TVS Motor Company Ltd

In the fourth quarter, TVS Motor made significant strides in enhancing margins and profitability, prompting several brokerages to raise their target prices on the stock. However, some concerns linger, particularly around the demand outlook and the increasing competition in the electric two-wheeler space. According to a domestic brokerage, the company's EBITDA fell slightly short of expectations due to lower-than-anticipated benefits from the Production Linked Incentive (PLI) scheme. Nonetheless, the firm noted that TVS remains well-positioned to benefit from PLI going forward and is likely to see market share gains in both domestic and international markets. The brokerage expects margin expansion driven by improved product mix, better scale, higher PLI incentives, and ongoing cost-efficiency measures. It has maintained a buy rating on the stock while raising its target price to Rs 3,200 from Rs 3,100 earlier. Another domestic broker believes the company's outperformance to positive sentiment, citing volume growth supported by the company's focus on premiumisation and new electric vehicle launches. It maintained a buy rating and increased the target price to Rs 3,150. However, the firm also flagged potential risks, including a possible industry slowdown that could weigh on future performance. In contrast, another brokerage took a more cautious stance, noting that TVS Motor underperformed the broader industry in the motorcycle segment during FY2025. It highlighted ongoing demand weakness in domestic markets post-festive season and uncertainties surrounding export demand. The brokerage reiterated a neutral rating with a target price of Rs 2,720. Overall, while TVS Motor's robust Q4 performance has been acknowledged, divergent views among brokerages reflect the challenges the company may face in sustaining momentum amid a dynamic competitive and economic environment. On the earnings front for Q4, TVS Motor reported 75.53% surge in standalone net profit to Rs 852.12 crore on 16.91% increase in revenue from operations to Rs 9,550.44 crore in Q4 FY25 over Q4 FY24. Profit before tax stood at Rs 1,111.98 crore in the fourth quarter of FY25, up 65.56% from Rs 671.63 crore posted in the same quarter last year. The company posted its highest-ever operating EBITDA of Rs 1,333 crore for Q4 FY25, compared to Rs 926 crore in Q4 FY24, marking a 43.95% increase. The operating EBITDA margin stood at 14% in Q4 FY25. The overall two-wheeler and three-wheeler sales, including exports, grew by 14% YoY registering 12.16 lakh units in the quarter ended March 2025. Motorcycle sales for the quarter ended March 2025 grew by 10% YoY registering 5.64 lakh units, while scooter sales grew by 27% YoY registering 5.02 lakh units during the fourth quarter of FY25. Three-wheeler sales for the quarter under review grew by 21% registering 0.37 lakh units as against 0.30 lakh units in the fourth quarter of 2023-24. Electric vehicle sales grew by 54%, registering of 0.76 lakh units in the quarter ended March 2025, compared to 0.49 lakh units sold in the same quarter of the previous year. On a full-year basis, the company's standalone net profit jumped 30.12% to Rs 2,710.54 crore on a 14.08% increase in revenue to Rs 36,251.32 crore in FY25 over FY24. TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement, have a leading position in the e-bike market in Switzerland. Powered by Capital Market - Live

Net profit of TVS Motor Company rose 67.49% to Rs 648.16 crore in the quarter ended March 2025 as against Rs 386.98 crore during the previous quarter ended March 2024. Sales rose 16.09% to Rs 11542.00 crore in the quarter ended March 2025 as against Rs 9942.48 crore during the previous quarter ended March 2024. For the full year,net profit rose 32.57% to Rs 2235.56 crore in the year ended March 2025 as against Rs 1686.37 crore during the previous year ended March 2024. Sales rose 13.69% to Rs 44089.01 crore in the year ended March 2025 as against Rs 38778.82 crore during the previous year ended March 2024. ParticularsQuarter EndedYear EndedMar. 2025Mar. 2024% Var.Mar. 2025Mar. 2024% Var. Sales11542.009942.48 16 44089.0138778.82 14 OPM %16.4914.63 -14.9114.01 - PBDT1284.68900.73 43 4550.913623.77 26 PBT992.88637.35 56 3505.352667.62 31 NP648.16386.98 67 2235.561686.37 33 Powered by Capital Market - Live

Profit before tax stood at Rs 1,111.98 crore in the fourth quarter of FY25, up 65.56% from Rs 671.63 crore posted in the same quarter last year. The company posted its highest-ever operating EBITDA of Rs 1,333 crore for Q4 FY25, compared to Rs 926 crore in Q4 FY24, marking a 43.95% increase. The operating EBITDA margin stood at 14% in Q4 FY25. The overall two-wheeler and three-wheeler sales, including exports, grew by 14% YoY registering 12.16 lakh units in the quarter ended March 2025. Motorcycle sales for the quarter ended March 2025 grew by 10% YoY registering 5.64 lakh units, while scooter sales grew by 27% YoY registering 5.02 lakh units during the fourth quarter of FY25. Three-wheeler sales for the quarter under review grew by 21% registering 0.37 lakh units as against 0.30 lakh units in the fourth quarter of 2023-24. Electric vehicle sales grew by 54%, registering of 0.76 lakh units in the quarter ended March 2025, compared to 0.49 lakh units sold in the same quarter of the previous year. On a full-year basis, the company's standalone net profit jumped 30.12% to Rs 2,710.54 crore on a 14.08% increase in revenue to Rs 36,251.32 crore in FY25 over FY24. TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement, have a leading position in the e-bike market in Switzerland. Powered by Capital Market - Live

TVS Motor Company will hold a meeting of the Board of Directors of the Company on 28 April 2025.Powered by Capital Market - Live

TVS Motor Company (TVSM) is set to strengthen its electric vehicle (EV) presence in Southeast Asia through the integration of ION Mobility's assets, intellectual property, and talent into its operations. Southeast Asia represents one of the world's fastest-growing regions for motorbike usage, offering a significant opportunity for expansion. TVSM has been a strategic investor in ION Mobility, a full-stack EV company known for its robust in-house capabilities across industrial and product design, mechanical and electrical engineering, embedded and power electronics, firmware, software, and supply chain solutions. This integration, combined with TVSM's deep expertise in electric mobility, marks a major step toward unlocking new possibilities in the region. Commenting on the development, Sharad Mohan Mishra, President Group Strategy, TVS Motor Company, said: 'We were an early strategic investor in ION Mobility, attracted by their focus on delivering smart, sustainable, and exciting mobility solutions for ASEAN markets. Our 'Reimagine 2030' vision strongly aligned with their mission. With the acquisition of ION Mobility's assets, IP and core team, we are thrilled to bring their entrepreneurial energy, design thinking and engineering strength into TVSM. Combined with our R&D depth, quality systems, and manufacturing scale, this partnership positions us to accelerate market penetration and grow our share across Southeast Asia.' Powered by Capital Market - Live

TVS Motor Company (TVSM) is celebrating two significant milestones for its premium motorcycle brand, TVS Apache - the brand's 20th anniversary and the trust it has garnered of over 6 million customers worldwide. Engineered with cutting-edge racing technology and inspired by TVS Racing's championship pedigree, TVS Apache has become one of the fastest-growing sports motorcycle brands across 60+ countries. For two decades, it has fuelled the adrenaline of the youth and of motorcycle enthusiasts, delivering the ultimate combination of power, precision and performance on the streets and the track. Expressing his gratitude on these milestones, Sudarshan Venu, Managing Director, TVS Motor Company said, We are immensely grateful to the 6 million+ passionate riders of TVS Apache for their unwavering trust and enthusiasm over the last 20 years. Their love for performance and adrenaline has propelled TVS Apache to become one of the fastest-growing sports motorcycle brands globally. This milestone belongs to every member of the TVSM family - our engineers, designers, factory teams, dealers, suppliers, and partners - who push the limits of innovation every day. TVS Apache's enduring success emanates from cutting-edge racing technology, precision engineering, and unmatched performance. It is a testament to our relentless commitment to empowering the new generation of young riders who live and breathe the thrill of motorcycling.'Powered by Capital Market - Live

TVS Motor Company announced that during the financial year 2024-25, the company registered a growth of 13% with total sales increasing from 41.91 Lakh units in FY 2023-24 to 47.44 Lakh units. Two-wheeler sales of the company registered a growth of 12% with sales increasing from 38.51 Lakh units in FY 2023-24 to 43.30 Lakh units in FY 2024-25. Three-wheeler of the company registered 1.35 Lakh units in FY 2024-25 as against 1.46 Lakh units in FY 2023-24. Total exports registered a growth of 18% with sales increasing from 10.13 Lakh units in FY 2023-24 to 11.95 Lakh units in FY 2024-25. Powered by Capital Market - Live

TVS Motor Company announced that during the fourth quarter of the financial year 2024-25, two-wheeler of the company registered a growth of 14% with sales increasing from 10.32 Lakh units in the fourth quarter of financial year 2023-24 to 11.80 Lakh units. Three-wheeler of the company registered a growth of 21% with sales increasing from 0.30 Lakh units in the fourth quarter of financial year 2023-24 to 0.37 Lakh units in the fourth quarter of the financial year 2024-25. Total exports registered a growth of 31% with sales increasing from 2.60 Lakh units in the last quarter of FY 2023-24 to 3.40 Lakh units in the fourth quarter of the financial year 2024-25. Powered by Capital Market - Live

TVS Motor Company registered a growth of 17% with sales increasing from 354,592 units in March 2024 to 414,687 units in March 2025. Total two-wheelers registered a growth of 16% with sales increasing from 344,446 units in March 2024 to 400,120 units in March 2025. Domestic two-wheeler registered growth of 14% with sales increasing from 260,532 units in March 2024 to 297,622 units in March 2025. Motorcycle registered a growth of 15% with sales increasing from 171,611 units in March 2024 to 196,734 units in March 2025. Scooter registered a growth of 27% with sales increasing from 131,472 units in March 2024 to 166,297 units in March 2025. The electric vehicles recorded a growth of 77% with sales increasing from 15,250 units in March 2024 to 26,935 units in March 2025. The Company's total exports registered a growth of 23% with sales increasing from 91,972 units in March 2024 to 113,464 units in March 2025. Two-wheeler exports registered a growth of 22% with sales increasing from 83,914 units in March 2024 to 102,498 units in March 2025. Three-wheeler of the Company registered a growth of 44% with sales increasing from 10,146 units in March 2024 to 14,567 units in March 2025.Powered by Capital Market - Live

Total two-wheelers registered a growth of 16%, with sales increasing from 400,120 units in March 2025 to 344,446 units in March 2024. Domestic two-wheeler sales stood at 297,622 units in March 2025, up 14% from 260,532 units sold in March 2024. Motorcycle sales were at 196,734 units in March 2025, registering a growth of 15% compared with Rs 171,611 units in March 2024. Scooter registered a growth of 27%, with sales increasing from 166,297 units in March 2025 to 131,472 units in March 2024. Electric vehicle (EV) sales surged by 34% YoY, with the number of units sold increasing to 26,935 in March 2025 from 15,250 in March 2024. The company's total exports registered a growth of 23%, with sales increasing from 113,464 units in March 2025 to 91,972 units in March 2024. The company's two-wheeler exports registered sales of 14,567 units in March 2025, up 44% YoY. TVS Motor Company is a reputed two- and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru, and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement, have a leading position in the e-bike market in Switzerland. The company's standalone net profit rose 4.24% to Rs 618.48 crore on 10.33% increase in revenue from operations to Rs 9,097.05 crore in Q3 FY25 over Q3 FY24. Powered by Capital Market - Live