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TVS Motor Company"€™s EBITDA Increased from 8.1% in Q3 of FY 2018-19 to 8.8% in Q3 of FY 2019-20

Covai Post Network

TVS Motor Company’s overall two-wheeler sales including exports is 7.73 Lakh units during quarter ended December 2019 as against 9.50 Lakh units in the quarter ended December 2018.

 

Motorcycle sales for the quarter under review is 3.25 Lakh units in the quarter ended December 2019 as against 3.78 Lakh units registered in the quarter ended December 2018. Scooter sales of the Company is 2.80 Lakh units in the quarter ended December 2019 as against 3.54 Lakh units in the quarter ended December 2018.

 

Total three-wheeler sales grew by 22.1% to 48,391 units in the quarter ended December 2019 from 39,629 units in the quarter ended December 2018.

 

The total export of the Company grew by 22.6% to 2.17 Lakh units during the quarter ended December 2019 from 1.77 Lakh units in the quarter ended December 2018.

 

Total revenue reported for the quarter ended December 2019 is Rs. 4126.4 Crores as against Rs. 4664.6 Crores reported for the quarter ended December 2018.

 

EBITDA % grew from 8.1% in the quarter ended December 2018 to 8.8% in the quarter ended December 2019. EBITDA for the quarter ended December 2019 is Rs. 363.3 Crores as against Rs. 375.7 Crores reported for the quarter ended December 2018.

 

The Company had, in the previous quarter, reversed the provision of Rs. 76.04 Crores towards National Calamity Contingent Duty (NCCD) based on a favourable ruling by CESTAT in the Company’s case. Following the ruling given in the current quarter by the Hon’ble Supreme Court that NCCD is leviable, the Company, as a prudent measure, has reinstated the provision of Rs. 76.04 Crores as an “exceptional item”.

 

Profit Before Tax (PBT) for the quarter ended December 2019 before considering the exceptional item is Rs. 221.8 Crores as against Rs. 258.5 Crores for the quarter ended December 2018. PBT for the quarter ended December 2019 after exceptional item is Rs. Rs. 145.7 Crores.

 

Profit After Tax (PAT) for quarter ended December 2019 before considering the exceptional item is Rs. 184.2 Crores as against Rs. 178.4 Crores reported for the quarter ended December 2018. PAT for the quarter ended December 2019 after the exceptional item is Rs. 121.1 Crores.

 

Cumulative nine months results

The total two-wheeler sales of the Company including exports is 24.99 Lakh units during the nine months ended December 2019 as against 28.92 Lakh units in the nine months ended December 2018.

 

Total three wheelers sales grew by 13.9% to 1.31 Lakh units in the nine months ended December 2019 from 1.15 Lakh units in the nine months ended December 2018.

 

The total export of the Company grew by 12.5% to 6.37 Lakh units during the nine months ended December 2019 from 5.66 Lakh units in the nine months ended December 2018.

 

Total revenue reported for the nine months ended December 2019 is Rs. 12948.9 Crores as against Rs. 13829.9 Crores reported for the nine months ended December 2018.

 

The Company’s Profit Before Tax (PBT) for the nine months ended December 2019 is Rs. 664.6 Crores as against Rs. 777.0 Crores during nine months ended December 2018.

 

Profit After Tax (PAT) for the nine months ended December 2019 is Rs. 518.4 Crores against Rs. 536.3 Crores reported for the nine months ended December 2018.

 

In a planned and systematic manner, the Company has completely transitioned production to BS-VI vehicles for domestic market.

 

The 2020 range of BS-VI TVS vehicles are equipped with improved fuel economy, 90% reduction in emission, enhanced driveability in all conditions and many first in class features. Equipped with RT-Fi and ET-Fi technology, these BS-VI vehicles offer enhanced connectivity, along with first in segment GTT – Glide Through Traffic capability and LED headlamp among others.

 

Accolades

Shri. Venu Srinivasan, Chairman, TVS Motor Company has been named as one of the recipients of Padma Bhushan Award this year, to be conferred by the President of India. Shri. Venu Srinivasan was also conferred with the prestigious Deming ‘Distinguished Service Award For Dissemination and Promotion Overseas’ sponsored by Japanese Union of Scientists and Engineers (JUSE). He becomes the first industrialist from India to be bestowed this award for his contributions in the field of Total Quality Management (TQM).

 

New Launches

TVS Motor Company forayed into electric mobility with the launch of connected and advanced technology scooter, TVS iQube Electric. The Company recently launched the BS-VI TVS Apache RTR (4V & 2V series), and TVS Apache RR 310 with next generation technology. The flagship scooter brand TVS Jupiter, TVS StaR City+ and TVS XL have all transitioned to BS-VI.

 

About TVS Motor Company

We are a reputed two and three-wheeler manufacturer, and the flagship company of the USD 8.5 Billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 60 countries. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for the past five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.

 

For more information, please visit www.tvsmotor.com.

Source: Newsvior

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