TVS Supply Chain Solutions Ltd - Stock Valuation and Financial Performance

BSE: 543965 | NSE: TVSSCS | Logistics | Small Cap

TVS Supply Chain Sol Share Price

172.45 0.25 0.15%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on TVS Supply Chain Sol

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

TVS Supply Chain Solutions stock performance -

mw4me loader
P/E Ratio (CD):
193.19
Market Cap:
7,690.5 Cr.
52-wk low:
145.4
52-wk high:
258

Is TVS Supply Chain Solutions Ltd an attractive stock to invest in?

1. Is TVS Supply Chain Solutions Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that TVS Supply Chain Solutions Ltd is a average quality company.

2. Is TVS Supply Chain Solutions Ltd undervalued or overvalued?

The key valuation ratios of TVS Supply Chain Solutions Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is TVS Supply Chain Solutions Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of TVS Supply Chain Solutions Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of TVS Supply Chain Sol:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
TVS Supply Chain Solutions Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 4%6.1%8.6%6.5%4.4%4.6%-0.5%2.7%4.5%5.7%-
Value Creation
Index
-0.7-0.6-0.4-0.5-0.7-0.7-1.0-0.8-0.7-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,5153,1274,2935,0325,3426,7806,6056,9349,25010,23510,235
Sales YoY Gr.-24.4%37.3%17.2%6.2%26.9%-2.6%5%33.4%10.7%-
Adj EPS 0.51.22.51.41.1-0.3-5.6-2-0.30.30.9
YoY Gr.-149%105.7%-42.6%-20.8%-129.8%NANANANA-
BVPS (₹) 17.414.415.717.619.719.415.514.218.818.440.8
Adj Net
Profit
11.729.464.845.936.4-10.9-178-62.8-9.312.240
Cash Flow from Ops. -72.617717311069.7372190712621712-
Debt/CF from Ops. -9.53.95.88.715.84.111.52.22.82.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 16.9%13.9%15.7%10.7%
Adj EPS -4.3%-22%NANA
BVPS0.6%-1.4%5.8%-2%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
2.97.917.59.66.2-1.8-31.4-12.5-1.61.73
Op. Profit
Mgn %
5.364.94.43.784.76.376.87.5
Net Profit
Mgn %
0.71.21.70.90.7-0.2-3.5-0.9-0.10.10.4
Debt to
Equity
1.722.51.71.82.54.43.42.63-
Working Cap
Days
010093103116104110111898735
Cash Conv.
Cycle
022181820192115414

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 3.00%

Sales growth is growing at healthy rate in last 3 years 15.72%

Debt to equity has declined versus last 3 years average to 2.98

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at -8.61%

Latest Financials - TVS Supply Chain Solutions Ltd.

Standalone Consolidated
TTM EPS (₹) -0.7 0.9
TTM Sales (₹ Cr.) 1,819 10,235
BVPS (₹.) 57.3 40.8
Reserves (₹ Cr.) 2,480 1,754
P/BV 3.05 4.28
PE 0.00 193.19
From the Market
52 Week Low / High (₹) 145.40 / 257.95
All Time Low / High (₹) 145.40 / 257.95
Market Cap (₹ Cr.) 7,690
Equity (₹ Cr.) 44
Face Value (₹) 1
Industry PE 36.1

Management X-Ray of TVS Supply Chain Sol:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.007.777.77
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of TVS Supply Chain Sol

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,5153,1274,2935,0325,3426,7806,6056,9349,25010,235
Operating Expenses 2,3852,9434,0824,8195,1476,2546,3566,5408,6329,544
Manufacturing Costs5056246957439031,0771,1181,1561,5381,702
Material Costs8319521,0881,0478858949109331,1591,372
Employee Cost 4725978191,0251,2121,6101,8041,8051,8892,093
Other Costs 5787711,4812,0042,1472,6732,5232,6464,0464,377
Operating Profit 130184210213195526249394617691
Operating Profit Margin (%) 5.2%5.9%4.9%4.2%3.7%7.8%3.8%5.7%6.7%6.8%
Other Income 221332224854188665076
Interest 4854617555146237182160198
Depreciation 6074677388418445443461524
Exceptional Items -11017007050-35-10
Profit Before Tax 32691328810325-242-1161440
Tax 2032444253416-4358-2
Profit After Tax 1337884750-15-248-74-4542
PAT Margin (%) 0.5%1.2%2.1%0.9%0.9%-0.2%-3.8%-1.1%-0.5%0.4%
Adjusted EPS (₹)0.31.33.21.51.7-1.0-6.1-2.4-1.31.1
Dividend Payout Ratio (%)43%17%2%3%7%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 409339402558624615499460680669
Share Capital 24242632323239423636
Reserves 385316376526592583461418644632
Minority Interest35393574614080404036
Debt5925918938231,0881,4322,1221,4961,5241,671
Long Term Debt333387355221710904959941735499
Short Term Debt2592045386033795281,1635557891,172
Trade Payables4164086767151,0339681,0131,1541,4531,427
Others Liabilities 2582563184374661,5391,6631,7151,9572,283
Total Liabilities 1,7101,6342,3232,6073,2734,5945,3774,8665,6546,087

Fixed Assets

Gross Block9678991,1746941,0612,5853,0993,2023,1293,450
Accumulated Depreciation317343426691595601,0651,2149871,154
Net Fixed Assets6505567486259022,0252,0341,9872,1412,296
CWIP 101123138161235
Investments 002755536050112100105
Inventories186125129107134166170228292345
Trade Receivables5165159059791,3731,2091,3071,1601,3071,228
Cash Equivalents 1632561804443834991,1475661,0051,172
Others Assets194182333385426623661797797905
Total Assets 1,7101,6342,3232,6073,2734,5945,3774,8665,6546,087

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -7317717311070372190712621712
PBT 3269132881078-242-1191340
Adjustment 122132125166144561629612695717
Changes in Working Capital -199-108-103-151-141-141222-7128
Tax Paid -28-15-92-41-31-56-56-3-16-73
Cash Flow From Investing Activity -124-7-389-166-78-235-36363-381-255
Capex -16015-166-95-69-138-120-111-101-161
Net Investments 33-23-162-7-23021728-83
Others 3-20-227-55-11-90-14-42-308-10
Cash Flow From Financing Activity 102-77140331-77-17557-1,167217-377
Net Proceeds from Shares 0012635804004571
Net Proceeds from Borrowing 5055190000-61-25-195
Interest Paid -46-52-57-70-60-77-126-90-61-101
Dividend Paid -6-3-7-3-4-50000
Others 104-775945-1361683-1,016-154-82
Net Cash Flow -9492-76275-86120384-39245881
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.0610.0223.769.698.39-2.49-44.82-15.69-7.956.19
ROCE (%)7.2711.6415.8911.219.758.89-0.212.797.679.17
Asset Turnover Ratio1.471.872.172.041.821.721.321.351.761.74
PAT to CFO Conversion(x)-5.624.781.972.341.4N/AN/AN/AN/A16.95
Working Capital Days
Receivable Days75606068806970654945
Inventory Days2718119889101011
Payable Days183158182242360409397424410383

TVS Supply Chain Solutions Ltd Stock News

TVS Supply Chain Solutions Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of TVS Supply Chain Sol on 12-Apr-2024 10:20 is ₹172.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:20 the market cap of TVS Supply Chain Sol stood at ₹7,690.5.
The latest P/E ratio of TVS Supply Chain Sol as of 12-Apr-2024 10:20 is 0.00.
The latest P/B ratio of TVS Supply Chain Sol as of 12-Apr-2024 10:20 is 3.05.
The 52-week high of TVS Supply Chain Sol is ₹257.9 and the 52-week low is ₹145.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TVS Supply Chain Sol is ₹1,819 ( Cr.) .

About TVS Supply Chain Solutions Ltd

The Company was originally incorporated as ‘TVS Logistics Services Limited’ in Madurai, a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 16, 2004 and certificate of commencement of business dated November 29, 2004 issued by the Registrar of Companies, Tamil Nadu. Thereafter, the name of the company was changed to its present name, ‘TVS Supply Chain Solutions Limited’, pursuant to a special resolution passed in the extra-ordinary general meeting of the Shareholders held on November 19, 2018, as part of corporate rebranding and to reflect its core activities. Consequently, a certificate of incorporation pursuant to change of name dated February 27, 2019 was issued by the RoC to reflect the change in name.

The company is India’s largest and among the fastest growing integrated supply chain solutions provider among Indian listed supply chain solutions companies in terms of revenues and revenue growth, respectively, in Fiscal 2023, according to the Redseer Report. The company is an India based multinational company, who pioneered the development of the supply chain solutions market in India according to Redseer Report. It is promoted by the erstwhile TVS Group, one of the reputed business groups in India (Source: Redseer Report), and are now part of the TVS Mobility Group. It has managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions.

It is an Indian supply chain logistics solution provider that has global capabilities and network across the value chain with cross deployment abilities. Its technology coupled with it deep domain expertise and global expertise enables it to develop and offer customized solutions to customers’ thereby empowering agile and efficient supply chains at large scale. It provides solutions and services to meet its customers’ supply chain management and logistics requirements. As part of its engagement with customers, customers outsource portions of their supply chain to it in order to improve their efficiency and to better manage their resources. For instance, it provided purchase services, assembling of component and parts, kitting, and using of packing materials for a global wind turbine company.

Business area of the company

The company is an Indian supply chain logistics solution provider that has global capabilities and network across the value chain with cross deployment abilities. 

Services of the company

Integrated Supply Chain Solutions

  • Consultancy & professional services
  • Product management solutions
  • Manufacturing support
  • Warehousing, storage & distribution
  • Transportation & integrated logistics
  • Integrated packaging solutions
  • Information systems
  • Sourcing and procurement

Network solutions

  • Global forwarding solutions
  • Time critical final mile solutions

Awards, accreditations or recognitions

  • 2017: The Company was awarded ‘IMC Ramkrishna Bajaj National Quality Award for Performance Excellence’ in the service category by the IMC Chamber of Commerce and Industry.
  • 2017: The Company was awarded ‘Performance Excellence’ by the IMC Chamber of Commerce and Industry.
  • 2017: TVS SCS Global Freight Solutions Limited was awarded ‘CII SCALE Awards - Excellent Position under Freight Forwarding category’ at the CII SCALE Awards 2017.
  • 2017: TVS SCS Global Freight Solutions Limited was recognised for its contribution by Rising Star Mobile India Private Limited.
  • 2018: The Company was awarded ‘Best Technology Adopter of the Year’ by Indian Oil Corporation.
  • 2018: The Company was awarded ‘Overall Excellence in Logistics and Supply Chain’ at the CII SCALE Awards 2018.
  • 2018: TVS SCS Global Freight Solutions Limited was recognised for its contribution by Rising Star Mobile India Private Limited.
  • 2019: The Company was awarded ‘Top GST Player (Supply of Service Category)’ at the GST Day Recognition by the Office of the Commissioner of CGST and Central Excise.
  • 2019: The Company was awarded ‘Best Contractor- Safety’ by Hyundai Motor India.
  • 2020: The Company was awarded ‘Logistics Excellence Leadership Category Service Sector’ by Frost & Sullivan at the Project Evaluation and Recognition Program.
  • 2021: The Company was awarded ‘Supply Chain Digital Transformation’ at the 10th edition of Manufacturing Supply Chain Awards curated by KamiKaze.
  • 2020: The Company was awarded ‘Best-in-Class Excellence in End-to-End Customer Solutions’ at the 10th edition of Manufacturing Supply Chain Awards curated by KamiKaze.
  • 2020: TVS Supply Chain Solutions UK & Europe was awarded ‘Gold Medal’ by Ecovadis as a recognition of its EcoVadis rating.
  • 2022: The Company was awarded ‘Overall Excellence in Logistics and Supply Chain’ at the CII SCALE Awards 2021.
  • 2022: The Company was awarded ‘Best Practice in Digital Transformation 2021’ in the ‘Innovative Category’ at the CII Digital Transformation Awards 2021.
  • 2022: The Company was awarded ‘DnA (Digital and Analytics) Excellence Award’ at the CII SCALE Awards 2021.
  • 2022: The Company was awarded ‘Overall Excellence in Logistics and Supply Chain’ at the CII SCALE Awards 2022.
  • 2022: The Company was awarded ‘Scale of Scale’ at the CII SCALE Awards 2022. 

History and milestone 

  • 2005: Invested in and subscribed to 55% of the paid-up equity share capital of TVS SCS (Siam) Limited (formerly known as TVS Logistics SIAM Limited, Thailand), as part of the group’s entry
  • strategy for south-east Asia.
  • 2007: Invested in and subscribed to 75% of the paid-up equity share capital of TVS SCS Global Freight Solutions Limited (formerly known as TVS Dynamic Global Freight Services Limited).
  • 2008: First investment by Goldman Sachs, through GS Logistics Holdings Limited, in the Company.
  • 2009: Acquisition of YeleStre Holdings Limited by TVS Logistics Investment UK Limited.
  • 2012: Private equity investment by Zumrut Investments Limited, Mauritius, in the company. 2012: Private equity investment by GS Logistics Holdings Limited, Mauritius, in the company.
  • 2012: Acquisition of FLEXOL Packaging (India) Limited, Rico Logistics Limited (UK) and TVS Supply Chain Solutions North America, Inc. (formerly known as Wainwright Industries Inc.)
  • 2015: Implementation of the BRR Scheme.
  • 2015: Acquisition of Drive India Enterprise Solutions Limited (DISEL), and acquisition of T.I.F. Holdings Pty Ltd. through TVS Supply Chain Solutions Australia Holdings Pty Ltd (formerly known as TVS Asianics Australia Holdings Pty Ltd).
  • 2015: Private equity investment by Omega TC Holdings Pte. Ltd. and Tata Capital Financial Services Limited.
  • 2016: CDPQ Private Equity Asia Pte. Ltd. (CDPQ) acquired 38.17% equity of the Company from GS Logistics Holdings Limited, Mauritius and Zumrut Investments Limited, Mauritius.
  • 2017: Acquisition of SPC International Limited, UK through Rico Logistics Limited (UK).
  • 2017: Acquired the telecom division from T. V. Sundram Iyenger & Sons Private Limited.
  • 2017: Acquisition of TVS SCS International Freight (Spain) S.L.U. (formerly known as Nadal Forwarding, S.L.) providing entry into Spanish market.
  • 2017: Acquisition of TVS SCS Singapore Pte. Ltd (formerly known as Pan Asia Logistics Singapore Pte.Ltd.) and TVS SCS International Pte. Ltd (formerly known as Pan Asia Logistics International Pte.Ltd.), allowing network expansion to Singapore and China.
  • 2018: Acquisition of TVS SCS Logistics Management Co., Ltd. (formerly known as TLM Logistics Management Co. Ltd, Thailand) through TVS Supply Chain Solutions (Thailand) Limited.
  • 2018: Acquisition of Triage Holdings Limited through Rico Logistics Limited (UK).
  • 2018: Acquisition of White Data Systems India Private Limited.
  • 2020: Private equity investment by Mahogany Singapore Company Pte. Ltd. (“Gateway”).
  • 2020:  Strategic investment by Mitsubishi Corporation (Japan) for a minor stake.
  • 2021: Acquisition of FIT 3PL Warehousing Private Limited.
  • 2021: Private equity investment by Exor Special Opportunities Master Fund.

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