ADVERTISEMENT

TVS Motor Q3 Results Review - Good Show In Tough Time: Dolat Capital

TVS Motor Company's Q3 numbers were broadly in line with estimates.

<div class="paragraphs"><p>A TVS Motor Co. factory building. (Source: Company website)</p></div>
A TVS Motor Co. factory building. (Source: Company website)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Dolat Capital Report

TVS Motor Company Ltd.'s Q3 numbers were broadly in line with estimates. Despite several headwinds (weak international market and supply side constraint) margin stood at 10.07% led by product mix optimisation, cost control initiatives and price hikes.

Average selling price improved 6% QoQ, attributed to price increase, high number of electric vehicle sales and better product mix (Apache and Raider).

TVS Motor's management sounded confident on both demand and margin, double digit margin is sustainable and expected to inch up in coming quarter due to premiumisation with ramp up in volume of Apache, Ronin, Ntorq, Raider and Jupiter 125.

Click on the attachment to read the full report:

Dolat Capital TVS Motor Q3FY23 Result Update.pdf
Opinion
TVS Motor Q3 Results: Profit Rises As Margin Improves But Misses Estimates

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.