This means its market capitalization has risen to about ₹75,600 crore on 31 October from ₹29,788 crore on 31 December 2021. Investors have given a thumbs up to the steady margin performance and rising market share in the electric vehicle segment.
The company has maintained double-digit Ebitda margin in the range of 10-10.6% since the December 2021 quarter till the June quarter (Q3FY22 to Q1FY24). In the September quarter (Q2FY24), margin improved a notch to 11%, a record high, taking TVS’ shares to a new 52-week high of ₹1,634 on Tuesday. Ebitda is earnings before interest, tax, depreciation, and amortization. Factors such as cost control initiatives, favourable product mix and price hikes have helped the margin performance. This is even after the share of margin dilutive electric vehicles is rising. TVS has so far remained unscathed. TVS’ electric vehicle iQube’s volume grew by nearly 49% sequentially in Q2.
Esta historia es de la edición November 01, 2023 de Mint Mumbai.
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Esta historia es de la edición November 01, 2023 de Mint Mumbai.
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