Makes automotive tyres, tubes and flaps for two-wheelers and off-highway vehicles under the Eurogrip brand, manufacturing from its Vellaripatti, Madurai plants. For FY26, consolidated revenue was Rs 3,643.35 crore with net profit of Rs 71.06 crore, while standalone revenue reached Rs 3,389.66 crore. The cost base is dominated by raw materials at 54.3% of revenue, followed by other operating expenses at 22.6% and employee costs at 11.8%, with depreciation at 3.9% of revenue. Capital investment of up to Rs 220 crore has been approved for capacity additions: a 5% expansion of the two-wheeler tyre plant (Rs 110 crore, target H1 FY2028-29) and a 25% expansion of the off-highway tyre plant (Rs 110 crore, target H1 FY2027-28), against current capacity utilisation of 80-85% and 75-80% respectively. Branded retail is being expanded through exclusive Eurogrip outlets, with 19 stores now open after recent additions in Mehsana, Noida, Bareilly, Panipat and Hyderabad, selling the full two-wheeler tyre range plus tubes and offering fitment, puncture repair, air pressure checks and warranty support. The step-down subsidiary TVS Sensing Solutions has signed an agreement to acquire a 51% stake in Pune-based Weber Drivetrain, an EV motor and controller maker with FY26 turnover of Rs 14.17 crore, for Rs 1.43 crore in cash. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Two-wheeler tyres, Off-highway tyres, Tubes and flaps. Asset-heavy tyre and rubber products manufacturer focused on two-wheeler and off-highway segments
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,528 | 2,985 | 2,926 | 3,254 | 3,643 |
| EBITDA (ex other income) | 164 | 223 | 288 | 213 | 281 |
| margin % | 6.5 | 7.5 | 9.8 | 6.6 | 7.7 |
| Owners' profit | 43 | 78 | 108 | 108 | 20 |
| EPS, as reported (₹) | 56.76 | 101.85 | 140.98 | 26.92 | 93.03 |
| ROE % · ROCE % | 4.5 · 6.0 | 7.5 · 9.7 | 9.7 · 11.5 | 1.7 · 5.4 | 6.0 · 9.4 |
| Debt / equity (x) | 0.63 | 0.64 | 0.75 | 0.74 | 0.64 |
| Cash from operations | (62) | 206 | 228 | 197 | 297 |
| Capex | (285) | (207) | (251) | (161) | (111) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 842 | 803 | 818 | 819 | 926 | 917 | 981 | 1,068 |
| Profit before tax | 18 | (6) | 12 | 20 | 18 | 17 | 48 | 45 |
| Net profit | 10 | (6) | 10 | 13 | 11 | 11 | 36 | 34 |
| EPS (₹) | 13.47 | (7.79) | 12.52 | 16.82 | 14.52 | 14.56 | 47.13 | 44.43 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MRF LTD | 54,594 | 22.6 | 2.60 | 10.6 | 11.6 | 14.0 | 14.0 | 14.1 |
| BALKRISHNA IND. LTD | 41,830 | 29.8 | 3.82 | 18.0 | 11.3 | 13.0 | 13.4 | 24.4 |
| APOLLO TYRES LTD | 26,554 | 15.5 | 1.59 | 8.7 | 8.2 | 6.2 | 10.4 | 12.8 |
| CEAT LIMITED | 13,140 | 22.5 | 2.60 | 8.0 | 13.8 | 12.8 | 15.6 | 8.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · TVS Srichakra unit completes 51% acquisition of Weber Drivetrain | strategic transactions | high | — | — |
| 2 Sept 2026 · TVS Srichakra 43rd AGM Notice Published in Newspapers with E-voting Details | compliance | minimal | — | — |
| 1 Sept 2026 · TVS Srichakra: AGM notice and Annual Report web links shared | compliance | minimal | — | — |
| 1 Sept 2026 · TVS Srichakra 43rd AGM on Sept 24, 2026; ₹37.80 per share dividend proposed | board shareholder meetings | low | — | — |
| 27 Aug 2026 · TVS Srichakra publishes 43rd AGM notice in newspapers | compliance | minimal | — | — |
| 27 Aug 2026 · TVS Srichakra says volume surge is market-driven, no specific reason | compliance | minimal | — | — |
| 26 Aug 2026 · NSE query on unusual volume in TVS Srichakra shares; company response awaited | regulatory legal | high | — | — |
| 26 Aug 2026 · Record date for final dividend set at 10-Sep-2026; AGM on 24-Sep-2026 | corporate actions | high | — | — |
| 20 Aug 2026 · TVS Srichakra unveils new Protorq Racing slick tyre range at racing championship | compliance | minimal | — | — |
| 14 Aug 2026 · Q1 FY27 results: Standalone revenue up 31 percent, profit up 61 percent YoY | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| JK TYRE & INDUSTRIES LTD |
| 10,235 |
| 15.3 |
| 1.69 |
| 7.6 |
| 12.8 |
| 9.9 |
| 12.4 |
| 7.1 |
| TVS SRICHAKRA LIMITED ◆ | 3,982 | 43.1 | 3.35 | 16.0 | 6.0 | 6.3 | 13.4 | 8.8 |
| GOODYEAR INDIA LIMITED | 1,661 | 27.0 | 2.74 | — | 10.1 | 12.2 | — | 4.3 |
| MEGAMONT LIMITED | 537 | 58.5 | 15.90 | 56.6 | 18.4 | 21.3 | — | 2.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.1 | 22.6 | 13 of 15 | 14% |
| P/B | 3.4 | 2.6 | 12 of 16 | 27% |
| ROCE | 6.3 | 9.9 | 10 of 17 | 44% |
| ROE | 6.0 | 9.9 | 11 of 17 | 38% |
| Debt / Equity | 0.6 | 0.4 | 12 of 17 | 31% |
| EBITDA margin | 8.8 | 7.6 | 6 of 16 | 67% |
| Revenue growth | 30.3 | 10.1 | 2 of 15 | 93% |
| Profit growth | 165.2 | (5.8) | 3 of 16 | 87% |
| Market cap | 3982 | 352 | 6 of 17 | 69% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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.
