India · Delayed Price · Currency is INR TVS Supply Chain Solutions Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 delivered double-digit revenue growth, strong margin expansion, and a turnaround to profitability, led by robust India and Europe performance and new business wins. Strategic acquisition in FMCG and cost initiatives support future growth and margin targets.
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Q2 FY26 saw 6% YoY revenue growth and 54% PAT increase, led by ISCS margin expansion and strong new business wins. GFS segment faced pricing headwinds but showed sequential improvement, while Project One and a robust order pipeline support future growth.
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Q1 FY2026 saw revenue and profitability growth, driven by cost discipline and strategic initiatives. Project One restructuring and a one-time gain from TVS ILP boosted results, while GFS segment remains challenged by macro volatility. The company targets 4% PBT by Q4 FY2027.
Fiscal Year 2025
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FY25 saw a turnaround to profitability with 8.6% revenue growth, strong North America and India performance, and a profitable IFM business. Strategic cost actions and a robust order pipeline support double-digit growth and margin improvement targets for FY26-FY27.
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Q3 FY25 saw 10% revenue growth but a PBT loss due to UK project delays and lower volumes. Management expects profitability to normalize after Q4, with strong order pipeline and cost initiatives supporting medium-term growth targets.
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Q2 FY25 saw 11% year-over-year revenue growth and improved profitability, driven by strong ISCS performance and new contract wins. NSS margin recovery is on track, with IFM turnaround expected by Q4. The company targets mid-teens revenue growth and stable margins in coming years.
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Revenue grew 10.9% year-on-year to INR 2,539.4 crores, with profit-led growth in both ISCS and Network Solutions. Strong business development, large contract wins, and AI-driven initiatives support a positive outlook, while Red Sea surcharges and material cost changes impact margins.