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TVS completed BS VI transition

Also, announces quarterly results, EBITDA increased to 8.8% in Q3 of FY 2019-20

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TVS Apache RR310 BS-VI 2020 motorcycle
TVS Apache RR310 BS-VI 2020 motorcycle

TVS Motor Company has announced that in a planned and systematic manner, the Company has completely transitioned production to BS-VI vehicles for domestic market.

The 2020 range of BS-VI TVS vehicles are equipped with improved fuel economy, 90% reduction in emission, enhanced driveability in all conditions and many first in class features.  Equipped with      RT-Fi and ET-Fi technology, these BS-VI vehicles offer enhanced connectivity, along with first in segment GTT – Glide Through Traffic capability and LED headlamp among others.

Quarterly sales figures
TVS Motor Company’s overall two-wheeler sales including exports is 7.73 Lakh units during quarter ended December 2019 as against 9.50 Lakh units in the quarter ended December 2018.

Motorcycle sales for the quarter under review is 3.25 Lakh units in the quarter ended December 2019 as against 3.78 Lakh units registered in the quarter ended December 2018. Scooter sales of the Company is 2.80 Lakh units in the quarter ended December 2019 as against 3.54 Lakh units in the quarter ended December 2018.

Total three-wheeler sales grew by 22.1% to 48,391 units in the quarter ended December 2019 from 39,629 units in the quarter ended December 2018.

The total export of the Company grew by 22.6% to 2.17 Lakh units during the quarter ended December 2019 from 1.77 Lakh units in the quarter ended December 2018.

Quarterly results
Total revenue reported for the quarter ended December 2019 is Rs.4126.4 Crores as against Rs.4664.6 Crores reported for the quarter ended December 2018.

EBITDA % grew from 8.1% in the quarter ended December 2018 to 8.8% in the quarter ended December 2019. EBITDA for the quarter ended December 2019 is Rs. 363.3 Crores as against Rs.375.7 Crores reported for the quarter ended December 2018.

The Company had, in the previous quarter, reversed the provision of Rs.76.04 Crores towards National Calamity Contingent Duty (NCCD) based on a favourable ruling by CESTAT in the Company’s case. Following the ruling given in the current quarter by the Hon’ble Supreme Court that NCCD is leviable, the Company, as a prudent measure, has reinstated the provision of Rs.76.04 Crores as an “exceptional item”.

Profit Before Tax (PBT) for the quarter ended December 2019 before considering the exceptional item is Rs.221.8 Crores as against Rs. 258.5 Crores for the quarter ended December 2018.  PBT for the quarter ended December 2019 after exceptional item is Rs. Rs.145.7 Crores.

Profit After Tax (PAT) for quarter ended December 2019 before considering the exceptional item is Rs.184.2 Crores as against Rs.178.4 Crores reported for the quarter ended December 2018.  PAT for the quarter ended December 2019 after the exceptional item is Rs.121.1 Crores.

Cumulative nine months results
The total two-wheeler sales of the Company including exports is 24.99 Lakh units during the nine months ended December 2019 as against 28.92 Lakh units in the nine months ended December 2018.

Total three wheelers sales grew by 13.9% to 1.31 Lakh units in the nine months ended December 2019 from 1.15 Lakh units in the nine months ended December 2018.

The total export of the Company grew by 12.5% to 6.37 Lakh units during the nine months ended December 2019 from 5.66 Lakh units in the nine months ended December 2018.

Total revenue reported for the nine months ended December 2019 is Rs.12948.9 Crores as against Rs.13829.9 Crores reported for the nine months ended December 2018.

The Company’s Profit Before Tax (PBT) for the nine months ended December 2019 is Rs.664.6 Crores as against Rs.777.0 Crores during nine months ended December 2018.

Profit After Tax (PAT) for the nine months ended December 2019 is Rs.518.4 Crores against Rs.536.3 Crores reported for the nine months ended December 2018.

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