TVS Electronics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹693 Cr
- ROE
- 1.71%
- Price to sales
- 1.49
- Debt to equity
- 0.56
- 52W high / low
- ₹663 / ₹341
- Sales growth (5Y)
- 15.18%
- EBITDA margin
- 3.42%
- Net profit margin
- 0.36%
- Promoter holding
- 59.78%
- Sales (last year)
- ₹465 Cr
Established in 1986, TVS Electronics Ltd manufactures and sells a wide range of products such as POS devices, printers, and keyboards. The company also provides comprehensive service solutions for various OEMs through exclusive service centers, multi-brand service centers, onsite support, repair centers, and integrated factory facilities.[1]
Guidance scorecard · Q1 FY27 call
What TVS Electronics Ltd's management guided
and where it ranks in IT - Hardware
IT - Hardware
RevenueQ4 FY26 call
10–20%- Management expects robust overall business growth across all three segments: Products & Solutions Group (PSG), Customer Support Services (CSS), and Electronic Manufacturing Services (EMS).
- Revenue growth is anticipated to be in the double-digit range, potentially low double-digits to mid-teens.
- EMS segment, particularly the Surface Mount Technology (SMT) lines, currently at 30-40% utilization, is expected to ramp up with new customers in FY27, contributing further revenue growth.
- Price increases in components like memory have short-term impacts but are expected to support revenue growth in the long run.
- Growth drivers include new customer acquisition, deepening sales in existing customer spaces, and increased demand across sectors such as Auto, Power Electronics, Industrial Electronics, BFSI, warehousing & logistics.
2 more points from TVS Electronics Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what TVS Electronics Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- TVS Electronics has planned CAPEX for FY27 focused on regular business needs and development of tools and modes.
- The CAPEX is described as "business as usual" rather than extraordinary or new large-scale investments.
- The management has already invested Rs. 40 crores in expansion projects, notably in factory expansion for the EMS business.
- Regular CAPEX will continue year-on-year to support ongoing operations and growth.
FundraisingQ4 FY26 call
See what TVS Electronics Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- The company has onboarded new customers in EMS, Products & Solutions, and Customer Support Services, indicating a growing order pipeline.
- EMS business has prototype orders from customers expected to fructify in FY27.
- Some customer orders in the Product and Solutions Group (PSG) were delayed due to supply chain issues and price increases but are expected to materialize this year.
- Management is actively working on acquiring new customers and deepening sales with existing customers across all segments.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in IT - Hardware
on management's own guidance
- Marushika Tech.Moderate growth2
- Rashi Peripherals LtdGood growth1
- Control PrintModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
IT - Hardware companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Rashi Peripherals Ltd | 20–40% | Flat | ₹5,753 Cr | 18.0 |
| 2 | Marushika Tech. | 10–20% | Up 2%+ | ₹101 Cr | 11.2 |
| 3 | Control Print | 10–20% | Up 0–2% | ₹947 Cr | 24.3 |
| 4 | TVS Electronics LtdThis stock | 10–20% | Flat | ₹734 Cr | — |
| 5 | 10–20% | Flat | ₹149 Cr | 20.2 |
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Pro shows every company guiding 40%+ revenue growth →Full IT - Hardware rankingFinancials of TVS Electronics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of TVS Electronics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 85.24 | 89.84 | 92.19 | 86.94 | 97.08 | 111.32 | 104.61 | 100.00 | 114.56 | 96.74 | 127.50 | 113.59 | 117.37 |
| Expenses + | 82.08 | 87.29 | 88.34 | 86.43 | 94.48 | 108.16 | 101.98 | 96.96 | 111.92 | 95.48 | 122.73 | 107.06 | 110.38 |
| Operating Profit | 3.16 | 2.55 | 3.85 | 0.51 | 2.60 | 3.16 | 2.63 | 3.04 | 2.64 | 1.26 | 4.77 | 6.53 | 6.99 |
| OPM % | 3.71% | 2.84% | 4.18% | 0.59% | 2.68% | 2.84% | 2.51% | 3.04% | 2.30% | 1.30% | 3.74% | 5.75% | 5.96% |
| Other Income + | -0.13 | 0.47 | 0.52 | 0.53 | 1.12 | 0.68 | 0.68 | 0.94 | 0.30 | 1.17 | 1.83 | -0.52 | 2.09 |
| Interest | 0.17 | 0.29 | 0.50 | 0.48 | 0.69 | 1.28 | 1.38 | 1.29 | 1.41 | 1.66 | 1.71 | 1.54 | 1.98 |
| Depreciation | 0.73 | 2.31 | 2.63 | 2.81 | 3.12 | 3.68 | 3.42 | 3.80 | 4.17 | 4.86 | 3.74 | 4.09 | 3.99 |
| Profit before tax | 2.13 | 0.42 | 1.24 | -2.25 | -0.09 | -1.12 | -1.49 | -1.11 | -2.64 | -4.09 | 1.15 | 0.38 | 3.11 |
| Tax % | 29.11% | 23.81% | 9.68% | -22.67% | -733.33% | 12.50% | -11.41% | -41.44% | -78.41% | -13.20% | -34.78% | -7.89% | 8.36% |
| Net Profit + | 1.51 | 0.32 | 1.12 | -1.74 | 0.57 | -1.26 | -1.32 | -0.65 | -0.57 | -3.55 | 1.55 | 0.41 | 2.85 |
| EPS in Rs | 0.81 | 0.17 | 0.60 | -0.93 | 0.31 | -0.68 | -0.71 | -0.35 | -0.31 | -1.90 | 0.83 | 0.22 | 1.53 |
Financials of TVS Electronics Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 270 | 594 | 2,519 | 4,107 | 2,757 | 259 | 225 | 308 | 353 | 366 | 430 | 455 |
| Expenses + | 254 | 577 | 2,504 | 4,083 | 2,739 | 247 | 215 | 281 | 334 | 356 | 419 | 436 |
| Operating Profit | 16 | 16 | 15 | 25 | 18 | 11 | 9 | 27 | 20 | 10 | 11 | 20 |
| OPM % | 6% | 3% | 1% | 1% | 1% | 4% | 4% | 9% | 6% | 3% | 3% | 4% |
| Other Income + | 1 | 3 | 2 | 5 | -0 | 1 | 1 | 2 | 2 | 3 | 3 | 5 |
| Interest | 7 | 6 | 3 | 1 | 0 | 2 | 2 | 1 | 1 | 2 | 5 | 7 |
| Depreciation | 7 | 9 | 6 | 4 | 4 | 10 | 8 | 6 | 7 | 11 | 15 | 17 |
| Profit before tax | 3 | 5 | 9 | 24 | 14 | -0 | 1 | 21 | 13 | -1 | -6 | 1 |
| Tax % | 28% | 21% | 27% | 34% | 48% | -2,050% | 18% | 27% | 26% | -140% | -40% | -129% |
| Net Profit + | 2 | 4 | 6 | 16 | 7 | 0 | 1 | 15 | 10 | 0 | -4 | 1 |
| EPS in Rs | 1.27 | 2.32 | 3.40 | 8.73 | 4.00 | 0.21 | 0.41 | 8.10 | 5.10 | 0.14 | -2.03 | 0.68 |
| Dividend Payout % | 0% | 0% | 15% | 17% | 38% | 717% | 0% | 25% | 39% | 691% | 0% | 0% |
Financials of TVS Electronics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 20 | 25 | 49 | 65 | 68 | 62 | 63 | 74 | 83 | 80 | 74 | 77 |
| Borrowings + | 53 | 35 | 24 | 3 | 0 | 26 | 7 | 9 | 14 | 40 | 43 | 54 |
| Other Liabilities + | 51 | 79 | 292 | 949 | 78 | 71 | 81 | 101 | 106 | 105 | 125 | 133 |
| Total Liabilities | 142 | 157 | 383 | 1,036 | 165 | 178 | 170 | 203 | 221 | 244 | 261 | 283 |
| Fixed Assets + | 41 | 38 | 32 | 28 | 30 | 37 | 29 | 26 | 34 | 57 | 63 | 57 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 1 | 3 | 1 | 0 | 1 |
| Investments | 1 | 0 | 7 | 5 | 16 | 1 | 17 | 35 | 12 | 26 | 8 | 8 |
| Other Assets + | 100 | 118 | 344 | 1,003 | 118 | 139 | 121 | 140 | 171 | 161 | 190 | 217 |
| Total Assets | 142 | 157 | 383 | 1,036 | 165 | 178 | 170 | 203 | 221 | 244 | 261 | 283 |
Financials of TVS Electronics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 10 | 27 | 20 | 40 | -6 | -6 | 34 | 26 | -8 | 14 | 6 | 6 |
| Cash from Investing Activity + | -4 | -3 | -1 | 0 | -16 | 17 | -19 | -20 | 6 | -40 | 13 | -4 |
| Cash from Financing Activity + | -8 | -20 | -12 | -21 | -7 | -0 | -21 | -4 | 1 | 19 | -18 | -3 |
| Net Cash Flow | -1 | 4 | 7 | 19 | -29 | 11 | -6 | 2 | -1 | -7 | 1 | -1 |
| Free Cash Flow | 6 | 21 | 18 | 44 | -11 | -10 | 31 | 23 | -24 | -14 | -3 | 1 |
| CFO/OP | 67% | 168% | 147% | 174% | -14% | -75% | 361% | 110% | -16% | 170% | 97% | 29% |
Financials of TVS Electronics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 18 | 18 | 36 | 3 | 60 | 45 | 42 | 48 | 63 | 61 | 76 |
| Inventory Days | 58 | 32 | 23 | 45 | 4 | 90 | 122 | 112 | 122 | 106 | 109 | 112 |
| Days Payable | 59 | 38 | 42 | 86 | 8 | 156 | 198 | 162 | 134 | 139 | 141 | 129 |
| Cash Conversion Cycle | 39 | 11 | -1 | -6 | -0 | -6 | -32 | -9 | 36 | 30 | 29 | 59 |
| Working Capital Days | -44 | -14 | -3 | -2 | 0 | 7 | -1 | -4 | 22 | 19 | 13 | 22 |
| ROCE % | 11% | 11% | 13% | 25% | 21% | 6% | 4% | 22% | 12% | 1% | -2% | 6% |
Guidance history
How TVS Electronics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY25 call → | 10–20% | Up 0–2% | Planned | — | — |
| Q2 FY25 call → | 10–20% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
7 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −39.2% | 12% |
| Last 6 months | −19.6% | 19% |
| Last 3 months | −22.8% | 11% |
The price is 44.6% below its all-time high of ₹670.7 (7 Oct 2025). Stocks more than 20% below their peak have their score halved, so 15 became 7.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For TVS Electronics Ltd: 0.4 × 12 + 0.4 × 19 + 0.2 × 11 = 15, halved to 7 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What TVS Electronics Ltd's management said in earlier quarters
Others in IT - Hardware this season
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