TVS Motor Company reported a total revenue of Rs. 16,455.4 Crores for the year ended March 2020 as against Rs. 18,217.5 Crores reported in the year ended March 2019. Along with this, the company successfully transitioned to BS-VI and through sustainable cost reduction improved operating EBITDA margins from 7.9% to 8.3% before accounting for one-time costs. These one-time costs are Rs. 22 Crores for dealer discounts to transition to BS-VI and Rs. 32 Crores for COVID-19 relief works.
TVS Motor Company started the transition from BS-IV to BS-VI in Q3 of financial year 2019-20. This effective planning helped the Company to ensure complete readiness of BS-VI vehicle supply in Q4. The Company, including its dealers almost entirely retailed all BS-IV vehicles before March 31, 2020. The related discounts of Rs. 22 Crores have been reduced from operating revenue.
The BS-VI vehicles launched by the Company are attractive and feature-rich across its wide portfolio comprising scooters, motorcycles and mopeds. The products have been well received and the customer retails of these vehicles have already started.
Profit Before Tax (PBT) after the one-time discount and exceptional item is Rs. 754.4 Crores for the year under review. The operating Profit Before Tax prior to one-time additional discount and exceptional item for year ended March 2020 is Rs. 808.7 Crores as compared to Rs. 961.0 Crores reported during previous year.
Profit After Tax post one-time discount and exceptional item is Rs. 592.3 Crores for the year under review. Operating PAT for the year ended March 31, 2020 prior to one-time additional discount and exceptional item is Rs. 634.9 Crores as compared to Rs. 670.1 Crores reported during the year ended March 2019.
