Company Overview

TVS Holdings Limited (CIN: L64200TN1962PLC004792), formerly Sundaram-Clayton Limited, is registered as a Core Investment Company (CIC) with RBI (Certificate No. N-07-00904) under Section 45-IA of the RBI Act, 1934. The company operates as an NBFC-CIC without accepting public deposits and falls under the Middle Layer NBFC category under RBI's Scale Based Regulations.

Financial Performance FY 2025-26

Standalone Financials:

  • Revenue from Operations: ₹516.34 Cr (Previous year: ₹637.30 Cr)
  • Profit Before Tax: ₹373.10 Cr (Previous year: ₹410.09 Cr)
  • Net Profit: ₹322.30 Cr (Previous year: ₹352.16 Cr)
  • Dividend Income: ₹286.54 crore from subsidiaries
  • Earnings Per Share: ₹159.30 (Previous year: ₹174.06)

Consolidated Performance:

  • Total Revenue: ₹58,224.50 crore (Previous year: ₹45,032.83 crore)
  • Profit Before Tax: ₹5,118.74 crore (Previous year: ₹3,593.63 crore)
  • Net Profit: ₹3,390.19 crore (Previous year: ₹2,409.25 crore)
  • Total Borrowings: ₹36,156.34 crore (Previous year: ₹32,488.03 crore)
  • Net Debt to Equity Ratio: 2.45 (Previous year: 2.74)

Key Financial Ratios:

  • Net Profit Margin: 62.45% (Previous year: 54.68%)
  • Total Debt to Total Assets Ratio: 0.44 (Previous year: 0.34)
  • Debt Equity Ratio: 0.90 (Previous year: 0.45)
  • Return on Networth: 18.37% (Previous year: 21.86%)

Dividend Distribution & Capital Management

The Board declared an interim dividend of ₹86 per share (1,720%) on 2,02,32,104 equity shares for FY 2025-26, absorbing ₹174 Cr, paid on 22nd April 2026. No further dividend is recommended. The company mobilized ₹650 Cr through issuance of Listed Non-Convertible Debentures (NCDs) at 8.10% p.a. on private placement basis.

Regulatory Status & Business Restructuring

The company received RBI registration as a Core Investment Company and wound up its trading business of automotive components during FY 2024-25 to comply with regulatory conditions. CIN was updated to reflect CIC business activity.

Scheme of Arrangement

The Board approved a Scheme of Arrangement providing for issuance and allotment of 46 Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) of face value ₹10 each fully paid up for every 1 equity share held by equity shareholders by way of bonus. The scheme received shareholder approval on 18th March 2026 and is pending final NCLT approval.

Subsidiaries and Associates

Direct Subsidiaries:

1. TVS Motor Company Limited (50.26% holding) - Total revenue ₹47,240.35 Cr, PAT ₹3,615.22 Cr

2. Home Credit India Finance Private Limited (80.39% holding) - AUM ₹6,483 Cr, PAT ₹132.24 Cr

3. TVS Digital Limited (100% holding) - Total revenue ₹55.28 Cr, PBT ₹2.10 Cr

Investment Activity:

  • Total Investments: ₹3,002.17 crore (Previous year: ₹2,267.50 crore)
  • Additional capital infusion of ₹737.50 crore in Home Credit India during the year
  • Received bonus Non-Convertible Preference Shares (4:1 ratio) from TVS Motor Company

Corporate Governance & Shareholding

The Board comprises 8 directors with 4 Independent Directors. Mr. Venu Srinivasan retires by rotation and seeks re-appointment at the AGM. Promoter & Promoter Group holds 74.45% (1,50,63,398 shares) with Mr. Venu Srinivasan representing VS Trust holding 66.55%.

Exceptional Items & Employee Benefits

The company recorded an exceptional item of ₹50.40 crores related to the impact of new labour codes notified by the Government of India. Employee Benefit Expense stood at ₹17.26 crore with Defined Benefit Obligations of ₹19.23 crore for gratuity, pension, and leave salary.

Auditor's Report & Compliance

Auditors issued an unqualified opinion confirming adequate internal financial controls and compliance with accounting standards. No material fraud was noticed or reported during the year. The company has complied with all applicable SEBI Listing Regulations and RBI guidelines for NBFC-CICs.

Subsequent Events & AGM

The 64th AGM will be held on 22nd July 2026 through Video Conferencing/OAVM. The business includes adoption of financial statements, re-appointment of Mr. Venu Srinivasan as Director, and special resolution for continuation of his directorship beyond age 75 years. No material subsequent events were reported after the balance sheet date.