NSE: TVSMOTOR | BSE: 532343

Strong Performer, Getting Expensive

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3505.00 48.90 (1.41%)

Near 52W High of ₹3602.70

657.7K NSE+BSE Volume

NSE 06 Oct, 2025 2:19 PM (IST)

166,518

Market Cap

Above industry Median

1.3

Beta 1Year

Very High Volatility

Rising Wholesales

TVS Motor's total wholesales rise 12% YoY in September, driven by a 10% YoY growth in exports See details

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.

05 Feb 2020, 12:00AM

3505.00

1.41%

First Light | TVS Motor, Century Plyboards

Sell: TVS Motor Company Ltd.

Recommendation Target

BOB Capital Markets Ltd.

TVSL: Margins resilient; outlook challenging. CPBI: In-line quarter

TVS Motor Company Ltd. has gained 30.42% in the last 1 Year

TVS Motor Company Ltd.

04 Feb 2020

3505.00

1.41%

Above-estimate; margins resilient despite volume weakness

Neutral: TVS Motor Company Ltd.

Target

Motilal Oswal

4 February 2020 TVSLs strong operating performance (driven by cost reduction), despite the volume weakness (op. leverage), was commendable and instills confidence of double-digit margins by FY22 as volumes recover. However, our FY20/21E EPS is largely unchanged as the cut in our volume estimates offsets the upgrades in the margin estimates. We maintain with a TP of ~INR460 (~18x Mar22E consol. Revenue/EBITDA declined 11.5%/3% YoY to ~INR41.2b/INR3.6b, while adj. PAT was up 1% YoY at INR1.8b. For 9MFY20, revenue/EBITDA/PAT declined ~6%/2%/4% YoY. Volume declined by ~17% YoY (-7% QoQ). Realizations were up ~7% YoY favourable FX.

TVS Motor Company Ltd. has gained 30.42% in the last 1 Year

TVS Motor Company Ltd.

31 Oct 2019

3505.00

1.41%

EARNINGS UPDATE-TVS MOTOR 2QFY20

Sell: TVS Motor Company Ltd.

Recommendation Target

Chola Wealth Direct

Background: TVS Motors Company Limited (TVSM) is the third-largest two-wheeler manufacturer in India with revenues of INR 182bn in FY19. The company manufactures motorcycles, scooters, mopeds and three-wheelers and has a production capacity of 4mn two-wheelers and 0.12mn three-wheelers.TVS Motors is credited with many innovations in the Indian automobile industry, notable among them being the introduction of India's first two-seater moped, the TVS 50cc. The company has 4 manufacturing plants in total with three of them in India (Hosur, Mysore and Nalagarh in India and one in Indonesia, Karawang). In FY19, 40% of volumes were from sale of...

TVS Motor Company Ltd. has gained 42.19% in the last 6 Months

TVS Motor Company Ltd.

18 Oct 2019

3505.00

1.41%

TVS MOTOR LIMITED

Sell: TVS Motor Company Ltd.

Target

Geojit BNP Paribas

TVS Motors (TVS) is the third largest two- wheeler manufacturer in India with a market share of 14.8% in FY19. Q2FY20 revenue de-grew by 13%YoY due to sluggish Industry...

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

TVS Motor Company Ltd.

17 Oct 2019

3505.00

1.41%

Q2FY20 Result Update

Hold: TVS Motor Company Ltd.

Target

Prabhudas Lilladhar

TVSL's results were operationally better as EBITDA margins came in at 8.8% Change in Estimates | Target | Reco (PLe: 7.7%), expanding +20bp YoY/ +80bp QoQ. The margins beat was led by lower RM (20bp QoQ), cost control benefits (130bp QoQ). Going forward,...

TVS Motor Company Ltd. has gained 30.42% in the last 1 Year

TVS Motor Company Ltd.

17 Oct 2019

3505.00

1.41%

Above estimates; cost-cutting efforts drive sharp margin improvement

Neutral: TVS Motor Company Ltd.

Target

Motilal Oswal

YoY (-4% QoQ) to 885.8k units in 2QFY20. Realizations increased ~7% YoY mix and price increases. Revenues were down ~13% YoY to INR43.5b. Gross 17 October 2019 driven by cost-cutting initiatives (120bp QoQ) and mix (40bp QoQ). For 1HFY20, revenue/EBITDA/PAT were down ~4%/2%/6% YoY. (a) Heavy rain during Navratras in the central/east region and Maharashtra resulted in much lower retails. However, retails have started picking up since the last few days due to receding rains. Diwali retails are expected to be good for TVSL. (b) Rural economy will likely improve either in 4QFY20 or 1QFY21 as sentiment is turning positive. (c) The strong focus on cost reduction is leading to a continuous improvement in margins. (d) TVSL expects further commodity cost benefit in 2HFY20. (e) Inventory is stable at five weeks.

TVS Motor Company Ltd. is trading above all available SMAs

TVS Motor Company Ltd.

17 Oct 2019

3505.00

1.41%

TVS Motor: RESULT REVIEW

Buy: TVS Motor Company Ltd.

Target

Karvy

Impressive Performance Continues Maintain BUY: During Q2FY20, TVS sales declined by 12.9 percent YoY to Rs43.5bn (above our estimatesRs41.5 bn).

TVS Motor Company Ltd. has gained 30.42% in the last 1 Year

TVS Motor Company Ltd.

30 Jul 2019

3505.00

1.41%

EARNINGS UPDATE-TVS MOTORS LTD 1QFY20

Neutral: TVS Motor Company Ltd.

Recommendation Target

Chola Wealth Direct

Background: TVS Motors Company Limited (TVSM), the third-largest two-wheeler manufacturer in India, is a part of TVS Group; it manufactures motorcycles, scooters, mopeds and three-wheelers in India. TVS Motors is credited with many innovations in the Indian automobile industry, notable among them being the introduction of India's first two-seater moped, the TVS 50cc. The company has presence in all the three sub-segments of two wheelers, i.e., motorcycles, scooters...

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

TVS Motor Company Ltd.

25 Jul 2019

3505.00

1.41%

TVS MOTOR LIMITED

Sell: TVS Motor Company Ltd.

Target

Geojit BNP Paribas

TVS Motors (TVS) is the third largest two- wheeler manufacturer in India with market share of 14.8% in FY19. Q1FY20 revenue grew by 7%YoY owing to marginal price hike and increase in export sales(+10%YoY). Volume for the quarter came at negative 1%YoY, largely accounts to sluggish domestic demand. EBITDA margin improved by 30bps (in line with our estimates) owing to lower input cost and cost control measures. However PAT de-grew by 3%YoY due to higher interest & depreciation cost....

TVS Motor Company Ltd. is trading above all available SMAs

TVS Motor Company Ltd.

24 Jul 2019

3505.00

1.41%

TVS Motor Company: Q1FY20 Result Review

Sell: TVS Motor Company Ltd.

Target

IDBI Capital

TVS motors (TVSL) Q1FY20 results were above our and consensus estimates at operating level. EBITDA margin for the quarter stood at 8.0% which was above our and consensus estimates of 7.0% and 7.3% respectively mainly on account of low RM cost. We cut our volume and revenue estimates by 10% and 14% for FY20E factoring slower growth for 2W in YTD-FY20. We have built in revenue/earning CAGR of 6% and 8% over FY19-FY21E respectively with EBITDA margin of ~8.1%. We change our rating to SELL (earlier REDUCE) and TP to Rs310 (earlier Rs430). We reduce our target multiple and value the company at 19x (earlier 21x) on account of demand uncertainty and higher...

TVS Motor Company Ltd. has gained 30.42% in the last 1 Year

Is TVS Motor Company Ltd. worth buying?

331 Votes:

Buy 66.47%

Sell 20.24%

Hold 13.29%

RESEARCH REPORTS

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Buy SEE REPORTS >

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