TVS Motor Company Ltd — Q2FY27 earnings call summary

Filed 04 November 2026 · Official transcript

Q2 FY27 sales volume grew 27% to 1.9 million units; revenue up 44% to INR17,103 Cr
Pricing increases of ~1.6% vs material cost rise of ~1.9% in Q2; further small hikes expected
Multiple analyst queries on EV capacity and profitability; management confirms improving margins and scale
Industry outlook: single-digit ICE growth, strong EV momentum; TVS confident to outgrow market
Demerger process expected to complete in 8-10 months; shareholders to receive mirror shares in new entity
Board approved demerger of consumer finance business for strategic focus and shareholder value
Capacity expansion underway for EVs to 80,000 units; new product launches planned including Norton models
EBITDA rose 47% to INR2,219 Cr with margin improvement to 13%; PAT grew 52% to INR1,377 Cr