TVS Holdings results, quarter to Sep 2026

NSE: TVSHLTDBSE: 520056FinanceSmall Cap

TVS Holdings Limited · Formerly Sundaram Clayton · Face value ₹5 · Listed Mar 1988 on BSE, Jul 2010 on NSE

₹12,194.00₹345.00 (2.91%)BSE ₹12,190.45

Share price at the NSE close on 29 Oct 2026. Previous close ₹11,849.00.

29 Oct: open ₹11,799.00, high ₹12,479.00, low ₹11,433.00

52-week range of traded prices to 29 Oct 2026

₹10,790.00Low, 26 Oct 2026₹16,297.00High, 18 Nov 2025

Market cap: ₹24,671 Cr274th largest listed
P/E: 11.41
P/B: 3.68
Dividend yield: 0.71%
ROE: 35.4%
ROCE: 15.5%
Debt to equity: 3.21
Volume, NSE: 21,60333.4% delivered

TVS Holdings filed its results for the quarter to Sep 2026, consolidated: the company and its subsidiaries together.

Results for the quarter to Sep 2026

₹ crore.TVS Holdings annual results and balance sheet

Revenue: ₹20,183 Cr+38.7% on a year ago · +18.2% on the quarter before
Operating profit: ₹3,057 Cr+34.5% on a year ago · +9.6% on the quarter before
Net profit: ₹1,286 Cr+46.1% on a year ago · +9.6% on the quarter before
Earnings per share: ₹313.76+43.3% on a year ago · +4.0% on the quarter before
Operating margin: 15.1%
Net margin: 6.4%

From revenue to net profit, ₹ crore

Revenue20,183
Materials and goods−12,744
Employee costs−1,631
Other expenses−2,750
Operating profit3,057
Depreciation−373
Other income+74
Finance costs−763
Profit before tax1,996
Tax−707
Joint ventures−4.1
Net profit1,286

TVS Holdings results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Sep 2026. Results for the quarter to Dec 2026 are due by 14 Feb 2027, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit

Peak revenue ₹20,183 Cr, quarter to Sep 2026; lowest ₹9,996 Cr, quarter to Dec 2023

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Dec 2021Q3	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024Filed 10 May	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4Filed 28 Apr	Jun 2025Q1	Sep 2025Q2Filed 28 Oct	Dec 2025Q3	Mar 2026Q4	Jun 2026Q1Filed 21 Jul	Sep 2026worked out
Revenue from operations	6,916	6,902	7,666	8,963	8,475	8,460	9,468	10,473	9,996	10,125	10,476	11,554	11,459	11,800	12,742	14,549	15,276	15,588	17,076	20,183
	6,106	5,998	6,705	7,811	7,428	7,372	8,222	9,113	8,461	8,578	8,965	9,860	9,611	9,892	10,730	12,276	12,812	13,173	14,287	17,125
Materials and goods bought	4,566	4,468	4,984	5,887	5,346	5,306	5,853	6,737	6,098	6,178	6,298	7,082	6,858	6,975	7,499	8,733	9,134	9,528	10,463	12,744
Employee costs	593	609	716	810	801	842	908	881	866	885	957	956	930	910	1,144	1,184	1,206	1,269	1,484	1,631
Other expenses	947	920	1,004	1,114	1,282	1,225	1,461	1,496	1,497	1,515	1,710	1,822	1,824	2,007	2,087	2,359	2,472	2,376	2,340	2,750
Operating profit before depreciation	810	904	962	1,152	1,047	1,088	1,246	1,360	1,536	1,547	1,510	1,695	1,848	1,909	2,012	2,273	2,464	2,414	2,789	3,057
Operating margin	11.7%	13.1%	12.5%	12.8%	12.4%	12.9%	13.2%	13.0%	15.4%	15.3%	14.4%	14.7%	16.1%	16.2%	15.8%	15.6%	16.1%	15.5%	16.3%	15.1%
Depreciation and amortisation	215	234	222	238	250	275	265	252	244	270	247	261	266	309	332	341	361	372	381	373
Other income	15	14	33	9	11	74	120	147	25	9	7	8	18	7	11	13	16	30	7	74
Finance costs	245	275	302	350	354	418	477	517	516	534	520	522	554	635	663	651	651	653	708	763
Profit before one-off items and tax	364	409	470	573	453	468	624	738	801	753	750	920	1,046	972	1,029	1,294	1,467	1,420	1,707	1,996
One-off items	10	10	15	28	21	26	−3	−2	0	0	0	0	0	0	0	0	−50	0	0	0
Profit before tax	374	419	484	601	474	494	621	736	801	753	750	920	1,046	972	1,029	1,294	1,417	1,420	1,707	1,996
	127	107	149	190	174	166	201	269	255	279	251	303	338	323	343	402	445	539	519	707
Current tax	141	124	169	211	171	213	207	330	351	210	287	343	298	495	348	416	464	525	554	664
Deferred tax	−15	−17	−19	−21	4	−47	−6	−61	−96	69	−36	−40	40	−172	−4	−14	−20	14	−35	43
Tax rate	33.8%	25.5%	30.9%	31.7%	36.8%	33.6%	32.4%	36.5%	31.9%	37.1%	33.5%	32.9%	32.3%	33.2%	33.3%	31.0%	31.4%	38.0%	30.4%	35.4%
Share of profit of joint ventures and associates	5	−4	−9	−16	−11	−4	−10	−10	−13	−10	−18	−18	−22	−16	−11	−12	−3	−15	−14	−4
Profit from discontinued businesses	–	–	–	–	–	–	–	–	–	–	–	–	–	11	–	–	–	–	–	–
	253	308	326	394	289	324	409	457	532	464	481	599	685	644	675	880	969	865	1,174	1,286
Belonging to the company's shareholders	127	164	160	212	124	154	196	228	224	232	217	278	386	283	336	443	493	424	610	635
Belonging to outside owners of subsidiaries	126	145	166	182	165	170	213	229	308	232	264	321	299	361	340	437	476	441	563	651
Other comprehensive income	16	17	−6	16	84	−29	−50	12	30	−45	−30	78	−38	39	16	76	208	199	−24	33
Total comprehensive income	269	325	320	411	373	296	359	469	562	419	451	677	647	683	691	956	1,177	1,065	1,150	1,319
Net margin	3.7%	4.5%	4.3%	4.4%	3.4%	3.8%	4.3%	4.4%	5.3%	4.6%	4.6%	5.2%	6.0%	5.5%	5.3%	6.0%	6.3%	5.6%	6.9%	6.4%
Net margin without joint ventures and associates	3.6%	4.5%	4.4%	4.6%	3.5%	3.9%	4.4%	4.5%	5.5%	4.7%	4.8%	5.3%	6.2%	5.6%	5.4%	6.1%	6.4%	5.6%	7.0%	6.4%
Earnings per share	₹62.93	₹80.81	₹79.08	₹104.91	₹61.20	₹75.90	₹97.09	₹112.65	₹110.86	₹114.78	₹107.20	₹137.54	₹190.81	₹139.87	₹165.85	₹218.89	₹243.75	₹209.62	₹301.62	₹313.76

Earnings per share in rupees, restated for later splits and bonuses.

The quarters either side of a change of basis do not compare. From the quarter to Sep 2023, part of the business was demerged on 24 Aug 2023, and figures before the change include the part that left.

Segment results by quarter

Consolidated, ₹ crore, quarters to Jun 2026.TVS Holdings segment results by year

Automotive Vehicles & Parts
Revenue, ₹ crore
8,863
8,355
8,412
8,816
9,603
9,433
10,012
10,554
12,261
12,876
13,218
14,399
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
573
526
659
589
740
693
861
812
1,034
1,084
1,063
1,247
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Financial Services
Revenue, ₹ crore
1,395
1,527
1,751
1,677
1,684
1,834
2,190
2,240
2,353
2,470
2,455
2,772
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
179
209
224
231
225
407
305
395
434
560
443
563
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26

₹ crore	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue of all businesses	10,788	10,288	10,499	10,725	11,733	11,663	12,202	12,795	14,614	15,347	15,673	17,171
Company revenue, as in its results	10,473	9,996	10,125	10,476	11,554	11,459	11,800	12,742	14,549	15,276	15,588	17,076
Revenue	8,863	8,355	8,412	8,816	9,603	9,433	10,012	10,554	12,261	12,876	13,218	14,399
Revenue growth	–	–	–	–	8.4%	12.9%	19.0%	19.7%	27.7%	36.5%	32.0%	36.4%
Profit	573	526	659	589	740	693	861	812	1,034	1,084	1,063	1,247
Profit growth	–	–	–	–	29.0%	31.7%	30.7%	37.9%	39.9%	56.3%	23.5%	53.5%
Margin	6.5%	6.3%	7.8%	6.7%	7.7%	7.4%	8.6%	7.7%	8.4%	8.4%	8.0%	8.7%
Assets	13,525	13,297	13,360	13,091	13,796	14,454	15,959	16,554	18,476	18,592	20,767	22,338
Liabilities	10,552	9,984	10,155	10,074	10,388	10,678	12,355	12,193	14,362	13,764	15,784	17,257
Capital employed	2,973	3,313	3,206	3,017	3,408	3,776	3,604	4,361	4,113	4,828	4,983	5,081
Revenue	1,395	1,527	1,751	1,677	1,684	1,834	2,190	2,240	2,353	2,470	2,455	2,772
Revenue growth	–	–	–	–	20.7%	20.1%	25.1%	33.6%	39.7%	34.7%	12.1%	23.7%
Profit	179	209	224	231	225	407	305	395	434	560	443	563
Profit growth	–	–	–	–	25.5%	94.5%	35.9%	70.9%	93.0%	37.8%	45.3%	42.8%
Margin	12.8%	13.7%	12.8%	13.8%	13.3%	22.2%	13.9%	17.6%	18.4%	22.7%	18.1%	20.3%
Assets	26,619	28,719	28,553	29,942	30,599	32,143	38,223	38,499	39,800	41,134	43,240	46,010
Liabilities	22,719	25,590	25,170	25,910	26,367	27,230	31,670	31,988	32,994	33,836	35,331	37,002
Capital employed	3,901	3,129	3,383	4,032	4,233	4,913	6,552	6,511	6,806	7,298	7,909	9,008
Revenue	82	228	135	31	224	172	0	0	0	0	0	–
Revenue growth	–	–	–	–	–	−24.7%	−100.0%	–	−100.0%	−100.0%	–	–
Profit	75	122	31	−18	−4	4	0	0	0	0	0	–
Profit growth	–	–	–	–	–	−97.0%	−100.0%	–	–	−100.0%	–	–
Margin	91.2%	53.7%	23.0%	−55.9%	−2.0%	2.1%	–	–	–	–	–	–
Assets	2,349	2,417	2,418	2,499	2,434	0	0	0	0	0	0	–
Liabilities	2,910	1,985	2,156	2,268	2,206	0	0	0	0	0	0	–
Capital employed	−561	432	262	231	227	0	0	0	0	0	0	–
Revenue	448	178	202	201	221	224	–	–	–	–	–	–
Revenue growth	–	–	–	–	−50.6%	26.1%	–	–	–	–	–	–
Profit	23	6	−69	9	10	4	–	–	–	–	–	–
Profit growth	–	–	–	–	−57.1%	−36.8%	–	–	–	–	–	–
Margin	5.2%	3.4%	−34.0%	4.7%	4.5%	1.7%	–	–	–	–	–	–
Assets	400	390	395	396	427	401	–	–	–	–	–	–
Liabilities	269	268	255	242	272	250	–	–	–	–	–	–
Capital employed	130	122	140	154	155	151	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.