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Informist, Sunday, Jun. 1, 2025

MUMBAI - TVS Motor Co. Ltd.'s wholesale volumes in May rose nearly 17% on year to 431,275 units, according to the company's exchange filing Sunday. In the same month last year , the company saw nearly 8% decline in volumes. However, the sales volumes in May were down nearly 3% on month.

The 17% year-on-year growth in overall sales was mixed when compared with analysts' expectations. While brokerage Nomura had expected the company's total volumes to rise nearly 19%, Anand Rathi Share and Stock Brokers expected the growth at 16%.

Its domestic two-wheeler business saw a growth of nearly 16% with the company selling 416,166 units in May. This growth was led by motorcycle sales, which rose nearly 22% to 211,505 units. This was the highest growth in motorcycle sales in eight months. The company sold 166,749 scooters, up nearly 15% on year.

Its sales from three-wheeler segment increased 46% on year to 15,109 units in May. Further, the company reported strong volume growth in electric vehicle segment and sold 50% more units in May compared with the same month last year. Its overall electric vehicle sales were 27,976 units in May.

While electric vehicle sales have seen strong double-digit growth from the past several months, the company expects some pressure on the segment going forward. "...disruptions in the EV supply chain, particularly concerning magnet availability is expected to pose challenges in the short to medium term," the company said in the filing.

Its exports remained strong with volumes rising to 118,437 units in May, up 22% on year. Within this, two-wheeler exports rose 21% to 106,879 units. 

During the March quarter, TVS Motor reported a net profit of INR 8.52 billion on revenue of INR 95.50 billion. Friday, its shares had closed at INR 2,780.80 on the National Stock Exchange, down 1%.  End

Reported by Anshul Choudhary

Edited by Vandana Hingorani

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