TVS Motor Company

“TVS with the kind of portfolios what we have and the capacity what we are enhancing, we are very confident that we will be ahead of the industry in the forthcoming quarter and in Q4”

“I'm pretty confident that our products will do very well even the next year, financial year.”

“Margin will continue to grow because when the top line is growing, I'm very sure that is going to also fall through into EBITDA journey.”

“And we are confident that we will continue the momentum on our EBITDA journey going forward.”

“Anyway, we have taken a big capacity expansion investment this year as a plan, and that is underway.”

“I think the investments, please understand investment will be predominantly in the area of new product development, if I look at TVS Motor.”

“And fortunately, capacity-wise, we are also enhancing the capacity in Q4.”

“Definitely, we have to look at capacities for next year because market pull in the market is pretty good.”

“On international business, we have recorded highest ever international business sales of 5.39 lakh units, reflecting 35% year-on-year growth.”

“And 3-wheeler, we are also ramping up much faster. You will see much higher growth from TVS in quarter 3 and quarter 4.”

“We also started EV in the international market, and we started last year, and it is doing extremely well. Now in Q2, we have done about 6,930 units.”

“On commercial vehicles, the domestic 3-wheeler ICE plus EV, we grew by 65%.”

“The book size of TVS Credit grew by 22% at INR33,818 crores as against last year's INR27,807 crores.”

“Q2, when we look at the 2-wheeler demand, domestic ICE grew by 16% compared to last year and against an industry growth of 10%.”

“The 2-wheeler international market ICE sales grew by 33% over last year as against industry growth of 27%.”

“2-wheeler domestic EV sales grew by 129% compared to Q2 of last year, and this is against the industry growth of 84%”

“As you know, in Q2, EV penetration of 3-wheelers has come to almost 44%.”

“I just want to highlight the EV penetration in 2-wheelers in September, it has reached 11.6%, okay. And this is only if you look at total 2-wheelers. If you look at only scooters, it is almost 22%.”

“Now it's at 13% during the quarter ended September 2026 as against 12.7% in the quarter ended September 2025.”

“Yes. I think it's about 1.3%, 1.4% of the turnover.”

“Quarter after quarter, it is improving. I think we focus on the margin and margin is improving.”

“Q1 to Q2, the material cost increase was almost 1.9%, and we have increased selling prices by 1.6%.”

“October to December also, we have taken some small increases at the beginning.”

“Yes. The net worth is INR6,500 crores.”

“I don't think we have more than possibly maximum 30 days of stock. Many dealers are less than 21 days of stock, okay.”

“In this regard, I'm delighted to share that the Board of Directors of TVS Motor today have approved a scheme of demerger of the consumer finance and the related business undertaking from TVS Motor.”

“The shareholders of TVS Motor will receive equal number of shares in the resulting company as in TVS Motor”

“which includes the investment in TVS Credit Services and a few other non-core investments of TVS Motor is getting demerged into a separate company and that company will mirror image the shareholding of TVS Motor Company. And both companies will be listed in the same stock exchanges where TVS Motor is now listed today.”

“We are awaiting approvals from the regulatory authorities, and that will get over by March 2027 or April 2027. And this appointed date of demerger is subsequent to that, namely July 2027.”

“It is a secondary purchase of INR711 crores, if I remember right, invested in that.”

“there is a strong operating team here where one of the key roles is to also make sure that there is a succession planning and there is a smooth transition.”

“Just to on the e-bike again, see, the current quarter loss is lower than the previous quarter loss.”

“There are some challenges because the base effect is going to play because last year's September end, you saw the GST getting corrected.”

“this time, the material cost increases are unprecedented, but we also look at the ability of the customer.”

“The loss is again because of the brand-related expenses incurred for Norton and the launch-related costs have slightly gone up from the previous reported quarter.”

“For those businesses, we have curtailed losses, and we will continue to curtail losses going forward.”

“As you know, the scheme is subject to requisite statutory, regulatory shareholder and other approvals as applicable.”

“The sales volume grew from 1.5 million units to 1.9 million units, 27% growth.”

“Revenue grew from INR11,905 crores to INR17,103 crores, 44% growth.”

“EBITDA grew from INR1,507 crores to INR2,219 crores 47% growth.”

“Profit after tax grew from INR 904 crores to INR 1,377 crores, again, 52%”

“Parts revenue is about INR1,314 crores. And export revenue is about INR4,378 crores.”