TVS Motor Company achieves record revenue, profit during FY 2022-23

TVS Motor Company’s revenue from operations in the quarter ended March 2023 grew by 19% at Rs.6,605 crore against Rs. 5,530 crore in the quarter ended March 2022.

Operating EBITDA for the fourth quarter is higher at 10.3%.The company achieved record Operating EBITDA of Rs. 680 crore for the fourth quarter with a growth of 22% as against Rs. 557 crore in fourth quarter of 2021-22. The company’s Profit Before Tax (PBT) grew by 47% at Rs. 547 crore in the fourth quarter of 2022-23 as against Rs.373 crore in the fourth quarter of 2021-22. PBT for the quarter includes fair valuation gain Rs.62 crore on the equity shares held by the company. Fair valuation gain is shown as part of “Other income” in the financials. During the quarter under review, Profit After Tax (PAT) grew by 49% at Rs. 410 crores as against Rs. 275 crores in the fourth quarter of 2021-22.

FULL YEAR PERFORMANCE:

During the financial year 2022-23, revenue from operations grew by 27% at Rs. 26,378 crore as against Rs. 20,791 crore recorded in 2021-22.

Operating EBITDA for the year is higher at 10.1% compared to 9.4% in the previous year. The PBT before exceptional items for year ended March 2023 is higher at Rs. 2,003 crore as compared to Rs. 1,243 crore reported during previous year. PAT for the year ended March 2023 was at Rs. 1,491crore as compared to Rs. 894 crore reported during the year ended March 2022.

SALES Q4 2022-23:

The overall two-wheeler and three-wheeler sales including exports is at 8.68 lakh units in the quarter ended March 2023 as against 8.56 lakh units registered in the quarter ended March 2022. Motorcycle sales for the quarter ended March 2023 registered 3.89 lakh units as against 4.42 lakh units in quarter March 2022. Scooter sales for the quarter ended March 2023 grew by 30% registering 3.40 lakh units as against 2.62 lakh units in the fourth quarter of 2021-2022. Electric vehicles registered sales of 0.43 lakh units in the quarter ended March 2023 as against 0.06 lakh units during the quarter ended March 2022 and 0.29 lakh units during quarter ended December 2022.

Three-wheeler sales for the quarter under review are 0.29 lakh units as against 0.42 lakh units in the fourth quarter of 2021-22.

SALES FY 2022-23:

During the year ended March 2023, the overall two and three-wheeler sales of TVS Motor Company, grew by 11% at 36.82 lakh units as against 33.10 lakh units in the year 2021-22.Motorcycles sales during the fiscal year recorded 17.33 lakh units as against 17.32 lakh units in the year ended March 2022. Scooter sales during the fiscal year grew by 45% at 13.34 lakh units as against 9.23 lakh units in the year ended March 2022. Electric vehicles registered sales of 0.97 Lakh units in the year 2022-23 as against 0.11lakh units during 2021-22.Cumulatively TVS Motor has more than one lakh EV customers.

Three-wheeler sales for the fiscal year are 1.69 lakh units in the year ended March 2023 as against 1.72 lakh units in the year ended March 2022.