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TVS Motor Launches Orbiter V1 at ₹49,999; Introduces Battery-As-A-Service (BaaS)
TVS Motor has launched the Orbiter V1, its most accessible electric scooter, starting at ₹49,999 under a new Battery-As-A-Service (BaaS) model. The BaaS program is being rolled out across the entire EV portfolio, with monthly subscription plans starting as low as ₹862. The Orbiter V1 features a 1.8 kWh battery providing an 86 km IDC range and includes a 5-year or 70,000 km warranty under the BaaS plan. This strategic move aims to lower the entry barrier for EV adoption and compete more aggressively in the mass-market segment.
Key Highlights
Launched TVS Orbiter V1 with 1.8 kWh battery at an entry price of ₹49,999 with BaaS.
Introduced BaaS across all EV models with monthly subscription fees starting at ₹862.
Orbiter V1 delivers 86 km IDC range and supports 0-80% charging in 2 hours 20 minutes.
BaaS model includes extended warranty up to 5 years/70,000 km and unlimited mileage.
The scooter features 34-litre storage and advanced tech like OTA updates and Hill Hold Assist.
💼 Action for Investors
Monitor the impact of the BaaS model on sales volumes and market share in the competitive EV two-wheeler space. This move positions TVS to capture the budget-conscious segment, potentially boosting long-term recurring revenue.
TVS Motor Receives Approval to List 190 Crore 6% Preference Shares on NSE and BSE
TVS Motor Company has received final listing and trading approvals from NSE and BSE for 190,03,48,456 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS). These shares, with a face value of INR 10 each, were issued following an NCLT-sanctioned Scheme of Arrangement with shareholders. Trading for these securities is scheduled to commence on March 10, 2026, under the symbol TVSMNCRPS. This move provides liquidity to shareholders who were allotted these preference shares as part of the company's capital restructuring.
Key Highlights
Listing of 190,03,48,456 NCRPS with a face value of INR 10 each
Fixed 6% cumulative dividend rate for the preference shares
Trading to commence on both NSE and BSE effective March 10, 2026
Issued pursuant to a Scheme of Arrangement sanctioned by NCLT Chennai
ISIN for the new securities is INE494B04019
💼 Action for Investors
Shareholders who received these preference shares can now trade them for liquidity starting March 10, 2026. Long-term investors may choose to hold them for the steady 6% cumulative dividend yield.
India Ratings Assigns 'IND AAA/Stable' to TVS Motor's Proposed Rs 500 Cr NCDs
India Ratings has assigned its highest 'IND AAA/Stable' rating to TVS Motor's upcoming Rs 500 crore NCD issue, reflecting superior creditworthiness. The company has demonstrated strong market gains, with its domestic scooter share rising to 28.5% and maintaining a leadership position in the e-scooter segment with a 23% share. Financial health remains robust with standalone EBITDA margins improving to 12.8% and net leverage staying below 1.0x. While overseas subsidiaries currently impact consolidated margins, the rating agency expects losses to narrow by FY27.
Key Highlights
Assigned 'IND AAA/Stable' rating for proposed Rs 500 crore Non-Convertible Debentures.
Domestic scooter market share increased to 28.5% in 10MFY26 from 18% in FY20.
Market leader in the e-scooter segment with over 23% market share as of 9MFY26.
Standalone EBITDA margins improved to 12.8% in 9MFY26 compared to 11% in FY24.
Net adjusted leverage remained healthy at below 1.0x for both FY24 and FY25.
💼 Action for Investors
The AAA rating reaffirms TVS Motor's financial strength and its successful transition toward premium and electric vehicles. Investors should view this as a strong indicator of the company's ability to access low-cost capital for future expansions.
TVS Motor February 2026 Sales Surge 31% YoY to 5.29 Lakh Units; EV Sales Up 60%
TVS Motor Company reported a robust 31% YoY growth in total sales for February 2026, reaching 529,308 units. The company achieved its highest-ever international business sales of 1.58 lakh units, marking a 27% growth. The Electric Vehicle (EV) segment showed significant momentum with a 60% increase, while the three-wheeler segment surged by 77%. Domestic two-wheeler sales also remained strong, growing 32% to 3.65 lakh units.
Key Highlights
Total monthly sales grew 31% YoY to 529,308 units in February 2026.
International business recorded highest-ever sales of 1.58 lakh units, up 27% YoY.
Electric Vehicle (EV) sales jumped 60% to 38,386 units compared to 24,017 units last year.
Three-wheeler segment witnessed a massive 77% growth, reaching 21,446 units.
Domestic two-wheeler sales grew by 32% to 365,471 units from 276,072 units.
💼 Action for Investors
Investors should view this as a strong performance indicator, particularly the record exports and high EV growth. The stock remains a strong play in the two-wheeler segment given its balanced growth across domestic and international markets.
TVS Motor Expands in South Africa with 7 New Models and Strategic Bidvest Partnership
TVS Motor has announced its strategic re-entry into the South African market through a partnership with The Nexus Collective, backed by the Bidvest Group. The company is launching seven high-performance models across the sport, commuter, and urban mobility segments to capture diverse market needs. This expansion leverages TVS's existing international strength, where global business accounts for 25% of total sales. Africa remains a critical growth driver, contributing over 50% of the company's global operational revenue and nearly 70% of its export unit volumes.
Key Highlights
Launched 7 diverse models including Apache RR 310, Raider 125, and the HLX series for utility.
Strategic partnership formed with The Nexus Collective, a specialized distributor backed by Bidvest Group.
International business currently contributes 25% of total sales as of 2025 data.
Africa accounts for over 50% of global operational revenue and 70% of export unit volumes.
Becomes the only two-wheeler brand in South Africa to operate across multiple product segments simultaneously.
💼 Action for Investors
Investors should monitor the sales traction in South Africa as it reinforces TVS's high-margin export strategy. The partnership with a major local distributor like Bidvest reduces execution risk in a key geography.
TVS Motor Completes Sale of 11,997 CCPS in Roppen Transportation (Rapido)
TVS Motor Company has successfully completed the divestment of its stake in Roppen Transportation Services Private Limited, the parent company of Rapido. The transaction involved the sale of 11,997 Series D Compulsory Convertible Preference Shares (CCPS) to Accel Leaders 5 Holdings and Accel India VIII. This completion follows previous regulatory intimations made in November 2025 and February 2026. The move indicates a strategic exit or value unlocking from a non-core startup investment.
Key Highlights
Sold 11,997 Series D Compulsory Convertible Preference Shares (CCPS) in Roppen Transportation Services.
Purchasers include Accel Leaders 5 Holdings (Mauritius) Limited and Accel India VIII (Mauritius) Limited.
Transaction was finalized on February 25, 2026, following earlier board approvals.
The divestment marks the conclusion of a process initiated in late 2025.
💼 Action for Investors
Investors should monitor the upcoming quarterly results for the financial impact of this sale and any potential capital gains. This divestment suggests a focus on core business operations or reallocation of capital toward EV initiatives.
TVS Motor Hits 1 Million Production Milestone in Indonesia; Reinforces Global Export Hub
TVS Motor Company has achieved a significant milestone by producing 1 million units at its Indonesian manufacturing facility since starting operations 19 years ago. The production mix is heavily weighted toward two-wheelers (95%), with the remaining 5% being three-wheelers. This facility now serves as a critical global export hub, shipping vehicles to over 30 countries across Southeast Asia, the Middle East, and Africa. With an annual capacity of 300,000 units, the Indonesian operations are central to TVS's strategy of diversifying its manufacturing base outside India.
Key Highlights
Reached 1,000,000 units total production in Indonesia since starting operations in 2006
Product mix consists of approximately 95% two-wheelers and 5% three-wheelers
The Indonesian facility maintains a total annual production capacity of 300,000 units
Exports from the Indonesia hub reach over 30 countries across ASEAN, Middle East, and South America
Operates a network of 49 dealerships and after-sales support covering 4,882 districts in Indonesia
💼 Action for Investors
Investors should view this as a validation of TVS Motor's successful international expansion and its ability to build a self-sustaining global manufacturing hub. Monitor the growth in export volumes from Indonesia as a key driver for non-domestic revenue growth and margin improvement.
TVS Motor Completes Sale of Stake in Roppen Transportation (Rapido) to MIH Investments
TVS Motor Company Limited has successfully completed the sale of its holding in Roppen Transportation Services Private Limited, commonly known as Rapido. The transaction involved the transfer of 10 equity shares and 11,988 Series D Compulsorily Convertible Preference Shares (CCPS) to MIH Investments One B.V. This announcement follows a previous disclosure made on November 6, 2025, marking the finalization of this divestment. The move represents a strategic exit or partial exit from the ride-sharing platform operator.
Key Highlights
Completed sale of 10 Equity Shares in Roppen Transportation Services Private Limited.
Transferred 11,988 Series D Compulsorily Convertible Preference Shares (CCPS) to the buyer.
The buyer for the stake is MIH Investments One B.V., an entity under the Prosus group.
The transaction was finalized on February 17, 2026, as per SEBI Regulation 30 compliance.
This follows the initial divestment agreement announced by the company in November 2025.
💼 Action for Investors
Investors should view this as a routine portfolio cleanup of non-core startup investments. No immediate action is required as the financial impact on TVS Motor's large-cap balance sheet is expected to be minimal.
TVS Motor Strengthens Egypt Presence with TVS Ronin and TVS Ntorq Launch
TVS Motor Company has expanded its product portfolio in Egypt by launching the TVS Ronin Top and TVS Ntorq Race Edition. This move is part of a long-term strategy to deepen its presence in the Egyptian market, supported by a 6-year partnership with distributor Ezz LCV. To support this growth, Ezz LCV has established a state-of-the-art assembly line in Giza to boost local manufacturing and delivery efficiency. TVS Motor currently operates in over 90 countries, and this launch targets the premium and performance segments of the two-wheeler market.
Key Highlights
Launched TVS Ronin Top and TVS Ntorq Race Edition in Egypt to target premium and urban segments.
Leveraging a 6-year strategic partnership with local distributor Ezz LCV.
New assembly line established in Giza, Egypt, to enhance local manufacturing capabilities.
TVS Motor continues to expand its global footprint across 90+ countries.
💼 Action for Investors
Investors should monitor the growth in export volumes as TVS continues to diversify its revenue streams geographically. The focus on local assembly in Egypt could lead to better margins and competitive pricing in the North African region.
TVS Motor Launches King Kargo HD CNG at Rs 2.71 Lakh for Last-Mile Logistics
TVS Motor Company has launched the TVS King Kargo HD CNG, targeting the growing last-mile cargo delivery segment with an introductory price of Rs 2,70,648. The vehicle features a 301.1 cc engine delivering 9.1 kW power and a segment-leading 6.6 ft load deck. The rollout will occur in phases across key states including Delhi NCR, Gujarat, and Maharashtra. This move strengthens TVS's presence in the commercial mobility space, backed by a 3-year warranty and a network of over 470 service touchpoints.
Key Highlights
Introductory price set at Rs 2,70,648 (Ex-showroom, Delhi) for the new CNG cargo variant
Powered by a 301.1 cc liquid-cooled engine producing 9.1 kW power and 22.4 Nm torque
Features a best-in-segment 6.6 ft load deck and a high ground clearance of 235 mm
Phased rollout across major Indian states supported by 470+ service touchpoints
Comes with a 3-year or 1.5 lakh km warranty and 3 years of roadside assistance
💼 Action for Investors
Investors should monitor the sales volume of this new variant as it competes in the competitive CNG cargo three-wheeler market. The expansion into the high-demand last-mile logistics sector could provide a steady revenue stream and improve market share in the commercial vehicle segment.
TVS Motor Q3 FY26: Record Revenue of ₹12,476 Cr and 51% EBITDA Growth
TVS Motor reported its highest-ever quarterly revenue and profits in Q3 FY26, with operating revenue growing 37% YoY to ₹12,476 crores. Operating EBITDA surged 51% to ₹1,634 crores, driven by a 27% volume growth and improved margins of 13.1%. The company outperformed the industry in both domestic ICE and international markets, while EV sales crossed the 1 lakh unit mark for the quarter. Management remains optimistic for Q4, citing GST benefits and strong rural demand.
Key Highlights
Operating revenue grew 37% YoY to ₹12,476 crores with EBITDA margins expanding 120 bps to 13.1%.
Domestic ICE 2W sales grew 21%, significantly outperforming the industry growth of 16%.
EV 2-wheeler sales grew 40% YoY, reaching 1,06,000 units in Q3 FY26.
International market sales grew 35% YoY, driven by recovery in Africa and LatAm regions.
TVS Credit reported a 21% growth in PBT to ₹390 crores with a book size of ₹29,678 crores.
💼 Action for Investors
Investors should view the strong volume outperformance and margin expansion as a sign of robust competitive positioning. The stock remains a strong play on the premiumization trend and EV transition in the Indian two-wheeler space.
TVS Motor Reports 29% YoY Sales Growth in January 2026, EV Sales Surge 50%
TVS Motor Company recorded a robust 29% year-on-year growth in total sales for January 2026, reaching 511,766 units compared to 397,623 units in the previous year. The growth was broad-based, with domestic two-wheeler sales increasing by 30% and electric vehicle (EV) sales jumping 50% to 37,756 units. Exports also showed healthy momentum with a 21% increase, while the three-wheeler segment saw a massive 77% growth. This performance indicates strong demand across both domestic and international markets and successful penetration in the EV space.
Key Highlights
Total monthly sales grew 29% YoY to 511,766 units in January 2026
Electric Vehicle (EV) sales surged 50% YoY, reaching 37,756 units
Domestic two-wheeler sales increased by 30% to 383,262 units
Three-wheeler segment recorded the highest growth rate of 77% YoY with 17,571 units
Total exports grew 21% YoY to 122,343 units
💼 Action for Investors
Investors should view this as a strong signal of market share gains and robust demand, particularly in the high-growth EV and domestic scooter segments. The stock may see positive momentum following these strong volume numbers which suggest healthy revenue growth for the quarter.
TVS Motor Q3FY26: Revenue up 37%, EBITDA Margin hits record 13.1%, PBT grows 57% YoY
TVS Motor reported its highest-ever quarterly revenue of ₹12,476 Crores, a 37% increase year-on-year for Q3FY26. Profitability saw a significant boost with PBT growing 57% to ₹1,315 Crores and EBITDA margins expanding to a record 13.1%. Total sales volume reached 15.44 lakh units, driven by strong growth in motorcycles (31%) and electric vehicles (40%). The company also highlighted a massive 106% growth in three-wheeler sales and continued international expansion through its Norton and BMW partnerships.
Key Highlights
Highest ever quarterly revenue of ₹12,476 Crores, up 37% YoY from ₹9,097 Crores.
Operating EBITDA grew 51% to ₹1,634 Crores with record margins of 13.1% vs 12.4% YoY.
EV sales achieved highest ever quarterly volume of 1.06 Lakh units, growing 40% YoY.
International business 2W sales grew by 35% to 3.66 Lakh units during the quarter.
Three-wheeler sales saw a massive jump of 106% to 0.60 Lakh units compared to 0.29 Lakh units YoY.
💼 Action for Investors
The stock remains a strong performer given the robust margin expansion and market share gains in both ICE and EV segments. Investors should maintain a positive outlook as the company successfully scales its premium portfolio and international operations.
TVS Motor Q3 PAT Jumps 52% YoY to ₹940 Cr; Revenue Up 37% with Strong Margin Expansion
TVS Motor Company reported a robust performance for the quarter ended December 31, 2025, with standalone revenue from operations growing 37.1% YoY to ₹12,476.26 crore. Net profit (PAT) surged 52% to ₹940.37 crore, supported by a 27.4% increase in sales volumes to 15.44 lakh units. Operating EBITDA margins showed significant improvement, rising to 13.1% from 11.9% in the year-ago period. The company also noted a fair valuation gain of ₹162.04 crore on its investment in Rapido within Other Comprehensive Income.
Key Highlights
Revenue from operations increased 37.1% YoY to ₹12,476.26 crore.
Standalone Profit After Tax (PAT) grew by 52% YoY to ₹940.37 crore.
Sales volumes reached 15.44 lakh units, up from 12.12 lakh units in Q3 FY25.
Operating EBITDA margin expanded to 13.1% versus 11.9% in the previous year.
Exceptional item of ₹41.37 crore recognized as a liability for New Labour Codes.
💼 Action for Investors
The company exhibits strong operational leverage and volume growth, making it a solid pick in the two-wheeler segment. Investors should maintain a positive outlook while monitoring the future cost impact of the Extended Producer Responsibility (EPR) rules for vehicle scrapping.
TVS Motor Shareholders Approve Appointment of Kalpana Unadkat as Independent Director
TVS Motor Company shareholders have approved the appointment of Ms. Kalpana Unadkat as a Non-Executive Independent Director for a five-year term effective December 15, 2025. The special resolution was passed via postal ballot with 86.49% of total votes in favor. While promoters and retail investors showed near-unanimous support, approximately 32.98% of public institutional votes were cast against the resolution. Despite this institutional resistance, the resolution met the requisite majority requirements for a special resolution.
Key Highlights
Special resolution passed for the appointment of Ms. Kalpana Unadkat as Independent Director for a 5-year term.
Total valid votes polled were 409,332,170, with 354,048,021 (86.49%) in favor and 55,284,149 (13.51%) against.
Promoters cast 100% of their 238.78 million votes in favor of the appointment.
Public institutional investors showed significant dissent, with 32.98% of their votes cast against the resolution.
The appointment is effective from December 15, 2025, following the conclusion of the e-voting process on January 22, 2026.
💼 Action for Investors
Investors should note the appointment as part of standard board governance, though the 33% institutional dissent warrants monitoring of future governance disclosures. No immediate action is required as the resolution has been legally passed.
TVS Motor Q3FY26 Sales Hit Record 15.44 Lakh Units; Dec Sales Up 50% YoY
TVS Motor Company reported its highest-ever quarterly sales of 15.44 lakh units in Q3FY26, representing a 27% year-on-year growth. For the month of December 2025, total sales surged by 50% to 481,389 units, driven by a massive 54% jump in domestic two-wheeler volumes. The company also saw significant traction in its Electric Vehicle (EV) segment, which grew by 77% to 35,605 units. Additionally, the three-wheeler segment and international exports showed robust growth of 110% and 40% respectively in December.
Key Highlights
Achieved highest ever quarterly sales of 15.44 lakh units in Q3FY26, up 27% YoY
December 2025 total sales grew 50% YoY to 481,389 units from 321,687 units
Electric Vehicle (EV) sales increased 77% YoY to 35,605 units in December
Domestic two-wheeler sales grew 54% YoY to 330,362 units
Three-wheeler segment registered 110% growth in December with 20,318 units
💼 Action for Investors
The record-breaking quarterly performance and strong growth across EV and export segments signal high operational momentum. Investors should remain positive on the stock while monitoring how this volume growth translates into margin expansion in the upcoming quarterly results.
TVS Motor Partners with Manba Finance for Commercial Vehicle Financing Solutions
TVS Motor Company has entered into a strategic partnership with Manba Finance Limited to provide retail financing for its commercial mobility segment. The agreement covers the entire range of passenger and cargo three-wheelers, including both Internal Combustion Engine (ICE) and Electric Vehicle (EV) models. This collaboration aims to improve vehicle affordability and market penetration in rural and semi-urban areas through competitive EMI schemes and faster loan processing. For investors, this move is expected to boost sales volumes in the commercial vehicle segment by lowering the entry barrier for entrepreneurs and fleet operators.
Key Highlights
MoU signed with Manba Finance to offer retail finance for the entire commercial mobility portfolio.
Covers both ICE and EV models across passenger and cargo three-wheeler segments.
Aims to reduce loan turnaround time (TAT) and increase penetration in rural and semi-urban markets.
Partnership expected to contribute significantly to growth starting from FY26.
💼 Action for Investors
Investors should monitor the sales growth in the 3-wheeler and EV commercial segments over the coming quarters as this financing tie-up takes effect. This partnership strengthens TVS's competitive position in the last-mile connectivity market.
TVS Motor Sales Surge 30% in Nov 2025; International Business Hits Record High
TVS Motor Company reported a robust 30% year-on-year growth in total sales for November 2025, reaching 519,508 units. The performance was highlighted by record-breaking international business sales, which grew 58% to 148,315 units. The electric vehicle segment continued its upward trajectory with a 46% growth, while the three-wheeler segment saw a massive 147% increase. Domestic two-wheeler sales also remained strong, growing 20% compared to the previous year.
Key Highlights
Total monthly sales grew 30% YoY to 519,508 units from 401,250 units in November 2024
International business clocked its highest-ever sales of 148,315 units, a 58% YoY increase
Electric Vehicle (EV) sales rose 46% to 38,307 units in November 2025
Three-wheeler segment registered a significant 147% growth, reaching 21,667 units
Domestic two-wheeler sales increased 20% to 365,608 units
💼 Action for Investors
The strong growth across all segments, particularly the record-high exports and EV momentum, makes TVS Motor a positive watch for investors. Focus on the company's ability to maintain these export volumes and the impact of the three-wheeler surge on overall margins.