Author: Prashant Marathe
Date Published: May 21, 2025
🧾 At a Glance
- Total Income (Q4): ₹114.86 Cr
- Net Loss (Q4): ₹0.57 Cr
- EPS (Q4): -₹0.31
- CMP: ₹393
- EduFair Value: ₹90–₹120
👉 Verdict: Printers may be needed in banks. This stock? Not so much.
🖨️ About the Company
TVS Electronics Ltd was once the go-to name for:
- Dot-matrix printers
- POS machines
- Keyboards and peripherals
But this isn’t 2005 anymore.
They’ve tried to evolve with:
- 📟 Barcode scanners
- 🧾 Billing terminals
- 🧑💼 After-sales services
…but growth remains a headline, not a reality.
📊 FY25 Overview
| Quarter | Revenue (₹ Cr) | PAT (₹ Cr) | EPS (₹) |
|---|---|---|---|
| Q1 | 112.00 | -1.26 | -0.68 |
| Q2 | 105.29 | -1.32 | -0.71 |
| Q3 | 100.94 | -0.65 | -0.35 |
| Q4 | 114.86 | -0.57 | -0.31 |
That’s four straight quarters of losses.
Full-year EPS = -₹2.05
And it’s still priced at nearly ₹400?
🧠 EduInvesting Take
“TVS Electronics is the kid who peaked in school. It’s been all downhill since.”
✅ Old brand
❌ Loss-making
❌ Zero moat
❌ No growth visibility
❌ No clear turnaround
Even the company’s website looks like it hasn’t been updated since Tally ERP 7.
🧮 EduFair Value Estimate
- FY25 EPS = -₹2.05
- Loss-making = No rational P/E
✅ Assign turn-around hope P/E of 40x on expected ₹2 EPS in FY26
➡ Best-case FV = ₹90–₹120
CMP = ₹393 → 🚨 Grossly overvalued
Unless a major pivot or acquisition is announced, this is dead money.
⚠️ Risks
- 📉 Business model stuck in the past
- 📟 Products being phased out in favor of cloud + app-based systems
- 🕳️ EPS erosion = valuation compression
- 💣 Continuous losses = red flags
💸 CMP vs Value
| Metric | Value |
|---|---|
| CMP | ₹393 |
| Fair Value | ₹90–₹120 |
| FY25 EPS | -₹2.05 |
| Risk Level | Very High |
🏁 EduFinal Word
TVS Electronics is:
- A legacy brand ✅
- In a sunset industry ❌
- With no reinvention plan ❌
Edu Verdict:
Stay away unless you enjoy watching money vanish slowly in red.
