history of tvs motors
TRANSCRIPT
Submitted By:-
Naveen Kumar S
(11M009)
History of TVS Motors
TVS Motor Company was incorporated in 1982. It is third largest two-wheeler manufacturer in
India and one among the top ten in the world. TVS Motor is the flagship company of the $4
billion TVS Group. The company manufactures a wide range of two wheelers such as mopeds,
scooters and motorcycles. It has four manufacturing facilities located at Hosur, Mysore,
Himachal Pradesh and Indonesia and a production capacity of 300 thousand units a year. In the
motorcycles segment company it has created brands like TVS Apache, TVS Star and TVS
Flame. In variomatic scooters segment TVS Motor manufactures brands like TVS Scooty Pep +
and TVS Scooty Teenz. It has created brands like TVS XL Super and TVS XL Heavy Duty in
mopeds segment.
Milestones
In the year 1980 TVS Motor launched India’s first two-seater 50cc moped TVS 50.In 1984, the
two-wheeler major became the first Indian company to introduce 100cc Indo-Japanese
motorcycles. In 1994 it launched India’s first indigenous scooterette -- TVS Scooty, a 100cc
model.
Competitors and position of TVS:-
RANK COMPANY SALES VOLUMES(Rs in mill)
1 BAJAJ AUTO 159981.20
2 HERO MOTO CORP 192450.30
3 TVS MOTORS 61794.80
4 MAHARASTRA SCOOTERS 61.96
5 SCOOTERS INDIA 1599.88
6 ATUL AUTO 2015.87
7 KINETIC ENGG 906.89
8 LM L 3450.58
9 MAJESTIC AUTO 1522.57
10 KINETIC MOTORS 4.56
Products of TVS Motors:-
PRODUCTS SALES QUANTITY SALES VALUE %STO
Motorcycles 832567.00 27488.80 40.95
Scooters 466206.00 13406.90 19.97
Mopeds 704557.00 12353.40 18.40
Components 0.00 5402.20 8.05
Three-Wheelers 39257.00 3143.50 4.68
CAPITAL STRUCTURE
To Year
Class Of Share
Authorized Capital
Issued Capital
Paid Up Shares (No’s)
Paid Up Face Value
Paid Up Capital
2011 Equity Share 50 47.51 475087114 1 47.51
2010 Equity Share 25 23.75 237543557 1 23.75
2009 Equity Share 25 23.75 237543557 1 23.75
2008 Equity Share 25 23.75 237543557 1 23.75
2007 Equity Share 25 23.75 237543557 1 23.75
2006 Equity Share 25 23.75 237543557 1 23.75
2005 Equity Share 25 23.75 237543557 1 23.75
2004 Equity Share 25 23.1 231000700 1 23.1
2003 Equity Share 25 23.1 23100070 10 23.1
2002 Equity Share 25 23.1 23100070 10 23.1
2001 Equity Share 25 23.1 23100070 10 23.1
2000 Equity Share 25 23.1 23100070 10 23.1
1999 Equity Share 25 23.1 23100000 10 23.1
1985 Equity Share 10 7.7 7700000 10 7.7
1984 Equity Share 10 1.76 1760000 10 1.76
RATIO ANALYSIS
Mar ' 11 Mar ' 10
Per share ratios
Adjusted EPS (Rs) 4.3 5.08
Dividend per share 1.1 1.2
Operating profit per share (Rs) 6.41 8.81
Free reserves per share (Rs) 19.9 33.89
Profitability ratios
Operating margin (%) 4.92 4.79
Gross profit margin (%) 3.18 2.44
Net profit margin (%) 3.08 1.98
Return on long term funds (%) 19.08 9.85
Leverage ratios
Long term debt / Equity 0.72 1.16
Total debt/equity 0.78 1.16
Owners fund as % of total source 55.99 46.3
Fixed assets turnover ratio 3.13 2.29
Liquidity ratios
Current ratio 1.11 1.13
Current ratio (inc. st loans) 0.99 1.13
Quick ratio 0.59 0.74
Inventory turnover ratio 13.27 17.12
BETA CALCULATION OF TVS MOTORS
Date Open Close CL-OP TVS (X) SENSEX (Y)
2/1/2012 52.5 48.1 -4.4-
8.380952381 -0.107823343/1/2012 48.6 48.65 0.05 0.102880658 1.91041753
4/1/2012 49 48.1 -0.9-
1.836734694 -0.531392223
5/1/2012 48 47.9 -0.1-
0.208333333 -0.2264509
6/1/2012 47.65 46.9 -0.75-
1.573976915 0.4981290877/1/2012 47 47.5 0.5 1.063829787 -0.279992198
9/1/2012 47.6 46.95 -0.65-
1.365546218 -0.16098261310/1/2012 47.5 48.3 0.8 1.684210526 1.67797603811/1/2012 48.6 48.75 0.15 0.308641975 -0.286702868
12/1/2012 48.9 48.2 -0.7-
1.431492843 -0.49437898313/01/12 48.4 49.5 1.1 2.272727273 0.062250032
16/01/12 49.7 48.85 -0.85-
1.710261569 0.63791669417/01/12 49 49.35 0.35 0.714285714 1.199567079
18/01/12 49.3 49.15 -0.15-
0.304259635 -0.30874259719/01/12 49.7 49.95 0.25 0.503018109 0.42156720220/01/12 49.55 51.2 1.65 3.329969728 -0.03583157
23/01/12 52 50.95 -1.05-
2.019230769 0.50824922524/01/12 51.25 51.85 0.6 1.170731707 1.1248476825/01/12 51.8 53.5 1.7 3.281853282 0.04880235
27/01/12 54.15 53.6 -0.55-
1.015697138 0.189810904
30/01/12 53.55 50.9 -2.65-
4.948646125 -1.60310047131/01/12 51.95 52.4 0.45 0.866217517 1.3437206391/2/2012 52.4 52.55 0.15 0.286259542 0.703972842
2/2/2012 53 51.85 -1.15-
2.169811321 -0.0356690853/2/2012 52.35 51.55 -0.8 -1.52817574 0.921277785
6/2/2012 52.85 51.15 -1.7-
3.216650899 -0.195018462
7/2/2012 52 49.7 -2.3-
4.423076923 -1.0738340188/2/2012 49 49.75 0.75 1.530612245 0.4289435679/2/2012 48.2 52.05 3.85 7.987551867 1.03667312610/2/2012 52.05 50.55 -1.5 -2.88184438 -0.386696517
13/02/12 50.55 50.25 -0.3 -0.59347181 0.06271922214/02/12 50.35 51.8 1.45 2.879841112 0.45650869615/02/12 52.8 53.55 0.75 1.420454545 1.1228146216/02/12 53.75 53.75 0 0 -0.04988149
17/02/12 54.25 53.3 -0.95-
1.751152074 -0.22829929321/02/12 53.9 53.25 -0.65 -1.20593692 0.682265309
22/02/12 53.5 50.6 -2.9-
5.420560748 -1.869138661
23/02/12 50.75 50.45 -0.3-
0.591133005 -0.269482302
24/02/12 50.9 49.1 -1.8-
3.536345776 -0.859781592
27/02/12 49.65 46.85 -2.8-
5.639476334 -2.94539306728/02/12 47.45 48.1 0.65 1.369863014 1.060181441
29/02/12 49 47.2 -1.8-
3.673469388 -0.933318378
1/3/2012 47.9 47.3 -0.6-
1.252609603 -0.737526405
2/3/2012 46.5 46.3 -0.2-
0.430107527 -0.139230264
3/3/2012 46.8 46.3 -0.5-
1.068376068 -0.065048132
5/3/2012 46.55 44.35 -2.2-
4.726100967 -1.338472431
6/3/2012 45 43.5 -1.5-
3.333333333 -0.9422240997/3/2012 43.45 43.1 -0.35 -0.80552359 0.1070812599/3/2012 44 44.6 0.6 1.363636364 1.024020797
12/3/2012 45.3 44.4 -0.9-
1.986754967 -1.037750181
13/03/12 45 44.8 -0.2-
0.444444444 0.754458511
14/03/12 45.5 44.95 -0.55-
1.208791209 -0.465751827
15/03/12 45 43.5 -1.5-
3.333333333 -1.345102515
16/03/12 43.75 43.7 -0.05-
0.114285714 -1.079526823
19/03/12 43.95 42.7 -1.25-
2.844141069 -1.472209689
20/03/12 42.5 41.7 -0.8-
1.882352941 0.04211708521/03/12 42 42.35 0.35 0.833333333 1.737166756
22/03/12 42.7 41.55 -1.15-
2.693208431 -2.21533419123/03/12 41.85 41.7 -0.15 - 0.602744743
0.35842293926/03/12 41.7 39.7 -2 -4.79616307 -1.86913145
27/03/12 40.5 38.8 -1.7-
4.197530864 0.280258212
28/03/12 39 37.9 -1.1-
2.820512821 -0.654850045
29/03/12 37.2 37.15 -0.05-
0.134408602 0.11009486630/03/12 37.95 41 3.05 8.036890646 1.6754287012/4/2012 41.95 43.15 1.2 2.860548272 0.276477972
3/4/2012 43.95 42.3 -1.65-
3.754266212 0.120674484/4/2012 41.7 42.95 1.25 2.997601918 -0.383062747
9/4/2012 42.7 41.2 -1.5-
3.512880562 -1.065737727
10/4/2012 41.45 40.95 -0.5-
1.206272618 -0.089343344
11/4/2012 41 40.3 -0.7-
1.707317073 0.42882267612/4/2012 40.85 41.65 0.8 1.958384333 0.322685764
13/04/12 41.6 40.35 -1.25-
3.004807692 -0.80109977916/04/12 40.25 41.45 1.2 2.98136646 0.604650317
17/04/12 41.5 41.3 -0.2-
0.481927711 0.912564815
18/04/12 41.7 41.25 -0.45-
1.079136691 -0.314490642
19/04/12 41.5 41.15 -0.35-
0.843373494 0.4062436
20/04/12 41.25 40.65 -0.6-
1.454545455 -0.491875013
23/04/12 40.85 39.05 -1.8-
4.406364749 -1.447333834
24/04/12 39.1 38.8 -0.3-
0.767263427 0.30627085825/04/12 38.75 39.9 1.15 2.967741935 -0.43104599326/04/12 40 39.25 -0.75 -1.875 -0.351055377
27/04/12 39.6 38.25 -1.35-
3.409090909 -0.06497373328/04/12 38.35 39.05 0.7 1.825293351 0.31019849830/04/12 39 41 2 5.128205128 0.717047648
2/5/2012 42.05 41.5 -0.55-
1.307966706 -0.3973304833/5/2012 41.25 39.2 -2.05 -4.96969697 -0.698133428
4/5/2012 39 38.7 -0.3-
0.769230769 -1.381392227/5/2012 38.8 39.4 0.6 1.546391753 1.7584973688/5/2012 39.85 37.75 -2.1 - -2.184537332
5.269761606
9/5/2012 37.65 37.05 -0.6-
1.593625498 0.262648595 Std.Dev 2.770563835 0.942102323 variance 7.676023966 0.887556787
covariance 1.651457791
correlation 0.632704965
beta 1.860678455
CALCULATION OF COST OF EQUITY
Ke = Rf + (Rm – Rf) β
GIVEN
Rf = 8.294% Rm = 17% β = 1.8606
Ke = 8.294 + (14 – 8.294) 1.8606
Ke = 8.294 + 10.616
Ke = 18.91%
SIMPLE MOVING AVERAGE
MACD
Interpretation:- As the MACD of 12 , 26 days is -2.66 and EMA is -2.24 of 9 days the divergence is 0.38 which states that EMA is greater than MACD so we can conclude that this is the right time to purchase the shares.
Relative Strength Index
Interpretation: - As we could see when RSI is near 70 bar slab TVS stock reaches a new high and when the RSI falls be-low the 50 slab the stock price of TVS decreases so, by this we can conclude that when the RSI reaches below 50 we can pur-chase the stock and when RSI crosses 70 slab it’s the time to sell the stock.