Stock Tips India: Hold TVS Motor For Tomorrow

Q3 Operating EBITDA at Rs 107 crores, in line with our estimates of Rs 109 crores, which represented a 17% yoy fall (5.7% qoq jump). The Op EBITDA margin has fallen below 6% for the first time in 18 quarters, due to higher Other expenditure. Q3 PAT at Rs 52.5 crores, in line with our estimate of Rs 52 crores, representing a 7.2% yoy fall (16% qoq jump). Effective tax rate held at under 22%,...