Results for: TVS Motor

TVS Motor Company’s shares witnessed a significant rise of over 6% after the company reported a 15% jump in its consolidated net profit for the fourth quarter ended March 2024. The stock’s value surged by 5.73% to ₹ 2,121.30 on the BSE and 6.32% to ₹ 2,123 on the NSE. The company attributed this growth to a 22% increase in overall two-wheeler and three-wheeler sales, including exports, which reached 10.63 lakh units compared to 8.68 lakh units in the same period of the previous fiscal. For the full year ended March 31, 2024, TVS Motor’s consolidated net profit climbed by 26.9% to ₹ 1,686 crore, while its revenue from operations grew by 22.4% to ₹ 39,145 crore.

Amidst ongoing industry recovery, TVS Motor Company has emerged as a leading player in the premium two-wheeler segment, capturing significant market share. Despite this growth, the company’s share price has fallen from its peak by 15%, prompting analysts to maintain a ‘Buy’ rating with a revised target price of 2,250. This decline is attributed to broader market trends, including a slowdown in passenger vehicles and a potential downturn in commercial vehicles, which offsets the positive outlook for two-wheelers.