TVS Motor Company reported strong financial performance for the second quarter of FY27, with standalone profit after tax (PAT) increasing 52% year-on-year to ₹1,377 crore. Standalone revenue rose 44% to ₹17,103 crore, supported by record quarterly vehicle sales and strong demand for electric two-wheelers.
The company announced its results on October 28, 2026, reporting growth in revenue, profitability and vehicle volumes for the quarter ended September 30, 2026. Its EBITDA also reached a record ₹2,219 crore during the quarter.
TVS Motor Q2 Results : Key Financial Highlights
- Standalone revenue: ₹17,103 crore, up 44% year-on-year.
- Standalone profit after tax: ₹1,377 crore, up 52% year-on-year.
- EBITDA: ₹2,219 crore, up 47% year-on-year.
- EBITDA margin: 13%, compared with 12.7% in Q2 FY26.
- Quarterly vehicle sales: Approximately 1.9 million units, up 27% year-on-year.
- Electric two-wheeler sales: 186,186 units, up 133% year-on-year.
Source: TVS Motor Company’s official Q2 FY27 press release.
Revenue and Profitability Show Strong Growth
TVS Motor’s standalone revenue increased to ₹17,103 crore in Q2 FY27 from ₹11,905 crore in the corresponding quarter of the previous financial year, reflecting year-on-year growth of 44%.
Standalone PAT rose to ₹1,377 crore from ₹904 crore a year earlier, an increase of approximately 52%. The improvement in profitability accompanied higher vehicle sales and stronger operating performance.
The company’s EBITDA increased 47% to ₹2,219 crore, compared with ₹1,507 crore in Q2 FY26. EBITDA margin improved by 30 basis points to 13%, from 12.7% in the year-ago quarter.
Vehicle Sales Reach a Quarterly Record
TVS Motor recorded its highest-ever quarterly sales of approximately 1.9 million two- and three-wheelers during Q2 FY27. Overall sales increased 27% compared with approximately 1.5 million units in the corresponding quarter last year.
The company’s key vehicle categories also recorded growth:
- Motorcycles: Sales rose 28% to approximately 0.9 million units.
- Scooters: Sales increased 29% to approximately 0.8 million units.
- Three-wheelers: Sales grew 47% to 78,475 units, compared with 53,449 units a year earlier.
The increase in vehicle volumes contributed to the company’s record quarterly revenue.
Electric Two-Wheeler Sales Surge 133%
Electric vehicles were a significant growth driver for TVS Motor during the quarter. Electric two-wheeler sales increased 133% to 186,186 units, compared with 80,009 units in Q2 FY26.
The sharp increase highlights the growing contribution of electric mobility to the company’s sales mix. The performance also comes amid rising competition in India’s electric two-wheeler market.
International Business Records Growth
TVS Motor’s international business reported 35% year-on-year growth, with sales reaching approximately 0.5 million units during Q2 FY27, compared with approximately 0.4 million units in the year-ago quarter.
For the first half of FY27, international two- and three-wheeler sales increased 34% to approximately 1.0 million units, compared with 0.8 million units in the first half of FY26.
H1 FY27 Performance
TVS Motor continued to record growth during the first six months of FY27.
- Revenue: ₹30,999 crore, up 41% year-on-year from ₹21,986 crore.
- Profit before tax: ₹3,454 crore, up 52% from ₹2,274 crore.
- Two-wheeler sales: Approximately 3.4 million units, up 27%.
- Three-wheeler sales: 145,172 units, compared with 98,427 units in the year-ago period.
The first-half performance reflects higher vehicle volumes and continued growth in the company’s domestic and international businesses.
Corporate Restructuring and Acquisition Updates
Alongside its quarterly results, TVS Motor announced plans involving the restructuring of its financial-services businesses, including a proposed demerger of its consumer-finance business into a separately listed entity. The proposed arrangement remains subject to applicable shareholder, regulatory and other approvals.
The company also disclosed acquisition-related decisions, including the proposed acquisition of the entire stake in STPL Trading and Services Private Limited for approximately ₹530.08 crore. These corporate developments are separate from the quarterly financial performance.
Conclusion
TVS Motor Company delivered strong standalone Q2 FY27 results, with revenue increasing 44% to ₹17,103 crore and profit after tax rising 52% to ₹1,377 crore. Record quarterly vehicle sales, a 133% increase in electric two-wheeler sales and improved EBITDA margins were the key highlights.
Going forward, vehicle demand, electric two-wheeler growth, international sales and the execution of the proposed corporate restructuring will remain important developments to track.
Source: TVS Motor Company’s official Q2 FY27 press release and stock-exchange filings.
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