TVS
TVS Motor roars ahead: Revenue jumps 37%, EV sales hit record high in Q3
Singapore/IBNS: TVS Motor Company’s operating revenue grew by 37% at Rs. 12,476 Crores for the quarter ended December 2025 as against Rs. 9,097 Crores reported in the quarter ended December 2024.
The company’s Operating EBITDA grew by 51% at Rs.1,634 Crores for the third quarter of 2025-26 as against EBITDA of Rs. 1,081 Crores in the third quarter of 2024-25.
The company’s Operating EBITDA margin for the quarter is highest at 13.1% as against normalised Operating EBITDA margin of 12.4% in the third quarter of 2024-25. The Company’s PBT before exceptional items grew by 57% at Rs. 1,315 Crores for the third quarter of 2025-26 as against PBT of Rs. 837 Crores in third quarter of 2024-25.
Sales
The overall two-wheeler and three-wheeler sales including international business grew by 27% registering highest ever quarterly sales of 15.44 Lakh units in the quarter ended December 2025 as against 12.12 Lakh units in the quarter ended December 2024.
Motorcycle sales grew by 31% registering 7.26 Lakh units in the quarter ended December 2025 as against 5.56 Lakh units in the quarter ended December 2024. Scooter sales for the quarter ended December 2025 grew by 25% registering 6.14 Lakh units as against the sales of 4.93 Lakh units in the third quarter of 2024-25.
The two-wheeler sales in international business grew by 35% at 3.66 Lakh units in the quarter ended December 2025 as against 2.72 Lakh units in the quarter ended December 2024. Total three-wheeler sales for the quarter under review grew by 106% at 0.60 Lakh units as against 0.29 Lakh units during the third quarter of 2024-25.
EV sales
During the quarter under review, the Company’s EV sales grew by 40% achieving highest ever quarterly sales of 1.06 Lakh units in the quarter ended December 2025 as against 0.76 Lakh units during quarter ended December 2024.
Cumulative nine months results:
Operating revenue grew by 29% at Rs. 34,463 Crores for nine months ended December 2025 as against Rs. 26,701 Crores for the nine months ended December 2024.
The company’s Operating EBITDA grew by 41% at Rs. 4,406 Crores for nine months ended December 2025 as against EBITDA of Rs. 3,121 Crores for the nine months ended December 2024.
The company’s PBT before exceptional items grew by 43% at Rs. 3,594 Crores for the nine months ended December 2025 as against Rs. 2,517 Crores during nine months ended December 2024. The Company’s PAT for the nine months ended December 2025 is at Rs. 2,625 Crores as against Rs. 1,858 Crores during nine months ended December 2024.
Sales
The company’s two-wheeler and three-wheeler sales including international business grew by 23% registering 43.28 Lakh units in the nine months ended December 2025 as against 35.27 Lakh units registered in the nine months ended December 2024.
Motorcycle sales grew by 24% registering 20.19 Lakh units in the nine months ended December 2025 as against 16.31 Lakh units in nine months ended December 2024. Scooter sales for the nine months ended December 2025 grew by 25% registering 17.52 Lakh units as against the sales of 14.02 Lakh units in the nine months ended December 2024.
The two-wheeler sales in international business grew by 35% at 10.47 Lakh units in the nine months ended December 2025 as against 7.78 Lakh units in the nine months ended December 2024. Total three-wheeler sales is at 1.59 Lakh units for the nine months ended December 2025 as against 0.98 Lakh units during nine months ended December 2024.
Electric vehicles grew by 26% registering sales of 2.56 Lakh units for the nine months ended December 2025 as against 2.03 Lakh units during the nine months ended December 2024.
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