TVS Supply

Q3 FY26

TVS Supply Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹135

Market cap₹5.4K Cr

P/E75.6

Updated26 Aug 2026

Read4 min read

The short version

TVS Supply Chain Solutions targets double-digit revenue growth, focusing on both ISCS and GFS segments. TVS Supply Chain Solutions aims for continued double-digit revenue growth driven by strong new business wins and pipeline across India, Europe, and North America.

From TVS Supply's Q3 FY26 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

TVS Supply Chain Solutions targets double-digit revenue growth, focusing on both ISCS and GFS segments.
FY '27 outlook remains positive, with the company confident about achieving a 4% PBT margin.
Strong and diversified sales pipeline of approximately INR6,300 crores supports revenue visibility.
Growth in the ISCS segment is expected from India, Europe, and North America.
GFS segment saw significant volume growth in Q3 FY26 (ocean freight up ~29.6%, air freight up ~18.7% YoY) and is anticipated to revive in FY '27 as macroeconomic conditions improve.
New customer additions in ISCS (hundreds) and GFS (thousands) sectors are expected.
Acquisition of Swamy & Sons strengthens presence in the Indian FMCG supply chain, expected to add INR200 crores revenue with accretive margins.
Overall momentum and disciplined execution are driving sustained revenue growth.

Profitability & Margins

TVS Supply Chain Solutions aims for continued double-digit revenue growth driven by strong new business wins and pipeline across India, Europe, and North America.
The company targets a 4% profit before tax (PBT) margin in FY27 as a key aspirational goal, supported by margin expansion initiatives.
Project One cost-saving initiatives are expected to deliver annualized savings of INR100-120 crores, enhancing profitability.
The recent acquisition of Swamy & Sons is accretive on EBITDA and PBT, expanding presence in FMCG and consumption-led supply chains in India.
Management expects sustained margin improvement at both adjusted EBITDA and PBT levels through disciplined execution and improved business mix.
Growth momentum in ISCS and volume upticks in Global Forwarding Solutions (GFS) are likely to drive operating earnings growth.
Cash generation and revenue visibility are set to improve with a strong diversified business pipeline.

See what TVS Supply said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex spending is about 1.1% of revenue and expected to continue at this level, primarily for new projects as in previous years.
No concrete plans for large organic capex or inorganic spend currently, other than the recent acquisition of Swamy & Sons.
Acquisition of Swamy & Sons is a key inorganic strategic investment to strengthen presence in FMCG and consumption-led supply chain space in India; fully funded through internal accruals and expected to be EBITDA, PBT, and ROCE accretive.
The company continues to look for inorganic opportunities and will inform stakeholders if any material deals materialize.
Capital allocation remains primarily focused on the ISCS business, especially on reviving the Europe business and investing in India operations.

Fundraising & Capital Structure

No concrete plans for large organic capex or inorganic spend beyond current activities.
Capex is about 1.1% of revenue, expected to continue at a similar level for new projects.
The recently announced acquisition of Swamy & Sons is fully funded through internal accruals.
The company continues to look at inorganic opportunities and will inform stakeholders if anything materializes.
No explicit mention of new fundraising through debt or equity in the discussed quarters.
Debt as of September 30 was about INR 850 crores (excluding lease liabilities), with no indication of plans to increase this substantially.

See what TVS Supply said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The overall order pipeline stands strong at approximately INR 6,300 crores, providing clear revenue visibility for the coming quarters.
Revenue from new business wins in Q3 FY26 was over INR 319 crores, representing 13% of Q3 FY25 revenue.
For the first 9 months of FY26, revenue from new business wins totaled INR 683 crores, about 9.1% of the 9-month FY25 revenue.
The company maintains a healthy and diversified funnel of opportunities across India, Europe, and North America.
The pipeline spans both segments: Integrated Supply Chain Solutions (ISCS) and Global Forwarding Solutions (GFS).
The focus remains on strong business development and converting pipeline into sustained revenue growth.

TVS Supply — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹3.0K Cr, net profit ₹18 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were TVS Supply Q3 FY26 results?

What is TVS Supply share price analysis?

TVS Supply currently shows a neutral. The stock trades at a P/E of 75.6 with a market cap of ₹5,358 Cr. Investors should review the full earnings analysis for detailed insights.

Is TVS Supply planning capital expenditure?

Capex spending is about 1.1% of revenue and expected to continue at this level, primarily for new projects as in previous years.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.