Key Financial Highlights - Q4 FY26

  • Consolidated revenue from operations: ₹3,032.22 crore, up 21.35% YoY from ₹2,498.83 crore in Q4 FY25 and up 11.65% QoQ from ₹2,715.81 crore in Q3 FY26
  • Adjusted EBITDA: ₹221.98 crore, up 37.52% YoY from ₹161.41 crore in Q4 FY25 and up 11.38% QoQ from ₹199.31 crore in Q3 FY26
  • Adjusted EBITDA margin: 7.32% compared to 6.46% in Q4 FY25 and 7.34% in Q3 FY26
  • Adjusted PBT before exceptional items and InVIT gain: ₹30.92 crore, up 72.15% YoY from ₹17.96 crore in Q4 FY25 and up 23.02% QoQ from ₹25.13 crore in Q3 FY26
  • PBT as reported: ₹25.71 crore, up 98.36% YoY from ₹12.96 crore in Q4 FY25 and up 60.69% QoQ from ₹16.0 crore in Q3 FY26
  • PAT as reported: ₹18.36 crore compared to loss of ₹3.92 crore in Q4 FY25 and profit of ₹11.19 crore in Q3 FY26
  • PAT margin: 0.61% compared to -0.16% in Q4 FY25 and 0.41% in Q3 FY26
  • New business wins for the quarter: ₹524 crore

Full Year FY26 Performance

  • Full year revenue: ₹11,002.97 crore, up 10.08% YoY from ₹9,995.72 crore in FY25
  • Full year adjusted EBITDA: ₹773.05 crore, up 14.48% YoY from ₹675.27 crore in FY25
  • Full year adjusted EBITDA margin: 7.03% compared to 6.76% in FY25
  • Full year adjusted PBT before exceptional items and InVIT gain: ₹99.28 crore, up 166.43% YoY from ₹37.26 crore in FY25
  • Full year PBT as reported: ₹168.50 crore, up 473.85% YoY from ₹29.36 crore in FY25
  • Full year PAT as reported: ₹117.02 crore compared to loss of ₹9.64 crore in FY25
  • Full year PAT margin: 1.06% compared to -0.10% in FY25
  • Operating cash flow: ₹243 crore for FY26
  • Fortune Global 500 customers increased from 91 to 100 during FY26

Segment Performance - Q4 FY26

Integrated Supply Chain Solutions (ISCS)

  • Revenue: ₹2,283.43 crore, up 17.5% YoY from ₹1,943.39 crore in Q4 FY25 and up 15.35% QoQ from ₹1,979.52 crore in Q3 FY26
  • Adjusted EBITDA: ₹212.80 crore, up 29.18% YoY from ₹164.73 crore in Q4 FY25 and up 16.36% QoQ from ₹182.89 crore in Q3 FY26
  • Adjusted EBITDA margin: 9.32% compared to 8.48% in Q4 FY25 and 9.24% in Q3 FY26

Global Forwarding Solutions (GFS)

  • Revenue: ₹748.79 crore, up 34.81% YoY from ₹555.44 crore in Q4 FY25 and up 1.70% QoQ from ₹736.30 crore in Q3 FY26
  • Adjusted EBITDA: ₹18.29 crore, up 111.15% YoY from ₹8.66 crore in Q4 FY25 and up 5.97% QoQ from ₹17.26 crore in Q3 FY26
  • Adjusted EBITDA margin: 2.44% compared to 1.56% in Q4 FY25 and 2.34% in Q3 FY26

Geographic Performance

  • India business revenue grew 31.4% year-on-year in Q4 FY26 with sequential growth of 14.9%

Management Commentary

Ravi Viswanathan, Managing Director, commented on the strong finish to the year with Q4 revenue growth of 21.3% YoY, highlighting improved profitability reflecting business model resilience, disciplined execution, and benefits of strategic actions. He noted India business momentum with 31.4% YoY growth in Q4, supported by deeper customer engagement, operational excellence, and sustained demand across key sectors. The strong order pipeline and quarterly new business wins of ₹524 crore provide good visibility for future growth.

R Vaidhyanathan, Global Chief Financial Officer, highlighted FY26 operating cash flow of ₹243 crore supported by improved profitability and effective working capital management. Q4 performance demonstrated strong improvement in operational and financial metrics driven by revenue growth, disciplined execution and focused cost management initiatives including Project One initiated during FY26. The ISCS business reported strong performance with Q4 Adjusted EBITDA margins improving from 8.5% to 9.3% on YoY basis.

Management Changes

The board noted the resignation of Ravi Viswanathan as Managing Director effective June 30, 2026, as part of the transition plan announced in January 2026. The Board approved the appointment of Vikas Chadha, currently Global CEO, as Managing Director effective July 1, 2026.

Company Overview

TVS Supply Chain Solutions Limited is promoted by the erstwhile TVS Group and now part of TVS Mobility Group. The company operates in 26 countries with over 16,500 employees and serves customers across automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare industries.