TVS Motor Co.
TVS Motor Co. Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
TVS Motor Company expects to continue its growth trajectory ahead of the industry in FY '25 and FY '26. TVS Motor expects to continue its growth trajectory in FY '25 and beyond, posting the highest operating EBITDA of 11.9%, improving quarter after quarter.
From TVS Motor Co.'s Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- TVS Motor Company expects to continue its growth trajectory ahead of the industry in FY '25 and FY '26.
- Domestic two-wheeler ICE sales grew 5% in Q3, outperforming the industry growth of 1%.
- EV two-wheeler sales grew 57% in Q3, with penetration increasing to around 6%, and further growth expected with new product launches.
- Rural demand is strong, matching or slightly ahead of urban demand, supporting sustained growth.
- The company is optimistic about Q4 and the overall year 2025, expecting good industry performance both domestically and internationally.
- Exports are growing well, with new market entries like Morocco and strong brands like HLX contributing.
2 more points from TVS Motor Co.'s call on revenue
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Profitability & Margins
See what TVS Motor Co. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capex for FY '25 is expected to be around INR 1,300 crores (Page 18).
- Investments predominantly focus on product development for Norton motorcycles and e-cycles (Page 17).
- For FY '25 year-end, investments are projected to be around INR 1,700 crores, forming the foundation for future growth (Page 17).
- Sustained investments planned for Norton product launches spanning FY '25 and '26, with possible extensions into the third year, covering a range of global products (Page 17).
- Additional strategic investments include setting up a new technology hub in Dubai targeting Africa, Middle East, and Europe markets (Page 11).
2 more points from TVS Motor Co.'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
2 more points from TVS Motor Co.'s call on order book
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TVS Motor Co. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹15.1K Cr, net profit ₹820 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What TVS Motor Co.'s management said in earlier quarters
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Frequently Asked Questions
What were TVS Motor Co. Q3 FY25 results?
TVS Motor Company expects to continue its growth trajectory ahead of the industry in FY '25 and FY '26. TVS Motor expects to continue its growth trajectory in FY '25 and beyond, posting the highest operating EBITDA of 11.9%, improving quarter after quarter.
What is TVS Motor Co. share price analysis?
TVS Motor Co. currently shows a neutral. The stock trades at a P/E of 59.1 with a market cap of ₹204,620 Cr. Investors should review the full earnings analysis for detailed insights.
Is TVS Motor Co. planning capital expenditure?
Capex for FY '25 is expected to be around INR 1,300 crores (Page 18).
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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.