- 07 Nov 2022
- ICICIdirect Research
TVS MOTORS POSTS HEALTHY Q2FY23 NUMBERS
TVSMOTOR - 2434 Change: 19.00 (0.79 %)News:
On a standalone basis, topline for the quarter was at Rs 7,219 crore up 20.1% QoQ, EBITDA came in at Rs 736.5 crore up 22.9% QoQ with corresponding margins at 10.2%, up 23 bps QoQ. Consequently, standalone PAT came in at Rs 407.5 crore, up 27.1% QoQ. On consolidated basis topline grew 17% QoQ at Rs 8,560 crore, EBITDA was at Rs 1,086 crore with margins at 12.7%, up 30 bps QoQ
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The performance was in between its peers wherein Bajaj Auto witnessed gross margin decline and Hero reported gross margin expansion amid reduced commodity cost benefit. The company’s gross margins as well as EBITDA margins were largely flat QoQ at ~24% & ~10%, respectively but savings were realised under employee expense, which were down 55 bps QoQ. ASPs for the quarter came in at ~Rs 70,264, up 6% QoQ amid 13.3% QoQ rise in volumes at 10.27 lakh units
Impact:
Positive
The performance was in between its peers wherein Bajaj Auto witnessed gross margin decline and Hero reported gross margin expansion amid reduced commodity cost