| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,933 | 10,114 | 9,942 | 10,314 | 11,302 | 11,035 | 11,542 | 12,210 | 14,051 | 14,756 | 15,053 | 16,296 | |
Growth YoY Revenue Growth YoY% | 16.0 | 25.4 | 23.8 | 13.9 | 13.8 | 9.1 | 16.1 | 18.4 | 24.3 | 33.7 | 30.4 | 33.5 |
| 8,577 | 8,626 | 8,478 | 8,866 | 9,659 | 9,381 | 9,622 | 10,396 | 11,929 | 12,485 | 12,866 | 13,938 | |
| 1,356 | 1,488 | 1,464 | 1,449 | 1,642 | 1,654 | 1,920 | 1,814 | 2,122 | 2,270 | 2,187 | 2,357 | |
OPM OPM% | 13.7 | 14.7 | 14.7 | 14.1 | 14.5 | 15.0 | 16.6 | 14.9 | 15.1 | 15.4 | 14.5 | 14.5 |
| 40 | -1 | -53 | 23 | 13 | 44 | -84 | 29 | -26 | -63 | -8 | 144 | |
Interest Expense Interest ExpenseCr | 483 | 494 | 511 | 500 | 509 | 536 | 551 | 551 | 552 | 561 | 566 | 602 |
Depreciation DepreciationCr | 237 | 242 | 263 | 241 | 259 | 258 | 292 | 315 | 320 | 323 | 315 | 354 |
PBT PBTCr | 676 | 750 | 637 | 730 | 888 | 904 | 993 | 977 | 1,223 | 1,323 | 1,298 | 1,545 |
| 260 | 241 | 235 | 253 | 299 | 299 | 306 | 334 | 391 | 432 | 479 | 488 | |
| 416 | 510 | 412 | 485 | 588 | 609 | 698 | 643 | 833 | 891 | 820 | 1,058 | |
Growth YoY PAT Growth YoY% | 11.4 | 67.8 | 22.6 | 9.8 | 41.4 | 19.6 | 69.5 | 32.6 | 41.6 | 46.3 | 17.5 | 64.5 |
NPM NPM% | 4.2 | 5.0 | 4.1 | 4.7 | 5.2 | 5.5 | 6.0 | 5.3 | 5.9 | 6.0 | 5.4 | 6.5 |
| 8.1 | 10.1 | 8.1 | 9.7 | 11.8 | 11.9 | 13.6 | 12.8 | 16.7 | 17.7 | 16.2 | 21.5 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,933 | 10,114 | 9,942 | 10,314 | 11,302 | 11,035 | 11,542 | 12,210 | 14,051 | 14,756 | 15,053 | 16,296 | |
Growth YoY Revenue Growth YoY% | 16.0 | 25.4 | 23.8 | 13.9 | 13.8 | 9.1 | 16.1 | 18.4 | 24.3 | 33.7 | 30.4 | 33.5 |
| 8,577 | 8,626 | 8,478 | 8,866 | 9,659 | 9,381 | 9,622 | 10,396 | 11,929 | 12,485 | 12,866 | 13,938 | |
| 1,356 | 1,488 | 1,464 | 1,449 | 1,642 | 1,654 | 1,920 | 1,814 | 2,122 | 2,270 | 2,187 | 2,357 | |
OPM OPM% | 13.7 | 14.7 | 14.7 | 14.1 | 14.5 | 15.0 | 16.6 | 14.9 | 15.1 | 15.4 | 14.5 | 14.5 |
| 40 | -1 | -53 | 23 | 13 | 44 | -84 | 29 | -26 | -63 | -8 | 144 | |
Interest Expense Interest ExpenseCr | 483 | 494 | 511 | 500 | 509 | 536 | 551 | 551 | 552 | 561 | 566 | 602 |
Depreciation DepreciationCr | 237 | 242 | 263 | 241 | 259 | 258 | 292 | 315 | 320 | 323 | 315 | 354 |
PBT PBTCr | 676 | 750 | 637 | 730 | 888 | 904 | 993 | 977 | 1,223 | 1,323 | 1,298 | 1,545 |
| 260 | 241 | 235 | 253 | 299 | 299 | 306 | 334 | 391 | 432 | 479 | 488 | |
| 416 | 510 | 412 | 485 | 588 | 609 | 698 | 643 | 833 | 891 | 820 | 1,058 | |
Growth YoY PAT Growth YoY% | 11.4 | 67.8 | 22.6 | 9.8 | 41.4 | 19.6 | 69.5 | 32.6 | 41.6 | 46.3 | 17.5 | 64.5 |
NPM NPM% | 4.2 | 5.0 | 4.1 | 4.7 | 5.2 | 5.5 | 6.0 | 5.3 | 5.9 | 6.0 | 5.4 | 6.5 |
| 8.1 | 10.1 | 8.1 | 9.7 | 11.8 | 11.9 | 13.6 | 12.8 | 16.7 | 17.7 | 16.2 | 21.5 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 11,377 | 12,463 | 16,340 | 20,160 | 18,849 | 19,421 | 24,355 | 31,974 | 38,779 | 44,089 | 56,070 | 60,155 |
Growth Revenue Growth% | 10.9 | 9.5 | 31.1 | 23.4 | -6.5 | 3.0 | 25.4 | 31.3 | 21.3 | 13.7 | 27.2 | 30.5 |
| 10,561 | 11,594 | 14,798 | 17,999 | 16,576 | 17,183 | 21,601 | 27,907 | 33,301 | 37,440 | 47,676 | 51,218 | |
| 816 | 869 | 1,542 | 2,161 | 2,273 | 2,238 | 2,755 | 4,067 | 5,478 | 6,649 | 8,393 | 8,937 | |
OPM OPM% | 7.2 | 7.0 | 9.4 | 10.7 | 12.1 | 11.5 | 11.3 | 12.7 | 14.1 | 15.1 | 15.0 | 14.9 |
| 96 | 166 | 100 | 27 | 3 | 30 | -5 | 95 | 62 | -5 | -69 | 46 | |
Interest Expense Interest ExpenseCr | 70 | 60 | 338 | 663 | 855 | 881 | 940 | 1,368 | 1,917 | 2,093 | 2,230 | 2,281 |
Depreciation DepreciationCr | 262 | 317 | 374 | 442 | 556 | 565 | 743 | 859 | 956 | 1,046 | 1,273 | 1,312 |
PBT PBTCr | 580 | 658 | 931 | 1,083 | 865 | 822 | 1,067 | 1,936 | 2,668 | 3,505 | 4,822 | 5,390 |
| 151 | 149 | 266 | 357 | 219 | 214 | 336 | 627 | 914 | 1,155 | 1,635 | 1,789 | |
PAT PATCr | 429 | 509 | 665 | 725 | 647 | 608 | 731 | 1,309 | 1,754 | 2,350 | 3,186 | 3,601 |
Growth PAT Growth% | 33.9 | 18.8 | 30.5 | 9.1 | -10.8 | -6.1 | 20.3 | 79.2 | 33.9 | 34.0 | 35.6 | 41.9 |
NPM NPM% | 3.8 | 4.1 | 4.1 | 3.6 | 3.4 | 3.1 | 3.0 | 4.1 | 4.5 | 5.3 | 5.7 | 6.0 |
| 9.0 | 10.8 | 13.7 | 14.8 | 13.2 | 12.5 | 15.9 | 28.0 | 35.5 | 47.0 | 63.5 | 72.2 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 11,377 | 12,463 | 16,340 | 20,160 | 18,849 | 19,421 | 24,355 | 31,974 | 38,779 | 44,089 | 56,070 | 60,155 |
Growth Revenue Growth% | 10.9 | 9.5 | 31.1 | 23.4 | -6.5 | 3.0 | 25.4 | 31.3 | 21.3 | 13.7 | 27.2 | 30.5 |
| 10,561 | 11,594 | 14,798 | 17,999 | 16,576 | 17,183 | 21,601 | 27,907 | 33,301 | 37,440 | 47,676 | 51,218 | |
| 816 | 869 | 1,542 | 2,161 | 2,273 | 2,238 | 2,755 | 4,067 | 5,478 | 6,649 | 8,393 | 8,937 | |
OPM OPM% | 7.2 | 7.0 | 9.4 | 10.7 | 12.1 | 11.5 | 11.3 | 12.7 | 14.1 | 15.1 | 15.0 | 14.9 |
| 96 | 166 | 100 | 27 | 3 | 30 | -5 | 95 | 62 | -5 | -69 | 46 | |
Interest Expense Interest ExpenseCr | 70 | 60 | 338 | 663 | 855 | 881 | 940 | 1,368 | 1,917 | 2,093 | 2,230 | 2,281 |
Depreciation DepreciationCr | 262 | 317 | 374 | 442 | 556 | 565 | 743 | 859 | 956 | 1,046 | 1,273 | 1,312 |
PBT PBTCr | 580 | 658 | 931 | 1,083 | 865 | 822 | 1,067 | 1,936 | 2,668 | 3,505 | 4,822 | 5,390 |
| 151 | 149 | 266 | 357 | 219 | 214 | 336 | 627 | 914 | 1,155 | 1,635 | 1,789 | |
PAT PATCr | 429 | 509 | 665 | 725 | 647 | 608 | 731 | 1,309 | 1,754 | 2,350 | 3,186 | 3,601 |
Growth PAT Growth% | 33.9 | 18.8 | 30.5 | 9.1 | -10.8 | -6.1 | 20.3 | 79.2 | 33.9 | 34.0 | 35.6 | 41.9 |
NPM NPM% | 3.8 | 4.1 | 4.1 | 3.6 | 3.4 | 3.1 | 3.0 | 4.1 | 4.5 | 5.3 | 5.7 | 6.0 |
| 9.0 | 10.8 | 13.7 | 14.8 | 13.2 | 12.5 | 15.9 | 28.0 | 35.5 | 47.0 | 63.5 | 72.2 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
Reserves ReservesCr | 1,771 | 2,169 | 2,630 | 3,123 | 3,235 | 3,779 | 4,352 | 5,457 | 6,736 | 8,518 | 9,545 |
| 2,625 | 3,209 | 7,830 | 8,185 | 10,025 | 10,909 | 13,906 | 19,219 | 21,078 | 23,174 | 32,068 | |
| 704 | 695 | 2,502 | 5,096 | 5,731 | 6,869 | 8,167 | 10,104 | 13,631 | 15,321 | 13,720 | |
| 5,146 | 6,128 | 13,190 | 16,696 | 19,359 | 21,993 | 27,127 | 35,233 | 42,220 | 47,937 | 56,501 | |
| 2,052 | 2,434 | 6,325 | 8,332 | 9,739 | 10,537 | 12,888 | 17,024 | 21,520 | 25,984 | 31,469 | |
| 3,094 | 3,694 | 6,866 | 8,365 | 9,620 | 11,456 | 14,239 | 18,209 | 20,700 | 21,953 | 25,031 | |
| 5,146 | 6,128 | 13,190 | 16,696 | 19,359 | 21,993 | 27,127 | 35,233 | 42,220 | 47,937 | 56,501 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
Reserves ReservesCr | 1,771 | 2,169 | 2,630 | 3,123 | 3,235 | 3,779 | 4,352 | 5,457 | 6,736 | 8,518 | 9,545 |
| 2,625 | 3,209 | 7,830 | 8,185 | 10,025 | 10,909 | 13,906 | 19,219 | 21,078 | 23,174 | 32,068 | |
| 704 | 695 | 2,502 | 5,096 | 5,731 | 6,869 | 8,167 | 10,104 | 13,631 | 15,321 | 13,720 | |
| 5,146 | 6,128 | 13,190 | 16,696 | 19,359 | 21,993 | 27,127 | 35,233 | 42,220 | 47,937 | 56,501 | |
| 2,052 | 2,434 | 6,325 | 8,332 | 9,739 | 10,537 | 12,888 | 17,024 | 21,520 | 25,984 | 31,469 | |
| 3,094 | 3,694 | 6,866 | 8,365 | 9,620 | 11,456 | 14,239 | 18,209 | 20,700 | 21,953 | 25,031 | |
| 5,146 | 6,128 | 13,190 | 16,696 | 19,359 | 21,993 | 27,127 | 35,233 | 42,220 | 47,937 | 56,501 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 936 | 689 | 354 | -918 | 373 | 1,151 | -1,575 | -4,405 | -1,253 | 3,503 | 1,867 | |
| -605 | -709 | -1,095 | -1,104 | -1,090 | -882 | -1,471 | -1,308 | -1,481 | -2,899 | -2,964 | |
| -319 | -59 | 897 | 2,210 | 1,619 | 264 | 2,918 | 6,118 | 3,239 | 1,155 | 909 | |
Net Cash Flow Net Cash FlowCr | 12 | -79 | 156 | 188 | 902 | 532 | -128 | 406 | 505 | 1,759 | -189 |
Free Cash Flow Free Cash FlowCr | 378 | 108 | -410 | -1,594 | -617 | 227 | -2,531 | -5,724 | -2,363 | 1,044 | -1,280 |
CFO To PAT CFO To PAT% | 218.4 | 135.4 | 53.3 | -126.5 | 57.7 | 189.5 | -215.5 | -336.4 | -71.4 | 149.1 | 58.6 |
CFO To EBITDA CFO To EBITDA% | 114.7 | 79.3 | 23.0 | -42.5 | 16.4 | 51.5 | -57.2 | -108.3 | -22.9 | 52.7 | 22.2 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 936 | 689 | 354 | -918 | 373 | 1,151 | -1,575 | -4,405 | -1,253 | 3,503 | 1,867 | |
| -605 | -709 | -1,095 | -1,104 | -1,090 | -882 | -1,471 | -1,308 | -1,481 | -2,899 | -2,964 | |
| -319 | -59 | 897 | 2,210 | 1,619 | 264 | 2,918 | 6,118 | 3,239 | 1,155 | 909 | |
Net Cash Flow Net Cash FlowCr | 12 | -79 | 156 | 188 | 902 | 532 | -128 | 406 | 505 | 1,759 | -189 |
Free Cash Flow Free Cash FlowCr | 378 | 108 | -410 | -1,594 | -617 | 227 | -2,531 | -5,724 | -2,363 | 1,044 | -1,280 |
CFO To PAT CFO To PAT% | 218.4 | 135.4 | 53.3 | -126.5 | 57.7 | 189.5 | -215.5 | -336.4 | -71.4 | 149.1 | 58.6 |
CFO To EBITDA CFO To EBITDA% | 114.7 | 79.3 | 23.0 | -42.5 | 16.4 | 51.5 | -57.2 | -108.3 | -22.9 | 52.7 | 22.2 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 15,329 | 20,505 | 29,311 | 22,541 | 14,105 | 27,797 | 29,724 | 51,186 | 1,02,213 | 1,14,992 | 1,59,905 | 1,96,686 |
Price To Earnings Price To Earnings | 38.9 | 42.1 | 44.9 | 32.0 | 22.6 | 46.8 | 39.3 | 38.5 | 60.6 | 51.4 | 53.0 | 57.4 |
Price To Sales Price To Sales | 1.4 | 1.6 | 1.8 | 1.1 | 0.8 | 1.4 | 1.2 | 1.6 | 2.6 | 2.6 | 2.9 | 3.3 |
Price To Book Price To Book | 8.4 | 9.3 | 10.9 | 7.1 | 4.3 | 7.3 | 6.8 | 9.3 | 15.1 | 13.4 | 16.7 | 20.5 |
EV To EBITDA EV To EBITDA | 19.8 | 25.0 | 22.5 | 14.1 | 9.8 | 17.1 | 16.0 | 17.6 | 23.0 | 20.9 | 22.4 | 25.3 |
GPM GPM% | 27.4 | 26.3 | 29.1 | 29.3 | 33.2 | 32.2 | 32.1 | 33.7 | 36.5 | 38.4 | 36.9 | 36.9 |
OPM OPM% | 7.2 | 7.0 | 9.4 | 10.7 | 12.1 | 11.5 | 11.3 | 12.7 | 14.1 | 15.1 | 15.0 | 14.9 |
NPM NPM% | 3.8 | 4.1 | 4.1 | 3.6 | 3.4 | 3.1 | 3.0 | 4.1 | 4.5 | 5.3 | 5.7 | 6.0 |
ROCE ROCE% | 23.9 | 20.8 | 15.4 | 15.4 | 13.7 | 10.6 | 9.9 | 11.8 | 14.0 | 15.1 | 16.6 | 16.6 |
ROE ROE% | 23.6 | 23.0 | 24.8 | 22.9 | 19.7 | 15.9 | 16.6 | 23.8 | 25.9 | 27.4 | 33.2 | 33.2 |
ROA ROA% | 8.3 | 8.3 | 5.0 | 4.3 | 3.3 | 2.8 | 2.7 | 3.7 | 4.2 | 4.9 | 5.6 | 5.6 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 15,329 | 20,505 | 29,311 | 22,541 | 14,105 | 27,797 | 29,724 | 51,186 | 1,02,213 | 1,14,992 | 1,59,905 | 1,96,686 |
Price To Earnings Price To Earnings | 38.9 | 42.1 | 44.9 | 32.0 | 22.6 | 46.8 | 39.3 | 38.5 | 60.6 | 51.4 | 53.0 | 57.4 |
Price To Sales Price To Sales | 1.4 | 1.6 | 1.8 | 1.1 | 0.8 | 1.4 | 1.2 | 1.6 | 2.6 | 2.6 | 2.9 | 3.3 |
Price To Book Price To Book | 8.4 | 9.3 | 10.9 | 7.1 | 4.3 | 7.3 | 6.8 | 9.3 | 15.1 | 13.4 | 16.7 | 20.5 |
EV To EBITDA EV To EBITDA | 19.8 | 25.0 | 22.5 | 14.1 | 9.8 | 17.1 | 16.0 | 17.6 | 23.0 | 20.9 | 22.4 | 25.3 |
GPM GPM% | 27.4 | 26.3 | 29.1 | 29.3 | 33.2 | 32.2 | 32.1 | 33.7 | 36.5 | 38.4 | 36.9 | 36.9 |
OPM OPM% | 7.2 | 7.0 | 9.4 | 10.7 | 12.1 | 11.5 | 11.3 | 12.7 | 14.1 | 15.1 | 15.0 | 14.9 |
NPM NPM% | 3.8 | 4.1 | 4.1 | 3.6 | 3.4 | 3.1 | 3.0 | 4.1 | 4.5 | 5.3 | 5.7 | 6.0 |
ROCE ROCE% | 23.9 | 20.8 | 15.4 | 15.4 | 13.7 | 10.6 | 9.9 | 11.8 | 14.0 | 15.1 | 16.6 | 16.6 |
ROE ROE% | 23.6 | 23.0 | 24.8 | 22.9 | 19.7 | 15.9 | 16.6 | 23.8 | 25.9 | 27.4 | 33.2 | 33.2 |
ROA ROA% | 8.3 | 8.3 | 5.0 | 4.3 | 3.3 | 2.8 | 2.7 | 3.7 | 4.2 | 4.9 | 5.6 | 5.6 |
Documents — TVS Motor Company Ltd
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