TVS Motor share price today

TVS Motor Company Ltd's share price was ₹4,331.20 at the close on 4 November 2026. It has been rising for 15 weeks. That is 13.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹3,313 and ₹4,441, and at that close it sat 90% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today TVS Motor Company Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 19 weeks in a row.

Over the last 11 years the share price moved +1,538% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and highest quarterly profit in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹19,474 crore, +38.6% on a year earlier.

   Why: Revenue rose because the company sold more vehicles than a year earlier, with growth ahead of the industry across its segments.

   Next results: check whether festive demand helps the company stay ahead of the industry in the second half.

   From the earnings call on 28 Oct 2026.

2. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter profit was ₹1,219 crore, +46.3% on a year earlier.

   Why: Profit rose because more vehicle sales and a better mix of products, price increases and cost cuts helped the company keep more from each sale.

   Next results: check if the company keeps more profit from each rupee of sales as material cost increases become smaller.

   From the earnings call on 28 Oct 2026.

3. Highest quarterly profit in 16 quarters

   Profit of ₹1,219 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), TVS Motor reported revenue of ₹19,474 crore, up 38.6% from ₹14,051 crore a year earlier, and a profit of ₹1,219 crore, up 46.3% from ₹833 crore.

TVS Motor results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

TVS Motor's management discussed these results on a call held on 28 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

TVS Motor closed at ₹4,331.20 on 4 November 2026, up 25.3% from ₹3,456.80 a year earlier (7 November 2025) and up 511.1% over five years. Its highest weekly close since February 2016 was ₹4,440.90 on 7 August 2026.

TVS Motor share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: TVS Motor closed at ₹4,331.20, up 3.2% on the week and up 7.7% on the month. 28 Oct 2026: TVS Motor held its results call for July to September 2026. Management guided: Industry ICE two- and three-wheeler good single-digit growth in H2 on high year-ago base, TVS to outgrow domestic and international through Q3-Q4.

Earlier

• Results for July to September 2026: Revenue up 38.6% and profit up 46.3% on a year earlier.
• 30 Mar 2026: ex-date for an interim dividend of ₹12 a share, record date 31 Mar 2026.

TVS Motor paid ₹12 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.28% at the ₹4,331.20 close on 4 November 2026. The last was an interim dividend of ₹12 a share, ex-date 30 March 2026.

TVS Motor dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. TVS Motor Company Ltd paid out 19% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 28 October 2026, TVS Motor's management guided: Industry ICE two- and three-wheeler good single-digit growth in H2 on high year-ago base, TVS to outgrow domestic and international through Q3-Q4.

“I think it is about 1.3-1.4% of turnover, and we have also crossed 10,000 cumulatively, so we are also receiving the 2% booster.”K N Radhakrishnan, on the call for July to September 2026

What management guided

• EV good growth to sustain in Q3 despite rising base; three-wheelers much higher Q3-Q4; scooters to 45% next year, 50% in couple years.
• Operating margin momentum to continue on revenue growth; Q3-Q4 material cost rises smaller than Q1-Q2 with stabilization or softening by Q4.
• Small early-Q3 price increases taken with further hikes under post-Diwali review balancing customer absorption.
• EV two-wheeler capacity 60,000-65,000 to expand to about 80,000 with activities underway aiding Q4; Ronin beyond 15,000 on 3-month review.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 28 October 2026.

What is changing at TVS Motor, from the latest results and calls: domestic two-wheeler share gains, exports and distribution expansion and ev and three-wheeler scale.

• Domestic two-wheeler share gains. Domestic two-wheeler sales outpaced the industry in the latest call. ✓ fact
• Exports and distribution expansion. International sales and export revenue reached a record level in the latest call. ✓ fact
• EV and three-wheeler scale. EV adoption and commercial three-wheeler volumes are expanding, with staged capacity additions planned. ✓ fact
• Premium and Norton optionality. Norton production has started and Atlas models have begun moving into Europe. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The whole thesis fails if reported growth continues but operating cash flow remains below profit while borrowings keep rising and the planned capacity additions do not translate into exports, EV volumes or margin resilience.

Each change stops working if

• Domestic two-wheeler share gains: Domestic volume growth falls below the industry for two consecutive reported quarters.
• Exports and distribution expansion: Export volume growth slows materially while capacity additions are completed.
• EV and three-wheeler scale: EV volumes fail to grow after capacity increases or contribution does not improve.
• Premium and Norton optionality: The planned launches slip again or early-market visibility does not convert into reported sales.

The main risks

• Cash conversion and debt dependence: Operating cash flow has lagged profit over the recent three-year window while borrowings increased. ⚠ estimate
• Norton execution: Norton launch timing has moved across prior calls. ⚠ estimate
• Guidance revisions: Industry-growth expectations changed materially between the May and July calls. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When TVS Motor reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: EV two-wheeler capacity ramp to flagged level - check run-rate, Orbiter availability and rural versus urban mix.

TVS Motor is on one of our India lists: Momentum stocks.

TVS Motor Company Ltd earned ₹1,219 Cr of net profit in the Sep 2026 quarter, +46.3% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹3,186 Cr. Over 10 years profit has grown 22.2% a year on average. That is 6.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹833 Cr.

For the full year, FY26 profit was ₹3,186 Cr (+33.9% on the year before).

Why profit moved: revenue changed +38.6% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +43.7% and revenue +34.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹16,296 Cr and profit ₹1,058 Cr as reported.

FY27-Q2. revenue ₹19,474 Cr and profit ₹1,219 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

TVS Motor Company Ltd reported ₹19,474 Cr of revenue in the Sep 2026 quarter, +38.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 17.3% a year on average. The last full year, FY26, came in at ₹56,070 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹65,579 Cr.

FY26 revenue was ₹56,070 Cr, +27.2% on the year before.

Recent pace: the last four quarters grew +34.0% on average, against 17.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +34.3%, against +25.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +43.3%, against +41.4% a year (stabilising).

FY27-Q1. revenue ₹16,296 Cr and profit ₹1,058 Cr as reported.

FY27-Q2. revenue ₹19,474 Cr and profit ₹1,219 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

TVS Motor Company Ltd's operating margin was 14.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 6.0% and 15.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.0 percentage points on the year while gross margin changed −3.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY27-Q1. revenue ₹16,296 Cr and profit ₹1,058 Cr as reported.

FY27-Q2. revenue ₹19,474 Cr and profit ₹1,219 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 56% of TVS Motor Company Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹1,867 Cr of operating cash against ₹3,186 Cr of profit. After ₹2,870 Cr of spending on assets, free cash was −₹1,003 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 56% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building.

TVS Motor Company Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −60 days in FY26, up from −63 days in FY21. It spent ₹7,490 Cr on assets over the last 3 years. Customers take 17 days to pay, and stock sits for 26 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Africa remains the main export growth area while LATAM and Asia are adding distribution. The Value Chain Climb applies because export mix can broaden the addressable market, but the benefit needs to appear in realized revenue and cash rather than capacity statements alone.

At FY26 sales of ₹56,070 Cr, each day of that cycle ties up about ₹154 Cr, so roughly −₹9,217 Cr is tied up in the business at any time.

FY26: customers took 17 days to pay and stock sat for 26 days, about 0.9 months of sales sitting as stock, for a full cycle of −60 days, longer than FY21's −63.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 26 days. Customers pay about 17 days after that. Suppliers are paid at 103 days. Together that makes the −60-day cycle.

Spending on assets: ₹7,490 Cr over the last 3 years, against ₹3,275 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2,072 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

TVS Motor Company Ltd's P/E is 53.4×, in the middle of its own history: higher than 54% of past readings. Its usual P/E (the middle reading) is 51.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.