The company’s revenue increased 34% year-on-year to ₹17,076.1 crore, compared with ₹12,742.1 crore in Q1 of the previous financial year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 38.6% year-on-year to ₹2,789.3 crore, from ₹2,012.1 crore in the year-ago period. The company’s EBITDA margin stood at 16.3% in the quarter, compared with 15.8% in the corresponding quarter last year.
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Last week, TVS Holdings said its subsidiary, Home Credit India Finance Private Limited, has signed a Share Purchase Agreement (SPA) to acquire 100% of the issued, subscribed and paid-up share capital of Varthana Finance Private Limited for ₹967 crore, subject to adjustments.
Upon completion of the transaction, Varthana Finance will become a wholly owned subsidiary of Home Credit India and a step-down wholly owned subsidiary of TVS Holdings. The proposed acquisition is subject to approvals from the Reserve Bank of India (RBI) and other statutory and regulatory authorities, along with the fulfilment of conditions under the SPA.
Varthana Finance, formerly known as Thirumeni Finance Private Limited, is a non-banking financial company (NBFC) engaged in providing credit facilities and financial services to schools, colleges, educational organisations, tutorial centres, vocational training institutes and other entities in the education sector.
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For FY26, Varthana Finance reported a turnover of ₹398.31 crore, profit after tax of ₹18.65 crore, and net worth of ₹574.23 crore. The acquisition will be completed through cash consideration, with the transaction expected to close within nine months from the execution of the SPA, subject to regulatory approvals and other conditions precedent.
TVS Holdings said the acquisition is intended to expand the group’s presence in the financial services sector by adding Varthana’s education finance business to its lending platform.
The company said the transaction is not a related-party transaction, and neither the promoters, promoter group nor group companies have any interest in the target company.
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Sudarshan Venu, Chairman, TVS Motor Company, said, “India’s financial services sector continues to offer significant opportunities for long-term growth, driven by rising formalisation, expanding credit access and the increasing need for specialised lending solutions. As we continue to build and scale our financial services platform, we remain focused on supporting high-quality institutions that address important customer needs across segments.
TVS Holdings, formerly Sundaram Clayton Ltd (SCL), is an auto components manufacturer based in Chennai and part of the TVS Group. It makes aluminium and magnesium castings for the automotive industry. Sundaram Clayton Ltd was the flagship company of the TVS Group before being overtaken by its subsidiary, TVS Motor Company.
Shares of TVS Holdings Ltd ended at ₹14,241.00, up by ₹231.75, or 1.65%, on the BSE.
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