Dolat Capital: TVS Motor Q2 Review - Positives Priced In
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Dolat Capital Report
TVS Motor Company Ltd.’s Q2 FY21 numbers were broadly in line with estimates.
Ebitda grew 13% YoY to Rs 4.3 billion with expanded margin at 9.3% due to cost control initiatives and benefit of operating leverage.
The company has seen marginal growth in retail sales during the Navratri period and is cautiously optimistic about Diwali sales with increasing preference for personal mobility and improvement in rural sentiment.
Urban demand is also catching up well with lockdown restrictions easing out.
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