TVS Motor Company reported Q2 FY2026 revenue of ₹119.05 billion, beating IBES estimates of ₹115.45 billion. Net profit stood at ₹9.06 billion, slightly below expectations. The company flagged short-to-medium-term challenges in magnet availability, impacting electric vehicle production and supply chain efficiency.
TVS Motor Company Ltd has released its financial results for the quarter ended September 2025 (Q2 FY2026), showcasing strong revenue growth but also highlighting supply-side constraints. The company posted ₹119.05 billion in revenue from operations, surpassing the IBES estimate of ₹115.45 billion. However, net profit came in at ₹9.06 billion, marginally below the projected ₹9.24 billion.
Despite the top-line beat, TVS Motor flagged magnet availability as a continuing challenge, particularly affecting its electric vehicle (EV) segment. Magnets are critical components in EV motors, and global supply chain disruptions have led to procurement delays and cost pressures.
The company remains optimistic about demand trends, especially in the premium two-wheeler and EV categories, but cautioned that magnet shortages may persist into the medium term, potentially impacting production schedules.
Major Takeaways:
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Revenue from Operations: ₹119.05 billion vs. ₹115.45 billion estimate
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Net Profit: ₹9.06 billion vs. ₹9.24 billion estimate
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Supply Chain Alert: Magnet availability remains a short-to-medium-term challenge
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EV Impact: Production and delivery timelines may be affected
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Market Sentiment: Investors watch for margin resilience and supply chain recovery
TVS Motor’s performance reflects robust demand but also underscores the importance of securing critical components in a volatile global supply environment.
Sources: Reuters India, Business Standard, LiveMint