TVS Motor - Impressive Margin Performance In Q4: Dolat Capital
TVS Motor Company factory building (image: Company website).

TVS Motor - Impressive Margin Performance In Q4: Dolat Capital

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.

Dolat Capital Report

TVS Motor Company Ltd.’s reported an impressive margin performance in Q4 FY21.

Ebitda grew 119% YoY to Rs 5.36 billion with expanded margin at 10.1% (60 basis points QoQ) due to richer mix, price hike, cost control initiatives and benefit of operating leverage.

The company has taken a 2% price hike in Q3, 1% in Q4 and 1.6% in April 2021 to offset the raw material cost headwinds.

Management expects Q1 FY22 sales to be dampened due to the second wave of Covid-19 and lockdown in several states.

However, recovery will be sharp from Q2, post vaccination drive.

Click on the attachment to read the full report:

Dolat Capital TVS Motor Q4FY21 Result Update.pdf


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