TVS Motor Company Ltd
TVS Motor Company Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #5 of 11 in Automobiles
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The short version
TVS Motor expects to continue growing ahead of the industry in both domestic and international markets. TVS Motor anticipates continued growth momentum with top-line expected to outperform the industry in both domestic and international markets.
From TVS Motor Company Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- TVS Motor expects to continue growing ahead of the industry in both domestic and international markets.
- Sales volume grew 23% in Q2 FY26, with a 29% increase in revenue and 40% growth in operating EBITDA.
- The company anticipates an ~8% growth in the two-wheeler ICE segment for Q3 and Q4, supported by GST rationalization and festive season momentum.
- EV segment to grow further, despite magnet supply constraints; iQube and Orbiter launches expected to boost EV business.
- International markets, including Africa, Latin America, and Asia, are showing strong demand and growth potential.
- Invests in new technology, product premiumization, and scaling to drive future revenue and volume growth.
2 more points from TVS Motor Company Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- TVS Motor Company invested INR 550 crores in the recent quarter primarily towards:
- Norton e-bikes product development.
- Setting up a strategic Dubai office to enhance international market presence and deepen customer understanding.
- The company expects total investment for the year to be around INR 1,600-2,000 crores, similar to previous guidance.
- Strategic investments focus on new technology, product launches, brand-building, and expanding global reach.
2 more points from TVS Motor Company Ltd's call on capex
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Top-ranked in Automobiles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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TVS Motor Company Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹19.5K Cr, net profit ₹1.2K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What TVS Motor Company Ltd's management said in earlier quarters
Others in Automobiles this season
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Q2 FY26 Standalone Sales: ₹2,279 crore (Page 34) . Key investor presentation takeaways from Force Motors Ltd's Q2 FY26 investor presentation — and how it ranks
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- Ather Energy Ltd (Q2 FY26)
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- Zelio E-Mobility Ltd (Q2 FY26)
Current capex includes less than INR 3 crores investment in the Odisha plant focused on 2-wheeler assembly. Key concall takeaways from Zelio E-Mobility Ltd's…
Potential multibaggers · Q2 FY27
Potential multibaggers in Automobiles
on management's own guidance
- Strong growth2
- Strong growth1
- M & MGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were TVS Motor Company Ltd Q2 FY26 results?
TVS Motor expects to continue growing ahead of the industry in both domestic and international markets. TVS Motor anticipates continued growth momentum with top-line expected to outperform the industry in both domestic and international markets.
What is TVS Motor Company Ltd share price analysis?
TVS Motor Company Ltd currently shows a neutral. The stock trades at a P/E of 56.2 with a market cap of ₹194,553 Cr. Investors should review the full earnings analysis for detailed insights.
Is TVS Motor Company Ltd planning capital expenditure?
TVS Motor Company invested INR 550 crores in the recent quarter primarily towards: - Norton e-bikes product development.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.