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Swing Capital

TVS Motor Company Ltd

NSE: TVSMOTOR BSE: 532343

TVS Motor Company Ltd (TVSM) is engaged in manufacturing two-wheelers and its accessories; it currently manufactures a wide range of two-wheelers and three-wheelers. [1]

₹3,289
52W: ₹2655 — ₹3970
PE 42.8 · Book ₹236 · +1294% vs book
Market Cap₹1,56,249 Cr
Stock P/E42.8Price to Earnings
ROCE38.2%Return on Capital
ROE34.4%Return on Equity
Div. Yield0.36%Face Value ₹1

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 42.8% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 31.6%

Weaknesses

  • −Stock is trading at 14.3 times its book value

Shareholding Pattern

Promoters50.27%
FIIs22.56%
DIIs18.84%
Public8.3%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%
FIIs21.05%22.33%▲1.321.2%▼1.121.48%▲0.322.42%▲0.922.9%▲0.523.09%▲0.222.56%▼0.5
DIIs20.13%19.02%▼1.119.99%▲1.019.73%▼0.318.8%▼0.918.34%▼0.518.28%▼0.118.84%▲0.6
Public8.56%8.33%▼0.28.45%▲0.18.45%8.4%▼0.08.46%▲0.18.33%▼0.18.3%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales8,2458,1698,3769,2289,0979,55010,08111,90512,47612,808
Expenses7,3217,2437,4158,1488,0168,2208,81810,39710,84311,128
Operating Profit9249269601,0801,0811,3311,2631,5091,6331,679
OPM %11%11%11%12%12%14%13%13%13%13%
Net Profit593485577663618761779906938998
EPS ₹12.4910.2212.1513.9513.0216.0116.3919.0719.7521

AI Insights

Revenue Trend

Mar 2026 revenue at ₹47,270Cr, up 30.4% YoY. OPM at 13%.

Debt Position

Borrowings at ₹3,733Cr. Debt-to-equity ratio: 0.33x. Healthy balance sheet.

Capex Cycle

CWIP at ₹586Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.84% (-4.57pp change). FIIs: 22.56% (+4.43pp change). Promoters hold 50.27%.

Margin & Efficiency

ROCE improving from 21% (Mar 2015) to 38% (Mar 2026). Working capital days: -53.

Valuation

PE 42.8x with 38.2% ROCE. Price is 1294% above book value of ₹236. Dividend yield: 0.36%.

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