TVS Srichakra
TVSSRICHAK NSE
TVS Srichakra
Consumer DiscretionaryNSE: TVSSRICHAK BSE: 509243 Auto Components
Key Fundamentals
MicrocapTyresAutomobilesMarket Cap
₹3,907 Cr
Volatility
Moderate
P/E Ratio
42.66
EBITDA
₹294 Cr
Return on Equity
5.97%
Debt to Equity
0.64
Book Value
₹1,553.76
EPS
₹129.45
52W High
₹5,760
52W Low
₹2,871.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 45.7%
Weaknesses
2- Stock is trading at 3.31 times its book value
- Company has a low return on equity of 6.16% over last 3 years.
Growth Rate
Revenue Growth
12.22% higher than
3Y
Net Income Growth
247% higher than
3Y
Cash Flow Change
50.5% higher than
3Y
ROE
245% higher than
3Y
ROCE
73.48% higher than
3Y
EBITDA Margin (Avg.)
13.56% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
TVS Srichakra Ltd is a mid-cap tyre manufacturer with a market cap of ₹3,201 Cr trading at a PE of 45.4x. The company posted TTM sales growth of 12% and a sharp 159% TTM profit recovery, but its 3-year ROE remains subdued at 6% and longer-term compounded profit growth over 5 and 10 years is negative.
Bull Case 7
- Strong TTM revenue growth of 12% signals improving demand momentum, with FY26 consolidated sales reaching ~₹3,643 Cr vs ₹3,254 Cr in FY25 (approx 12% YoY growth)
- TTM compounded profit growth of 159% indicates a sharp earnings recovery from a low base, with PBT rising to ₹103 Cr in FY26 from ₹37 Cr in FY25
- Stock CAGR of 31% over 1 year reflects strong market re-rating and renewed investor interest
- Healthy dividend payout ratio of 45.7% demonstrates commitment to shareholder returns despite cyclical earnings
- 5-year sales CAGR of 13% shows sustained top-line compounding through commodity and demand cycles
- Operating profit margin improved to 7.63% in FY26 from 6.89% in FY25, indicating margin recovery trajectory
- Longer-term stock CAGR of 15% over 5 years and 11% over 3 years suggests consistent wealth creation above inflation
Bear Case 8
- PE of 45.4x is elevated for a tyre company with only 6% ROE, implying the market is pricing in significant future improvement that may not materialize
- 3-year ROE of just 6% and 5-year ROE of 6% indicate persistently poor capital efficiency well below cost of equity
- Compounded profit CAGR is negative over 3 years (-5%), 5 years (-1%), and 10 years (-9%), showing structural earnings weakness
- Stock trades at 2.72x book value despite delivering only 6% ROE, suggesting stretched valuation relative to returns generated
- Dividend yield of only 0.4% provides minimal income cushion despite the 45.7% payout ratio, reflecting high stock price relative to earnings
- 10-year sales CAGR of only 5% indicates limited long-term revenue scale-up for a company in a growing Indian auto market
- 10-year compounded profit CAGR of -9% means the company has actually destroyed earnings power over a full business cycle
- FY25 net profit was only ₹20.5 Cr on ₹3,254 Cr revenue (net margin under 1%), highlighting vulnerability to input cost spikes
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Positives 1
- Five new retail outlets launched Jun 23
TVS Srichakra opened 5 exclusive Eurogrip Tyres stores in Hyderabad on June 23, 2026, part of a broader plan to strengthen brand presence across key Indian markets.
Neutral 1
- Promoter shares unencumbered Jun 15
Promoter R Naresh declared no new encumbrances on shares for FY ended March 31, 2026, per SEBI regulations.
TL;DR: TVS Srichakra is actively expanding its retail footprint with dedicated Eurogrip stores, signaling confidence in its consumer-facing brand strategy. No material risks surfaced in recent news, and promoter holding remains clean with no encumbrance. The trend is stable with a mild positive tilt from retail expansion, though limited news flow makes it difficult to assess broader momentum.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 702 | 740 | 719 | 765 | 791 | 842 | 803 | 818 | 819 | 926 | 917 | 981 | 1,068 |
| Expenses | 642 | 649 | 650 | 688 | 736 | 783 | 758 | 752 | 771 | 861 | 838 | 894 | 987 |
| Operating Profit | 61 | 91 | 68 | 77 | 55 | 59 | 44 | 67 | 48 | 66 | 78 | 87 | 81 |
| OPM % | 9% | 12% | 10% | 10% | 7% | 7% | 6% | 8% | 6% | 7% | 9% | 9% | 8% |
| Other Income | 3 | -1 | 2 | -6 | 0 | 3 | -5 | -3 | 20 | 0 | -13 | 10 | 13 |
| Interest | 12 | 10 | 10 | 13 | 13 | 13 | 14 | 14 | 14 | 12 | 12 | 12 | 12 |
| Depreciation | 24 | 26 | 27 | 28 | 29 | 31 | 32 | 37 | 34 | 36 | 36 | 37 | 37 |
| PBT | 28 | 54 | 33 | 31 | 12 | 18 | -6 | 12 | 20 | 18 | 17 | 48 | 45 |
| Tax % | 25% | 28% | 28% | 22% | 44% | 43% | 8% | 22% | 36% | 40% | 34% | 25% | 25% |
| Net Profit | 21 | 39 | 24 | 24 | 7 | 10 | -6 | 10 | 13 | 11 | 11 | 36 | 34 |
| EPS in Rs | 27.36 | 51.09 | 31.47 | 31.06 | 8.72 | 13.46 | -7.8 | 12.52 | 16.82 | 14.51 | 14.56 | 47.13 | 44.43 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,176 | 2,185 | 1,961 | 2,152 | 2,431 | 2,104 | 1,939 | 2,543 | 2,985 | 2,926 | 3,254 | 3,643 | 3,892 |
| Expenses | 1,958 | 1,858 | 1,676 | 1,899 | 2,168 | 1,887 | 1,709 | 2,373 | 2,751 | 2,625 | 3,024 | 3,358 | 3,580 |
| Operating Profit | 219 | 326 | 284 | 253 | 263 | 217 | 230 | 170 | 234 | 301 | 230 | 285 | 312 |
| OPM % | 10% | 15% | 14% | 12% | 11% | 10% | 12% | 7% | 8% | 10% | 7% | 8% | 8% |
| Other Income | -7 | 23 | 5 | 15 | 12 | 10 | 5 | 4 | 4 | -2 | -5 | 17 | 11 |
| Interest | 33 | 22 | 22 | 31 | 37 | 39 | 33 | 34 | 44 | 48 | 60 | 57 | 48 |
| Depreciation | 42 | 44 | 56 | 69 | 85 | 100 | 104 | 80 | 92 | 104 | 129 | 142 | 146 |
| PBT | 137 | 284 | 211 | 169 | 153 | 87 | 98 | 59 | 101 | 146 | 37 | 103 | 129 |
| Tax % | 29% | 33% | 29% | 31% | 33% | 6% | 24% | 27% | 23% | 26% | 44% | 31% | — |
| Net Profit | 98 | 190 | 148 | 116 | 103 | 82 | 74 | 43 | 78 | 108 | 21 | 71 | 92 |
| EPS in Rs | 130 | 243 | 193 | 152 | 134 | 108 | 96.54 | 56.77 | 102 | 141 | 26.92 | 93.02 | 121 |
| Div. Payout % | 26% | 25% | 26% | 26% | 30% | 19% | 31% | 29% | 32% | 34% | 63% | 41% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 275 | 404 | 553 | 631 | 721 | 737 | 817 | 963 | 1,027 | 1,104 | 1,176 | 1,183 |
| Borrowings | 274 | 145 | 315 | 312 | 426 | 351 | 208 | 610 | 662 | 842 | 886 | 767 |
| Other Liabilities | 414 | 412 | 515 | 475 | 655 | 520 | 590 | 779 | 757 | 739 | 906 | 1,082 |
| Total Liabilities | 970 | 969 | 1,391 | 1,426 | 1,809 | 1,616 | 1,622 | 2,359 | 2,453 | 2,694 | 2,976 | 3,039 |
| Fixed Assets | 382 | 384 | 532 | 620 | 662 | 687 | 666 | 708 | 905 | 1,084 | 1,167 | 1,161 |
| CWIP | 18 | 44 | 63 | 26 | 34 | 48 | 63 | 226 | 145 | 143 | 98 | 67 |
| Investments | 1 | 49 | 49 | 68 | 97 | 97 | 101 | 254 | 255 | 260 | 392 | 414 |
| Other Assets | 569 | 493 | 748 | 711 | 1,016 | 785 | 793 | 1,171 | 1,149 | 1,207 | 1,319 | 1,397 |
| Total Assets | 970 | 969 | 1,391 | 1,426 | 1,809 | 1,616 | 1,622 | 2,359 | 2,453 | 2,694 | 2,976 | 3,039 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 244 | 400 | 64 | 185 | 64 | 299 | 307 | -62 | 206 | 228 | 197 | 297 |
| Investing | -84 | -120 | -215 | -102 | -120 | -136 | -92 | -282 | -202 | -325 | -154 | -103 |
| Financing | -158 | -271 | 149 | -79 | 52 | -169 | -215 | 348 | 0 | 101 | -47 | -187 |
| Net Cash Flow | 2 | 9 | -3 | 5 | -4 | -5 | 1 | 4 | 4 | 3 | -3 | 7 |
| Free Cash Flow | 158 | 315 | -157 | 81 | -71 | 161 | 210 | -347 | 206 | 228 | 202 | 297 |
| CFO/OP | 130 | 151 | 42 | 92 | 43 | 151 | 142 | -21 | 99 | 88 | 91 | 111 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 38 | 29 | 38 | 41 | 51 | 36 | 46 | 34 | 27 | 35 | 39 | 41 |
| Inventory Days | 74 | 63 | 138 | 95 | 123 | 135 | 149 | 198 | 161 | 159 | 154 | 128 |
| Days Payable | 52 | 34 | 67 | 50 | 83 | 70 | 102 | 102 | 85 | 91 | 97 | 92 |
| Cash Conversion Cycle | 59 | 58 | 109 | 86 | 91 | 101 | 93 | 131 | 102 | 103 | 96 | 77 |
| Working Capital Days | 7 | 5 | 0 | -3 | 4 | 18 | 28 | 36 | 6 | 6 | -13 | -19 |
| ROCE % | 30% | 50% | 32% | 22% | 18% | 11% | 12% | 7% | 9% | 11% | 5% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view TVS Srichakra insights
35 extracted metrics + investor summaries across FY15–FY26.
Documents
1
Clarification sought from TVS Srichakra Ltd
27 Aug - Exchange has sought clarification from TVS Srichakra Ltd on August 27, 2026, with reference to Movement in Volume. 27 Aug - Exchange has sought clarification from TVS Srichakra Ltd on August 27, 2026, with reference to Movement in Volume.
2
Announcement Under Regulation 30 (LODR) - Tax Litigation
8 May - Income tax demand for FY18 cut from ₹29.47 crore to ₹3.11 crore on 29 April 2026. 8 May - Income tax demand for FY18 cut from ₹29.47 crore to ₹3.11 crore on 29 April 2026.
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Qualified borrowings fell from ₹429.47 crore to ₹346.32 crore; ₹83.14 crore repaid in FY25-26. 29 Apr - Qualified borrowings fell from ₹429.47 crore to ₹346.32 crore; ₹83.14 crore repaid in FY25-26.
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Qualified borrowings fell from ₹429.47 crore to ₹346.32 crore; ₹83.14 crore repaid in FY25-26. 29 Apr - Qualified borrowings fell from ₹429.47 crore to ₹346.32 crore; ₹83.14 crore repaid in FY25-26.
5
Announcement under Regulation 30 (LODR)-Press Release / Media Release
27 Apr - Eurogrip Tyres opens 15th signature store in Bahraich, Uttar Pradesh. 27 Apr - Eurogrip Tyres opens 15th signature store in Bahraich, Uttar Pradesh.
Frequently Asked Questions about TVS Srichakra
What does TVS Srichakra Ltd do?
TVSSC belongs to the TVS group of companies. The company is a leading manufacturer of 2W tyres in India and caters to both OEMs and aftermarket segments, and also manufactures OHT for the domestic and export markets. The company has two manufacturing plants, one each in Madurai in Tamil Nadu and ...
Where is TVS Srichakra Ltd (TVSSRICHAK) listed?
TVS Srichakra Ltd trades as TVSSRICHAK on the NSE and under code 509243 on the BSE.
Which sector does TVS Srichakra Ltd belong to?
TVS Srichakra Ltd is classified under the Consumer Discretionary sector, in the Auto Components industry.
What is the market capitalisation of TVS Srichakra Ltd?
TVS Srichakra Ltd has a market capitalisation of ₹3,907 Cr, which places it in the Small Cap band.
What is the PE ratio of TVS Srichakra Ltd?
TVS Srichakra Ltd trades at a PE ratio of 42.66, on earnings per share of ₹129.45, against a book value of ₹1,553.76 per share.
What is the 52-week high and low of TVS Srichakra Ltd?
Over the last 52 weeks TVS Srichakra Ltd has traded between ₹2,871.5 and ₹5,760.
Does TVS Srichakra Ltd pay dividends?
TVS Srichakra Ltd has a dividend yield of 0.72%.
What is the Return on Equity (ROE) of TVS Srichakra Ltd?
TVS Srichakra Ltd reported a return on equity of 5.97%. Its debt-to-equity ratio is 0.64.
Company Information
TVSSC belongs to the TVS group of companies. The company is a leading manufacturer of 2W tyres in India and caters to both OEMs and aftermarket segments, and also manufactures OHT for the domestic and export markets. The company has two manufacturing plants, one each in Madurai in Tamil Nadu and Rudrapur in Uttarakhand.[1]
Website tvstyres.com
CEO Mr. Ramachandhran Naresh
Employees 2,785
Listed 2007-02-13
Face Value ₹ 10
Issued Size 76,57,050
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