TVS Motor Company (532343) Q4 25/26 earnings summary

Executive summary

• Achieved record sales of 5.9 million units in FY 2026, up 24% year-over-year, with highest ever revenue of ₹47,270 crore, a 30% increase from the previous year.

• Operating EBITDA margin improved to 12.9% for the year, and operating PBT grew 40% to ₹4,975 crore.

• Quarterly sales reached 1.56 million units, up 28% year-over-year in Q4 FY26; quarterly revenue hit ₹12,808 crore, up 36% year-over-year.

• Strong growth across ICE, EV, and three-wheeler segments, with international and domestic markets both contributing.

• Continued focus on premiumization, product innovation, and international expansion.

Financial highlights

• FY26 operating EBITDA was ₹6,079 crore, up 37% year-over-year; Q4 operating EBITDA was ₹1,679 crore, up 43% year-over-year.

• FY26 operating PBT was ₹4,975 crore, up 40% year-over-year; Q4 operating PBT was ₹1,375 crore, up 47% year-over-year.

• Net profit after tax (standalone): ₹3,615 crore for FY26 (up from ₹2,634 crore in FY25); Q4 net profit: ₹998 crore.

• Earnings per share (standalone): ₹76.09 for FY26 (up from ₹55.44 in FY25).

• EV revenue for FY26 was approximately ₹5,000 crore.

Outlook and guidance

• Expects strong single-digit industry growth in FY 2027, with company aiming to outpace industry.

• Scooters, EVs, and premium segments expected to drive growth; economy segment to remain challenging.

• International momentum to continue, with close monitoring of geopolitical and supply chain risks.

• Capacity expansion underway to reach 8.3 million units annually.

• Board declared an interim dividend of ₹12 per share for FY26, totaling ₹570 crore.