Share price of a two and three-wheeler manufacturer globally jumped by 5.7 percent on BSE to hit an intraday high at Rs. 2,121.3 in the trading session of Thursday, after reporting Q4 results with a rise in net profit by 35.8 percent YoY and revenue from operations by 22.4 percent YoY.
With a market capitalisation of Rs. 99,032 crore, at 01:50 p.m., the shares of TVS Motor Company Limited were trading in the green at Rs. 2,082.85, up by 3.82 percent.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Wednesday post-market hours.
The consolidated revenue from operations increased by 22.4 percent YoY from Rs. 31,974 crore in FY22-23 to Rs. 39,144.7 crore in FY23-24, but fell marginally by 0.7 percent QoQ from Rs. 10,114 crore in Q3 FY23-24 to Rs. 10,042.5 crore in Q4 FY23-24.
TVS Motors witnessed a rise in the net profit by 35.8 percent YoY from Rs. 1,309.5 crore in FY22-23 to Rs. 1,778.54 crore in FY23-24, while on a quarter-on-quarter basis, PAT decreased by nearly 19.2 percent from Rs. 509.61 crore in Q3 FY23-24 to Rs. 411.53 crore in Q4 FY23-24.
The company posted the highest ever operating EBITDA of Rs. 926 crores for Q4 FY23-24 with a growth of 36 percent as against Rs. 680 crores in Q4 FY23-24, while the operating EBITDA margin improved by 100bps at 11.3 percent in Q4 FY23-24 as against 10.3 percent during Q4 FY22-23.
The overall two-wheeler and three-wheeler sales including exports grew by 22% at 10.63 Lakh units in the quarter ended March 2024 as against 8.68 Lakh units registered in the quarter ended March 2023.
Motorcycle sales for Q4 FY23-24 grew by 32 percent registering 5.11 lakh units as against 3.89 lakh units in Q2 FY22-23, while Scooter sales grew by 16 percent registering 3.96 lakh units as against 3.40 lakh units, during the same period.
Electric vehicles grew by 15 percent registering sales of 0.49 Lakh units in Q4 FY23-24 as against 0.43 Lakh units during Q4 FY22-23, and three-wheeler sales for the quarter under review grew by 4 percent registering 0.30 Lakh units as against 0.29 Lakh units in Q4 FY22-23.
As of March 2024, FIIs hold 20.83 percent of the shares, whereas DIIs hold 20.26 percent of the shares in the company, aggregating to 41.09 percent of the institutional holdings.
TVS Motor Company Limited is a two and three-wheeler manufacturer globally, with four state-of-the-art manufacturing facilities located in India and Indonesia. The company has manufacturing plants located at Hosur in Tamil Nadu, Mysuru in Karnataka and Nalagarh in Himachal Pradesh.
Written by Shivani Singh
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