TVS Supply Chain Solutions posts strong Q4, FY26 growth led by India business

TVS Supply Chain Solutions reported strong growth in the fourth quarter and full year ended March 31, 2026, driven by robust performance in its India business, improved operations and continued momentum across key customer segments. The company’s Q4 revenue rose 21.3% year-on-year to ₹30.32 billion, while full-year revenue crossed ₹110 billion, growing 10.1% year-on-year.

Adjusted EBITDA for the quarter increased 37.5% year-on-year to ₹2.22 billion, while adjusted profit before tax (PBT) before exceptional items and InvIT gain rose 72.1% to ₹309 million. Profit after tax (PAT) for Q4 stood at ₹184 million, compared with a loss of ₹39 million in the same period last year.

The India business remained a key growth driver, with revenue increasing 31.4% year-on-year in the fourth quarter and recording sequential growth of 14.9%, supported by customer engagement, operational performance and demand across sectors. New business wins during the quarter stood at ₹5.24 billion.

For the full year, adjusted PBT before exceptional items increased to ₹993 million from ₹373 million in FY25, while PAT stood at ₹1.17 billion against a loss of ₹96 million in the previous financial year. During FY26, the company increased its number of Fortune Global 500 customers to 100 from 91.

“We are pleased to report a strong finish to the year, with Q4 revenues growing 21.3% year-on-year. More importantly, the improvement in profitability reflects the resilience of our business model, disciplined execution, and the benefits of the strategic actions undertaken over the last few years,” said Ravi Viswanathan, Managing Director of TVS Supply Chain Solutions.

He said the India business maintained strong momentum in the quarter, supported by customer engagement, operational performance and sustained demand across sectors. He added that the strong order pipeline and quarterly business wins of ₹5.24 billion provide visibility for future growth.

Viswanathan also said the increase in Fortune Global 500 customers reflects the company’s growing position as a supply chain partner to global enterprises and confidence in its integrated and scalable solutions.

R Vaidhyanathan, Global Chief Financial Officer, said the company closed FY26 with operating cash flow of ₹2.43 billion, supported by improved profitability and working capital management. He said Q4 performance reflected stronger operational and financial metrics driven by revenue growth, cost management and execution.

According to the company, adjusted EBITDA growth was supported by an improved business mix and cost reduction measures, including Project One launched during FY26. The Integrated Supply Chain Solutions segment reported an improvement in adjusted EBITDA margin to 9.3% in Q4 from 8.5% a year earlier.

The company also announced a leadership transition. As part of a plan announced in January 2026, the board noted the resignation of Ravi Viswanathan, who will step down as Managing Director effective June 30, 2026. The board approved the appointment of Vikas Chadha, currently Global CEO, as Managing Director from July 1, 2026.