TVS Motor Company

Quick check

The five things to look at first. Open one for more.

• DebtHigh debtIt owes ₹32,791 Cr against ₹9,565 Cr of shareholders' money (Mar 2026), 3.43 times.
• ResultsGrowingIn the Jun 2026 quarter, sales rose 34% and profit rose 65% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 50% of the company, about the same as in Jun 2025.
• ValuationNormal for this stockThe share trades at 54.7 times its yearly earnings (P/E), cheaper than 55% of the time in the last 5 years. Its usual P/E is about 48.

TVS Motor Company against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)54.7 against a typical 23.5: pricier than most peers (1st = cheapest).8th of 11
• Sales growth+33.5% against a typical +34.2% from a year earlier.5th of 8
• Profit growth+64.5% against a typical +21.4% from a year earlier.1st of 5
• Share price, 3 months+0.3% against a typical −5.1%.4th of 11
• Size₹ 1,88,942.2 Cr. market value against a typical ₹ 2,157 Cr. (1st = largest).2nd of 11

Exchange filings and their impact on the company.

• 28 Oct 2026AcquisitionLow impactPositivePrice +3.7% so far today
  TVS Motor to pay Rs 530 cr cash for STPL to add ~2.4% in TVS Credit Services.

  TVS Motor's board on 28 Oct 2026 approved buying 100% of STPL Trading and Services for Rs 530.08 crore in cash, to close by 31 Dec 2026. STPL holds a 7.5% stake in Home Credit India Finance and has net worth of Rs 220.85 crore with negligible turnover. The deal will ultimately give TVS Motor about 2.4% extra holding in TVS Credit Services after Home Credit's merger with it, as part of its finance-business consolidation.

  Full analysisFiling
• 28 Oct 2026AcquisitionMedium impactPositivePrice +3.7% so far today
  TVS Motor to demerge ~11% turnover consumer-finance business into separately listed Harita ARC via 1-for-1 share swap.

  TVS Motor's board on 28 Oct 2026 approved a composite scheme to merge its wholly owned TVS Motor Services into itself and demerge its consumer finance and related lending, investment and leasing business into Harita ARC. The demerged business had turnover of Rs 3,921 crore in the half year to Sep 2026 versus Rs 35,770 crore total. Shareholders will get 1 share of Harita ARC for every 1 TVS Motor share, and Harita ARC will be separately listed, subject to stock exchange, SEBI, NCLT and shareholder approvals.

  Full analysisFiling
• 28 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice +3.7% so far today
  Record Q2 with 44% revenue and 52% profit growth plus 1-for-1 demerger of finance business to unlock value.

  TVS Motor reported its highest-ever quarter in Q2 FY27 with revenue of Rs 17,103 crore up 44%, EBITDA of Rs 2,219 crore up 47% at 13.0% margin, and profit after tax of Rs 1,377 crore up 52% on record sales of 1.9 million units up 27%. The board also approved a composite scheme to merge its wholly-owned TVS Motor Services into itself and demerge its consumer finance and related business with Rs 3,921 crore turnover into Harita ARC, with shareholders getting 1 share of the new company for every 1 share held, which will be separately listed. It also approved buying 100% of STPL Trading and Services for Rs 530.08 crore to add about 2.4% stake in TVS Credit Services, sharpening focus on autos while unlocking value in financial services.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Sudarshan Venu

Executive Chairman of the Board, Managing Director

Venu Srinivasan

Chairman - Emeritus, Managing Director

Kunnath Narayanan Radhakrishnan

Chief Executive Officer, Executive Director

K. Gopala Desikan

Chief Financial Officer

Kelliya Subramania Srinivasan

Company Secretary