As normalcy returns, market share gains to continue for TVS Motor in FY22

Improving product mix and rising exports to aid margins

New launches, market share gains over the last year and robust exports bode well for TVS Motor. Analysts also expect the company to post improvement in margins due to higher volumes, cost controls and improving product mix.

The company has been gaining market share in FY21 with the trend continuing in February. Even as overall two-wheeler sales were up by 8 per cent y-o-y, TVS posted a 21 per cent rise in sales with volumes in the domestic market growing by 15 per cent. The two segments, which have helped it recoup its 100 basis point market share it lost