TVS Posts 37% YoY Revenue Growth Q3 FY26, Highest Ever for Any Quarter

TVS Motor Company has delivered its strongest quarterly performance to date in the third quarter of FY26, reporting record revenues, profitability and sales volumes. The results underline the company’s continued momentum across domestic and international markets, supported by strong demand for its two-wheeler, three-wheeler and electric vehicle portfolios.

Revenue, Profitability Hit All-Time Highs

For the quarter that ended on 31 December 2025, TVS Motor’s operating revenue rose 37 percent year-on-year (YoY) to ₹12,476 crore. This growth was accompanied by a sharp improvement in profitability, with operating EBITDA increasing 51 percent to ₹1,634 crore. EBITDA margins expanded to a record 13.1 percent, reflecting improved operating leverage, cost efficiencies and a favourable product mix.

Profit before tax (PBT), excluding exceptional items, climbed 57 percent YoY to ₹1,315 crore, marking the company’s highest-ever quarterly PBT. The strong financial performance highlights TVS Motor’s ability to scale volumes while maintaining margin discipline in a competitive market environment.

Highest-Ever Quarterly Sales Volumes

TVS recorded its highest-ever quarterly sales volume in Q3 FY26, with combined two-wheeler and three-wheeler sales, including international operations, rising 27 percent to 15.44 lakh units. Motorcycle sales grew 31 percent YoY to 7.26 lakh units, driven by sustained demand across key segments.

Scooter sales also posted healthy growth, increasing 25 percent to 6.14 lakh units during the quarter. The company’s three-wheeler business delivered standout performance, with volumes more than doubling to 0.60 lakh units, representing a YoY growth of 106 percent.

Exports Continue to Accelerate

TVS’ international operations remained a major growth driver in Q3 FY26. Two-wheeler sales in overseas markets rose 35 percent YoY to 3.66 lakh units. The strong performance reflects increasing brand acceptance, an expanded product portfolio and deeper market penetration across key export regions. The continued growth of international volumes underscores TVS Motor’s strategy of diversifying revenue streams and reducing dependence on any single geography.

EV Sales Reach New Milestones

Electric mobility continued to gain traction for TVS Motor during the quarter. EV sales grew 40 percent YoY, reaching a record 1.06 lakh units in Q3 FY26—the highest quarterly EV volume achieved by the company to date. The strong growth in electric vehicle sales highlights increasing consumer adoption, supported by an expanding charging ecosystem and improved product acceptance in both urban and semi-urban markets.

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Strong Performance in Apr-Dec 2025

For the nine months ended December 2025, TVS Motor reported operating revenue of Rs 34,463 crore, up 29 percent compared to the same period last year. Operating EBITDA rose 41 percent to Rs 4,406 crore, while PBT before exceptional items increased 43 percent to Rs 3,594 crore.

Profit after tax (PAT) for the nine-month period stood at Rs 2,625 crore, compared to Rs 1,858 crore in the corresponding period of the previous year. Overall vehicle sales for the nine months grew 23 percent to 43.28 lakh units, reflecting broad-based demand across categories.

Cumulative EV sales during the nine-month period reached 2.56 lakh units, representing a 26 percent year-on-year increase and reinforcing the company’s long-term focus on sustainable mobility.

With record financial results, robust volume growth and strong traction in electric mobility, TVS Motor Company enters the remainder of FY26 on a solid footing. Continued investments in product development, manufacturing efficiency and international expansion are expected to support sustained growth across core and emerging segments.