New launches and upgrades introduced by TVS Motor Company across the scooter and motorcycle segments helped the company to register increase in sales, aiding significant bottom line growth. The company today announced results for the financial year 2013-14. During the year, the company strengthened its presence in the scooter segment introducing TVS Jupiter, styled to enthuse the male customer. TVS Jupiter went on to become the most awarded scooters in India.
In the last quarter of FY14 the company reported revenue growth of 21% to Rs 2,156 crore from Rs 1,775 crore during the same period last year. The company’s profit from operation increased from Rs 63 crore in Q4 of the previous financial year to Rs 101 crore in the fourth quarter of 2013-14. Profit After Tax (PAT) increased from Rs (33) crore in the corresponding period last year to Rs 52 crores in the year under review.
Motorcycles sales increased from 1.85 lakh units registered in the fourth quarter of
2012-13 to 1.97 lakh units in the fourth quarter of 2013-14. Scooters sales increased from 0.95 lakh units in the fourth quarter of 2012-13 to 1.37 lakh units registered in the fourth quarter of 2013-14. Two wheeler exports grew from 0.52 lakh units in the fourth quarter of 2012-13 to 0.67 lakh units in the quarter under review. Three wheeler sales increased from 0.14 lakh units in Q4 of the previous year to 0.21 lakh units in the fourth quarter of 2013-14.
During the year ended March 2014, the overall two-wheeler sales of the company, including exports was 19.93 lakh units as compared to 19.95 lakh units for the year ended March 2013. Motorcycle sales during the fiscal increased from 7.56 lakh units in 2013 to 7.86 lakh units in the current financial year. Scooters sales during the period under review increased from 4.46 lakh units for the year ended March 2013 to 4.74 lakh units in the year ended March 2014. Three wheeler sales of the company increased significantly from 49,143 units in the previous year to 80,235 units in the year ended 31st March 2014.
Financial Performance
The company’s total revenue increased by 11% to Rs 7,962 crore in the year under review from Rs 7,169 crore during the same period last year. Profit from operations grew by 38%, increasing from Rs 254 crore in the year ended March 2013 to Rs 351 crore in the year ended March 2014. Profit After Tax grew by 126% to Rs 262 crore in FY14 from Rs 116 crore in the year ended March 2013.
International Business
Total exports of the company for the year increased to 3.09 lakh units from 2.45 lakh units recorded in March 2013. The company has declared a second interim dividend of Re 0.75 per share on the share capital of Rs 47.51 crore for the year 2013-14.
TVS Motor Company plans to introduce its all new TVS StaR City+ and all new scooty – TVS Zest that were showcased at this year’s Auto expo. In addition to these new launches, the company has also planned upgrades across segments to strengthen the product portfolio. With improved product presence in various segments of the industry, the company expects to better its performance in the ongoing fiscal.
