TVS Motor Company (532343) AGM 2024 summary

Opening remarks and agenda

• Meeting convened with 54 shareholders present and requisite quorum established.

• Chairman welcomed attendees, outlined the agenda: statutory requirements, board introductions, Chairman's speech, resolutions, Q&A, and conclusion.

• AGM held via video conferencing, with live webcast and digital access to statutory documents.

Board and executive committee updates

• Introduction of board members, including new independent directors and committee chairs.

• Noted departures and retirements from the board, with appreciation for their contributions.

Financial performance review

• Record sales of 3.85 million units, 18.6% growth; motorcycles up 34.4%, scooters up 16.5%.

• Revenue rose to INR 31,925 crore, profit before tax to INR 2,781 crore, and profit after tax to INR 2,083 crore.

• EBITDA margin improved from 10.1% to 11.1%.

• Interim dividend of INR 8 per share paid; share price increased by 107.8% over the year.