TVS Motor Company seems to have discovered a new gear in FY2025-26 — and it’s not slowing down anytime soon. The Bengaluru-based two and three-wheeler giant has reported its highest-ever annual revenue of ₹47,270 crore, registering a robust 30% growth compared to ₹36,251 crore in FY2024-25. In simpler terms, TVS had the kind of year where even its spreadsheets probably needed better suspension.
The company also clocked a 40% rise in Operating Profit Before Tax (PBT), which stood at ₹4,975 crore for the financial year ended March 2026, up from ₹3,563 crore in the previous fiscal. Operating EBITDA margin improved to 12.9%, gaining 60 basis points over last year, indicating that TVS isn’t just selling more vehicles — it’s making more money from each one too.
What truly powered this growth was sales momentum across motorcycles, scooters, EVs, and three-wheelers. TVS sold a record 58.89 lakh two and three-wheelers during FY26, marking a 24% jump over the 47.44 lakh units sold last year.
Motorcycles remained a strong pillar for the company, with annual sales climbing 24% to 27.13 lakh units. Scooters, meanwhile, continued their blockbuster run with a 27% increase in sales to 24.13 lakh units. Somewhere in India, a Jupiter owner probably nodded proudly while reading this headline.
The electric mobility segment also delivered a strong performance for TVS. EV sales grew by 33% to 3.71 lakh units in FY26 compared to 2.79 lakh units last year. The company stated that it now has over 9 lakh EV customers, proving that India’s electric revolution increasingly has a TVS badge attached to it.
Three-wheelers emerged as one of the fastest-growing categories for the company. Sales surged 63% to 2.19 lakh units, compared to 1.35 lakh units in FY25. Clearly, the humble three-wheeler is having a rather glamorous comeback.
TVS Motor also rewarded shareholders generously during the year. The company declared an interim dividend of ₹12 per equity share, translating into a payout of ₹570 crore. Additionally, it allotted four fully paid bonus Non-Convertible Redeemable Preference Shares (NCRPS) for every equity share held, amounting to ₹1,900 crore.
Quarterly performance was equally impressive. In Q4 FY26, TVS reported its highest-ever quarterly revenue of ₹12,808 crore. Operating EBITDA margin stood at 13.1%, compared to a normalized margin of 12.5% in Q4 FY25, reflecting another 60 basis point improvement year-on-year.
The company clarified that Q4 FY25 numbers included Production Linked Incentive (PLI) benefits related to the full year, which had inflated margins during that quarter. Excluding that effect, normalized Q4 revenue in FY26 actually grew by a massive 36%, making the latest quarterly performance even more remarkable.
With strong momentum across petrol scooters, motorcycles, EVs, and commercial mobility, TVS Motor appears to be balancing tradition and transition rather effectively. In a market where manufacturers are racing toward electrification while still protecting their core business, TVS seems to have found the sweet spot — and perhaps a slightly sportier exhaust note too.
