NSE: TVSELECT · BSE: 532513
TVS ELECTRONICS LTD
Operates in two business segments from a Chennai headquarters, with manufacturing based in Tumakuru, Karnataka. The Products and Solutions Group (PSG) makes point-of-sale (POS) terminals, handheld devices, 2D scanners, and integrated automatic identification and data capture (AIDC) solutions, serving BFSI and warehouse/logistics customers; it generated Rs 316.41 crore in FY26, or 69.5% of total revenue, with a 4.7% segment EBIT margin. The Customer Support Services (CSS) segment handles infrastructure managed services (IMS), solar operations and maintenance (O&M), and electronics manufacturing services (EMS) for external customers; it generated Rs 138.79 crore (30.5% of revenue) but ran at an 8.5% segment EBIT loss in FY26. Operating scale includes solar site capacity scaled from 1 GW to 3 GW in FY26, an SMT line running at 30–40% utilisation with EMS revenue already starting to flow, and an authorised service partner network consolidated from over 700 to 500 partners. Materials accounted for 32.3% of revenue (Rs 147.1 crore) and employee costs 17.1% (Rs 77.98 crore), making inputs the largest cost line. Capex was Rs 4.54 crore in FY26, with Rs 40 crore already invested cumulatively in factory expansion and EMS, and the company reported a small net profit of Rs 1.26 crore versus a loss the prior year on revenue of Rs 455.2 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Products and Solutions (70%), Customer Support Services (31%). IT hardware products plus services; loss-making services segment offsetting product margins
Exhibit 1: Financial summary, FY19–FY19 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 |
|---|---|
| Revenue | 2,761 |
| EBITDA (ex other income) | 16 |
| margin % | 0.6 |
| Owners' profit | 10 |
| EPS, as reported (₹) | 4.00 |
| ROE % · ROCE % | 49.2 · 55.0 |
| Debt / equity (x) | 0.00 |
| Cash from operations | — |
| Capex | — |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY19 |
|---|---|
| Revenue | 57 |
| Profit before tax | 4 |
| Net profit | 2 |
| EPS (₹) | 1.05 |
Exhibit 3: Segment revenue, FY19
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| IT Products and Technical Services | 56 | 99.4 |
| Distribution services | 0 | 0.6 |
| Total, before eliminations | 57 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| GNG ELECTRONICS LIMITED | 7,867 | 55.8 | 10.36 | 40.9 | 17.4 | 18.7 | — | 12.8 |
| RASHI PERIPHERALS LIMITED | 5,944 | 18.6 | 2.92 | 13.7 | 13.9 | 18.0 | — | 3.4 |
| MOSCHIP TECHNOLOGIES LTD | 3,638 | 133.8 | 8.90 | 61.4 | 8.6 | 7.4 | 40.9 | 10.1 |
| NELCO LTD | 1,979 | 513.2 | 15.36 | 69.3 | 2.6 | 3.1 | 6.3 | 11.9 |
| D-LINK INDIA LTD | 1,456 | 13.6 | 2.88 | 9.6 | 20.6 | 27.2 | 16.6 | 8.6 |
| IVALUE INFOSOLUTIONS LTD | 1,236 | 11.9 | 2.18 | 7.8 | 17.3 | 21.9 | — | 13.4 |
| BHARAT GLOBAL DEVELOPERS LIMIT | 991 | 362.4 | 5.21 | — | (0.1) | (0.1) | — | — |
| CONTROL PRINT LIMITED | 983 | 25.2 | 2.18 | 10.2 | 9.7 | 15.5 | 18.8 | 13.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 366.7 | 27.0 | 15 of 16 | 7% |
| P/B | 8.3 | 2.9 | 12 of 16 | 27% |
| ROCE | 54.6 | 14.9 | 1 of 19 | 100% |
| ROE | 49.2 | 9.1 | 1 of 16 | 100% |
| Debt / Equity | 0.0 | 0.1 | 1 of 16 | 73% |
| EBITDA margin | 8.8 | 8.8 | 7 of 13 | 50% |
| Market cap | 718 | 579 | 9 of 19 | 56% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · RTA submits SEBI Reg 74(5) certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · TVS Electronics discloses Rs 7.82 cr GST show cause notice from Karnataka | regulatory legal | high | — | — |
| 28 Sept 2026 · Trading Window Closure from 1 October 2026 | compliance | minimal | — | — |
| 23 Sept 2026 · Newspaper notice on special window for re-lodgement of physical share transfers | compliance | minimal | — | — |
| 2 Sept 2026 · TVS Electronics faces GST show cause notice of about 1.75 crore | regulatory legal | high | — | — |
| 1 Sept 2026 · TVS Electronics Q1 FY27 swings to loss; revenue up 9.6% YoY but margins turn negative | investor communications | medium | — | — |
| 9 Aug 2026 · Newspaper copies of Q1 FY27 unaudited results filed | compliance | minimal | — | — |
| 8 Aug 2026 · TVS Electronics 31st AGM: All four resolutions passed with near-unanimous support | board shareholder meetings | medium | — | — |
| 8 Aug 2026 · Q1 FY27 results: net loss widens to Rs 662 lakh as both segments slip into red | results | high | — | — |
| 8 Aug 2026 · Board approves Q1 FY27 results; net loss widens to Rs 6.62 crore | results | high | — | — |
How to read this document
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|---|---|---|
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.