Overview

Detailed Summary

TVS Electronics Limited designs, manufactures and services transaction automation hardware and IT peripherals while providing customer support and infra-managed services; its two primary verticals are the Products & Solutions Group (POS, printers, scanners, keyboards) and Customer Support Services (field support, IMS, repair and e-auction services). The company is headquartered in Chennai with a modern EMS facility in Tumakuru.
Q3-FY26 revenue was INR 1,136 Mn (up 13.6% YoY) and 9M-FY26 revenue reached INR 3,378 Mn, with EBITDA margins improving to 5.72% in Q3 and 3.73% for 9M; however TVS Electronics still reported a negative PAT for 9M-FY26 at INR (16) Mn, reflecting ongoing margin pressure despite operational improvements.
TVS Electronics is a market leader in Touch POS systems and thermal printers and differentiates by bundling hardware with software and end-to-end services; its wide service network (700+ distribution partners, 740+ authorized partners, 345+ walk-in centers) and servicing scale (200k customers monthly across 19,250+ pin codes) supports recurring revenue and aftermarket stickiness.
Strategic investments include automated SMT lines and Industry 4.0 upgrades at Tumakuru, and the company is positioning to offer contract manufacturing for technology partners and scale its AI/ML-enabled CRM platform (TVSE AIKYA) to improve IMS monetization and service efficiency, aligning with Make in India priorities and local value addition.

Sector: IT - Hardware
Industry: Computers - Peripherals / Accessories
Market Cap: 1,159 Cr
Volatility: Moderate Risk
P/E Ratio: 73.6
Industry P/E: 68.0
PEG Ratio: —
P/B Ratio: 11.3
52W High: 740.85
52W Low: 275.30

Sales CAGR

1Y: -32.86%
3Y: 11.82%
5Y: 10.72%
10Y: -3.55%

Profit CAGR

1Y: -41.13%
3Y: —
5Y: —
10Y: —

ROE

TTM: -3.53%
3Y: 2.04%
5Y: 4.67%
10Y: 6.81%

ROCE

TTM: -0.40%
3Y: 4.32%
5Y: 2.79%
10Y: 8.78%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
IVALUE	227.20	1,250 Cr	14.22	2.48	0.00	19.26	22.82	6.51
TVSELECT	388.75	1,159 Cr	73.63	11.31	0.00	-3.53	-0.40	-0.78
ESCONET	121.55	160 Cr	19.89	2.21	0.00	8.80	9.58	3.81
SMARTLINK	116.78	116 Cr	11.52	0.58	0.00	5.20	5.31	3.83
RICHA	58.20	79 Cr	0.30	0.69	0.00	8.01	9.22	7.18
ADTECH	51.80	61 Cr	16.19	1.13	2.01	6.94	9.46	5.81
CEREBRAINT	4.79	58 Cr	-1.11	0.39	0.00	-17.52	-17.24	-20.74

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	92	87	97	111	105	100	115	97	128	114
Expenses	88	86	94	108	102	97	112	95	123	107
Operating Profit	3.85	0.51	2.60	3.16	2.63	3.04	2.64	1.26	4.77	6.53
OPM %	4.18	0.59	2.68	2.84	2.51	3.04	2.30	1.30	3.74	5.75
Other Income	0.52	0.53	1.12	0.68	0.68	0.94	0.30	1.17	1.83	-0.52
Interest	0.50	0.48	0.69	1.28	1.38	1.29	1.41	1.66	1.71	1.54
Depreciation	2.63	2.81	3.12	3.68	3.42	3.80	4.17	4.86	3.74	4.09
Profit Before Tax	1.24	-2.25	-0.09	-1.12	-1.49	-1.11	-2.64	-4.09	1.15	0.38
Tax %	9.68	22.67	733.33	-12.50	11.41	41.44	78.41	13.20	-34.78	-7.89
Net Profit	1.12	-1.74	0.57	-1.26	-1.32	-0.65	-0.57	-3.55	1.55	0.41
EPS in Rs	0.60	-0.93	0.30	-0.68	-0.71	-0.35	-0.31	-1.90	0.83	0.22

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Sales	183	218	237	249	272	596	2,527	4,113	2,761
Expenses	172	207	227	235	254	578	2,511	4,089	2,745
Operating Profit	11	11	9.51	13	18	19	17	25	16
OPM %	5.84	4.90	4.02	5.39	6.55	3.13	0.65	0.60	0.58
Other Income	1.45	3.62	7.66	1.57	0.97	4.84	3.08	5.90	3.79
Interest	6.23	6.59	10	7.43	6.92	5.73	2.81	1.42	0.41
Depreciation	3.96	5.04	6.19	5.66	6.97	8.60	6.06	4.61	3.82
Profit Before Tax	0.84	1.33	-0.51	0.61	3.16	6.68	6.77	23	16
Tax %	-107.43	1.29	-722.99	3.32	27.68	26.55	35.45	35.34	43.43
Net Profit	1.74	1.31	-4.20	0.59	2.28	4.91	4.37	15	8.83
EPS in Rs	—	—	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	16.56	17.48	28.41

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Equity Capital	18	18	18	18	18	19	19	19	19
Reserves	20	21	24	25	27	32	49	64	68
Borrowings	45	66	65	58	50	35	22	3.29	0.00
Other Liabilities	35	46	43	40	55	79	294	950	78
Total Liabilities	117	151	149	141	149	165	384	1,036	165
Fixed Assets	18	50	47	45	41	38	35	31	30
CWIP	0.00	0.76	0.00	0.03	0.00	0.02	0.00	0.11	0.37
Investments	25	8.01	7.90	7.94	7.94	9.00	4.67	1.45	16
Other Assets	74	93	95	88	101	118	344	1,003	118
Total Assets	117	151	149	141	149	165	384	1,036	165

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Cash from Operating Activity	21	3.57	0.71	13	13	28	19	38	-7.39
Cash from Investing Activity	-11	-21	13	-3.85	-3.67	-3.52	-0.59	1.78	-15
Cash from Financing Activity	-22	15	-11	-14	-11	-20	-12	-21	-6.70
Net Cash Flow	-12	-2.03	2.42	-4.90	-1.47	4.19	5.99	19	-29

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.91%	59.77%
FIIs	0.09%	0.01%	0.00%	0.00%	0.25%	0.01%	0.03%	0.00%	0.03%	0.04%	0.03%	0.22%
DIIs	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.03%
Public	39.99%	40.07%	40.08%	40.08%	39.83%	40.07%	40.05%	40.08%	40.05%	40.04%	40.04%	39.98%
Total Shareholders	43,605	44,199	46,665	47,760	48,602	48,792	43,589	42,002	41,652	39,680	39,703	41,890

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Q3 FY26

Investor Presentation

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Q1 FY26

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