TVS Motor Company has delivered a robust performance in the second quarter of Fiscal Year 2027, reporting its highest-ever quarterly operating revenue and a significant increase in profitability. The two- and three-wheeler manufacturer saw its shares rise by nearly 4% following the announcement of these impressive financial results.
Strong Financial Performance in Q2 FY27
For the quarter ending September 2026 (Q2 FY27), TVS Motor Company recorded an operating revenue of Rs 17,103 crore, marking a substantial 44% year-on-year (YoY) increase from Rs 11,905 crore in the corresponding quarter last year. This figure represents the company's highest-ever quarterly revenue.
Profit After Tax (PAT) surged by 52% YoY, reaching Rs 1,377 crore, compared to Rs 904 crore in Q2 FY26. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) also saw strong growth, increasing by 47% YoY to Rs 2,219 crore from Rs 1,507 crore. The company's EBITDA margin expanded by 30 basis points, improving to 13% from 12.7%.
Record Sales Volumes Across Segments
TVS Motor achieved its highest-ever quarterly sales volume, totaling 1.9 million units in Q2 FY27, a 27% increase from approximately 1.5 million units in the prior-year quarter. This growth was broad-based across various product categories:
- Motorcycle sales: Grew by 28% to 858,000 units.
- Scooter sales: Increased by 29% to 825,000 units.
- Moped sales: Rose by 12% to 157,000 units.
- Three-wheeler sales: Climbed significantly by 47% to 78,475 units.
The company's international business demonstrated strong momentum, with sales reaching 0.5 million units during the quarter, representing a 35% growth. Notably, electric two-wheeler sales more than doubled, soaring by 133% to 186,186 units from 80,009 units in Q2 FY26, highlighting the company's growing presence in the EV market.
Half-Yearly Overview (H1 FY27)
For the first half of Fiscal Year 2027, TVS Motor's performance remained strong. Revenue increased by 41% YoY to Rs 30,999 crore from Rs 21,986 crore. PAT for the half-year rose by 52% to Rs 2,551 crore, up from Rs 1,679 crore. Operating EBITDA for H1 FY27 increased by 44% to Rs 3,998 crore, with the EBITDA margin improving to 12.9% from 12.6%.
Total two-wheeler sales for the first half of the fiscal year grew by 28% to 3.5 million units, while three-wheeler sales increased by 48% to 145,172 units. International two- and three-wheeler sales collectively rose by 34% to 1 million units.
Market Reaction
Following the positive Q2 FY27 results, TVS Motor shares closed at Rs 4,239 apiece, marking a 3.93% increase from the previous close of Rs 4,078.80. The stock opened at Rs 4,106.80 and touched an intraday high of Rs 4,260, reflecting a 4.4% rise from its prior closing price.