TVS Motor Company, part of TVS VENU, reported a 47 per cent increase in consolidated net profit for the second quarter ended September 30, 2026 to ₹1,219 crore as against ₹832 crore in the same quarter last year. Revenue was up 39 per cent to ₹19,474 crore (₹14,051 crore).
The improved performance comes from the third-largest two-wheeler maker (by volume) recording its highest-ever quarterly sale across all the categories in Q2.
The company said it sexpects to continue growing ahead of the two- and three-wheeler industry and has plans to expand its premium motorcycle business under Norton.
On a standalone basis, the company reported 52 per cent increase in net profit to ₹1,377 crore on a 44 per cent increase in revenue to ₹17,103 crore.
Motorcycles sales during the quarter under review grew by 28 per cent y-o-y at 0.9 million units. Scooter sales in Q2 grew by 29 per cent at 0.8 million units. International business, a key growth driver in recent years, reported a 35 per cent growth. Electric two-wheelers continued growth trajectory with sales doubling in Q2 to 186,186 units vis-a-vis 80,009 units in year-ago period. Three-wheelers sales for the quarter under review grew by 47 per cent to 78,475 units.
“All sectors have done much better than the industry in Q2,” K N Radhakrishnan, Managing Director and CEO, said in the analysts call. He expects the domestic 2W and 3W industry to register single-digit growth in the second half due to high base effect of last year. However, TVS Motor will outperform the industry in domestic and international markets, he said.
Radhakrishnan also noted that in the coming months, the company will have a series of launches of the British premium motorcycle brand Norton, with launches across international markets and an eventual entry into India.
The company is establishing dealership networks across Europe, with operations already being set up in the UK, Italy and France, followed by Germany and Spain. Preparations for launches in India and the US are also under way. The company is preparing to scale up Ronin volumes beyond 15,000 units, with capacity expansion to be reviewed based on demand, he added.
Growth outlook
The company is increasing electric two-wheeler production capacity from about 60,000-65,000 units a month to 80,000 units to meet demand for its iQube and Orbiter models. It expects the electric vehicle segment to sustain strong growth even as the industry’s base expands.
TVS Motor is planning to raise its annual two-wheeler production capacity beyond eight million units and three-wheeler capacity to about four lakh units, Radhakrishnan said.
The company’s focus, he added, would remain on expanding volumes, improving product mix, managing commodity costs and strengthening profitability while investing in new products and technologies.
Meanwhile, TVS Holdings Ltd (formerly known as Sundaram-Clayton Ltd) reported a 46 per cent increase in consolidated net profit in Q2’27 to ₹1,286 crore. Revenue was up 39 per cent to ₹20,182 crore (₹14,549 crore).
Published on October 28, 2026
