TVS Motor Company Ltd.Record Quarterly Performance Across All Metrics

TVS Motor Company delivered its highest-ever quarterly performance with operating revenue surging 37% year-on-year to ₹12,476 crores, while operating EBITDA jumped 51% to ₹1,634 crores.

The company achieved a record EBITDA margin of 13.1%, expanding 120 basis points year-on-year, demonstrating strong operational leverage. Profit after tax grew 52% to ₹940 crores. The company outperformed industry growth across all segments, with domestic two-wheeler ICE sales growing 21% versus industry growth of 16%, and international sales surging 35% against industry growth of 23%. Electric vehicle sales crossed one lakh units, growing 40% year-on-year, while three-wheeler sales more than doubled.

Management expressed high confidence with CEO Radhakrishnan guiding for 15%+ industry growth in Q4 and structural long-term growth of 8-9% CAGR driven by infrastructure development and mobility needs. The company increased FY26 capex guidance to ₹1,700 crores to support capacity expansion, while Norton Motorcycles' new Manx and Atlas families will launch in 2026, positioning TVS in the super-premium luxury segment.