|
04 Oct 2025 |
TVS Motor Company
|
Consensus Share Price Target
|
3456.10 |
3241.43 |
- |
-6.21 |
buy
|
|
|
|
|
25 Jan 2023
|
TVS Motor Company
|
Axis Direct
|
3456.10
|
1100.00
|
1037.90
(232.99%)
|
Target met |
Buy
|
|
|
We continue to maintain BUY rating on the stock based on richer product mix (3W, premium bikes and scaling up of EV product portfolio) and strong execution capabilities which shall aid margin improvement.
|
|
25 Jan 2023
|
TVS Motor Company
|
ICICI Securities Limited
|
3456.10
|
1251.00
|
983.85
(251.28%)
|
Target met |
Buy
|
|
|
TVS Motor’s (TVSL) Q3FY23 EBITDA margin at 10.1%, largely flat QoQ, was in line with our estimate. EBITDA per vehicle rose 5% QoQ to ~Rs7.5k led by: i) ~6% higher ASP QoQ due to ~1% blended price hike + favourable currency, and ii) higher mix (~200bps increase) of EV model iQube.
|
|
25 Jan 2023
|
TVS Motor Company
|
Motilal Oswal
|
3456.10
|
1000.00
|
1037.90
(232.99%)
|
Target met |
Neutral
|
|
|
|
|
12 Dec 2022
|
TVS Motor Company
|
SBI Securities
|
3456.10
|
1198.00
|
1037.80
(233.02%)
|
Target met |
Buy
|
|
|
|
|
10 Nov 2022
|
TVS Motor Company
|
Geojit BNP Paribas
|
3456.10
|
1029.00
|
1107.45
(212.08%)
|
Target met |
Sell
|
|
|
|
|
07 Nov 2022
|
TVS Motor Company
|
Axis Direct
|
3456.10
|
1230.00
|
1112.75
(210.59%)
|
Target met |
Buy
|
|
|
We arrive at a TP of Rs 1,230 (from Rs 920), using a P/E multiple of 23x on Sep'24 core EPS (roll forward from Mar'24E) and other investments at 1x P/BV (Rs 100/sh), implying an upside of 10.5% from the CMP. We upgrade our rating from HOLD to BUY.
|
|
07 Nov 2022
|
TVS Motor Company
|
ICICI Securities Limited
|
3456.10
|
1284.00
|
1114.15
(210.20%)
|
Target met |
Buy
|
|
|
TVS Motor’s (TVSL) Q2FY23 EBITDA margin at 10.2% (up 23bps QoQ) was in-line with consensus estimate.
|
|
06 Nov 2022
|
TVS Motor Company
|
Prabhudas Lilladhar
|
3456.10
|
1275.00
|
1112.75
(210.59%)
|
Target met |
Buy
|
|
|
|
|
05 Nov 2022
|
TVS Motor Company
|
Motilal Oswal
|
3456.10
|
1000.00
|
1114.15
(210.20%)
|
Target met |
Neutral
|
|
|
|
|
03 Aug 2022
|
TVS Motor Company
|
Chola Wealth Direct
|
3456.10
|
890.00
|
927.75
(272.52%)
|
|
Hold
|
|
|
|