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Last Updated: April 2, 2026, 2:31 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532343 | NSE: TVSMOTOR

TVS Motor Company Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2,175.48Overvalued by 36.50%vs CMP ₹3,426.00

P/E (55.8) × ROE (28.4%) × BV (₹171.00) × DY (0.35%)

₹1,266.77Overvalued by 63.02%vs CMP ₹3,426.00
MoS: -170.5% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2,844.9826%Over (-17%)
Graham NumberEarnings₹484.1819%Over (-85.9%)
DCFCash Flow₹917.9912%Over (-73.2%)
Net Asset ValueAssets₹170.948%Over (-95%)
EV/EBITDAEnterprise₹939.8310%Over (-72.6%)
Earnings YieldEarnings₹609.308%Over (-82.2%)
ROCE CapitalReturns₹1,080.9010%Over (-68.5%)
Revenue MultipleRevenue₹928.626%Over (-72.9%)
Consensus (8 models)₹1,266.77100%Overvalued
Key Drivers: EPS CAGR 30.8% lifts DCF — verify sustainability. | Wide model spread (₹171–₹2,845) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 30.8%

*Investments are subject to market risks

Investment Snapshot

67
TVS Motor Company Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 15.4% GoodROE 28.4% ExcellentD/E 2.44 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.61% (6mo) AccumulatingDII holding down 1.45% MF sellingPromoter holding at 50.3% Stable
Earnings Quality65/100 · Strong
OPM expanding (12% → 15%) Improving
Quarterly Momentum90/100 · Strong
Revenue (4Q): +23% YoY AcceleratingProfit (4Q): +46% YoY Strong
Industry Rank60/100 · Moderate
P/E 55.8 vs industry 33.8 Premium to peersROCE 15.4% vs industry 22.0% AverageROE 28.4% vs industry 20.7% Above peers3Y sales CAGR: 22% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:31 am

Market Cap 1,62,659 Cr.
Current Price 3,426
Intrinsic Value₹1,266.77
High / Low 3,970/2,221
Stock P/E55.8
Book Value 171
Dividend Yield0.35 %
ROCE15.4 %
ROE28.4 %
Face Value 1.00
PEG Ratio1.81

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for TVS Motor Company Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
TVS Motor Company Ltd 1,62,659 Cr. 3,426 3,970/2,22155.8 1710.35 %15.4 %28.4 % 1.00
Eicher Motors Ltd 1,87,233 Cr. 6,826 8,233/5,00034.7 8051.03 %29.8 %24.1 % 1.00
Hero MotoCorp Ltd 1,02,486 Cr. 5,122 6,390/3,32318.5 1,0503.22 %30.3 %23.1 % 2.00
Bajaj Auto Ltd 2,48,627 Cr. 8,896 10,187/7,08827.8 1,2232.36 %28.1 %22.8 % 10.0
Atul Auto Ltd 1,146 Cr. 413 554/38032.2 1630.00 %6.48 %4.99 % 5.00
Industry Average140,430.20 Cr4,936.6033.80682.401.39%22.02%20.68%3.80

All Competitor Stocks of TVS Motor Company Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 8,0668,0319,0569,93310,1149,94210,31411,30211,03511,54212,21014,05114,756
Expenses 7,0556,9827,8528,5888,6398,4878,8849,6789,4029,63810,40711,94112,488
Operating Profit 1,0111,0491,2041,3451,4751,4551,4311,6241,6331,9041,8032,1102,267
OPM % 13%13%13%14%15%15%14%14%15%16%15%15%15%
Other Income 867875112-34483270-5740-14-60
Interest 339398437483494511500509536551551552561
Depreciation 216232227237242263241259258292315320323
Profit before tax 4644866276767506477388889081,0049771,2231,323
Tax % 35%31%30%38%32%36%34%34%33%31%34%32%33%
Net Profit 304336441416510412485588609698643833891
EPS in Rs 6.337.079.148.1310.088.159.7011.8011.9113.6412.8416.7417.71

Last Updated: February 6, 2026, 11:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 8,38410,25611,37712,46316,34020,16018,84919,42124,35531,97438,77944,08952,559
Expenses 7,8929,65010,55811,59114,76917,99716,58517,18921,60127,94733,34437,51444,475
Operating Profit 4926058198711,5712,1632,2642,2322,7554,0275,4356,5758,084
OPM % 6%6%7%7%10%11%12%11%11%13%14%15%15%
Other Income 44809316371251236-513613199-92
Interest 806270603386638558819401,3681,9172,0932,215
Depreciation 1491792623173744425565657438599561,0461,250
Profit before tax 3074445806589311,0838658221,0671,9362,6933,5354,527
Tax % 39%28%26%23%29%33%25%26%31%32%34%33%
Net Profit 1873284295096657256476087311,3091,7792,3803,064
EPS in Rs 3.926.919.0310.7613.7314.8313.1512.5115.9327.9735.5047.0660.93
Dividend Payout % 37%28%28%23%24%24%27%28%24%18%23%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)75.40%30.79%18.65%30.65%9.02%-10.76%-6.03%20.23%79.07%35.91%33.78%
Change in YoY Net Profit Growth (%)0.00%-44.61%-12.14%12.00%-21.63%-19.78%4.73%26.26%58.84%-43.16%-2.12%

TVS Motor Company Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:16%
5 Years:19%
3 Years:22%
TTM:14%
Compounded Profit Growth
10 Years:22%
5 Years:27%
3 Years:41%
TTM:40%
Stock Price CAGR
10 Years:32%
5 Years:51%
3 Years:49%
1 Year:24%
Return on Equity
10 Years:24%
5 Years:25%
3 Years:27%
Last Year:28%

Last Updated: September 4, 2025, 9:40 pm

Balance Sheet

Last Updated: February 1, 2026, 12:17 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 48484848484848484848484848
Reserves 1,1131,2771,7712,1692,6303,1233,2353,7794,3525,4576,7368,4568,068
Borrowings 7281,1191,0911,3116,9289,29811,59112,17915,82722,37626,00628,60931,589
Other Liabilities 1,7432,1262,2362,6013,5864,2284,3995,8596,6927,1449,23510,53912,222
Total Liabilities 3,6324,5705,1466,12813,19016,69619,27221,86526,91935,02542,02447,65151,927
Fixed Assets 1,5171,6372,0382,3623,0943,3673,8114,2215,9755,7485,8917,6449,147
CWIP 489347643137451,0061,0415527431,0331,465701
Investments 4395399431,1554214403714686059671,1231,2471,316
Other Assets 1,6282,3012,1182,5479,36212,14514,08516,13519,78827,56633,97737,29440,763
Total Assets 3,6324,5705,1466,12813,19016,69619,27221,86526,91935,02542,02447,65151,927

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 47083936689354-9183731,151-1,575-4,405-1,2533,503
Cash from Investing Activity + -235-415-605-709-1,095-1,104-1,090-882-1,471-1,308-1,481-2,899
Cash from Financing Activity + -216261-319-598972,2101,6192532,9186,1183,2391,155
Net Cash Flow 19-7112-79156188902522-1284065051,759
Free Cash Flow 197-26142465-727-2,048-617227-2,531-5,724-2,3631,044
CFO/OP 123%40%134%95%43%-28%27%63%-44%-94%-5%71%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-236.00604.00818.00870.00-5.00-7.00-9.00-10.00-13.00-18.00-21.00-22.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 151516212428281918141714
Inventory Days 415140473434353937343433
Days Payable 6476748086839412110589100103
Cash Conversion Cycle -7-11-18-12-28-21-31-63-50-41-49-56
Working Capital Days -12-11-20-24-37-1-27-38-40-49-20-17
ROCE %19%21%22%22%19%16%13%11%11%13%15%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%50.27%
FIIs 17.02%18.13%18.51%19.27%20.83%21.05%22.33%21.20%21.48%22.42%22.90%23.09%
DIIs 24.39%23.41%23.10%21.79%20.26%20.13%19.02%19.99%19.73%18.80%18.34%18.28%
Public 8.33%8.19%8.12%8.68%8.64%8.56%8.33%8.45%8.45%8.40%8.46%8.33%
Others 0.00%0.00%0.00%0.00%0.00%0.00%0.07%0.07%0.07%0.10%0.04%0.03%
No. of Shareholders 1,94,3471,98,0022,02,5582,42,0942,60,6182,69,7762,69,0302,92,4893,01,3082,99,6443,09,3833,20,848

Shareholding Pattern Chart

No. of Shareholders

TVS Motor Company Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Balanced Advantage Fund 10,628,753 5.56 3908.6210,396,1682026-02-23 00:30:032.24%
ICICI Prudential Flexicap Fund 5,214,416 9.74 1917.555,314,4162026-02-23 01:09:00-1.88%
ICICI Prudential Equity & Debt Fund 3,981,427 2.97 1464.134,012,3932026-02-23 00:15:36-0.77%
Canara Robeco Large and Mid Cap Fund 2,473,937 3.69 909.772,686,8942026-01-26 02:40:12-7.93%
ICICI Prudential ELSS Tax Saver Fund 1,567,366 4.05 576.38N/AN/AN/A
Axis Midcap Fund 1,498,641 1.78 551.111,634,5642025-12-15 08:47:18-8.32%
Motilal Oswal Large and Midcap Fund 1,440,025 3.63 529.551,502,2522026-02-23 03:00:28-4.14%
Axis ELSS Tax Saver Fund 1,005,528 1.12 369.771,150,1452026-02-23 02:15:05-12.57%
ICICI Prudential Focused Equity Fund 918,875 2.26 337.911,053,8752026-01-26 02:40:12-12.81%
ICICI Prudential Multi Asset Fund 886,674 0.4 326.071,481,7932025-12-08 01:54:20-40.16%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 47.0535.5027.9715.9312.51
Diluted EPS (Rs.) 47.0535.5027.9715.9312.51
Cash EPS (Rs.) 73.6658.8746.5030.9724.84
Book Value[Excl.RevalReserv]/Share (Rs.) 178.98142.78124.39106.3688.71
Book Value[Incl.RevalReserv]/Share (Rs.) 178.98142.78124.39106.3688.71
Revenue From Operations / Share (Rs.) 927.99823.93672.99512.64408.77
PBDIT / Share (Rs.) 141.41118.9188.5258.6748.10
PBIT / Share (Rs.) 119.4098.3870.4443.0436.21
PBT / Share (Rs.) 75.3457.8141.6122.4017.46
Net Profit / Share (Rs.) 51.6538.3528.4215.3312.95
NP After MI And SOA / Share (Rs.) 47.0535.4927.9715.9312.51
PBDIT Margin (%) 15.2314.4313.1511.4411.76
PBIT Margin (%) 12.8611.9410.468.398.85
PBT Margin (%) 8.117.016.184.364.27
Net Profit Margin (%) 5.564.654.222.993.16
NP After MI And SOA Margin (%) 5.074.304.153.103.05
Return on Networth / Equity (%) 26.2924.8524.1317.2015.52
Return on Capital Employeed (%) 22.9022.1020.8915.4615.51
Return On Assets (%) 4.663.993.772.792.70
Long Term Debt / Equity (X) 1.641.861.651.661.64
Total Debt / Equity (X) 3.253.733.933.482.44
Asset Turnover Ratio (%) 0.971.011.031.231.13
Current Ratio (X) 1.121.020.880.920.96
Quick Ratio (X) 1.020.910.780.800.84
Inventory Turnover Ratio (X) 18.9018.7711.2812.4910.69
Dividend Payout Ratio (NP) (%) 21.2522.5317.8723.5427.98
Dividend Payout Ratio (CP) (%) 14.4714.2810.8511.8714.34
Earning Retention Ratio (%) 78.7577.4782.1376.4672.02
Cash Earning Retention Ratio (%) 85.5385.7289.1588.1385.66
Interest Coverage Ratio (X) 3.212.933.072.962.59
Interest Coverage Ratio (Post Tax) (X) 2.161.951.991.821.71
Enterprise Value (Cr.) 139163.99125803.8871339.2444139.8635878.66
EV / Net Operating Revenue (X) 3.163.212.231.811.85
EV / EBITDA (X) 20.7122.2716.9615.8315.70
MarketCap / Net Operating Revenue (X) 2.612.611.601.221.43
Retention Ratios (%) 78.7477.4682.1276.4572.01
Price / BV (X) 13.5215.079.306.767.26
Price / Net Operating Revenue (X) 2.612.611.601.221.43
EarningsYield 0.010.010.020.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

TVS Motor Company Ltd. is a Public Limited Listed company incorporated on 10/06/1992 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L35921TN1992PLC022845 and registration number is 022845. Currently Company is involved in the business activities of Manufacture of motorcycles, scooters, mopeds etc. and their engine. Company's Total Operating Revenue is Rs. 36251.32 Cr. and Equity Capital is Rs. 47.51 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - 2 & 3 WheelersChaitanya, No. 12, Khader Nawaz Khan Road, Chennai (Madras) Tamil Nadu 600006Contact not found
Management
NamePosition Held
Prof. Ralf Dieter SpethChairman
Mr. Venu SrinivasanChairman Emeritus & Managing Director
Mr. Sudarshan VenuManaging Director
Mr. K N RadhakrishnanDirector & CEO
Mr. Shailesh HaribhaktiIndependent Director
Dr. Deepali Pant JoshiIndependent Director
Mr. Vijay SankarIndependent Director
Mr. B SriramIndependent Director

FAQ

What is the intrinsic value of TVS Motor Company Ltd and is it undervalued?

As of 13 April 2026, TVS Motor Company Ltd's intrinsic value is ₹1266.77, which is 63.02% lower than the current market price of ₹3,426.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (28.4 %), book value (₹171), dividend yield (0.35 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of TVS Motor Company Ltd?

TVS Motor Company Ltd is trading at ₹3,426.00 as of 13 April 2026, with a FY2026-2027 high of ₹3,970 and low of ₹2,221. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,62,659 Cr..

How does TVS Motor Company Ltd's P/E ratio compare to its industry?

TVS Motor Company Ltd has a P/E ratio of 55.8, which is above the industry average of 33.80. The premium over industry average may reflect growth expectations or speculative interest.

Is TVS Motor Company Ltd financially healthy?

Key indicators for TVS Motor Company Ltd: ROCE of 15.4 % indicates efficient capital utilization; ROE of 28.4 % shows strong shareholder returns. Dividend yield is 0.35 %.

Is TVS Motor Company Ltd profitable and how is the profit trend?

TVS Motor Company Ltd reported a net profit of ₹2,380 Cr in Mar 2025 on revenue of ₹44,089 Cr. Compared to ₹731 Cr in Mar 2022, the net profit shows an improving trend.

Does TVS Motor Company Ltd pay dividends?

TVS Motor Company Ltd has a dividend yield of 0.35 % at the current price of ₹3,426.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in TVS Motor Company Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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