TVS SCS posts 33% rise in Q3 FY26 EBITDA to ₹199 crore

TVS Supply Chain Solutions (TVS SCS) reported strong financial performance for the third quarter of FY26, with adjusted EBITDA rising 33 per cent year-on-year to ₹199 crore and revenue increasing 11 per cent to ₹2,715.81 crore. The company also reported operational Profit After Tax (PAT) of ₹18.02 crore for the quarter.

Announcing its consolidated unaudited results for the quarter ended 31 December 2025, the Chennai-based company said growth was supported by continued strength in the Integrated Supply Chain Solutions (ISCS) segment and a significant recovery in volumes in the Global Forwarding Solutions (GFS) segment.

Adjusted EBITDA stood at ₹199.31 crore compared to ₹150.38 crore in the same quarter last year. EBITDA margins expanded by 120 basis points to 7.34 per cent from 6.15 per cent a year earlier, reflecting improved operating leverage.

Profit Before Tax (PBT) before exceptional items was ₹25.13 crore, compared to a loss of ₹15.19 crore in Q3 FY25. Reported PBT stood at ₹16 crore against a loss of ₹15.19 crore last year. Reported PAT was ₹11.19 crore, compared to a loss of ₹23.80 crore in the corresponding period. Operational PBT and PAT exclude the impact of the new wage code in Q3 FY26.

The company reported a robust order pipeline of ₹6,300 crore. Revenue from new business wins during the quarter stood at ₹319 crore.

For the nine months ended FY26, revenue rose 6.3 per cent year-on-year to ₹7,970.75 crore. Adjusted EBITDA increased 7.4 per cent to ₹548.72 crore, with margins improving to 6.88 per cent. PBT for the nine-month period was ₹243.3 crore, which includes a one-time gain of ₹177 crore from the TVS ILP InVIT in Q1 FY26, compared to ₹16.4 crore in the same period last year. PAT for the nine months was ₹98.66 crore, compared to a loss of ₹5.72 crore a year earlier.

The Integrated Supply Chain Solutions (ISCS) segment continued to anchor performance. In Q3 FY26, ISCS revenue stood at ₹1,979.52 crore, up 8.32 per cent year-on-year. Adjusted EBITDA increased 24.64 per cent to ₹182.89 crore, with margins expanding to 9.24 per cent from 8.03 per cent last year. For the nine-month period, ISCS EBITDA grew 12.03 per cent year-on-year, with margins improving to 8.75 per cent.

The Global Forwarding Solutions (GFS) segment showed sequential recovery. Q3 FY26 revenue rose 9.95 per cent quarter-on-quarter and 19.30 per cent year-on-year to ₹736.29 crore. Adjusted EBITDA increased 27.01 per cent sequentially to ₹17.26 crore. Margins expanded to 2.34 per cent, reflecting early benefits of cost actions and stabilising volumes, even as macro conditions remained challenging.

Ravi Viswanathan, Managing Director, TVS Supply Chain Solutions Ltd., said the third quarter marked a significant milestone with strong top-line growth, improved EBITDA performance and continued progress on profitability. He said the quarter was led by strong business growth in India, supported by disciplined execution across operating regions and a sharp focus on efficiency.

R Vaidhyanathan, Global Chief Financial Officer, said the quarter reflected continued improvement in earnings, supported by margin expansion and stronger operating leverage in the ISCS segment. He added that growth in PBT and PAT reflects actions taken to improve profitability, and the company remains focused on sustaining margin progression and improving overall return metrics.