TVS Motor: TVS Motor’s product mix, caution on EV discounts help retain edge
Synopsis
A better product mix and a judicious call on staying away from EV scooter discounting should fatten margins. The maker of Apache expanded its margins by 114 basis points on a year-on-year basis to 11.2% in the December quarter and its operating profit (Ebitda) per vehicle rose to a record high of ₹8,397. One basis point is 0.01 percentage point.
ET Intelligence Group: If you had bought TVS Motor a decade ago, you would have made an incredible amount of money as the bike maker raced ahead of most automakers. That run of outperformance has not ended yet, most analysts believe.A better product mix and a judicious call on staying away from EV scooter discounting should fatten margins. The maker of Apache expanded its margins by 114 basis points on a year-on-year basis to 11.2% in the
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