TVS Srichakra Limited (TVSSRICHAK)

Price	3,014.30 10.30 (0.34%)	52 Week High	3,699.00
ISIN	INE421C01016	52 Week Low	2,371.50
Industry	Automotive Aftermarket	Volume	16,208
Sector	Consumer Durables	P/E Ratio TTM	22.83
Market Cap	23 B	1 Year Beta	0.52

TVS Srichakra Limited (TVSSRICHAK), a leading manufacturer of tires in India, has reported its financial results for the quarter ended June 30, 2023. The company’s consolidated net sales for the quarter grew by 20.7% year-on-year to Rs. 1,999.21 crore. This was driven by the strong performance of the company’s two-wheeler tire business.

The company’s consolidated EBITDA for the quarter grew by 23.7% year-on-year to Rs. 376.70 crore. This was due to the increase in net sales and the company’s focus on cost optimization.

The company’s profit after tax for the quarter stood at Rs. 270.20 crore, a growth of 25.7% year-on-year. This was due to the increase in EBITDA and the company’s decision to not capitalize certain expenses.

The company’s earnings per share (EPS) for the quarter stood at Rs. 4.33, a growth of 26.9% year-on-year. This was due to the increase in profit after tax.

The company’s board of directors has recommended a dividend of Rs. 1.50 per share for the quarter.

Commenting on the results, Mr. V. E. Sundararajan, Managing Director, TVS Srichakra Limited, said, “We are pleased to report a strong growth in our financial performance for the quarter ended June 30, 2023. Our revenue growth was driven by the strong performance of our two-wheeler tire business. We are also pleased with the growth in our export business. We are confident that we will continue to grow our business in the coming quarters.”

Mr. Sundararajan further added that the company is focused on expanding its product portfolio and strengthening its distribution network. The company is also investing in new technologies to improve its products and services offerings.

The company’s shares are currently trading at Rs. 1,345.00 on the Bombay Stock Exchange (BSE). The company’s market capitalization is Rs. 10,414.78 crore.

Key Highlights

Consolidated net sales grew by 20.7% year-on-year to Rs. 1,999.21 crore.
This was driven by the strong performance of the company’s two-wheeler tire business.
Consolidated EBITDA grew by 23.7% year-on-year to Rs. 376.70 crore.
This was due to the increase in net sales and the company’s focus on cost optimization.
Profit after tax stood at Rs. 270.20 crore, a growth of 25.7% year-on-year.
This was due to the increase in EBITDA and the company’s decision to not capitalize certain expenses.
EPS stood at Rs. 4.33, a growth of 26.9% year-on-year.
This was due to the increase in profit after tax.
Board of directors recommended a dividend of Rs. 1.50 per share.

Outlook

TVS Srichakra Limited is a well-established tire manufacturer with a strong track record of growth. The company has a diversified portfolio of products, including two-wheeler tires, three-wheeler tires, and off-highway tires. The company is well-positioned to continue to grow its business in the coming quarters.

In addition to the above, the company is also investing in new technologies to improve its products and services offerings. The company is also expanding its international footprint and is targeting new markets in Southeast Asia and Latin America.

The company is confident that it will continue to grow its business in the coming quarters and will deliver strong financial performance in the future.

TVS Srichakra Limited (TVSSRICHAK) Chart

Technical Analysis of TVS Srichakra Limited (TVSSRICHAK)

Spinning Top Black

Spinning Top Black is formed on TVS Srichakra Limited (TVSSRICHAK) in 1 Day Timeframe. Black spinning tops are candlestick lines that are small, red-bodied, and possess shadows (upper and lower) that end up exceeding the length of candle bodies. They often signal indecision.

Moving Averages

Period	Simple	Exponential
MA 5	3,000.49	3,002.47
MA 10	3,000.02	2,989.48
MA 20	2,950.06	2,968.66
MA 30	2,918.47	2,962.39
MA 50	2,978.79	2,960.46
MA 100	2,974.86	2,949.73
MA 200	2,987.36	2,867.85

Moving Average Rating

Technical Indicators

Name	Value	Name	Value
Aroon Up (14)	42.86	Aroon Down (14)	0.00
MACD Level (12, 26)	20.16	MACD Signal (12, 26)	11.48
Relative Strength Index (7)	62.04	Relative Strength Index (14)	56.78
Stochastic %D (14 3 3)	52.19	Stochastic %K (14 3 3)	49.47
Stochastic RSI Fast (3, 3, 14, 14)	55.66	Stochastic RSI Slow (3, 3, 14, 14)	59.31
Bollinger Upper Band (20)	3,101.23	Bollinger Lower Band (20)	2,798.89
Keltner Channels Upper Band (20)	3,144.86	Keltner Channels Lower Band (20)	2,792.46
Donchian Channels Upper Band (20)	3,150.00	Donchian Channels Lower Band (20)	2,755.00
Ichimoku Conversion Line (9, 26, 52, 26)	3,032.03	Ichimoku Base Line (9, 26, 52, 26)	2,952.50
Ichimoku Leading Span A (9, 26, 52, 26)	3,038.11	Ichimoku Leading Span B (9, 26, 52, 26)	3,041.78
Positive Directional Indicator (14)	20.90	Negative Directional Indicator (14)	12.28
Volume Weighted Average Price	3,017.72	Volume Weighted Moving Average 20	2,972.58

Oscillator Rating

Oscillators

Awesome Oscillator	61.07
Ultimate Oscillator (7,14,28)	39.20
Money Flow (14)	47.48
Chaikin Money Flow (20)	-0.06
Commodity Channel Index (20)	67.76
Bull Bear Power	75.98

High / Low

1 Month	3,150.00	2,755.00
3 Month	3,262.55	2,755.00
6 Month	3,289.75	2,457.60
52 Week	3,699.00	2,371.50
All Time	4,340.00	44.90

Volume

Volume	16,208.00
Average 10 D	28,272.10
Average 30 D	20,520.30
Average 60 D	17,777.95
Average 90 D	15,275.41

Change/Volatility

Change	10.30 (0.34%)
Change 1W	45.05 (1.52%)
Change 1M	137.25 (4.77%)
Volatility	1.45
Volatility W	1.84

Performance

Yesterday	-2.53
Weekly	1.36
Monthly	7.65
3 Month	2.88
6 Month	13.50
Yearly	15.14
5 Year	10.58
All Time	2,433.03

Misc.

Average Day Range (14)	97.36
Average Directional Index (14)	23.79
Average True Range (14)	89.73
Williams Percent Range (14)	-53.86
Rate Of Change (9)	-0.98
Hull Moving Average (9)	3,014.02
Momentum (10)	37.90
Parabolic SAR	3,131.68

PIVOT POINTS of TVS Srichakra Limited (TVSSRICHAK)

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1,987.52	2,472.42	2,674.73	2,957.32	3,159.63	3,442.22	3,927.12
Fibonacci	2,472.42	2,657.65	2,772.08	2,957.32	3,142.55	3,256.98	3,442.22
Camarilla	2,743.70	2,788.15	2,832.60	2,957.32	2,921.50	2,965.95	3,010.40
Woodie's	2,156.55	2,455.78	2,641.45	2,940.67	3,126.35	3,425.57	3,611.25
DeMark's	-	-	2,573.58	2,906.74	3,058.47	-	-

Financial Analysis of TVS Srichakra Limited (TVSSRICHAK)

Income Statement

Basic EPS (FY)	101.85
Basic EPS (TTM)	132.05
EBITDA (Annual YoY Growth)	37.35
EBITDA (Quarterly QoQ Growth)	9.68
EBITDA (Quarterly YoY Growth)	94.86
EBITDA (TTM)	2.6 B
EBITDA (TTM YoY Growth)	52.63
EPS Diluted (Annual YoY Growth)	79.41
EPS Diluted (FY)	101.85
EPS Diluted (MRQ)	24.40
EPS Diluted (Quarterly QoQ Growth)	-6.35
EPS Diluted (TTM)	132.05
EPS Diluted (TTM YoY Growth)	151.70
Free Cash Flow (Annual YoY Growth)	90.04
Free Cash Flow Margin (FY)	-1.25
Gross Profit (Annual YoY Growth)	28.53
Gross Profit (FY)	4.9 B
Gross Profit (MRQ)	2.1 B
Gross Profit (Quarterly QoQ Growth)	4.70
Gross Profit (Quarterly YoY Growth)	10.71
Gross Profit (TTM YoY Growth)	16.62
Last Year Revenue (FY)	29.8 B
Revenue (Annual YoY Growth)	17.38
Revenue per Employee (FY)	6.4 M
Revenue (Quarterly QoQ Growth)	2.83
Revenue (Quarterly YoY Growth)	-4.77
Revenue (TTM YoY Growth)	6.57
Net Income (Annual YoY Growth)	79.41
Net Income (FY)	779.9 M
Net Income (Quarterly QoQ Growth)	-6.35
Net Income (TTM YoY Growth)	151.71
Total Revenue (FY)	29.8 B

Valuation

Enterprise Value/EBITDA (TTM)	8.89
Number of Employees	4,660.00
Number of Shareholders	27,372.00
Shares Float	6.4 M
Price to Book (FY)	2.23
Price to Earnings Ratio (TTM)	22.83
Price to Revenue Ratio (TTM)	0.78
Price to Sales (FY)	0.77
Total Shares Outstanding	7.7 M
Selling & Admin expenses Ratio (FY)	10.81
Selling & Admin expenses Ratio (TTM)	22.42

Balance Sheet

Total Assets (Annual YoY Growth)	4.09
Total Debt (Annual YoY Growth)	8.59
Total Liabilities (FY)	14.2 B
Cash & Equivalents (FY)	155.6 M
Cash and short term investments (FY)	155.6 M

Operating Metrics

Dividends

Dividend Yield Forward	1.07
Dividends Paid (FY)	-124,800,000.00
Dividends per share (Annual YoY Growth)	96.63
Dividends per Share (FY)	32.05

Margins

Net Margin (FY)	2.61
Net Margin (TTM)	3.43
Gross Margin (FY)	16.32
Gross Margin (TTM)	28.00
Operating Margin (FY)	4.89
Operating Margin (TTM)	5.58
Pretax Margin (TTM)	4.49

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TVS Srichakra Limited (TVSSRICHAK)

TVS Srichakra Limited (TVSSRICHAK) Chart