TVS Motor shares fall 3% despite March sales jumping 25%, three-wheeler sales rocket 46%

Shares of TVS Motor Company, one of India’s leading two-wheeler manufacturers, declined as much as 3% to their day's low of Rs 3,330 on the BSE on Thursday even as the company reported total monthly sales of 519,358 units in March 2026, registering a growth of 25% compared to 414,687 units in March 2025.

The drop comes amid weak market mood due to the West Asia war involving US, Israel and Iran. Sensex, Nifty crashed over a percent each after US President Donald Trump said that US forces will 'finish the job' in Iran soon as “core strategic objectives are nearing completion”, and hit the country “extremely hard” within weeks.

In the two-wheeler segment, total sales rose 25% to 498,134 units from 400,120 units a year ago. Domestic two-wheeler sales also grew at the same pace, increasing 25% to 372,383 units from 297,622 units. Within this, motorcycle sales climbed 18% to 232,788 units, while scooter sales saw a stronger growth of 31%, rising to 217,624 units.


Electric vehicle sales recorded a sharp increase of 44%, with volumes rising to 38,877 units from 26,935 units in the corresponding month last year. The company’s international business posted a 25% growth, with total sales increasing to 141,443 units from 113,464 units.

Two-wheeler exports grew 23% to 125,751 units. Three-wheeler sales registered a robust growth of 46%, rising to 21,224 units in March 2026 from 14,567 units in March 2025.

TVS Motor share price performance

Shares of TVS Motor have dropped 10% over the past one month. However, the share price has remained largely range-bound over a longer horizon, slipping just 0.5% in the last six months. On a year-to-date basis, the TVS share price is down nearly 10% while it has delivered an impressive 38% return in the last 1 year.

TVS Motor Q3 snapshot

The company reported a 49% year-on-year (YoY) jump in consolidated net profit for the December quarter at Rs 841 crore, compared with Rs 566 crore in the year-ago period. The profit after tax (PAT) is attributable to the owners of the company.

The company’s revenue from operations stood at Rs 14,756 crore in Q3FY26, up 34% from Rs 11,034 crore reported in the corresponding period of the previous financial year. The company posted its highest-ever quarterly sales, revenue and profits.

Overall two-wheeler and three-wheeler sales, including international business, grew 27% YoY to a record 15.44 lakh units in the quarter ended December 2025, compared with 12.12 lakh units in the year-ago period.

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