TVS Motor Company Ltd.Record Q1 with 38% Revenue Growth

TVS Motor Company delivered a stellar Q1 FY27 performance with revenue surging 38% year-on-year to ₹13,896 crores, driven by robust demand across domestic and international markets.

Operating EBITDA reached a record ₹1,779 crores, up 41% year-on-year, while margins expanded 30 basis points to 12.8% despite commodity cost headwinds of approximately 3.5%. Profit after tax grew an impressive 51% to ₹1,174 crores. Total sales volume increased 28% to 16.3 lakh units, with domestic ICE 2-wheeler sales outperforming the industry at 21% versus 13% sector growth. International business hit record volumes of 4.68 lakh units, up 33%, with demand exceeding current capacity.

The electric vehicle segment showcased exceptional momentum as iQube crossed the 1 million milestone, with 2-wheeler EV sales growing 86% to 1.3 lakh units. Management maintains highly positive guidance for Q2 and full-year FY27, expecting minimum double-digit industry growth and continued market share gains. TVS is executing aggressive capacity expansion to 8.3 million 2-wheeler units by Q4 FY27, with ₹3,500 crores capex planned. The company's credit rating was upgraded to AAA by CARE, reflecting strong financial health.