TVS Motor Company reported a revenue growth of 21.9% for the second quarter of FY 2018-19. Total revenue grew to Rs. 4994 Crores in the current quarter of 2018-19 from Rs. 4098 Crores in the quarter ended September 2017.

EBITDA for the quarter ended September 2018 is Rs. 428.2 Crores compared to Rs. 362.6 Crores for the quarter ended September 2017, a growth of 18.1%. EBITDA for the quarter is at 8.6%. Sequentially, EBITDA has gone up by 90 basis points.

The Companys Profit Before Tax (PBT) for the quarter ended September 2018 is Rs. 306.2 Crores as against Rs. 296.8 Crores which included a notional fair valuation gain of Rs. 31.7 Crores for the quarter ended September 2017. Hence the current quarter PBT of Rs. 306.2 Crores when compared with operating PBT of Rs. 265.1 Crores for Q2 of 2017-18 after adjusting for the above item represents an increase of 15.5%.

Profit After Tax (PAT) for quarter ended September 2018 is Rs. 211.3 Crores against Rs. 213.2 Crores reported for the quarter ended September 2017. Operating PAT for the quarter ended September 2017 prior to consideration of fair valuation gain (net of tax) is Rs. 190.4 Crores. The growth in operating PAT for quarter ended September 2018 is 11.0%.

During the quarter ended September 2018, the overall two-wheeler sales of the Company including exports grew by 13.6% to 10.49 Lakh units from 9.23 Lakh units in the quarter ended September 2017. Motorcycle sales grew by 14.9% to 4.20 Lakh units in the quarter ended September 2018 from 3.65 Lakh units registered in the quarter ended September 2017. Scooter sales of the Company grew by 18.2% to 3.88 Lakh units in the quarter ended Setember 2018 from 3.28 Lakh units in the quarter ended September 2017. The total export of the Company grew by 35.2% to 1.99 Lakh units during the quarter ended September 2018 from 1.48 Lakh units in the quarter ended September 2017.

Total three wheelers sales grew by 57.4% to 0.40 Lakh units in the quarter ended September 2018 from 0.25 Lakh units in the quarter ended September 2017.

Half-year results:

In the half year ended September 2018, revenue excluding Excise duty / GST, grew by 21.3% to Rs. 9165.2 Crores from Rs. 7554.6 Crores in the half-year ended September 2017.

Profit Before Tax (PBT) for the half-year ended September 2018 is Rs. 518.6 Crores as against Rs. 476.2 Crores recorded in the half-year ended September 2017, which included notional fair valuation gain of Rs. 68.3 Crores and one time GST discount of Rs. 16.5 Crores. Hence the current half-year PBT of Rs. 518.6 Crores when compared with operating PBT of Rs. 424.4 Crores for the half-year ended September 2017 after adjusting the above items represents an increase of 22.2%.

Profit After Tax (PAT) for the half-year ended September 2018 is Rs. 357.9 Crores as against Rs. 342.6 Crores registered in the half-year ended September 2017. Operating PAT for the half-year ended September 2017 prior to consideration of fair valuation gains and one-time GST discount (net of tax) is Rs. 305.3 Crores. The growth in operating PAT for half-year ended September 2018 is 17.2%.

The total two-wheeler sales of the Company for the half-year ended September 2018 grew by 13.6% to 19.41 Lakh units as against 17.08 Lakh units recorded in the half-year ended September 2017. Scooter sales grew by 15.4% in the half-year ended September 2018 to 6.76 Lakh units as against 5.86 Lakh units registered in the half-year ended September 2017. Sales of motorcycle during the half-year ended September 2018 grew by 16.0% to 8.07 Lakh units as against 6.95 Lakh units recorded in the half year ended September 2017. The total exports of the Company increased to 3.89 Lakh units in the half-year ended September 2018 as against 2.73 Lakh units in the half-year ended September 2017 registering a growth of 42.8%.

Total three-wheeler sales for the half-year ended September 2018 grew by 78.0% to 0.75 Lakh units as against 0.42 Lakh units in the half-year ended September 2017.

Interim Dividend:

The Board at its meeting on 23rd October 2018 declared an interim dividend of Rs. 2.10/- per share (210%) for the year 2018-19 absorbing a sum of Rs 120.28 Crores, including dividend distribution tax.

About TVS Motor Company

We are a reputed two and three-wheeler manufacturer, and the flagship company of the USD 7 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 four years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive three years. For more information, please visit www.tvsmotor.com.

For further information, please contact

Varghese M Thomas
Vm.thomas@tvsmotor.com

KS Harini
ks.harini@tvsmotor.com