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TVS Motor hits the roof on stellar Q4 performance

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TVS Motor Company hit an upper circuit of 15% at Rs 651.20 after the company's standalone net profit surged 292% to Rs 289 crore in Q4 FY21 from Rs 74 crore in Q4 FY20.

Revenue from operations grew by 53% at Rs 5,322 crore for the quarter under review against Rs 3,481 crore reported in the fourth quarter of 2019-20. Profit before tax in Q4 March 2021 stood at Rs 387 crore, up by 331% from Rs 90 crore in Q4 March 2020.

The overall two-wheeler and three-wheeler sales including exports registered a growth of 47% at 9.28 lakh units in the quarter ended March 2021 as against 6.33 lakh units registered in the quarter ended March 2020.

While the company's motorcycle sales registered a growth of 54% at 4.31 lakh units, scooter sales increased by 78% to 2.98 lakh units in Q4 FY21 over Q4 FY20.

Three-wheeler sales for the quarter under review is 0.41 lakh units as against 0.43 lakh units during fourth quarter of 2019-20.

The company reported operating EBITDA of Rs 536 crore for the fourth quarter recording a growth of 119% as against Rs 245 crore in fourth quarter of 2019-20. Operating EBITDA margin for the quarter was at 10.1% against 7% reported in fourth quarter of 2019-20.

On a consolidated basis, the company's net profit jumped 318.8% to Rs 310.05 crore on 49.4% rise in net sales to Rs 6131.90 crore in Q4 FY21 over Q4 FY20.

Consolidated net profit rose 4.86% to Rs 594.26 crore on 3.03% rise in net sales Rs 19,420.82 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

During the year, focused working capital management and improved operating performance helped the company to generate free cash flow of Rs 1,887 crore. These proceeds are used to reduce the debt. Lean stock with the dealers also helped to unleash the blocked working capital across the supply chain.

The board of directors of the company have declared the second interim dividend of Rs 1.40 per share for the year 2020-21.

TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 28 2021. 10:19 IST