Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹5666 Cr.
Stock P/E
48.4
P/B
2.8
Current Price
₹128.4
Book Value
₹ 46.1
Face Value
1
52W High
₹146.3
52W Low
₹ 90.6
Dividend Yield
0%

TVS Supply Chain Sol Overview

Business

TVS Supply Chain Solutions Ltd. (TVSSCS) is an integrated supply chain solutions provider, offering a range of services across the entire supply chain. The company designs, implements, and manages logistics solutions for various industries. Its core business model is primarily asset-light, focusing on providing end-to-end, technology-driven supply chain management, rather than owning all physical assets. TVSSCS makes money by charging clients for its integrated services, which include warehousing, transportation, freight forwarding, customs clearance, last-mile delivery, and various value-added services like kitting, packaging, and in-plant logistics. Revenue is generated through service fees, management fees, and transaction-based charges.

Revenue Mix

TVS SCS primarily operates through two key segments:

Integrated Supply Chain Solutions (ISCS): This segment focuses on providing end-to-end solutions, including contract logistics, warehousing management, transportation management, in-plant logistics, and other value-added services. These solutions are often tailored to specific client needs and involve longer-term contracts. A significant portion of its ISCS revenue comes from international markets.

Freight Forwarding and Warehousing (FFW): This segment covers services like global freight forwarding (air and ocean), customs brokerage, and standalone warehousing services. This segment typically involves more transactional business.

Geographically, the company has a strong presence in both India and international markets, with a substantial portion of its revenue derived from its international operations across Europe, North America, and Asia Pacific.

Industry

The logistics industry in India and globally is characterized by significant fragmentation, evolving rapidly with increasing formalization and technology adoption. TVSSCS operates in a competitive landscape with both large multi-national logistics players and numerous regional unorganized players. TVSSCS positions itself as one of the larger integrated logistics solutions providers in India, with a strong legacy from the TVS Group. Its key differentiation lies in its ability to offer complex, end-to-end supply chain solutions, its extensive global footprint, and its deep domain expertise across various sectors like automotive, industrial, consumer, and healthcare. It aims to be a strategic partner rather than just a service provider.

MOAT

Integrated Solutions & Domain Expertise: TVSSCS specializes in designing and managing complex, integrated supply chain solutions, which require significant operational expertise and technology integration, creating high switching costs for clients.

Global Network & Scale: An extensive network of operations across India and internationally allows for seamless cross-border logistics and provides scale advantages.

Long-standing Client Relationships: Its legacy and proven track record have enabled the company to build deep, long-term relationships with marquee clients across various industries, providing revenue visibility.

Technology & Data Analytics: Investment in proprietary technology platforms and data analytics for supply chain optimization enhances efficiency and service quality.

Brand & Trust: Being part of the reputable TVS Group lends credibility and trust, which is crucial in logistics where reliability is paramount.

Growth Drivers

Economic Growth & Manufacturing Boost: Increased manufacturing activity in India (e.g., 'Make in India') and global trade expansion will drive demand for logistics services.

Outsourcing Trend: Companies increasingly outsource their logistics functions to specialized providers like TVSSCS to improve efficiency and reduce costs.

Infrastructure Development: Government initiatives in India to improve road, rail, port, and warehousing infrastructure will enhance logistics efficiency and reach.

E-commerce Expansion: Growth in e-commerce necessitates robust warehousing, last-mile delivery, and reverse logistics capabilities.

Formalization of Logistics Sector: Post-GST implementation in India, the shift from an unorganized to an organized logistics sector benefits larger, compliant players.

Technology Adoption: Continuous advancements in automation, AI, and IoT within logistics present opportunities for efficiency gains and new service offerings.

Risks

Economic Downturns: A slowdown in global or domestic economic growth, manufacturing output, or trade volumes can directly impact demand for logistics services.

Fuel Price Volatility: Significant fluctuations in fuel prices can impact transportation costs and profitability, especially if not adequately hedged or passed on to clients.

Intense Competition & Pricing Pressure: The logistics industry is highly competitive, leading to potential pricing pressure and impacting margins.

Technology Disruption & Investment: The need for continuous investment in technology to stay competitive, adapt to new trends, and ward off disruptors.

Regulatory Changes: Changes in trade policies, customs regulations, transportation laws, and labor laws can affect operations and costs.

Client Concentration: Dependence on a few large clients could pose a risk if those relationships are impacted.

Geopolitical Risks & Supply Chain Disruptions: Global events, trade wars, or natural disasters can disrupt supply chains and impact international operations.

Management & Ownership

TVS Supply Chain Solutions is promoted by the TVS Group, a prominent Indian industrial conglomerate with a long-standing history. The management team typically comprises professionals with extensive experience in the logistics and supply chain domain, many of whom have grown within the TVS ecosystem or bring diverse industry expertise. The ownership structure includes the promoter group (TVS Group entities) holding a significant stake, along with institutional investors and public shareholders following its listing.

Outlook

TVS SCS is well-positioned to capitalize on the secular growth trends in the logistics sector, driven by India's economic expansion, increased formalization, infrastructure push, and the global trend of outsourcing supply chain management. Its established global footprint, integrated solutions capability, and long-standing client relationships provide a stable foundation. However, the company operates in a highly competitive and fragmented industry, requiring continuous investment in technology and efficiency improvements. It remains susceptible to macroeconomic headwinds, fuel price volatility, and the need to manage client relationships effectively while balancing growth with profitability in a dynamic market environment.

TVS Supply Chain Sol Share Price

Live · BSE / NSE · Inception: 2004
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

TVS Supply Chain Sol Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 2426 2539 2513 2445 2499 2592 2663 2716 3032 3335
Other Income 14 6 22 7 13 9 16 15 10 14
Total Income 2441 2546 2534 2452 2512 2601 2678 2730 3043 3349
Total Expenditure 2261 2358 2337 2295 2330 2415 2485 2518 2814 3110
Operating Profit 180 187 197 157 182 186 193 213 229 238
Interest 38 40 41 39 37 38 33 42 45 45
Depreciation 139 135 140 136 133 130 137 147 156 161
Exceptional Income / Expenses 0 0 0 0 0 -91 0 -9 -5 0
Profit Before Tax 3 13 17 -18 12 -74 22 15 23 32
Provision for Tax -0 6 7 9 17 32 7 5 7 10
Profit After Tax 4 6 10 -26 -5 -106 15 10 16 22
Adjustments 1 0 -1 2 0 176 0 1 2 -1
Profit After Adjustments 4 6 9 -25 -5 70 16 11 18 21
Adjusted Earnings Per Share 0.1 0.1 0.2 -0.6 -0.1 1.6 0.4 0.2 0.4 0.5

TVS Supply Chain Sol Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 4293 5032 5342 6780 6605 6934 9250 9994 9200 9996 11003 11746
Other Income 32 22 48 54 188 66 50 76 50 58 52 55
Total Income 4325 5054 5390 6834 6793 7000 9300 10070 9250 10054 11055 11800
Total Expenditure 4082 4819 5147 6254 6356 6540 8632 9325 8497 9323 10227 10927
Operating Profit 242 235 243 580 437 460 668 745 753 731 828 873
Interest 61 75 55 146 237 182 160 193 210 164 165 165
Depreciation 67 73 88 418 445 443 461 502 557 544 570 601
Exceptional Income / Expenses 17 0 0 7 0 50 -35 -10 -26 0 -106 -14
Profit Before Tax 132 88 103 25 -242 -116 14 46 -36 29 169 92
Provision for Tax 44 42 53 41 6 -43 58 -2 22 39 51 29
Profit After Tax 88 47 50 -15 -248 -74 -45 48 -58 -10 117 63
Adjustments -7 0 4 -17 56 -2 -3 -8 -43 -4 -3 2
Profit After Adjustments 81 47 54 -33 -192 -76 -48 40 -101 -14 114 66
Adjusted Earnings Per Share 3.2 1.5 1.7 -1 -6.1 -2.4 -1.3 1.1 -2.3 -0.3 2.6 1.5

TVS Supply Chain Sol Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 402 558 624 620 511 491 714 724 1815 1802 2034
Minority's Interest 35 74 61 40 80 40 40 36 30 34 29
Borrowings 355 221 710 904 959 941 735 499 3 3 117
Other Non-Current Liabilities 37 101 121 758 992 947 1013 1027 960 844 1165
Total Current Liabilities 1495 1654 1758 2214 2786 2397 3151 3801 2872 2920 3672
Total Liabilities 2323 2607 3273 4594 5377 4866 5654 6087 5679 5601 7017
Fixed Assets 748 625 902 2025 2034 1987 2141 2296 2350 2165 2859
Other Non-Current Assets 138 154 130 164 189 268 267 337 210 271 398
Total Current Assets 1437 1827 2241 2323 3091 2552 3246 3454 3119 3166 3759
Total Assets 2323 2607 3273 4594 5377 4866 5654 6087 5679 5601 7017

TVS Supply Chain Sol Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 240 167 427 360 479 890 538 994 1086 509 545
Cash Flow from Operating Activities 173 110 70 372 190 712 621 734 128 672 746
Cash Flow from Investing Activities -389 -166 -78 -235 -363 63 -381 -233 -122 -147 -292
Cash Flow from Financing Activities 140 331 -77 -17 557 -1167 217 -419 -592 -495 -449
Net Cash Inflow / Outflow -76 275 -86 120 384 -392 458 81 -586 30 5
Closing Cash & Cash Equivalent 172 427 360 475 885 538 994 1086 509 545 613

TVS Supply Chain Sol Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 3.16 1.47 1.69 -1.03 -6.06 -2.41 -1.33 1.09 -2.3 -0.31 2.59
CEPS(Rs) 6.07 3.79 4.34 12.71 6.19 11.64 11.48 15.09 11.34 12.1 15.58
DPS(Rs) 0.06 0.05 0.13 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 15.73 17.63 19.72 19.42 15.52 14.18 18.75 18.37 40.42 40.37 45.62
Core EBITDA Margin(%) 4.9 4.24 3.65 7.76 3.77 5.68 6.67 6.7 7.64 6.73 7.05
EBIT Margin(%) 4.48 3.25 2.95 2.53 -0.08 0.95 1.87 2.39 1.89 1.93 3.03
Pre Tax Margin(%) 3.07 1.75 1.92 0.37 -3.66 -1.68 0.15 0.46 -0.39 0.29 1.53
PAT Margin (%) 2.05 0.92 0.93 -0.23 -3.76 -1.07 -0.49 0.48 -0.63 -0.1 1.06
Cash Profit Margin (%) 3.61 2.38 2.57 5.93 2.97 5.33 4.5 5.49 5.42 5.34 6.24
ROA(%) 4.45 1.89 1.69 -0.39 -4.98 -1.44 -0.85 0.81 -0.98 -0.17 1.85
ROE(%) 23.76 9.69 8.39 -2.49 -44.82 -15.69 -7.95 7.07 -4.72 -0.54 6.17
ROCE(%) 15.89 11.21 9.75 8.89 -0.21 2.79 7.67 9.19 6.54 7.32 11.51
Receivable days 60.38 68.34 80.37 69.49 69.52 64.95 48.69 46.27 52.2 51.91 51.12
Inventory Days 10.81 8.57 8.22 8.07 9.28 10.46 10.25 11.62 14.51 14.01 15.15
Payable days 181.92 242.4 360.41 408.64 397.17 423.7 410.47 383.16 309.36 288.85 286.06
PER(x) 0 0 0 0 0 0 0 0 0 0 35.15
Price/Book(x) 0 0 0 0 0 0 0 0 3.82 3 2
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.2 0.11 0.14 0.15 0.16 0.15 0.09 0.09 0.76 0.56 0.4
EV/Core EBITDA(x) 3.5 2.31 3.08 1.81 2.46 2.23 1.19 1.15 9.29 7.63 5.32
Net Sales Growth(%) 37.26 17.23 6.15 26.92 -2.59 4.98 33.41 8.05 -7.95 8.65 10.08
EBIT Growth(%) 55.97 -15.09 -3.44 8.77 -102.96 1398.02 162.57 37.63 -27.04 10.85 73.15
PAT Growth(%) 135.03 -47.17 6.52 -131.14 -1507.33 70.2 39.27 206.17 -221.13 83.3 1313.9
EPS Growth(%) 141.11 -53.4 15.15 -160.78 -489.02 60.31 44.78 182.32 -310.22 86.6 940.97
Debt/Equity(x) 2.49 1.71 1.76 2.47 4.38 3.36 2.59 2.98 0.45 0.48 0.55
Current Ratio(x) 0.96 1.1 1.28 1.05 1.11 1.06 1.03 0.91 1.09 1.08 1.02
Quick Ratio(x) 0.87 1.04 1.2 0.97 1.05 0.97 0.94 0.82 0.95 0.95 0.88
Interest Cover(x) 3.17 2.17 2.87 1.17 -0.02 0.36 1.08 1.24 0.83 1.18 2.02
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.12 0.16 0.28

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +10% +3% +10% +10%
Operating Profit CAGR +13% +4% +12% +13%
PAT CAGR — +35% — +3%
Share Price CAGR +2% -16% — —
ROE Average +6% 0% 0% -2%
ROCE Average +12% +8% +8% +8%

TVS Supply Chain Sol Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 43.03 %
FII 2.38 %
DII (MF + Insurance) 2.17 %
Public (retail) 52.42 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 43.1343.1243.0943.0443.0343.0343.0343.0343.0343.03
FII 0.230.242.353.313.583.363.482.742.452.38
DII 6.135.523.093.062.882.432.32.182.172.17
Public 50.5151.1251.4650.650.5151.1751.1952.0552.3452.42
Others 0000000000
Total 100100100100100100100100100100

TVS Supply Chain Sol Peer Comparison

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TVS Supply Chain Sol Quarterly Price

10-year quarterly close · BSE
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News & Updates

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TVS Supply Chain Sol Pros & Cons

Pros

  • Debtor days have improved from 288.85 to 286.06days.

Cons

  • Promoter holding is low: 43.03%.
  • Company has a low return on equity of 0% over the last 3 years.
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