TVS Motor Company Ltd - Mulitbagger Buy

TVS Motor company Ltd we all well know about this company. This company faced huge challange for the past 4 Years, For the last 1 year company vehicle sales started improving mainly in its scotter segment and its Share increased from 12.7 to 16.9 % as on lastest till Mar 2014 sales.  We believe comparing with its peer company, it can do well in the next few years.  TVS Motor Company Ltd. - Profit & Loss

Mar14 Mar13 Mar12 Mar11 Mar10 Income :  Operating Income  7961.85 7065.00 7126.20 6179.48 4363.11 Expenses  Material Consumed  5719.07 5145.98 5315.29 4662.62 3171.71 Manufacturing Expenses  79.81 90.45 89.77 116.22 90.99 Personnel Expenses  476.11 407.13 370.11 328.69 251.39 Selling Expenses  0.00 0.00 0.00 595.37 501.51 Adminstrative Expenses  1208.76 1012.41 881.66 172.22 138.15 Expenses Capitalised  0.00 0.00 0.00 0.00 0.00 Cost Of Sales  7483.75 6655.97 6656.83 5875.12 4153.75 Operating Profit  478.10 409.03 469.37 304.36 209.36 Other Recurring Income  30.21 23.84 21.71 131.48 79.36 Adjusted PBDIT  508.31 432.87 491.08 435.84 288.72 Financial Expenses  25.40 48.04 57.09 70.30 75.36 Depreciation  131.65 130.41 117.53 107.25 102.53 Other Write offs  0.00 0.00 0.00 0.36 1.95 Adjusted PBT  351.26 254.42 316.46 257.93 108.88 Tax Charges  90.91 47.56 67.39 53.51 -11.84 Adjusted PAT  260.35 206.86 249.07 204.42 120.72 Non Recurring Items  1.28 -90.84 0.00 -9.84 -32.71 Other Non Cash adjustments  0.00 0.00 0.00 0.00 0.00 Reported Net Profit  261.63 116.02 249.07 194.58 88.01 Earnigs Before Appropriation  585.44 400.92 384.54 228.70 121.03 Equity Dividend  55.50 48.53 51.76 44.06 28.51 Preference Dividend  0.00 0.00 0.00 0.00 0.00 Dividend Tax  11.01 8.49 10.01 8.21 4.36 Retained Earnings  518.93 343.90 322.77 176.43 88.16

  Source: Dion Global Solution Ltd.

The company trading in both the exchanges CMP 151 Tgt 300 for short term view Rs.1000 for the longer term view.