New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 39% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₹9.12b market cap, or US$95.5m). Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹0.22 (vs ₹0.35 loss in 3Q 2025) Third quarter 2026 results: EPS: ₹0.22 (up from ₹0.35 loss in 3Q 2025). Revenue: ₹1.14b (up 14% from 3Q 2025). Net income: ₹4.10m (up ₹10.6m from 3Q 2025). Profit margin: 0.4% (up from net loss in 3Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. New Risk • Dec 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.86b (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 20% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹8.86b market cap, or US$98.5m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.83 (vs ₹0.71 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.83 (up from ₹0.71 loss in 2Q 2025). Revenue: ₹1.28b (up 22% from 2Q 2025). Net income: ₹15.5m (up ₹28.7m from 2Q 2025). Profit margin: 1.2% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 158 percentage points per year, which is a significant difference in performance. New Risk • Aug 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.9% average weekly change). Earnings have declined by 5.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹7.51b market cap, or US$85.7m). New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 5.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (₹7.71b market cap, or US$88.2m). Reported Earnings • Jul 24
Full year 2025 earnings released: ₹2.03 loss per share (vs ₹0.14 profit in FY 2024) Full year 2025 results: ₹2.03 loss per share (down from ₹0.14 profit in FY 2024). Revenue: ₹4.30b (up 18% from FY 2024). Net loss: ₹37.9m (down ₹40.6m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. New Risk • Jun 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Announcement • May 19
TVS Electronics Limited, Annual General Meeting, Aug 13, 2025 TVS Electronics Limited, Annual General Meeting, Aug 13, 2025, at 10:00 Indian Standard Time. Reported Earnings • May 18
Full year 2025 earnings released: ₹2.03 loss per share (vs ₹0.14 profit in FY 2024) Full year 2025 results: ₹2.03 loss per share (down from ₹0.14 profit in FY 2024). Revenue: ₹4.33b (up 18% from FY 2024). Net loss: ₹37.9m (down ₹40.6m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 134 percentage points per year, which is a significant difference in performance. New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₹5.93b market cap, or US$68.5m). Reported Earnings • Feb 15
Third quarter 2025 earnings released: ₹0.35 loss per share (vs ₹0.93 loss in 3Q 2024) Third quarter 2025 results: ₹0.35 loss per share (improved from ₹0.93 loss in 3Q 2024). Revenue: ₹1.00b (up 15% from 3Q 2024). Net loss: ₹6.50m (loss narrowed 63% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • Jan 24
TVS Electronics Limited to Report Q3, 2025 Results on Feb 13, 2025 TVS Electronics Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Announcement • Nov 22
TVS Electronics Limited Announces Resignation of Srikaanth Viswanathan as Vice President & CTO - R&D TVS Electronics Limited announced that Mr. Srikaanth Viswanathan, Vice President & CTO - R&D, Senior Management Personnel vide letter dated 22nd November, 2024 has tendered his resignation to pursue career opportunities outside the organization. Date of Cessation 30 November, 2024. Reported Earnings • Nov 10
Second quarter 2025 earnings released: ₹0.71 loss per share (vs ₹0.60 profit in 2Q 2024) Second quarter 2025 results: ₹0.71 loss per share (down from ₹0.60 profit in 2Q 2024). Revenue: ₹1.05b (up 14% from 2Q 2024). Net loss: ₹13.2m (down 218% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • Oct 23
TVS Electronics Limited to Report Q2, 2025 Results on Nov 09, 2024 TVS Electronics Limited announced that they will report Q2, 2025 results at 4:00 PM, Indian Standard Time on Nov 09, 2024 Upcoming Dividend • Jul 26
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 02 August 2024. Payment date: 09 September 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (2.3%). Announcement • Jul 25
TVS Electronics Limited to Report Q1, 2025 Results on Aug 10, 2024 TVS Electronics Limited announced that they will report Q1, 2025 results at 4:00 PM, Indian Standard Time on Aug 10, 2024 Reported Earnings • Jul 25
Full year 2024 earnings released: EPS: ₹0.14 (vs ₹5.10 in FY 2023) Full year 2024 results: EPS: ₹0.14 (down from ₹5.10 in FY 2023). Revenue: ₹3.66b (up 3.6% from FY 2023). Net income: ₹2.70m (down 97% from FY 2023). Profit margin: 0.1% (down from 2.7% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Reported Earnings • May 11
Full year 2024 earnings released: EPS: ₹0.15 (vs ₹5.10 in FY 2023) Full year 2024 results: EPS: ₹0.15 (down from ₹5.10 in FY 2023). Revenue: ₹3.69b (up 4.3% from FY 2023). Net income: ₹2.70m (down 97% from FY 2023). Profit margin: 0.1% (down from 2.7% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • May 11
TVS Electronics Limited, Annual General Meeting, Aug 10, 2024 TVS Electronics Limited, Annual General Meeting, Aug 10, 2024. Announcement • May 10
TVS Electronics Limited Recommends Final Dividend for the Financial Year Ended March 31, 2024 TVS Electronics Limited rerecommended final dividend of INR 1 per Equity Share of face value of INR 10 each for the financial year ended 31st March, 2024. The dividend will be paid to the shareholders within 30 days from the date of approval by the shareholders at the upcoming Annual General Meeting scheduled to be held on 10th August, 2024. Fixed 3rd August, 2024 as the Record Date for Dividend. Reported Earnings • Feb 11
Third quarter 2024 earnings released: ₹0.93 loss per share (vs ₹0.74 profit in 3Q 2023) Third quarter 2024 results: ₹0.93 loss per share (down from ₹0.74 profit in 3Q 2023). Revenue: ₹884.5m (flat on 3Q 2023). Net loss: ₹17.3m (down 225% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹0.60 (vs ₹1.50 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.60 (down from ₹1.50 in 2Q 2023). Revenue: ₹927.1m (flat on 2Q 2023). Net income: ₹11.2m (down 60% from 2Q 2023). Profit margin: 1.2% (down from 3.0% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 06
First quarter 2024 earnings released: EPS: ₹0.17 (vs ₹2.04 in 1Q 2023) First quarter 2024 results: EPS: ₹0.17 (down from ₹2.04 in 1Q 2023). Revenue: ₹903.1m (up 4.6% from 1Q 2023). Net income: ₹3.20m (down 92% from 1Q 2023). Profit margin: 0.4% (down from 4.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
TVS Electronics Limited to Report Q1, 2024 Results on Aug 05, 2023 TVS Electronics Limited announced that they will report Q1, 2024 results on Aug 05, 2023 Upcoming Dividend • Jul 21
Upcoming dividend of ₹2.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 04 September 2023. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.3%). Reported Earnings • May 08
Full year 2023 earnings released: EPS: ₹5.11 (vs ₹8.10 in FY 2022) Full year 2023 results: EPS: ₹5.11 (down from ₹8.10 in FY 2022). Revenue: ₹3.55b (up 15% from FY 2022). Net income: ₹95.2m (down 37% from FY 2022). Profit margin: 2.7% (down from 4.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 79% per year whereas the company’s share price has increased by 75% per year. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹357, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 15x in the Tech industry in Asia. Total returns to shareholders of 616% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.74 (vs ₹2.73 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.74 (down from ₹2.73 in 3Q 2022). Revenue: ₹883.2m (up 1.1% from 3Q 2022). Net income: ₹13.9m (down 73% from 3Q 2022). Profit margin: 1.6% (down from 5.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 20% share price gain to ₹352, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 12x in the Tech industry in Asia. Total returns to shareholders of 254% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 2 highly experienced directors. Non Executive Independent Director Subhasri Sriram was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 20% share price gain to ₹293, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 13x in the Tech industry in Asia. Total returns to shareholders of 150% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 16% share price gain to ₹253, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 15x in the Tech industry in Asia. Total returns to shareholders of 124% over the past three years. Reported Earnings • Aug 19
First quarter 2023 earnings released: EPS: ₹2.04 (vs ₹0.26 loss in 1Q 2022) First quarter 2023 results: EPS: ₹2.04 (up from ₹0.26 loss in 1Q 2022). Revenue: ₹863.0m (up 59% from 1Q 2022). Net income: ₹38.0m (up ₹42.9m from 1Q 2022). Profit margin: 4.4% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹174, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 15x in the Tech industry in Asia. Total returns to shareholders of 10% over the past three years. Announcement • Jun 08
TVS Electronics Limited to Report Q3, 2023 Results on Feb 14, 2023 TVS Electronics Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • May 19
Full year 2022 earnings released: EPS: ₹8.10 (vs ₹0.41 in FY 2021) Full year 2022 results: EPS: ₹8.10 (up from ₹0.41 in FY 2021). Revenue: ₹3.09b (up 38% from FY 2021). Net income: ₹151.0m (up ₹143.3m from FY 2021). Profit margin: 4.9% (up from 0.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 2 highly experienced directors. Non Executive Independent Director Subhasri Sriram was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 17% share price gain to ₹261, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 17x in the Tech industry in Asia. Total returns to shareholders of 45% over the past three years. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹2.73 (up from ₹2.21 in 3Q 2021). Revenue: ₹873.5m (up 40% from 3Q 2021). Net income: ₹51.0m (up 24% from 3Q 2021). Profit margin: 5.8% (down from 6.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹3.21 (vs ₹0.30 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹782.0m (up 29% from 2Q 2021). Net income: ₹59.9m (up ₹54.3m from 2Q 2021). Profit margin: 7.7% (up from 0.9% in 2Q 2021). The increase in margin was driven by higher revenue. Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Non Executive Independent Director Subhasri Sriram was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 23
Full year 2021 earnings released: EPS ₹0.41 (vs ₹0.21 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹2.25b (down 13% from FY 2020). Net income: ₹7.70m (up 97% from FY 2020). Profit margin: 0.3% (up from 0.2% in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • May 24
Full year 2021 earnings released: EPS ₹0.41 (vs ₹0.21 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹2.27b (down 12% from FY 2020). Net income: ₹7.70m (up 97% from FY 2020). Profit margin: 0.3% (up from 0.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 25
New 90-day high: ₹159 The company is up 56% from its price of ₹102 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 2.0% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS ₹2.21 (vs ₹3.05 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹625.4m (up 17% from 3Q 2020). Net income: ₹41.2m (up ₹98.1m from 3Q 2020). Profit margin: 6.6% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 07
New 90-day high: ₹125 The company is up 29% from its price of ₹96.65 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 7.0% over the same period. Reported Earnings • Nov 09
Second quarter 2021 earnings released: EPS ₹0.30 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹619.5m (up 16% from 2Q 2020). Net income: ₹5.60m (up ₹62.5m from 2Q 2020). Profit margin: 0.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue.