TVS Motor posts record Rs 1,174 crore profit as revenue rises 38 per cent

CHENNAI: Putting its pedal to the metal, TVS Motor Company Limited has accelerated into the new financial year with record-breaking first-quarter results.

The Indian two-wheeler and three-wheeler manufacturer reported a 51 per cent surge in profit after tax to 1,174 crore rupees for the quarter ending 30 June 2026, up from 776 crore rupees in the same period last year. Overall sales volumes climbed 28 per cent to reach 1.63 million units, while revenue jumped 38 per cent to 13,896 crore rupees.

TVS Motor Company director and chief executive officer K.N. Radhakrishnan attributed the stellar performance to strong customer focus, brand popularity, and cost-reduction efforts across the business. Radhakrishnan added that despite volatile raw material prices caused by regional conflicts, the company managed to post its highest-ever operating EBITDA of 1,779 crore rupees, up 41 per cent year-on-year.

The company’s electric vehicle segment powered ahead rapidly, with two-wheeler EV sales leaping 86 per cent to 130,000 units in the quarter. The iconic iQube electric scooter crossed the milestone of one million total sales, cementing its position as a favourite family vehicle across the country. In commercial mobility, three-wheeler electric vehicle penetration crossed 40 per cent for the first time.

Radhakrishnan confirmed that production capacity is being expanded significantly to meet rising global and domestic demand. Two-wheeler manufacturing capacity is set to reach 8.3 million units this year, supported by an investment of approximately 3,500 crore rupees into new products and infrastructure.

International markets also provided plenty of traction, recording their highest-ever sales of 4.68 lakh units, a 33 per cent year-on-year increase. Demand was particularly strong in Africa, Latin America, and Asia, driven by the flagship TVS HLX series, which recently surpassed 5 million total sales.

On the premium front, the company announced that production of new British-engineered Norton motorcycle models has commenced at its Solihull unit in the UK and its Hosur facility in India. Rollout into European markets is planned for the coming quarter, followed by a US launch later in the year.

Financial stability was further bolstered as rating agency CARE Ratings upgraded the company’s long-term credit rating to AAA, the highest rating achievable. Additionally, the company’s financial services subsidiary, TVS Credit Services, expanded its loan book by 19 per cent to 32,053 crore rupees while serving nearly 2.6 crore customers.

Looking ahead to the second quarter, management expects the double-digit growth momentum to continue, supported by the upcoming festive season and planned product launches. With expanding capacities, robust international presence, and electric vehicle adoption shifting into top gear, TVS Motor Company Limited remains well-positioned to maintain its lead in the global mobility market.