TVS Motor Company Limited has announced its best-ever quarterly performance for the second quarter of fiscal year 2025-26, posting record operating revenue of Rs. 11,905 crores, marking a robust 29% year-on-year growth compared to Rs. 9,228 crores in the corresponding quarter last year.
The company’s operating EBITDA reached an all-time high of Rs. 1,509 crores, representing a remarkable 40% increase over the Rs. 1,080 crores reported in Q2 FY25. The EBITDA margin also expanded by 100 basis points to 12.7%, up from 11.7% in the same quarter last year, demonstrating improved operational efficiency and cost management.
Profit Before Tax (PBT) for the quarter surged 37% to Rs. 1,226 crores compared to Rs. 897 crores in Q2 FY25. It is noteworthy that the current quarter’s PBT includes a fair valuation loss of Rs. 31 crores on investments, compared to a gain of Rs. 23 crores in the corresponding period last year.
Record Sales Performance
TVS Motor Company achieved its highest-ever quarterly sales volume of 15.07 lakh units, reflecting a 23% growth over the 12.28 lakh units sold in Q2 FY25. The growth was broad-based across all segments and geographies.
The motorcycle segment registered 6.73 lakh units in sales, up 20% from 5.61 lakh units last year. The scooter segment showed even stronger momentum with sales of 6.39 lakh units, a 30% jump from 4.90 lakh units in Q2 FY25. The company’s international two-wheeler business grew impressively by 31%, reaching 3.63 lakh units compared to 2.78 lakh units in the year-ago quarter.
The three-wheeler segment also posted strong growth, with sales increasing 41% to 0.53 lakh units versus 0.38 lakh units in Q2 FY25.
Electric Vehicle Momentum
The company’s electric vehicle (EV) sales grew 7% to achieve the highest-ever quarterly sales of 0.80 lakh units compared to 0.75 lakh units in Q2 FY25. However, management noted that magnet availability continues to present challenges in the short to medium term for EV production.
Half-Year Performance
For the first half of FY26, TVS Motor Company’s total two-wheeler sales grew 20% to 26.86 lakh units, while three-wheeler sales surged 43% to 0.98 lakh units. International business sales increased 34% to 7.52 lakh units.
Total revenue for H1 FY26 stood at Rs. 21,986 crores, up 25% from Rs. 17,604 crores in the corresponding period last year. Half-year PBT grew 36% to Rs. 2,279 crores against Rs. 1,680 crores in H1 FY25.
New Product Launches
TVS Motor strengthened its product portfolio with four significant launches during the quarter. The company introduced the TVS Orbiter, a smart electric scooter designed for urban mobility, and the TVS King Kargo HD EV for urban logistics applications.
In the internal combustion engine segment, the company launched the TVS NTORQ 150, positioned as India’s quickest and first Hyper Sport Scooter, and forayed into the adventure rally tourer segment with the super-premium TVS Apache RTX. All new products have received strong customer response.
TVS Motor Company is a leading two and three-wheeler manufacturer with four state-of-the-art facilities in India and Indonesia. Operating across 80 countries, the company is recognized for quality and innovation, being the only two-wheeler manufacturer to win the prestigious Deming Prize. The group includes Norton Motorcycles in the UK and TVS Ebike Company AG in Switzerland.
The strong Q2 performance underscores TVS Motor’s growing market presence, product innovation capabilities, and operational excellence, positioning the company well for sustained growth in the evolving mobility landscape.