TVS Motor Records Highest Ever Revenue and Profit in FY 2023-24
Achieves over 4Mn units in sales, Revenue of Rs. 31,776 Crs and PBT of Rs. 2,781 Crs;
EV sales registered 100% growth at 1.94 lakh units
EBITDA for Q4 2023-24 improved to 11.3%
TVS Motor Company’s revenue from operations in the quarter ended March 2024 grew by 24% at Rs. 8,169 Crores against Rs. 6,605 Crores in the quarter ended March 2023.
Operating EBITDA for the quarter under review is higher at 11.3% as against 10.3% during fourth quarter of last year. The Company posted highest ever Operating EBITDA of Rs. 926 Crores for the fourth quarter with a growth of 36% as against Rs. 680 Crores in fourth quarter of 2022-23. The Company’s Profit Before Tax (PBT) grew by 23% at Rs. 672 Crores in the fourth quarter of 2023-24 as against Rs. 547 Crores in the fourth quarter of 2022-23, PBT for the current quarter includes fair valuation loss of Rs.47 crores as against gain of Rs. 62 crores during the fourth quarter of last year.
Full Year Performance
During the financial year 2023-24, revenue from operations grew by 20% at Rs. 31,776 Crores as against Rs. 26,378 Crores recorded in 2022-23.
Operating EBITDA for the year improved by 100bps at 11.1% over the last year. The PBT for year ended March 2024 grew by 39% at Rs. 2,781 Crores as compared to Rs. 2,003 Crores reported during previous year. PAT for the year ended March 2024 is at Rs. 2,083 Crores as compared to Rs. 1,491 Crores reported during the year ended March 2023.
Sales Q4 2023-24
The overall two-wheeler and three-wheeler sales including exports grew by 22% at 10.63 Lakh units in the quarter ended March 2024 as against 8.68 Lakh units registered in the quarter ended March 2023. Motorcycle sales for the quarter ended March 2024 grew by 32% registering 5.11 Lakh units as against 3.89 Lakh units in quarter March 2023. Scooter sales for the quarter ended March 2024 grew by 16% registering 3.96 Lakh units as against 3.40 Lakh units in the fourth quarter of 2022-2023. Electric vehicles grew by 15% registering sales of 0.49 Lakh units in the quarter ended March 2024 as against 0.43 Lakh units during the quarter ended March 2023. Three-wheeler sales for the quarter under review grew by 4% registering 0.30 Lakh units as against 0.29 Lakh units in the fourth quarter of 2022-23.
Sales FY 2023-24
The Company achieved record sales of over 4 Million units in a financial year. During the year ended March 2024, the overall two and and three-wheeler sales of TVS Motor Company, grew by 14% at 41.91 Lakh units as against 36.82 Lakh units in the year 2022-23. Motorcycles sales during the fiscal year grew by 15% recording 19.90 Lakh units as against 17.33 Lakh unit in the year ended March 2023. Scooter sales during the fiscal year grew by 18% at 15.70 Lakh units as against 13.34 Lakh units in the year ended March 2023. Electric vehicles grew by 101% registering sales of 1.94 Lakh units in the year 2023-24 as against 0.97 Lakh units during 2022-23. Cumulatively TVS Motor has more than three lakh delighted EV customers. Three-wheeler sales for the fiscal year is at 1.46 Lakh units in the year ended March 2024 as against 1.69 Lakh units in the year ended March 2023.
About TVS Motor Company
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.
For more information, please visit www.tvsmotor.com.
