TVS MOTOR COMPANY TVS ~

TVS Motor Company Limited, Registered Office : 'Chaitanya· No.12, Khader Nawaz Khan Road,
Chennai - 600006, Tamilnadu, India. Telephone : +91-44-2S332115 Fax: +91-44-28332113

6th August 2024

BSE Limited, National Stock Exchange of India Ltd

Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor,
Dalal Street, Bandra-Kurla Complex,
Mumbai 400 001. Bandra (E), Mumbai 400 051.
Scrip code: 532343 Scrip code: TVSMOTOR

Dear Sir(s)/Madam,

Sub: Unaudited Standalone and Consolidated financial results for the quarter
ended 30th June 2024 (limited reviewed)

Ref : Our intimation letter dated 8th July 2024

In terms of the provisions of Regulation 30 (read with Part A of Schedule III) and Regulations
33 and 52 of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“Listing Regulations”), the Board of Directors at its meeting
held today, have inter-alia, approved the unaudited Standalone and Consolidated financial
results along with the Limited Review Report for the quarter ended 30th June 2024 and we
are enclosing the same for your information and records (Annexure 1).

We are also enclosing the following along with the financial results:

a. Press release issued by the Company (Annexure 2);

b. Presentation on financial performance of the Company (Annexure 3);
c. Security Cover Certificate in terms of Regulation 54 of the Listing Regulations
(Annexure 4); and
d. A statement in terms of Regulations 52(7) and 52 (7A) of the Listing Regulations
(Annexure 5)

The meeting of the Board of Directors commenced at 12.00 noon and concluded at 01.30 P.M.

Thanking You

Yours faithfully

For TVS MOTOR COMPANY LIMITED

Digitally signed by
KELLIYA KELLIYA
SUBRAMANIA SUBRAMANIAN
SRINIVASAN
N SRINIVASAN Date: 2024.08.06
13:37:55 +05'30'
K S Srinivasan
Company Secretary
Encl: a/a

Website : www.tvsmotor.com Email : contactus@tvsmotor.com CIN : L35921TN1992PLC022845

 23, C.P. Ramaswamy Road
SUNDARAM:& SRINIVASAN Alwarpet, Chennai - 600 018
CHARTERED ACCOUNTANTS
4988762
Offices: Chennai - Mumbai - Bangalore - Madurai
Telephone 2498 8463
-{]
4210 6952
E-Mail: sundaramandsrinivasan1948@gmail.com
Website: www.sundaramandsrinivasan.com

Independent Auditor's Review Re port on the Quarterly Unaudited Standalone

Financial Re sults of the Company Pursuant to the Regulation 33 and 52 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 201 5, as
amended

Review Report to
The Board of Directors
TVS Motor Company Limited

1. We have reviewed the accompanying statement of unaudited standalone

financial results of TVS Motor Company Limited (the "Company") for the quarter
ended June 30, 2024 (the "Statement") attached herewith, being submitted by
the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended (the "Listing Regulations").

2. The Company's Management is responsible for the preparation of the Statement

in accordance with the recognition and measurement principles laid down in
Indian Accounting Standard 34, (Ind AS 34) "Interim F-inancial Reporting"
prescribed under Section 133 of the Companies Act, 2013 as amended, read
with relevant rules issued thereunder and other accounting principles generally
accepted in India and in compliance with Regulation 33 and 52 of the Listing
Regulations. The Statement · has been approved by the Company's Board of
Directors. Our responsibility isto express a conclusion on the Statement based
on our review.

3. We conducted our review of the Statement in accordance with the Standard on

Review Engagements (SRE) 2410, "Review of Interim Financial Information
Performed by the Independent Auditor of the Entity" issued by the Institute of
Chartered Accountants of India. A review of interim financial information
consist matters and inquiries, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A
review is substantially less in scope than an audit conducted in accordance with
Standards on Auditing and consequently does not enable us to obtain
assurance that we would become aware of all significant matters that might be
•~---•-u
· dentified in an audit. Accordingly, we do not express an audit opinion.
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SUNDARAM & SRINIVASAN
CHARTERED ACCOUNTANTS
Offices: Chennai - Mumbai - Bangalore - Madurai

4. Based on our review conducted as above, nothing has come to our attention
that causes us to believe that the accompanying Statement, prepared in
accordance with the recognition and measurement principles laid down in the
aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of
the Companies Act, 2013 as amended, read with relevant rules issued
thereunder and other accounting principles generally accepted in India, has not
disclosed the information required to be disclosed in terms of Regulation 33 and
52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations
2015 , as amended, including the manner in which it is to be disclosed, or that
it contains any material misstatement.

For Sundaram & Srinivasan

Chartered Accountants
FR :004207S

Partner
Date: 06~ August 2024 Membership Number: 211-785
Place: Bengaluru UDIN: 24211785BKCSPl5772
 TVS MOTOR COMPANY LIMITED
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 rvs ;A._
Website:www.tvsmotor.com Telephone No. (044) 28332115 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2024
( Rs. in Crores)
Quarter Ended Year ended
s.
No 30.06.2024 31.03.2024 30.06.2023 31.03.2024
Unaudited Audited
1 Sales in Numbers 10,87, 175 10,62,529 9, 53, 244 41,90,994
2 Revenue from Operations 8,375.59 8,168.84 7,217.91 31,776.37
3 other income 36.29 ( 28.67) 57.56 148.53
Total Income 8,411.88 8, 140.17 7, 275.47 31,924.90
4 Expenditure
a) Cost of materials consumed 5,940.75 5,968.91 5,380.80 23,244.16
b) Purchase of stock-in-trade 92.53 91.98 97.76 389.37
c) Changes in inventories of finished goods, work-in-process and stock-in-trade (52.89) (116.94) (96.75) (204.56)
d) Employee benefits expense 478.77 420.54 378.86 1,595.87
e) Finance cost 37.22 37.21 47.40 181.63
f) Depreciation and amortisation expense 176.33 188.67 163.55 700.35
g) other expenses 956.26 878.17 693.49 3,237.42
Total 7,628.97 7,468.54 6,665.11 29, 144.24

5 Profit / (Loss) before Exceptional items (2+3-4) 782.91 671.63 610.36 2,780.66
6 Exceptional Items - (Gain)/ Loss - - - -
7 Profit/ (Loss) before tax (5-6) 782.91 671.63 610.36 2,780.66
8 Tax expense/ (Credit)
a) Current tax 204.57 201.59 149.46 702.08
b) Deferred tax 1.02 (15.39) (6.77) ( 4.42)
Total tax expense/ (Credit) 205.59 186.20 142.69 697.66
9 Profit/ (Loss) for the period (7-8) 577.32 485.43 467.67 2,083.00
10 other Comprehensive Income /(Loss) (net of tax)
a) Items that will not be reclassified to profit or loss (19.72) (9.86) {28.19) (14;62)
b) Items that will be reclassified to profit or loss 4.20 (2.41) 1.02 (5.12)
Total other Comprehensive Income/ (Loss) (net of tax) (15.52) (12.27) (27.17) (19.74)
11 Total Comprehensive Income/ (Loss) for the period (9+10) 561.80 473.16 440.50 2,063.26
12 Paid up equity share capital (Face value of Re.1/- each) 47.51 47.51 47.51 47.51
13 Reserve excluding Revaluation Reserves 7,683.53
14 Earnings Per Share (Face value of Re. 1/- each) (not annualised)
(i) Basic (in Rs.) 12.15 10.22 9.84 43.84
(ii) Diluted (in Rs. ) 12.15 10.22 9.84 43.84
Notes:
1 During the quarter, the Company has made the following investments in its subsidiaries:
- Rs.163.58 Crores in 1VS Motor (Singapore) Pte Limited, Singapore.
- Rs.282.67 Crores in 1VS Credit Services Limited, Chennai.
2 Other income for the quarter ended 30th June 2024 includes Rs,28.48 Crores bE;ing gain on fair valuation of an investment held by the Company.
3 The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held
on 6th August 2024. The results have been subjected to limited review by the Statutory Auditors of the Company.
4 The figures of the preceding 3 months ended 31st March 2024 are the balancing figures between the audited figures in respect of the full financial year and the
published year to date figures upto the third quarter of the preceding financial year, which were subjected to limited review.
5 Figures for the previous periods have been regrouped, wherever necessary, to conform to the current period's classification.

For TV~ ~ a~ Limited

Place: Bengaluru "'~ - c:P

"b'-'
Date: 06-08-2024 Prof. Sir Ralf Diefur Speth
Chairman

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No:

800011
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No, (044) 28332115 Email:contactus@tvsmotor.com rvs -~
CIN:L35921TN1992PLC022845
Additional disclosures as per Regulations 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

1. Pursuant to Non-Convertible Debentures (NCD) of TVS MOTOR COMPANY LIMITED being listed, below are the details on a Standalone basis as per Listing Regulations:
Quarter ended Year ended
Particulars
30.06.2024 31.03.2024 30.06.2023 31.03.2024
Net Debt to Equity (Times)
0.1 0.1 0.4 0.1
[ (Total borrowings - Cash and Cash equivalents) / Equity ]
Debt service coverage ratio (Times)
[ Earnings before Interest, Tax and Exceptional Items/ (Interest Expense + Principal repayments of long term 6.5 5.2 1.2 2.5
loan made durina the oeriod excludina oreoavment) 1
Interest service coverage ratio (Times)
28.5 25.1 16.8 21.6
r Earninqs before Interest Tax and Exceotional Items / Interest Exoense l
Outstanding redeemable preference shares (Qty/ Value) NOT APPLICABLE

Capital Redemption Reserve NOT APPLICABLE

Debenture Redemption Reserve NOT APPLICABLE
Net Worth - Rs. In Crores
8,283.33 7,725.95 6,478.76 7,725.95
Networth as per Section 2(571 of the Comoanies Act 2013.
Net profit after tax - Rs. In Crores 577.32 485.43 467.67 2,083.00
Earnings per share - Rs. Per share (Basic & Diluted - Not annualised) 12.15 10.22 9.84 43.84
Current ratio (Times)
0.6 0.6 0.7 0.6
lrcurrent Assets / Current Liabilities 1
Long term debt to working capital (Times)
[Non Current borrowing including current maturity-/(Current Asset - Current-Liabilities excluding current maturity
of Lona term borrowina)l
- - - -
Bad debts to Accounts receivable ratio (Times)
Ir Bad debts written off I Accounts Receivables 1 - - - -
Current liability ratio (Times)
0.8 0.8 0.7 0.8
!(Current Liabili tv / Total Liabilitvl
Total debts to Total assets ratio (Times)
0.1 0.1 0.2 0.1
r (Non current borrowinq includina current maturitv + Current borrowinal / Total Assets l
Debtors Turnover (Times)
25.4 27.9 28.1 27.9
r Annualised Turnover / Averaae Debtors l
Inventory Turnover (Times)
16.9 18.0 15.5 18.0
r Annualised Cost of aoods sold / Averaae Inventorv 1
Operating Margin (%)
11.5 11.3 10.6 11.1
(Operating EBITDA / Turnover)
Net Profit Margin in %
6.9 5.9 6.5 6.6
(Net profit after tax / Turnover)
2. Pursuant to Commercial papers of TVS MOTOR COMPANY LIMITED being listed, below are the details on a standalone basis as per Listing Regulations:

i. Credit rating issued by CARE for Commercial paper (CP) A1+

ii. Previous due dates for payment of interest / principal of CP repayment NOT APPLICABLE

iii .. Details of Commercial Papers issue~ during the quarter NOT APPLICABLE
iv. Next due date for payment of interest / principal of Commercial Paper repayment NOT APPLICABLE
3. The Company has maintained asset cover sufficient to discharge the principal amount at all times for the non-convertible debt securities issued.
Note: Figures for the previous periods have been regrouped, wherever necessary, to conform to the current period's classification.

- For TVS Motor Company Limited

cOMP.At

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Place: Bengaluru
b CHENNAI r-)
~ 600006 ~

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Date: 06-08-2024 ~ Prof. Sir Ralf Dieter Speth
Chairman
 23, C.P. Ramaswamy Road
SUNDARAM & SRINIVASAN Alwarpet, Chennai - 600 018
CHARTERED ACCOUNTANTS
4988762
Offices: Chennai - Mumbai - Bangalore - Madurai
Telephone 498 8463
-{]
210 6952
E-Mail: sundaramandsrinivasan1948@gmail.com
Website: www.sundaramandsrinivasan.com

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated

Financial Res ults of the Company Pursuant to th e Regulation 33 and 52 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended

Review Report to
The Board of Directors
TVS Motor Company Limited

1 . We have reviewed the accompanying Statement of unaudited Consolidated

Financial Results of TVS Motor Company Limited (the "Holding Company") and
its subsidiaries (the Holding Company and its subsidiaries together referred to
as "the Group"), which includes its share of net loss after tax and total
comprehensive income of the associates for the quarter ended June 30, 2024
(the "Statement") attached herewith, being submitted by the Holding Company
pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended (the
"Listing Regulations").

2. The Holding Company's Management is responsible for the preparation of the

Statement in accordance with the recognition and measurement principles laid
down in Indian Accounting Standard 34, (Ind AS 34} "Interim Financial
Reporting" prescribed under Section 133 of the Companies Act, 2013 as
amended, read with relevant rules issued thereunder and other accounting
principles generally accepted in India and in compliance with Regulation 33 and
52 of the Listing Regulations. The Statement has been approved by the Holding
Company's Board of Directors. Our responsibility is to express a conclusion on
the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on

Review Engagements (SRE} 2410 "Review of Interim Financial Information
Performed by the Independent Auditor of the Entity", issued by the Institute of
Chartered Accountants of India. A review of interim financial information
consists of making inquiries, primarily of parent's persons responsible for
financial and accounting matters and applying analytical and other review
rocedures. A review is substantially less in scope than an audit conducted in
cordance with Standards on Auditing and consequently does not enable us
btain assurance that we would become aware of all significant matters that
6000
 SUNDARAM & SRINIVASAN
CHARTERED ACCOUNTANTS
Offices: Chennai - Mumbai - Bangalore - Madurai

might be identified in an audit. Accordingly, we do not express an audit opinion.

We have also performed procedures in accordance with the circular issued by
the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended, to the extent applicable

4. Based on our review conducted and procedures performed as stated in

paragraph 3 above and based on the consideration of the review reports of other
auditors referred to in paragraph 6 below, nothing has come to our attention that
causes us to believe that the accompanying Statement, prepared in accordance
with the recognition and measurement principles laid down in the aforesaid
Indian Accounting Standard and other accounting principles generally accepted
in India, has not disclosed the information required to be disclosed in terms of
Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended, including the manner in which
it is to be disclosed, or that it contains any material misstatement.

5. The Statement includes the results of the following entities:

List of Subsidiaries of TVS Motor Company Limited

PT. TVS Motor Company Indonesia
TVS Motor-(Singapore) Pte. Limited
TVS Motor Company (Europe) BV
TVS Digital Limited (Formerly known as TVS Housing Limited)
Sundaram Auto Components Limited
TVS Motor Services Limited
TVS Credit Services Limited
TVS Electric Mobility Limited

Subsidiaries of TVS Credit Services Limited

Harita ARC Services Private Limited
Harita Two-Wheeler Mall Private Limited
TVS Housing Finance Private Limited

Subsidiaries of TVS Motor (Singapore) Pte. Limited.

The Norton Motorcycle Co. Ltd. (Formerly known as Project 303 Bidco Ltd)
TVS Digital Pte Ltd
The GO AG
·ss E-Mobility Group (Holding) AG
New O Limited, UK
~'k~ rity Motor GmbH
*~HENN
60001
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 SUNDARAM & SRINIVASAN
CHARTERED ACCOUNTANTS
Offices : Chennai - Mumbai - Bangalore - Madurai

Subsidiary of the GO AG, Zurich

EGO Movement Stuttgart GmbH

Subsidiary company of Swiss E-Mobility (Grou p) Holding AG, Switzerland

Swiss E-Mobility Group (Schweiz) AG Switzerland, Zurich
Colag E-Mobility GmBH, Germany, Nuremberg
Alexand'Ro Edouard'O Passion Velo Sari, Switzerland

Associates of TVS Motor Company Limited

Emerald Haven Realty Ltd. (ceased to be an associate from 14th June 2023)
Ultraviolette Automotive Private Limited
Tagbox Solutions Private Limited (ceased to be associate from 30th March 2024)
DriveX Mobility Private Limited
Indian Foundation for Quality Management (with effect from 15th February
2024)

Associates of TVS Motor (Singapore) Pte. Ltd.

Killwatt GmbH, (from 14th April 2023)
ION Mobility Pte Limited (with effect from 14th March 2024)

Associates of TVS Digital Pte. Ltd.

Predictronics Corp.
Tag box Pte Ltd
Altizon Inc.
Scienaptic Systems Inc

6. We did not review the interim financial information of 5 subsidiaries included in

the consolidated unaudited financial results, whose interim financial
information reflect total revenues of Rs. 200.96 Crores, total net profit after tax
of Rs. 5.23 Crores, total comprehensive income of Rs. 5.23 Crores, for the
quarter ended 30th June 2024. This financial information have been reviewed by
other auditor's whose reports have been furnished to us by the Management and
our conclusion on the Statement, in so far as it relates to the amounts and
disclosures included in respect of these subsidiaries, is based solely on the
reports of the other auditors and the procedures performed by us as stated in
,_.__ paragraph 3 above.

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No: 23 ~.-
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SUNDARAM & SRINIVASAN
CHARTERED ACCOUNTANTS
Offices: Chennai - Mumbai - Bangalore - Madurai

7. The consolidated unaudited financial results include the interim financial

information of 15 subsidiaries which have not been reviewed by their auditors
and are based solely on management certified accounts, whose financial
information reflect total revenue of Rs. 456.11 Crores, total net loss after tax of
Rs. 214.34 Crores and total comprehensive Loss of Rs. 225. 78 Crores for the
quarter ended 30th June 2024. The consolidated unaudited interim financial
results also include the Group's share of net loss after tax of Rs. 18.03 Crores
and total comprehensive Loss of Rs. 18.03 Crores for the quarter ended 30th
June 2024, respectively, as considered in the consolidated unaudited interim
financial results, in respect of 9 associates based on their interim financial
information which have not been reviewed by their auditors and are based solely
on management certified accounts. The financial information of subsidiaries
and associates located outside India have been prepared in accordance with
accounting principles generally accepted in their respective countries. The
Parent Company's Management has converted this financial information from
accounting principles generally accepted in their respective countries, to Indian
Accounting Standards {Ind AS) prescribed under Section 133 of the Companies
Act, 2013 and other accounting principles generally accepted in India. We have
reviewed these conversion adjustments made by the Parent Company's
Management. Our conclusion in so far as it relates to such subsidiaries and
associates located outside India is based on the aforesaid conversion
adjustments prepared by the Parent Company's Management and reviewed by
us. According to the information and explanations given to us by the
Management, this financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For Sundaram & Srinivasan

Chartered Accountants
FRN:004207S

LJ~
ftL
Partner
th
Date: 06 August 2024 Membership Number: 211785
Place: Bengaluru UDIN: 24211785BKCSPJ1914
 TVS MOTOR COMPANY LIMITED
rvs ~
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2024
( Rs. in Croresl
Quarter Ended Year ended
s. Particulars
No 30.06.2024
31.03.2024 30.06.2023 31.03.2024
Unaudited Audited
1 Revenue from Operations 10,406.86 10,042.47 9,055.51 39,144.74
2 1-::::
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_ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ __ _ _ _+----:-:---:-:-4.:..:o:. .7
:. :~7- + - - - - - ( ~4:.=.3.:..:
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54.:...+- ---____:::l~05::..:·~82==--1
Total Income 10,447.63 9,998.94 9,142.05 39,250.56
3 Expenditure
a) Cost of materials consumed 6,087.18 6,099.49 5,500.71 23,717.91
b) Purchase of stock-in-trade 280.30 176.46 459.84 1,011.69
c) Changes in inventories of finished goods, work-in-process and stock-in-trade (94.45) (130.35) (272.47) (324.35)
d) Employee benefits expense 943.46 875.20 820.75 3,385.19
e) Finance cost 502.62 512.96 437.05 1,927.72
f) Depreciation and amortisation expense 246.50 268.71 226.86 975.12
q) Other expenses 1,725.46 1,536.70 1,332.09 5,810.89
Total 9;691.07 9,339.17 36,504.17

4 Profit/ (Loss) before Share of Profit /(Loss) of Associates and Exceptional items
(1+2-3) 756.56 659.77 637.22 2,746.39
5 Share of profit/(loss) of Associates (18.03) (9.38) (10.69) (43.47)
6 Profit/ (Loss) before Exceptional items (4+5) 738.53 650.39 626.53 2,702.92
7 Exceptional Items - (Gain) / Loss
8 Profit/ (Loss) before tax (6-7) 738.53 650.39 626.53 2,702.92
9 Tax expense/ (Credit)
a) Current tax 281.20 169.97 189.21 1,012.63
b) Deferred tax (27.49) 68.89 (4.15) (88.25)
Total tax expense/ (Credit) 253.71 238.86 185.06 924.38
10 Profit/ (Loss) for the period (8-9) 484.82 411.53 441.47 1,778.54
11 Other Comprehensive Income/ (Loss), net of tax
a) Items that will not be reclassified to profit or loss (19.72) (14.85) (28.81) (24.16)
b) Items that will be reclassified to profit or loss (9.98) (24.03) (18.99) (29.31)
Total Other Comprehensive Income/ (Loss), net of tax (29.70) (38.88) (47.80) (53.47)
12 Total Comprehensive Income/ (Loss) for the period (10+11) 455.12 372.65 393.67 1,725.07
13 Net Profit/ (Loss) attributable to
a) Owners of the Company 460.88 386.98 434.30 1,686.37
b) Non controlling interest 23.94 24.55 7.17 92.17
14 Other Comprehensive income/ (Loss) attributable to
a) Owners of the Company (29.12) (38.39) (47.30) (47.54)
b) Non controlling interest (0.58) (0.49) (0.50) (5.93)
15 Total Comprehensive income/ (Loss) attributable to
a) Owners of the Company 431.76 348.59 387.00 1,638.83
b) Non controlling interest 23.36 24.06 6.67 86.24
16 Paid up equity share capital (Face value of Re.1/- each) 47.51 47.51 47.51 47.51
17 Reserve excluding Revaluation Reserves 6,736.00
18 Earnings Per Share (Face value of Re. 1/- each) (not annualised)
(i) Basic (in Rs.) 9.70 8.15 9.14 35 .50
(ii ) Diluted (in Rs. ) 9.70 8.15 9.14 35 .50
Notes:

1 The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held
on 6th August 2024. The results have been subjected to limited review by the Statutory Aud itors of the Company.
2 Other income for the quarter ended 30th June 2024 includes Rs.28.48 Crores being gain on fair valuation of an investment held by the Company.
3 The figures of the preceding 3 months ended 31st March 2024 are the balancing figures between the audited figures in respect of the full financial year and the
published year to date figures upto the third quarter of the preceding financial year, which were subjected to limited review.
4 Figures for the previous periods have been regrouped, wherever necessary, to conform to the current period's classification .

-
cOMp'9 For TVS Motor Com~ any Limited

Place: Bengaluru
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CHENNAI C)
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Date: 06-08-2024 Prof. Sir Ralf Dieter Speth
Chairman
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 TVS ~
Website:www.tvsmotor.com Telephone No. {044) 28332115 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH JUNE 2024

{Rs. in Crores)
Quarter Ended / As at Year ended/ As at
S. No. Particulars 30.06.2024 31.03.2024 30.06.2023 31.03.2024
Unaudited Audited
1 Segment Revenue and Other income
a) Automotive Vehicles & Parts 8,721.33 8,410.38 7,697.38 33,188.35
b) Automotive Components 200.92 202.01 188.92 764.72
c) Financial services 1,635.25 1,495.25 1,353.52 5,791.84
d) Others - - 0.02 0.05

TOTAL 10,557.50 10,107.64 9,239.84 39,744.96

Less: Inter-Segment Adjustment 109.87 108.70 97.79 494.40
Revenue and Other income 10,447.63 9,998.94 9,142.05 39,250.56

2 Segment Results
Profit/ (Loss) before tax and interest
a) Automotive Vehicles & Parts 589.24 538.04 537.76 2,222.28
b) Automotive Components 9.39 13.76 9.09 40.06
c) Financial services 215.90 174.09 156.07 758.10
d) Others - - 0.01 0.03

TOTAL 814.53 725.89 702.93 3,020.47

Less: i) Finance cost 57.97 66.12 65.71 274.08
ii) Other unallocable expenditure
net of unallocable income - - - -

Share of profit/(loss) of Associates (18.03) (9.38) (10.69) (43.47)

Profit / {Loss) before tax 738.53 650.39 626.53 2,702.92

3 Segment Assets
a) Automotive Vehicles & Parts 13,091.38 13,141.28 12,318.50 13,141.28
b) Automotive Components 396.04 395.41 396.09 395.41
c) Financial services 30,087.38 28,683.77 25,762.73 28,683.77
d) Others - - 2.40 -
Segment Assets 43,574.80 42,220.46 38,479.72 42,220.46

4 Segment Liabilities
a) Automotive Vehicles & Parts 10,118.07 10,176.91 10,006.67 10,176.91
b) Automotive Components 245.14 255.12 276.76 255.12
c) Financial services 25,200.41 24,277.32 22,090.59 24,277.32
d) Others - - 1.49 -

Segment Liabilities 35,563.62 34,709.35 32,375.51 34,709.35

Note:
1 The Company on standalone basis is having operations in (a) Automotive Undertaking - Automotive Vehicles & Parts and related investments and
(b) Financial Undertaking - Financial Services and Investments. Accordingly, the Company operates in three verticals viz., (a) Automotive Vehicles &
Parts business and related investments, (b) Investments held in Automotive Components business and (c) Investments held in financial services,
the same is reflected in the above segmental reporting.
2 Figures for the previous periods have been regrouped, wherever necessary, to conform to the current period's classification.

-
For TVS ~ o ~~ mited

Place: Bengaluru \ - - a,;

- .,l l --
Date: 06-08-2024 Prof. Sir Ralf Dieter Speth
Chairman
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Email:contactus@tvsmotor.com TVS ~
CIN:L35921TN1992PLC022845
Additional disclosures as per Regulations 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

1. Pursuant to Non-Convertible Debentures (NCD) of TVS MOTOR COMPANY LIMITED being listed, below are the details on a Consolidated basis as per Listing Regulations:
Quarter ended Year ended
Particulars
30.06.2024 31.03.2024 30.06.2023 31.03.2024
Net Debt to Equity (Times)
3.2 3.4 3.7 3.4
[ (Total borrowings - cash and cash equivalents) / Equity J
Debt service coverage ratio (Times) (Excluding NBFC Subsidiary)
[ Earnings before Interest, Tax and Exceptional Items / (Interest Expense + Principal repayments of long term 7.7 3.3 0.9 1.5
loan made durina the oeriod excludina oreoavment) 1
Interest service coverage ratio (Times) (Excluding NBFC Subsidiary)
13.5 10.6 9.2 10.5
f Earninqs before Interest Tax and Exceptional Items / Interest Exoense 1
Outstanding redeemable preference shares (Qty / Value) NOT APPLICABLE

Capital Redemption Reserve NOT APPLICABLE

Debenture Redemption Reserve NOT APPLICABLE
Net Worth - Rs. In Crores
7,180.46 6,751.08 5,631.98 6,751.08
Networth as oer Section 2(57) of the Companies Act 2013.
Net profit after tax - Rs~In Crores 484.82 411.53 441.47 1,778.54
Earnings per share - Rs. Per share (Basic & Diluted - Not annualised) 9.70 8.15 9.14 35.50
Current ratio (Times)
1.0 1.0 1.0 1.0
f Current Assets / Current Liabilities 1
Long term debt to working capital (Times)
[Non Current borrowing including current maturity /(Current Asset - Current Liabilities excluding current maturity 2.4 2.4 2.9 2.4
of Lona term borrowina) l
Bad debts to Accounts receivable ratio (Times)
f Bad debts written off I Accounts Receivables l - - - -
Current liability ratio (Times)
0.6 0.6 0.6 0.6
(Current Liabilitv / Total Liabilitv)
Total debts to Total assets ratio (Times)
0.6 0.6 0.6 0.6
f (Non current borrowinq includinq current maturity+ Current borrowina ) / Total Assets l
Debtors Turnover (Times)
28.2 25.3 26.3 25.3
f Annualised Turnover I Average Debtors l
Inventory Turnover (Times)
12.2 11.7 10.7 11.7
r Annualised Cost of aoods sold / Averaae Inventorv l
Operating Margin {%)
9.8 10.3 9.3 9.9
(Operating EBITDA / Turnover)
Net Profit Margin (%)
4.7 4.1 4.9 4.5
(Net profit after tax/ Turnover)
Note: Figures for the previous periods have been regrouped, wherever necessary, to conform to the current period's classification.

-
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111".L For TVS Motor Company Limited

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~ 600006 ~
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~~prNewNo:~~
I Old No: 23. Place: Bengaluru 'u>_,i . ~....,
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el CPRROAD, *
Date: 06-08-2024 ,./. * 0 Prof. Sir Ralf Dieter Speth
CHENNAI
600018. - Chairman
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 TVS ~ -
Website:www.tvsmotor.com Telephone No. (044) 28332115 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845

Annexure 1 : Security Cover Certificate As Per Regulation 54(3) of the Securities and Exchange Board Of India ( Listing Obligations and Disclosure Requirements)Regulation,2015 as on June 30,2024 (Rs. In crores)

Column A Column B ColumnC Column D Column E Column F ColumnG ColumnH Column I ColumnJ ColumnK Columnl ColumnM Column N ColumnO

Assets not Elimination

Exclusive Exclusive Pari- Passu Pari- Passu Pari- Passu
offered as (amount in (Total C to H) Related to only those items covered by this certificate
Charge Charge Charge Charge Charge
Security negative)

carrying /book value Carrying

Description of Assets shared by
Other assets for exclusive charge value/book
asset for which pari passu debt Debt amount Market
Particulars Debt for Debtfo.r on which Market Value assets where market value for pari
this certificate holder (includes considered more value for
which this Other which this there is pari- for Assets value is not passu charge Total
relate debt for which than once (due to pari
certificate Secured certificate Passu charge charged on ascertainable or assets where Value(=K+L+
this certificate is exclusive plus passu
being Debt being (excluding Exclusive applicable (For Eg. market value is M+N)
issued & other pari passu charge
issued issued items covered basis Bank Balance, DSRA not
debt with pari- charge) assets
in column F) market value is not ascertainable or
passu charge)
applicable) applicable

Book
Book Value Yes/No Book Value Book Value Relating to Column F
Value
ASSETS
I
Prooertv. Plant and Eouioment
ca oital Work-in- Prooress
Ria ht of Use Assets
Goodwill
Intanoible Assets
Intanaible Assets under Develooment
Investments
Loans NIL
Inventories
Trade Receivables
Cash and Cash Eauivalents
Bank Balances other than Cash and Cash
Eauivalents
Others

Total - - - - - - - - - - - - - -
LIABILITIES
Debt securities to which this certificate
-
oertains
Other debt sharing pari -passu charge with
-
above debt
Other Debt ( ECB+ Sec) -
Subordinated debt -
Borrowinos -
NIL
Bank (TL) -
Debt Securities ( PDil -
Others ( CP) -
Trade payables -
Lease Liabilities -
Provisions r Incl NPA \ -
Others -Liabillities -
Total - - - - - - - - - - - - - -
Cover on Book Value - -
Cover on Market Valueix
Exclusive Pari-Passu
Security Security Cover
Cover Ratio Ratio

t~~
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,..:.0 ~..L. Fo,Q ,~ ~
o CHENNAI .-
1-
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No~·4,
CP1l~~ I I ~ 600006
1 i
Place: Bengaluru * Prof. Sir Ralf Dieter Speth
Date: 06-08-2024 \
HENNAJ'
0018. 'l (fl...,
~ * ~.::;
0
Chairman
~ ._ A ~
 TVS MOTOR COMPANY TVS ~
TVSMotor Company Limited, Registered Office: "Chailanya· No.12, KhaderNawaz Khan Road,
Chennai -600006, Ta milnadu, India. Telephone: +91-44-2&3321 15 Fax : +91-44-28332113

A. Statement of utilization of issue proceeds:

Name of the ISIN Mode of Type of Date of Amount Funds Any If 8 is Rema
Issuer Fund instrument raising Raised utilized deviation Yes, rks, if
Raising funds (Rs in (Rs in (Yes/ No) then any
(Public Cr) Cr) specify
issues/ the
Private purpose
placement of for
) which
the
funds
were
utilized
1 2 3 4 5 6 7 8 9 10
TVS Motor Not Applicable
Company Limited
B. Statement of deviation/ variation in use of Issue proceeds:
Particulars Remarks

Name of listed entity TVS Motor Company Limited

Mode of fund raising
Type of instrument
Date of raising funds
Amount raised
Report filed for quarter ended 30th June 2024
Is there a deviation/ variation in use of funds raised?
Whether any approval is required to vary the objects of the issue
stated in the prospectus/ offer document?
If yes, details of the approval so required? Not Applicable
Date of approval
Explanation for the deviation/ variation
Comments of the audit committee after review
Comments of the auditors, if any
Objects for which funds have been raised and where there has been a deviation/ variation, in the
following table:
Original object Modified Original Modified Funds Amount of deviation/ Remarks,
object, if allocation allocation, if utilised variation for the quarter if any
any any according to applicable
object (in Rs. crore and
in %)

Not Applicable

Deviation could mean:

a. Deviation in the objects or purposes for which the funds have been raised.
b. Deviation in the amount of funds actually utilized as against what was originally disclosed.

KELLIYA Digitally signed by

KELLIYA SUBRAMANIAN
SUBRAMANIA SRINIVASAN
Date: 2024.08.06
N SRINIVASAN 13:38:36 +05'30'

Name of the signatory: K S Srinivasan

Designation: Company Secretary
Date: 6th August 2024

Website : www.tvsmotor.com Email : contactus@tvsmotor.com CIN : L35921TN1992PLC022845

PRESS TVS ~
RELEASE
TVS Motor continues strong growth momentum;
Records Highest Revenue, EBITDA and PBT in Q1

EBITDA margin for Q1 2024-25 highest at 11.5%

Bengaluru, August 06, 2024: TVS Motor Company’s Revenue from Operations in the quarter
ended June 2024 is higher at Rs. 8,376 Crores, grew by 16% as against Rs. 7,218 Crores in the
quarter ended June 2023. The Company posted its highest ever Operating EBITDA of Rs. 960
Crores with a growth of 26% for the first quarter of 2024-25 as against EBITDA of Rs. 764 Crores
in first quarter of 2023-24. Company’s operating EBITDA margin significantly improved by
90bps at 11.5% as against 10.6% in the quarter ended June 2023.

The Company posted its highest ever Profit Before Tax (PBT) of Rs. 783 Crores recording a
growth of 28% for the first quarter of 2024-25 as against Rs. 610 Crores in the first quarter of
2023-24. PBT for the quarter includes notional gain of Rs. 28 Crores towards fair valuation of
investments held by the Company. During the current quarter, the Company’s Profit After Tax
(PAT) grew by 23% at Rs. 577 Crores as against Rs. 468 Crores during first quarter of 2023-24.

Sales:

The overall two-wheeler and three-wheeler sales including exports grew by 14% registering
sales of 10.87 Lakh units in the quarter ended June 2024 as against 9.53 Lakh units registered
in the quarter ended June 2023. Motorcycle sales grew by 11% registering 5.14 Lakh units in
the quarter ended June 2024 as against 4.63 Lakh units in quarter ended June 2023. Scooter
sales for the quarter ended June 2024 grew by 19% at 4.18 Lakh units as against 3.50 Lakh
units in the first quarter of 2023-24. Three-wheeler sales for the quarter under review is at 0.31
Lakh units as against 0.35 Lakh units during first quarter of 2023-24.

Electric Scooter sales for the quarter ended June 2024 is at 0.52 lakh units as against 0.39 lakh
units in the quarter ended June 2023.

New Product Launches:

During the quarter, Company introduced new variants to TVS iQube portfolio for making electric
mobility accessible to everyone. TVS iQube, is now available in three battery options to choose
from 2.2 kWh, 3.4kWh and 5.1kWh. TVS iQube series now offers an array of five variants
available in vibrant 11 colours, making this one of the largest and most attractive EV portfolios
in the market. TVS iQube portfolio is receiving very good response from the customers.
PRESS TVS ~
RELEASE
About TVS Motor Company

TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler
manufacturer globally, championing progress through sustainable mobility with four state-of-the-
art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust,
value, and passion for customers, it takes pride in making internationally accepted products of
the highest quality through innovative and sustainable processes. TVS Motor is the only two-
wheeler company to have won the prestigious Deming Prize. Our products lead in their
respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1
Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years.
Our group company Norton Motorcycles, based in the United Kingdom, is one of the most
emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss
E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in
Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience
across 80 countries in which we operate. For more information, please visit www.tvsmotor.com

For more information, please contact:

KS Harini: ks.harini@tvsmotor.com
Prasant Ramakrishnan: prasant.ramakrishnan@tvsmotor.com
 Be.st
Workpllaces"'
in Manufac:t1.u:i™3

Greo~
Piece
To
Work . IHDIA
2024

TVS
TVSM RESULTS Q/E
30th JUNE 2024

TVSM Results – Q/E 30th June 2024 / Presentation dated 6th August 2024
 TVS ~
Highlights Q/E June 2024

► Company’s revenue grew by 16% at Rs. 8,376 crores compared to Rs. 7,218 crores
during Q1 of last year.

► Company’s Operating EBITDA grew by 26% at Rs. 960 crores compared to Rs. 764
crores during Q1 of last year.

Operating EBITDA margin improved by 90 bps at 11.5% as against 10.6% during Q1 of

last year.

PBT for the quarter grew by 28% at Rs. 783 crores as against Rs. 610 crores during Q1
of last year. PBT for the quarter includes Rs. 28 crores of fair valuation gain on the
investments held by the Company.

.TVSM Results – Q/E 30 June 2024 / Presentation dated 6 August 2024 2

th th
 TVS ~

Sales
Q/E June 2024
(Nos. in ‘000)

Q1 Q1
Particulars
(2023 - 2024) (2024 - 2025)
463 Motorcycles 514
350 Scooters 418
106 Mopeds 123
35 Three-wheelers 31
953 Total 1,087
Scooter includes 51,936 units of EV during Q1 2024-25 and 38,642 units during Q1 2023-24

.TVSM Results – Q/E 30 June 2024 / Presentation dated 6 August 2024 3

th th
 TVS ~
Financial Performance
Q/E June 2024 (Rs. in Crores)

Revenue from Operations Operating EBITDA PBT# 783

8376 960 28%
16% 26%
764 610
7218

Q/E June' 2023 Q/E June' 2024 Q/E June' 2023 Q/E June' 2024 Q/E June' 2023 Q/E June' 2024

# PBT for the Q/E June 2024, includes fair valuation gain of Rs. 28 crores on the investments held by the Company.

.TVSM Results – Q/E 30 June 2024 / Presentation dated 6 August 2024 4

th th
 TVS ~

CIAO ITALIA
TVSM Launches
Operations in Italy
Black Edition of TVS First Automobile Company to
Apache Launched Become TNFD Adopters
► TVS Motor Company launched ‘A Blaze of ► As a TNFD Adopter, TVS Motor commits to
Black’ Dark Edition variant of the TVS transparent reporting of our impact on nature. By
Apache 160 series motorcycles, namely adopting the TNFD framework, TVS Motor reaffirms
the TVS Apache RTR 160 and RTR 160 4V. its commitment to environmental responsibility

TVS iQube – First EV to TVS HLX 125 with 5 Gears

Complete a Journey Around Launched for the Global
Sri Lanka Markets.
► The TVS iQube traversed a staggering 1,463 ► TVS HLX has been a strong performer,
kms in just 7 days, encompassing the rich consistently catering to evolving mobility
cultural tapestry of Sri Lanka showcasing its needs making it the first preference of 3.5
impressive range and reliability. million customers in 50 countries.
TVSM
TVSM
. Results––Q/E
Results Q/E30
30ththJune
June2024
2024//Presentation
Presentationdated
dated66ththAugust
August2024
2024 5
 THANK YOU!
Disclaimer: No part of this presentation is to be circulated, quoted, or reproduced for any distribution without prior written approval from TVS Motor Company Limited, PB 4, Harita, Hosur-635109, Tamil Nadu, India.
Certain parts of this presentation may be “forward looking statements” within the meaning of applicable laws and regulations and actuals may differ from those either expressed or implied.