Q4 2024 TVS Motor Company Ltd Earnings Call Transcript

May 08, 2024 / 11:30AM GMT

Release Date Price: ₹1996.65 (+0.86%)

Transcript

Key Points

Positve

TVS Motor Co Ltd (BOM:532343) achieved significant milestones in FY '24, surpassing sales of over 4 million units of 2-wheelers and posting all-time highest revenue of INR 31,776 crores.
The company's operating EBITDA improved by 100 basis points from 10.1% to 11.1%, and profit after tax grew by 40% to INR 2,083 crores.
TVS Motor Co Ltd (BOM:532343) saw a 100% growth in EV volume, with TVS iQube establishing a strong brand presence in the EV segment.
The company generated an operating free cash flow of INR 2,259 crores, significantly higher than the previous year's INR 795 crores.
TVS Motor Co Ltd (BOM:532343) has been awarded the PLI scheme for its current 2-wheelers in the EV portfolio, which is expected to support future growth.

Negative

International 2-wheeler sales declined by 3% over the last year, reflecting challenges in the global market.
Government incentives for EVs have been significantly scaled down, impacting the overall profitability of the EV segment.
The company faced a fair valuation loss of INR 47 crores in Q4, compared to a gain of INR 62 crores in the same quarter last year.
Despite strong performance, the company continues to face challenges in the international market due to ongoing geopolitical issues affecting the supply chain.
TVS Motor Co Ltd (BOM:532343) has high investment needs, with planned CapEx of around INR 1,000 crores for FY '25, which could impact short-term cash flows.

Operator

Ladies and gentlemen, good day, and welcome to the TVS Motor Company Limited Q4 FY '24 Earnings Conference Call hosted by Batlivala & Karani Securities India Private Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Annamalai Jayaraj for his opening remarks from Batlivala & Karani Securities & India Private Limited. Thank you, and over to you, sir.

Annamalai Jayaraj

Batlivala & Karani Securities India Pvt. Ltd., Research Division - Director & Deputy Head of Research

Thank you, Sejal. Good evening, everyone. On behalf of B&K Securities, welcome to 4Q FY '24 Post Results Conference Call of TVS Motor Company Limited. I also take this opportunity to welcome the senior management team of TVS Motor Company Limited. We have with us today Mr. K. N. Radhakrishnan, Director and Chief Executive Officer; and Mr. K. Gopala Desikan, Chief Financial Officer.

I will now invite Mr. K. N. Radhakrishnan for his opening remarks to be followed by question-and-answer

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