TVS Supply Chain Solutions (TVSSCS) Q1 26/27 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 3,335.2 crore in Q1 FY27, up 28.7% year-over-year and 10% sequentially, driven by strong growth in both ISCS and GFS segments.

• Adjusted EBITDA rose 34% year-over-year to INR 232.2 crore, with margin improvement of 30 bps to 7%.

• Adjusted PBT increased to INR 32.1 crore, up 70.7% year-over-year; operational PAT grew 156% year-over-year to INR 22.5 crore, excluding prior year exceptional items.

• India led growth with 44% year-over-year revenue increase; ISCS up 30%, GFS up 84% year-over-year.

• Acquisition of Swamy & Sons 3PL completed and contributed accretively to Q1 FY27 results.

Financial highlights

• Q1 FY27 consolidated revenue: INR 3,335.22 crore, up from INR 2,592.31 crore in Q1 FY26 and INR 3,032.22 crore in Q4 FY26.

• Adjusted EBITDA: INR 232.2 crore, up 34% year-over-year, margin expanded to 7.0% (+30 bps year-over-year).

• Adjusted PBT: INR 32.1 crore, up 70.7% year-over-year; operational PAT: INR 22.5 crore.

• Highest ever new business revenue in a quarter: INR 543 crore; order pipeline exceeds INR 7,500 crore.

• Credit rating outlook revised from Ind AA Stable to Ind AA Positive.

Outlook and guidance

• Management targets mid-teen revenue growth for FY27, with sequential margin improvement expected.

• ISCS EBITDA margin expected to return to above 9% from Q2, aiming for 9.5%-10% by Q4.

• Aspires to achieve 4% PBT margin by FY28, with 3% PAT margin at a 25% tax rate.

• JV with ALA Group expected to generate INR 2,000 crore revenue by year five, with margin accretion.

• Continued focus on operational efficiency, cost optimization, and expanding customer relationships.