TVS Motor Company continues to strengthen its position as one of India’s leading two- and three-wheeler manufacturers

With a combination of strong volume growth, premiumisation, improving profitability and a rapidly scaling EV business. The company delivered an exceptional Q1 FY27, recording its highest-ever quarterly revenue of ₹13,896 crore, up 38% YoY. EBITDA increased 41% to ₹1,779 crore, while EBITDA margin improved to 12.8%. PAT surged 51% to ₹1,174 crore, highlighting strong operating leverage and earnings growth. The growth is broad-based. Q1 total two- and three-wheeler sales reached a record 16.31 lakh units, up 28% YoY. International sales grew 33%, providing an additional growth engine beyond the domestic market. The EV business is becoming a major catalyst. EV sales jumped 86% YoY to 1.30 lakh units in Q1 FY27, while July 2026 EV sales surged an impressive 158% YoY to 60,934 units. This indicates accelerating adoption and improving scale in TVS’s electric portfolio. FY26 also demonstrated the underlying strength of the business: revenue reached a record ₹47,270 crore, up 30%, while operating PBT grew 40%. Total two- and three-wheeler sales increased 24% to 58.89 lakh units. With strong brands, premiumisation, EV expansion, international growth and improving margins, TVS Motor appears well positioned for sustained earnings growth. The combination of volume expansion and operating leverage makes the stock structurally bullish from a long-term perspective. Bullish view; investors should still consider valuation, competition, commodity prices and broader market risks before investing.