TVS Motor Posts 54% Surge in Profit to an All-Time High

TVS Motor Co. Ltd Reports Best-Ever Financial Performance

TVS Motor Co. Ltd, India's third-largest two-wheeler manufacturer, has reported its best-ever financial performance for a fiscal year. The company, known for producing Apache motorcycles and Ntorq scooters, outpaced its rivals in sales growth.

The company expects to outperform the industry growth again this fiscal year, despite rising input costs and supply-chain disruptions caused by the war in West Asia. According to K.N. Radhakrishnan, the company's director and chief executive, the uncertainty lies in the timely availability of raw materials.

TVS Motor sold nearly 5.9 million scooters, motorcycles, and three-wheelers in India and overseas in 2025-26, a quarter more than the previous year, and its highest-ever sales. This growth is attributed to the benefits of the goods and services tax (GST) rate rationalization in September 2025.

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Sales Comparison for TVS Motor and Indian Two-Wheeler Industry

The sharp sales growth propelled TVS Motor's consolidated top line to ₹15,053 crore, over a quarter more than the preceding year. The company's profit grew by more than half to ₹3,524 crore. The consolidated financials include the earnings of TVS' domestic automotive business, as well as its international subsidiaries and its lending unit, TVS Credit Services Ltd.

The company's earnings before interest, tax, depreciation, and amortization (Ebitda) grew by 26% on-year to ₹8,393 crore. However, the Ebitda margin narrowed by 11 basis points to 14.97%. TVS Motor sold 24% more motorcycles (2.7 million), 27% more scooters (2.4 million), 33% more electric vehicles (371,000), and 63% more three-wheelers (219,000) than the previous year.

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For the current fiscal year, TVS Motor aims to raise its production capacity by 1.5 million units, bringing its total annual capacity to around 8.3 million units. The company will continue its investments in research and development (R&D) and capacity expansion, with a capital expenditure guidance of ₹3,500 crore for 2026-27.