ALFA Finder| Revenue growth | Q2 +44% YoY; H1 +41% YoY |
|---|---|
| Margins | EBITDA margin 13.0%, +30bps YoY; Q3-Q4 cost hikes unlikely |
| Demand visibility | Dealer stock 21-30 days; strong festive pull expected |
| Management confidence | High; expects to outgrow industry in Q3-Q4 |
Growth
Volume 1.9m units (+27%); EBITDA margin 13.0% (+30bps). H1 revenue INR30,999 Cr (+41%), H1 PAT INR2,551 Cr (+52%).
Outlook
Demerger listing in 8-10 months, appointed date July 2027. Management sees Q3 industry ICE growth single-digit. 2W capacity to 8m+.
Risks
Unprecedented material cost inflation; Q3 base effect; Norton and e-bike losses persist; employee costs up ~33% YoY.
Last quarter's promises, checked
Delivered
- Q2 volume 'much better than Q1' → 1.9m vs Q1 1.63m (= BEAT)
- Intl growth same or slightly better than Q1's +33% → +35% (= BEAT)
- EBITDA margin to improve from Q1's 12.8% → 13.0% (= BEAT)
Partly delivered
- Price hikes Q1 1.5% + Q2 0.5% (2.0%) → Q1-Q2 prices +1.6% (= PARTIAL)
Missed
- 2W ICE growth slightly better than Q1's +23% → +20% (= MISS)
Investor Presentation filed with NSE, NSE: TVSMOTOR. Summary written with AI assistance from the document.
TVS Motor Company Ltd: key numbers
- Share price
- ₹4,491.70
- Market cap
- ₹2,13,395 Cr
- Revenue (annual)
- ₹56,070 Cr
- Net profit (annual)
- ₹3,018 Cr
- P/E (TTM)
- 55.8×Sector 32.4×
- Promoter holding
- 50.27%+0.00% QoQ
- FII holding
- 21.39%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from TVS Motor Company Ltd
All →TVS Motor Company Business Update
TVS Motor's October 2026 sales rose 29% to 700,134 units from 543,557 a year earlier. Two-wheeler EV sales grew 120% to 71,382 units.
TVS Motor Company Product Launch
TVS Motor launched the Ronin Agonda modern-retro motorcycle in Indonesia, priced at IDR 37,080,000 on-the-road. The launch adds a new variant to its existing Ronin range, with no capacity or financial impact disclosed.
TVS Motor Company Acquisition Worth ₹25,000 Cr
TVS Motor will acquire 100% of Harita ARC Limited, a related-party shell, for a stated Rs 25,000 Crore. It supports the proposed consumer finance demerger.
- Value
- ₹25,000 Cr
TVS Motor Company Other Announcement
TVS Motor filed its Q3 FY27 security cover certificate confirming no asset cover is required against ₹1,522.92 Crore of unsecured NCDs. This is routine Reg 54 compliance.
TVS Motor Company Debt & Borrowing
TVS Motor filed its Q3 FY27 Reg 52(7) statement confirming full utilization of ₹1,500 Cr from private-placed NCDs. No deviation in use of proceeds was reported.
TVS Motor Company Results Update
TVS Motor posted record Q2 FY27 revenue of ₹17,103 Cr and PAT of ₹1,377 Cr. Sales hit an all-time high of 1.9 million units.