TVS Supply Chain Solutions (TVSSCS) Q3 23/24 earnings summary

Executive summary

• Revenue from operations for Q3 FY24 was ₹2,221.84 crore, down 6.4% year-over-year; nine-month revenue was ₹6,773.67 crore, down 11.7% year-over-year.

• Net profit for Q3 FY24 was ₹9.99 crore, compared to a loss of ₹21.93 crore in Q2 FY24 and profit of ₹17.22 crore in Q3 FY23.

• Total comprehensive income for Q3 FY24 was ₹31.90 crore, up from a loss of ₹50.97 crore in Q2 FY24.

• IPO completed in August 2023, raising ₹525 crore (net of expenses), fully utilized by December 2023.

• Board approved a merger scheme involving several wholly owned subsidiaries and one other entity.

Financial highlights

• EBITDA for Q3 FY24 was ₹173.57 crore, up 3% year-over-year; nine-month EBITDA was ₹535.63 crore.

• Gross margin for Q3 FY24 was 17.2%, compared to 16.7% in Q2 FY24.

• EPS for Q3 FY24 was ₹0.22 (basic and diluted), compared to ₹0.47 in Q3 FY23.

• Loss from discontinued operations in Q3 FY24 was ₹18.67 crore.

• Exceptional items in Q3 FY24 included a loss of ₹3.24 crore.

Outlook and guidance

• Management expects continued focus on operational efficiency and integration post-merger.

• No explicit forward-looking revenue or profit guidance provided.

• IPO proceeds have been fully deployed, supporting debt reduction and growth initiatives.