TVS Supply Chain FY26 revenue tops ₹11,003 crore

Results snapshot: revenue milestone and profitability turnaround

TVS Supply Chain Solutions Ltd (NSE: TVSSCS, BOM: 543965) reported a turnaround year in FY26, with consolidated revenue from operations crossing the ₹11,000 crore mark. The company said FY26 revenue stood at ₹11,003 crore, up 10.1% year-on-year from ₹9,996 crore in FY25. Profitability improved sharply, with adjusted profit before tax (PBT) before exceptional items rising to ₹99.3 crore from ₹37.3 crore in FY25. The company also reported that consolidated net profit for FY26 was ₹117 crore, compared with a loss of ₹9.6 crore in FY25. Management attributed the improvement to stronger execution, operational performance, and cost-efficiency measures alongside growth in India.

How FY26 unfolded across regions and operations

Management commentary described FY26 as a “strong turnaround year”, supported by broad-based growth across regions and customer segments. The company flagged strong performance in India and a turnaround in Europe, aided by new business wins and disciplined cost initiatives. It also noted contributions from North America through new large projects. Alongside the revenue growth, the company reported operating cash generation of about ₹243 crore for the year, linking it to improved profits and working capital efficiency across regions. The company’s reported PBT for the full year was stated at ₹274.1 crore, including an “inward gain” of ₹177.2 crore in Q1.

Q4 FY26: first ₹3,000 crore quarter

In the March quarter (Q4 FY26), TVS Supply Chain Solutions reported consolidated revenue of ₹3,032 crore, up 21.3% year-on-year and 11.7% sequentially. The company said this was the first time it crossed ₹3,000 crore of quarterly revenue. India remained a key growth engine in the quarter, with India business revenue growing 31.4% year-on-year. The company also reported Q4 PAT of ₹18.4 crore versus a loss of ₹3.9 crore in Q4 FY25.

On profitability metrics, the company reported adjusted EBITDA of ₹222 crore in Q4 FY26, with a 7.3% margin, up 37.5% year-on-year. Adjusted PBT for Q4 FY26 was reported at ₹30.9 crore, with the company also highlighting that adjusted PBT before exceptional items increased 72.1% year-on-year for the quarter.

ISCS segment: steady full-year growth, strong Q4 momentum

The Integrated Supply Chain Solutions (ISCS) segment led the scale of operations in FY26. For the full year, ISCS segment revenue was reported at ₹8,238.9 crore, reflecting 9.6% growth compared with ₹7,514.9 crore in FY25. In Q4 FY26, ISCS segment revenue was reported at ₹2,283.4 crore, compared with ₹1,943.4 crore in Q4 FY25 and ₹1,979.5 crore in Q3 FY26. The company described Q4 ISCS growth as 17.5% year-on-year and 15.4% sequentially, supported by revenue from new business and improved profitability.

The company also stated that ISCS performance in Europe improved, aided by new business wins and cost initiatives. It additionally reported that the ISCS business saw Q4 adjusted EBITDA margin improvement from 8.5% to 9.3% on a year-on-year basis.

GFS segment: growth driven by India volumes

The Global Forwarding Solutions (GFS) segment reported double-digit growth for FY26. Full-year GFS segment revenue was ₹2,764.1 crore, up 11.4% from ₹2,480 crore in FY25, driven by strong volume growth in India and new customer wins. In Q4 FY26, GFS segment revenue was ₹748.8 crore, compared with ₹555.4 crore in Q4 FY25 and ₹736.3 crore in Q3 FY26. The company linked the Q4 year-on-year growth of 34.8% largely to growth in ocean freight volumes in India.

Management also acknowledged disruptions in trade routes, while noting that the India GFS business showed strong growth despite the broader challenges.

New business wins: quarterly record and full-year pipeline

TVS Supply Chain Solutions reported new business wins of ₹1,206.7 crore for the year, and described this as 12.1% of FY25 revenue. For Q4 FY26, the company recorded new business wins of ₹523.7 crore (also cited as ₹524 crore), which it said was an all-time high for a quarter. The company also highlighted onboarding of 9 new Fortune 500 clients during the period, taking the total to 100.

In its commentary, management said the order pipeline and quarterly wins provide visibility, tying momentum to deeper customer engagement and demand across sectors.

Key financial data table

Earnings call and upcoming investor focus

The company scheduled an earnings conference call for May 26, 2026, from 9:00 AM to 10:00 AM IST, to review Q4 and FY26 audited results. For investors, the reported data points likely to remain in focus include sustained India-led volume growth in GFS, the pace of ISCS execution across regions, and whether cash generation continues alongside profitability improvements. Management’s emphasis on disciplined cost initiatives and execution suggests operational levers remain central to the story, alongside the conversion of the order pipeline into revenue.

Conclusion

TVS Supply Chain Solutions’ FY26 results show revenue growth to ₹11,003 crore and a marked improvement in profitability, with adjusted PBT rising to ₹99.3 crore and PAT turning positive at ₹117 crore. Q4 FY26 also stood out as the first ₹3,000 crore quarter, supported by segment growth and record new business wins. The next near-term checkpoint is the May 26, 2026 earnings call, where management is expected to discuss the audited numbers and business momentum across ISCS and GFS.