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TVS Electronics Ltd

TVSELECT
NSE
461.70
1.60%
Last Updated:
30 Apr '26, 4:00 PM
Company Overview
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TVS Electronics Ltd

TVSELECT
NSE
461.70
1.60%
30 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
861Cr
Close
Close Price
461.70
Industry
Industry
Computer - Hardware
PE
Price To Earnings
PS
Price To Sales
1.90
Revenue
Revenue
452Cr
Rev Gr TTM
Revenue Growth TTM
9.53%
PAT Gr TTM
PAT Growth TTM
-18.80%
Peer Comparison
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TVSELECT
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
859092879711110510011597128114
Growth YoY
Revenue Growth YoY%
-3.64.1-1.2-1.913.923.913.515.018.0-13.121.913.6
Expenses
ExpensesCr
82878886941081029711295123107
Operating Profit
Operating ProfitCr
334133333157
OPM
OPM%
3.72.84.20.62.72.82.53.02.31.33.75.8
Other Income
Other IncomeCr
00111111012-1
Interest Expense
Interest ExpenseCr
001011111222
Depreciation
DepreciationCr
123334344544
PBT
PBTCr
201-20-1-1-1-3-410
Tax
TaxCr
100-1-1000-2-100
PAT
PATCr
201-21-1-1-1-1-420
Growth YoY
PAT Growth YoY%
-66.4-91.6-60.1-225.2-62.3-493.8-217.962.6-200.0-181.8217.4163.1
NPM
NPM%
1.80.41.2-2.00.6-1.1-1.3-0.7-0.5-3.71.20.4
EPS
EPS
0.80.20.6-0.90.3-0.7-0.7-0.3-0.3-1.90.80.2

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
2705932,5194,1072,757259225308353366430452
Growth
Revenue Growth%
119.8324.563.0-32.9-90.6-13.237.114.83.517.65.1
Expenses
ExpensesCr
2545772,5054,0832,739248216282334357419437
Operating Profit
Operating ProfitCr
16161424181192620101115
OPM
OPM%
5.92.70.60.60.74.23.88.65.62.62.73.4
Other Income
Other IncomeCr
133245222333
Interest Expense
Interest ExpenseCr
763102211256
Depreciation
DepreciationCr
7964410867111517
PBT
PBTCr
3592414012113-1-6-5
Tax
TaxCr
112870063-1-3-3
PAT
PATCr
2461670115100-4-2
Growth
PAT Growth%
88.246.8156.6-54.2-94.897.41,861.0-37.0-97.2-1,503.743.0
NPM
NPM%
0.80.70.30.40.30.10.34.92.70.1-0.9-0.5
EPS
EPS
1.32.43.48.74.00.20.48.15.10.1-2.0-1.2

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
181919191919191919191919
Reserves
ReservesCr
202549656862637483807473
Current Liabilities
Current LiabilitiesCr
99103311949749083106109130151169
Non Current Liabilities
Non Current LiabilitiesCr
61153485410161716
Total Liabilities
Total LiabilitiesCr
1421573831,036165178170203221244261276
Current Assets
Current AssetsCr
6886302967100109107147154178179194
Non Current Assets
Non Current AssetsCr
747282696569635667668281
Total Assets
Total AssetsCr
1421573831,036165178170203221244261276

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
10272040-6-63426-8146
Investing Cash Flow
Investing Cash FlowCr
-4-3-10-1617-19-206-4013
Financing Cash Flow
Financing Cash FlowCr
-8-20-12-21-7-1-21-4119-18
Net Cash Flow
Net Cash FlowCr
-14719-2911-62-1-71
Free Cash Flow
Free Cash FlowCr
6211844-11-103123-24-14-3
CFO To PAT
CFO To PAT%
441.1634.4321.0243.4-80.5-1,512.84,394.8173.7-87.65,163.0-148.6
CFO To EBITDA
CFO To EBITDA%
63.8169.9141.1161.7-33.0-54.1395.899.4-42.2146.649.1

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
6319031863135899240477619468598
Price To Earnings
Price To Earnings
27.444.150.238.848.1252.9313.431.665.11,791.10.0
Price To Sales
Price To Sales
0.20.30.10.10.10.41.11.61.81.31.4
Price To Book
Price To Book
1.74.44.77.54.11.22.95.26.14.76.4
EV To EBITDA
EV To EBITDA
7.013.622.624.419.310.227.818.031.453.055.4
Profitability Ratios
Profitability Ratios
GPM
GPM%
35.420.44.63.24.952.050.650.447.448.349.5
OPM
OPM%
5.92.70.60.60.74.23.88.65.62.62.7
NPM
NPM%
0.80.70.30.40.30.10.34.92.70.1-0.9
ROCE
ROCE%
11.514.312.929.816.82.23.221.512.30.9-0.7
ROE
ROE%
6.19.99.319.48.60.50.916.39.30.3-4.1
ROA
ROA%
1.62.71.61.64.50.20.57.54.30.1-1.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** TVS Electronics Limited (TVS-E), established in 1986 under the TVS Group, is a Chennai-headquartered Indian technology company with over 35 years of experience in electronics manufacturing, product development, and comprehensive customer support services. The company positions itself as a **single-point, end-to-end solutions provider**, integrating **Electronics Manufacturing Services (EMS)** with **Product Development** and **Customer Support Services (CSS)** across industrial, retail, banking, government, and logistics sectors. TVS-E operates through two core business verticals: - **Products & Solutions Group (PSG)** – contributing approximately 70% of revenue. - **Customer Support Services (CSS)** – accounting for the remaining 30%. The company is strategically aligned with India’s **‘Make in India’ mission**, emphasizing **domestic design, localized manufacturing**, and **backward integration** to reduce import dependency and strengthen its position as a Class 1 supplier to government and enterprise clients. --- ### **Core Business Segments** #### **1. Products & Solutions Group (PSG)** The PSG segment focuses on **transaction automation and track-and-trace technologies**, serving key industries such as **Retail, BFSI, Government, Logistics, Defence, and DISComs**. Its offerings include: - **Point-of-Transaction (PTx):** - Touch POS systems, electronic cash registers (ECRs), payment devices, and transaction keyboards. - **Market leadership in thermal receipt printers** and **touch POS systems**, ranked **#3 in barcode scanners and label printers**. - Proprietary **TVS E-Pay billing software** – an entry-level SaaS solution for SMEs with features like instant billing, inventory tracking, and sales analytics. - **Track-and-Trace (T&T):** - Barcode scanners (1D/2D), handheld mobile computers, label printers, and RFID-enabled tracking devices for logistics and manufacturing. - Focus on rugged, industrial-grade devices for high-volume operational environments (retail, logistics, healthcare). - **Banking & Government Solutions:** - High-speed passbook printers, cash counting machines, demand draft printers, and ledger printing solutions. - Government services include **ticketing, registration, and receipt printing for India Post**. - **Shipping & Logistics:** - Integrated solutions for labeling, real-time tracking, and inventory management using AIDC (Automatic Identification and Data Capture) technologies. - **Personal & Productivity (P&P) and Security & Surveillance (S&S):** - Mechanical keyboards, gaming peripherals, webcams, and CCTV surveillance systems with AI-powered video analytics. The PSG has diversified through **strategic acquisitions and partnerships**, including: - Acquisition of **GTID Solutions** to enter **mobile POS software and authentication**. - Investment in **RoyalPOS (Swiftomatics)** to offer **SaaS-based retail digitization platforms**, now integrated with TVS hardware. - Collaborations with leading retail software providers to offer **customized POS ecosystems**. --- #### **2. Customer Support Services (CSS)** TVS-E is a **trusted lifecycle partner for over 25 global OEMs**, offering end-to-end **after-sales support and infrastructure management**. The CSS vertical operates across six key categories: 1. **Field Support Services (FSS):** - Installation, break/fix, and maintenance for IT peripherals, banking POS terminals (EDC), and consumer electronics (laptops, smart TVs, refrigerators). - Serves OEMs like **Dell, HP, and major banks**, covering **>15,000 pin codes**. 2. **Infrastructure Management Services (IMS):** - End-to-end IT support including service desks, endpoint computing, data centers, cloud, network, and **cybersecurity**, powered by a **Cognitive AIOps platform**. - Offers IT managed services to SMEs and large enterprises, with contracts averaging **3 years**. 3. **Solar & Green Energy Services:** - **Operations & Maintenance (O&M)** for over **1,000 MWp** of solar capacity across India. - Consultancy for **287 MWp+ solar projects** (e.g., 76 MWp and 211 MWp in Karnataka). - Provides **EV charging infrastructure** and **battery swapping solutions**, positioning for growth in e-mobility. 4. **Electronics Manufacturing Services (EMS):** - Full-cycle EMS from **design to end-of-life**, including **PCB assembly, box build, testing, and supply chain management**. 5. **Repair & Refurbishing Management Services (RMS):** - Advanced **Level 3/4 component-level repair** of PCBAs, display panels, and payment sound boxes. - Refurbishment services for secondary market sales, supporting circular economy. 6. **E-Auction & E-Waste Management:** - **Auction India**, a digital B2B platform, enables transparent online bidding for **surplus inventory, scrap, machinery, and e-waste**. - Services help businesses maximize asset recovery and ensure regulatory compliance. --- ### **Manufacturing & Technology Capabilities** #### **Tumakuru Facility – A Center of Excellence** - Located **70 km from Bengaluru**, near KIAD Airport and national highways. - **70,000 sq. ft. ESD-compliant factory** with **automated SMT lines**, IoT-enabled **Manufacturing Execution System (MES)**, and **clean room repair facility (1,500 sq. ft.)**. - Features **SKD (Semi-Knocked-Down) and CKD (Completely-Knocked-Down)** assembly models to support **Make in India** and serve technology partners through **contract manufacturing**. - **Powered by a 400-kW solar plant**, advancing **sustainable, carbon-efficient manufacturing**. #### **Industry 4.0 & Digitalization** - Implements **AI/ML, IoT, 5G, edge computing, and digital twins** for smart production. - Uses **Automated Optical Inspection (AOI)**, **predictive maintenance**, **robotics**, and **pick-and-place machines** for quality and efficiency. - **End-to-end traceability** from raw materials to delivery. --- ### **R&D and Innovation** - **R&D Center in Yeshwantpur, Bengaluru**, serving as a **hub for innovation and customer experience**. - Focus on **value engineering**, **scalable design**, and **customer-centric product development**. - Strong investment in **AI/ML, cloud platforms, and IoT-integrated solutions**. - Collaborations with **IIT Madras Research Park** and India’s **startup ecosystem** to co-develop future-ready products. --- ### **Go-to-Market Strategy & Distribution Network** - **Hybrid Distribution Model:** Combines **traditional distributors**, **AIDC partner channels**, and **direct-to-consumer (D2C)** outreach. - **D2C Focus:** Targeting **top 100 national retail accounts** with bundled hardware-software solutions and **e-commerce platforms**. - **National Connectivity:** - Covers **19,500+ pin codes** and **>90% of Indian districts**. - Network includes: - **540+ authorized service partners** - **4,000+ sales partners** - **345+ walk-in service centers** - **13 warehouses, 7 branch offices** - **150+ seater multilingual call center** - Supports **650+ districts (expanding to 670 in FY25–26)**, up from 540 in 2023. --- ### **Sustainability & Strategic Initiatives** - **Circular Economy:** Refurbishment, e-waste management, and reuse of components. - **Green Energy:** Consultancy and O&M for solar projects; expanding into **EV charging infrastructure**. - **Parts & Logistics Business:** - Acts as a **spare parts aggregator** for global OEMs, bridging the gap between expensive OEM parts and low-quality local alternatives. - Launch of **Assure**, a **B2C on-demand service platform** for installations, repairs, and upgrades. - **Software Transformation:** - Transitioned in-house **digital platform to SaaS model** for scalability. - AI/ML-powered **CRM and Service Delivery Platform (SDP)** integrates brands, service partners, logistics, and spare parts.