Summary of Key Information:
Reporting Period (Quarter/Year): Quarter and Half Year ended 30 September 2026
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Audit Opinion:
Clean - Limited Review Report issued by SRBC & CO LLP with no modifications or qualifications
Key Financial Highlights [₹ in Crore]
Standalone Results:
Revenue from Operations:
- Q2 FY27: ₹20,003.43 crore (34% YoY growth from ₹14,922.05 crore in Q2 FY26)
- H1 FY27: ₹37,247.15 crore (35% YoY growth from ₹27,506.50 crore in H1 FY26)
Total Income:
- Q2 FY27: ₹20,422.77 crore
- H1 FY27: ₹38,178.32 crore
EBITDA: [As per press release]
- Q2 FY27: ₹4,172 crore (37% YoY growth)
- H1 FY27: ₹7,768 crore (40% YoY growth)
- EBITDA Margin: 20.9% (40 bps improvement YoY)
Net Profit:
- Q2 FY27: ₹3,353.76 crore (35% YoY growth from ₹2,479.74 crore)
- H1 FY27: ₹6,336.60 crore (38% YoY growth from ₹4,575.72 crore)
EPS:
- Basic EPS Q2 FY27: ₹121.6
- Diluted EPS Q2 FY27: ₹121.3
- Basic EPS H1 FY27: ₹228.2
Other Equity:
- As at 30.09.2026: ₹31,901.07 crore
- As at 31.03.2026: ₹34,695.17 crore
Cash and Cash Equivalents:
- As at 30.09.2026: ₹415.71 crore
- As at 31.03.2026: ₹1,220.56 crore
Debt:
- Short-term borrowings: ₹326.13 crore as at 30.09.2026
- No long-term borrowings disclosed
Consolidated Results:
Revenue from Operations:
- Q2 FY27: ₹25,125.56 crore
- H1 FY27: ₹46,814.39 crore
Net Profit:
- Q2 FY27: ₹3,436.10 crore (attributable to owners)
- H1 FY27: ₹6,661.73 crore (attributable to owners)
EPS:
- Basic EPS Q2 FY27: ₹124.6
- Diluted EPS Q2 FY27: ₹124.2
Segment-wise Performance:
Standalone Business Segments:
Automotive Segment:
- Q2 FY27 Revenue: ₹24,144.45 crore
- Q2 FY27 Profit before tax: ₹4,060.10 crore
Investments Segment:
- Q2 FY27 Revenue: ₹355.20 crore
- Q2 FY27 Profit before tax: ₹355.20 crore
Financing Segment:
- Q2 FY27 Revenue: ₹1,177.03 crore
- Q2 FY27 Profit before tax: ₹325.26 crore
Volume Performance (Units):
Total Volumes:
- Q2 FY27: 1,548,884 units (20% YoY growth)
- H1 FY27: 2,987,135 units (24% YoY growth)
Domestic Business:
- Two-wheelers: 607,416 units (2% YoY growth)
- Commercial Vehicles: 162,940 units (13% YoY growth)
- Total Domestic: 770,356 units (4% YoY growth)
Exports:
- Two-wheelers: 676,545 units (43% YoY growth)
- Commercial Vehicles: 101,983 units (26% YoY growth)
- Total Exports: 778,528 units (41% YoY growth)
Corporate Actions:
Dividend: Not declared in this quarter
Buyback:
- Completed buyback of 4,694,000 equity shares at ₹12,000 per share
- Total buyback amount: ₹5,632.80 crore (excluding transaction costs)
- Buyback approved by Board on 6 May 2026 and shareholders on 18 June 2026
- Tendering period: 1 July 2026 to 7 July 2026
- Payment completed on 14 July 2026
- Capital redemption reserve of ₹4.69 crore created
- Shares extinguished and announcement filed with exchanges on 24 July 2026
Other Significant Information:
Exceptional Items:
- FY26 exceptional charge of ₹23.80 crore (standalone) and ₹39.21 crore (consolidated)
- Includes Labour Code impact and gain of ₹34.53 crore on NPV settlement of deferred sales tax
Cash Flow:
- H1 FY27 operating cash flow: ₹6,790.04 crore (standalone)
- H1 FY27 investing cash flow: ₹1,920.35 crore (standalone)
- H1 FY27 financing cash flow: (₹9,525.72) crore due to buyback and dividend payments
Balance Sheet Position:
- Standalone total assets: ₹46,036.73 crore as at 30.09.2026
- Consolidated total assets: ₹81,559.12 crore as at 30.09.2026
- Surplus funds: ~₹15,500 crore as mentioned in press release
Operational Highlights from Press Release:
- Record quarterly revenue exceeding ₹20,000 crore
- Electric portfolio reached ~200k units in Q2 FY27
- KTM + Triumph domestic revenues up 45% YoY
- Chetak volumes more than doubled YoY with revenues crossing ₹2,000 crore
- Africa exports nearly doubled YoY, LATAM sustained strong momentum
- Riki e-rick extended footprint to ~185 cities