In short: TVS Motor's Q2 FY27 revenue rose 43.7% to ₹17,103 crore from a year earlier, and net profit rose 52.4% to ₹1,377 crore. Operating EBITDA margin was 13.0%, up 20 bps from the previous quarter. The board approved a plan to demerge the consumer finance business into a separate company to be listed, with shareholders getting one share in it for each TVS Motor share.
What changed in TVS Motor's Q2 FY27 results
- Revenue from operations was ₹17,103 crore, up 43.7% from a year earlier and up 23.1% from the previous quarter.
- Net profit was ₹1,377 crore, up 52.4% from a year earlier and up 17.3% from the previous quarter.
- Operating EBITDA was ₹2,219 crore, up 47.2% from a year earlier.
- Operating EBITDA margin was 13.0%, up 20 bps from the previous quarter and up 30 bps from a year earlier.
TVS Motor Q2 FY27 results at a glance
| Metric | Q2 FY27 | Q1 FY27 | Q2 FY26 | QoQ | YoY |
|---|---|---|---|---|---|
| Standalone revenue (₹ crore) | 17,103 | 13,896 | 11,905 | +23.1% | +43.7% |
| Operating EBITDA (₹ crore) | 2,219 | – | 1,507 | – | +47.2% |
| Net profit (₹ crore) | 1,377 | 1,174 | 904 | +17.3% | +52.4% |
| Operating EBITDA margin | 13.0% | 12.8% | 12.7% | +20 bps | +30 bps |
Genvest analysis
Standalone revenue from operations rose 43.7% from a year earlier to ₹17,103 crore, and 23.1% from the June quarter. Net profit rose 52.4% to ₹1,377 crore, and 17.3% from ₹1,174 crore in the June quarter; there were no exceptional items. The year-ago figures are restated for the merger of Sundaram Auto Components, a wholly owned subsidiary, into the company: profit a year earlier is ₹904 crore on the restated basis, against ₹906 crore as first reported.
TVS Motor sold 19,19,005 two- and three-wheelers, 27.3% more than a year earlier and 17.7% more than in the June quarter; the company says it is its highest quarterly sales. Motorcycle sales rose 28% to 8.58 lakh, scooters 29% to 8.25 lakh and mopeds 12% to 1.57 lakh, according to its presentation. Electric two-wheeler sales rose 132.7% to 1,86,186 units, which by our calculation from the filing is 10.1% of its two-wheeler sales, against 5.5% a year earlier. Three-wheeler sales rose 46.8% to 78,475 units, and international business sales of two- and three-wheelers rose 35% to about 5 lakh units. Revenue grew faster than volumes: by our calculation from the filing, revenue from operations per vehicle sold rose 12.8% to about ₹89,100.
Operating EBITDA rose 47.2% to ₹2,219 crore, and its margin widened 30 bps to 13.0% from 12.7% a year earlier; it was 12.8% in the June quarter. By our calculation from the filing, material costs rose to 73.0% of revenue from 71.1% a year earlier, while employee costs fell to 4.7% from 5.1% and other expenses to 9.3% from 11.2%. From the June quarter, profit grew less than revenue (17.3% against 23.1%): other income fell to ₹45 crore from ₹151 crore, and finance costs rose to ₹124 crore, from ₹76 crore in June and ₹47 crore a year earlier. In the quarter the company raised ₹1,500 crore through debentures, and on 1 September it redeemed its 6% preference shares for ₹2,014 crore, including dividend.
Consolidated net profit attributable to shareholders rose 50.2% to ₹1,195 crore, below the standalone ₹1,377 crore, on revenue up 38.6% to ₹19,474 crore. The consolidated operating margin was 11.3%, against 11.7% a year earlier. The financial segment, which covers consumer finance, had a segment profit before tax and finance cost of ₹351 crore, up 42.3% from a year earlier but down from ₹431 crore in June.
The board approved a scheme to demerge the consumer finance and related business into Harita ARC Limited, a wholly owned subsidiary whose shares are to be listed on the stock exchanges. Shareholders will get one Harita ARC share for each TVS Motor share. The business's turnover in the first half was ₹3,921 crore, 11.0% of the consolidated ₹35,770 crore. The scheme also merges TVS Motor Services, another wholly owned subsidiary, into TVS Motor, and needs approval from the stock exchanges, SEBI, the National Company Law Tribunal, shareholders and creditors. Separately, the board approved buying STPL Trading and Services, which holds 7.5% of Home Credit India Finance, for ₹530 crore, which the company says will add about 2.4% to its holding in TVS Credit Services after a planned merger.
What TVS Motor's results mean for fund investors
- Auto and transportation funds. Carmakers, two-wheeler makers and auto-parts companies make up most of these funds, so results days move them more than diversified equity funds.
- Index funds. The Nifty Auto index is made up of vehicle and auto-parts makers, and the largest of them are also in the Nifty 50, so index funds tracking either hold the company in proportion to its weight.
- Overlap. If you hold several auto funds, or vehicle-maker shares alongside them, check how concentrated you are with the portfolio analyzer.
TVS Motor Q2 FY27 results: questions
When did TVS Motor announce Q2 FY27 results?
TVS Motor announced its Q2 FY27 results on 28 October 2026.
What was TVS Motor's Q2 FY27 net profit?
Net profit was ₹1,377 crore, up 52.4% from a year earlier and up 17.3% from the previous quarter.
What was TVS Motor's Q2 FY27 revenue?
Revenue from operations was ₹17,103 crore, up 43.7% from a year earlier and up 23.1% from the previous quarter.
Other auto Q2 FY27 results
- Bajaj Auto Q2 FY27 results · 27 October 2026 · net profit +35.2% YoY
- Maruti Suzuki Q2 FY27 results · 27 October 2026 · net profit −26.9% YoY
- Hyundai Motor India Q2 FY27 results · 28 October 2026 · net profit −24.3% YoY
- TVS Motor Q2 FY27 results · 28 October 2026 · net profit +52.4% YoY
All auto Q2 FY27 results in one place
Sources
- TVS Motor: Q2 FY27 results and board meeting outcome, 28 October 2026
- TVS Motor: Q2 FY27 press release and presentation, 28 October 2026
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