TVS Motor Company delivered a strong performance in the September quarter (Q2 FY26), reporting growth across revenue, profit, and sales volumes compared to the same period last year.
The company’s revenue from operations rose by 25.5 per cent to Rs 14,051.22 crore, up from Rs 11,197.19 crore in Q2 FY25, while total income increased by 25 per cent to Rs 14,037.22 crore.
Total expenses climbed 23.9 per cent to Rs 12,801.67 crore, driven by higher input and operating costs.
Despite the rise in expenses, net profit for the September quarter (Q2 FY26) rose to Rs 832.76 crore, up 41.6 per cent from Rs 588.13 crore in the same period last year.
Record Operating Revenue and Margins
TVS Motor also achieved its highest-ever operating revenue of Rs 11,905 crore, marking a 29 per cent year-on-year increase from Rs 9,228 crore in Q2 FY25.
The company’s operating EBITDA stood at a record Rs 1,509 crore, up 40 per cent from Rs 1,080 crore a year ago, with an improved EBITDA margin of 12.7 per cent, compared to 11.7 per cent in the previous year.
Profit Before Tax (PBT) rose 37 per cent to Rs 1,226 crore, even after accounting for a Rs 31 crore fair valuation loss on investments, against a Rs 23 crore gain in the corresponding quarter last year.
Robust Sales Across Segments
From an operational perspective, TVS Motor achieved its highest-ever quarterly sales, with total two-wheeler and three-wheeler sales growing 23 per cent to 15.07 lakh units, compared to 12.28 lakh units a year earlier.
Motorcycle sales increased 20 per cent to 6.73 lakh units, while scooter sales surged 30 per cent to 6.39 lakh units.
The international business also recorded robust growth of 31 per cent, selling 3.63 lakh units in Q2 FY26 versus 2.78 lakh units a year ago.
Three-wheeler sales rose sharply by 41 per cent to 0.53 lakh units.
EV Segment Continues Growth Momentum
In the electric vehicle (EV) segment, TVS Motor achieved its highest-ever quarterly EV sales of 0.80 lakh units, marking a 7 per cent growth over 0.75 lakh units in the same quarter last year, despite supply challenges related to magnet availability.
Half-Year Performance
For the half-year ended September 2025, TVS Motor reported total revenue of Rs 21,986 crore, up 25 per cent from Rs 17,604 crore in H1 FY25.
PBT for the half-year rose 36 per cent to Rs 2,279 crore, compared to Rs 1,680 crore last year.
Two-wheeler sales for the half-year grew 20 per cent to 26.86 lakh units, while three-wheeler sales rose 43 per cent to 0.98 lakh units.
Export volumes for two- and three-wheelers combined increased 34 per cent to 7.52 lakh units.
New Product Launches Strengthen Portfolio
The company also strengthened its product portfolio with four new launches in the last three months.
In the EV category, it introduced the TVS Orbiter, a stylish and connected urban mobility EV, and the TVS King Kargo HD EV, designed for sustainable logistics.
In the premium petrol segment, TVS launched the NTORQ 150, India’s first “Hyper Sport Scooter,” and the TVS Apache RTX, a high-performance adventure tourer.
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