TVS Motors’ earnings have surged almost threefold over the past 36 months, a jump that caught the eye of Elixir Equities’ Dipan Mehta—he’s already on the bid‑list.
The company’s latest announcement to transfer its consumer‑finance business to a newly listed entity, with a mirror shareholding pattern, will hand existing shareholders free shares and a cleaner balance sheet.
Mehta flagged the firm’s electric‑vehicle push as a key differentiator, citing its early‑mover advantage in launching new models and expanding the EV lineup.
In contrast, United Spirits gets a cautionary note; domestic makers like Radico Khaitan and Allied Blenders are deemed better positioned to navigate regulatory headwinds.
The analyst also hinted that the next quarter could test gold‑loan players as multi‑product NBFCs deepen their portfolios, but he sees Manappuram slightly ahead thanks to a recent management shake‑up.