TVS Motor’s profit in the third quarter increased to Rs 265.6 crore on an annual basis as compared to Rs 121.1 crore in the third quarter of last year.
The company’s revenue grew 30.7 per cent to Rs 5,391.4 crore in the third quarter from Rs 4,125.5 crore in the third quarter of last year.
Opinions on CLSA TVS MOTOR
CLSA has maintained an outperform rating on TVS MOTOR and has increased the target to Rs 600. He says that the price increase has been seen due to the increase in the cost of the company. However, the third-quarter results have been better than anticipated. With this, EBITDA has been 9 percent better than the estimate. At the same time, there is an improvement in the volume trend in domestic and foreign markets. They have raised its EPS estimate by 15–19 percent for FY 2021–23.
PIDILITE
In the third quarter, PIDILITE produced good estimates. The company’s profits grew 29 percent. There is also an improvement in margins. The company’s consumer business has grown by 22 percent.
Opinion of CLSA on PIDILITE
CLSA has given an outperform rating on PIDILITE and has fixed the target at Rs 1900. He says the company’s results have been better than anticipated and margins have also improved. The company’s consumer, Bazar segment saw 25 percent growth. Rural data of the company’s business has shown improvement and metro has shown signs of strong demand.
CLSA’s opinion on SHRIRAM TRANS
CLSA has given a buy rating on SHRIRAM TRANS and set the target from Rs 1400 to Rs 1450. They say the results have surprised and asset quality has been better than anticipated. They have raised the company’s result estimates by 16–48 percent. At the same time, CV Financing business can have a better market share.
