TVS MOTOR COMPANY LIMITED
Q1 FY2011 & FY2010 RESULTS
COMPARISON
TVS MOTOR COMPANY LIMITED has announced highly improved results for Q1 FY2011 compared to Q1 FY2010 and also for FY2010 compared to FY 2009.
=NON CONSOLDIATED FIGURES COMPARISON=
Net Sales for FY2010 has improved by 18.9% to Rs.4363 cr compared to FY2009 (Rs.3671 Cr). The same for Q1 FY2010 was Rs.976 Cr, compared to Rs.1370 Cr in Q1 FY2011, representing an increase of 40.4%.
Consumption of Raw Materials has gone up by 13.3% to Rs.3019 Cr in FY2010 compared to Rs.2664 Cr in FY2009. The same for Q1 FY2010 was Rs.668 cr compared to Rs.1016 Cr, in Q1 FY2011, an increase of 51.9%
Other Expenditure has gone up by 39.7% in FY2010 to Rs.788 Cr from Rs.564 Cr in FY2009. The same for Q1 FY2010 was Rs.158 Cr compared to Rs.216 Cr in Q1 FY2011, an increase of 36.5%.
Total Expenditure has gone UP in FY 2010 BY 16.2% to Rs.4244 Cr from Rs.3652 cr in FY2009. The same for Q1 FY2010 was Rs.952 Cr compared to Rs.1330 Cr in Q1 FY2011, an increase of 39.7%
Profit from Operations in FY 2010 is Rs.186 Cr. The same for Q1 FY2010 was Rs.36.85 Cr compared to Rs.63.31 Cr in Q1 FY2011, an increase of 71.8%
Net Profit is Rs.88 Cr in FY2010 up by 183.2% from Rs.31 Cr. Net Profit in Q1 FY2010 was Rs.18.12 Cr compared to Q1 FY 2011’s figure of Rs.40.38 Cr, which represents an increase of a huge 122.8%
Dividend. is 120% for FY2010 – on the Face Value of Rs.1.
Paid-up Equity remains unchanged at Rs.23.75 Cr
Reserves are at Rs.842 Cr.
Basic EPS during the year FY2010 is Rs.3.71 on FV of Rs.1 – compared to Rs. 1.31 in FY2009, representing an increase of 183.2% YOY. The same in Q1 FY 2010 was Rs.0.76, which has increased to Rs. 1.7 in Q1 FY2011, an increase of 123.7%.
In FY 2010, the EPS in the 4 Qtrs was = 0.85 for q4, .99 for Q3, 1.03 for Q2 and .76 for Q1. Which was consistent and better than FY 2009. On top of this comes Q1 FY2011 EPS of Rs.1.7. The Current year EPS (FY 2011) could be around 6.8, if the Q’ly EPS remains at this level of 1.7 or improves further.
MARKET PRICE : The 52 week High is Rs.137.25 and 52 W low is Rs.44.70. Current price is Rs.128.On the estimated EPS of Rs.6.8, this yields a PE Ratio of 18.82.
BONUS : Taking into account the improved results and the buoyancy in the Market conditions, the company has declared Bonus in the ratio of ! : 1.
WHAT COMPANY SAYS :
Speaking on the quarter gone by, the TVS Motor management said that material cost have gone up significantly in the quarter gone by. They see it falling going forward. "We will look at price increase in case commodity prices rise further to make sure that the margins are protected."
The management said that their existing brands - Wego and Jive are likely to sustain current growth.
TVS Motor is targeting huge growth in both domestic sales and in exports this fiscal and is increasing capacity for the purpose. It expects its Motor cycle sales to improve well in FY2011 and gain market share.
The company's three-wheeler sales continue to remain strong. TVS has entered the three-wheeler market in Nigeria and Peru. "MAX 4R will be launched for the rural market by July end."
RESULTS IN FIGURES :
dif%1 | FY2010N-C | dif%2 | ||||
97562.51 | 136956.85 | 40.4 | Net Sales | 436310.5 | 367092 | 18.9 |
1307.24 | 2339.28 | 78.9 | Other OptgIncome | 6702.86 | - | |
3111.35 | -2031.66 | -165.3 | SIT&WIP | 194.61 | 6056 | -96.8 |
66849.15 | 101553.14 | 51.9 | Raw Materials | 301879.2 | 266395 | 13.3 |
1601.73 | 1862.75 | 16.3 | Traded goods | 8149.06 | 5561 | 46.5 |
5233 | 7291 | 39.3 | Employees Cost | 25125.51 | 20452 | 22.9 |
2541.87 | 2659.15 | 4.6 | Depreciation | 10252.84 | 10288 | -0.3 |
15847.63 | 21631.09 | 36.5 | Other Expenditure | 78845.34 | 56428 | 39.7 |
95184.73 | 132965.47 | 39.7 | Total Expenditure | 424446.6 | 365180 | 16.2 |
3685.02 | 6330.66 | 71.8 | Profit.Operations | 18566.83 | ||
31.05 | 411.11 | 1224 | Other Income | 39.24 | ||
3716.07 | 6741.77 | 81.4 | P B I EI | 18606.07 | ||
1712.08 | 1695 | -1 | Interest | 6316.71 | ||
2003.99 | 5046.77 | 151.8 | P A I B B EI | 12289.36 | ||
- | - | Excepti. items | 4671.89 | |||
2003.99 | 5046.77 | 151.8 | P B T | 7617.47 | 3110 | 144.9 |
192 | 1009 | 425.5 | Tax Expense | -1184.25 | 2 | -59312.5 |
1811.99 | 4037.77 | 122.8 | P A T | 8801.72 | 3108 | 183.2 |
- | - | Extrao.Items | - | - | ||
1811.99 | 4037.77 | 122.8 | Net Profit | 8801.72 | 3108 | 183.2 |
Consolidated Net Profit | ||||||
- | - | Dividend.% | 120 | - | ||
1 | 1 | 0 | Face Value.Rs | 1 | 1 | 0 |
2375 | 2375 | 0 | Paid-up Equity | 2375 | 2375 | 0 |
- | - | Reserves | 84154.51 | 78641 | 7 | |
0.76 | 1.7 | 123.7 | Basic EPS B EI | 3.71 | 1.31 | 183.2 |
39.55 | 39.55 | 0 | Public holding.% | 39.55 | 42.6 | -7.2 |
ANNOUNCEMENTS
TO THE EXCHANGE
21-07-2010 Tvs Motor Company Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on July 21, 2010 declared second interim dividend of Re.0.50 per share (50%) absorbing a sum of Rs.13.41 crores including dividend distribution tax for the year 2009-10. This will be paid to the shareholders on or after August 04, 2010. The board earlier declared first interim dividend of Re.0.70 per share (70%) absorbing a sum of Rs.19.46 crores including dividend distribution tax for the year 2009-10 and the same was paid on January 29, 2010. The total dividend including the second interim dividend for the year ended March 31, 2010 will aggregate to Rs.1.20 per share (120%) on 23,75,43,557 equity shares of Re.1/- each. The directors do not recommend any further dividend for the year 2009-10.
21-07-2010 Tvs Motor Company Limited has informed the Exchange regarding a press release dated July 21, 2010, titled "TVS Motor Company Q1 Revenue Grows 41%".
21-07-2010 Tvs Motor Company Limited has informed the Exchange that the Board of Directors at its meeting held on July 21, 2010 has recommended issue of bonus equity shares to the shareholders of the Company in the ratio of one bonus equity share of Re. 1/- each for every one equity share of Re. 1/- each (in the ratio of 1:1) held by them as on the record date to be fixed later, by capitalizing equivalent amount standing to the credit of the general reserves of the Company, for approval of the shareholders of the Company through Postal Ballot. -
21-07-2010 TVS Motor Company Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 454364 lacs for year ending on 31-MAR-2010 against Rs. 374672 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 3352 lacs for the year ending on 31-MAR-2010 against Rs. (6320) lacs for the year ending on 31-MAR-2009.
21-07-2010 TVS Motor Company Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 436310.53 lacs for year ending on 31-MAR-2010 against Rs. 367092 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 8801.72 lacs for the year ending on 31-MAR-2010 against Rs. 3108 lacs for the year ending on 31-MAR-2009.
21-07-2010 TVS Motor Company Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 136956.85 lacs for quarter ending on 30-JUN-2010 against Rs. 97562.51 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 4037.77 lacs for the quarter ending on 30-JUN-2010 against Rs. 1811.99 lacs for the quarter ending on 30-JUN-2009.
13-07-2010 News Verification : The media had reports that the Company may buy assets of LML Ltd. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. TVS Motor Company Limited has vide its letter inter-alia stated," We confirm that as on date our Company does not have any plans to buy assets of LML." -
21-04-2010 Tvs Motor Company Limited has informed the Exchange regarding a press release dated April 21, 2010, titled "TVS Motor registers revenues of Rs.4424 crores, growing 18.4% in FY '09-'10".
08-03-2010 Tvs Motor Company Limited has informed the Exchange vide its letter dated March 06, 2010 that "TVS Motor Company Limited (TVSM) has been contemplating an aggressive approach to improve market for its two wheelers. Its new launches and innovations in the 2-wheeler sector have resulted in improvement of sales and have paved way for greater penetration into the motorcycles market and soon the scooter market. Towards this end, TVSM has been evolving ideas to have a robust retail finance arm”
26-02-2010 TVS Motor Company Limited has informed the Exchange that "The Company has earlier made an investment of Rs.5 lakhs in M/s TVS Energy Limited, its wholly owned subsidiary. The same was informed by way of notes to the unaudited financial results submitted for the Quarter Ended 31st December 2009. Further, the Company has now made additional investment of Rs.37.45 Cr in the equity capital of M/s TVS Energy Limited".
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