TVS Motor Company Limited — Investor Meet, 03-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

TVS Motor reported a strong Q3 FY26, achieving record quarterly sales, revenue (up 37% to ₹12,476 Cr), EBITDA (up 51% to ₹1,634 Cr, with margins at 13.1%), and PAT (₹940 Cr). EV 2-wheeler sales surged 40% to 1.06 lakh units, while 3-wheeler sales doubled to 60,000 units.

Management anticipates the 2-wheeler industry will grow over 15% in Q4, with TVS expected to outperform. Growth is driven by robust demand in scooters and premium segments. Commodity cost increases (around 0.4%) are mitigated by scale benefits, product mix, and judicious price adjustments. Total investments for FY26 are projected at ₹2,900 Cr, supporting Norton, TVS Credit, and other strategic projects. The company expresses confidence in sustained growth and EBITDA improvement.