TVS Motor Inching Closer To Double Digit Margin: Centrum Broking
TVS Motor Company employees work on the vehicle production line. (Photographer: Dimas Ardian/Bloomberg News)

TVS Motor Inching Closer To Double Digit Margin: Centrum Broking

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.

Centrum Broking Report

After losing 100 basis points YoY of market share in FY20 in domestic two wheelers, due to underperformance of its motorcycle and moped sales, TVS Motor Company Ltd. has recovered most of it in FY21 with the help of mopeds sales amid strong rural recovery.

While motorcycles continue to underperform, the company has gained further market share in scooters.

As schools, colleges and offices are expected to open up in FY22, we see scooters catching up the revival.

Even, two-wheeler exports have seen a sharp recovery, and sales are now up 3% in year-to-date FY21. Similarly, three-wheeler exports have also recovered well.

Click on the attachment to read the full report:

Centrum TVS Motor - Company Update .pdf

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