TVS Motor profit hits record ₹3,524 cr, up 54% as volumes and EVs accelerate
Q2 revenue rose 25% to ₹15,053 cr on 5.9M units sold, with EV volumes up 33% to 371,000. Margins held at 14.97%. TVS plans ₹3,500 cr capex and 1.5M unit capacity addition to 8.3M by FY27, betting GST rationalization fuels above-industry growth.
What happened
TVS Motor posted record FY26 profit of ₹3,524 cr (+54%) on revenue of ₹15,053 cr, selling 5.9M two/three-wheelers. Plans 1.5M capacity addition, ₹3,500 cr
Key facts
- profit ₹3,524 cr +54%
- revenue ₹15,053 cr +25%
- 5.9M units sold +25%
- EV sales 371,000 +33%
- EBITDA ₹8,393 cr +26%
- margin 14.97%
- capex ₹3,500 cr FY27
- capacity +1.5M to 8.3M units
Why this matters
The 1.5M unit capacity addition and accelerating EV mix signal aggressive market-share intent, warranting watch on supplier M&A and EV-tech tuck-ins.