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    TVS Motor Company Limited

    World's No.4 two-wheeler maker; motorcycles, scooters, mopeds & three-wheelers across 90+ countries

    Automobile and Auto Components
    Consumer Discretionary
    View TVSMOTOR earnings calls
    ₹3,442.9
    -1.77% from avg

    Overview

    Price

    ₹3,442.9

    Market Cap

    ₹1.9L Cr

    Sector

    Automobile and Auto Components

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital4848484848484848
    Reserves3.2k3.8k4.4k5.5k6.7k8.5k8.1k9.5k
    Borrowings11.6k12.2k15.8k22.4k26.0k28.6k31.6k32.8k
    Other Liabilities4.4k5.9k6.7k7.1k9.2k10.5k12.2k13.8k
    Total Liabilities19.3k21.9k26.9k35.0k42.0k47.7k51.9k56.1k
    AssetsFixed Assets3.8k4.2k6.0k5.7k5.9k7.6k9.1k8.6k
    CWIP1.0k1.0k5527431.0k1.5k7012.1k
    Investments3714686059671.1k1.2k1.3k1.1k
    Other Assets14.1k16.1k19.8k27.6k34.0k37.3k40.8k44.3k
    Total Assets19.3k21.9k26.9k35.0k42.0k47.7k51.9k56.1k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating-9183731.2k-1.6k-4.4k-1.3k3.5k1.9k
    Cash from Investing-1.1k-1.1k-882-1.5k-1.3k-1.5k-2.9k-3.0k
    Cash from Financing2.2k1.6k2642.9k6.1k3.2k1.2k909
    SummaryCapital Expenditure
    Free Cash Flow-2.0k-617227-2.5k-5.7k-2.4k1.0k-1.3k
    FCF Margin

    Valuation

    Assumptions

    Current — TVSMOTOR
    Price
    ₹3,443
    EPS (TTM)
    ₹69.57
    PE (TTM)
    49.5
    Profit growth
    34.5%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (57.6×) and current (49.5×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹3,443
    vs
    Fair value · 15% return
    ₹7,190
    109%Undervalued

    At 34.5% growth and a 49× exit, ₹3443 only delivers your return if you pay ₹7,190. The price is currently baking in 18% growth.

    EPS grows 34.5%/yr for 5 years, then fades to 6% over 2, exits at 49×.

    YearGrowthEPS (₹)
    FY2734.5%93.57
    FY2834.5%125.85
    FY2934.5%169.27
    FY3034.5%227.67
    FY3134.5%306.22
    FY3220.3% ·fade368.23
    FY336.0% ·fade390.32

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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