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TVS Motor Company Limited
(TVSMOTOR)
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Rating:59Neutral
Price Target:
₹4,520.00
▲(16.79% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by financial risk factors—high leverage and weak/volatile cash flow conversion (including negative latest-year free cash flow). These are partially offset by strong technical momentum (price above key moving averages and positive MACD), but the high P/E and low dividend yield keep the overall score in the mid range.
Positive Factors
Sustained Revenue Growth
Sustained revenue expansion indicates durable demand and increasing scale across TVS Motor’s vehicle business. Continued volume and product-mix growth can support operating leverage and reinforce its competitive position over the next several quarters.
Negative Factors
High Persistent Leverage
Elevated leverage increases sensitivity to interest rates, working-capital swings, and downturns. It can constrain financial flexibility and amplify earnings risk if vehicle demand weakens or investment needs rise, despite strong returns on equity.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Sustained revenue expansion indicates durable demand and increasing scale across TVS Motor’s vehicle business. Continued volume and product-mix growth can support operating leverage and reinforce its competitive position over the next several quarters.
Read all positive factors
TVS Motor Company Limited (TVSMOTOR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.91T
Dividend Yield0.3%
Average Volume (3M)52.16K
Price to Earnings (P/E)55.7
Beta (1Y)1.62
Revenue Growth30.24%
EPS Growth43.76%
CountryIN
Employees5,980
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)72.19
Shares Outstanding475,087,130
10 Day Avg. Volume36,683
30 Day Avg. Volume52,158
Financial Highlights & Ratios
PEG Ratio1.44
Price to Book (P/B)16.71
Price to Sales (P/S)2.85
P/FCF Ratio-101.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹5,112.50Price Target Upside32.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)96.14
Revenue Forecast (FY)₹570.77B
TVS Motor Company Limited Business Overview & Revenue Model
Company Description
TVS Motor Company Limited, along with its subsidiary entities, is actively involved in the production and global sale of automotive vehicles, their components, spare parts, and related accessories. The company's business activities are structured ...
How the Company Makes Money
TVS Motor primarily makes money by selling vehicles (two-wheelers and three-wheelers) to customers via a network of dealers and distributors in India and through exports to international markets. Revenue is generated from the sale of finished vehi...
TVS Motor Company Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
49
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 601.55B | 560.70B | 441.34B | 388.64B | 320.92B | 243.68B |
| Gross Profit | 180.14B | 155.26B | 171.32B | 144.04B | 110.96B | 80.09B |
| EBITDA | 89.98B | 83.24B | 62.82B | 52.15B | 38.98B | 25.66B |
| Net Income | 34.28B | 30.18B | 22.36B | 16.86B | 13.29B | 7.57B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 565.01B | 479.37B | 422.20B | 352.33B | 270.72B |
| Cash, Cash Equivalents and Short-Term Investments | 44.65B | 50.21B | 46.39B | 25.46B | 20.64B | 15.93B |
| Total Debt | 0.00 | 327.91B | 286.09B | 260.06B | 223.76B | 158.27B |
| Total Liabilities | -107.13B | 457.88B | 384.95B | 347.09B | 293.23B | 220.19B |
| Stockholders Equity | 107.13B | 95.64B | 85.03B | 67.84B | 55.05B | 43.99B |
Cash Flow | ||||||
| Free Cash Flow | -1.82B | -15.76B | 10.25B | -23.98B | -57.46B | -25.45B |
| Operating Cash Flow | 13.90B | 16.59B | 35.03B | -12.53B | -44.05B | -15.60B |
| Investing Cash Flow | -15.81B | -29.78B | -28.99B | -10.01B | -13.08B | -14.86B |
| Financing Cash Flow | 7.95B | 11.30B | 11.55B | 27.59B | 61.18B | 29.18B |
TVS Motor Company Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ₹1.91T | 32.89 | ― | 1.18% | 28.07% | 19.24% | |
77 Outperform | ₹1.04T | 18.98 | ― | 3.58% | 25.64% | 8.11% | |
61 Neutral | ₹2.77T | 23.86 | ― | 1.49% | 36.91% | 54.76% | |
59 Neutral | ₹1.91T | 55.70 | ― | 0.30% | 30.24% | 43.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹556.59B | -138.26 | ― | ― | ― | ― | |
47 Neutral | ₹171.67B | -9.14 | ― | ― | -49.16% | 26.59% |
* General Sector Average
IN:TVSMOTOR
TVS Motor Company Limited
4,021.45
522.93
14.95%
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Bajaj Auto Limited
10,069.85
1,397.58
16.12%
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6,949.85
144.32
2.12%
IN:HEROMOTOCO
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IN:OLAELEC
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37.09
-15.51
-29.49%
IN:ATHERENERG
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126.43%
TVS Motor Company Limited Corporate Events
TVS Motor Delivers Record Quarterly and June 2026 Sales on EV and Export Surge
Jul 2, 2026
TVS Motor Company reported its highest-ever quarterly sales in the first quarter of FY 2026-27, reaching 1.63 million units, driven by strong growth in both two-wheelers and three-wheelers. Two-wheeler volumes rose 27% to 1.564 million units, whil...
TVS Motor files Business Responsibility and Sustainability Report for FY 2025-26
Jun 29, 2026
TVS Motor Company Limited has released its Business Responsibility and Sustainability Report for the financial year 2025-26, prepared on a standalone basis and covering its core manufacturing operations in India. The report has obtained reasonable...
TVS Motor sets July 22, 2026 virtual AGM to approve FY26 accounts and governance matters
Jun 29, 2026
TVS Motor Company has scheduled its 34th Annual General Meeting for July 22, 2026, at 11:00 a.m. IST, to be conducted via video conference and other audio-visual means, with the notice also made available on the company’s website. Shareholde...
TVS Motor Shareholders Approve Appointment of Independent Director via Postal Ballot
Jun 20, 2026
TVS Motor Company Limited has announced that its shareholders have approved, via postal ballot and e-voting, the appointment of Mr. Ravindran Shanmugam as a Non-Executive Independent Director for a five-year term effective 13 May 2026. The resolut...
TVS Motor Tops Global Ranking for Shareholder Value in Durable Consumer Goods
May 25, 2026
TVS Motor Company has been ranked number one globally for shareholder value creation in the durable consumer goods category in the annual “Best Stocks in the World” ranking by Germany’s WirtschaftsWoche, based on Boston Consultin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.