TVS Motor Company today reported its financial results for the year FY2019. With total sales of 3.91 million units, the company’s total revenue excluding excise duty / GST grew by 19.3 percent to Rs 18,217.5 crore. The year saw the launch of the TVS Radeon commuter motorcycle. 

In Q4 FY2019, TVS Motor reported growth of 9.2 percent with total revenue  rising from Rs 4,016.8 crore in the fourth quarter of FY2018 to Rs 4,387.6 crore in Q4 FY2019. The company reported Profit Before Tax (PBT) of Rs 183.9 crore and Profit After Tax of Rs 134.3 crore for the quarter under review as against Rs 165.6 crore reported for the quarter ended March 2018, down 19% YoY.

EBITDA for the quarter ended March 2019 is Rs 308.1 crore compared to Rs 295.2 crore for the quarter ended March 2018, a growth of 4.4 percent. EBITDA for the quarter is at 7.0 percent.

During the quarter ended March 2019, overall two-wheeler and three-wheeler sales including exports grew from 889,000 units in Q4 FY2018 to 907,000 units. While motorcycle sales grew by 8.4 percent from 346,000 units to 375,000 units in Q4 FY2019, scooter sales were 271,000 units versus 280,000 units in Q4 FY2018. The company’s total export of two-wheelers and three-wheelers is 196,000 units in the quarter under review against 161,000 in Q4 FY2019.

Fiscal year 2019 performance
Operating EBITDA increased from Rs 1,175.0 crore during the year ended March 2018 to Rs 1,433.3 crore in the year ended March 2019, a growth of 22 percent. Profit before tax (PBT) for the year ended March 2019 is Rs 961.0 crore as against Rs 878.6 crore a year ago. Profit after tax (PAT) for the year ended March 2019 is Rs 670.1 crore as against Rs 662.6 crore registered in the year ended March 2018, up 1.13 percent. Operating PAT for the year ended March 2018 prior to consideration of fair valuation gains and one-time GST discount (net of tax) is Rs. 606.7 crore. The growth in operating PAT for the year ended March 2019 is 10.5%.

In FY2019, overall two-wheeler sales including exports grew by 11.6 percent, increasing from 3.36 million units in FY2018 to 3.75 million units in FY2019. Motorcycle sales grew by 15 percent, increasing from 1.35 million units in FY2018 to 1.55 million units in FY2019. Scooter sales grew by 14.6 percent, increasing from 1.13 million units in FY2018 to 1.3 million in Fy2019. Three-wheeler sales increased by 57.6 percent from 990,000 units in FY2019 to 1.5 million units in FY2019. Total exports were up 32.8 percent, from 574,000 units in FY2018 to 762,000 units in FY2019.

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