TVS Motor Company Ltd — Q1FY27 earnings call summary

Filed 28 July 2026 · Official transcript

Q1 FY27 sales volume grew 28% to 1.63 million units; revenue up 38% to INR 13,896 Cr
FY27 outlook: double-digit growth in ICE, strong EV momentum; Q2 expected to improve on Q1
Export revenue INR 3,634 Cr in Q1; exports contribute ~26% of turnover, expected to grow
EBITDA margin improvement driven by product mix, cost reduction, and scale benefits
International sales grew 33%, driven by Africa, LATAM, and Asia; capacity expansion ongoing
EV capacity rising from 40k to 50k units; 3W capacity from 20k to 30k units
Commodity cost increase ~3.5% in Q1; price hikes of 1.5% in Q1 and 0.5% planned in Q2
Operating EBITDA rose 41% to INR 1,779 Cr; EBITDA margin improved 30 bps to 12.8%