TVS Motor Company Ltd

- TVS Motors has not provided a specific date for the listing of preference shares; the listing is still pending and they are following up with SEBI. - The company has increased its investment guidance to INR 2,900 crores from INR 2,000 crores, indicating ongoing and future investments. - Investments are directed toward Norton (super-premium motorcycle venture), TVS Credit Services, the ION PT TVS project, e-bike business, and international market expansion including Dubai. - Incremental investment in Norton increased by about INR 50-60 crores from the last quarter. - No specific mention of new debt raising in the current documents, but robust investment plans suggest continued capital deployment. - The focus remains on internal funding and strategic investments rather than immediate fresh equity/debt fundraising announcements.

- Capex for the year is around INR 1,700 crores, slightly higher than earlier guidance of INR 1,600 crores, due to capacity expansions in growth areas. - Investments have increased from INR 2,000 crores to INR 2,900 crores. - Additional investments are focused on: - Norton motorcycles business (around INR 290 crores this quarter, up by INR 60 crores from last quarter) - TVS Credit Services (incremental INR 200 crores) - ION project (part of PT TVS) - E-bike business - Strategic investments in Dubai to strengthen international markets - Future investments will continue to focus on product development, international market expansion, and strengthening brand presence. - Capacity for EVs is being reviewed with plans for expansion due to growth potential; details to be shared in upcoming calls.

- Q4 expected to show strong growth, possibly upwards of 15%, continuing the positive momentum from GST benefits. - Full year FY26 volume growth projected around 9%, with strong exit momentum. - Long-term 2-wheeler industry growth expected at 8-9% CAGR. - Export markets like Africa, LatAm, Asia (including Sri Lanka, Nepal) expected to grow well, with TVS aiming to outperform industry growth. - Electric vehicle (EV) volumes and revenues anticipated to grow, supported by improved supply (magnet availability easing) and expanding product portfolio (iQube, TVS Orbiter, TVS King EV). - Scooter category and premium/super-premium segments growing faster than industry average, including rural markets due to better infrastructure and financing. - Scale, product mix improvement, and cost control measures planned to support continued revenue and EBITDA growth. - New product launches (e.g. Norton motorcycles, electric scooters/motorcycles) expected to contribute in 2026.

- TVS Motors is confident of continued growth ahead of the industry driven by strong product portfolio including Apache, Ronin, Jupiter series, iQube, Orbiter, Raider, NTORQ, HLX series, and electric vehicles like TVS King EV. - The company targets accelerated top-line growth leveraging scale benefits and premiumization. - Focus on consistent quarter-on-quarter EBITDA margin improvement and material cost reductions to enhance profitability. - EBITDA margin improved by 120 bps YoY to 13.1% in Q3 FY'26, with a normalized improvement of 70 bps YoY, indicating an improving earnings trajectory. - Electric vehicles (EVs), currently growing fast, are expected to turn EBITDA positive as volumes rise. - The company is investing strategically in new product launches (e.g., Norton motorcycles) and international market expansion, anticipating long-term profitable growth. - No specific earnings or EPS guidance was given, but optimism about sustained strong revenue and profit growth is emphasized.

The transcript does not explicitly mention the current or expected order book or pending orders for TVS Motors Limited. However, relevant related insights include: - Strong demand in the market for TVS products, including newly launched models. (Page 8) - Temporary supply challenges, mainly due to magnet availability affecting EV production, are easing and expected to be resolved within a month. (Page 8) - Proactive capacity investments are underway to meet demand, with plans to increase capacity particularly for EVs under review. (Page 14) - Dealers are encouraged to maintain limited inventory (21-30 days stock) to keep products fresh while supply is balanced with demand. (Page 8) - Export markets, including those for Jupiter scooters, are experiencing robust growth with expansion plans in various international regions. (Page 14) No explicit numeric order book or pending order figures were disclosed.