NSE: TVSMOTOR | BSE: 532343

Strong Performer, Getting Expensive

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3500.10 0.20 (0.01%)

Near 52W High of ₹3602.70

342.7K NSE+BSE Volume

NSE 17 Sep, 2025 3:31 PM (IST)

166,285.2

Market Cap

Below industry Median

1.3

Beta 1Year

Very High Volatility

TVS Motor Company Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for TVSMOTOR, BSE:532343 TVS Motor Company Ltd.

TVS Motor Company Ltd.

30 Oct 2020

3500.10

0.01%

Q2FY21 Result Update - Valuations factors in positives, maintain Sell

Sell: TVS Motor Company Ltd.

Recommendation Target

Prabhudas Lilladhar

TVSL's EBITDA came ~5% better at Rs4.3bn (PLe Rs4.1bn) led by tight control and low advertisement spends in low volume environment. Consequently, TVSL reported better than expected margins at 9.3% (+50bp YoY, PLe 8.6%) However, adj. PAT came in-line at Rs1.9bn (+9.7% YoY) as depreciation cost came in higher at Rs1.3b (PLe Rs1.2b). We believe with eventual volume...

TVS Motor Company Ltd. has gained 55.50% in the last 6 Months

TVS Motor Company Ltd.

30 Oct 2020

3500.10

0.01%

Result Update:TVS Motor Co.

Hold: TVS Motor Company Ltd.

Recommendation Target

Axis Direct

We upgrade our rating from SELL to HOLD with a revised target price of Rs 445 from Rs 400 earlier valuing the company at 22x FY23EPS.

TVS Motor Company Ltd. has gained 25.16% in the last 3 Months

TVS Motor Company Ltd.

30 Oct 2020

3500.10

0.01%

TVS MOTOR LIMITED

Accumulate: TVS Motor Company Ltd.

Recommendation Target

Geojit BNP Paribas

TVS Motors (TVS) is the third largest two- wheeler manufacturer in India with a market share of 13.9% in FY20. We believe sentiments in the rural is positive and urban demand is cautiously optimistic. Higher export, stability in exchange rate and pent up demand are currently driving the industry numbers. Q2FY21 revenue came marginally below our expectation at 6%YoY due to muted volume demand of 2%YoY. However, premium product mix, higher export and price hike led to the growth....

Number of FII/FPI investors increased from 835 to 944 in Jun 2025 qtr.

TVS Motor Company Ltd.

30 Oct 2020

3500.10

0.01%

Margin beat led by favorable Fx and lower expenses

Neutral: TVS Motor Company Ltd.

Target

Motilal Oswal

Net sales grew by 6% YoY to INR46b as volumes declined 2% YoY and realizations grew ~8.1% YoY (-1.1% QoQ) to INR53.1k (v/s est. INR54.7k), driven by the BS6 cost pass-through. Gross margins contracted 70bp QoQ (-320bp YoY) to 23.5% (est. 25%) on the impact of BS6 cost inflation (as contribution margins have not yet been...

Number of FII/FPI investors increased from 835 to 944 in Jun 2025 qtr.

TVS Motor Company Ltd.

29 Oct 2020

3500.10

0.01%

TVS Motor

Buy: TVS Motor Company Ltd.

Target

Sharekhan

TVS Motors Limited's (TVSM) Q2FY2021 results were higher than our as well as consensus estimates, driven by better-than-expected margin performance. Overall revenue grew by 6% y-o-y, driven by an 8% y-o-y increase in realisation due to price hikes on account of BS6 norms. Volumes dropped marginally by 2% y-o-y. Operating profit margin (OPM) stood at 9.3%, highest in the past decade and beating our expectation of 8.5%. Margin improved on a y-o-y basis despite cost pressures on account of BS6 norms. Cost-control measures led to margin improvement. Demand in domestic market has improved, driven by strong rural...

TVS Motor Company Ltd. has gained 25.16% in the last 3 Months

TVS Motor Company Ltd.

29 Oct 2020

3500.10

0.01%

TVS Motor (SELL): Valuations rich; maintain SELL

Sell: TVS Motor Company Ltd.

Target

BOB Capital Markets Ltd.

TVS Motor's (TVSL) Q2FY21 revenue was marginally better than estimated due to above-expected ASP.

TVS Motor Company Ltd. is trading above all available SMAs

TVS Motor Company Ltd.

28 Aug 2020

3500.10

0.01%

Initiating Coverage:TVS Motor Co.

Sell: TVS Motor Company Ltd.

Target

Axis Direct

We are initiating coverage on TVS Motors Company Ltd (TVSL) with a SELL recommendation and a Target Price of Rs 400, which implies ~13% dowside from the current levels.

TVS Motor Company Ltd. has an average target of 3047.30 from 11 brokers.

TVS Motor Company Ltd.

05 Aug 2020

3500.10

0.01%

TVS MOTOR LIMITED

Sell: TVS Motor Company Ltd.

Recommendation Target

Geojit BNP Paribas

TVS Motors (TVS) is the third largest two- wheeler manufacturer in India with a market share of 13.9% in FY20. Q1FY20 revenue de-grew by 68%YoY due to sluggish Industry demand and production lock down in April & May month. Sales volume declined by 71%, dragging the firm into operating losses of 50cr, added up by higher material and fixed cost. Despite taking price hike in Q1 and July by 1.1% we believe TVS could not pass the full BS6 cost due to weak demand and...

TVS Motor Company Ltd. has gained 25.16% in the last 3 Months

TVS Motor Company Ltd.

03 Aug 2020

3500.10

0.01%

TVS Motor

Hold: TVS Motor Company Ltd.

Target

Arihant Capital

TVS Motor loss for the quarter stood at Rs 1,391 Mn during Q1FY21. Standalone revenue stood at Rs 14,317 Mn for Q1FY21 vs Rs.44,686 Mn for the Q1FY20. Lower volumes due to Covid-19 pandemic led to fall in revenue. Company has reported EBITDA loss of Rs 488 Mn, as compared to EBITDA gain of Rs 3,558 Mn in Q1FY20. Total Volume was down by 71.1% YoY to 2,66,933 units. Both production and sales were severely impacted during the quarter. Interest cost increased due to additional borrowings in 1QFY21 to ensure timely payment to suppliers. The...

TVS Motor Company Ltd. has an average target of 3047.30 from 11 brokers.

TVS Motor Company Ltd.

31 Jul 2020

3500.10

0.01%

TVS Motor Company: Q1FY21 Result Review

Sell: TVS Motor Company Ltd.

Recommendation Target

IDBI Capital

TVS Motor (TVSL) Q1FY21 results were above our estimates at EBITDA and PAT level. EBITDA and Adj. loss for the quarter was Rs488mn/Rs1.4bn vs our estimates of Rs667mn/Rs1.5bn on account of lower RM cost and lower operating expenses. We expect 2W industry to decline ~15% in FY21 and more demand for commuter segment. We anticipate lockdown in certain states/cities would impact demand for TVSL premium products. We assume TVSL products like Apache/RR310 and scooter portfolio (Jupiter/Ntorq) could see muted sales. We cut our volume /revenues estimates by 10%/7% for FY21/FY22. We change our rating to SELL (earlier HOLD) with TP of Rs300...

TVS Motor Company Ltd. has gained 15.89% in the last 1 Month

Is TVS Motor Company Ltd. worth buying?

329 Votes:

Buy 66.57%

Sell 20.36%

Hold 13.07%

RESEARCH REPORTS

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