Transport Related Services company TVS Supply Chain Solutions announced Q1FY25 results: For Q1FY25, on a consolidated basis, the revenue stood at Rs 2,539.4 crore as against Rs 2,288.9 crore. in the same quarter last year reflecting 10.9% growth on a YoY basis. TVS SCS profit momentum continues; Q1 PAT at Rs 7.5 crore PBT improves for the fourth consecutive quarter to Rs 13.7 crore on the back of double-digit revenue growth Consolidated revenue grew by 10.9% (YoY) ISCS segment revenue grew by 8.1% (YoY) and NS Segment revenue grew by 14.8% (YoY) Commenting on the Q1FY25 performance, Ravi Viswanathan, Managing Director, said, "We had a strong first quarter, driven by topline growth in both our ISCS and NS segments. The ISCS segment continues to lead our performance supported by significant volume improvements in the NS segment. Our customers recognize our supply chain transformation capabilities, tech-led solutions and the ability to deploy AI-driven solutions resulting in our participation in more large deals.” He further added, "We see a significant growth opportunity in India following the recent budget announcement, which has provided a strong impetus for the manufacturing sector. This development is expected to open up more outsourcing opportunities for supply chain player like TVS SCS." Commenting on the Q1 results,Ravi Prakash Bhagavathula, Global CFO, said, “Investments in process automation and productivity initiatives have driven improvement in operating margins. This combined with effective debt management has led to PBT improvements for the last four quarters. Our robust order pipeline combined with our focus on operational efficiencies give us the confidence in sustaining this growth momentum in the upcoming quarters.” During the quarter, the company made significant strides by securing key new business wins, including partnerships with global OEMs in the commercial vehicle sector in both India and Singapore. Among the notable achievements, the company received ‘Partner Level Supplier’ recognition from a U.S.-based global farm equipment manufacturer. Additionally, a strategic collaboration with a leading UK-based university was established to drive innovation in artificial intelligence. The company also demonstrated its operational prowess by successfully delivering 500,000 Completely Knocked Down (CKD) kits to a major Indian two-wheeler manufacturer Result PDF
Transport Related Services company TVS Supply Chain Solutions announced Q4FY24 & FY24 results: TVS SCS Q4 Net Profit at Rs 5.4 crore PBT improves for the third consecutive quarter to Rs 5 crore ISCS segment revenue continued its growth momentum in Q4 at 9.9% and full year by 14.4% Multiple cost optimisation measures and continuous improvement in operational efficiency drive improvement in PAT for Q4FY24 The Company reported Profit After Tax of Rs 5.40 crore for the quarter ended 31-March-2024 as against the loss of Rs 9.4 crore in Q4FY23. ISCS segment with quarterly revenue of Rs 1,379.5 crore continued its growth trajectory with 8.4% QoQ growth and 9.9% YoY. EBITDA margin for ISCS in the current quarter was 9.6% an YoY increase of 40 bps. Full Year ISCS segment revenue was Rs 5,240 crore, a YoY growth of 14.4%. All key geographies viz., UK, USA and India grew consistently. EBITDA margins for the same period grew by 130 bps driving an absolute EBITDA growth of 31.4% to Rs 536.2 crore. NS business segment reported quarterly revenue of Rs 1,046.8 crore, a 10.2% QoQ growth basis. Revenue nearly matched the same quarter numbers in FY23 reflecting a relative stabilization of the global freight markets and growth in the Integrated Final Mile (IFM) business. For the full year ended March 2024, revenue from NS segment was Rs 3,960 crore which fell by 26.9% compared to the previous year as global freight rates normalized after the COVID highs. For the full year, the consolidated revenue was at Rs 9,200 crore which was lower by Rs 794 crore., compared to that of FY23 mainly due to global trade cycle challenges in NS segment which was compensated by additional business from ISCS segment. The adjusted EBITDA increased to Rs 710.2 crore, a growth of 3.7%. While the operating margins improved, the company reported loss after tax (before exceptional items) for the year at Rs 31.3 crore compared to profit (before exceptional items) of Rs 57.7 crore in the previous year, mostly driven by the effect of very high interest costs in the first two quarters. The company returned to profit in Q3 with its turnaround performance through consistent growth in ISCS segment and the Network Solutions reflected stability in Q4. It also reduced debt to the tune of Rs 1,195 crore. Commenting on the financial performance, Ravi Viswanathan, Managing Director, TVS Supply Chain Solutions Ltd. said, "The quarterly and annual results reflect the consistent growth in the ISCS segment and strong resilience, despite major headwinds, in the NS segment. We have made considerable progress in our cross selling and customer acquisition strategy and significantly expanded our footprint within the Fortune 500 customers' segment. Our technology led solutions are differentiating us in the marketplace as we embark on deploying Al at scale in our customer engagements across the USA, Europe and India." He further added, "We are continuously strengthening our organization with process and technology to capitalize on growth opportunities and remain confident of our healthy business development pipeline, which will drive further growth in FY25." Commenting on the performance, Ravi Prakash Bhagavathula, Global CFO of TVS Supply Chain Solutions Ltd. said, "Our financial performance for Q4FY24 is a result of the continuous cost optimisation, digitisation and operational efficiency measures, which has driven the margin expansion by 80 bps, and realization of the full benefits of the debt reduction efforts of the Company. These measures have laid the essential foundation as we pursue our medium-term goals." Result PDF