Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Sreemant Dudhoria is a CFA Charterholder with 15 years of experience in equity research and information technology. He is also a SEBI-registered Research Analyst (Registration Number: INH000016861). His focus is on analyzing companies with bottom-up specific triggers. Previously, he has worked with Unifi Capital and Infosys Technologies Limited.

Equity Analyst - Fundamental & Thematic

TVS Motor (TVSL) – The Juggernaut; Solid Outlook

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

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Robust Operating Performance:<a href="https://www.smartkarma.com/entities/tvs-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:16123:1" rel="noopener">TVS Motor (TVSL IN)</a> reported 17% YoY revenue growth in Q4FY25 with EBITDA margins at 12.5% (ex-PLI) — stable despite input cost pressures. </li>
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EV Momentum &amp; Premium Product Strength: EV sales rose 54% YoY, and TVS continued to gain traction in the premium segment through its Apache and Ntorq models.</li>
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Valuation Demands Flawless Execution:At 58x P/E TTM EPS,TVS commands a steep premium over peers.Justifying this requires sustained outperformance in EV adoption, export monetization, and premium product cycles without margin erosion.</li>
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Robust Operating Performance:TVS Motor (TVSL IN) reported 17% YoY revenue growth in Q4FY25 with EBITDA margins at 12.5% (ex-PLI) — stable despite input cost pressures. 

EV Momentum &amp; Premium Product Strength: EV sales rose 54% YoY, and TVS continued to gain traction in the premium segment through its Apache and Ntorq models.

Valuation Demands Flawless Execution:At 58x P/E TTM EPS,TVS commands a steep premium over peers.Justifying this requires sustained outperformance in EV adoption, export monetization, and premium product cycles without margin erosion.


TVS Motor Q4FY25 Review: Premium Valuation Backed by Strategic Execution or Investor Over-Optimism?