Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Sep - Newspaper Advertisement - Special Window for Transfer and Dematerialisation of Physical Securities
Source: Bse
TVS Motor Company Limited (TVSMOTOR)
Large CapAuto stocks · Large cap · NSE
TVS Motor Company is a global two and three-wheeler manufacturer with state-of-the-art facilities in India and Indonesia. It champions sustainable mobility, producing internationally accepted products. Part of TVS VENU, it operates in 90 countries and includes Norton Motorcycles in the UK. The company has won the Deming Prize and ranks highly in J.D. Power surveys.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result21 Jul, 07:37 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
53NeutralSMA20 -4.4% / mo · MACD +
Stock trend: 55
Sector RS: 49
Sector 3M: -6.3% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TVSMOTORD candles · FIT view+16.8%Latest close ₹4074.00 on 2026-10-19
Bar
-0.5%
RSI
52
MACD hist
15.10
52W pos
67%
2026-10-19O ₹4094.10H ₹4138.00L ₹4055.00C ₹4074.00Vol 4.7L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TVSMOTORNifty AutoNifty 500
- TVSMOTOR
- +13.5%
- Nifty 500
- -5.6%
- Nifty Auto
- -5.4%
- Vs Nifty 500
- +19.1 pp
Chart stats
19 Oct 2026- From 52W high
- -9.2%
- 52W range position
- 67%
- ATR (14)
- 2.7%
- Volume vs 20D
- 0.65x
- Avg traded value
- ₹276 Cr
- 20D price channel
- ₹3,741.9 - ₹4,208.1
₹4,484.5
₹3,228 - ₹4,484.5
₹108
Latest completed session
20-session average
20.8% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE47
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent77
Revenue +33.5% · PAT +64.5% YoY
Technical
Neutral53
Price trend and sector-relative-strength timing.
Valuation
Legacy model-46.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 77/100Rev +33% YoY · PAT +65% YoY · +8% QoQ · operating leverage · margin compression
Filed 21 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹16,296 Cr | +33.5% | +8.3% |
| EBITDA | ₹2,343 Cr | +30.0% | +7.9% |
| Operating margin | 14.0% | -100 bps | +0 bps |
| PAT | ₹1,058 Cr | +64.5% | +29.0% |
| PAT margin | 6.5% | +122 bps | +104 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 55.20
- P/B
- 20.00
- EV/EBITDA
- 21.93
- Market Cap
- 190985.00Cr
Profitability
- ROE
- 33.60%
- ROCE
- 17.40%
- ROA
- 6.41%
- Dividend Y
- 0.30%
Growth (CAGR)
- Revenue 5Y
- 24.00%
- EPS 5Y
- 38.00%
- Revenue 3Y
- 21.00%
- EPS 3Y
- 33.00%
Balance Sheet
- Debt/Equity
- 3.43
- Interest Coverage
- 3.90×
- Altman Z
- 4.35
- Book Value
- 201.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- 1867.00 Cr
- EPS TTM
- 72.15
Shareholding
- Promoter Hold
- 50.27%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 63%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 16.3k+8.3% vs prev
Net Profit
₹ CrLatest: 1,058+29.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 52. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~4.6% over last month) — short-term momentum negative.
- RSI(14) at 52 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 9% off 52W high · 26% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
81
RS percentile
Stage 2 UptrendRecent S2
1M return
-2.3%
3M return
+13.5%
6M return
+11.3%
1Y return
+14.4%
RS 1D
+2
RS 20D
+7
Sector rank
#10
Industry rank
-
Stage evidence
- Price is 7.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +1.2%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
09 Oct 2026
S2 age
7 trading sessions
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 122.95+0.52%
RS vs Nifty 500123
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth18/25
Quality19/20
Balance Sheet2/15
Cash Flow3/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
47
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
47/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Quality contributes 19/20 to the score.
- Growth contributes 18/25 to the score.
Main drags
- Fair-value margin of safety is negative at -46.5%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 2/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
55.2
PB
20.0
EV/EBITDA
21.9
ROE
33.6%
ROCE
17.4%
FCF Yield
—
Debt/Equity
3.4
MoS
-46.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
47
Previous: 47
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-46.5%
Previous: -46.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
47
47
47
47
47
47
47
47
47
47
47
47
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹571.23
-613.2% MoS
Growth-justified P/E
38.5
Growth-justified Value
₹2,781.38
-46.5% MoS
PEG
1.53
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BAJAJ-AUTO
Large
Bajaj Auto Limited
Two Wheelers
match 162
57
24.0
29.2%
+37%
FAIR VALUE
HEROMOTOCO
Large
Hero MotoCorp Limited
Two Wheelers
match 161
71
18.1
28.1%
+50%
UNDERVALUED
EICHERMOT
Large
Eicher Motors Limited
Two Wheelers & CV
match 97
61
33.4
24.0%
+9%
UNDERVALUED
MOTHERSON
Large
Samvardhana Motherson International Limited
Auto Components
match 97
43
37.3
11.2%
+1%
WATCHLIST
OLECTRA
Large
Olectra Greentech Limited
Auto Components
match 96
50
49.4
15.6%
-25%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-16T00:40:36.240Z
Management commentary snapshot
TVS Motor reported highest-ever Q1 FY27 revenue of Rs. 13,896 Cr (+38% YoY) and PAT of Rs. 1,174 Cr (+51% YoY). Overall 2W/3W sales grew 28% YoY to 1.63M units, driven by 86% EV sales growth and 36% scooter sales growth.
The company delivered robust Q1 FY27 results with significant revenue and profit growth, supported by strong volume expansion across segments, especially electric vehicles and scooters. EBITDA margin improved despite commodity price increases, indicating effective cost management and pricing power.
Current business mix
Q1 FY27 Unit Sales by Product Category
Latest issuer-disclosed distribution across 4 reported categories.
Motorcycles45.4%
Scooters41.7%
Mopeds8.8%
Three-wheelers4.1%
Growth engines
Electric Vehicles
Two-wheeler electric vehicles grew by 86% registering sales of 129,940 units in Q1 FY27.
Scooters Segment
Scooters sales during the quarter under review grew by 36% at 0.68 Million units.
International Business
International Business reported a growth of 33% with sales of 0.47 Million units in Q1 FY27.
Overall Volume Growth
Overall two and three-wheelers grew by 28% at 1.63 Million units, registering highest ever quarterly sales.
Headwinds
Commodity Price Inflation
Commodity prices witnessed a sharp upward trend during the quarter due to global market uncertainties resulting in increased input costs.
Risk radar
Input Cost Inflation
Increased input costs due to sharp upward trend in commodity prices, partially mitigated by price adjustments and cost optimisation.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The document provides only year-on-year comparisons for Q1 FY2026-27 against Q1 FY2025-26. Q1 results for auto companies are typically compared year-on-year due to seasonal demand patterns.
Sector KPIs management disclosed
Revenue Growth
Company posted its highest ever Revenue of Rs. 13,896 Crores, registering growth of 38% as against Rs. 10,081 Crores in Q1 FY26.
Overall 2W/3W Sales Volume Growth
Overall two and three-wheelers grew by 28% at 1.63 Million units as against 1.28 Million units registered in Q1 FY26.
Motorcycle Sales Volume Growth
Motorcycles sales grew by 19% recording 0.74 Million units as against 0.62 Million units in Q1 FY26.
Scooter Sales Volume Growth
Scooters sales grew by 36% at 0.68 Million units as against 0.50 Million units in Q1 FY26.
Management forward view
Cost Mitigation Strategy
The Company partially mitigated cost increases through price adjustments and focused cost optimisation initiatives, including scale benefits.
EV Customer Base Milestone
TVS Motor now has more than 1 Million delighted EV customers.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Overall 2W/3W Sales Growth | 28% YoY in Q1 FY27 | Sustained volume growth across segments, indicating continued market demand. |
| EV Sales Growth | 86% YoY in Q1 FY27 | Continued strong momentum in EV adoption and market share expansion. |
| EBITDA Margin | 12.8% in Q1 FY27 | Maintenance or improvement of margins amidst potential ongoing input cost pressures. |
| PAT Growth (adjusted for fair valuation gain) | 51% YoY (includes Rs. 150 Cr fair valuation gain) | Profitability growth driven by core operations, excluding one-off gains. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 40th percentile within Auto. Main check: balance sheet trust is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
67 docs text-extracted · 29 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
56th percentile
overall median 67 · Auto: 40th pctile, median 74 · Large: 32nd pctile, median 73
Evidence depth
Financial-only
67 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
48
watch · leverage and solvency
Discipline
76
strong · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Debt/equity is 3.43.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching TVS Motor Company Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Sep - TVS MotoSoul 6.0 festival announced for Goa on December 11-12, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 Sep - TVS launched Nepal’s first 150cc NTORQ 150 scooter at introductory price रु 3,69,900.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Sep - TVS Motor launches enhanced Apache and Ronin variants; prices start at ₹127,990, available from today.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep - Compliance under Regulation 30 of SEBI (LODR) Regulations, 2015
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.