Today i.e. in the trading of 08 February, the stock of TVS Motor saw a jump of 7 percent in the morning trading. Let us inform that on 07 February, the company declared its quarterly results, according to which it registered a net profit of Rs 288 crore, registering a growth of 9 per cent during the quarter ended December, 2021, as compared to Rs 266 crore in the same quarter last year. Was. At the same time, the company’s revenue increased by 6 percent to Rs 5,706 crore during this period, which is the highest ever. At the same time, its revenue during the quarter ended a year ago i.e. December, 2020 was Rs 5,391 crore.
The company sold 8.35 two-wheelers during the quarter ended December 2021, as against 9.52 lakh units in the year-ago quarter.
TVS Motor reported the highest ever EBITDA of Rs 568 crore during the October-December 2021 quarter, compared to Rs 511 crore in the same period a year ago. Importantly, the company has posted decent results despite rising commodity prices and shortage of semiconductors. In addition, the EBITDA margin stood at 10 per cent during the third quarter.
Let’s have a look, what is the opinion of the brokerage on the company after the third quarter
CLSA has given Underperform to Outperform Rating on the stock and has raised the target of the stock from Rs.656 per share to Rs.711. The brokerage firm says that the company has presented better than expected results in the third quarter. CLSA said it was surprised by the good product mix in exports. The results have been better than expected due to the net realization of the company. Market growth is expected to increase in domestic and exports.
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Jefferies has retained its Buy rating on this stock. Jefferies has given a target of Rs 800 for this stock. The brokerage house says that the company has given good results in challenging times. On an annual basis, 9% growth in EBITDA and 11% growth in profit has been seen. The market share has increased in scooters, premium bikes and exports. The focus has increased on EVs and portfolio expansion.
The brokerage house says that the Q3 results have been better than expected. Product mix, price hike has boosted realization. However, the risk of increasing competition in the EV space remains. The brokerage firm has given a sell rating on this stock and has set a target of Rs 550.
UBS said the third quarter results were excellent on all counts. Management’s focus has been more on EVs. The brokerage firm has set a target of Rs 1000 while giving a buy rating for this stock.
Macquarie said the results have been better than expected and margins have shown an increase. The export momentum is strong and there are several new launches in the pipeline. Macquarie has given Outperform Rating on this stock and has a target of Rs.810.
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