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TVS Motor Q4 Results Review: Motilal Oswal Maintains 'Neutral' Stance On The Stock — Here's Why
The demand outlook in domestic markets has remained weak following the festive season, while the exports outlook also continues to be uncertain, adds Motilal Oswal
29 Apr 2025, 08:44 AM IST 
In line with its guidance, TVS Motor recognized PLI benefits for the entire year in Q4.(Photo Source: Company website)
TVS Motor delivered an in-line operating performance, excluding the PLI benefit. Adjusted PAT grew 42% YoY to Rs 6.9 billion, broadly in line with our estimate of Rs 6.75 billion. For FY25, the company posted a strong 30% YoY growth in PAT to Rs 27.1 billion. While TVS Motor is expected to continue outperforming in the scooters segment, its underperformance in the motorcycles segment remains a concern. Additionally, two-wheeler indus...
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