TVS Motor Company registers highest ever revenue and profits; EBITDA improves to 9.5 percent in Q3

Chennai (Tamil Nadu) [India], January 28 (ANI/NewsVoir): TVS Motor Company reported highest ever revenue of Rs 5,404 Crores in the third quarter of 2020-21 as against Rs 4,126 Crores in the third quarter of 2019-20 registering a growth of 31 per cent. Company reported highest ever EBITDA of Rs 511 Crores for the third quarter recording a growth of 41 per cent as against Rs 363 Crores in third quarter of 2019-20.
Company also reported highest ever PBT of Rs 362 Crores in the third quarter of 2020-21 as against Rs 146 Crores in the third quarter of 2019-20. The third quarter results of last year had a onetime reversal of exceptional item of Rs 76 Crores. During the current quarter, Company reported highest ever Profit After Tax (PAT) of Rs 266 Crores.
During the nine months period, focused working capital management and improved operating performance helped the Company to generate free cash flow of Rs 1,616 Crores. These proceeds are used to reduce the debt. Lean stocks with the dealers also helped to unleash the blocked working capital across the supply chain.
During Q3 of 2020, two-wheelers sales in domestic market has grown by 21 per cent and international market by 31 per cent ahead of industry growth of 13 per cent and 20 per cent respectively.
During the quarter ended December 2020, the overall two-wheeler sales of the Company including exports grew by 23 per cent to 9.52 Lakh units from 7.73 Lakh units in the quarter ended December 2019. Motorcycle sales grew by 31 per cent to 4.26 Lakh units in the quarter ended December 2020 from 3.25 Lakh units registered in the quarter ended December 2019. Scooter sales of the Company grew by 11 per cent to 3.11 Lakh units in the quarter ended December 2020 from 2.80 Lakh units in the quarter ended December 2019.
The total export of the Company grew from 2.17 Lakh units in the quarter ended December 2019 to 2.61 Lakh units during the quarter ended December 2020 recording a growth of 20 per cent despite scarcity in availability of containers. The demand in export market continues to be robust.
Total three wheelers sales registered sale of 0.38 Lakh units in the quarter ended December 2020 as against sales of 0.48 Lakh units in the quarter ended December 2019.
Cumulative nine months results
The total two-wheeler sales of the Company including exports is at 20.42 Lakh units during the nine months ended December 2020 as against 24.99 Lakh units in the nine months ended December 2019. Total three wheelers sales of the Company are at 0.83 Lakh units in the nine months ended December 2020 as against 1.31 Lakh units in the nine months ended December 2019. The total export sales of the Company are at 5.57 Lakh units during the nine months ended December 2020 as against 6.37 Lakh units in the nine months ended December 2019.
Total revenue reported for the nine months ended December 2020 is Rs 11,455 Crores as against Rs 12,949 Crores reported for the nine months ended December 2019.
The Company's Profit Before Tax (PBT) for the nine months ended December 2020 is Rs 439 Crores as against Rs 665 Crores during nine months ended December 2019.
Profit After Tax (PAT) for the nine months ended December 2020 is Rs 323 Crores as against Rs 518 Crores reported for the nine months ended December 2019.
It may however be noted that cumulative Revenue, PBT and PAT for the current year are lower mainly due to loss incurred in Q1 due to all India shut down consequent to COVID-19. However, we are glad to report near normalcy from Q2 onwards.
Interim Dividend
The Board at its meeting held today, declared an interim dividend of Rs 2.10/- per share (210 per cent) absorbing a sum of Rs 99.77 Crores for the year 2020-21.
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 JD Power IQS and APEAL surveys for the past five years. We have been ranked No. 1 Company in the JD Power Customer Service Satisfaction Survey for consecutive four years.
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