TVS Motor Q2 Results: Profit jumps 52% YoY to Rs 1,377 crore; revenue rises 44%

TVS Motor Company reported a 52% year-on-year growth in profit after tax (PAT) to Rs 1,377 crore for the second quarter of financial year 2026-27, compared with Rs 904 crore in the corresponding quarter of the previous fiscal.

Revenue from operations rose 44% to Rs 17,103 crore in the quarter ended September 2026, against Rs 11,905 crore in the year-ago period.

The company reported its highest-ever quarterly EBITDA of Rs 2,219 crore, up 47% from Rs 1,507 crore in the second quarter of FY26. EBITDA margin improved by 30 basis points to 13% from 12.7% in the corresponding quarter last year.


TVS Motor records highest-ever quarterly sales

TVS Motor Company registered its highest-ever quarterly sales in the September quarter, with combined two- and three-wheeler volumes rising 27% year-on-year to 1.9 million units, compared with 1.5 million units in the same period last year.

Motorcycle sales grew 28% to 0.9 million units from 0.7 million units, while scooter sales increased 29% to 0.8 million units from 0.6 million units in the year-ago quarter.

The company's international business reported a 35% increase in sales to 0.5 million units, compared with 0.4 million units in the second quarter of FY26.

Electric two-wheeler sales more than doubled, surging 133% to 186,186 units in Q2 FY27 from 80,009 units a year earlier.

Three-wheeler sales rose 47% to 78,475 units in the quarter ended September 2026, against 53,449 units in the corresponding period of the previous fiscal.

Board approves acquisition of STPL for Rs 530 crore

Separately, the company's board of directors, at its meeting on October 28, 2026, approved the acquisition of the entire stake in STPL Trading and Services Private Limited for Rs 530.08 crore.

The board also approved the execution of a sale and purchase agreement and other ancillary documents required to complete the proposed transaction. Upon completion of the acquisition, STPL will become a wholly owned subsidiary of TVS Motor Company.

The board also considered and approved the acquisition of the entire stake of Harita ARC Limited and a composite scheme of arrangement involving TVS Motor Services Limited, TVS Motor Company Limited and Harita ARC Limited, along with their respective shareholders and creditors.

The scheme is proposed under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. TVS Motor Services and Harita ARC are identified in the disclosure as wholly owned subsidiaries of the company.

TVS Motor shares rise on NSE

Shares of TVS Motor Company rose as much as 4.19% to an intraday high of Rs 4,258 apiece on the NSE on Wednesday, compared with the previous close of Rs 4,087.

At the last check, the stock was trading at Rs 4,239, higher by 2.52% from the previous close on the NSE. The company’s shares have gained 10.49% so far in 2026, based on NSE data.

At the current market price, TVS Motor Company had a market capitalisation of approximately Rs 2,01,389 crore.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here