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TVS Holdings Limited (TVSHLTD) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of TVS Holdings Limited ₹7,008, price ₹11,886, upside -41.0%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · IN · ISIN INE105A01035

TH Some data Sep 30, 2026

TVS Holdings Limited

TVSHLTD · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹7,008 · Strongly overvalued (−41.0%)
!Quality 43/100
!Expensive Growth (revenue 5y +23.4 %/yr)
!Thin margins · 3.6% net margin (TTM)
!High debt · negative free cash flow
!0.7% dividend yield · Token dividend
!Trails peers (5/13)
!Narrow moat 40/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 14 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹15,643 ₹2,692 Fair Value ₹7,008 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.

How to read this chart

60‑month range ₹2,692 – ₹15,643 · fair‑value band ₹4,859 – ₹8,760 · the ₹11,886 price screens above the ₹7,008 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 30, 2026.

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Company profile

TVS Holdings Limited provides automotive vehicles and parts in India and internationally. It offers two and three-wheelers; and mobility solutions through a portfolio of e-bikes, e-cargo bikes, and matching accessories.

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TVS Holdings Limited provides automotive vehicles and parts in India and internationally. It offers two and three-wheelers; and mobility solutions through a portfolio of e-bikes, e-cargo bikes, and matching accessories. The company also provides unsecured loans; financing services for two wheelers, used cars, used and new tractors, used commercial vehicles, and consumer durables; and digital finance products, emerging and corporate business loans, and personal loans. In addition, it is involved in the procurement, refurbishment, and retailing of the pre-owned multi-brand two-wheeler motorcycles and scooters through its own stores, as well as through its franchisee dealers; and trading of spare parts, accessories, and engine oils for two-wheelers. Further, the company offers digital / information technology and other related services; and solutions across autotech and fintech platforms. Additionally, it engages in investment activities. The company was formerly known as Sundaram-Clayton Limited and changed its name to TVS Holdings Limited in July 2023. TVS Holdings Limited was incorporated in 1962 and is based in Chennai, India.

Stock analysis

TVS Holdings Limited (TVSHLTD) currently trades at ₹11,886, while our model-based Fair Value estimate is ₹7,008, 41.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹20,604 per share, and 11 of the 17 models we run sit above the ₹11,886 price.

Bear case: the Dividend Discount group reads lowest at ₹1,711, and 6 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: ₹4,859 (bear) to ₹8,760 (bull), the price of ₹11,886 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

TVS Holdings Limited reported revenue of ₹582B in FY2026 versus ₹256B in FY2022, a compound +22.8%/yr. Reported net income was ₹17.0B in FY2026, compounding +40.1%/yr from FY2022.

Key figures

Market cap ₹240B (≈ $2.5B) · P/E ratio 12.2 · P/S ratio 0.36 · EPS (TTM) ₹973.74 · Dividend yield 0.7% · Net margin 2.9% · Return on equity 29.4% · Return on assets (EBIT) 12.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 24% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −32% fair-value upside, at −41%, TVSHLTD screens richer than that median.

Fair Value models

Bear ₹4,859 Fair Value ₹7,008 Bull ₹8,760
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹449.95 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹5,947 ₹8,086 ₹9,932 73
Residual Income ₹5,137 ₹7,778 ₹17,514 69
ROIC Compounder ₹7,636 ₹14,107 ₹20,239 69
All 17 models by family
DCF Models
Owner Earnings ₹4,340 ₹16,423 ₹38,991 67
Earnings-Based
Graham-Dodd ₹5,699 ₹34,025 ₹47,411 63
Lynch FV ₹9,686 ₹13,837 ₹17,989 61
PEG = 1.0 ₹9,686 ₹13,837 ₹17,989 57
EPV ₹5,947 ₹8,086 ₹9,932 73
Dividend Discount
Gordon GGM ₹993.51 ₹1,980 ₹2,998 67
DDM Multi-Stage ₹993.51 ₹1,711 ₹2,090 67
Multiples
P/E Multiple ₹13,829 ₹18,439 ₹23,048 63
P/S Multiple ₹10,686 ₹14,248 ₹17,810 57
P/B Multiple ₹9,587 ₹12,783 ₹15,979 55
EV/EBIT ₹18,288 ₹26,918 ₹35,549 64
EV/EBITDA ₹12,786 ₹19,582 ₹26,378 66
EV/Revenue ₹4,474 ₹9,650 ₹14,826 50
Asset-Based
NCAV (Graham) ₹1,598 ₹2,141 ₹3,196 53
Economic Profit
Residual Income ₹5,137 ₹7,778 ₹17,514 69
ROIC Compounder ₹7,636 ₹14,107 ₹20,239 69
Growth Earnings
Growth-Adj P/E ₹14,423 ₹20,604 ₹26,785 67

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Quality Score breakdown

Overall quality 43/100

Of which business quality 41 · Market factors (momentum, volatility) 40

Profitability 52
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+50.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.4%
Start year 2021 (pandemic). Over 10 years: +16.7% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.0%
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+38.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.2%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.38.1% vs 19.2%, picking up
Profit margin 2005 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 13%
2026 sits 112% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)

TVSHLTD screens overvalued: fair value 41% below the price. Compare with O'Reilly Automotive, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Auto Parts · 676 stocks

Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside −41.0% · Below median
Profitability
Return on equity (TTM) 29.4% · Top 25%
Return on assets −0.3% · Bottom 25%
Net margin (TTM) 7.3% · Above median
Operating margin (TTM) 0.2% · Bottom 25%
Growth and dividend
Revenue growth 35.7% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Balance sheet
Debt / equity 5.59× · Highest 25%

Valuation Multiplesvs Auto Parts median · lower = cheaper

P/E (TTM) 12.2× · Cheapest 25%
P/B 3.72× · Priciest 25%
P/S (TTM) 0.89× · Cheaper than median
EV/EBITDA 117.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)100 · sector 28
PAST (return on equity)100 · sector 29
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)14 · sector 38

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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10 more Auto Parts stocks, each showing price versus our Fair Value estimate.

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Genuine Parts Company GPC $126.95 $57.98 −54%
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Cite: Fair Value Calculator (2026). "TVS Holdings Limited Fair Value". https://www.fairvalue-calculator.com/stock/TVSHLTD

Frequently asked questions

Is TVS Holdings Limited (TVSHLTD) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of ₹7,008 versus a price of ₹11,886, about −41% upside (overvalued).
What is the fair value of TVSHLTD?
Our model-based fair value for TVS Holdings Limited is ₹7,008 (as of Sep 30, 2026), built from audited fundamentals. The current price: ₹11,886.
What is the quality score of TVSHLTD?
TVS Holdings Limited has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for TVS Holdings Limited (TVSHLTD)?
Our model-based price target is the fair value of ₹7,008 (as of Sep 30, 2026) from 17 valuation models. Cautious scenario ₹4,859, optimistic scenario ₹8,760. It is a calculation from audited fundamentals, not an analyst target.
What is the TVS Holdings Limited stock forecast for 2026?
Our models put fair value at ₹7,008, about −41% upside versus a price of ₹11,886 (overvalued). Cautious scenario ₹4,859, optimistic scenario ₹8,760. The calculation is refreshed regularly with new filings.
What is the revenue of TVS Holdings Limited (TVSHLTD)?
TVS Holdings Limited reported trailing-twelve-month revenue of about ₹541B (latest available figure, as of Sep 30, 2026).
Does TVS Holdings Limited pay a dividend?
TVS Holdings Limited currently shows a dividend yield of about 0.72% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of TVS Holdings Limited (TVSHLTD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TVS Holdings Limited it is ₹7,008 per share (as of Sep 30, 2026), against a price of ₹11,886. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is TVS Holdings Limited stock overvalued or undervalued in 2026?
As of Sep 30, 2026, TVSHLTD trades above its calculated fair value: price ₹11,886, fair value ₹7,008, a gap of about −41% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TVSHLTD?
No. The price is what the market pays today (₹11,886); the fair value is what the company's own numbers justify (₹7,008). For TVS Holdings Limited the two are ₹4,878 per share apart. That gap is exactly why we show both numbers side by side.
How much is TVS Holdings Limited worth?
The market values TVS Holdings Limited at about ₹240B (market capitalisation, as of Sep 30, 2026). Per share that is ₹11,886; our models calculate a fair value of ₹7,008 per share.
What do the bullish and bearish scenarios say about TVSHLTD?
Our models span a range for TVS Holdings Limited: cautious scenario ₹4,859, base ₹7,008, optimistic ₹8,760 per share (as of Sep 30, 2026, price ₹11,886). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TVSHLTD?
TVS Holdings Limited trades at a price-to-earnings ratio of 12.2 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹7,008 is built from several models across several years. Other multiples: P/B 3.7, P/S 0.9, EV/EBITDA 117.3.
How solid is the balance sheet of TVS Holdings Limited (TVSHLTD)?
Balance-sheet figures for TVS Holdings Limited (as of Sep 30, 2026): return on equity 29.4%, debt of 5.59 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is TVSHLTD from its 52-week high?
TVS Holdings Limited trades at ₹11,886, about 24% below its 52-week high of ₹15,643 and at the low of ₹11,886 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹7,008 is for.
Which stocks are comparable to TVS Holdings Limited?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is TVS Holdings Limited stock attractive at the current price?
The data as of Sep 30, 2026: price ₹11,886, calculated fair value ₹7,008 (−41%), Quality Score 43/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TVSHLTD calculated?
We run TVS Holdings Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹7,008, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. TVS Holdings Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of TVS Holdings Limited (TVSHLTD)?
The closing price on Oct 1, 2026 was ₹11,886. Our model-based fair value is ₹7,008, about −41% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TVS Holdings Limited right now?
The price sits above even our optimistic bull case (₹8,760). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹4,859 to ₹8,760) leaves room in how you read the outcome.
Where does the earnings growth of TVS Holdings Limited (TVSHLTD) come from?
Earnings per share at TVS Holdings Limited grew +17.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +15.0 %, EBIT margin −3.2 %, tax rate −3.1 %, residual (interest, one-offs) +9.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of TVS Holdings Limited

How large is the market capitalisation of TVS Holdings Limited (TVSHLTD)?
The market capitalisation of TVS Holdings Limited is ₹240B (≈ $2.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of TVS Holdings Limited (TVSHLTD)?
The price-to-sales ratio of TVS Holdings Limited is 0.36 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TVS Holdings Limited (TVSHLTD)?
Earnings per share at TVS Holdings Limited are ₹973.74 (price ÷ EPS = P/E 12.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TVS Holdings Limited (TVSHLTD)?
The dividend yield of TVS Holdings Limited is 0.7% (payout 8.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of TVS Holdings Limited (TVSHLTD)?
The net margin of TVS Holdings Limited is 2.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of TVS Holdings Limited (TVSHLTD)?
The return on equity (ROE) of TVS Holdings Limited is 29.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of TVS Holdings Limited (TVSHLTD)?
On an EBIT basis the return on assets of TVS Holdings Limited is 12.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of TVS Holdings Limited (TVSHLTD)?
The operating margin of TVS Holdings Limited is 0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TVS Holdings Limited (TVSHLTD)?
Revenue at TVS Holdings Limited is growing +35.7% versus a year earlier (3y avg +25.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at TVS Holdings Limited (TVSHLTD)?
Earnings per share at TVS Holdings Limited are growing +81.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does TVS Holdings Limited (TVSHLTD) generate?
The free cash flow of TVS Holdings Limited is −₹24.0B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does TVS Holdings Limited (TVSHLTD) carry?
The net debt of TVS Holdings Limited is ₹308B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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