NSE/TVSMOTOR

TVSMOTORTVS Motor Company Ltd

Automobile · NSE

₹3,735.8-0.57%

52-wk low52-WEEK RANGE52-wk high

₹2,475.25+50.9% from low ·-5.5% from high₹3,954.2

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

TVSMOTOR+50.93% · 1Y

Range high ₹3,970Range low ₹2,417.1Latest ₹3,735.8252 bars · daily-close · NSE bhavcopy + 10Y history

AutomobileAuto ManufacturersLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite75/100

Performance

High

Amongst the strong performers in the market.

· 52w return +36.6% — strong momentum
· Just above 200-DMA (+7.6%)

Valuation

High

Looks expensive vs the sector.

· P/E 81.9 — 162% above sector median 31.3
· P/B 22.03 above sector median

Growth

High

Growing faster than the broader market.

· Revenue YoY +31.7% — strong top-line
· Profit YoY +48.7% — strong earnings growth

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 26.9% — high-quality compounder
· Top quartile ROE in Automobile

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(48/100)

Durability

54/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score5/9 (56pt)
Altman Z" score1.72 (59pt)
Debt/Equity3.46 (10pt)
ROE26.9% (100pt)

Valuation

9/100

Richly valued on most axes; limited margin of safety.

Show 4 drivers

P/E vs sector (81.9 / 31.3)262% (8pt)
P/B22.03 (0pt)
Dividend yield0.32% (8pt)
EV/EBITDA27.5 (25pt)

Momentum

82/100

Strong, confirmed momentum across price + technicals.

Show 5 drivers

52w change+36.6% (87pt)
DMA-trend alignmentup (75pt)
RSI (14)55.6 (99pt)
Price vs 200-DMA+8.0% (76pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)81.87

OVERVALUED

CheapestP/E 81.9 at 94th %ile — pricier than 94% of peers.Most expensive

P/B22.03

OVERVALUED

CheapestP/B 22.03 at 100th %ile of sector.Most expensive

EV/EBITDA27.47

OVERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Sep +6.59% · Worst: Mar -2.22%

Jan

-0.5%

36% win

Feb

-0.8%

50% win

Mar

-2.2%

50% win

Apr

+5.1%

75% win

May

+1.9%

64% win

Jun

+3.6%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+2.23%

Median

+2.48%

Std dev

8.43%

Best

+20.6%

Worst

-31.7%

% positive

61%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 3

High-quality compounder (ROE 26.9%)
Above 20% ROE consistently flags capital-efficient businesses
Consistent top-line growth (20.1% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Top quartile ROE in Automobile
Rank 1 of 16 peers

WEAKNESSES · 2

Leveraged balance sheet (D/E 3.46)
High debt amplifies earnings volatility in downturns
Premium to sector on P/E (+162%)
P/E 81.9 vs Automobile median 31.3

OPPORTUNITIES · 0

No strong near-term catalysts visible

THREATS · 1

Valuation compression risk
P/E 81.9 is 162% above sector — any growth miss gets punished

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

-0.6%

-2.7%

+12.4%

-1.7%

+8.0%

+53.3%

+50.9%

+43.2%

10Y

+28.2%

Fundamentals

VALUATION

Market cap

₹1,78,775 Cr

P/E (TTM)

81.9

P/E (fwd)

40.7

next 12m

P/B

22.03

EV/EBITDA

27.5

Book value

₹170.79

per share

PROFITABILITY · QUALITY

ROE

26.9%

ROCE

—

Net margin

7.5%

Op margin

13.1%

Gross margin

37.9%

D/E

3.46

GROWTH · MARKET

Rev YoY

+31.7%

Profit YoY

+48.7%

Div yield

0.32%

Payout

21.7%

52w change

+36.6%

Beta

0.09

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Forward P/E materially below trailing (40.7x vs 81.9x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+High ROE of 26.9%Capital-efficient business — every rupee of equity generates 26.9 paise of earnings
+Revenue growing at +31.7% YoYGrowth-category territory — implies market-share gains or market expansion
+Profit growing fast (+48.7% YoY)Operating leverage kicking in — bottom line out-growing top line
+3-year revenue CAGR of 20.1%Sustained multi-year growth — not a one-quarter flash

CONS · 3

−Trades at a premium to sector on P/EP/E 81.9 vs Automobile median 31.3 — priced for more growth than peers
−Very high absolute P/E (82x)

Sector-relative context

Automobile · 16 peers

P/E (TTM)

This stock

81.87

Sector median

31.29

Rank 15/16 (13th %ile)

ROE

This stock

26.9%

Sector median

15.0%

Rank 16/16 (6th %ile)

P/B

This stock

22.03

Sector median

4.37

Rank 16/16 (6th %ile)

Quality score · Piotroski F-score

5 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✗Positive operating cash flow· Profits are backed by real cash, not accruals
✗Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✗ROA improved YoY· Getting more productive with the asset base
✗Operating margin expanded YoY· Pricing power or cost discipline
✓

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.72

Z″ = 1.72 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.197	×6.56	1.289
Retained Earnings / Total Assets (B)	0.121	×3.26	0.395
EBIT / Total Assets (C)	-0.016	×6.72	-0.107
Book Equity / Total Liabilities (D)	0.140	×1.05	0.147

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

36 analysts · BUY

Target mean

₹3935.56

Target high

₹4800.00

Target low

₹2285.00

Upside vs today

+4.6%

Street consensus target is +4.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Auto Manufacturers

Employees

6,522

Shares out

47.5

Revenue (TTM)

₹52,481 Cr

EBITDA

₹7,449 Cr

Total debt

₹31,589 Cr

Cash

₹5,332 Cr

Net debt

₹26,257 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	11,197	11,035	4,044	12,210	14,756
Operating profit	1,372	1,396	-4,185	1,499	1,947
OPM %	12.3%	12.7%	-103.5%	12.3%	13.2%
Interest	507

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	21,321	27,434	32,668	36,887
Operating profit	-433	-547	-581	-183
OPM %	-2.0%	-2.0%	-1.8%	-0.5%
Interest	883	1,356	1,906	2,083

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
TVSMOTORTHIS TVS Motor Company Limited	₹3,735.8	+36.6%	1,78,775	81.9	22.03	26.9%	3.46	+31.7%
MARUTI Maruti Suzuki India Limited	₹13,453	+14.5%	4,22,871	28.3	4.24	15.0%	0.00	+28.7%
M&M Mahindra & Mahindra Limited	₹3,200.2	+15.8%	3,86,838	23.0	4.34	18.9%	1.32	+26.4%
BAJAJ-AUTO Bajaj Auto Limited	₹9,773.5	+18.5%	2,73,751	30.9	8.01	26.0%	0.57	+23.1%
EICHERMOT Eicher Motors Limited	₹7,189.5	+23.7%	1,98,686	37.2	8.99	24.2%	0.02	+22.9%
MOTHERSON Samvardhana Motherson International Limited	₹125.03	-5.7%	1,29,734	38.0	3.52	9.3%	0.50	+14.5%
BOSCHLTD Bosch Limited	₹37,505	+34.9%	1,11,456	40.5	7.95	19.6%	0.01	+9.4%
HEROMOTOCO Hero MotoCorp Limited	₹5,230.5	+33.5%	1,05,697	19.4	5.03	25.9%	0.03	+21.7%
ASHOKLEY Ashok Leyland Limited	₹174.78	-21.3%	1,02,375	31.0	8.11	26.2%	3.28	+1.0%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	20.45	20.44	-0.1%
-2q	19.68	19.07	-3.1%
-3q	15.98	16.39	+2.6%
-4q	15.73	17.94	+14.0%

Date	Amount
2026-03-30	₹12.00
2025-03-26	₹10.00
2024-03-19	₹8.00
2023-02-02	₹5.00
2022-03-25	₹3.75
2021-03-30	₹1.40
2021-02-04	₹2.10
2020-03-17	₹1.40
2020-02-11	₹2.10
2019-03-18	₹1.40
2018-10-30	₹2.10
2018-03-06	₹1.30
2017-11-08	₹2.00
2017-03-14	₹1.25
2016-11-03	₹1.25

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	48	48	48	48
Reserves	3,285	4,315	5,529	7,106
Borrowings	15,827	22,376	26,006	28,609
Other liabilities	45	37	32	28
Total liabilities	27,127	35,233	42,220	47,937
Fixed assets	4,773	4,565	4,759	6,368
CWIP	395	387	464	879
Investments	110	365	483	565
Other assets	20	111	149	235
Total assets	27,127	35,233	42,220	47,937

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	-1,575	-4,405	-1,253	3,503
CF Investing	-1,471	-1,308	-1,481	-2,899
CF Financing	2,918	6,118	3,239	1,155
Net cash flow	-128	406	505	1,759
Free cash flow	-2,545	-5,746	-2,398	1,025

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	-0.5%	-1.8%	-2.0%	-2.0%
Net margin %	6.1%	5.2%	4.8%	3.5%
ROE %	35.1%	33.9%	34.5%	22.7%
ROCE %	16.6%	15.7%	14.3%	10.2%
Debt / Equity	4.00	4.66	5.13	4.75
Dividend payout %	21%	23%	18%	24%
Interest coverage	2.7×	2.4×	2.4×	2.2×
Revenue growth YoY	+12.9%	+19.1%	+28.7%	—
Profit growth YoY	+32.6%	+26.9%	+75.6%	—

TVSMOTORTVS Motor Company Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Automobile

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Automobile