TVS Motor Company reported a 52.3% year-on-year increase in consolidated net profit to ₹1,377 crore for the second quarter of FY27, compared with ₹904 crore in the year-ago period. Its shares rose as much as 4% following the announcement.
Revenue from operations increased 43.7% to ₹17,103 crore from ₹11,905 crore in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 47.2% to ₹2,219 crore from ₹1,507 crore a year earlier.
The EBITDA margin stood at 13%, down from 13.2% in the previous quarter but up from 12.7% in the year-ago period.
The company’s net profit, revenue and EBITDA exceeded CNBC-TV18’s poll estimates of ₹1,370 crore, ₹16,790 crore and ₹2,200 crore, respectively. However, the EBITDA margin was below the poll estimate of 13.2%.
TVS Motor approves ₹530 crore acquisition of STPL
Separately, TVS Motor’s board approved the acquisition of a 100% stake in STPL Trading and Services Private Limited for ₹530.08 crore, according to an exchange filing dated October 28, 2026.
STPL is engaged in trading and services and holds a 7.5% stake in Home Credit India Finance Private Limited, a non-banking financial company (NBFC). STPL reported a profit after tax of ₹72.44 crore and a net worth of ₹220.85 crore, according to the filing.
The acquisition is part of TVS Motor’s business consolidation and restructuring plans. Following the merger of Home Credit India Finance with TVS Credit Services, the transaction is expected to increase TVS Motor’s effective stake in TVS Credit Services by around 2.4%, the filing said.
The acquisition will be funded through cash consideration and is expected to be completed by December 31, 2026. The shares will be acquired from related parties at an arm’s-length price based on a valuation report.
TVS Motor acquires Harita ARC for consumer finance demerger
In a separate transaction, TVS Motor acquired 100% of Harita ARC Limited, a wholly owned subsidiary of TVS Credit Services, for ₹25,000, according to the exchange filing.
Incorporated on August 25, 2017, Harita ARC has a paid-up capital of ₹25,000 and has not commenced business operations.
The acquisition is linked to TVS Motor’s proposed demerger of its consumer finance and related business into a separate legal entity. Harita ARC is expected to undertake these activities once the company’s board decides to implement the proposed demerger, the filing said.
TVS Motor said the transaction was a related-party deal conducted on an arm’s-length basis. No regulatory approvals were required, and the acquisition was completed on October 28, 2026.