Shares of TVS Motor Co. jumped essentially the most in additional than six years after analysts hiked value targets for the two-wheeler maker citing improved exports outlook, new launches and value cuts, amongst others.
The corporate
witnessed its income develop by greater than 50% and internet revenue bounce
threefold over the year-earlier within the quarter ended March. It additionally
reported its highest-ever working revenue, whereas home volumes and exports
surged throughout the reported interval.
Its revenue rose 3%
over the previous fiscal to Rs 612 crore in FY21 regardless of reporting a lack
of Rs 139 crore within the first quarter as a result of Covid-19 lockdown.
Key This autumn
highlights (YoY)
- Income from operations rose 53%
to Rs 5,322 crore.
- Revenue after tax stood at Rs
289 crore towards Rs 74 crore in the identical interval of FY20.
- TVS’ two-wheeler home gross
sales grew 41%, whereas exports jumped 74%.
- Earnings earlier than
curiosity, tax, depreciation and amortisation greater than doubled at Rs
536 crore.
- Its margin stood at 10.1% on
the again of “sturdy development in income coupled with continued focus in
price discount initiatives”. Ebitda margin was 7% in Q4FY20 and 9.5% in
Q3FY21.
- TVS Motor offered 9.28 lakh two
and three-wheelers throughout the reported quarter, a development of 47%
over the yr earlier.
Shares of the
corporate jumped as a lot as 17.25%—the most important since September 2014—to
Rs 664 apiece round 11 a.m. on Wednesday. The inventory, nonetheless, pared a
few of the features to commerce 14.06% greater at Rs 645.90 apiece.
Of the 43 analysts
monitoring TVS Motor, 23 have a ‘purchase’ ranking, eight counsel a ‘maintain’
and 12 suggest a ‘promote’, in line with Bloomberg knowledge. The common of the
12-month consensus value targets implies a draw back of 6.3%.
Read more at: https://www.bloombergquint.com/markets/tvs-motors-stock-jumps-most-in-over-six-years-amid-a-flurry-of-target-price-upgrades
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