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TVS Holdings Q2 FY27 results: net profit up 179.4% to ₹2,459 crore, revenue up 156.1%
TVS Holdings Limited reported consolidated revenue of ₹37,259 crore and a net profit of ₹2,459 crore for Q2 FY27. Revenue rose 156.1% from the year-ago quarter, while basic EPS increased to ₹615.38 from ₹218.89; profit margin was 6.6%, up 0.6 percentage points year on year.
Key points
- Consolidated revenue was ₹37,259 crore in Q2 FY27, up ₹22,710 crore or 156.1% from Q2 FY26.
- Net profit was ₹2,459 crore, up ₹1,579 crore or 179.4% from the year-ago quarter.
- Basic EPS rose to ₹615.38 from ₹218.89, while profit margin increased to 6.6% from 6.0%.
- Automotive revenue was ₹31,929 crore and EBIT was ₹2,885 crore; Financial revenue was ₹5,603 crore and EBIT was ₹1,071 crore.
- The stock closed 2.3% above its pre-results close on the reaction day, versus a 0.9% median move for the industry.
How did TVS Holdings perform in Q2 FY27?
TVS Holdings reported consolidated revenue of ₹37,259 crore for Q2 FY27, compared with ₹14,549 crore in Q2 FY26 and ₹17,076 crore in Q1 FY27. The increase was ₹22,710 crore, or 156.1%, year on year and ₹20,183 crore, or 118.2%, from the previous quarter. The board approved the unaudited, limited-reviewed standalone and consolidated results on 28 October 2026.
Consolidated net profit was ₹2,459 crore, against ₹880.08 crore in Q2 FY26 and ₹1,173.58 crore in Q1 FY27. Basic EPS was ₹615.38, compared with ₹218.89 a year earlier and ₹301.62 in the previous quarter. Profit margin was 6.6%, up 0.6 percentage points from Q2 FY26 but down 0.3 percentage points from Q1 FY27; EBITDA and EBITDA margin were not reported.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 37,259 | 17,076 | 14,549 | +156.1% | +118.2% |
| Other income | 81.02 | 6.74 | 12.88 | +529.0% | +1102.1% |
| Total expenses | 33,637 | 15,376 | 13,268 | +153.5% | +118.8% |
| Profit before tax | 3,703 | 1,707 | 1,294 | +186.2% | +117.0% |
| Tax | 1,225 | 518.94 | 401.65 | +205.1% | +136.1% |
| Net profit | 2,459 | 1,174 | 880.08 | +179.4% | +109.6% |
| EPS (₹) | 615.38 | 301.62 | 218.89 | +181.1% | +104.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in TVS Holdings' costs and profit?
Total expenses rose ₹20,369 crore, or 153.5%, to ₹33,637 crore from Q2 FY26, below revenue growth of 156.1%. Employee benefit expenses increased ₹1,931 crore, or 163.1%, to ₹3,115 crore; finance costs rose ₹819.82 crore, or 125.9%, to ₹1,471 crore; and depreciation and amortisation expenses increased ₹412.96 crore, or 121.2%, to ₹753.74 crore.
Other expenses rose ₹2,731 crore, or 115.8%, to ₹5,090 crore from ₹2,359 crore in the year-ago quarter. Other income increased ₹68.14 crore, or 529.0%, to ₹81.02 crore from ₹12.88 crore. The consolidated result had no exceptional item, while profit before tax rose ₹2,409 crore, or 186.2%, to ₹3,703 crore.
Tax expense increased ₹823.80 crore, or 205.1%, to ₹1,225 crore from ₹401.65 crore. Net profit rose ₹1,579 crore, or 179.4%, to ₹2,459 crore, and profit attributable to owners rose ₹802.17 crore, or 181.1%, to ₹1,245 crore. Against Q1 FY27, total expenses were higher by ₹18,261 crore, other income was higher by ₹74.28 crore and tax was higher by ₹706.51 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 3,115 | 1,184 | +1,931 | +163.1% |
| Finance costs | 1,471 | 651.35 | +819.82 | +125.9% |
| Depreciation | 753.74 | 340.78 | +412.96 | +121.2% |
| Other expenses | 5,090 | 2,359 | +2,731 | +115.8% |
| Total expenses | 33,637 | 13,268 | +20,369 | +153.5% |
| Other income | 81.02 | 12.88 | +68.14 | +529.0% |
| Tax | 1,225 | 401.65 | +823.80 | +205.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹76,993.98 crore as on 30 September 2026, compared with ₹64,007.67 crore on 31 March 2026. Total equity rose to ₹14,178.08 crore from ₹12,892.12 crore, while cash increased to ₹6,674.83 crore from ₹4,621.38 crore and inventories rose to ₹3,030.64 crore from ₹2,459.2 crore. Borrowings were not reported in the provided data.
In H1 FY27, operating cash flow was negative ₹392.45 crore, compared with ₹1,208.97 crore in H1 FY26. Investing cash flow was negative ₹5,446.32 crore, compared with negative ₹1,614.23 crore, while financing cash flow was ₹7,892.22 crore against ₹842.31 crore. Capital expenditure was ₹2,335.62 crore in H1 FY27, up from ₹1,611.8 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 76,994 | 64,008 |
| Total equity | 14,178 | 12,892 |
| Cash and equivalents | 6,675 | 4,621 |
| Inventories | 3,031 | 2,459 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −392.45 | 1,209 |
| Cash from investing | −5,446 | −1,614 |
| Cash from financing | 7,892 | 842.31 |
| Capital expenditure | 2,336 | 1,612 |
Source: Company's results filing (XBRL).
How has TVS Holdings done over the last 8 quarters?
Revenue increased in each of the last eight quarters on a year-on-year basis and rose to a series high of ₹37,258.71 crore in Q2 FY27 from ₹17,076.18 crore in Q1 FY27. Net profit also increased year on year in each of the last eight quarters, reaching ₹2,459.26 crore after ₹1,173.58 crore in the previous quarter. The earlier low in the reported series was ₹11,458.91 crore of revenue in Q3 FY25 and ₹643.96 crore of profit in Q4 FY25.
Which businesses drove the quarter?
Automotive revenue was ₹31,928.96 crore in Q2 FY27, with EBIT of ₹2,885.39 crore and an EBIT margin of 9.0%. The filing did not provide the year-ago segment revenue or EBIT figures needed for a direct comparison. Financial revenue was ₹5,603.36 crore, with EBIT of ₹1,071.19 crore and an EBIT margin of 19.1%; no year-ago comparison was provided for this segment.
Others reported revenue of ₹0.0 crore and EBIT of ₹0.0 crore, compared with revenue of ₹0.0 crore and EBIT of ₹0.0 crore in the year-ago quarter. No growth rate or EBIT margin was reported for the segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| a) Automotive | 31,929 | 2,885 | 9.0% | |
| b) Financial | 5,603 | 1,071 | 19.1% | |
| c) Others | 0 | 0 |
Source: Company's results filing (XBRL segment data).
How did TVS Holdings shares react?
Earlier reaction-day moves were 4.5% on 21 July 2026, 0.5% on 13 May 2026 and 6.3% on 28 January 2026. The move was 0.1% on 31 July 2025, 6.0% on 28 January 2025 and negative 2.0% on 23 October 2024. The latest reaction-day move was lower than the 4.5% and 6.3% gains in the two immediately preceding listed results reactions.
| After the filing | Stock | Investment Company median |
|---|---|---|
| 5 minutes | −1.1% | |
| 15 minutes | −1.8% | |
| 30 minutes | −2.3% | |
| Reaction day | +2.3% | +0.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 21 July 2026 | +4.5% |
| 13 May 2026 | +0.5% |
| 28 January 2026 | +6.3% |
| 31 July 2025 | +0.1% |
| 28 January 2025 | +6.0% |
| 23 October 2024 | −2.0% |
| 8 August 2024 | +3.2% |
| 9 May 2024 | −2.3% |
Source: MarketPing price-reaction measurement.
How did other Investment Company companies do?
Twenty other Investment Company companies had filed for the quarter by 4 November 2026, with a median revenue growth of 25.8%. Of the peers for which profit was compared, 17 reported higher profit. Eighteen peers grew revenue more slowly than TVS Holdings, while two grew faster.
| TVS Holdings revenue growth (YoY) | +156.1% |
|---|---|
| Median of 20 other Investment Company companies | +25.8% |
| Companies with slower revenue growth than TVS Holdings | 18 of 20 |
| Companies with faster revenue growth than TVS Holdings | 2 of 20 |
| Companies whose net profit rose | 17 of 22 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was TVS Holdings' revenue in Q2 FY27?
Revenue from operations was ₹37,259 crore, up 156.1% from ₹14,549 crore in Q2 FY26 (consolidated).
Did TVS Holdings make a profit in Q2 FY27?
Yes. Net profit was ₹2,459 crore, against a net profit of ₹880.08 crore in Q2 FY26.
What was TVS Holdings' EPS in Q2 FY27?
Basic earnings per share were ₹615.38, against ₹218.89 in Q2 FY26.
How did TVS Holdings shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.3% from the previous close; the median Investment Company stock moved +0.9%.
When did TVS Holdings announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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