TVS Supply Chain Solutions (TVSSCS) Q1 23/24 earnings summary

Executive summary

• TVS Supply Chain Solutions reported consolidated revenue of Rs 2,342.43 crore for Q1 FY24, down from Rs 2,675.49 crore in Q1 FY23.

• Net loss for the quarter was Rs 65.26 crore, compared to a net loss of Rs 1.80 crore in the same quarter last year.

• The company completed its IPO in August 2023, raising Rs 880 crore through a fresh issue and offer for sale.

• Financials for Q1 FY24 are presented for the first time post-listing and have been reviewed by statutory auditors.

• The group includes multiple subsidiaries and one joint venture, with results consolidated accordingly.

Financial highlights

• Revenue from operations declined 12.5% year-over-year to Rs 2,342.43 crore.

• Net loss widened to Rs 65.26 crore from Rs 1.80 crore year-over-year.

• EBITDA (segment results plus other income, less depreciation, finance cost, and other adjustments) was negative, with a loss before tax of Rs 47.94 crore.

• Basic and diluted EPS for the quarter were both negative at (1.69), compared to (0.31) in Q1 FY23.

• Exceptional items of Rs 23.17 crore related to fair value changes on CCPS conversion were expensed in Q1 FY24.

Outlook and guidance

• No explicit forward-looking guidance provided in the report.

• Management notes the IPO proceeds and listing position the company for future growth and compliance.