TVS MOTOR COMPANY LIMITED

Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 TVS ~
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No. (044) 28332113 Email :contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2023
(Rs. In Crores)
Quarter Ended Year Ended
s. Particulars 31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022
No
(Unaudited) (Audited)
1 Sales in Numbers 868417 879423 856446 3682068 3309568
2 Revenue from Operations 6,604.78 6,545.42 5,530.31 26,378.09 20,790.51
3 Other income 70.50 6.49 8.18 100.57 18.99
Total Income 6,675.28 6,551.91 5,538.49 26,478.66 20,809.50
4 Expenditure
a) Cost of materials consumed 4,840.41 4,881.80 4,228.85 19,609.61 15,546.65
b) Purchase of stock-in-trade 100.01 101.19 74.62 378.00 286.05
c) Changes in inventories of finished goods, work-in-process and stock-in-trade 39.24 (40.06) (92.02) 5.21 (24.53)
d) Employee benefits expense 337.72 340.89 284.08 1,345.09 1,136.95
e) Finance cost 36.28 31.63 33.01 140.66 125.92
f) Depreciation and amortisation expense 167.36 158.32 159.31 631.23 611.44
g) Other expenses 607.64 602.67 477.96 2,365.49 1,883.65
Total 6,128.66 6,076.44 5,165.81 24,475.29 19,566.13

5 Profit / (Loss) before Exceptional items (2+3-4) 546.62 475.47 372.68 2003.37 1,243.37
6 Exceptional Item - (Gain)/ Loss - - - - 30.16
7 Profit/ (Loss) before tax (5-6) 546.62 475.47 372.68 2003.37 1,213.21
8 Tax expense/ (credit)
a) Current tax 124.75 107.38 85.30 503.65 300.02
b) Deferred tax 11.60 15.34 12.88 8.69 19.63
Total tax expense/ (credit) 136.35 122.72 98.18 512,34 319.65
9 Profit/ (Loss) for the period (7-8) 410.27 352.75 274.50 1491.03 893.56
10 Other Comprehensive Income/ (Loss) (net of tax)
a) Items that will not be reclassified to profit or loss (30.63) (1.12) (19.83) (30.68) (66.34)
b) Items that will be reclassified to profit or loss 15.24 16.93 (13.38) 3.00 2.03
Total Other Comprehensive Income/ (Loss) (net of tax) (15.39) 15.81 (33.21) (27.68) (64.31)
11 Total Comprehensive Income/ (Loss) for the period (9+10) 394.88 368.56 241.29 1,463.35 829.25
12 Paid up equity share capital (Face value of Re.1/- each) 47.51 47.51 47.51 47.51 47.51
13 Reserve excluding Revaluation Reserves - - - 6,000.34 4,774.53
14 Earnings Per Share (Face value of Re. 1/- each) (not annualised)
(i) Basic (in Rs.) 8.64 7.42 5.78 31.38 18.81
(i i) Diluted (in Rs.) 8.64 7.42 5.78 31.38 18.81

Notes:
1 The Operations of the Company relate to only one segment viz., automotive vehicles and parts.
2 During the quarter ended 31st March 2023, the Company has made the following investments in its Subsidiaries:
(i) Rs.354.83 Crores in Equity shares of TVS Motor (Singapore) Pte Limited, Singapore;
(ii) Rs.200.00 Crores in Equity shares of TVS Credit Services Limited, Chennai and Rs.SO.DO Crores in Non-Cumulative Optionally Convertible
Redeemable Preference shares of TVS Motor Services Limited, Chennai;
3 The Company has allotted on 14th March 2023, 12500 Listed, Rated, Unsecured Redeemable, Floating rate Non-Convertible Debentures (NCDs) of
face value of Rs. 1 Lakh each aggregating to Rs. 125 Crores with a tenor of 3 years at initial coupon rate 7.90% p.a. The NCDs are listed with
National Stock Exchange of India Limited (NSE) on 15th March 2023.
4 Other income for the quarter includes Rs.61.69 Crores being gain on fair valuation of an investment held by the Company.
5 Exceptional item reported during the previous year represents COVID 19 related expenses incurred by the Company.
6 The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date
figures upto the third quarter of the respective financial years, which were subjected to limited review. Previous period's figures have been regrouped
wherever necessary to conform to the current period's classification.
7 The above audited financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their
respective meetings held on 04th May 2023. The Statutory Auditors of the Company have expressed an unmodified opinion on these financial results.

For TVS Motor Company Limited

Date : 4th May 2023 Prof. _Sir Ralf Dieter Speth

Chairman
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 rvs ~
Website:www.tvsmotor.com Telephone No, (044) 28332115 Fax No. (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
Additional disclosures as per Regulations 52(41 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
1. Pursuant to Non-Convertible Debentures (NCO) of TVS MOTOR COMPANY LIMITED being listed, below are the details on a Standalone basis as per Listing Regulations:
Quarter ended Year ended
Particulars
31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022
Net Debt to Equity (Times)
0.3 0.3 0.3 0.3 0.3
[ (Total borrowings - Cash and Cash equivalents)/ Equity]
Debt service coverage ratio (Times)
[ Earnings before Interest, Tax and Exceptional Items/ (Interest Expense + Principal repayments of long term 5.0 5.8 3.3 5.0 5.2
loan made durina the oeriod excludina oreoavment) l
Interest service coverage ratio (Times)
16.1 16.0 12.3 15.2 10.9
r Earninas before Interest Tax and Exceotional Items / I nterest Exoense l
Outstanding redeemable preference shares (Qty/ Value) NOT APPLICABLE

Capital Redemption Reserve NOT APPLICABLE

Debenture Redemption Reserve NOT APPLICABLE

Net Worth - Rs. In Crores
6,038.35 5,881.96 4,804.61 6,038.35 4,804.61
Networth as oer Section 2(57) of the Comoanies Act 2013.
Net profit after tax - Rs. In Crores 410.27 352.75 274.50 1,491.03 893.56

Earnings per share - Rs. Per share (Basic & Diluted - Not annualised) 8.64 7.42 5.78 31.38 18.81
Current ratio (Times)
0.6 0.7 0.6 0.6 0.6
rcurrent Assets / Current Liabilities l
Long term debt to working capital (Times)
[Non Current borrowing including current maturity /(Current Asset - Current Liabilities excluding current - - - - -
maturity of Lona term borrowina)l
Bad debts to Accounts receivable ratio (Times)
r Bad debts written off/ Accounts Receivables l - - - - -
Current liability ratio (Times)
0.8 0.8 0.7 0.8 0.7
'Current Liabilitv / Total Liabilitv)
Total debts to Total assets ratio (Times)
0.2 0.1 0.1 0.2 0.1
r (Non current borrowina includina current maturitv + Current borrowina) / Total Assets l
Debtors Turnover (Times)
27.4 24.7 22.6 27.4 22.6
r Annualised Turnover / Averaae Debtors 1
Inventory Turnover (Times)
16.9 17.5 13.9 16.9 13.9
r Annualised Cost of ooods sold I Averaoe Inventorv l
Operating Margin (0/o)
10.3 10.1 10.1 10,1 9.4
(Operating EBITDA / Turnover)
Net Profit Margin in 0/o
6.2 5.4 5.0 5.7 4.3
(Net profit after tax/ Turnover)

2. Pursuant to Commercial papers of TVS MOTOR COMPANY LIMITED being listed, below are the details on a standalone basis as per Listing Regulations:

i. Credit rating issued by CARE for Commercial paper (CP): Al+

ii. Previous due dates for payment of interest/ principal of CP repayment NOT APPLICABLE

iii .. Details of Commercial Papers issued during the quarter ended 31st March 2023 NOT APPLICABLE

iv. Next due date for payment of interest/ principal of Commercial Paper repayment NOT APPLICABLE

3. The Company has maintained asset cover sufficient to discharge the principal amount at all times for the non-convertible debt securities issued.

Note: Previous period's figures have been regrouped wherever necessary to conform to the current year's classification .

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 TVS MOTOR COMPANY LIMITED rvs ~
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No. (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2023
(Rs. In Crores)
Quarter Ended Year Ended
s. Particulars 31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022
No
(Unaudited) (Audited)
1 Revenue from Operations 8,031.40 8,066.13 6,585.20 31,973.99 24,355.31
2 Other income 67.14 8.93 13.55 138.00 32.87
Total Income 8,098.54 8,075.06 6,598.75 32,111.99 24,388.18
3 Expenditure
a) Cost of materials consumed 4,943.87 4,955.80 4,340.09 20,093.26 15,938.65
b) Purchase of stock-in-trade 136.49 305.63 357.66 890.95 579.04
c) Changes in inventories of finished goods, work-in-process and stock-in-trade 17.96 (90.43) (322.63) (140.93) (260.40)
d) Employee benefits expense 762.26 718.17 562.90 2,890.25 2,124.62
e) Finance cost 398.26 339.40 262.52 1,367.89 940.22
f) Depreciation and amortisation expense 231.78 215.91 206.95 858.86 742.86
g) Other expenses 1,116.93 1,155.05 817.02 4,173.08 3,218.77
Total 7,607.55 7,599.53 6,224.51 30,133.36 23,283.76

4 Profit/ (Loss) before Share of Profit /(Loss) of associates and

Exceptional items (1+2-3) 490.99 475.53 374.24 1,978.63 1,104.42
5 Share of profit/(loss) of Associates (4.49) (10.98) (4.62) (40.73) 2.49
6 Profit/ (Loss) before Exceptional items (4+5) 486.50 464.55 369.62 1,937.90 1,106.91
7 Exceptional Items - (Gain)/ Loss 0.71 1.96 1.87 40.12
8 Profit/ (Loss) before tax (6-7) 486.50 463.84 367.66 1;936.03 1,066.79
9 Tax expense / (Credit)
a) Current tax 195.45 157.36 109.86 703.46 364.55
b) Deferred tax (44.62) 2.84 (16.87) (76.89) (28.64)
Total tax expense/ (Credit) 150.83 160.20 92.99 626.57 335.91
10 Profit/ (Loss) for the period (8-9) 335.67 303.64 274.67 1,309.46 730.88
11 Other Comprehensive Income/ (Loss), net of tax
a) Items that will not be reclassified to profit or loss (32.32) (13.20) (16.03) (30.76) (66.37)
b) Items that will be reclassified to profit or loss 11.06 88.04 34.69 90.04 69.26
Total Other Comprehensive Income/ (Loss), net of tax (21.26) 74.84 18.66 59.28 2.89
12 Total Comprehensive Income/ (Loss) for the period (10+11) 314.41 378.48 293.33 1,368.74 733.77
13 Net Profit/ (Loss) attributable to
a) Owners of the Company 336.10 300.89 277.45 1,328.67 756.82
b) Non controlling interest (0.43) 2.75 {2.78) (19.21) (25.94)
14 Other Comprehensive income / (Loss) attributable to
a) Owners of the Company (15.89) 71.29 8.26 35.99 (11.77)
b) Non controlling interest (5.37) 3.55 10.40 23.29 14.66
15 Total Comprehensive income / (Loss) attributable to
a) Owners of the Company 320.21 372.18 285.71 1,364.66 745.05
b) Non controlling interest (5.80) 6.30 7.62 4.08 {11.28)
16 Paid up equity share capital (Face value of Re.1/- each) 47.51 47.51 47.51 47.51 47.51
17 Reserve excluding Revaluation Reserves 5,457.49 4,351.94
18 Earnings Per Share (Face value of Re. 1/- each) (not annualised)
(i) Basic (in Rs.) 7.07 6.33 5.84 27.97 15.93
(ii) Diluted (in Rs.) 7.07 6.33 5.84 27.97 15.93
Notes:

1 Exceptional items reported in the above financials represent one time costs associated with voluntary separation during both the years and COVID 19 related expenses
incurred during the previous year.
2 The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date
figures upto the third quarter of the respective financial years, which were subjected to limited review. Figures for the previous periods have been
regrouped, wherever necessary, to conform to the current period's classification.
3 The above audited financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their
respective meetings held on 04th May 2023. The Statutory Auditors of the Company have expressed an unmodified opinion on these financial results.

For TVS Motor Company Limited

Date : 4th May 2023 Prof. Sir Ralf Dieter Speth

Chairman
 TVS Motor Company Limited
Regd officE!: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 TVS ~
Website:www.tvsmotlt>r,com Telephone No. (044) 28332115 Fax No, (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
Additional disclosures as per Regulations 52(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

1. Pursuant to Non-Convertible Debentures (NCO) of TVS MOTOR COMPANY LIMITED being listed, below are the details on a Consolidated basis as per Listing Regulations:
Quarter ended Year ended
Particulars
31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022

Net Debt to Equity (Times)

3.6 3.4 3.1 3.6 3.1
[ (Total borrowings - Cash and Cash equivalents)/ Equity]
Debt service coverage ratio (Times) (Excluding NBFC Subsidiary)
[ Earnings before Interest, Tax and Exceptional Items/ (Interest Expense + Principal repayments of long 2.7 3.5 2.2 2.9 2.7
term loan made durina the oeriod excludina oreoavment) l
Interest service coverage ratio (Times) (Excluding NBFC Subsidiary)
8.1 8.0 8.5 8.2 7.2
r Earninas before Interest. Tax and Exceotional Items / Interest Exoense l
Outstanding redeemable preference shares (Qty / Value) NOT APPLICABLE

Capital Redemption Reserve NOT APPLICABLE

Debenture Redemption Reserve . NOT APPLICABLE

Net Worth - Rs. In Crores
5,422.76 5,350.71 4,324.92 5,422.76 4,324.92
Networth as per Section 2(57) of the Companies Act 2013.
Net profit after tax - Rs. In Crores 335.67 303.64 274.67 1,309.46 730.88

Earnings per share - Rs. Per share (Basic & Diluted - Not annualised) 7.07 6.33 5.84 27.97 15.93
Current ratio (Times)
0.9 1.1 0.9 0.9 0.9
rcurrent Assets / Current Liabilities l
Long term debt to working capital (Times)
[Non Current borrowing including current maturity /(Current Asset - Current Liabilities excluding current 3.0 2.8 3.5 3.0 3.5
maturity of Lonq term borrowina)l
Bad debts to Accounts receivable ratio (Times)
[ Bad debts written off/ Accounts Receivables 1
- - - - -
Current liability ratio (Times)
0.7 0.6 0.6 0.7 0.6
'Current Liability/ Total LiabiliM
Total debts to Total assets ratio (Times)
0.6 0.6 0.6 0.6 0.6
r (Non current borrowinq includina current maturitv + Current borrowina) / Total Assets l
Debtors Turnover (Times)
26.5 24.8 22.1 26.5 22.1
r Annualised Turnover/ Averaae Debtors l
Inventory Turnover (Times)
11.7 12.1 10.8 11.7 10.8
r Annualised Cost of qoods sold / Averaae Inventorv l
Operating Margin (%)
8.8 9.1 9.2 9.1 8.1
(Operating EBITDA / Turnover)
Net Profit Margin (0/o)
4.2 3.8 4.2 4.1 3.0
(Net profit after tax / Turnover)

Note: Previous period's figures have been regrouped wherever necessary to conform to the current year's classification.

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Date : 4th May 2023 , ~.,,.-' ~-------'✓ ~"f Prof. Sir Ralf Dieter Speth
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 TVS Motor Company Limited
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Regd office: nchaitanya 0
, No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No. (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Crores)
Standalone Consolidated
Particulars As at 31.03.2023 As at 31.03.2022 As at 31.03.2023 As at 31.03.2022
ASSETS
Non-Current Assets
(a) Property, Plant and Equipment 3,260.17 2,939.80 4,177.40 4,377.98
(b) Capital work-in-progress 274.12 246.22 315.81 320 .18
(c) Investment Properties - - 137.70 137.70
(d) Goodwill on consolidation - - 597.05 569.47
(e) Other Intangible assets 335.72 366.82 835.88 889.49
(f) Intangible assets under development 353.61 178.26 427.64 231 .35
(g) Financial Assets
i. Investments 5,491.95 4,585.75 364.10 109.51
ii. Loans (Receivable from financing activity) - - 10,321.42 6 ,716.45
iii. Other Financial assets 482.54 65.29 192.93 124.14
(h) Investments accounted using equity method - - 411.23 364 .82
(i) Non-current Tax assets (net) 26.72 40.54 27.60 49.60
0) Deferred Tax assets - - 305.73 217 .88
(k) Other non-current assets 100.06 77.80 111.19 130.46
Total non-current assets 10,324.89 8,500.48 18,225.68 14,239.03
Current Assets
(a) I nventories 1,236.36 1,122.68 1,921.51 1,642.36
(b) Financial Assets
i. Trade receivables 955.07 972.75 1,232.20 1,177.30
ii. Investments 191 .92 130.23 191 .92 130.23
iii. Loans (Receivable from financing activity) - - 10,225.16 7,299.25
iv. Cash and cash equivalents 234.35 328.75 1,851.19 1,445.68
v. Bank balances other than (iv) above 7.61 72.54 27.92 89.93
vi. Other Financial assets 45.78 49.53 224.21 131 .62
(c) Current Tax Assets (net) - 1.40 4.56 1.42
( d) Other current assets 996.41 723.95 1,328.56 969.84
Total current assets 3,667.50 3,401.83 17,007.23 12,887.63

Total assets 13,992.39 11,902.31 35,232.91 27,126.66

EQUITY AND LIABILITIES

Equity
(a) Equity Share capital 47.51 47.51 47.51 47.51
(b) Other Equity 6,000.34 4,774.53 5,457.49 4,351 .94
Equity attributable to owners 6,047.85 4,822.04 . 5,505.00 4,399.45
Non-controlling interest - - 404.85 653.56
Total equity 6,047.85 4,822.04 5,909.85 5,053.01
Liabilities
Non-current liabilities
(a) Financial Liabilities
i. Borrowings 1,211 .54 1,167.14 9,064.08 7,305.77
ii. Lease liability 313.24 280.70 563.51 403.05
iii. Others - - - 9.85
{b) Provisions 175.88 148.60 231.26 196.24
(c) Deferred tax liabilities (net) 198.20 197.87 208.37 207.56
(d) Other Non Current liabilit ies 37.14 44.88 37.14 44.88
Total non-current liabilities 1,936.00 1,839.19 10,104.36 8,167.35
Current liabilities
(a) Financial Liabilities
i. Borrowings 1,033.04 433.43 12,562.15 7,991.51
ii. Lease liabilities 105.54 81.45 185.84 126.88
iii. Trade payables
a. Total outstanding dues of micro and small enterprises 45.42 56.85 75.83 69.78
b. Total outstanding dues of other than (iii) (a) above 4,085.14 3,972.73 5,020.84 4,593.35
iv. Other financial liabilities 121.64 165.79 355.60 325.71
(b) Other Current Liabilities 513.29 433.65 886.65 691 .65
(c) Provisions 98.54 97.18 115.74 107.42
(d) Current Tax Liabilities (Net) 5.93 - 16.05 -
Total Current liabilities 6,008.54 5,241.08 19,218.70 13,906.30
Total liabilities 7,944.54 7,080.27 29,323.06 22,073.65

Total eauitv and liabilities 13.992.39 11,902.31 35,232.91 27,126.66

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Regd office: nchaitanyan, No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No. (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
STATEMENT OF CASH FLOW

(Rs. In Crores)
Standalone I Consolidated

S.No Particulars For the year ended

31.03.2023 31.03.2022 31.03.2023 31.03.2022

A Cash flow from operating activities:

Profit before tax 2,003.37 1,213.21 1,936.03 1,066.79
Add:
Depreciation and amortisation for the period 631.23 611.44 858.86 742.86
(Gain)/ Loss on lease preclosure (0.01) - (0.01) -
(Profit)/ Loss on sale of property, plant and equipment (net) (2.82) (2.58) (2.65) (2.47)
(Gain) on fair valuation/ sale of investments (net) (83.70) (0.23) (107.40) (0.23)
Unrealised exchange (gain)/ loss (net) 0.63 (5.66) 0.63 (5.65)
Net (profit)/ loss from Associate using equity method - - 40.73 (2.49)
Dividend income (2.25) (3.81) (0.02) (3.81)
Interest income (6.21) (6.74) (10.99) (8.16)
Finance cost [excluding relatable to financial enterprise] 140.66 125.92 199.61 158.09
Provisions 2.60 (27.83) 15.74 (25.49)
Operating profit before working capital changes 2,683.50 1,903.72 2,930.53 1,919.44
Adjustments for:
Loans given by Financial enterprise (Net) - - (6,530.88) (2,859.50)
Trade receivables 13.21 (97.39) (70.94) (142.67)
Inventories (113.68) 29.13 (313 .99) (274.93)
Other current assets (272.46) (249.47) (358.83) (377 .95)
Other financial assets (6.18) (13.02) (138.05) (90.78)
Trade payables 104.82 107.41 517.35 365:66
Other financial liabilities (3.72) 3.66 (11.55) 57.28
Other current liabilities 79.64 90.71 161.07 191.01
Other non - current assets (9.66) 32.82 18.33 3.40
Cash generated from operations 2,475.47 1,807.57 (3,796.96) (1,209.04)
Direct taxes paid (482.61) (310.00) (607.87) (366.15)
Net cash from operating activities 1,992.86 1,497.57 (4,404.83) (1,575.19)

B Cash flow from investing activities:

Purchase of property, plant and equipment
and Intangible assets after adjusting capital advance (1,015.56) (741.33) (1,340.77) (969.83)
Proceeds from Sale of Property, Plant and Equipment 18.74 13.45 21.94 13.58
Investments in subsidiaries / associates (745.48) (1,355.43) (87.17) (75.00)
Share application money paid (445.41) (20.17) - -
Sale of subsidiary - - 317.01 -
Consideration paid towards business combination - - (34.63) (619.99)
Sale/ Disposal of investments - 83.57 - 87.44
Contribution from non-controlling Interest - - 68.80 228.00
Purchase of other non-current investments (131.26) (132.01) (265.58) (146.80)
Dividend received 2.25 3.81 0.02 3.81
Interest received 4.92 7.07 12.64 7.88
Net cash from/ (used in) investing activities (2,311.80) (2,141.04) (1,307.74) (1,470.91)

C Cash flow from financing activities :

Borrowings:
Non-current borrowings availed/ (repaid) 347.59 352.45 5,467.90 2,733.00
Current borrowings availed/ (repaid) 310.00 130.00 1,119.78 620.34
Other bank balances 65.03 (1.15) 62.27 (7.24)
Finance cost paid (137.10) (123.06) (112.08) (155.74)
Repayment of lease liabilities (69.17) (54.60) (127.98) (81.94)
Dividend paid (291.81) (190.40) (291.81) (190.40)
Net cash from/ (used in) financing activities 224.54 113.24 6,118.08 2,918.02

Net change in cash and cash equivalents (A)+ (B)+ (C) (94.40) (530.23) 405.51 (128.08)
Cash and cash equivalents at the beginning of the period 328.75 858.98 1,445.68 1,573.76
Cash and cash equivalents at the end of the period 234.35 328.75 1,851.19 1,445.68

Note: The above statement of cashflow is prepared using indirect method.

For TVS Motor Company Limited

Date : 4th May 2023 ~-)~ -~

Prof. Sir Ralf Dieter Speth
Chairman
 TVS Motor Company Limited TVS ;J...
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No. (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845
CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2023

(Rs. In Crores)
Quarter Ended Year Ended Year Ended
S. No. Particulars 31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022

Unaudited Audited
1 Segment Revenue
a) Automotive Vehicles & Parts 6,704.43 6,862.78 5,696.55 27,368.31 21,249.99
b) Automotive Components 192.43 193.01 199.79 826.21 659.07
c) Financial services 1,234.82 1,093.90 767.77 4,156.35 2,747.12
d) Others 0.01 0.02 4.67 3.82 17.21

TOTAL 8,131.69 8,149.71 6,668.78 32,354.69 24,673.39

Less: Inter-Segment Revenue 100.29 83.58 83.58 380.70 318.08
Revenue from operations 8,031.40 8,066.13 6,585.20 31,973.99 24,355.31

2 Segment Results
Profit/ (Loss) before tax and interest
a) Automotive Vehicles & Parts 395.87 380.92 355.81 1,679.47 1,139.55
b) Automotive Components 7.35 11.30 (15.86) (15.39) (63.24)
c) Financial services 140.00 130.34 75.41 508.99 148.23
d) Others (3.52) 0.01 (3.30) 3.30 (2.15)

TOTAL 539.70 522.57 412.06 2,176.37 1,222.39

Less: i) Finance cost 48.71 47.75 39.78 199.61 158.09
ii) Other unallocable expenditure
net of unallocable income - - - - -

Share of profit/(loss) of Associates (4.49) (10.98) (4.62) (40.73) 2.49

Profit/ (Loss) before tax 486.50 463.84 367.66 1,936.03 1,066.79
,
3 Segment Assets
a) Automotive Vehicles & Parts 11,694.47 11,024.30 10,007.88 11,694.47 10,007.88
b) Automotive Components 433.70 427.37 1,318.19 433.70 1,318.19
c) Financial services 23,102.35 22,541.02 15,765.03 23,102.3~ 15,765.03
d) Others 2.39 2.41 35.56 2.39 35.56

Segment Assets 35,232.91 33,995.10 27,126.66 35,232.91 27,126.66

4 Segment Liabilities
a) Automotive Vehicles & Parts 9,035.62 8,074.70 7,846.42 9,035.62 7,846.42
b) Automotive Components 283.97 290.50 604.71 283.97 604.71
c) Financial services 20,001.98 19,798.87 13,609.43 20,001.98 13,609.43
d) Others 1.49 1.50 13.09 1.49 13.09

Segment Liabilities 29,323.06 28,165.57 22,073.65 29,323.06 22,073.65

For TVS Motor Company Limited

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Prof. Sir Ralf Dieter Speth
Chairman
 TVS Motor Company Limited
Regd office: "Chaitanya", No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai 600 006 TVS ~
Website:www.tvsmotor.com Telephone No. (044) 28332115 Fax No, (044) 28332113 Email:contactus@tvsmotor.com
CIN:L35921TN1992PLC022845

Annexure 1 : Security Cover Certificate As Per Regulation 54(3) of the Securities and Exchange Board Of India ( Listing Obligations and Disclosure Requirements)Regulation,2015 as on March 31,2023 (Rs. In crores)

Column A Column B Column C Column D Column E Column F Column G Column H Column I Column l Column K Column L Column M Column N
I Columno

Assets not Elimination

Exclusive Exclusive Pari- Passu Pari- Passu Pari- Passu
offered as (amount in (Total C to H) Related to only those items covered by this certificate
Charge Charge Charge Charge Charge
Security negative)

Description of Carrying /book value Carrying

Assets shared by Other assets
asset for which for exclusive charge value/book
pari passu debt on which Debt amount Market Market
Particulars Debt for Debt for assets where market value for pari
this certificate holder (includes there is pari- considered more Value for value f1:>r
which this Otl11er which this value is not passu charge Total
relate debt for which Passu charge than once (due to Assets pari
certificate Secu1red certificate ascertainable or assets where Value(=K+L+
this certificate is (excluding exclusive plus charged on passu
being Deb t being applicable (For Eg. market value is M+ N)
issued & other items pari passu Exclusive chargti
issued issued Bank Balance, DSRA not
debt with pari- covered in charge) basis assets:
market value is not ascertainable or
passu charge) column F)
applicable) applicable

Boc,k
Book Value Yes/No Book Value Book Value Rela1ting to Column F
Value
ASSETS
I
Prooertv.Plant and Eauioment
Capital Work-in- Progress
Right of Use Assets
Goodwill
Intanaible Assets
Intanaible Assets under Develooment
Investments
Loans NIL
Inventories
Trade Receivables
Cash and Cash Eauivalents
Bank Balances other than Cash and Cash
Eauivalents
Others

Total - - - - - - - - - - - - - -
LIABILITIES
Debt securities to wh ich this certificate
loertains
-
Other debt sharing pari-passu charge with
above debt
-
Other Debt ( ECB+Sec) -
Subordinated debt -
Borrowinas -
NIL
Bank (TL) -
Debt Securities ( PDI) -
Others ( CP) -
Trade payables -
Lease Liabilities -
Provisions ( Incl NPA) -
Others -Liabillities -
Total - - - - - - - - - - - - - -
Cover on Book Value - -
Cover on Market Valueix
Exclusive Pari - Passu
Security Security Cover
Cover Ratio Ratio

-
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Date : 4th May 2023 ~ ______ ..,~~
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A. Statement of utilization of issue proceeds:
Name of the ISIN Mode of Type of Date of Amount Funds Any If8 is Yes, Rema
Issuer Fund instrument raising Raised utilized deviation then rks, if
Raising funds (Rs in Cr) (Rs in (Yes/ No) specify the any
(Public Cr) purpose of
issues/ for which
Private the funds
placement) were
utilized
I 2 3 4 5 6 7 8 9 10
TVS Motor INE494B08036 Private Non- 14.03.2023 125 125 No NA -
Company Placement Convertible
Limited Debentures

B. Statement of deviation/ variation in use oflssue proceeds:

Particulars Remarks
Name oflisted entity TVS Motor Company Limited
Mode of fund raising
Private Placement
Type of instrument Non- Convertible Debentures
Date ofraising funds 14.03.2023
Amount raised Rs. 125 er
Report filed for quarter ended 31st March 2023
ls there a deviation/ variation in use of funds raised? No
Whether any approval is required to vary the objects of the issue stated No
in the prospectus/ offer document?
If yes, details of the approval so required? N.A.
Date of approval N.A.
Explanation for the deviation/ variation N.A.
Comments of the audit committee after review N.A.
Comments of the auditors, ifany N.A.
Objects for which funds have been raised and where there has been a deviation/ variation, in the following
table:
Original object Modified Original Modified Funds Amount of deviation/ Remarks,
object, if allocation allocation, if utilised variation for the quarter if any
any any according to applicable
object (in Rs. crore and in
%)
Re-financing of Not Rs. 125 er Not Rs. 125 er Not Applicable -
long terms loans & Applicable Applicable
o meet issue
related expense I

and reimbursement
of Capex financed
from internal
accruals

Deviation could mean:

a. Deviation in the objects or purposes for which the funds have been raised.
Deviation in the amount of funds actually utilized as against what was originally disclosed.

-- -
b.

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Name of the signatory: Prof. Sir Ralf Dieter Speth

Designation: Chairman
Date: 4th May 2023