In terms of growth, the country’s third-largest two-round sellers surpassed the market leader hero Motocorp Ltd. Compared to the Delhi-based company’s growth of 5%, the Hosur-based TV has increased by 12% in sales of its two-wheeler.
Even in the EV two-wheeler space, TVS Motor is able to bring challenges to market leader Ola Electric Mobility Ltd, which recorded only 4.5% growth in fiscal 2025. By comparison, TVS sales grew by nearly 30%, reaching Rs 2 million.
Radhakrishnan set ambition to challenge market leaders in the first quarter of the last fiscal year. However, it does not support companies.
During the year, even as the motorcycle market grew by 5%, its domestic motorcycle sales fell by 2%. In the electric vehicle sector, Bajaj narrowed the gap in TVS market share, from an 8% difference in fiscal 2024 to 0.5% at the end of March.
However, analysts remain bullish on the 63-year-old’s outlook.
“We expect TVS Motor’s market share to remain stable in the motorcycle sector; however, the total market share for fiscal 2024 is expected to grow from 17.1% in fiscal 2024 to 18.3%.”
In this context, Mint When TV announced its results for the January-March quarter on Monday, five things were listed.
income
According to average estimates from the four brokerage firms, the company will report revenue growth of about 13% in the last quarter of the fiscal year 2025. In the second quarter, the company’s revenue grew 24%, reaching 24%. ₹81.68 million.
Analysts attributed double-digit growth in revenue to strong growth in the year as total scooter sales in the country spanned the Big Traditional total for the first time 6.7 million.
“Revenues are expected to increase by about 15%, due to a 15% increase in volume, and the wealthier domestic vehicle portfolio will be offset by higher export volumes (the lower export CC model)” Axis Securities analysts wrote in the April 9 note.
The company’s two rounds of sales increased by 14% during the January-March period, with sales rising to 11.8 million units from 1.032 million sets in the fourth quarter of fiscal year 2023-24.
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Profitability
The average estimates of four analysts for the quarter suggest that the company’s profitability will see a growth of nearly 40% to about 40% ₹As profit margins expand, 6.8 million in the March quarter.
To be sure, brokers’ estimates have not yet considered any PLI benefits the company may incur in the quarter.
“We expect EBITDA’s profit margin to expand 70bp YOY to 12%, led by favorable product portfolio and cost control,” analysts at Motilal Oswal Financial Services wrote in an April 7 note.
International Business
The management’s comments on the international business will be closely watched as the company recently completed its acquisition of assets of Singapore’s electric vehicle startups for $1.7 million to expand its operations in Southeast Asia.
During the January-March period, the company’s exports rose by 31% to Rs 3.4 lakh. Comments on whether international volatility caused by the U.S. government’s announcement of tariffs will affect growth.
Electric Vehicle Plan
TVS Motor has rapidly expanded its sales of electric vehicles over the past few years. This trend suggests the company is rapidly expanding its electric vehicle products from 9,740 units in fiscal 2022 to 2.3 million units in fiscal 2025.
TVS’s economical IQUBE 2.2 kWh model was launched last May and managed to boost sales in the previous year, up nearly 30%.
While this challenges the leadership of market leader Ola Electric, more and more Bajaj Auto is under pressure, which sold more than 100% of EV two-wheeler sales in the last fiscal year.
The key points to note are the company’s new product product plans and how the company avoids competition when defending its 20% market share.
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The prospect of motorcycle demand
While scooter sales in the country are surging ahead of schedule, the company faces pressure from the motorcycle sector, which is weaker in demand in the cheap economic segment.
The company’s higher-priced Apache Bike series achieved strong growth of 18% to reach 446,000 sales in the last fiscal year.
Management’s comments on whether it will increase attention on premium bikes will be a key highlight as demand in the economic segment is weak.
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