TVS MOTOR CO = Q3 FY 2011 RESULTS = QTR ENDING DECEMBER 2010 = NET PROFIT UP A HUGE 137% = FUTURE EVEN MORE PROMISING

TVS Motor Company Limited

NSE Symbol   TVSMOTOR

TVS MOTOR COMPANY has produced excellent Results for the 3^rd quarter ending Dec,2010.

NET SALES : is Rs.1613 Cr – up by 1.49% from Q2; Up by 17.81% from Q1; Up by 35.31% from Q4 of FY 10; and up by a huge 50.42% from Q3 of FY 10.

PROFIT FROM OPERATIONS : is Rs.73 Cr – down by 8.5% from Q2; Up by    14.79% from Q1; Up by        38.25% from Q4 of FY10; and up by a HUGE 70.85% from Q3 of FY10.

NET PROFIT :  is Rs.56 Cr – up by 1.77% from Q2; Up by 38.07% from Q1; up by 174.72% from Q4 of FY10; and up by a fantastic 136.91% from Q3 of FY10.

Paid Up Equity   has increased to Rs.47.51 cr from the earlier Rs.23.75 Cr – because of a 1 : 1 Bonus issue.

Basic EPS is Rs.1.17 on the enhanced equity against Rs.0.99 in Q3 of FY10 on the lower equity – which means the earnings are much more than 100%.

The Results for Q3 are thus excellent in all respects. TVS Motor company is expected to improve its sales further in coming months - expand capacities further and clock much better results as well in coming quarters.

RESULTS IN NUMBERS :

TVS MOTOR CO	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Net Sales	161346	158983	136956.85	119241.41	107262.2
DIF %1	1613	1.49	17.81	35.31	50.42
Other Opertng Income	3319	2641	2339.28	2357.91	1682.99
Increase/decrease in SIT & WIP	-6590	-4473	-2031.66	691.5	-5.25
Raw Materials	124038	118758	101553.14	80428.96	74672.74
Traded Goods	3013	2872	1862.75	2346.93	2113.46
Employees Cost	8680	8473	7291	7733.87	6271.97
Depreciation	2793	2798	2659.15	2626.9	2530.18
Other Expenditure	25464	25254	21631.09	22514.72	19108.69
Total Expenditure	157398	153682	132965.47	116342.88	104691.79
Profit from Operations	7267	7942	6330.66	5256.44	4253.4
DIF %2	73	-8.5	14.79	38.25	70.85
Other Income	723	258	411.11	442.58	90.2
Interest	961	1423	1695	1228.97	1803.4
Tax expense	1454	1299	1009	-1378	187
Net Profit	5575	5478	4037.77	2029.35	2353.2
DIF %3	56	1.77	38.07	174.72	136.91
Face Value (In Rs	1	1	1	1	1
Paid Up Equity	4751	4751	2375	2375	2375
Basic EPS	1.17	1.15	1.7	0.85	0.99
Public Shareholding (%)	40.69	40.69	39.55	39.55	39.55

ANNOUNCEMENTS

TO THE EXCHANGE

20-01-2011    Tvs Motor Company Limited has informed the Exchange that the interim dividend declared at their board meeting held on January 20, 2011 will be paid on February 01, 2011.

20-01-2011    Tvs Motor Company Limited has informed the Exchange that the directors at their meeting held on January 20, 2011 have declared an interim dividend for the financial year ending March 31, 2011 at Re.0.50 per share.    

20-01-2011    Tvs Motor Company Limited has informed the Exchange regarding a press release dated January 20, 2011, titled "TVS Motor Company Revenue Grows 51% in Q3".

20-01-2011    TVS Motor Company Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 161346 lacs for quarter ending on 31-DEC-2010 against Rs. 107262.2 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 5575 lacs for the quarter ending on 31-DEC-2010 against Rs. 2353.2 lacs for the quarter ending on 31-DEC-2009.   -

10-01-2011    Tvs Motor Company Limited has informed the Exchange that the Company has fixed January 27, 2011 as the record date for the purpose of interim dividend, if declared at the Board Meeting to be held on January 20, 2011.       -

21-10-2010    Tvs Motor Company Limited has informed the Exchange regarding a press release dated October 21, 2010, titled "TVS Motor Company Q2 Revenue Grows 43%".

30-08-2010    Tvs Motor Company Limited has informed the Exchange that the Board of Directors at their meeting held on July 21, 2010 recommended the issue of bonus equity shares in the ratio of 1:1, subject to the approval of the shareholders through the Postal Ballot process. The shareholders of the Company have approved the proposal by way of ordinary resolutions for issue of bonus equity shares in the ratio of one new equity share of Re.1/- each for every one equity share of Re.1/- each through the postal ballot, held on August 30, 2010 by capitalizing an equivalent amount from the general reserves of the Company. Further the Company has fixed September 09, 2010 as the Record Date for determining the shareholders eligible to receive the said bonus equity shares of the Company.

FURTHER DETAILS OF THE Q3 PERFORMANCE:

Total two-wheeler sales of the company grew at 39% in the third quarter, increasing from 3.72 lakh units in the third quarter of the previous year to 5.18 lakh units in the current quarter.

Motorcycle sales grew at 40% from 1.51 lakh units in the quarter ended December 2009 to 2.11 lakh units in the reporting quarter. Scooters continued its upward growth, increasing by 64% from 0.76 lakh units in the quarter ended December 2009 to 1.24 lakh units in the current quarter.

Two wheeler exports registered 17% growth with sales increasing from 43,696 units in the quarter ended December 2009 to 51,394 units in the current quarter.

The company's three wheeler sales during the quarter grew 212% from 3,225 units in the quarter ended December 2009 to 10,079 units in the quarter ended December 2010.

At the end of the quarter under review, PT TVS Motor Company Indonesia sold 14,809 units (April '10 to December '10) in comparison with 10,448 units (April '09 to December '09) registering a growth of 42% over the same period of the previous year. Expansion of dealerships has been a key focus area and the company has added two new provinces to the existing thirteen. Upgraded models of TVS RockZ and TVS Apache will be launched in the fourth quarter. With improved sales network and product portfolio, PT. TVS is expected to vastly improve its performance in 2011-12.

TVS Wego has won the prestigious "Scooter of the Year Award" at the recently concluded CNBC TV18 Overdrive Awards 2011, NDTV Car and Bike Awards 2011, Bike India Awards 2011 and Business Standard Motoring Awards 2011. Eminent panels of jury members including auto enthusiasts and industry experts chose TVS Wego on merits of its design elegance, engine efficiency, smoothness of handling and ride quality.

      

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TVS MOTOR COMPANYU =3RD QTR , FY 2010-11 SALES = EXCELLENT PROGRESS OVER 2009

TVS Motor Company

Oct – Nov –Dec 2010 sales

DECEMBER,2010

Scooters grow 94%, Domestic Sales up 46%; Motorcycles up 24%

A substantial increase in domestic sales spurred by significant demand from across all product segments has propelled TVS Motor Company’s December sales by 41%.

The company sold 175,500 units in December 2010 against 120,913 units in the same month of the previous year. Cumulative sales of the company for the period April 2010 to December 2010 thus stood at 1,516,606 units.

Two Wheeler

Total two wheeler sales witnessed a sizeable increase of 41% with sales of 168,359 units against 119,701 units registered in December 2009.

Consequently, cumulative two wheeler sales for the period April 2010 to December 2010 increased by 34% with sales of 1,485,102 units over 1,109,054 units in April to December 2009.

Domestic sales of the company increased by 46% with sales of 149,357 units in December 2010 against 102,479 units reported in December 2009.

Scooter sales grew by an impressive 94% with sales of 41,804 units as against 21,566 units recorded in December 2009. Motorcycles sales recorded a growth of 24% with sales of 61,404 units in December 2010 as against 49,560 units in December 2009.

The company exported 19,002 units of two wheelers in December 2010 against 17,222 units registered in December 2009.

Three Wheeler

In December 2010, the company sold 3,500 units of three wheelers against 1,212 units sold in the comparable month of the previous year. Cumulative three wheeler sales for the period April 2010 to December 2010 stood at 27,863 units against 8,707 units, a growth of 220%

E N D****

NOVEMBER,2010:

Scooters grow 44 %, Motorcycles up 40%; Domestic Sales up 31%

Robust demand from all segments of its product portfolio has enabled TVS Motor Company to maintain a healthy growth momentum in the month of November 2010. Total sales of the company grew by 29%. The company sold 157,041 units in November 2010 against 121,945 units in the same month of the previous year.

Two Wheeler

During Nov’10, total two wheeler sales of the company grew by 27% with sales of 153,882 units against 120,844 units registered in November 2009.

Domestic sales of the company grew by 31% with sales of 139,541 units in November 2010 against 106,836 units reported in November 2009.

Scooter sales increased by 44% with sales of 36,233 units in the current month in comparison with 25,115 units registered in November 2009. Motorcycles sales continued to grow steadily at 40% with sales of 62,995 units in November 2010 in comparison with 45,080 units recorded in November 2009.

Export sales of the company stood at 14,341 units in November 2010 against 14,008 units registered in November 2009.

Three Wheeler

The company sold 3,159 units of three wheelers in November 2010 against 1,101 units in the comparable month of the previous year.

E N D * * *

OCTOBER 2010

Scooters grow 58%; Motorcycles up 49%; Domestic Sales up 47%; Exports grow 45%;

Robust demand for its products across all segments of the two and three wheeler industries has enabled TVS Motor Company to post a total sales growth of 48% in October 2010. The company registered total sales of 195,271 units in October 2010 against 131,941 units in October 2009.

Two Wheeler

During the month, total two wheeler sales of the company grew by 46% with sales of 191,822 units against 131,029 units registered in October 2009.

Domestic sales of the company grew significantly by 45% with sales growing from 118,563 units in October 2009 to of 173,771 units in October 2010.

Scooter sales led the growth quotient with a substantial increase of 58% from 28,301 units in October 2009 to 44,659 units in the current month. Motorcycles sales too grew by an impressive 49% with sales increasing from 56,465 units in October 2009 to 84,233 units in October 2010.

Exports registered a growth of 45% with sales increasing from 12,466 units in October 2009 to 18,051 units in October 2010.

Three Wheeler

The company sold 3,449 units of three wheelers in October 2010 against 912 units in the comparable period of the previous year.

E N D * * *

COMMENTS :

As we can see from the Sales figures for the 3 months of the 3^rd quarter, TVS Motor Company is consolidating its position well in the 2 and 3 wheeler Market.

Its 3^rd quarter results can be expected to reflect this growth pattern. 

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Auto sales in November 2010 = Maruti Suzuki = M&M = TATA MOTORS = TVS MOTORS = BAJAJ AUTO = HERO HONDA

Auto sales

in November 2010

The automobile sales numbers for the month of November indicate a visible slowdown in the Indian auto industry due to end of festive season. The sales of various companies are indicated below:

Maruti Suzuki

Car market leader Maruti Suzuki India Limited sold a total of 1,12,554 vehicles in November 2010. This includes 10,051 units of exports.

The company had sold 87,807 vehicles in November 2009.

For the second consecutive month, the company crossed 1 lakh units sales mark in the domestic market in November 2010 with 1,02,503 units.

In November 2010, the sales in A2 segment grew by 32.2 per cent while in the A3 segment the sales growth was 27.2 per cent, as compared to November 2009. The sales growth in the C segment was 76.5 per cent over November 2009.

The sales figures for November 2010 are given below:

Segment	Models	In November			Till November
		2010	2009	% Change	2010-11	2009-10	% Change
A1	M800	2440	3040	-19.7%	17184	22020	-22.0%
A2	Alto, Wagon-R, Zen, Swift, A-Star, Ritz	74063	56005	32.2%	521031	407271	27.9%
A3	SX4, D'zire	11115	8741	27.2%	83056	61770	34.5%
A: Total Passenger Cars		87618	67786	29.3%	621271	491061	26.5%
B: MUV	Gypsy, Grand Vitara	199	253	-21.3%	4428	2576	71.9%
C: Van Type	Omni, Versa, Eeco	14686	8320	76.5%	105182	60771	73.1%
Domestic		102503	76359	34.2%	730881	554408	31.8%
Export		10051	11448	-12.2%	97559	91731	6.4%
Total Sales		112554	87807	28.2%	828440	646139	28.2%

* Eeco was launched in January 2010.

M&M

Mahindra’s Auto Sector sales grow by 18% in

November 2010 

Auto Division exports grow by 25%

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $7.1 billion Mahindra Group, today announced an 18% growth in its auto sales numbers for the month of November 2010 which stood at 26,666 units as against 22,589 units during November 2009. 

The company’s domestic sales stood at 25166 units during November 2010, as against 21387 units during November 2009, an increase of 18%. Auto division exports have grown by 25% during the same period.  

The Passenger Vehicles segment (which includes the UVs as well as the Logan) also registered a growth of 12%, having sold 12323 units in November 2010, as against 11043 units during November 2009. The 4 wheel pick-up segment, which includes the Maxximo and the Gio, registered a growth of 41%, having sold 7699 units during November 2010 as against 5448 units during November 2009. 

The company had undertaken a prescheduled plant maintenance shutdown of 6 days in November 2010.  

Mahindra Tractors registers

highest ever monthly growth of 46% in FY2011 

Total Sales (domestic + exports) in November 2010

register 43% increase at 17993 units

Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the U.S. $7.1 billion Mahindra Group, maintained its leadership position in the tractor industry in November, 2010. 

Domestic sales in November 2010 stood at 16975 units, as against 11604 units for the same period last year, thereby registering a growth of 46%, the Sector’s highest ever monthly growth in 2011.

Total tractor sales (domestic + exports) in November 2010 stood at 17993 units, as against 12592 units for the same period last year, an increase of 43%.

For the period April to November 2010, total cumulative sales (domestic + exports) stood at 137931 units, as compared to 115231 units for the corresponding period last year, an increase of 20%.

Exports during the month of November 2010 stood at 1018 units, as against 988 units for the same period last year.

Mahindra 2 Wheelers records

125 Percent growth in November 2010

Mahindra Two Wheelers, a part of the US $7.1 billion Mahindra Group, further consolidated its presence in the two wheeler segment in November 2010.

Sales for the month of November 2010 stood at 15,854 units, as against 7,020 units in November 2009, an increase of 125%. The sales for Motorcycles stood at 1,706 units.

Total cumulative sales from April to November 2010 stood at 107,888 units, as compared to 29,778 units for the same period last year, an increase of 262%.

“Consumers have reposed their trust in the Mahindra Two Wheeler brand and this is borne out from the momentum that is reflected in our monthly sales figures.

We have also begun our motorcycle journey with the introduction of the Stallio in the market which has been received well by our consumers. We are currently in the process of ramping up production to meet demand,” said Mr. Anoop Mathur, President Two Wheeler Sector and Member of the Group Executive Board, Mahindra & Mahindra Ltd.

Mahindra 2 Wheelers’ Power Scooters cater to a range of consumer segments. The Mahindra Rodeo with its very innovative, contemporary features is popular amongst the Indian youth, while the Mahindra Duro is positioned as a family scooter. The Flyte is the Indian woman’s two-wheeler of choice. The stylish Stallio creates a niche for itself in the motorcycles category.

Tata Motors

Tata Motors’ total sales (including exports) of Tata commercial and passenger vehicles in November 2010 were 54,622 vehicles, a growth of 1% over 54,108 vehicles sold in November 2009. The company’s domestic sales of Tata commercial and passenger vehicles for November 2010 were 50,419 nos., 1% growth over 50,114 nos. sold in November last year.

Cumulative sales (including exports) for the company for the fiscal are 499,492 nos., a growth of 31% over 381,003 nos. sold last year.

Commercial Vehicles

The company’s sales of commercial vehicles in November 2010 in the domestic market were 35,079 nos., a 19% growth compared to 29,408 vehicles sold in November last year. LCV sales were 20,376 nos., a growth of 21% over November last year. M&HCV sales stood at 14,703 nos., a growth of 18% over November last year.

Cumulative sales of commercial vehicles in the domestic market for the fiscal are 273,650 nos., a growth of 23% over last year. Cumulative LCV sales are 156,407 nos., a growth of 15% over last year, while M&HCV sales stood at 117,243 nos., a growth of 37% over last year.

Passenger Vehicles

The passenger vehicles business reported a total sale and distribution offtake of 16,365 nos. (15,340 Tata + 1,025 Fiat) in the domestic market in November 2010, lower by 28% compared to 22,671 nos. (20,706 Tata + 1,965 Fiat) in November last year. Sales of Tata passenger vehicles are 15,340 nos., lower by 26% over November 2009. Sales of the Tata Nano were 509 nos., lower by 85% over November last year. The Indica range sales were 5,716 nos., lower by 37% over November last year. The Indigo range recorded sales of 6,009 nos., a growth of 1% over November last year. The Sumo/ Safari/ Aria range accounted for sales of 3,106 nos., higher by 40% over November last year.

Jaguar Land Rover sales continued their upward trend.

Cumulative sales and distribution offtake of passenger vehicles in the domestic market for the fiscal are 203,904 nos. (188,991 Tata + 14,913 Fiat), against 156,364 nos. (139,285 Tata + 17,079 Fiat) last year, a growth of 30%. Cumulative sales of Tata passenger vehicles were 188,991 nos., a 36% increase compared to 139,285 nos., in November last year. Cumulative sales of the Nano are 40,976 nos., a 194% increase compared to 13,924 nos., in November last year. Cumulative sales of the Indica range are 64,350 nos., lower by 15%. Cumulative sales of the Indigo family are 58,072 nos., higher by 98%. Cumulative sales of the Sumo/Safari/ Aria range are 25,593 nos., higher by 26%.

Exports

The company's sales from exports at 4,203 vehicles in November 2010 registered a growth of 5% compared to 3,994 vehicles in November last year. The cumulative sales from exports for the fiscal at 36,851 nos. are higher by 84% over 20,069 nos. in the same period last year.

TVS Motor

TVS Motors has posted growth of 27.31% in November 2010. The company  sold 1,53,882 units in November 2010 compared to 1,20,844 units sold in November 2009. Total sales stood at 1,57,041 units in November 2010 up by 28.78% compared to 1,21,945 units sold in Nov 2009. M-O-M, however, it is a drop of 19.78% due to end of festive season. Cumulative two wheelers sales for the period of April to November 2010 stood at 13,16,743 units of two wheelers up by 33.09% compared to 9,89,353 units of two wheeler sold in same period last year.

Domestic sales stood at 1,39,541 units in November 2010 up by  30.61% compared to 1,06,836 units sold in November 2009. The company sold 36,223 scooters in November 2010 up by 44.26% compared to 25,115  scooters sold in November 2009.  Motorcycle sales stood at 62,995 units in  November 2010 up by 39.74% compared to 25,115 units sold in November 2009.

TVS Motors has set a target of 2 million units for 2010-2011.

BAJAJ AUTO

Particulars                 Nov--‐10    Nov--‐09    Growth  %

MOTORCYCLES            265,036     242,390     9     

COMMERCIAL VEHICLES 34,195     34,111       0

TOTAL                       299,231     276,759     8*

Exports out of the

above                        90,869       98,521       -8**

* November 2009 sales include 258 scooters.

**Exports affected due to logistics constraints.

1. Domestic motorcycle sales up 19% YoY.

2. Pulsar sales up 66% to 83,146 units.

3. Discover sales up 7% to 101,033 units.

Bajaj Auto reported 9 per cent jump in motorcycle sales at 2,65,036 units in November. The company had sold 2,42,390 units in November last year.

In October this year, the company had reported its highest ever motorcycle sales in a month at 3,29,776 units.

BAL's exports dipped eight per cent during November at 90,869 units as compared to 98,521 units in the same month last year.

In the three-wheeler category, BAL reported flat growth during November at 34,195 units as compared to 34,111 units.

HERO HONDA

Hero Honda Motors Ltd (HHML), the world’s largest two-wheeler manufacturer reported yet another month of bumper sales in November,2010.

The company’s sales for November stood at 421,366 units – a record seventh consecutive month of four-lakh plus sales. This is a growth of 10.5 per cent over the corresponding month in the previous year when Hero Honda had sold 381,378 units.

The company’s cumulative sales in the financial year so far (April-November’10) has now risen to 34,46,602 units, a 13.46 % growth over corresponding period last year (April-November’09) when Hero Honda had sold 30,37,756 units.

S U M M A R Y

The Auto Industry leaders mentioned above are all maintaining their  leadership positions – in November also – which is a slack month – after the hectic  Festive season.

TATA Motors has problems with NANO Sales – but is making serious efforts to get over  the same. TATAs is one Indian Manufacturer – which is rising to International standards without any major external R&D Inputs.

Its Indica had initial teething problems too – but is now a good success along with its subsequent variants. NANO is the smallest Car but is perhaps the most prestigious Indian introduction to the world so far - it is improving itself now. TATAs  need to address all its safety / comfort issues etc – and they are looking at these issues seriously. They can be expected to make NANO an international success – after addressing these issues.  Now, they have the European technology also in-house.

Maruti, M&M, Bajaj Auto, Hero Honda and TVS Motors are all in fine fettle – though the festive season is over.

Overall –Indian Auto Industry is in great position in November 2010 - compared to the corresponding month of November 2009. We can also expect the Auto ancillary Industry to return much better performance this year – compared to last year.

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