BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Research Report
TVS Motor Company Ltd.'s Q1 FY22 Ebitda margin at 7% was below consensus and our estimates as operating deleverage hurt margins.
The company could offset raw material inflation better than peers through price hikes, product mix improvement and cost rationalisation measures.
The management indicated that demand has started to recover to pre-lockdown levels with the easing of regional lockdowns.
On the electric vehicles front, the company has announced investments of Rs 3 billion in the current year towards product development and capacity expansion (currently 120,000 units per annum); delay in launching products (especially in the mass market segment) can hurt its volume growth.
The exports (30% of sales) momentum remains strong and TVS Motor expects demand to outperform domestic sales.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR