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Swing Capital

TVS Srichakra Ltd

NSE: TVSSRICHAK BSE: 509243

TVSSC belongs to the TVS group of companies. The company is a leading manufacturer of 2W tyres in India and caters to both OEMs and aftermarket segments, and also manufactures OHT for the domestic and export markets. The company has two manufacturing plants, one each in Madurai in Tamil Nadu and Rudrapur in Uttarakhand.[1]

₹3,535
52W: ₹2761 — ₹4788
PE 44.6 · Book ₹1546 · +129% vs book
Market Cap₹2,708 Cr
Stock P/E44.6Price to Earnings
ROCE5.77%Return on Capital
ROE3.94%Return on Equity
Div. Yield0.48%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 35.0%

Weaknesses

  • −The company has delivered a poor sales growth of 8.05% over past five years.
  • −Company has a low return on equity of 7.08% over last 3 years.

Shareholding Pattern

Promoters45.7%
FIIs0.97%
DIIs6.17%
Public47.16%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters45.7%45.7%45.7%45.7%45.7%45.7%45.7%45.7%
FIIs1%1.05%▲0.11.03%▼0.01.06%▲0.00.99%▼0.10.99%0.97%▼0.00.97%
DIIs5.02%4.95%▼0.14.95%4.95%4.95%5.05%▲0.16.17%▲1.16.17%
Public48.27%48.3%▲0.048.32%▲0.048.28%▼0.048.36%▲0.148.23%▼0.147.17%▼1.147.16%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales704677703739785747752762865850
Expenses618614628684723704691713800775
Operating Profit86647655624361496575
OPM %12%9%11%7%8%6%8%6%8%9%
Net Profit3722261118-311181614
EPS ₹48.3529.0633.4714.7123.76-4.0213.8323.6620.6518.49

AI Insights

Revenue Trend

TTM revenue at ₹3,229Cr, up 6.8% YoY. OPM at 8%.

Debt Position

Borrowings at ₹731Cr. Debt-to-equity ratio: 0.62x. Moderate leverage.

Capex Cycle

CWIP at ₹66Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 6.17% (+5.68pp change). FIIs: 0.97% (-0.04pp change). Promoters hold 45.7%.

Margin & Efficiency

ROCE declining from 22% (Mar 2014) to 6% (Mar 2025). Working capital days: -14.

Valuation

PE 44.6x with 5.77% ROCE. Price is 129% above book value of ₹1,546. Dividend yield: 0.48%.

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