The share price of motorcycle manufacturers hit its 52-week high of 1.6 percent of Rs1,712.10 per share after announcing the company entered the European market.
According to the filing of TVS Motor, the company has entered the European market with the partnership of Emil Frey, a leading automotive distributor. The partnership with Emil Frey Group, entities by distributing TVS products in European countries. TVS Motor Company will introduce its high-performance and technologically advanced two-wheelers to European customers.
According to the TVS Motor report, the company’s net revenue increased 16 percent year on year from Rs 8,560.76 crores in Q2FY23 to Rs 9,932.82 crores in Q2FY24. In addition, net profit rose 11 percent year on year, from Rs 373.4 crores in Q2FY23 to Rs 416 crores in Q2FY24.
TVS Motor is a large-cap company with a market capitalization of Rs 80,011 crores. It also has a return on equity (ROE) of 26 percent and a return on capital employed (ROCE) of 14 percent
The majority stake in TVS Motor is held by promoters at 50.27 percent, followed by foreign institutional investors at 18.5 percent, domestic institutional investors at 23.11, and the remaining portion belonging to the public
The share price of TVS Motors Company has climbed by 58.4 percent year-to-date and by 35.7 percent over the past six months.
TVS Motor Company’s products are already sold in over 80 countries across Asia, Africa, and Latin America, with exports accounting for nearly 25% of the company’s business. This global presence and strong track record of delivering high-quality, technologically advanced products position TVS Motor Company for continued success in the European market.
The Emil Frey Group, founded in Zurich, Switzerland, in 1924, is a family-owned automotive industry leader in Europe with almost a century of experience.
TVS Motor Company is a well-known two- and three-wheeler manufacturer in the world. With four cutting-edge manufacturing facilities spread across India and Indonesia, the company promotes progress through sustainable mobility.
Written by Sriram KV