# TVS Motor share price today (TVS Motor Company Ltd, NSE: TVSMOTOR)

> TVS Motor share price today: ₹4,303.20 at the NSE close on 3 November 2026, up 22.6% in a year. TVS Motor Company (NSE: TVSMOTOR) is worth ₹2,04,450 crore, trades at a P/E of 53.0 and has closed between ₹3,312.80 and ₹4,440.90 over the past 52 weeks. > TVS Motor Company Ltd's earnings have grown faster than its share price. Earnings per share grew +35.0% in a year while the price moved +22.6%. TVSMOTOR · Auto - 2 & 3 Wheelers · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/tvs-motor-company-ltd

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## Key numbers

- Business trend: Growing steadily, from fewer quarters than usual
- Price: ₹4,303.20 (+22.6% in a year)
- P/E: 53.0× (higher than 54% of the last 11 years)
- Revenue (Sep 2026): ₹19,474 Cr (+38.6% on a year ago)
- Profit (Sep 2026): ₹1,219 Cr (+46.3% on a year ago)
- Operating margin: 14.0% (−1.0 points on a year ago)
- ROCE: 17%, FY26
- Profit that came in as cash: 56%, last 3 years

The main question: profits are rising, but only 56% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the TVS Motor share price today? TVS Motor Company Ltd's share price was ₹4,303.20 at the close on 3 November 2026. It has been rising for 15 weeks. That is 12.9% 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 88% of the way up from that low. 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 +1,528% 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. ## What changed at TVS Motor this quarter? 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. ## What are TVS Motor's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹19,474 crore | ₹14,051 crore | +38.6% |
| Profit | ₹1,219 crore | ₹833 crore | +46.3% |
| Earnings per share | ₹25.14 | ₹16.74 | +50.2% |
| Operating margin | 14.0% | 15.0% | −1.0 points |

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.)

## What is the TVS Motor share price history? TVS Motor closed at ₹4,303.20 on 3 November 2026, up 22.6% from ₹3,508.70 a year earlier (31 October 2025) and up 507.2% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹3,980.20 | +8.1% |
| 1 month ago · 1 Oct 2026 | ₹4,021.00 | +7.0% |
| 6 months ago · 30 Apr 2026 | ₹3,492.90 | +23.2% |
| 1 year ago · 31 Oct 2025 | ₹3,508.70 | +22.6% |
| 3 years ago · 3 Nov 2023 | ₹1,599.10 | +169.1% |
| 5 years ago · 4 Nov 2021 | ₹708.75 | +507.2% |
| 10 years ago · 4 Nov 2016 | ₹392.70 | +995.8% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹264.40 | +1,527.5% |
| Highest weekly close since February 2016, also the 52-week high · 7 Aug 2026 | ₹4,440.90 | −3.1% |
| Lowest weekly close since February 2016 · 3 Apr 2020 | ₹252.95 | +1,601.2% |
| 52-week low (weekly close) · 12 Jun 2026 | ₹3,312.80 | +29.9% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (565 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on TVS Motor? 3 Nov 2026: TVS Motor closed at ₹4,303.20, up 8.1% on the week and up 7.0% 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. ## What dividend does TVS Motor pay? TVS Motor paid ₹12 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.28% at the ₹4,303.20 close on 3 November 2026. The last was an interim dividend of ₹12 a share, ex-date 30 March 2026. ### TVS Motor dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 30 Mar 2026 | ₹12 | Interim | 31 Mar 2026 |
| 26 Mar 2025 | ₹10 | Interim | same day |
| 19 Mar 2024 | ₹8 | Interim | same day |
| 2 Feb 2023 | ₹5 | Interim | same day |
| 25 Mar 2022 | ₹3.75 | Interim | 28 Mar 2022 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did TVS Motor management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/4352-28-Oct-2026.pdf). (From the call for July to September 2026, 28 October 2026.)

## What is the future of TVS Motor? What is changing in the business? 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.)

## What could change the TVS Motor story? What are the risks? 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.)

## What to watch in TVS Motor's next results? 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. - What to check (from the call)
- EV two-wheeler capacity ramp to flagged level - check run-rate, Orbiter availability and rural versus urban mix. - Demerger and NBFC consolidation sequencing to appointed date - check shareholder, regulatory and NCLT progress against flagged timeline. ## Which stock lists is TVS Motor on? TVS Motor is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 200154.65698893977](https://www.sectoralpha.in/momentum-stocks-india)

## Is TVS Motor profitable? 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. 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. ## How much revenue does TVS Motor make, and is it growing? 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. 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. ## How much of every ₹100 of sales does TVS Motor keep? 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. 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. ## Is TVS Motor's profit turning into cash? 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. 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. ## Where does TVS Motor's cash go? 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. 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. ## What is TVS Motor's P/E ratio, and how does it compare with its own history? TVS Motor Company Ltd's P/E is 53.0×, 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. Why the multiple is where it is: over the past year earnings per share moved +35.0% while the price moved +22.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +43.4% a year; about +35.5% a year came from earnings growth and about +7.9 percentage points from the multiple (the market paying more); over 10 years the price moved +27.0% a year; about +25.7% a year came from earnings growth and about +1.3 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the TVS Motor share price assume? Worked out from its price on 26 August 2026, TVS Motor Company Ltd's share price assumed profit growth of about 29.5% a year. Over the past 10 years its profit actually grew 22.2% a year. Today its P/E is 53.0×, higher than 54% of its own last 11 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the TVS Motor business getting better or worse? TVS Motor Company Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: steady growth with healthy returns is how a business compounds over time. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the TVS Motor story, and has it been checked? TVS Motor Company Ltd's story is not scored yet against the checks our research set on 22 August 2026. Our read, 22 August 2026. From the numbers. The weekly cycle label signals an emerging opportunity only in the…

From the price. Price stage 2, week 15, above its 200-day line, relative strength rising. From the research. Where they disagree. What is proven. What is not proven yet. 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. What would change our mind. 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. The test written in advance. 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. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Cash conversion and debt dependence. Measured by: Cash conversion and debt dependence Three-year operating-cash conversion remains below profit and borrowings increase again at the next annual result. by the next result. What the company does. The latest reported quarter extended the revenue and profit run-rate, with domestic two-wheelers, exports, EVs and three-wheelers cited as contributors. Capacity additions and premium products create identifiable execution milestones, while Norton remains a launch-and-acceptance option rather than a proven earnings leg. What the surface reading misses. The surface reading is: Reported profit growth indicates accelerating earnings. What the surface reading misses. The research reads it further: The deterministic cycle normalization shows current margin above the mid-cycle estimate, so current earnings contain a margin benefit rather than a trough penalty. Lever 10 · New geographies: building. International sales and export revenue reached a record level in the latest call. What proves it keeps working: Exports and distribution expansion. It stops working if Export volume growth slows materially while capacity additions are completed. Lever 2 · Value-added mix: building. Norton production has started and Atlas models have begun moving into Europe. What proves it keeps working: Premium and Norton optionality. It stops working if The planned launches slip again or early-market visibility does not convert into reported sales. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did TVS Motor management deliver what it promised? What TVS Motor Company Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Norton India Launch Timeline · 28 October 2026. The July 2026 call stated that the four initial Norton models had been launched in India. The October 2026 call instead said the India launch was still expected in the forthcoming months, creating a material and unexplained reversal in launch status. FY27 Industry Growth Outlook Raised Without Reconciliation · 21 July 2026. In May 2026, management guided to good single-digit industry growth for FY27, but in July 2026 it shifted to minimum double-digit growth for Q2 and double-digit growth for the full year. Commodity Inflation Magnitude - Unprecedented Step Change · 13 May 2026. In both the Oct 2025 and Jan 2026 calls, management described total commodity basket inflation as 0.4% to 0.6% of revenue and treated it as contained and manageable through pricing and scale benefits. The May 2026 call labels the same environment as 'somewhat unprecedented' at 3-5% of revenue - a 5 to 10 times increase in stated magnitude - with no detailed explanation for this step change beyond general geopolitical references that were already present in prior periods. Norton India Launch Timeline Slippage · 13 May 2026. The Oct 2025 call committed explicitly to launching Norton products in India by April 2026, and the Jan 2026 call reinforced that these products would hit the market in 2026 this year, consistent with the April goal. The May 2026 call offers no acknowledgement of the missed April 2026 deadline or any explanation for the delay, instead framing Q2 FY27 (July-September 2026) as the critical launch window - representing at least a three to six month undisclosed slip with no justification provided. Every quote above is taken word for word from the company’s own earnings calls. ## How much does TVS Motor earn on its capital? TVS Motor Company Ltd earned a ROCE of 17% in FY26. That is up from a low of 11% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 5.7% net margin and 1.00× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.7% net margin × 1.00× asset turnover × 5.87× leverage (assets divided by equity) ≈ 33.5% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does TVS Motor have too much debt? TVS Motor Company Ltd had ₹32,791 Cr of borrowings against ₹9,565 Cr of equity in FY26, so its debt is 3.43× its equity. Its operating profit is 4 times its interest bill. Over 5 years borrowings went from ₹12,179 Cr to ₹32,791 Cr. Over the last 3 of those years it spent ₹7,490 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the TVS Motor shareholding pattern? Domestic institutions raised their stake in TVS Motor Company Ltd by 1.3 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 20.3% of the company. Foreign institutions moved −0.9 points over the same period, to 21.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +1.3 points over 8 quarters, to 20.3%; Foreign institutions: −0.9 points over 8 quarters, to 21.4%; Promoters: +0.0 points over 8 quarters, to 50.3%. Why the owners changed: domestic institutions drove it (+1.3 points), with the other side taken by foreign institutions (−0.9 points). They raised their stake step by step. ## How far is TVS Motor from balance-sheet trouble? For TVS Motor Company Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does TVS Motor rank in its industry? 62.4 out of 100, rank 1 of 8 in Auto - 2 & 3 Wheelers, with 82% of the evidence available. TVS Motor Company Ltd scores 62.4 out of 100 against the 8 companies it is compared with in Auto - 2 & 3 Wheelers, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 22.4 + 15.8 + 8.4 + 15.8 = 62.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is TVS Motor compared with? TVS Motor ranks 1 of 8 Auto - 2 & 3 Wheelers companies on the 4-Factor Sector Score, with 62.4 out of 100. 1. TVS Motor Company Ltd this page TVSMOTOR · losing its lead · Evidence leans up · 82% evidence 62.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 34.3% · Profit 43.3% · Operating margin change -1 points · 95% evidence Capital efficiency 15.8/25 · ROCE 17.4% · Operating margin 14% · 76% evidence Valuation 8.4/20 · P/E 51.7× · PEG n/a · 50% evidence Relative strength 15.8/20 · Lead over its industry 4.9% · Lead over NIFTY 500 17.2% · 1 year 19.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 22.4 + 15.8 + 8.4 + 15.8 = 62.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Ather Energy Ltd](https://www.sectoralpha.in/stocks/ather-energy-ltd) ATHERENERG · leader · Evidence leans up · 71% evidence 61.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.8/35 · Revenue 68.5% · Profit 69.4% · Operating margin change 15.5 points · 74% evidence Capital efficiency 3.5/25 · ROCE -19.8% · Operating margin 0.8% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 20.0/20 · Lead over its industry 65.7% · Lead over NIFTY 500 81.8% · 1 year 153.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.8 + 3.5 + 10 + 20 = 61.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Hero MotoCorp Ltd](https://www.sectoralpha.in/stocks/hero-motocorp-ltd) HEROMOTOCO · losing its lead · Evidence leans up · 85% evidence 60.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.4/35 · Revenue 27% · Profit 13.7% · Operating margin change -1 points · 100% evidence Capital efficiency 20.8/25 · ROCE 35.2% · Operating margin 13% · 100% evidence Valuation 13.2/20 · P/E 17× · PEG 1.96 · 100% evidence Relative strength 9.6/20 · Lead over its industry n/a · Lead over NIFTY 500 1% · 1 year -6.8% · 25% evidence · 10 of 12 weeks ahead Exact sum: 16.4 + 20.8 + 13.2 + 9.6 = 60 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Bajaj Auto Ltd](https://www.sectoralpha.in/stocks/bajaj-auto-ltd) BAJAJ-AUTO · losing its lead · Evidence leans up · 87% evidence 59.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Revenue 47.9% · Profit 53.8% · Operating margin change 1 points · 95% evidence Capital efficiency 20.6/25 · ROCE 28.2% · Operating margin 19% · 95% evidence Valuation 7.6/20 · P/E 21.7× · PEG n/a · 50% evidence Relative strength 8.4/20 · Lead over its industry -3.2% · Lead over NIFTY 500 8% · 1 year 16.4% · 100% evidence · 8 of 12 weeks ahead Exact sum: 23.2 + 20.6 + 7.6 + 8.4 = 59.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Eicher Motors Ltd](https://www.sectoralpha.in/stocks/eicher-motors-ltd) EICHERMOT · quiet · Evidence leans up · 78% evidence 56.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 28.1% · Profit 19.4% · Operating margin change 0 points · 83% evidence Capital efficiency 20.4/25 · ROCE 30.5% · Operating margin 24% · 76% evidence Valuation 10.6/20 · P/E 34.1× · PEG n/a · 50% evidence Relative strength 6.7/20 · Lead over its industry -7.8% · Lead over NIFTY 500 3.3% · 1 year 3% · 100% evidence · 4 of 12 weeks ahead Exact sum: 18.8 + 20.4 + 10.6 + 6.7 = 56.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Atul Auto Ltd](https://www.sectoralpha.in/stocks/atul-auto-ltd) ATULAUTO · quiet · Evidence leans down · 75% evidence 42.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.2/35 · Revenue 26.2% · Profit 100% · Operating margin change -4 points · 95% evidence Capital efficiency 10.4/25 · ROCE 11.3% · Operating margin 5.2% · 76% evidence Valuation 9.7/20 · P/E 24.6× · PEG n/a · 15% evidence Relative strength 0.0/20 · Lead over its industry -17% · Lead over NIFTY 500 -7.1% · 1 year -16.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.2 + 10.4 + 9.7 + 0 = 42.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Ola Electric Mobility Ltd](https://www.sectoralpha.in/stocks/ola-electric-mobility-ltd) OLAELEC · basing · Too little evidence to rank firmly · 53% evidence 31.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.3/35 · Revenue -49.2% · Profit 26.1% · Operating margin change -7 points · 65% evidence Capital efficiency 0.0/25 · ROCE -19.9% · Operating margin -36% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 8.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.5% · 1 year -33.8% · 25% evidence · 0 of 12 weeks ahead Exact sum: 13.3 + 0 + 10 + 8.5 = 31.8 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Munjal Showa Ltd](https://www.sectoralpha.in/stocks/munjal-showa-ltd) MUNJALSHOW · Most evidence points down · 76% evidence 30.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.7/43.75 · Revenue 12.4% · Profit 0% · Operating margin change 0.1 points · 88% evidence Capital efficiency 7.1/31.25 · ROCE 4.5% · Operating margin 0.7% · 100% evidence Valuation 9.3/25 · P/E 18.8× · PEG 2.12 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 13.7 + 7.1 + 9.3 = 30.1 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Auto - 2 & 3 Wheelers](https://www.sectoralpha.in/sectors/auto-2-3-wheelers), all 8 compared on one page. ## Which companies are close to TVS Motor in size? TVS Motor is the 2nd largest of 8 Auto - 2 & 3 Wheelers companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Bajaj Auto. Just below it: Eicher Motors, Hero MotoCorp, Ather Energy, Ola Electric Mobility and Atul Auto. ### Auto - 2 & 3 Wheelers companies close in size

1. [Bajaj Auto Ltd](https://www.sectoralpha.in/stocks/bajaj-auto-ltd) ₹2,84,422 crore
2. TVS Motor Company Ltd ₹1,99,309 crore
3. [Eicher Motors Ltd](https://www.sectoralpha.in/stocks/eicher-motors-ltd) ₹1,98,205 crore
4. [Hero MotoCorp Ltd](https://www.sectoralpha.in/stocks/hero-motocorp-ltd) ₹1,03,424 crore
5. [Ather Energy Ltd](https://www.sectoralpha.in/stocks/ather-energy-ltd) ₹69,693 crore
6. [Ola Electric Mobility Ltd](https://www.sectoralpha.in/stocks/ola-electric-mobility-ltd) ₹16,586 crore
7. [Atul Auto Ltd](https://www.sectoralpha.in/stocks/atul-auto-ltd) ₹1,128 crore

[All 8 Auto - 2 & 3 Wheelers companies, largest first](https://www.sectoralpha.in/sectors/auto-2-3-wheelers#all-companies)

### Companies close in size in other industries

1. [Avenue Supermarts Ltd](https://www.sectoralpha.in/stocks/avenue-supermarts-ltd) ₹2,08,674 crore · Retail - Departmental Stores
2. [Grasim Industries Ltd](https://www.sectoralpha.in/stocks/grasim-industries-ltd) ₹2,02,895 crore · Diversified
3. TVS Motor Company Ltd ₹1,99,309 crore
4. [Hindalco Industries Ltd](https://www.sectoralpha.in/stocks/hindalco-industries-ltd) ₹1,98,812 crore · Aluminium
5. [Eicher Motors Ltd](https://www.sectoralpha.in/stocks/eicher-motors-ltd) ₹1,98,205 crore · Auto - 2 & 3 Wheelers

## What else do people ask about TVS Motor? ### What is TVS Motor's share price today? TVS Motor Company Ltd's share price is ₹4,303.20, +22.6% over the past year. The whole company is worth ₹2,04,450 Cr on the market. In the last 52 weeks it traded between ₹3,313 to ₹4,441; today it is 88% of the way up from the low, 12.9% above its 200-day average (as of 3 November 2026). ### What were TVS Motor's latest quarterly results? TVS Motor Company Ltd reported revenue of ₹19,474 Cr and net profit of ₹1,219 Cr for the Sep 2026 quarter. Revenue rose 38.6% and profit rose 46.3% compared with a year earlier. Earnings per share were ₹25.14. The operating margin was 14.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is TVS Motor's market cap? TVS Motor Company Ltd's market capitalisation is ₹2,04,450 Cr at a share price of ₹4,303.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is TVS Motor performing? TVS Motor Company Ltd's share price has been rising for 15 weeks. In its latest quarter, revenue rose 38.6% and profit rose 46.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 19 weeks running (as of 3 November 2026). ### Will TVS Motor's share price go up? This page does not forecast TVS Motor Company Ltd's share price. What it shows instead: the share price is ₹4,303.20, and it has been rising for 15 weeks. Its P/E of 53.0× is higher than 54% of its own last 11 years (as of 3 November 2026). ### Who owns TVS Motor? Promoters own 50.3% of TVS Motor Company Ltd, foreign institutions 21.4%, domestic institutions 20.3% and the public 8.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 1.3 percentage points over 8 quarters (as of 3 November 2026). ### Where is TVS Motor in its business cycle? TVS Motor Company Ltd's FY26 operating margin was 15.0%, against a 13-year range of 6.0% to 15.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 14.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the TVS Motor story? The main question: profits are rising, but only 56% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is TVS Motor a stock worth studying right now? What the numbers show: TVS Motor Company Ltd's earnings have grown faster than its share price. Earnings per share grew +35.0% in a year while the price moved +22.6%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a TVS Motor share price forecast for 2026? What management itself 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. 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. What would change the story: 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. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

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