| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 20,183 | 14,549 | +38.7% |
| EBITDA | 3,057 | 2,273 | +34.5% |
| EBITDA margin | 15.2% | 15.6% | −0.5 pts |
| Profit before tax | 1,996 | 1,294 | +54.3% |
| Net profit | 1,286 | 880 | +46.1% |
| EPS | ₹313.76 | ₹218.89 | +43.3% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 24,681 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 6,675 | 4,621 | 4,707 | 2,821 | 4,103 | ||
| 7,481 | 6,426 | 5,469 | — | 2,804 | ||
| 36,156 | 36,156 | 32,488 | 26,232 | 25,013 | ||
| 61,643 | — | — | — | — | ||
| 68,122 | 58,155 | 44,993 | 40,248 | 33,564 | ||
| — | +29.3% | +11.8% | +19.9% | — | ||
| 10,724 | 9,163 | 6,918 | 5,874 | 4,248 | ||
| 15.7% | 15.8% | 15.4% | 14.6% | 12.7% | ||
| 9,238 | 7,757 | 5,852 | 4,844 | 3,263 | ||
| 4,294 | 3,390 | 2,409 | 1,782 | 1,333 | ||
| 6.3% | 5.8% | 5.4% | 4.4% | 4.0% | ||
| ₹1,068.33 | ₹837.79 | ₹575.19 | ₹395.45 | ₹320.97 | ||
| — | +45.7% | +45.5% | +23.2% | — | ||
| — | 1,137 | 3,535 | −867 | −4,111 | ||
| — | −3,293 | −2,483 | −1,120 | −1,485 | ||
| −2,156 | −2,156 | 1,052 | −1,986 | −5,596 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 24,680.7 | |
| - Cash, Equiv & ST Investments | 4,102.9 | 2,820.9 | 4,707.0 | 4,621.4 | 6,674.8 | |
| + Minority Interest | 2,804.2 | — | 5,469.0 | 6,426.4 | 7,481.1 | |
| + Total Debt | 25,013.0 | 26,232.5 | 32,488.0 | 36,156.3 | 36,156.3 | |
| Enterprise Value | — | — | — | — | 61,643.2 | |
| Revenue | 33,564.2 | 40,247.6 | 44,993.2 | 58,154.5 | 68,121.9 | |
| Growth %, YoY | — | +19.9 | +11.8 | +29.3 | — | |
| EBITDA | 4,248.4 | 5,873.9 | 6,918.5 | 9,163.2 | 10,724.5 | |
| Margin % | 12.66 | 14.59 | 15.38 | 15.76 | 15.74 | |
| EBIT | 3,262.6 | 4,843.9 | 5,851.6 | 7,757.4 | 9,237.6 | |
| Net Income | 1,333.2 | 1,782.4 | 2,409.3 | 3,390.2 | 4,294.0 | |
| Margin % | 3.97 | 4.43 | 5.35 | 5.83 | 6.30 | |
| EPS, Adj (current shares) | 320.97 | 395.45 | 575.19 | 837.79 | 1,068.33 | |
| Growth %, YoY | — | +23.2 | +45.5 | +45.7 | — | |
| Cash from Operations | -4,110.6 | -866.6 | 3,534.9 | 1,137.3 | — | |
| Capital Expenditures | -1,485.2 | -1,119.8 | -2,482.6 | -3,293.1 | — | |
| Free Cash Flow | -5,595.9 | -1,986.3 | 1,052.3 | -2,155.8 | -2,155.8 | |
Prices at the previous close · figures from the company's filings with NSE
TVS Holdings (NSE: TVSHLTD) had a market capitalisation of ₹24,681 crore at the previous close (₹12,194.00 a share), a PE ratio of 11.4 on the last four quarters' profit and a price-to-book ratio of 3.69. In FY26 its consolidated net profit attributable to shareholders was ₹1,696 crore on revenue of ₹58,155 crore; in Q2 FY27 (July–September 2026) it was ₹635 crore, up 43.3% year on year. Its debt-to-equity ratio was 3.21 on 30 September 2026. Promoters held 74.45% of the shares on 30 September 2026.
TVS Holdings' PE ratio is 11.4 at the previous close (₹12,194.00 a share): a market capitalisation of ₹24,681 crore divided by consolidated net profit attributable to shareholders of ₹2,162 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit attributable to shareholders (₹1,696 crore) it is 14.6.
TVS Holdings' price-to-book (PB) ratio is 3.69 at the previous close: a market capitalisation of ₹24,681 crore divided by shareholders' equity (book value) of ₹6,697 crore on 30 September 2026. That is a book value of ₹3,308.81 per share against a share price of ₹12,194.00.
TVS Holdings' debt-to-equity ratio was 3.21 on 30 September 2026: borrowings, debt securities, deposits and subordinated debt of ₹45,553 crore against total equity of ₹14,178 crore. A year earlier, on 30 September 2025, it was 3.16.
TVS Holdings' market capitalisation was ₹24,681 crore at the previous close: 2.02 crore shares at ₹12,194.00 each.
No. TVS Holdings had borrowings of ₹45,553 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 3.21. Its cash and current investments were ₹8,299 crore, so its net debt was ₹37,254 crore.
In 2026, TVS Holdings has declared one dividend: ₹86 (interim) with record date 2 April 2026.
TVS Holdings' net worth — shareholders' equity in its consolidated balance sheet — was ₹6,697 crore on 30 September 2026, up 21.5% from ₹5,513 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹24,681 crore at the previous close.
TVS Holdings' book value per share was ₹3,308.81 on 30 September 2026: shareholders' equity of ₹6,697 crore divided by the 2.02 crore shares in issue, up 21.5% from ₹2,723.85 a year earlier. The share price at the previous close was ₹12,194.00.
TVS Holdings' dividend yield is 0.71% at the previous close: dividends of ₹86 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹12,194.00. They were ₹86 on 2 April 2026 (interim).
In FY26, TVS Holdings' return on equity (ROE) was 30.4%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year).
TVS Holdings' basic earnings per share (EPS) were ₹838.12 in FY26, against ₹575.41 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹1,068.75.
Promoters held 74.45% of TVS Holdings on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
On 30 September 2026, TVS Holdings' shares were held by promoters 74.45%, foreign portfolio investors (FII/FPI) 3.10%, domestic institutions (DII) 9.54% (including mutual funds at 7.28%) and retail and other non-institutional investors 12.90%. Over the year, FII holding was up 0.10 percentage points from 3.00% and DII holding was down 0.33 percentage points from 9.87%.
TVS Holdings' latest results are for Q2 FY27 (July–September 2026), filed on 28 October 2026: consolidated net profit attributable to shareholders ₹635 crore, up 43.3% from ₹443 crore in Q2 FY26; revenue from operations ₹20,183 crore, up 38.7% year on year.
In FY26, TVS Holdings earned net profit attributable to shareholders of ₹1,696 crore on revenue of ₹58,155 crore, against ₹147 crore on ₹179 crore for JSW Holdings. TVS Holdings' operating margin was 13.3% (JSW Holdings 92.2%) and its return on equity 30.4% (JSW Holdings 0.5%).
In FY26, TVS Holdings generated ₹1,137 crore of cash from operations and spent ₹3,293 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹2,156 crore. In FY25 it was ₹1,052 crore.
In FY26 (April 2025–March 2026), TVS Holdings' consolidated net profit attributable to shareholders was ₹1,696 crore, up 45.7% from ₹1,164 crore in FY25, on revenue from operations of ₹58,155 crore (up 29.3%). Over three years, from FY23, net profit was up 161.0%.
TVS Holdings has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against JSW Holdings, Pilani Investment and Industries Corporation and Nalwa Sons Investments: TVS Holdings' return on equity of 30.4% is the highest of the four (JSW Holdings 0.5%, Pilani Investment and Industries Corporation 0.2%, Nalwa Sons Investments 0.3%; peer average 0.3%); its revenue growth over three years of 20.1% a year is the highest of the four (JSW Holdings −23.9% a year, Pilani Investment and Industries Corporation 0.5% a year, Nalwa Sons Investments −8.4% a year; peer average −10.6% a year).
From TVS Holdings' own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.