TVS Motor Company Ltd.

BSE: TVSMOTOR532343ISIN INE494B01023

Consumer Discretionary
2/3 Wheelers
BSE 100

BSE listing

Share price

₹4,161.00+50.70 (+1.23%)

as of 18 Sep 2026

52W high: ₹4,484.70
52W low: ₹3,228.00
Off 52W high: -7.22%
1M return: -4.61%
3M return: +20.87%
6M return: +20.18%
1Y return: +17.32%
20D avg volume: 61,177
50 DMA: ₹4,137.06
200 DMA: ₹3,737.58

Key ratios Consolidated

Market cap: ₹1,97,684 Cr
Current price: ₹4,161.00
52W high / low: ₹4,484.70 / ₹3,228.00
Face value: ₹1.00
P/E: 54.89
P/B: —
EPS (TTM): ₹75.80
Book value / share: —
ROE: —
ROCE: 29.00%
Operating margin: —
Net margin: —
Debt / equity: 2.95
Net debt: ₹27,697 Cr
Interest cover: 3.18
Dividend yield: 0.29%
Dividend / share (TTM): ₹12.00
Payout: 15.83%
Cash conversion cycle: -30.7 days

About

In plain English

TVS Motor Company Ltd is an Indian company that makes two-wheelers and three-wheelers, like motorcycles, scooters, and auto rickshaws. These vehicles are used for personal transport, delivery services, and public transport. The company sells to individual customers, fleet operators, and export markets. It earns revenue by manufacturing and selling these vehicles along with spare parts and services.

AI-generated summary, written from the company's own filings and disclosures. Every figure elsewhere on this page comes from exchange data, not from a model. See our editorial standards. Generated 21 Jul 2026.

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	16,296	15,053	14,756	14,051	12,210	11,542	11,135	11,302	10,407	10,042	10,114	9,933
	158.20	6.65	10.30	14.00	39.66	68.16	65.11	32.31	40.77	43.53	11.88	50.93
	14,894	13,746	13,369	12,802	11,262	10,465	10,273	10,428	9,691	9,339	9,363	9,297
	10,270	9,098	8,404	8,706	7,062	6,933	6,456	6,603	6,087	6,099	5,782	6,336
	285.24	421.08	258.09	226.69	324.80	343.99	117.82	92.78	280.30	176.46	227.38	148.01
	1,324	1,151	1,103	1,085	1,052	858.10	912.77	941.72	943.46	875.20	855.91	833.33
	602.17	565.82	561.05	552.39	550.56	550.80	539.02	509.04	502.62	512.96	494.44	483.27
	354.00	314.54	322.85	320.42	314.83	291.80	263.92	259.29	246.50	268.71	242.42	237.13
	2,154	2,189	2,251	2,117	1,848	1,792	1,842	1,843	1,725	1,537	1,507	1,435
	1,560	1,313	1,376	1,236	988.11	1,009	927.12	906.35	756.56	659.77	762.99	686.41
	0.00	0.00	-50.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	1,560	1,313	1,326	1,236	988.11	1,009	927.12	906.35	756.56	659.77	762.99	686.41
	487.58	478.58	431.87	390.53	334.33	306.18	296.57	299.39	253.71	238.86	240.62	259.84
	1,058	819.55	891.26	832.76	642.86	697.51	609.35	588.13	484.82	411.53	509.61	415.93
	21.46	16.24	17.71	16.74	12.84	13.64	11.91	11.80	9.70	8.15	10.08	8.13
Key metrics
	2,516	2,194	2,210	2,108	1,854	1,852	1,730	1,675	1,506	1,441	1,500	1,407
	15.40%	14.60%	15.00%	15.00%	15.20%	16.00%	15.50%	14.80%	14.50%	14.40%	14.80%	14.20%
	6.50%	5.40%	6.00%	5.90%	5.30%	6.00%	5.50%	5.20%	4.70%	4.10%	5.00%	4.20%
	—	7.70%	—	7.10%	—	6.30%	—	—	—	—	—	—
	33.50%	30.40%	32.50%	24.30%	17.30%	14.90%	10.10%	13.80%	—	—	—	—
	64.50%	17.50%	46.30%	41.60%	32.60%	69.50%	19.60%	41.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	60,155	56,070	44,089	39,145	31,974	24,355	19,421	18,849	20,160	16,656	13,574
	189.15	22.01	69.56	105.82	138.00	32.87	47.22	51.83	25.44	145.36	165.44
	54,811	51,179	40,579	36,504	30,133	23,284	18,629	17,987	19,104	15,871	13,082
	36,478	33,270	25,968	23,718	20,093	15,939	12,701	12,051	13,788	11,003	8,693
	1,191	1,231	834.62	1,012	890.95	579.04	224.92	259.20	244.84	254.56	292.70
	4,664	4,392	3,581	3,385	2,890	2,124	1,689	1,539	1,432	1,150	828.05
	2,281	2,230	2,093	1,928	1,368	940.22	881.49	854.54	663.40	338.22	59.62
	1,312	1,273	1,046	975.12	858.86	742.86	564.82	556.00	441.71	—	—
	8,711	8,405	7,136	5,811	—	3,219	2,568	2,720	2,613	2,356	1,829
	5,484	4,913	3,579	2,746	1,979	1,104	838.74	914.34	1,081	930.24	657.76
	-50.08	-50.08	0.00	0.00	-1.87	-40.12	-9.36	-40.33	0.00	0.00	0.00
	5,434	4,863	3,579	2,746	1,977	1,064	829.38	874.01	1,081	930.24	657.76
	1,789	1,635	1,155	924.38	626.57	335.91	214.13	218.62	357.45	266.03	148.67
	3,601	3,186	2,380	1,779	1,309	730.88	607.50	646.80	725.40	664.78	509.09
	72.15	63.53	47.05	35.50	27.97	15.93	12.51	13.15	14.83	—	—
Key metrics
	9,027	8,365	6,718	5,649	4,204	2,747	2,276	2,285	2,186	1,268	717.38
	15.01%	14.90%	15.20%	14.40%	13.10%	11.30%	11.70%	12.10%	10.80%	7.60%	5.30%
	5.99%	5.70%	5.40%	4.50%	4.10%	3.00%	3.10%	3.40%	3.60%	4.00%	3.80%
	—	29.00%	22.90%	—	—	—	—	—	—	—	—
	—	27.20%	12.60%	22.40%	31.30%	25.40%	3.00%	-6.50%	21.00%	22.70%	—
	—	33.90%	33.80%	35.80%	79.20%	20.30%	-6.10%	-10.80%	9.10%	30.60%	—
	—	-1,368	1,025	—	—	—	—	—	—	—	—
	—	0.59	1.47	—	—	—	—	—	—	—	—
	—	2.95	2.92	—	—	—	—	—	—	—	—
	—	27,697	23,501	—	—	—	—	—	—	—	—
	—	-30.7	-28.4	—	—	—	—	—	—	—	—
Balance sheet
	—	56,501	47,937	—	—	—	—	—	—	—	—
	—	31,002	25,984	—	—	—	—	—	—	—	—
	—	3,926	4,115	—	—	—	—	—	—	—	—
	—	2,654	1,717	—	—	—	—	—	—	—	—
	—	2,459	2,417	—	—	—	—	—	—	—	—
	—	2,372	1,530	—	—	—	—	—	—	—	—
	—	6,050	5,489	—	—	—	—	—	—	—	—
	—	9,834	7,561	—	—	—	—	—	—	—	—
	—	32,068	23,174	—	—	—	—	—	—	—	—
	—	31,624	27,616	—	—	—	—	—	—	—	—
	—	19,138	13,683	—	—	—	—	—	—	—	—
	—	12,486	13,933	—	—	—	—	—	—	—	—
	—	10,713	9,442	—	—	—	—	—	—	—	—
Cash flow
	—	1,867	3,503	—	—	—	—	—	—	—	—
	—	-2,964	-2,899	—	—	—	—	—	—	—	—
	—	909.33	1,155	—	—	—	—	—	—	—	—
	—	3,235	2,478	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	13,896	12,808	12,476	11,905	10,081	9,550	9,097	9,228	8,376	8,169	8,245	8,145
	150.84	-16.23	28.01	-21.33	34.29	14.50	22.69	29.91	36.29	28.67	73.40	46.24
	12,457	11,433	11,134	10,658	9,062	8,453	8,238	8,361	7,629	7,469	7,543	7,467
	10,105	8,926	8,291	8,627	6,943	6,791	6,343	6,468	5,941	5,969	5,696	6,199
	148.95	135.17	113.10	120.74	118.97	98.13	110.71	105.36	92.53	91.98	109.50	90.13
	678.43	644.64	618.93	604.69	580.76	495.94	498.81	496.74	478.77	420.54	403.55	392.92
	75.50	59.10	57.91	46.57	40.30	35.78	33.75	31.91	37.22	37.21	44.75	52.27
	265.29	245.76	233.52	214.42	203.94	199.37	188.33	180.57	176.33	188.67	178.06	170.07
	1,327	1,336	1,340	1,332	1,062	1,055	1,006	1,050	956.26	878.17	841.39	824.37
	1,589	1,358	1,315	1,226	1,053	1,112	836.68	897.22	782.91	671.63	775.02	723.65
	0.00	0.00	-41.37	0.00	0.00	0.00	—	—	—	—	—	—
	1,589	1,358	1,273	1,226	1,053	1,112	836.68	897.22	782.91	671.63	775.02	723.65
	415.48	360.70	332.91	320.21	274.48	259.86	218.20	234.60	205.59	186.20	181.67	187.10
	1,174	997.70	940.37	906.09	778.59	852.12	618.48	662.62	577.32	485.43	593.35	536.55
	24.71	21.00	19.79	19.07	16.39	17.94	13.02	13.95	12.15	10.22	12.49	11.29
Key metrics
	1,930	1,663	1,565	1,487	1,297	1,347	1,059	1,110	996.46	897.51	997.83	945.99
	13.90%	13.00%	12.50%	12.50%	12.90%	14.10%	11.60%	12.00%	11.90%	11.00%	12.10%	11.60%
	8.40%	7.80%	7.50%	7.60%	7.70%	8.90%	6.80%	7.20%	6.90%	5.90%	7.20%	6.60%
	—	11.00%	—	11.50%	—	10.00%	—	—	—	—	—	—
	37.80%	34.10%	37.10%	29.00%	20.40%	16.90%	10.30%	13.30%	—	—	—	—
	50.80%	17.10%	52.00%	36.70%	34.90%	75.50%	4.20%	23.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	51,085	47,270	36,251	31,776	26,378	20,791	16,751	16,423	18,210	15,473	13,190
	141.29	29.97	58.01	148.53	100.57	18.99	32.97	32.10	7.54	144.78	173.37
	45,682	42,295	32,681	29,144	24,475	19,566	15,957	15,669	17,256	14,739	12,665
	35,949	32,787	25,542	23,244	19,610	15,547	12,507	11,855	13,673	10,910	8,621
	517.96	487.98	406.73	389.37	378.00	286.05	224.21	259.20	244.84	254.41	291.22
	2,547	2,452	1,970	1,596	1,345	1,136	948.47	938.41	922.63	868.01	745.64
	239.08	203.88	138.66	181.63	140.66	125.92	141.60	102.19	80.56	56.62	43.95
	958.99	900.61	744.60	700.35	631.23	611.44	493.68	489.03	399.27	338.73	—
	5,335	5,072	4,066	3,237	2,365	1,884	1,650	2,003	2,012	1,999	1,679
	5,489	4,945	3,629	2,781	2,003	1,243	826.24	786.74	960.96	878.64	698.68
	-41.37	-41.37	0.00	—	—	-30.16	—	-32.33	—	—	—
	5,447	4,904	3,629	2,781	2,003	1,213	826.24	754.41	960.96	878.64	698.68
	1,429	1,288	918.25	697.66	512.34	319.65	214.20	162.16	290.82	216.05	140.60
	4,018	3,615	2,711	2,083	1,491	893.56	612.04	592.25	670.14	662.59	558.08
	84.57	76.09	57.05	43.84	31.38	18.81	12.88	12.47	14.11	—	—
Key metrics
	6,646	6,008	4,512	3,663	2,775	1,951	1,462	1,346	1,441	1,274	742.63
	13.01%	12.70%	12.40%	11.50%	10.50%	9.40%	8.70%	8.20%	7.90%	8.20%	5.60%
	7.87%	7.60%	7.50%	6.60%	5.70%	4.30%	3.70%	3.60%	3.70%	4.30%	4.20%
	—	39.50%	32.70%	—	—	—	—	—	—	—	—
	—	30.40%	14.10%	20.50%	26.90%	24.10%	2.00%	-9.80%	17.70%	17.30%	—
	—	33.40%	30.10%	39.70%	66.90%	46.00%	3.30%	-11.60%	1.10%	18.70%	—
	—	3,717	2,467	—	—	—	—	—	—	—	—
	—	1.59	1.57	—	—	—	—	—	—	—	—
	—	0.28	0.17	—	—	—	—	—	—	—	—
	—	2,733	1,441	—	—	—	—	—	—	—	—
	—	-35.5	-31.7	—	—	—	—	—	—	—	—
Balance sheet
	—	25,916	19,963	—	—	—	—	—	—	—	—
	—	7,052	5,082	—	—	—	—	—	—	—	—
	—	400.83	293.56	—	—	—	—	—	—	—	—
	—	2,086	1,280	—	—	—	—	—	—	—	—
	—	1,580	1,726	—	—	—	—	—	—	—	—
	—	1,919	1,187	—	—	—	—	—	—	—	—
	—	4,849	3,880	—	—	—	—	—	—	—	—
	—	8,265	6,154	—	—	—	—	—	—	—	—
	—	12,976	8,449	—	—	—	—	—	—	—	—
	—	3,134	1,735	—	—	—	—	—	—	—	—
	—	2,522	900.43	—	—	—	—	—	—	—	—
	—	611.83	834.51	—	—	—	—	—	—	—	—
	—	11,234	9,937	—	—	—	—	—	—	—	—
Cash flow
	—	5,730	4,266	—	—	—	—	—	—	—	—
	—	-4,310	-3,871	—	—	—	—	—	—	—	—
	—	-1,344	-587.12	—	—	—	—	—	—	—	—
	—	2,013	1,798	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +21.46%
Sales CAGR 5Y: +23.06%
Sales CAGR 10Y: —
Profit CAGR 3Y: +34.34%
Profit CAGR 5Y: +42.65%
Profit CAGR 10Y: —
Sales YoY (TTM): +34.59%
Profit YoY (TTM): +37.99%

Consolidated

Sales CAGR 3Y: +20.59%
Sales CAGR 5Y: +23.62%
Sales CAGR 10Y: —
Profit CAGR 3Y: +34.50%
Profit CAGR 5Y: +39.30%
Profit CAGR 10Y: —
Sales YoY (TTM): +30.24%
Profit YoY (TTM): +41.90%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 50.27%

Holder	Type	Holding	Previous	Change
TVS HOLDINGS LIMITED (Formerly known as Sundaram Clayton Limited)	Promoter	50.26%	—	—
ICICI Mutual Fund	Public	6.81%	—	—
NPS Trust	Public	1.66%	—	—
Axis Mutual Fund	Public	1.43%	—	—
Government of Singapore	Public	1.01%	—	—
MALLIKA SRINIVASAN	Promoter Group	0.01%	—	—
STPL Trading and Services Private Limited (Formerly known as Srinivasan Trading Private Limited)	Promoter Group	0.00%	—	—
VS Trust (Mr Venu Srinivasan, Trustee)	Promoter Group	0.00%	—	—
VEE ESS Trading Private Limited	Promoter Group	0.00%	—	—
VENU SRINIVASAN	Promoter Group	0.00%	—	—
LAKSHMI VENU	Promoter Group	0.00%	—	—
Srinivasan Trust (VS Trustee Private Limited, Trustee)	Promoter Group	0.00%	—	—
CHEEMA VENU TRUST (formely known as VEE ESS Trust) (Venu Srinivasan Trustee Private Limited, Trustee)	Promoter Group	0.00%	—	—
Srinivasan Venu Trust (Mr Venu Srinivasan, Trustee)	Promoter Group	0.00%	—	—
Association of Persons	Public	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

TVS Motor Company Raises the Bar this Festive Season with Enhancements to its Premium Motorcycle Portfolio17 Sep 2026 · Company Update / Press Release / Media Release
TVS MOTOR COMPANY BRINGS THE NEXT GENERATION OF APACHE PERFORMANCE TO SRI LANKA WITH THE WHOLE RANGE11 Sep 2026 · Company Update / Press Release / Media Release
TVS MOTOR COMPANY BRINGS FLAGSHIP ADVENTURE TECHNOLOGY TO THE A2 CLASS WITH RTX 3007 Sep 2026 · Company Update / Press Release / Media Release
Compliance under Regulation 30 of SEBI (LODR) Regulations, 20154 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation regarding redemption of Cumulative Non Convertible Redeemable Preference Shares (NCRPS)1 Sep 2026 · Company Update / General
Sales update for the month of August 20261 Sep 2026 · Company Update / Monthly Business Updates
TVS Motor Company appoints Peyman Kargar as Director and Chief Executive Officer28 Aug 2026 · Company Update / Press Release / Media Release
Mr K N Radhakrishnan (DIN : 02599393) will continue as a Director & CEO until 27th January 2027, and subsequently will serve as a Non - Executive Director upto the date of the ensuing AGM ....28 Aug 2026 · Company Update / Change in Directorate
Appointment of Mr Peyman Kargar (DIN: 07906077) as Director & Chief Executive Officer w.e.f 27th January 202728 Aug 2026 · Company Update / Change in Management
TVS Motor Launches TVS Jupiter Dual Tone Spectral Range27 Aug 2026 · Company Update / Press Release / Media Release
TVS Motor Celebrates One Million TVS iQube Families With The MillionR Special Edition25 Aug 2026 · Company Update / Press Release / Media Release
TVS MOTOR COMPANY LAUNCHES TVS ORBITER IN SRI LANKA - A SMART SUSTAINABLE, URBAN EV COMMUTE SOLUTION14 Aug 2026 · Company Update / Press Release / Media Release
TVS MOTOR COMPANY ACCELERATES EV TRANSITION IN SRILANKA WITH THE LAUNCH OF TVS KING EV MAX13 Aug 2026 · Company Update / Press Release / Media Release
Intimation of record date under Regulation 60 of SEBI (LODR) Regulations, 2015 for payment of coupon rate and redemption of Non Convertible Redeemable Preference Shares11 Aug 2026 · Company Update / General
Allotment of 1,00,000 Non Convertible Debentures through Private Placement10 Aug 2026 · Company Update / Allotment of Equity Shares
TVS MOTOR ACCELERATES GLOBAL EV EXPANSION WITH TVS IQUBE LAUNCH IN KENYA, THE FIRST INDIAN OEM TO INTRODUCE A PREMIUM ELECTRIC SCOOTER IN AFRICA6 Aug 2026 · Company Update / Press Release / Media Release
Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Composite Scheme of Amalgamation amongst Home Credit India Finance Private Limited and STPL Trading and Services Private ....5 Aug 2026 · Company Update / Scheme of Arrangement
Sales update for the month of July 20263 Aug 2026 · Company Update / Monthly Business Updates
Newspaper Advertisement - Special Window for Transfer and Dematerialisation of Physical Securities31 Jul 2026 · Company Update / Newspaper Publication
TVS Motor Expands TVS Raider Super Squad Edition with New Marvel Doctor Doom-Inspired Variant30 Jul 2026 · Company Update / Press Release / Media Release
Compliance under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 201528 Jul 2026 · Company Update / Earnings Call Transcript
Compliance under regulation 30 of SEBI LODR27 Jul 2026 · Company Update / Acquisition
TVS RACING : THE APACHE LEGACY STARTS YOUNG27 Jul 2026 · Company Update / Press Release / Media Release
TVS MOTOR COMPANY LAUNCHES TVS ORBITER IN NEPAL - A SMART, SUSTAINABLE, URBAN EV COMMUTE SOLUTION23 Jul 2026 · Company Update / Press Release / Media Release
Voting Results and Scrutinizer''s Report of the 34th Annual General Meeting22 Jul 2026 · AGM/EGM / AGM
TVS MOTOR LAUNCHES TVS RAIDER IN EGYPT SET TO REDIFINE THE PREMIUM COMMUTER SEGMENT FOR YOUNG AND URBAN RAIDERS22 Jul 2026 · Company Update / Press Release / Media Release
Summary of Proceedings of the 34th Annual General Meeting held on 22nd July 202622 Jul 2026 · AGM/EGM / AGM
Compliance under Regulation 30 of SEBI (LODR) Regulations, 201521 Jul 2026 · Company Update / Analyst / Investor Meet
Intimation of Credit Rating under SEBI (LODR) Regulations, 201521 Jul 2026 · Company Update / Credit Rating
Press release on Unaudited Financial Results for the quarter ended 30th June 202621 Jul 2026 · Company Update / Press Release / Media Release
Board meeting outcome for Unaudited Financial Results for the Quarter ended 30th June 2026 & Raising of funds through issuance of Debt instruments and/or Commercial Papers and/or availing ....21 Jul 2026 · Board Meeting / Outcome of Board Meeting
Unaudited Financial Results for the Quarter ended 30th June 202621 Jul 2026 · Result / Financial Results
AGM Updates - Intimation of One - Way Live Webcast Link of the Proceedings of the 34th Annual General Meeting.21 Jul 2026 · AGM/EGM / AGM
Allotment of 50,000 Non- Convertible Debentures on a Private Placement basis20 Jul 2026 · Company Update / Allotment of Equity Shares
Compliance under Regulation 30 of SEBI (LODR) Regulations, 2015 - Analyst/ Investor Meet Intimation15 Jul 2026 · Company Update / Analyst / Investor Meet
TVS Motor Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/07/2026 ,inter alia, to consider and approve Unaudited (Limited Reviewed) ....10 Jul 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74 (5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June 20268 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
TVS MOTOR COMPANY AND INDIAN OIL CORPORATION LIMITED JOIN HANDS TO ACCELERATE SUSTAINABLE LAST-MILE LPG DISTRIBUTION ACROSS INDIA8 Jul 2026 · Company Update / Press Release / Media Release
From Track to Road, Across 7 Million Journeys: TVS Apache Launches '' Tu Race Laga''6 Jul 2026 · Company Update / Press Release / Media Release
Intimation of Credit Rating under SEBI (Listing Obligation and Disclosure Requirements) Regulations 20153 Jul 2026 · Company Update / Credit Rating

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 12.0000	30 Mar 2026	31 Mar 2026	—
Scheme of Arrangement	25 Aug 2025	25 Aug 2025	—
Interim Dividend - Rs. - 10.0000	26 Mar 2025	26 Mar 2025	—

Board meetings

21 Jul 2026 Board Meeting - Financial Results

Coverage

INFORMED coverage

TVS Motor Q1 Profit, Revenue at Record Highs on 28% Volume Growth; EV Sales Surge 86%