TVS Motor Company's EBITDA increases from 8.1 per cent in Q3 of FY 2018-19 to 8.8 per cent in Q3 of FY 2019-20

TVS Motor Company's overall two-wheeler sales including exports is 7.73 lakh units during quarter ended December 2019 as against 9.50 lakh units in the quarter ended December 2018.

Motorcycle sales for the quarter under review is 3.25 lakh units in the quarter ended December 2019 as against 3.78 lakh units registered in the quarter ended December 2018. Scooter sales of the company are 2.80 lakh units in the quarter ended December 2019 as against 3.54 lakh units in the quarter ended December 2018.

Total three-wheeler sales grew by 22.1 per cent to 48,391 units in the quarter ended December 2019 from 39,629 units in the quarter ended December 2018.

The total export of the company grew by 22.6 per cent to 2.17 lakh units during the quarter ended December 2019 from 1.77 lakh units in the quarter ended December 2018.

Total revenue reported for the quarter ended December 2019 is Rs 4126.4 crores as against Rs 4664.6 crores reported for the quarter ended December 2018.

EBITDA per cent grew from 8.1 per cent in the quarter ended December 2018 to 8.8 per cent in the quarter ended December 2019. EBITDA for the quarter ended December 2019 is Rs 363.3 crores as against Rs 375.7 crores reported for the quarter ended December 2018.

The company had, in the previous quarter, reversed the provision of Rs 76.04 crores towards National Calamity Contingent Duty (NCCD) based on a favourable ruling by CESTAT in the company's case. Following the ruling given in the current quarter by the Supreme Court that NCCD is leviable, the company, as a prudent measure, has reinstated the provision of Rs 76.04 crores as an "exceptional item".

Profit before Tax (PBT) for the quarter ended December 2019 before considering the exceptional item is Rs 221.8 crores as against Rs 258.5 crores for the quarter ended December 2018. PBT for the quarter ended December 2019 after the exceptional item is Rs Rs 145.7 crores.

Profit after Tax (PAT) for the quarter ended December 2019 before considering the exceptional item is Rs 184.2 crores as against Rs 178.4 crores reported for the quarter ended December 2018. PAT for the quarter ended December 2019 after the exceptional item is Rs 121.1 crores.

Cumulative of nine months results

The total two-wheeler sales of the Company including exports is 24.99 lakh units during the nine months ended December 2019 as against 28.92 lakh units in the nine months ended December 2018.

Total three-wheelers sales grew by 13.9 per cent to 1.31 lakh units in the nine months ended December 2019 from 1.15 lakh units in the nine months ended December 2018.

The total export of the company grew by 12.5 per cent to 6.37 lakh units during the nine months ended December 2019 from 5.66 lakh units in the nine months ended December 2018.

Total revenue reported for the nine months ended December 2019 is Rs 12948.9 crores as against Rs 13829.9 crores reported for the nine months ended December 2018.

The company's Profit before Tax (PBT) for the nine months ended December 2019 is Rs 664.6 crores as against Rs 777 crores during nine months ended December 2018.

Profit after Tax (PAT) for the nine months ended December 2019 is Rs 518.4 crores against Rs 536.3 crores reported for the nine months ended December 2018.

In a planned and systematic manner, the company has completely transitioned production to BS-VI vehicles for the domestic market.

The 2020 range of BS-VI TVS vehicles is equipped with improved fuel economy, 90 per cent reduction in emission, enhanced driveability in all conditions and many first in class features.

Equipped with RT-Fi and ET-Fi technology, these BS-VI vehicles offer enhanced connectivity, along with first in segment GTT - Glide Through Traffic capability and LED headlamp among others.

Accolades

Venu Srinivasan, Chairman, TVS Motor Company has been named as one of the recipients of Padma Bhushan Award this year, to be conferred by the President of India.

Venu Srinivasan was also conferred with the prestigious Deming 'Distinguished Service Award for Dissemination and Promotion Overseas' sponsored by the Japanese Union of Scientists and Engineers (JUSE). He becomes the first industrialist from India to be bestowed with this award for his contributions in the field of Total Quality Management (TQM).

New launches

TVS Motor Company forayed into electric mobility with the launch of connected and advanced technology scooter, TVS iQube Electric. The company recently launched the BS-VI TVS Apache RTR (4V & 2V series), and TVS Apache RR 310 with next-generation technology. The flagship scooter brand TVS Jupiter, TVS StaR City+ and TVS XL have all transitioned to BS-VI.

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