Q2 2025 TVS Motor Company Ltd Earnings Call Transcript
Key Points
- TVS Motor Co Ltd (BOM:532343) recorded its highest ever quarterly revenue of INR9,228 crore, marking a 13% growth over the previous year.
- The company achieved its highest operating EBITDA of INR1,080 crore, with a 20% growth and an improved margin of 11.7%, up by 70 basis points from the previous year.
- Two-wheeler sales, both ICE and EV, showed significant growth, with ICE sales increasing by 14% and EV sales by 31% compared to the previous year.
- TVS Credit added over 2 million new customers in the first half of the fiscal year, with a book size growth of 13% over the previous year.
- The company is investing heavily in future technologies, including electric vehicles and digital capabilities, positioning itself for long-term growth.
- The company has not yet recognized PLI incentives, which could impact financial reporting and perceived profitability.
- There are challenges in international markets, particularly in Africa, due to currency depreciation and economic conditions.
- Employee costs are significantly higher compared to competitors, which could affect margins if not managed effectively.
- The company faces competitive pressures in the EV market, leading to strategic pricing adjustments.
- There is a noted slowdown in the Raider 125 sports category, which may require strategic repositioning or production adjustments.
Ladies and gentlemen, good day, and welcome to the TVS Motor Company Limited 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 from Batlivala & Karani Securities India Private Limited. Thank you, and over to you, sir.
Thank you, Steve. Welcome to TVS Motor Company 2Q FY25 post-results conference call. From TVS Motor Company Limited management, we have with us today Mr. KN Radhakrishnan, Director and Chief Executive Officer; and Mr. K Gopala Desikan, Chief Financial Officer. I will now hand over the call to Mr. KN Radhakrishnan for the opening remarks to be followed by question-and-answer session. Over to you, sir.
Good evening, everyone, and thanks for joining us today. First of
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