TVS Supply Chain Solutions Reports Strong Q4 and FY26 Growth Driven by India Business Momentum
TVS Supply Chain Solutions Limited, a global supply chain solutions provider, announced robust financial results for the fourth quarter and the full year ended March 31, 2026. The strong performance was primarily attributed to sustained growth in its India business, improved operational efficiencies, and momentum across various customer segments, leading to the company's full-year revenue crossing the ₹11,000 crore milestone.According to the company's reporting, the fourth quarter revenue grew 21.3% year-on-year, while the full-year revenue reached ₹11,000 crore and grew by 10.1%. Key profitability indicators saw significant increases: Adjusted EBITDA grew 37.5% year-on-year, and Adjusted PBT before exceptional items increased 72.1% year-on-year. Furthermore, the company reported that new business wins for the quarter stood at ₹524 crore.
Key Financial Highlights for Q4 FY26
The company's strong Q4 performance delivered double-digit growth in revenue, EBITDA, and profitability. Key figures for Q4 FY26 include:- Consolidated revenue from operations grew 21.3% year-on-year.
- Adjusted EBITDA grew 37.5% year-on-year.
- Adjusted PBT before exceptional items increased 72.1% year-on-year.
- Q4 PAT stood at ₹18.36 crore, compared to a loss of ₹3.92 crore in Q4 FY25.
- The India business revenue showed robust growth of 31.4% year-on-year.
For the full year, the adjusted PBT before exceptional items rose sharply to ₹99.28 crore from ₹37.26 crore in FY25. The PAT for FY26 was ₹117.02 crore, a substantial improvement compared to a loss of ₹9.64 crore in FY25. During the fiscal year, the company also expanded its global customer base, increasing its Fortune Global 500 customer count from 91 to 100.
Management Commentary
Ravi Viswanathan, Managing Director, highlighted the strong finish to the year, noting that the 21.3% year-on-year growth in Q4 revenues demonstrated the resilience of the business model. He emphasized that the India business maintained strong momentum with over 31.4% year-on-year growth in Q4. Viswanathan added that the strong order pipeline and new business wins of ₹524 crore provided good visibility for future growth.Furthermore, the increase in Fortune Global 500 customers from 91 to 100 underscored the company's growing relevance as a strategic supply chain partner to leading global enterprises.
R Vaidhyanathan, Global Chief Financial Officer, pointed out that the company closed FY26 with an operating cash flow of ₹243 crore. He stated that the Q4 performance saw Adjusted EBITDA grow 37.5% year-on-year to ₹221.98 crore, driven by improved profitability and effective working capital management. The ISCS business, in particular, reported a strong performance, with Q4 Adjusted EBITDA margins improving from 8.48% to 9.32% year-on-year.
Segment Performance Analysis
The company operates two segments: Integrated Supply Chain Solutions (ISCS) and Global Forwarding Solutions (GFS). The financial performance of these two segments is detailed below:Integrated Supply Chain Solutions (ISCS) Performance (Amount in ₹ Cr.)
| Metric | Q4 FY26 | Q4 FY25 | Q3 FY26 | Q-o-Q Growth Q4 | Y-o-Y Growth Q4 | FY26 | FY25 | Y-o-Y Growth FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,283.43 | 1,943.39 | 1,979.52 | 15.35% | 17.5% | 8,238.86 | 7,514.90 | 9.63% |
| Adj. EBITDA | 212.80 | 164.73 | 182.89 | 16.36% | 29.18% | 733.63 | 632.54 | 15.98% |
| Adj. EBITDA margin% | 9.32% | 8.48% | 9.24% | -- | -- | 8.90% | 8.42% | -- |
Global Forwarding Solutions (GFS) Performance (Amount in ₹ Cr.)
| Metric | Q4 FY26 | Q4 FY25 | Q3 FY26 | Q-o-Q Growth Q4 | Y-o-Y Growth Q4 | FY26 | FY25 | Y-o-Y Growth FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 748.79 | 555.44 | 736.30 | 1.70% | 34.81% | 2,764.11 | 2,480.82 | 11.42% |
| Adjusted EBITDA | 18.29 | 8.66 | 17.26 | 5.97% | 111.15% | 63.04 | 69.40 | -9.16% |
| GFS - Adj. EBITDA margin % | 2.44% | 1.56% | 2.34% | -- | -- | 2.28% | 2.80% | -- |
Summary of Consolidated Financial Performance (In ₹Cr)
| Metric | Q4 FY26 | Q4 FY25 | Q3 FY26 | Q-o-Q Growth Q4 | Y-o-Y Growth Q4 | FY26 | FY25 | Y-o-Y Growth FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,032.22 | 2,498.83 | 2,715.81 | 11.65% | 21.35% | 11,002.97 | 9995.72 | 10.08% |
| Adjusted EBITDA | 221.98 | 161.41 | 199.31 | 11.38% | 37.52% | 773.05 | 675.27 | 14.48% |
| Adj. EBITDA margin% | 7.32% | 6.46% | 7.34% | -- | -- | 7.03% | 6.76% | -- |
| Adj. PBT before exceptional items and InVIT gain | 30.92 | 17.96 | 25.13 | 23.02% | 72.15% | 99.28 | 37.26 | 166.43% |
| PBT as reported | 25.71 | 12.96 | 16.0 | 60.69% | 98.36% | 168.50 | 29.36 | 473.85% |
| PAT as reported | 18.36 | -3.92 | 11.19 | 64.11% | -- | 117.02 | -9.64 | -- |
Leadership Changes
The board of directors took note of the resignation of Ravi Viswanathan, Managing Director, effective June 30, 2026. Additionally, the Board approved the appointment of Vikas Chadha, currently Global CEO, as Managing Director, with effect from July 1, 2026.TVSSCS Stock Price Movement
Shares of TVS Supply Chain Solutions Limited today slipped by 0.54% to settle at ₹120.81. The stock saw a notable trading volume of 523,310 shares, finishing within an intraday range between ₹119.49 and ₹125.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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