TVS Motor achieves highest-ever revenue of ₹10,081 crore in Q1 FY26, reports strong profit growth
The announcement includes strong financial results for Q1 FY26, strategic updates on new product launches (Norton, EVs), positive outlook for future growth in key segments, and substantial capex plans, all of which are material to investors.
The company reported its highest-ever quarterly revenue, significant growth in sales volume, EBITDA, and PAT. Management expressed confidence in outperforming the industry, with strong performance across domestic and international markets, and progress in EV and premium segments.
TVS Motor Company Limited announced its financial results for Q1 FY26 during a post-results earnings conference call. Key highlights include: * The company recorded its highest-ever revenue of ₹10,081 crore, a 20% increase from ₹8,376 crore in Q1 FY25. * Sales volume grew by 17%, operating EBITDA by 32% to ₹1,263 crore, and profit after tax (PAT) by 35% to ₹779 crore. * Operating EBITDA margin improved to 12.5% from 11.5% (or 12% including PLI) in the prior year. * Domestic two-wheeler ICE sales grew by 8%, while international two-wheeler sales surged by 40% against industry growth of 23%. Total two-wheeler ICE sales grew by 16%. * EV two-wheeler sales increased by 35% to 70,000 units, with TVS iQube surpassing 6 lakh unit sales and maintaining market leadership. New variants of TVS iQube were launched. * Total three-wheeler sales grew by 46% to 45,000 units, with the TVS King EV Max performing strongly. * TVS Credit reported a 30% growth in PBT to ₹243 crore, with a book size of ₹26,900 crore and a total customer base exceeding 2 crore. * The company plans to launch multiple new Norton products by Q3/Q4 FY26, with availability in Europe by Q1 FY27, and also in India. Investments in Norton are expected to continue for product development, marketing, and brand building. * Management expects moderate growth in Q2 FY26 for domestic ICE business, with positive sentiment due to early monsoon and repo rate reductions. The company anticipates continued growth ahead of the industry, driven by scooterization and premiumization trends. * Challenges in EV magnet availability are being mitigated, and new EV two-wheeler and three-wheeler products are slated for launch next quarter. * International business saw highest-ever quarterly exports of 3.52 lakh units, with strong growth in Africa and LATAM regions. * TVS Motor expects a capex of ₹1,600 crore to ₹1,650 crore for FY26, primarily for new product development. * The company confirmed that PLI for three-wheeler EVs will be accrued from June onwards. * Exports revenue stood at ₹2,487 crore and spares at ₹987 crore for the quarter.
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