TVS Motor Records Strong Sales Growth in FY25

Market Performance

TVS Motor Company's share price increased 3 percent to Rs 2,511 on April 2, 2025. Over the past month, it has climbed 10 per cent.

Sales Performance

TVS Motor achieved its highest-ever annual sales in the financial year 2024-25, with total sales reaching 4.74 million units, marking a 13 percent growth compared to the previous year. The momentum continued in March 2025, as total sales surged 17 percent year-on-year to 4,14,687 units.

Two-Wheeler Segment

• Sales in the two-wheeler segment increased by 16 per cent in March 2025, reaching 4,00,120 units.
• Motorcycles registered a 15 per cent growth, totalling 1,96,734 units.
• Scooters saw a substantial rise of 27 per cent, with 1,66,297 units sold.
• Domestic two-wheeler sales experienced a 14 per cent increase.

Electric Vehicles

• The company's electric vehicle (EV) segment continued to expand, recording a 77 per cent growth in March 2025 with 26,935 units sold.

Three-Wheeler Segment

• Three-wheeler sales grew by 44 per cent in March 2025.

Exports

• International sales significantly increased overall growth, with exports rising by 23 per cent in March 2025.
• For the fourth quarter of FY25, total exports surged by 31 per cent.
• Over the full financial year, exports grew by 18 per cent.

Strategic Business Developments

TVS Motor's Singapore-based subsidiary, TVSM, exited its investment in ION Mobility Pte Ltd, a Singapore-registered EV startup. The divestment involved selling its stake in ION Mobility while acquiring selected assets from the company. Based on an independent valuation report, the transaction was valued at approximately $1.75 million.

ION Mobility accounted for about 1.10 per cent of TVS Motor's consolidated net worth in FY24. However, it was not consolidated on a line-by-line basis as an associate company. The sale was completed on March 31, 2025, with ION Mobility and its promoter, Chan Lianghong James, acquiring the stake. Following this transaction, ION Mobility is no longer an associate entity of TVSM Singapore or TVS Motor. The company clarified that the transaction was conducted at arm's length and does not qualify as a related-party deal.

Summary

TVS Motor concluded FY25 with its best-ever sales performance, driven by growth across two-wheeler, three-wheeler, and electric vehicle segments. The company's international presence also contributed to its expansion, particularly in exports. Additionally, TVS Motor restructured its business portfolio by divesting its stake in ION Mobility while acquiring select assets, ensuring strategic alignment with its growth objectives.