Views on TVS Motors 1QFY2016 Results: Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on TVS Motors 1QFY2016 Results:

"TVS Motors 1QFY2016 results were below estimates on back of weak operating performance. Revenues grew 14% yoy to INR 2,621 cr and were in line with expectations. While the volumes grew 5% yoy, the realization per vehicle grew 9% due to better product mix. However, TVS disappointed on the margin front yet again, reporting a margin of 6.2% v/s expectations of 6.5%. Lower proportion of high margin moped segment led to the company missing the margin estimates. Higher interest expenses further dented profitability. Net Profit came in at INR 90 cr v/s expectations of INR 99 cr. We currently have NEUTRAL view on the stock."

Shares of TVS MOTOR COMPANY LTD. was last trading in BSE at Rs.251.45 as compared to the previous close of Rs. 263.35. The total number of shares traded during the day was 557869 in over 8219 trades.

The stock hit an intraday high of Rs. 267.65 and intraday low of 249.5. The net turnover during the day was Rs. 143810035.

Source : Equity Bulls

Keywords