TVS Motor Company Ltd (TVSMOTOR) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.20%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 20.5%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 33.6%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹4,400.40

200-Day DMA ● Overlay

₹4,081.20

14-Day RSI ● Overlay

56.2 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.91 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

54.2x

Price / EPS

Book Value (₹) Assets

₹201.0

P/B: 20.4x

ROE (%) Quality

33.6%

Net Profit / Equity

ROCE (%) Efficiency

17.4%

EBIT / Capital

Dividend Yield Yield

0.30%

Face Value: ₹10

Debt / Equity Solvency

3.43x

Manageable

EPS (TTM) Per Share

₹74.25

Trailing 12M

OPM (%) Spread

15.0%

EBITDA Margin

Free Cash Flow Cash

-₹1,280 Cr

CFO - Capex

About TVS Motor Company Ltd

TVS Motor Company Ltd (TVSMOTOR) is a leading Indian enterprise operating in the Automobile sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 10.8% × Turnover: 0.85x × Leverage: 4.43x = ROE: 33.6%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 33.6%).
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 3.43x.
• Stock is trading at a premium of 20.4x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹60,155 Cr

Latest PAT

₹3,601 Cr

EPS (TTM)

₹74.25

OPM %

15.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹13,986 Cr	₹14,588 Cr	₹15,340 Cr	₹15,941 Cr
Operating Profit (EBITDA)	₹2,014 Cr	₹2,159 Cr	₹2,332 Cr	₹2,487 Cr
OPM %	14.4%	14.8%	15.2%	15.6%
Interest Expense	₹161.12 Cr	₹172.72 Cr	₹186.53 Cr	₹198.94 Cr
Depreciation	₹241.68 Cr	₹259.08 Cr	₹279.79 Cr	₹298.42 Cr
Profit before Tax (PBT)	₹1,611 Cr	₹1,727 Cr	₹1,865 Cr	₹1,989 Cr
Net Profit (PAT)	₹1,208 Cr	₹1,295 Cr	₹1,399 Cr	₹1,492 Cr
EPS in ₹	₹19.58	₹20.42	₹21.47	₹22.32

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹22,859 Cr	₹25,867 Cr	₹29,476 Cr	₹33,687 Cr	₹38,499 Cr	₹41,507 Cr	₹44,515 Cr	₹51,733 Cr	₹55,944 Cr	₹58,952 Cr	₹60,155 Cr	₹62,561 Cr
Expenses	₹19,842 Cr	₹22,297 Cr	₹25,290 Cr	₹28,566 Cr	₹32,532 Cr	₹35,530 Cr	₹37,303 Cr	₹43,559 Cr	₹47,776 Cr	₹50,109 Cr	₹50,951 Cr	₹52,864 Cr
Operating Profit	₹3,017 Cr	₹3,570 Cr	₹4,186 Cr	₹5,120 Cr	₹5,967 Cr	₹5,977 Cr	₹7,211 Cr	₹8,174 Cr	₹8,168 Cr	₹8,843 Cr	₹9,204 Cr	₹9,697 Cr
OPM %	13.2%	13.8%	14.2%	15.2%	15.5%	14.4%	16.2%	15.8%	14.6%	15%	15.3%	15.5%
Interest	₹211.22 Cr	₹249.87 Cr	₹292.99 Cr	₹358.43 Cr	₹417.72 Cr	₹418.39 Cr	₹504.80 Cr	₹572.17 Cr	₹571.75 Cr	₹618.99 Cr	₹644.26 Cr	₹678.79 Cr
Depreciation	₹362.08 Cr	₹428.35 Cr	₹502.27 Cr	₹614.45 Cr	₹716.09 Cr	₹717.24 Cr	₹865.37 Cr	₹980.86 Cr	₹980.14 Cr	₹1,061 Cr	₹1,104 Cr	₹1,164 Cr
Profit before Tax	₹2,716 Cr	₹3,213 Cr	₹3,767 Cr	₹4,608 Cr	₹5,371 Cr	₹5,379 Cr	₹6,490 Cr	₹7,356 Cr	₹7,351 Cr	₹7,959 Cr	₹8,283 Cr	₹8,727 Cr
Net Profit	₹2,037 Cr	₹2,409 Cr	₹2,825 Cr	₹3,456 Cr	₹4,028 Cr	₹4,034 Cr	₹4,868 Cr	₹5,517 Cr	₹5,513 Cr	₹5,969 Cr	₹6,213 Cr	₹6,545 Cr
EPS in Rs	32.00	36.21	41.26	47.16	53.89	58.11	62.32	72.42	78.32	82.53	84.21	87.58

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹2,008 Cr	₹2,295 Cr	₹2,697 Cr	₹3,156 Cr	₹3,615 Cr	₹4,017 Cr	₹4,361 Cr	₹4,820 Cr	₹5,222 Cr	₹5,566 Cr	₹5,738 Cr
Reserves & Surplus	₹26,108 Cr	₹29,837 Cr	₹35,059 Cr	₹41,026 Cr	₹46,994 Cr	₹52,215 Cr	₹56,691 Cr	₹62,658 Cr	₹67,880 Cr	₹72,356 Cr	₹74,593 Cr
Borrowings (Debt)	₹89,549 Cr	₹1.02 Lakh Cr	₹1.20 Lakh Cr	₹1.41 Lakh Cr	₹1.61 Lakh Cr	₹1.79 Lakh Cr	₹1.94 Lakh Cr	₹2.15 Lakh Cr	₹2.33 Lakh Cr	₹2.48 Lakh Cr	₹2.56 Lakh Cr
Total Liabilities	₹50,207 Cr	₹57,380 Cr	₹67,421 Cr	₹78,897 Cr	₹90,373 Cr	₹1.00 Lakh Cr	₹1.09 Lakh Cr	₹1.20 Lakh Cr	₹1.31 Lakh Cr	₹1.39 Lakh Cr	₹1.43 Lakh Cr
Fixed Assets	₹24,099 Cr	₹27,542 Cr	₹32,362 Cr	₹37,870 Cr	₹43,379 Cr	₹48,199 Cr	₹52,330 Cr	₹57,839 Cr	₹62,658 Cr	₹66,790 Cr	₹68,855 Cr
Total Assets	₹50,207 Cr	₹57,380 Cr	₹67,421 Cr	₹78,897 Cr	₹90,373 Cr	₹1.00 Lakh Cr	₹1.09 Lakh Cr	₹1.20 Lakh Cr	₹1.31 Lakh Cr	₹1.39 Lakh Cr	₹1.43 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹4,476 Cr	₹5,097 Cr	₹5,967 Cr	₹6,713 Cr	₹7,708 Cr	₹8,454 Cr	₹9,324 Cr	₹10,567 Cr	₹11,438 Cr	₹12,184 Cr	₹12,432 Cr
Cash from Investing (CFI)	-₹2,775 Cr	-₹3,160 Cr	-₹3,700 Cr	-₹4,162 Cr	-₹4,779 Cr	-₹5,241 Cr	-₹5,781 Cr	-₹6,552 Cr	-₹7,091 Cr	-₹7,554 Cr	-₹7,708 Cr
Cash from Financing (CFF)	-₹1,432 Cr	-₹1,631 Cr	-₹1,910 Cr	-₹2,148 Cr	-₹2,467 Cr	-₹2,705 Cr	-₹2,984 Cr	-₹3,382 Cr	-₹3,660 Cr	-₹3,899 Cr	-₹3,978 Cr
Free Cash Flow (FCF)	₹2,256 Cr	₹2,569 Cr	₹3,008 Cr	₹3,384 Cr	₹3,885 Cr	₹4,261 Cr	₹4,699 Cr	₹5,326 Cr	₹5,765 Cr	₹6,141 Cr	₹6,266 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	15.4%	15.8%	16.2%	16.6%	17%	17.4%	17.8%	18.2%	18.6%	19%	19.4%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,134.00 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹4,560.00

DCF Fair Value

₹1,134.00

Graham Number

₹579.48

Margin of Safety

-80.6%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,134.00

Premium / Overvalued (Margin: -80.6%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,104	₹1,094	₹1,084	₹1,074
10%	₹1,124	₹1,114	₹1,104	₹1,094
12%	₹1,144	₹1,134	₹1,124	₹1,114
14%	₹1,165	₹1,154	₹1,144	₹1,134

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,134	Fairly Valued
Benjamin Graham Number	₹579	Market Priced
Historical Sector P/E	₹1,634	Premium
EV / EBITDA Multiplier	₹4,788	In-Line
Free Cash Flow Yield Model	₹4,469	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

3.03 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 3.43x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 15.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

50.27%

FIIs (Foreign)

20.45%

DIIs (Domestic)

21.12%

Government

0.15%

Public / Retail

8.12%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	50.75%	50.63%	50.51%	50.39%	50.27%	50.15%	50.03%	49.91%
• Promoter & Promoter Group Family Trusts	24.13%	24.13%	24.13%	24.13%	24.13%	24.13%	24.13%	24.13%
• Operating Holding Companies & LLPs	19.10%	19.10%	19.10%	19.10%	19.10%	19.10%	19.10%	19.10%
• Key Executive Promoters (Individual)	7.04%	7.04%	7.04%	7.04%	7.04%	7.04%	7.04%	7.04%
+ FIIs (Foreign Portfolio)	20.16%	20.23%	20.31%	20.38%	20.45%	20.52%	20.59%	20.67%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	20.93%	20.98%	21.02%	21.07%	21.12%	21.17%	21.22%	21.26%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	8.01%	8.01%	8.01%	8.01%	8.01%	8.01%	8.01%	8.01%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Automobile.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

TVSMOTOR Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

TVSMOTOR Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

TVSMOTOR Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹5,836.80

Accelerated market share capture in Automobile, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹5,107.20

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 54x P/E.

🐻 Bear Case (15%) -12.0%

₹4,012.80

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Automobile)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:56 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ TVS Motor Company Ltd (TVSMOTOR)	Target Stock	₹4,560.00	+1.20%	54.2x	33.6%	17.4%	3.43	₹1.91 Lakh Cr
Maruti Suzuki India Ltd (MARUTI)	Passenger Vehicles	₹13,185.00	+1.99%	24.8x	14.3%	18.9%	0.00	₹3.56 Lakh Cr
Mahindra & Mahindra Ltd (M&M)	SUVs, Tractors & Commercial	₹3,465.00	+5.30%	18.6x	20.3%	15.1%	1.47	₹3.56 Lakh Cr
Tata Motors Ltd (TATAMOTORS)	Commercial & Electric Vehicles (JLR)	₹418.10	-0.84%	10.8x	48.5%	21.5%	1.45	₹3.55 Lakh Cr
Bajaj Auto Ltd (BAJAJ-AUTO)	Two & Three Wheelers	₹11,040.00	+0.56%	23.4x	29.2%	28.2%	0.58	₹2.75 Lakh Cr
Eicher Motors Ltd (EICHERMOT)	Royal Enfield & Commercial Trucks	₹7,592.00	-0.48%	31.7x	24.0%	30.5%	0.02	₹1.90 Lakh Cr
Samvardhana Motherson Intl (MOTHERSON)	Sector Peer	₹169.69	+4.81%	36.2x	11.2%	13.4%	0.47	₹1.65 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:56:07 IST	✓ Live Sync
Financial Statements (10Y)	TVS Motor Company Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

TVS Motor Company Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About TVS Motor Company Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Automobile)

Metric Explainer

Stock DNA Methodology

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