TVS Motor Q2 Review - Operating Performance In Line; Highest Revenue, Ebitda: Motilal Oswal
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.
Motilal Oswal Report
TVS Motor Company's operating performance was in line, though higher depreciation and interest resulted in lower PAT. The management’s focus is on expanding EV capacity, its portfolio and reach, along with the creation of a wholly-owned subsidiary for EVs.
We maintain our FY22E/FY23E EPS estimate and Neutral rating, with a target price of Rs 635 per share, as valuations fairly capture expected strength in earnings growth and risk an EV disruption to its Scooter business.
Click on the attachment to read the full report:
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.