mar-2016 |
|---|---|---|---|---|
| Profit before tax | 914 | 930 | 658 | 575 |
| Depreciation | (556) | (374) | (317) | (262) |
| Tax paid | (219) | (266) | (149) | (151) |
| Working capital | 5,644 | 2,925 | (60) | (26) |
| Other operating items | -- | -- | -- | -- |
| Operating cashflow | 5,784 | 3,216 | 133 | 136 |
| Capital expenditure | 4,613 | 2,787 | 1,491 | 973 |
| Free cash flow | 10,398 | 6,003 | 1,623 | 1,108 |
| Equity raised | 3,411 | 2,809 | 2,627 | 2,629 |
| Investments | 150 | 103 | 807 | 504 |
| Debt financing/disposal | 11,057 | 6,671 | 1,085 | 1,096 |
| Dividends paid | 166 | 157 | 119 | 173 |
| Other items | -- | -- | -- | -- |
| Net in cash | 25,183 | 15,742 | 6,262 | 5,511 |
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ConsolidatedStandalone
| Y/e 31 Mar ( In .Cr) | Mar-2020 | Mar-2019 | Mar-2018 | Mar-2017 |
|---|---|---|---|---|
| Equity capital | 47.50 | 47.50 | 47.50 | 47.50 |
| Preference capital | -- | -- | -- | -- |
| Reserves | 3,235 | 3,123 | 2,630 | 2,169 |
| Net worth | 3,282 | 3,170 | 2,677 | 2,216 |
| Minority interest | ||||
| Debt | 11,350 | 9,298 | 6,928 | 1,311 |
| Deferred tax liabilities (net) | 260 | 333 | 312 | 283 |
| Total liabilities | 15,213 | 13,047 | 10,098 | 3,819 |
| Fixed assets | 4,817 | 4,111 | 3,407 | 2,426 |
| Intangible assets | ||||
| Investments | 371 | 440 | 421 | 1,155 |
| Deferred tax asset (net) | 173 | 236 | 258 | 154 |
| Net working capital | 8,745 | 8,054 | 5,839 | 32 |
| Inventories | 1,188 | 1,292 | 1,056 | 1,162 |
| Inventory Days | 23 | -- | 23.70 | 34 |
| Sundry debtors | 1,454 | 1,546 | 1,071 | 702 |
| Debtor days | 28.20 | -- | 24 | 20.60 |
| Other current assets | 10,342 | 9,102 | 7,062 | 632 |
| Sundry creditors | (3,210) | (3,216) | (2,699) | (1,982) |
| Creditor days | 62.20 | -- | 60.50 | 58 |
| Other current liabilities | (1,030) | (670) | (651) | (482) |
| Cash | 1,108 | 206 | 173 | 51.30 |
| Total assets | 15,213 | 13,047 | 10,098 | 3,819 |
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ConsolidatedStandalone
| Particulars ( Rupees In Crores.) | Dec-2020 | Sep-2020 | Jun-2020 | Mar-2020 | Dec-2019 |
|---|---|---|---|---|---|
| Gross Sales | 6,095 | 5,254 | 1,940 | 4,105 | 4,766 |
| Excise Duty | -- | -- | -- | -- | -- |
| Net Sales | 6,095 | 5,254 | 1,940 | 4,105 | 4,766 |
| Other Operating Income | -- | -- | -- | -- | -- |
| Other Income | 16.70 | 15.20 | 6.70 | 24 | 13.30 |
| Total Income | 6,112 | 5,270 | 1,946 | 4,129 | 4,779 |
| Total Expenditure ** | 5,348 | 4,625 | 1,869 | 3,626 | 4,230 |
| PBIDT | 764 | 644 | 77.40 | 503 | 549 |
| Interest | 221 | 239 | 213 | 232 | 214 |
| PBDT | 543 | 406 | (135) | 271 | 334 |
| Depreciation | 150 | 150 | 105 | 157 | 133 |
| Minority Interest Before NP | -- | -- | -- | -- | -- |
| Tax | 111 | 70.10 | (50) | 62.50 | 57 |
| Deferred Tax | (7.20) | 3.87 | (7.90) | (30) | (13) |
| Reported Profit After Tax | 290 | 181 | (183) | 81.90 | 157 |
| Minority Interest After NP | 6.04 | 1.48 | (3.40) | 7.81 | 6.23 |
| Net Profit after Minority Interest | 284 | 180 | (179) | 74 | 151 |
| Extra-ordinary Items | (1.30) | (1) | -- | (18) | (55) |
| Adjusted Profit After Extra-ordinary item | 285 | 181 | (179) | 92.40 | 205 |
| EPS (Unit Curr.) | 5.97 | 3.79 | (3.80) | 1.56 | 3.17 |
| Book Value (Unit Curr.) | -- | -- | -- | -- | -- |
| Dividend (%) | 210 | -- | -- | 140 | 210 |
| Equity | 47.50 | 47.50 | 47.50 | 47.50 | 47.50 |
| Public Shareholding (Number) | -- | -- | -- | -- | -- |
| Public Shareholding (%) | -- | -- | -- | -- | -- |
| Pledged/Encumbered - No. of Shares | -- | -- | -- | -- | -- |
| Pledged/Encumbered - % in Total Promoters Holding | -- | -- | -- | -- | -- |
| Pledged/Encumbered - % in Total Equity | -- | -- | -- | -- | -- |
| Non Encumbered - No. of Shares | -- | -- | -- | -- | -- |
| Non Encumbered - % in Total Promoters Holding | -- | -- | -- | -- | -- |
| Non Encumbered - % in Total Equity | -- | -- | -- | -- | -- |
| PBIDTM(%) | 12.50 | 12.30 | 3.99 | 12.30 | 11.50 |
| PBDTM(%) | 8.91 | 7.72 | (7) | 6.61 | 7.02 |
| PATM(%) | 4.75 | 3.45 | (9.40) | 1.99 | 3.29 |
