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Informist, Wednesday, Jan. 28, 2026

 

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--TVS Motor: Expect Q4 to go 'extremely' well for auto industry
--CONTEXT: Comments by TVS Motor's mgmt in post-earnings analyst call  
--TVS Motor: Not seeing growth in Europe, may take few quarters to improve 
--TVS Motor: Oct-Dec revenue from international business at INR 29.09 bln 
--TVS Motor: Revenue from spare parts in Oct-Dec at INR 10.83 bln 
--TVS Motor: Expect to outperform industry on exports in Q4 
--TVS Motor: Marketing expenses rose in FY26 owing to new launches 
--TVS Motor: Sold 8,500-9,000 electric vehicles in Oct-Dec 
--TVS Motor: See FY26 capex at around INR 17 bln, investments at INR 29 bln 
--TVS Motor: Currently producing around 30,000 iQube a month on average 
--TVS Motor: Production of Orbiter e-scooters nearing 10,000 a month 
--TVS Motor: To up prices only if possible and if customers, demand not hit 

 

By Arundathi A R 

 

MUMBAI – TVS Motor Co. Ltd. will look to increase prices wherever possible without hurting customer demand, the company's management said at a conference call with analysts on Wednesday. "We want to give better value to the customer, and wherever there is an opportunity, we want to take a little bit of price increase," the management said.

 

The company expects to outperform the automobile industry in the March quarter on exports, the management said. The company management said the March quarter is going 'extremely' well for the automobile industry. 

"Demand in Africa continues to grow on a quarter-on-quarter basis," the management said. It also expects growth in Europe to improve over the next few quarters. TVS Motor reported a revenue of INR 29.09 billion from its international business in the December quarter, the management said.

 

"EV (electric vehicle) penetration is slightly lower now, but it is going to improve going forward," the management said. The company sold 8,500–9,000 electric vehicles in Oct-Dec. The management also said that electric vehicle penetration is increasing across both two-wheelers and three-wheelers. 

 

The company expects to spend INR 17 billion as capital expenditure in 2025-26 (Apr-Mar). "We are now looking at increasing some of the area's capacity given the kind of growth that we have seen," the management said. Total investments are expected to be around INR 29 billion, the management, without giving details.

 

In the spare parts segment, the company's revenue was INR 10.83 billion in the December quarter. 

 

For the December quarter, marketing expenses rose due to new launches. "The only thing that was a little bit higher in this quarter was marketing expenses, because of the number of products we launched," the management said. About INR 600 million in additional marketing expenses were reported in the quarter.

 

TVS Motor is currently producing around 30,000 electric iQube scooters per month on average. The management also said its production of Orbiter e-scooters is nearing 10,000 a month. 

 

TVS Motor announced its December quarter earnings during market hours on Wednesday. Shares of the company closed 4.5% higher at INR 3,728.40 on the National Stock Exchange.

 

Edited by Saji George Titus

 

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