TVSHLTD · NSE · Investment Company
TVS Holdings Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Consumer Cyclical
fair
low confidence
No valuation within 120 days; P/E 11.8 vs peers 47.6 (2nd of 11); P/B 16.1 vs peers 1.1 (11th of 12).
Statements through FY2026Prices adjusted for 2 corporate actionsNot yet reviewed by the adversarial model
What is TVS Holdings's share price today?
TVS Holdings last traded at ₹11,621.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 14.8% over a year. Its 52-week range is ₹11,422 to ₹16,297. The live price is in the app.
₹11,621.00
+1.6% today
−14.8% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Jul 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range4% of the way up
Low ₹11,422High ₹16,297
What is TVS Holdings's market cap?
TVS Holdings's market capitalisation is about ₹23,148 crore: what it would cost to buy every share at today's price. That makes it the 85th largest small cap company we cover.
₹23,148 Cr
Small Cap85th largest small cap company
Share price₹11,621
×
Shares in issue2.0 crore
=
Market cap₹23,148 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: TVSHLTD
- ISIN
- INE105A01035
- Cap bucket
- Small Cap, 85th largest by market cap
- Industry (NSE)
- Financial Services › Finance › Investment Company
- Listed since
- 2012
- Futures and options
- Not traded
Is TVS Holdings overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 11.8 vs peers 47.6 (2nd of 11); P/B 16.1 vs peers 1.1 (11th of 12).
Valuation
Latest price and trailing 12 months
P/E
11.75
vs peers 47.6 · 2nd of 11
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
16.11
vs peers 1.1 · 11th of 12
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹23,148 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
0.6%
vs peers 0.5% · 4th of 7
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
0.03
vs peers 5.3 · 1st of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
0.25
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is TVS Holdings a quality business?
Quality score 84.8, 1st of 12 in its peer set; CLEAN on 15 of 22 lender flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
84.8
vs peers 44.7 · 1st of 12
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
CLEAN
15 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Lender scorecard
Statements through FY2026 (Mar-26)
Basis: consolidated accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is revenue from operations less finance costs over average advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over average advances (the loan book from the Q4 filing); ROA over average total assets; ROE over average equity
Net interest margin
158.7%
vs peers 1.2% · 1st of 12
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA
Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA
Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage
Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost
0.0%
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income
27.9%
vs peers 36.2% · 5th of 12
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets
5.8%
vs peers 1.1% · 2nd of 12
Profit as a share of average total assets. Learn more →
CET1 ratio
Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY
15.4%
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY
Not available
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio
Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app
Get a sneak peek of Valarth
Has TVS Holdings made money for shareholders?
Not over these periods: −14.8% over one year.
Shareholder returns
5-year return
Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
−3.1%1M
−8.4%3M
−19.5%6M
−19.0%1Y
−14.8%3Y
+30.8%5Y
—— not available
Does TVS Holdings pay a dividend?
Yes. TVS Holdings's dividend yield is 0.62% at the latest price; the last payout was ₹1.83 a share, ex-dividend 2 Apr 2026.
Dividends
Per share, by ex-dividend date
Dividend yield0.62%
The past 12 months' dividends as a share of today's price.
2 Apr 2026 · Interim₹1.83
28 Mar 2025 · Interim₹1.98
2 Apr 2024 · Interim₹2.00
3 Feb 2023 · Interim₹1.04
29 Mar 2022 · Interim₹0.77
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is TVS Holdings growing?
Loan growth 15.4%; revenue 3 years 19.9% a year; eps 3 years 46.7% a year. History break: demerger 2023-08-24 in the 5-year growth figures.
Growth
Statements through FY2026 (Mar-26)
Loan growth
15.4%
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth
Not available
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years
19.9% a year
vs peers 12.9% · 4th of 12
Compound annual growth of revenue over three years. Learn more →
EPS 3 years
46.7% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years
19.5% a year
Compound annual growth of revenue over five years. Learn more →
↯
History break: Demerger 2023-08-24 in the 5-year growth figures.
EPS 5 years
44.7% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
↯
History break: Demerger 2023-08-24 in the 5-year growth figures.
How did TVS Holdings do last quarter?
TVS Holdings reported income of ₹17,083 Cr, up 29.2% on a year earlier and a net profit of ₹1,174 Cr, up 40.7% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Income, latest quarter₹17,083 Cr
+29.2% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹1,174 Cr
+40.7% on a year earlier
What was left for shareholders after every cost and tax.
How does TVS Holdings compare with its peers?
Compared with 11 Investment Company; 2nd of 11 on P/E; 1st of 12 on quality score.
Compared with 11 Investment Company
11 companies
- TVS Holdings Ltd (this page)
- Jio Financial Services Ltd
- Aditya Birla Capital Ltd
- L&T Finance Ltd
- Tata Investment Corporation Ltd
- Cholamandalam Financial Holdings Ltd
- Maharashtra Scooters Ltd
- JSW Holdings Ltd
- Tsf Investments Ltd
- Religare Enterprises Ltd
- Pilani Investment & Industries Corporation Ltd
- Nalwa Sons Investments Ltd
TVS Holdings against its peers
Largest 10 of 11 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
TVS Holdings Ltd₹23,148 Cr11.816.119.1%−14.8%
Jio Financial Services Ltd₹1.4 L Cr66.75.62.5%−30.4%
Maharashtra Scooters Ltd₹13,891 Cr49.90.51.1%−29.9%
JSW Holdings Ltd₹12,594 Cr91.70.40.4%−32.6%
Tsf Investments Ltd₹8,971 Cr18.41.13.8%−40.8%
Religare Enterprises Ltd₹7,502 Cr146.03.2—−16.3%
Pilani Investment & Industries Corporation Ltd₹4,360 Cr—0.30.5%−25.5%
Peer median—47.61.11.8%−29.9%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns TVS Holdings?
TVS Holdings is held by promoters 74.5%, foreign institutions 3.2%, domestic institutions 9.8%.
Shareholding pattern
Latest filing, percent of shares
Promoters74.5%
The founders and controlling group.
Foreign institutions3.2%
Overseas funds investing through the FPI route.
Domestic institutions9.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds7.5%
Indian mutual fund schemes; part of domestic institutions.
Retail and others8.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What does TVS Holdings do and what is it sensitive to?
TVS Holdings Limited is registered with the RBI as a Core Investment Company (NBFC-CIC) that makes long-term strategic investments in group companies, and it reports investment income, dividends from a subsidiary, and services revenue. Sensitive to: interest rates.
Business-model card
FY2025 · 40 verified
6Revenue
3Channels
2Regulators
4Reg. dependencies
5Sensitivities
4Costs
2Geographies
TVS Holdings Limited is registered with the RBI as a Core Investment Company (NBFC-CIC) that makes long-term strategic investments in group companies, and it reports investment income, dividends from a subsidiary, and services revenue. Its standalone turnover is stated as 83% investments in group entities and 17% sale of spares, which it says it wound up effective 10 October 2024, and its only stated customers are group companies.
Revenue by segment
2026-03-31
a) Automotive Vehicles & Parts83.7%
b) Financial Services16.3%
Revenue engine
6 verified
Investments in group entities (standalone, 83% of turnover) (83.0%)
Income from long-term strategic investments in group companies and other RBI-permissible investments; the excerpt lists this as the main activity, and Interpretation: dividends, gains and fair-value changes on those holdings are the income lines it reports.
Dividend income from subsidiary
Dividends received from a subsidiary, reported as a separate income line in the FY2025 notes; Interpretation: this income depends on the subsidiary's own distribution decisions.
Sale of services to group companies
Revenue from strategic, operational, administrative and support services rendered to group companies, plus granting rights to use intellectual property; recognised over time where services are provided continuously.
3 more statements
Sale of spares (trading business, 17% of standalone turnover, wound up)
Trading in automotive spare parts; the excerpt says the business was wound up in line with the RBI CIC registration condition effective 10 October 2024, so Interpretation: this line is run-off and should not be treated as ongoing.
Group consolidated segment: Automotive vehicles and parts (83.7% of revenue, via TVS Motor group)
Interpretation: the consolidated group's largest segment, which the standalone company reaches through its equity holding in TVS Motor Company Ltd; the excerpt names the segment but does not state this company's own revenue from it.
Subsidiary TVS Credit Services Ltd: financial services (consolidated segment, 16.3% of revenue)
Financial services through a step-down subsidiary classified as a middle-layer NBFC; the excerpt does not state its revenue, so the share is the segment hint only.
Customers & channels
3 verified
Group companies as the only customer group
The company invests only in securities of group companies and can lend or provide security only to them; it has no customer interface.
Dealers and distributors (spares sales, FY2024-25) (100.0%)
Interpretation: the sales-concentration table reports 100% of sales to dealers/distributors and 10 such dealers, which applies to the wound-down spares business; it is not a current customer base.
Related parties as purchasers of services (100.0%)
The company's services revenue flows to group companies; the RPT table shows 100% of services sold to related parties.
Regulators
2 verified
Reserve Bank of India (RBI)
Registers and regulates the company as an NBFC-CIC and sets its permitted investment and lending scope and its scale-based layer classification.
RBI scale-based regulation for middle-layer NBFCs
Governs the company's compliance obligations as a middle-layer NBFC-CIC; the excerpt lists the Directions under which it reports compliance.
Regulatory dependencies
4 verified
CIC middle-layer classification under RBI scale-based regulation
The classification sets the company's oversight level; Interpretation: a change to the layer criteria would change compliance cost and the disclosure burden rather than revenue directly.
CIC lending and security restricted to group companies
Because the company may lend or give security only to group companies, its lending capacity is bounded by group needs; a change to this restriction would widen or narrow the activities it could fund.
RBI risk-weight rules on NBFC exposure
Interpretation: higher bank risk weights on NBFC lending raise funding cost and slow credit to subsidiaries such as TVS Credit Services; the reversal of the 25% increase would ease that funding constraint.
1 more statement
RBI risk weights on personal loans (industry)
Risk-weight increases made lenders slow disbursements, which would reduce NBFC lending volumes and the interest income of a financial subsidiary.
Sensitivities
5 verified
Interest rates
A 100 bps rise in interest rates reduces consolidated profit after tax (sensitivity table); a fall raises it by the same measure. Interpretation: the sensitivity is driven by variable-rate borrowings in the group.
INR/USD exchange rate
A 10% rise in INR/USD shifts profit after tax and other equity by the amounts in the table; the excerpt reports both directions symmetrically.
Equity price risk on investments
Changes in the value of equity holdings affect fair-value gains; the excerpt states the group's impact is not material after diversification.
2 more statements
Monsoon and commodity prices for two-wheeler demand
Interpretation: the GDP forecast assumes a normal monsoon and stable commodity prices; a poor monsoon or commodity spike would lower two-wheeler demand and the value of the TVS Motor holding.
Dealer inventory and financing for two-wheelers
Interpretation: when dealers hold high inventory and financing tightens, two-wheeler sales slow, which lowers the earnings of the TVS Motor investment.
Cost inputs
4 verified
Cost of materials consumed (nil in FY2025)
Raw materials and components were transferred to a resulting entity on demerger; the standalone company reports no material cost in FY2025 after the demerger.
Interest on debt securities
Finance cost on borrowings from debt securities, which rose in FY2025; Interpretation: the cost rises with the amount and rate of debt raised.
Accounts payable days
Payables fell to 9 days in FY2024-25 from 39 days in FY2023-24, so the company paid suppliers faster.
1 more statement
No manufacturing cost base
The company does not run manufacturing, so it carries no plant-level input cost.
Geographies
2 verified
Standalone exports (0.0%)
The company's own exports are nil; its turnover is domestic.
TVS Motor international markets (group investee, not this company)
The excerpt attributes the 90+ country presence to TVSM, so it is a holding investee's footprint, not the company's own market.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Scheme Of Arrangement - Bonus Ncrps 46:1; price history adjusted (8 Sep 2026).
Change log
8 entries · newest first
- Corporate actionScheme Of Arrangement - Bonus Ncrps 46:1; price history adjusted.
- Results filedQ1 FY2027 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ4 FY2026 results filed.
- Corporate actionInterim Dividend - Rs 86 Per Share.
- Results filedQ3 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsCLEAN on 15 of 22 lender flags judged; no red flag; 7 could not be judged.
- History breakDemerger 2023-08-24 in the 5-year growth figures: those figures span the accounts before and after it.
- Data gapsBusiness quality, Gross NPA, Net NPA, Provision coverage, CET1 ratio, Deposit growth YoY and 4 more: not available yet.
Not applicable to a bank, lender or insurer · 12
- Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
- Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
- Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
- Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
- Interest coverageInterest is a lender's main cost, not a charge on operating profit.
- Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
- EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
- FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
- Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
- Asset turnoverA lender earns a spread on its assets, not a turnover of them.
- ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
- ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓162 months of month-end prices, adjusted for bonuses and splits (2 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 40 verified
Questions people ask
What is TVS Holdings's share price today?
TVS Holdings last traded at ₹11,621.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 14.8% over a year. Its 52-week range is ₹11,422 to ₹16,297. The live price is in the app.
What is TVS Holdings's market cap?
TVS Holdings's market capitalisation is about ₹23,148 crore: what it would cost to buy every share at today's price. That makes it the 85th largest small cap company we cover.
Is TVS Holdings Ltd a large cap, mid cap or small cap?
TVS Holdings Ltd (TVSHLTD) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is TVS Holdings Ltd's P/E ratio?
11.75, vs peers 47.6 · 2nd of 11. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is TVS Holdings Ltd overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 11.8 vs peers 47.6 (2nd of 11); P/B 16.1 vs peers 1.1 (11th of 12).
How does TVS Holdings Ltd make money?
TVS Holdings Limited is registered with the RBI as a Core Investment Company (NBFC-CIC) that makes long-term strategic investments in group companies, and it reports investment income, dividends from a subsidiary, and services revenue. Its standalone turnover is stated as 83% investments in group entities and 17% sale of spares, which it says it wound up effective 10 October 2024, and its only stated customers are group companies.
Why is there no Altman Z or debt to equity for TVS Holdings?
Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.
Who are TVS Holdings Ltd's peers?
Compared with 11 Investment Company: Jio Financial Services Ltd, Aditya Birla Capital Ltd, L&T Finance Ltd, Tata Investment Corporation Ltd, Cholamandalam Financial Holdings Ltd and 6 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did TVS Holdings do last quarter?
TVS Holdings reported income of ₹17,083 Cr, up 29.2% on a year earlier and a net profit of ₹1,174 Cr, up 40.7% in the Jun 2026 quarter.
Who owns TVS Holdings?
TVS Holdings is held by promoters 74.5%, foreign institutions 3.2%, domestic institutions 9.8%.
Does TVS Holdings pay a dividend?
Yes. TVS Holdings's dividend yield is 0.62% at the latest price; the last payout was ₹1.83 a share, ex-dividend 2 Apr 2026.