TVS Motor Q3FY26 Results: Revenue Jumps 37% to ₹12,476 Cr

Introduction to TVS Motor's Stellar Quarter

TVS Motor Company has announced a landmark performance for the third quarter of the financial year 2026 (Q3FY26), reporting its highest-ever sales, revenue, and profits. The company's operating revenue witnessed a substantial 37% year-on-year growth, reaching ₹12,476 crores. This financial success was driven by record-breaking sales of 15.44 lakh units, underscoring strong demand across both domestic and international markets. The robust performance reflects the company's strategic focus on product innovation, market expansion, and the growing adoption of its electric vehicle portfolio.

Unpacking the Financial Highlights

The financial results for Q3FY26 showcase significant growth across all key metrics. The operating revenue of ₹12,476 crores is a marked increase from the ₹9,097 crores reported in the same quarter of the previous fiscal year. The company's profitability also saw a remarkable improvement. Operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by 51% to ₹1,634 crores, with the operating EBITDA margin expanding to a peak of 13.1%. Furthermore, Profit Before Tax (PBT), before exceptional items, grew by an impressive 57% to ₹1,315 crores, highlighting enhanced operational efficiency and strong market positioning.

Record-Breaking Sales Volume Across Segments

TVS Motor achieved its highest-ever quarterly sales volume, with a total of 15.44 lakh units sold in Q3FY26. This represents a 27% increase compared to the 12.12 lakh units sold in the corresponding quarter of the previous year. The growth was broad-based, with strong contributions from all vehicle segments.

• Motorcycle Sales: The motorcycle segment grew by 31%, with sales reaching 7.26 lakh units.
• Scooter Sales: Scooter sales increased by 25%, totaling 6.14 lakh units for the quarter.
• Three-Wheeler Sales: The three-wheeler segment delivered exceptional performance, with sales surging by 106% to 0.60 lakh units.

Strong Momentum in International Business

The company's global presence continued to strengthen, with international business showing robust growth. Two-wheeler exports expanded by 35%, reaching 3.66 lakh units in Q3FY26. Total international business, including two-wheelers and three-wheelers, grew by 40% to 4.10 lakh units, reflecting stronger demand across key export markets in over 80 countries where the company operates.

Electric Vehicle Segment Shines

The electric vehicle (EV) segment was a significant growth driver for TVS Motor. The company recorded its highest-ever quarterly EV sales of 1.06 lakh units, marking a 40% increase year-on-year. This performance underscores TVS Motor's successful push into sustainable mobility and the positive market reception for its electric offerings. The momentum was also visible in the monthly figures for December 2025, where EV sales grew by 77% to 35,605 units.

Performance Snapshot: Q3 FY2026

Cumulative Nine-Month Performance Review

For the nine months ending in December 2025, TVS Motor Company sustained its growth trajectory. Operating revenue for this period grew by 29% to ₹34,463 crores. Operating EBITDA increased by 41% to ₹4,406 crores, while PBT rose by 43% to ₹3,594 crores. Total sales volume for the nine-month period reached 43.28 lakh units, a 23% increase compared to the same period last year. This included a 24% growth in motorcycle sales and a 25% rise in scooter sales, with the international two-wheeler business expanding by 35%.

Market Impact and Stock Performance

The strong quarterly results were positively received by the market. On January 2, 2026, following the announcement, the share price of TVS Motor Company opened higher at ₹3,843.00 on the NSE, up from its previous close of ₹3,794.40. The stock continued to trade with positive momentum, reflecting investor confidence in the company's performance and future outlook.

Conclusion and Forward Outlook

TVS Motor Company's record-breaking performance in Q3FY26 demonstrates its robust operational capabilities and strong market acceptance. The significant growth in revenue, profitability, and sales volumes across all segments, particularly in electric vehicles and international markets, positions the company for sustained expansion. With a focus on innovative products and a growing global footprint, TVS Motor is well-equipped to build on this momentum in the coming quarters.