New Delhi (Economy India): TVS Motor Company has reported its strongest-ever quarterly financial performance in the third quarter of FY26, underlining its growing dominance in India’s two- and three-wheeler market as well as its expanding global footprint. The company recorded historic highs in sales volume, revenue, operating profitability and margins, supported by robust domestic demand, sharp growth in exports, and accelerating adoption of electric vehicles (EVs).
The results mark a significant milestone for the Chennai-based automaker as it continues to capitalise on favourable market conditions, operational efficiencies, and a diversified product portfolio spanning motorcycles, scooters, three-wheelers and electric mobility solutions.
Revenue and Profitability at Record Levels
For the quarter ended December 2025, TVS Motor’s operating revenue surged 37% year-on-year to ₹12,476 crore, compared with ₹9,097 crore in the corresponding quarter of the previous financial year.
Operating profitability also strengthened sharply. The company’s Operating EBITDA rose 51% to ₹1,634 crore, while the EBITDA margin expanded to a record 13.1%, the highest ever achieved by the company in a single quarter. This compares with a normalised EBITDA margin of 12.4% in Q3FY25, reflecting improved cost management, favourable product mix and operating leverage.
Profit before tax (PBT), before exceptional items, increased 57% year-on-year to ₹1,315 crore, highlighting strong bottom-line growth amid sustained volume expansion and margin improvement.
Highest-Ever Quarterly Sales Volumes
TVS Motor registered its highest-ever quarterly sales volumes, with total two-wheeler and three-wheeler sales—including international business—rising 27% to 15.44 lakh units in Q3FY26, up from 12.12 lakh units a year earlier.
Segment-wise Sales Performance
- Motorcycles:
Motorcycle sales grew 31% year-on-year to 7.26 lakh units, driven by strong demand across commuter and premium categories. - Scooters:
Scooter sales rose 25% to 6.14 lakh units, supported by consistent urban demand and improved availability. - Three-wheelers:
The three-wheeler segment witnessed a sharp rebound, with sales more than doubling (up 106%) to 0.60 lakh units, reflecting improving last-mile mobility demand and recovery in commercial transportation.
Strong Momentum in International Markets
TVS Motor’s international business remained a key growth driver during the quarter. Two-wheeler sales in overseas markets increased 35% year-on-year to 3.66 lakh units, compared with 2.72 lakh units in Q3FY25.
The strong export performance reflects rising demand in Africa, Latin America and South-East Asia, as well as the company’s focused strategy to expand its presence in key global markets through localisation, product customisation and distribution network strengthening.
EV Sales Hit All-Time High
Electric mobility remained a standout growth area for TVS Motor during the quarter. EV sales rose 40% year-on-year to a record 1.06 lakh units, compared with 0.76 lakh units in the same quarter last year.
The strong EV performance underscores increasing consumer acceptance of electric two-wheelers, aided by improving charging infrastructure, rising fuel costs and supportive government policies. TVS Motor has been steadily expanding its electric product portfolio and investing in next-generation EV technologies to capture long-term growth opportunities.
Robust Performance in Nine-Month Period
For the nine months ended December 2025, TVS Motor continued to demonstrate strong financial momentum:
- Operating revenue: Up 29% to ₹34,463 crore
- Operating EBITDA: Increased 41% to ₹4,406 crore
- PBT (before exceptional items): Rose 43% to ₹3,594 crore
- Profit after tax (PAT): Jumped to ₹2,625 crore, from ₹1,858 crore a year earlier
Cumulative Sales Growth
Total two-wheeler and three-wheeler sales, including international business, grew 23% to 43.28 lakh units during the nine-month period.
- Motorcycles: 20.19 lakh units (up 24%)
- Scooters: 17.52 lakh units (up 25%)
- International two-wheelers: 10.47 lakh units (up 35%)
- Three-wheelers: 1.59 lakh units
- Electric vehicles: 2.56 lakh units (up 26%)
Strategic Strength and Long-Term Outlook
TVS Motor’s record-breaking performance comes at a time when the Indian automobile sector is witnessing a gradual recovery supported by improving rural demand, stable interest rates and rising consumer confidence. The company’s strong execution, emphasis on premiumisation, expanding EV portfolio and growing international presence position it well for sustained long-term growth.
With four state-of-the-art manufacturing facilities across India and Indonesia, and operations spanning over 80 countries, TVS Motor continues to strengthen its global footprint while maintaining leadership in quality and customer satisfaction.
About TVS Motor Company
TVS Motor Company is a globally recognised manufacturer of two- and three-wheelers, with a legacy of over 100 years. The company is the only two-wheeler manufacturer to have won the prestigious Deming Prize and has consistently ranked high in J.D. Power customer satisfaction surveys. Its group companies include Norton Motorcycles (UK) and TVS Ebike Company AG (Switzerland), reinforcing its presence in premium and electric mobility segments worldwide.
(Economy India)
