TVS Motor Company Ltd.

BSE: TVSMOTOR532343ISIN INE494B01023

Consumer Discretionary
2/3 Wheelers
BSE 100

Share price

₹4,325.00+39.15 (+0.91%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹4,484.70
52W low: ₹3,228.00
Off 52W high: -3.56%
1M return: +7.53%
3M return: -2.09%
6M return: +19.55%
1Y return: +23.96%
20D avg volume: 30,576
50 DMA: ₹4,124.73
200 DMA: ₹3,798.78

Key ratios Consolidated

Market cap: ₹2,05,475 Cr
Current price: ₹4,325.00
52W high / low: ₹4,484.70 / ₹3,228.00
Face value: ₹1.00
P/E: 51.53
P/B: 18.11
EPS (TTM): ₹83.94
Book value / share: ₹238.85
ROE: —
ROCE: 29.00%
Operating margin: —
Net margin: —
Debt / equity: 2.95
Net debt: ₹27,697 Cr
Interest cover: 3.18
Dividend yield: 0.28%
Dividend / share (TTM): ₹12.00
Payout: 14.30%
Cash conversion cycle: -30.7 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	19,474	16,296	15,053	14,756	14,051	12,210	11,542	11,135	11,302	10,407	10,042	10,114
	97.99	158.20	6.65	10.30	14.00	39.66	68.16	65.11	32.31	40.77	43.53	11.88
	19,572	16,454	15,059	14,745	14,037	12,250	11,474	11,200	11,334	10,448	9,999	10,126
	17,777	14,894	13,746	13,369	12,802	11,262	10,465	10,273	10,428	9,691	9,339	9,363
	12,681	10,270	9,098	8,404	8,706	7,062	6,933	6,456	6,603	6,087	6,099	5,782
	159.48	285.24	421.08	258.09	226.69	324.80	343.99	117.82	92.78	280.30	176.46	227.38
	1,449	1,324	1,151	1,103	1,085	1,052	858.10	912.77	941.72	943.46	875.20	855.91
	669.66	602.17	565.82	561.05	552.39	550.56	550.80	539.02	509.04	502.62	512.96	494.44
	358.23	354.00	314.54	322.85	320.42	314.83	291.80	263.92	259.29	246.50	268.71	242.42
	2,560	2,154	2,189	2,251	2,117	1,848	1,792	1,842	1,843	1,725	1,537	1,507
	1,796	1,560	1,313	1,376	1,236	988.11	1,009	927.12	906.35	756.56	659.77	762.99
	0.00	0.00	0.00	-50.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	1,796	1,560	1,313	1,326	1,236	988.11	1,009	927.12	906.35	756.56	659.77	762.99
	571.69	487.58	478.58	431.87	390.53	334.33	306.18	296.57	299.39	253.71	238.86	240.62
	1,219	1,058	819.55	891.26	832.76	642.86	697.51	609.35	588.13	484.82	411.53	509.61
	25.14	21.46	16.24	17.71	16.74	12.84	13.64	11.91	11.80	9.70	8.15	10.08
Key metrics
	2,823	2,516	2,194	2,210	2,108	1,854	1,852	1,730	1,675	1,506	1,441	1,500
	14.50%	15.40%	14.60%	15.00%	15.00%	15.20%	16.00%	15.50%	14.80%	14.50%	14.40%	14.80%
	6.30%	6.50%	5.40%	6.00%	5.90%	5.30%	6.00%	5.50%	5.20%	4.70%	4.10%	5.00%
	7.70%	—	7.70%	—	7.10%	—	6.30%	—	—	—	—	—
	38.60%	33.50%	30.40%	32.50%	24.30%	17.30%	14.90%	10.10%	—	—	—	—
	46.40%	64.50%	17.50%	46.30%	41.60%	32.60%	69.50%	19.60%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	65,578	56,070	44,089	39,145	31,974	24,355	19,421	18,849	20,160	16,656	13,574
	273.14	22.01	69.56	105.82	138.00	32.87	47.22	51.83	25.44	145.36	165.44
	65,831	56,092	44,159	39,251	32,112	24,388	19,468	18,901	20,185	16,801	13,739
	59,786	51,179	40,579	36,504	30,133	23,284	18,629	17,987	19,104	15,871	13,082
	40,453	33,270	25,968	23,718	20,093	15,939	12,701	12,051	13,788	11,003	8,693
	1,124	1,231	834.62	1,012	890.95	579.04	224.92	259.20	244.84	254.56	292.70
	5,027	4,392	3,581	3,385	2,890	2,124	1,689	1,539	1,432	1,150	828.05
	2,399	2,230	2,093	1,928	1,368	940.22	881.49	854.54	663.40	338.22	59.62
	1,350	1,273	1,046	975.12	858.86	742.86	564.82	556.00	441.71	—	—
	9,153	8,405	7,136	5,811	—	3,219	2,568	2,720	2,613	2,356	1,829
	6,044	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
	5,994	4,863	3,579	2,746	1,977	1,064	829.38	874.01	1,081	930.24	657.76
	1,970	1,635	1,155	924.38	626.57	335.91	214.13	218.62	357.45	266.03	148.67
	3,988	3,186	2,380	1,779	1,309	730.88	607.50	646.80	725.40	664.78	509.09
	80.55	63.53	47.05	35.50	27.97	15.93	12.51	13.15	14.83	—	—
Key metrics
	9,743	8,365	6,718	5,649	4,204	2,747	2,276	2,285	2,186	1,268	717.38
	14.86%	14.90%	15.20%	14.40%	13.10%	11.30%	11.70%	12.10%	10.80%	7.60%	5.30%
	6.08%	5.70%	5.40%	4.50%	4.10%	3.00%	3.10%	3.40%	3.60%	4.00%	3.80%
	—	29.00%	22.90%	—	—	—	—	—	—	—	—
	34.00%	27.20%	12.60%	22.40%	31.30%	25.40%	3.00%	-6.50%	21.00%	22.70%	—
	43.32%	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	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	17,103	13,896	12,808	12,476	11,905	10,081	9,550	9,097	9,228	8,376	8,169	8,245
	45.04	150.84	-16.23	28.01	-21.33	34.29	14.50	22.69	29.91	36.29	28.67	73.40
	17,148	14,047	12,791	12,448	11,884	10,115	9,565	9,074	9,258	8,412	8,140	8,318
	15,284	12,457	11,433	11,134	10,658	9,062	8,453	8,238	8,361	7,629	7,469	7,543
	12,494	10,105	8,926	8,291	8,627	6,943	6,791	6,343	6,468	5,941	5,969	5,696
	201.25	148.95	135.17	113.10	120.74	118.97	98.13	110.71	105.36	92.53	91.98	109.50
	805.55	678.43	644.64	618.93	604.69	580.76	495.94	498.81	496.74	478.77	420.54	403.55
	123.85	75.50	59.10	57.91	46.57	40.30	35.78	33.75	31.91	37.22	37.21	44.75
	275.64	265.29	245.76	233.52	214.42	203.94	199.37	188.33	180.57	176.33	188.67	178.06
	1,597	1,327	1,336	1,340	1,332	1,062	1,055	1,006	1,050	956.26	878.17	841.39
	1,865	1,589	1,358	1,315	1,226	1,053	1,112	836.68	897.22	782.91	671.63	775.02
	0.00	0.00	0.00	-41.37	0.00	0.00	0.00	—	—	—	—	—
	1,865	1,589	1,358	1,273	1,226	1,053	1,112	836.68	897.22	782.91	671.63	775.02
	487.40	415.48	360.70	332.91	320.21	274.48	259.86	218.20	234.60	205.59	186.20	181.67
	1,377	1,174	997.70	940.37	906.09	778.59	852.12	618.48	662.62	577.32	485.43	593.35
	28.99	24.71	21.00	19.79	19.07	16.39	17.94	13.02	13.95	12.15	10.22	12.49
Key metrics
	2,264	1,930	1,663	1,565	1,487	1,297	1,347	1,059	1,110	996.46	897.51	997.83
	13.20%	13.90%	13.00%	12.50%	12.50%	12.90%	14.10%	11.60%	12.00%	11.90%	11.00%	12.10%
	8.10%	8.40%	7.80%	7.50%	7.60%	7.70%	8.90%	6.80%	7.20%	6.90%	5.90%	7.20%
	10.40%	—	11.00%	—	11.50%	—	10.00%	—	—	—	—	—
	43.70%	37.80%	34.10%	37.10%	29.00%	20.40%	16.90%	10.30%	—	—	—	—
	52.00%	50.80%	17.10%	52.00%	36.70%	34.90%	75.50%	4.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	56,283	47,270	36,251	31,776	26,378	20,791	16,751	16,423	18,210	15,473	13,190
	207.66	29.97	58.01	148.53	100.57	18.99	32.97	32.10	7.54	144.78	173.37
	56,435	47,240	36,309	31,925	26,479	20,810	16,784	16,455	18,217	15,618	13,363
	50,308	42,295	32,681	29,144	24,475	19,566	15,957	15,669	17,256	14,739	12,665
	39,816	32,787	25,542	23,244	19,610	15,547	12,507	11,855	13,673	10,910	8,621
	598.47	487.98	406.73	389.37	378.00	286.05	224.21	259.20	244.84	254.41	291.22
	2,748	2,452	1,970	1,596	1,345	1,136	948.47	938.41	922.63	868.01	745.64
	316.36	203.88	138.66	181.63	140.66	125.92	141.60	102.19	80.56	56.62	43.95
	1,020	900.61	744.60	700.35	631.23	611.44	493.68	489.03	399.27	338.73	—
	5,600	5,072	4,066	3,237	2,365	1,884	1,650	2,003	2,012	1,999	1,679
	6,127	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	—	—	—
	6,086	4,904	3,629	2,781	2,003	1,213	826.24	754.41	960.96	878.64	698.68
	1,596	1,288	918.25	697.66	512.34	319.65	214.20	162.16	290.82	216.05	140.60
	4,489	3,615	2,711	2,083	1,491	893.56	612.04	592.25	670.14	662.59	558.08
	94.49	76.09	57.05	43.84	31.38	18.81	12.88	12.47	14.11	—	—
Key metrics
	7,422	6,008	4,512	3,663	2,775	1,951	1,462	1,346	1,441	1,274	742.63
	13.19%	12.70%	12.40%	11.50%	10.50%	9.40%	8.70%	8.20%	7.90%	8.20%	5.60%
	7.98%	7.60%	7.50%	6.60%	5.70%	4.30%	3.70%	3.60%	3.70%	4.30%	4.20%
	—	39.50%	32.70%	—	—	—	—	—	—	—	—
	38.51%	30.40%	14.10%	20.50%	26.90%	24.10%	2.00%	-9.80%	17.70%	17.30%	—
	42.28%	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%
Profit CAGR 3Y: +34.34%
Profit CAGR 5Y: +42.65%
Sales YoY (TTM): +38.51%
Profit YoY (TTM): +42.28%

Consolidated

Sales CAGR 3Y: +20.59%
Sales CAGR 5Y: +23.62%
Profit CAGR 3Y: +34.50%
Profit CAGR 5Y: +39.30%
Sales YoY (TTM): +34.00%
Profit YoY (TTM): +43.32%

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.

Coverage

INFORMED coverage

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

Shareholding as of 30 Sep 2026

Promoter holding: 50.27%

Quarter	September 2026	June 2026
Promoter %	50.27%	50.27%

Holder	Type	Holding	Previous	Change
TVS HOLDINGS LIMITED (Formerly known as Sundaram Clayton Limited)	Promoter	50.26%	50.26%	0.00%
ICICI Mutual Fund	Public	6.35%	6.81%	-0.46%
NPS Trust	Public	1.69%	1.66%	+0.03%
Axis Mutual Fund	Public	1.31%	1.43%	-0.12%
MALLIKA SRINIVASAN	Promoter Group	0.01%	0.01%	0.00%
VS Trust (Mr Venu Srinivasan, Trustee)	Promoter Group	0.00%	0.00%	0.00%
Srinivasan Venu Trust (Mr Venu Srinivasan, Trustee)	Promoter Group	0.00%	0.00%	0.00%
VS Trustee Private Limited	Promoter Group	0.00%	0.00%	0.00%
SUDARSHAN VENU	Promoter Group	0.00%	0.00%	0.00%
S. Venu Trustee Private Limited	Promoter Group	0.00%	0.00%	0.00%
CHEEMA VENU TRUST (formely known as VEE ESS Trust) (Venu Srinivasan Trustee Private Limited, Trustee)	Promoter Group	0.00%	0.00%	0.00%
Venu Srinivasan Trustee Private Limited	Promoter Group	0.00%	0.00%	0.00%
LAKSHMI VENU	Promoter Group	0.00%	0.00%	0.00%
VS PTC Trust (Mr Venu Srinivasan, Trustee)	Promoter Group	0.00%	0.00%	0.00%
VENU SRINIVASAN	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Bajaj Auto Limited	2,91,215	10,597.20	22.72	25.20%	+47.85% TTM	+53.84% TTM	+21.15%
TVS Motor Company Ltd.	2,05,475	4,325.00	51.53	29.00%	+34.00% TTM	+43.32% TTM	+23.96%
Eicher Motors Ltd.	2,03,613	7,417.00	35.27	23.50%	+28.07% TTM	+19.31% TTM	+7.13%
Hero MotoCorp Limited	1,07,930	5,392.15	17.90	30.30%	+27.00% TTM	+13.65% TTM	+1.56%
Ather Energy Limited	72,233	1,820.00	—	—	—	—	+172.64%
Ola Electric Mobility Limited	17,515	35.04	-9.32	-29.70%	-49.16% TTM	+26.13% TTM	—
Zelio E Mobility Limited	2,187	1,034.10	—	31.70%	—	—	+178.51%
WARDWIZARD INNOVATIONS AND MOBILITY LIMITED	96	3.20	102.19	13.80%	-3.33% TTM	-81.82% TTM	-71.56%
SUPERTECH EV LIMITED S	38	30.82	10.70	12.20%	—	—	-21.48%

Filings & corporate actions

Recent announcements

Compliance under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 20154 Nov 2026 · Company Update / Earnings Call Transcript
TVS MOTOR COMPANY STRENGTHENS ITS EUROPEAN PRESENCE WITH FOUR PRODUCTION READY MODELS AT EICMA 20263 Nov 2026 · Company Update / Press Release / Media Release
Monthly Business update for the month of October 20261 Nov 2026 · Company Update / Monthly Business Updates
TVS STRENGTHENS ITS MODERN-RETRO LINE WITH THE LAUNCH OF THE LATEST RONIN SERIES, INSPIRED BY AGONDA BEACH29 Oct 2026 · Company Update / Press Release / Media Release
Compliance under Regulation 30 of SEBI (LODR) Regulations, 201528 Oct 2026 · Company Update / Analyst / Investor Meet
Press release on the Composite Scheme of Arrangement28 Oct 2026 · Company Update / Press Release / Media Release
Press Release on the Unaudited Financial Results for the quarter ended 30th September 202628 Oct 2026 · Company Update / Press Release / Media Release
Disclosure under Regulation 30 - Acquisition of entire stake of STPL Trading and Services Private Limited28 Oct 2026 · Company Update / Acquisition
Acquisition of entire stake of Harita ARC Limited28 Oct 2026 · Company Update / Acquisition
Composite Scheme of Arrangement amongst TVS Motor Services Limited ("Transferor Company"), TVS Motor Company Limited ("Transferee Company" (or) "Demerged Company") and Harita ARC Limited ....28 Oct 2026 · Company Update / Scheme of Arrangement
Outcome of the Board Meeting28 Oct 2026 · Board Meeting / Outcome of Board Meeting
Unaudited Standalone & Consolidated Financial Results for the Quarter ended 30th September 202628 Oct 2026 · Result / Financial Results
Intimation on Postal Ballot - Scrutinizer''s Report22 Oct 2026 · AGM/EGM / Postal Ballot
Intimation on Outcome of Postal Ballot22 Oct 2026 · AGM/EGM / Postal Ballot
Compliance under Regulation 30 of SEBI (LODR) Regulations, 2015 - Analyst/ Investor Meet Intimation21 Oct 2026 · Company Update / Analyst / Investor Meet
Intimation of Credit Rating under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 201520 Oct 2026 · Company Update / Credit Rating
TVS Motor Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve Unaudited (Limited Reviewed) ....16 Oct 2026 · Board Meeting / Board Meeting
Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018, for the quarter ended on 30th September, 20265 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Sales Update for the month of September 20261 Oct 2026 · Company Update / Monthly Business Updates
Newspaper Advertisement - Special Window for Transfer and Dematerialisation of Physical Securities30 Sep 2026 · Company Update / Newspaper Publication
TVS MOTOSOUL 6.0 : THE ULTIMATE CELEBRATION OF MOTORCYCLING RETURNS THIS DECEMBER30 Sep 2026 · Company Update / Press Release / Media Release
Intimation of Closure of Trading Window30 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
TVS MOTOR COMPANY LAUNCHES NEPAL''S FIRST 150CC HYPER SPORT SCOOTER TVS NTORQ 15026 Sep 2026 · Company Update / Press Release / Media Release
Notice of Postal Ballot22 Sep 2026 · AGM/EGM / Postal Ballot
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

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

28 Oct 2026 Board Meeting - Financial Results
21 Jul 2026 Board Meeting - Financial Results

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

INFORMED Newsroom · 2026-07-21

TVS Motor Company, which makes two-wheelers and three-wheelers for personal transport, delivery, and public mobility, reported its highest-ever quarterly revenue of ₹13,896 crore and net profit of ₹1,174 crore for the quarter ended June 2026. The company sold 1.63 million vehicles, a 28% jump from a year earlier, powered by strong demand for scooters, electric vehicles, and international markets. Despite a sharp rise in commodity costs, the company expanded its EBITDA margin by 30 basis points to 12.8%, underscoring its ability to balance pricing, cost control, and a premium product mix.

Record Financial Performance

TVS Motor’s standalone revenue grew 38% year-on-year to ₹13,896 crore, while profit after tax (PAT) surged 51% to ₹1,174 crore . The quarter’s PAT included a fair-valuation gain of ₹150 crore on investments, compared with ₹28 crore in the same quarter last year . Even excluding this, the underlying profit growth remained robust.

The company’s quarterly performance has been on a steady upward trajectory:

Quarter	Revenue (₹ crore)	PAT (₹ crore)
Q1 FY26	10,081	776
Q2 FY26	11,905	906
Q3 FY26	12,476	940
Q4 FY26	12,808	998
Q1 FY27	13,896	1,174

Revenue in Q1 FY27 was the highest ever, and the 38% growth was the strongest in at least two years. EBITDA rose 41% to ₹1,779 crore, with the margin improving to 12.8% from 12.5% in Q1 FY26 .

Segment Sales: Broad-Based Growth, EV Shines

Total two- and three-wheeler sales reached 1.63 million units, up 28% . Every segment contributed:

Motorcycles: 0.74 million units, up 19%
Scooters: 0.68 million units, up 36%
Mopeds: 0.143 million units, up 27%
Three-wheelers: 66,697 units, up 48%
Electric two-wheelers: 129,940 units, up 86%

The electric vehicle (EV) segment crossed 1 million cumulative customers, and the iQube scooter alone surpassed 1 million units in production . Management had previously indicated that EV capacity was being scaled up from around 30,000–32,000 units per month to 50,000, and the Q1 run-rate of over 43,000 units per month signals that the company is on track to meet that goal .

Managing Commodity Headwinds

The company flagged a sharp increase in commodity prices during the quarter due to global uncertainties, which pushed up input costs . However, it partially offset the impact through price adjustments and focused cost-optimisation initiatives, benefiting from higher scale.

This approach echoes the strategy outlined by management in the May 2026 earnings call, where CEO K.N. Radhakrishnan described commodity inflation of 3–5% of revenue and said the company had been able to pass on about 35% of the cost increase through price hikes, while the rest was absorbed through scale benefits, product-mix improvement, and sustained cost reduction . The Q1 margin expansion suggests that the playbook is working, even as the commodity environment remains challenging.

International Business Momentum

International sales grew 33% to 0.47 million units, another record . The company has been consistently outperforming the industry in exports, with full-year FY26 international volumes reaching 1.58 million units – a 33% increase . Africa, Asia, and Latin America remain key growth regions, and TVS recently entered Zambia . In the May 2026 call, management expressed confidence that the international momentum would continue, supported by new product introductions like the TVS Orbiter and the establishment of a strategic office in Dubai .

Strategic Initiatives and Outlook

The quarter saw several product and brand milestones: the launch of the TVS iQube S with a 4.7 kWh battery, the rollout of the first Norton Atlas at its Hosur plant, and the TVS King Kargo HD winning an award at the ET AutoTech Awards 2026 . The company’s chairman emeritus, Venu Srinivasan, received the CII President’s Award for Lifetime Achievement .

Looking ahead, TVS Motor has guided for ₹3,500 crore in capital expenditure for FY2027, including ₹1,000 crore for capacity expansion and close to ₹2,000 crore for R&D and product development . Management remains cautiously optimistic about domestic demand, expecting a good single-digit industry growth, while geopolitical tensions and commodity prices will be monitored closely .

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