TVS Tyres Ltd, manufacturers of two and three wheeler tyres in India has released its financial results for the financial year 2015-16. The Company has reported an improved EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the year 2015 – 2016 as compared to FY 2014 -2015.
FY 2015- 2016 Financial Highlights of the company are as follows:
- Revenue for Financial Year (FY) 2015-16 of INR 2082.06 Cr is higher by INR 182.35 Cr when compared to revenue of INR 1899.71 Cr in FY 2014-15.
- EBITDA for FY 2015-16 of INR 344.50 Cr is higher by INR 135.20 Cr when compared to EBITDA of INR 209.30 Cr in FY 2014-15.
- EBITDA margins stood at 16.5%
- PAT for FY 2015-16 stood at INR 197.21 Cr as compared to INR 103.79 Cr in FY 2014-15.
Other Performance Highlights shared by the company are –
EBITDA improved to INR 344.5 Cr as against INR 209.3 Cr in the FY 2014-15
Depreciation charges were INR 42.35 Cr as against INR 39.88 Cr in FY 2014-15.
Interest charges were at INR 14.78 Cr as against INR 29.89 Cr in FY 2014-15
Commenting on the company’s financial performance, P. Vijayaraghavan, Director, TVS Srichakra Ltd. expressed that their company turned out a fine performance in the financial year ended, with aftermarket sales growing well supported by Intense Brand Building activity, keeping up the significant position with the OEMs (original equipment manufacturers) and sustaining their exports of both Off-Road Tyres and Two-Wheeler Tyres. Material Cost Reduction, Efficiency Improvement through Operational Excellence, Better Working Capital Management, have led to cost control in various disciplines, thereby helping the company.