TVSSCS
TVS Supply share price & financials
- Price
- ₹140.31
- Market cap
- ₹5.4k Cr
- Sector
- Services
- Calls analysed
- 8
TVS Supply Q1 FY27
What went well
- Consolidated revenue reached ₹3,335.2 crores, marking a 29% YoY growth and 10% sequential growth, the highest quarterly revenue for the company.
- Adjusted EBITDA increased 34% YoY to ₹232.2 crores, with the margin expanding 30 bps to 7%, demonstrating consistent earnings trajectory.
- Adjusted PBT showed robust growth of 70.7% YoY, reaching ₹32.1 crores, reflecting growth and operating leverage.
What to watch
- ISCS EBITDA margin was marginally lower at 8.1% in Q1 FY27, down from 8.3% in Q1 FY26, due to initial implementation costs for new contracts.
- Management highlighted the risk of a potential recession and major supply chain disruptions, though they currently do not see this risk playing out.
What TVS Supply does
TVS Supply Chain Solutions Limited, part of the TVS Mobility Group, is a tech-driven, asset-light integrated supply chain company that plans, manages and executes physical logistics on behalf of manufacturing, retail, technology, healthcare and public-sector customers. It earns fees for sourcing and procurement, inbound and in-plant logistics (line-side delivery, kitting, sub-assembly), warehousing and finished-goods/aftermarket spares fulfilment, and for arranging ocean, air, road and rail freight and customs clearance as a non-asset-owning forwarder. Its operations span owned and managed warehouse space, in-plant facilities inside customer factories, and a network of freight and courier partners across India, North America, Europe and Asia Pacific.
Segments
- ISCS (Integrated Supply Chain Solutions)
- GFS (Global Forwarding Solutions)
- Global warehouse space under management
- 25.1 million sq. ft.
- Countries of operation
- 26 countries across 4 continents (India, Europe, North America, Asia Pacific & Oceania)
- Permanent employees
- 16,500+
- Fortune Global 500 customers served
- 100
- Total active customers served
- 6,200+
- Warehouse space in India
- 19.6 million sq. ft.
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 7 delivered 2 missed 9 open- IFM Profitability delivered said Q2 FY25 Promised: Run rate profitability by end of H2 FY25 / Q4 FY25 Q1 FY27: Remains achieved. No new updates.
- North America Contract Revenue went quiet said Q2 FY25 Promised: USD 30 plus million annual billing from Q2 FY26 Q1 FY27: No mention of the contract. Continues to be ghosted.
- PBT Margin delayed said Q2 FY25 Promised: 4% PBT margin on a USD 2.5 billion revenue base in the next three years Q1 FY27: Whether we will reach that 4% in this year-end, I would say it's our aspiration. But FY '28, definitely, we will be achieving our aspiration of 4%.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 28.7%, net profit down 69.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,513 | 2,445 | 2,499 | 2,592 | 2,663 +6% | 2,716 +11% | 3,032 +21% | 3,335 +29% |
| EBITDA | 190 | 151 | 169 | 177 | 182 −4% | 206 +36% | 218 +29% | 225 +27% |
| Net profit | 11 | -24 | -4 | 71 | 16 +45% | 11 +146% | 18 +550% | 22 −69% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −1.6% 1Y
1Y: ₹132.67 on 10 Sept 2025 → ₹130.49. High ₹141.66 (10 Jul 2026), low ₹90.97 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.8%
- 11 Aug
- Q4 FY26
- +2.1%
- 26 May
- Q3 FY26
- +13.7%
- 11 Feb
- Q2 FY26
- −2.2%
- 14 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.1% a year over 3 years, FY23 to FY26. Operating margin widened to 7.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹10.1k Cr | ₹9.2k Cr | ₹10.0k Cr | ₹11.0k Cr |
| Operating profit | ₹666 Cr | ₹682 Cr | ₹692 Cr | ₹783 Cr |
| Operating margin | 6.6% | 7.4% | 6.9% | 7.1% |
| Interest | ₹187 Cr | ₹202 Cr | ₹157 Cr | ₹158 Cr |
| Depreciation | ₹508 Cr | ₹558 Cr | ₹544 Cr | ₹570 Cr |
| Net profit | ₹42 Cr | ₹-91 Cr | ₹-10 Cr | ₹116 Cr |
| Net margin | 0.4% | -1.0% | -0.1% | 1.1% |
| Cash from operations | ₹734 Cr | ₹128 Cr | ₹672 Cr | ₹746 Cr |
| Free cash flow | ₹590 Cr | ₹16 Cr | ₹511 Cr | ₹481 Cr |
| ROCE | 6.0% | 5.0% | 5.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹32 Cr | ₹36 Cr | ₹36 Cr | ₹44 Cr | ₹44 Cr | ₹44 Cr |
| Reserves | ₹459 Cr | ₹678 Cr | ₹687 Cr | ₹1.8k Cr | ₹1.9k Cr | ₹2.0k Cr |
| Borrowings | ₹2.7k Cr | ₹3.0k Cr | ₹3.3k Cr | ₹2.2k Cr | ₹2.2k Cr | ₹2.8k Cr |
| Other liabilities | ₹1.6k Cr | ₹2.0k Cr | ₹2.1k Cr | ₹1.8k Cr | ₹2.1k Cr | ₹2.4k Cr |
| Total liabilities | ₹4.9k Cr | ₹5.7k Cr | ₹6.1k Cr | ₹5.8k Cr | ₹6.3k Cr | ₹7.1k Cr |
| Fixed assets | ₹2.0k Cr | ₹2.1k Cr | ₹2.3k Cr | ₹2.4k Cr | ₹2.1k Cr | ₹2.9k Cr |
| Capital work in progress | ₹16 Cr | ₹12 Cr | ₹35 Cr | ₹12 Cr | ₹152 Cr | ₹15 Cr |
| Investments | ₹112 Cr | ₹100 Cr | ₹105 Cr | ₹93 Cr | ₹277 Cr | ₹280 Cr |
| Other assets | ₹2.8k Cr | ₹3.4k Cr | ₹3.7k Cr | ₹3.3k Cr | ₹3.8k Cr | ₹4.0k Cr |
| Total assets | ₹4.9k Cr | ₹5.7k Cr | ₹6.1k Cr | ₹5.8k Cr | ₹6.3k Cr | ₹7.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +1.26 pp while FIIs trimmed −0.98 pp. The shareholder count shrank 3% to 1,19,325.
- Promoters
- 43.0%
- FIIs
- 2.4%
- DIIs
- 2.2%
- Public
- 52.4%
Since Jun 2025
- Public +1.26 pp
- FIIs −0.98 pp
- DIIs −0.28 pp
How it drifted, 12 quarters
Over this window DIIs fell from 7.5% to 2.2% — −5.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 43.4%, FIIs 1.1%, DIIs 7.5%, Public 48.0%.Dec '23: Promoters 43.2%, FIIs 0.4%, DIIs 6.6%, Public 49.9%.Mar '24: Promoters 43.1%, FIIs 0.2%, DIIs 6.1%, Public 50.5%.Jun '24: Promoters 43.1%, FIIs 0.2%, DIIs 5.5%, Public 51.1%.Sep '24: Promoters 43.1%, FIIs 2.4%, DIIs 3.1%, Public 51.5%.Dec '24: Promoters 43.0%, FIIs 3.3%, DIIs 3.7%, Public 49.9%.Mar '25: Promoters 43.0%, FIIs 3.6%, DIIs 3.4%, Public 50.0%.Jun '25: Promoters 43.0%, FIIs 3.4%, DIIs 2.5%, Public 51.2%.Sep '25: Promoters 43.0%, FIIs 3.5%, DIIs 2.3%, Public 51.2%.Dec '25: Promoters 43.0%, FIIs 2.7%, DIIs 2.2%, Public 52.0%.Mar '26: Promoters 43.0%, FIIs 2.5%, DIIs 2.2%, Public 52.3%.Jun '26: Promoters 43.0%, FIIs 2.4%, DIIs 2.2%, Public 52.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Senapathy Gopalakrishnan newly disclosed 1.05% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of TVS Supply above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tvs Mobility Private Limited | 24.32% | unchanged |
| T S Rajam Rubbers Private Limited | 14.87% | unchanged |
| Lingotto Alternative Investments Master Fund Icav - Lingotto Special Opportunities Master Fund | 9.65% | unchanged |
| Mahogany Logistics Services Private Limited | 8.50% | unchanged |
| Tvs Motor Company Limited | 5.76% | unchanged |
| Mahogany Singapore Company Pte. Ltd. | 4.27% | unchanged |
| Sunil Kant Munjal | 3.38% | unchanged |
| SBI Life Insurance Co. Ltd Insurer | 2.01% | unchanged |
| R Dinesh | 1.63% | unchanged |
| Dhinrama Mobility Solution Private Limited | 1.20% | unchanged |
| Senapathy Gopalakrishnan | 1.05% | newly disclosed |
| R Haresh | 0.31% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (8)
Read the Q1 FY27 call →Learn to analyse TVS Supply
Guides on how to read this kind of business and the numbers that matter.