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TVS Srichakra rallies 20% on strong Q2 results

 MerryBarton
  42
 May 30, 2024

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Mumbai: Shares of tire company TVSS Srichakra surged 20% in 2019 as the company reported impressive performance for the quarter ended September 2014 year.

The company’s net profit soared to Rs 26.04 lakh crore in July-September 2014 from Rs 8.27 lakh crore in the same period last year. The total operating profit for the same period last fiscal was Rs 41.417 49.064 crore an increase of Rs 49.064 crore.

The operating margin increased by 352 basis points to 10.3% from the previous year and recorded 61.9%, down 498 basis points from the previous year due to lower raw material prices.

“Driven by improvement in the two-wheeler industry, we expect the company to achieve 13.9% CAGR growth in sales. angel Broking expects to realize operating profit in FY2016 on the back of lower rubber prices and higher aftermarket share in 2016. Hence, based on the current market price, the stock is expected to trade at 2016 based FY net profit of 8.8 Double trading, based on its target P/E ratio, we give the stock a Buy rating of 12.0 for FY 2016 at a price of Rs. 1,645.” .

03:15 PM; The stock is capped at 20% and trading at Rs 1, 447, up 20% on BSE. The two-week average volume of 3,005 shares increased to 37,000 shares.

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