Analysts/Institutional Investor Meet/Con. Call Updates

4th November 2026 BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Bandra-Kurla Complex, Mumbai 400 001. Bandra (E), Mumbai 400 051. Scrip code: 532343 Scrip code: TVSMOTOR Dear Sir(s)/ Madam, Reg : Compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 In continuation to our intimations dated 21st October 2026 and 28th October 2026 with respect to the schedule of a conference call with 360 ONE Capital Market Private Limited (Formerly Batlivala & Karani Securities India Pvt Ltd) post results for the quarter ended 30th September 2026 and intimation on the audio recording, respectively, we wish to inform that the transcript of the said recording is enclosed and the same has been hosted on the website of the Company and is available at: https://www.tvsmotor.com/en/Investors/Communication We also enclose the said transcript for your reference. Kindly acknowledge the receipt. Thanking you, Yours faithfully, For TVS MOTOR COMPANY LIMITED K S Srinivasan Company Secretary Encl.:a/a Website: www.tvsmotor.com Email: contactus@tvsmotor.com CIN: L35921TN1992PLC022845(cid:1) “TVS Motor Company Limited Q2 FY27 Earnings Conference Call” October 28, 2026 MANAGEMENT: MR. K.N. RADHAKRISHNAN – DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. K. GOPALA DESIKAN – CHIEF FINANCIAL OFFICER MODERATOR: MR. ANNAMALAI JAYARAJ – 36O ONE CAPITAL MARKET RESEARCH Page 1 of 17 TVS Motor Company Limited October 28, 2026 Moderator: Ladies and gentlemen, good day, and welcome to TVS Motor Company Limited Q2 FY '27 Earnings Conference Call hosted by 360 ONE Capital Market Research. As a reminder, all participants line will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Annamalai Jayaraj from 360 ONE Capital Market Research. Thank you, and over to you, sir. Annamalai Jayaraj: Thank you. Welcome to TVS Motor Company Q2 FY '27 Post Results Conference Call. From TVS Motor management, we have with us today Mr. K. N. Radhakrishnan, Director and Chief Executive Officer; and Mr. K. Gopala Desikan, Chief Financial Officer. We start the proceedings with the opening remarks by Mr. K. N. Radhakrishnan to be followed by the question-and-answer session. Over to you, sir. K. N. Radhakrishnan: Good evening. Good evening, everyone, and thanks for joining us today. First of all, festive season, greetings to all of you, all family members and everyone present. We are delighted to share that during this quarter, we achieved the highest ever sales volume, revenue and profits. The sales volume grew from 1.5 million units to 1.9 million units, 27% growth. Revenue grew from INR11,905 crores to INR17,103 crores, 44% growth. EBITDA grew from INR1,507 crores to INR2,219 crores 47% growth. PBT grew from INR1,224 crores to INR1,865 crores, 52% growth. Profit after tax grew from INR 904 crores to INR 1,377 crores, again, 52% growth. We sincerely thank all our customers for this significant achievement and milestone. Before I get into details of second quarter results, I would like to recollect that during the last AGM, our Chairman addressed to the shareholders highlighting the sustained investments made by the company in building and nurturing consumer finance and related businesses and that the company may at appropriate time, guided by the long-term strategic considerations, evaluate alternatives, including a possible separation of the business to further strengthen and unlock shareholder value. In this regard, I'm delighted to share that the Board of Directors of TVS Motor today have approved a scheme of demerger of the consumer finance and the related business undertaking from TVS Motor. This will help unlock significant shareholder value through a focused platform for the group's consumer finance and related businesses. It also provides greater strategic autonomy, sharper capital allocation and enhanced flexibility to pursue sector opportunities. The shareholders will participate in the future growth of both mobility and financial services businesses. The demerged businesses will benefit from India's rapidly expanding financial services sector. Now let me get into more details about the second quarter of this financial year. Q2, when we look at the 2-wheeler demand, domestic ICE grew by 16% compared to last year and against an industry growth of 10%. The 2-wheeler international market ICE sales grew by 33% over last year as against industry growth of 27%. Total 2-wheeler ICE sales grew by 20% compared to Q2 of last year. Page 2 of 17 TVS Motor Company Limited October 28, 2026 This is against an industry growth of 14%. 2-wheeler domestic EV sales grew by 129% compared to Q2 of last year, and this is against the industry growth of 84% the sales of 3- wheelers grew by 47% compared to Q2 of last year and against an industry growth of 26%. So, all sectors, TVS has done much better than the industry in Q2. And in terms of financial performance during the quarter, company posted its highest EBITDA of INR2,219 crores with a growth of 47% from the second quarter '26-'27 as against EBITDA of INR1,507 crores in the second quarter of '25-'26. Company's EBITDA margin improved by 30 basis points. Now it's at 13% during the quarter ended September 2026 as against 12.7% in the quarter ended September 2025. Company posted highest PBT, INR1,865 crores, recording a growth of 52% for the second quarter of '26-'27 as against INR1,224 crores in the second quarter of '25-'26. During the current quarter, the company's profit after tax grew by 52%, and it is at INR1,377 crores as against INR904 crores during the second quarter of last year. Now coming to H1 financial performance. The first half of this year, the operating revenue grew by 41% and is almost INR30,999 crores as against INR21,986 crores during last year first half. Profit before tax for the first half of the year grew by 52%, and it is at INR3,454 crores as against INR2,274 crores during the first half of last year. Profit after tax grew by 52% and it is at INR2,551 crores during the first half of the year against INR1,679 crores during the first half of last year. On international business, we have recorded highest ever international business sales of 5.39 lakh units, reflecting 35% year-on-year growth. The performance was driven by sustained demand across key international markets and continued strengthening our distribution. Africa continues to be a key driver, supported by other markets like LATAM, also Asia. So every market has done well, and we have grown ahead of the industry in every market. 3-wheeler also international market has done extremely well. And 3-wheeler, we are also ramping up much faster. You will see much higher growth from TVS in quarter 3 and quarter 4. As you know, we remain focused on strengthening our international footprint through market expansion, product portfolio enhancement and deeper channel engagement while continuing to capitalize on the growth opportunities across emerging export markets. We also started EV in the international market, and we started last year, and it is doing extremely well. Now in Q2, we have done about 6,930 units. And when you compare with last year, last year, of course, was the beginning. We have done last year about 1,726 units. And I'm very sure EV 2-wheeler will do extremely well in the international market. We are also now commencing EV 3-wheeler in the international market. Now recently, in this quarter, we have also launched TVS Orbiter and TVS NTORQ 150 in Nepal, TVS King EV Max and TVS Orbiter in Sri Lanka. We have also brought the next generation of Apache performance to Sri Lanka. whole range of [Showing first 8,000 characters — download PDF for full document]