Chennai, April 30, 2019: TVS Motor Company, today reported its financial results for the year 2018-19. With total sales of 39.14 Lakh units for the year, the Company’s total revenue excluding Excise Duty / GST grew by 19.3% to Rs. 18,217.5 Crores. During the year, the Company strengthened its presence in the commuter motorcycle segment with the successful launch of TVS Radeon.
Q4 PERFORMANCE (January 2019 – March 2019):
TVS Motor Company reported a growth of 9.2% with total revenue excluding Excise Duty / GST going up from Rs. 4,016.8 Crores in the fourth quarter of 2017-18 to Rs. 4,387.6 Crores in the fourth quarter of 2018-19. The Company reported Profit Before Tax (PBT) of Rs. 183.9 Crores and Profit After Tax of Rs. 134.3 Crores for the quarter under review.
EBITDA for the Quarter ended March 2019 is Rs. 308.1 Crores compared to Rs. 295.2 Crores for the quarter ended March 2018, a growth of 4.4% . EBITDA for the quarter is at 7.0%.
The Company’s Profit Before Tax (PBT) for the quarter ended March 2019 is Rs. 183.9 Crores as against Rs. 192.1 Crores for the quarter ended March 2018.
Profit After Tax (PAT) for the quarter ended March 2019 is Rs. 133.8 Crores as against Rs. 165.6 Crores reported for the quarter ended March 2018.
During the quarter ended March 2019, the overall two-wheeler and three-wheeler sales including exports grew from 8.89 Lakh units in the quarter ended March 2018 to 9.07 Lakh units. Motorcycle sales grew by 8.4% from 3.46 Lakh units in the quarter ended March 2018 to 3.75 Lakh units in fourth quarter of 2018 – 19. Scooter sales for the quarter ended 31st March 2019 is 2.71 Lakh units against the sale of 2.80 Lakh units in the fourth quarter of 2017-18. The Company’s total export of two-wheelers and three-wheelers is 1.96 Lakh units in the quarter under review against 1.61 Lakh units in the quarter ended March 2018 registering a growth of 21.7%. Three-wheeler sales grew by 44.8 % from 0.29 Lakh units in the fourth quarter of 2017-18 to 0.42 Lakh units in the quarter under review.
FULL YEAR PERFORMANCE (April 2018 to March 2019):
Total revenue excluding Excise Duty for the year recorded a growth of 19.3% increasing from Rs. 15,274.4 Crores in the year ended March 2018 to Rs. 18,217.5 Crores in the year ended March 2019.
Operating EBITDA increased from Rs. 1,175.0 Crores during the year ended March 2018 to Rs. 1,433.3 Crores in the year ended March 2019 registering a growth of 22.0%.
Profit before tax (PBT) for the year ended March 2019 is Rs. 961.0 Crores as against Rs. 878.6 Crores for the year ended March 2018, which included notional fair valuation gain of Rs. 68.3 Crores and one-time GST discount of Rs. 16.5 Crores. Hence the current year PBT of Rs. 961.0 Crores when compared with operating PBT of Rs. 826.8 Crores for the year ended March 2018 after adjusting the above item represents an increase of 16.2 %.
Profit after tax (PAT) for the year ended March 2019 is Rs. 670.1 Crores as against Rs. 662.6 Crores registered in the year ended March 2018. Operating PAT for the year ended March 2018 prior to consideration of fair valuation gains and one-time GST discount (net of tax) is Rs. 606.7 Crores. The growth in operating PAT for the year ended March 2019 is 10.5%.
During the year ended March 2019, the overall two-wheeler sales of TVS Motor Company, including exports grew by 11.6% increasing from 33.67 Lakh units registered in the year 2017-18 to 37.57 Lakh units in the year 2018-19. Motorcycle sales during the fiscal year grew by 15.0% increasing from 13.56 Lakh units in the year ended March 2018 to 15.59 Lakh units in the year ended March 2019. Scooter sales grew by 14.6% increasing from 11.35 Lakh units in the year ended March 2018 to 13.01 Lakh units in the year ended March 2019. Three-wheeler sales increased by 57.6% from 0.99 Lakh units in the year ended March 2018 to 1.56 Lakh units in the year ended March 2019. The total export of the Company recorded a growth of 32.8% increasing from 5.74 Lakh units in the year ended March 2018 to 7.62 Lakh units in the year ended March 2019.
The Board of Directors of the Company declared two interim dividends for the year 2018-19. The total dividend paid for the year ended March 2019 aggregated to Rs. 3.50 per share (350%) on 47,50,87,114 equity shares of Re.1/- each. The Board does not recommend any further dividend for the year under consideration.
TVS Motor Company won the Two-Wheeler Manufacturer of the Year Award at Car and Bike India Awards 2019 and Excellence in Business Performance at The Economic Times Awards, Tamil Nadu 2019. During the year, TVS NTORQ 125, swept the prestigious Scooter of the Year 2019 awards from leading publication houses including Autocar, Bike India and Times Auto Awards. TVS Radeon won multiple awards – namely Bike of the Year upto 125cc Commuter Bike of the Year at Motor Vikatan Award 2019 and Bike of the Year up to 125cc at Exhibit Auto Tech Awards 2019. TVS Apache RR 310 won Bike of the Year up to 400cc at Car and Bike India Awards 2019.
The Company bagged the prestigious awards for Corporate Excellence and Corporate Social Responsibility at the CII-ITC Sustainability Awards 2018. It was also awarded Green Era Award for Sustainability & Quality and Business Excellence Award at the International Awards by Otherways Management & Consulting, France, along with Best CSR initiative (Two-Wheeler) at Autocar India Awards 2019.
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