Dear Shareholders,
This year has been a landmark year for TVS Motor Company, marking a transformative chapter in our journey toward excellence and reflecting our ongoing dedication to sustainable and aspirational mobility solutions internationally
Users of TVSM vehicles across
the world
One of the largest manufacturers of
two-wheelers globally
TVSM products consistently lead their segments in customer satisfaction surveys.
Countries marking our global presence
First two-wheeler company in India with all plants
certified by Japan Institute of
Plant Maintenance
Highest-ever total Revenue 
13.73%
Operating free cash flow
Highest-ever profit 30.49%
Market capitalisation as on
31st March, 2025
Highest-ever EBITDA margin 1.2%
Earnings per share
Emissions avoided
CSR beneficiaries
Water recycled
Women in the workforce
Renewable energy used in Indian operations
Differently-abled employees
ET Lifetime Achievement Award for Mr. Venu Srinivasan, Chairman Emeritus of TVSM, for his contributions to Indian manufacturing by ET Awards for Corporate Excellence.
Mr Sudarshan Venu, MD of TVSM, was honoured with India's best CEO award in Manufacturing and Retail Excellence Category by Business Today. He also featured in the list of India’s best CEOs by Fortune and Business World magazines.
Explore MoreFrom global launches and new market entries to creating memorable customer experiences, the year was marked with frenetic activity that kept us energised. TVSM's leadership was honoured for driving purpose-led growth with vision and conviction.
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TVSM delivers class-leading mobility solutions and a superior ownership experience across one of the widest customer segments in the industry.
Explore MoreHighest-ever sales – 2W & 3W
(15% y-o-y growth)
Highest-ever EV sales
(45% y-o-y growth)
TVSM views mobility as a holistic experience that extends well beyond the ride. To strengthen this promise, the Company continues to enhance its service ecosystem through an extensive support network, intuitive digital platforms, and connected technologies. With a focus on reliable maintenance, transparent processes, and customer convenience, TVSM is reimagining aftersales to build ever lasting trust and deliver superior ownership experiences.
The TVS Care Advantage
Authorised service centres
Certified technicians
Cities connected nationwide
of customer care expertise
TVSM strives to transform the lives of people across the world by providing mobility solutions that are exciting, responsible, safe, and sustainable. Its global growth is powered by an innovation-driven culture, focus on speed and agility, high-quality scalable technology platforms, and a commitment to sustainability.
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This year has been a landmark year for TVS Motor Company, marking a transformative chapter in our journey toward excellence and reflecting our ongoing dedication to sustainable and aspirational mobility solutions internationally
It is with excitement and gratitude that I present the performance of TVSM for FY 2024-25 – a landmark year that delivered record-breaking results.
This milestone year reflects more than commercial success – it is a result of our enduring commitment to technological innovation and manufacturing excellence that is firmly embedded in our DNA.
Over the past decade, TVSM has not only transformed into a global mobility player but has also delivered superior risk-adjusted total shareholder returns — capital appreciation and dividends.
Explore MoreReturns to shareholders over a decade of stellar growth
Total shareholder return and
share price increase (10-year
CAGR)
FY 2015-2025
TVSM is accelerating its journey as a global mobility leader with a sharp focus on EVs, premiumisation of its brand and products, and building strategic partnerships.
Explore MoreCountries where TVSM's products are sold
Contribution of exports to the Company’s revenues
At the Bharat Mobility Global Expo 2025, TVSM showcased a comprehensive range of mobility solutions that reflected its bold vision for sustainable and intelligent transportation. From the world’s first CNG scooter to India’s first Android Auto-integrated electric two-wheeler, the exhibit underscored TVSM’s commitment to innovation across platforms, powertrains, and technologies.
Explore MoreIn today’s dynamic business landscape, sustainability is central to long-term success and resilience. TVSM believes that by embedding sustainable practices into every facet of its operations, it is not only safeguarding its future but also enhancing its reputation, ensuring compliance, and driving superior financial performance.
The Company’s Sustainability Framework is a blueprint that integrates sustainability into every aspect of the business.
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To create a Net Positive Impact by responsible consumption, efficient utilisation and conservation of resources
Material topics: Climate change and decarbonisation | Water management | Biodiversity
SDG’s
To transform exciting mobility solutions through innovative, safe, accessible, affordable product & services
Material topics: Circular economy | Product stewardship | Market/product competition | Alternate engines of growth
SDG’s
To harness the power of digital innovation for excellent customer experience, optimise operational efficiency and be the partner of choice across the value chain
Material topics: Cybersecurity | Data protection
SDG’s
To build a robust foundation of ethical governance and risk management that drives safe & sustainable growth
Material topics: Corporate governance | Integrated risk management | Supply chain
In a fast-evolving mobility ecosystem, TVSM has made R&D its cornerstone, fueling innovation, sustainability, and user-centric technology. TVSM’s consistent focus on R&D and its ‘road-to-track’ philosophy culminate in a strong product pipeline.
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Recyclable parts in the current product range
Recoverable parts
At TVSM, environmental sustainability is a core pillar of the Company’s long-term business strategy and operational philosophy. As a responsible corporate citizen, TVSM is committed to minimising its ecological footprint, conserving natural resources, and accelerating its journey towards a circular and low-carbon economy.
Rooted in a legacy of precision engineering and performance, TVSM fosters a work culture where safety, inclusivity, and continuous learning are prioritised. By nurturing talent and prioritising employee well-being, TVSM aspires to be an employer of choice and a benchmark in sustainable business practices.
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TVSM’s approach to customer satisfaction is rooted in understanding consumer needs and delivering consistently high standards of service. Customer satisfaction is the cornerstone of every decision, guiding the design and delivery of both products and services. Every interaction with the customer is seen as an opportunity to build trust and in FY 2024-25, several targeted initiatives were launched across geographies to enhance customer experience and build trust.
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The Company has institutionalised a Sustainable Supplier Code of Conduct, setting clear expectations around environmental compliance, human rights, and ethical sourcing. Suppliers are rigorously screened based on their business relevance, ESG risks and spend volume.
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TVSM is committed to promoting enduring relationships with communities, partners, and customers. Its holistic CSR initiatives are spearheaded by the Srinivasan Services Trust (SST), which has been driving meaningful change in rural India. Working in 2,500 villages across the country, SST champions sustainable development through its distinctive approach of Total Community Involvement (TCI).
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At TVSM, governance is viewed as a strategic enabler of long-term value. The Company has institutionalised forward-looking oversight across environmental, social, and business risks. Backed by structured systems and specialised committees, its governance framework ensures clarity, accountability, and responsiveness at every level.
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The Directors have the pleasure of presenting the 33rd Annual Report and the Company’s audited accounts for the year ended 31st March 2025.
Explore MoreTotal units (2Ws+3Ws) sold during
FY 2024-25
(15% y-o-y growth)
All-time high revenue
All-time high PBT
Responsible Social Licence to Operate
To foster a culture of safety, diversity, inclusivity, and continuous learning in order to continue being an employer of choice and reaffirm the social licence to operate
Material topics: Human capital development | Employee attraction and retention | Diversity and Inclusion | Human Rights | Occupational health and safety | Policy safety | Road safety
SDG’s