Winning Bizness Desk

Mumbai. TVS Motor Company has reported a strong performance in the third quarter of FY 2025-26, posting a sharp rise in profit and revenue on the back of record vehicle sales. The automobile major earned a net profit of Rs 841 crore in the October–December quarter, marking a 49 percent increase compared to Rs 566 crore in the same period last year. Revenue also grew significantly, reflecting sustained demand across domestic and export markets. Following the results, the company’s stock reacted positively, closing nearly five percent higher.

Strong revenue growth lifts quarterly performance

The company’s total income for the quarter rose 33 percent to Rs 14,745 crore, up from Rs 11,099 crore a year ago. The growth was driven by higher volumes, improved product mix and strong demand for electric vehicles. After the results were announced, TVS Motor shares climbed about five percent to close at Rs 3,735 on Wednesday, underlining investor confidence in the company’s earnings momentum and long-term outlook.

Record vehicle sales drive overall growth

TVS Motor achieved its highest-ever quarterly sales in terms of volumes during the October–December period. Combined sales of two-wheelers and three-wheelers rose 27 percent to 15.44 lakh units, the highest in the company’s history for a single quarter. Growth was broad-based across multiple segments, with electric mobility and overseas markets playing a key role.

Key sales highlights from the quarter include:

• Total two-wheeler and three-wheeler sales at 15.44 lakh units
• Electric vehicle sales up 40 percent to a record 1.06 lakh units
• Three-wheeler sales jumping over 106 percent year-on-year
• Export volumes growing a strong 35 percent

Electric push and exports add momentum

Demand for TVS Motor’s electric vehicles continued to accelerate, reflecting growing consumer acceptance and a wider product portfolio. EV sales crossed the one-lakh-unit mark for the first time in a quarter. At the same time, international business delivered robust growth, supported by improving conditions in key overseas markets. The sharp rise in three-wheeler sales further strengthened overall volumes during the quarter.

Stock performance and market valuation

TVS Motor’s share price has delivered steady gains over different time frames. On the day of the results, the stock ended 4.68 percent higher at Rs 3,735. Over the past one month, it has risen 4.50 percent, while the six-month gain stands at 33.45 percent. Over one year, the stock is up about 20 percent. The company’s market capitalisation is currently around Rs 1.77 lakh crore.

Long journey from buses to global two-wheelers

TVS Motor is a multinational two-wheeler manufacturer and ranks as India’s third-largest motorcycle company by revenue. The company sells more than 30 lakh vehicles annually on average and has a manufacturing capacity of over 40 lakh two-wheelers. It is also India’s second-largest two-wheeler exporter, with presence in more than 60 countries.

Some key background points on the company:

• Founded by T V Sundaram Iyengar in 1911
• Began with Madurai’s first bus service
• Expanded into trucks and buses under Southern Roadways
• Later diversified into two-wheelers and global markets