TVS Motor Q3 Beat Driven By Price Hike, Favourable Mix, Better Cost Management: 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 Ltd.’s operating performance was driven by price hikes, a favourable mix, and lower other expenses. Good volume recovery, price hikes, and a continued focus on cost management would support profitability.
Q3 FY21 revenue /Ebitda /adjusted profit after tax grew 31%/41%/47% to Rs 53.9 billion/Rs 5.1 billion/Rs 2.6 billion.
Nine months FY21 revenue /Ebitda /APAT contracted 11.7%/18.9%/3.8% to Rs 114 billion/Rs 8.9 billion/Rs 3.2 billion.
Net sales grew 31% YoY to Rs 53.9b as volumes increased 20.4% YoY, and realizations grew 8.5% YoY (up 2.7% QoQ) to Rs 54,500 (versus estimate Rs 53,400).
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.