Is TVS Motor Headed towards LML?

Some years back, LML shut its plants and became bankrupt. Looking at the financial results of TVS motor, it looks like it is also headed towards a similar fate. The company's fundamentals are quickly deteriorating. Company had a pretty good result in 2003 and the stock price touched a lifetime high of 113.69 (actually 1136.9 but it had announced a split 10:1). Then again in March 2006, a lot of hope took the stock to a lifetime high of 186.7. Today it is at INR 25. The book value of the stock is 34 but it has a debt of around INR 635 Cr which balances all the net worth. The lifetime low is INR 6.5. Let's see if it breaks it.