TVS Motor Company reported a strong Q3 FY’26, with revenue reaching ₹12,476 crore, a 37% increase year-over-year. Operating EBITDA grew by 51%, and profit after tax stood at ₹940 crore. The company saw growth in two-wheeler and three-wheeler sales, both domestically and internationally, and expects continued industry growth driven by GST benefits and infrastructure development.
Financial Performance
TVS Motor Company announced impressive results for Q3 FY’26:
- Sales volume grew by 27%.
- Revenue increased by 37% to ₹12,476 crore, compared to ₹9,097 crore in the same quarter last year.
- Operating EBITDA grew by 51% to ₹1,634 crore.
- Profit after tax was ₹940 crore.
For the first 9 months of the fiscal year, operating revenue grew by 29% to ₹34,463 crore, and profit after tax reached ₹2,625 crore.
Sales Growth
The company experienced strong sales across various segments:
- Domestic ICE two-wheeler sales grew by 21%, outpacing the industry’s 16% growth.
- International market sales grew by 35%, compared to an industry growth of 23%.
- EV two-wheeler sales increased by 40%, surpassing 1 lakh units this year.
- Three-wheeler sales more than doubled to 60,000 units.
TVS Credit Performance
TVS Credit continued its growth trajectory, disbursing loans to over 41 lakh new customers in the first 9 months. The book size grew by 9% over last year Q3, reaching ₹29,678 crore.
Norton Motorcycles
TVS is building the Norton lineup, unveiled at EICMA 2025, and gearing up to launch new Norton products in the Indian market with a differentiated strategy.
Industry Outlook
The industry experienced 20% growth post-GST reduction in Q3, with rural and urban areas growing by approximately 19% and 21%, respectively. TVS expects Q4 to continue performing well, driven by GST benefits and infrastructure development.
Source: BSE
