TVS Supply Chain Solutions Limited (NSE: TVSSCS, BSE: 543965), a global leader in integrated supply chain solutions, reported a strong financial performance for the third quarter and nine months ending December 31, 2025, driven by robust momentum in India and a recovery in its global segments.
Financial Performance – Q3 & 9M FY26
- For Q3 FY26, the company recorded revenue from operations of INR 2,715.8 crore, an 11.1% year-on-year increase.
- Adjusted EBITDA grew significantly by 31.2% to INR 199.3 crore, with margins expanding by 110 basis points to 7.3%.
- The company turned a profit before tax (PBT) of INR 24 crore, compared to a loss of INR 16 crore in the same period last year.
- For the nine-month period (9M FY26), revenues reached INR 7,970.8 crore, up 6.3%.
- Adjusted PBT saw a 4.4-fold increase to INR 66 crore.
- The company’s growth is underpinned by its two primary segments: Integrated Supply Chain Solutions (ISCS), which contributes 75% of revenue, and Global Forwarding Solutions (GFS), accounting for 25%.
Strategic Acquisition & FMCG Expansion
- TVS SCS announced the acquisition of 100% of Swamy & Sons 3PL Services Private Limited for an enterprise value of INR 88 crore.
- The transaction, funded entirely through internal accruals, is expected to close in Q4 FY26. This move strengthens the company’s position in the high-growth FMCG and FMCD sectors, increasing the India consumer-sector mix from 18% to 25% on a pro forma basis.
- Swamy & Sons operates 116 warehouses across five Indian states, adding approximately 4 million square feet to TVS SCS’s infrastructure.
Business Highlights & Industry Metrics
- A key operational milestone in Q3 was securing a three-year contract with Daimler India Commercial Vehicles (DICV) to manage in-plant warehouse operations in Chennai.
- The company also reported record new business wins totaling INR 319 crore in Q3 and maintains a robust business development pipeline of INR 6,300 crore.
- TVS SCS’s growth continues to outpace broader economic trends.
- Over the last four years, ISCS North America grew at a 20.3% CAGR, surpassing US GDP growth, while ISCS India (11.6% CAGR) and ISCS Europe (14.4% CAGR) also outperformed their respective regional GDP benchmarks.
Management Commentary
Ravi Viswanathan, Managing Director, highlighted Q3 FY26 was a quarter of double-digit growth with profitability strengthening further. Also added the profitability inflection in Europe and a robust recovery in the GFS business.
Global CFO, R Vaidhyanathan added that the focus remains on improving the margin trajectory and strengthening return metrics.
Geographic Presence & Target Customers
- Operating across 26 countries and four continents, TVS SCS manages over 24.7 million square feet of warehouse space. Its diverse customer base of 6,200+ active clients includes 91 Fortune 500 companies.
- The company serves critical industries including Industrial (29%), Automotive (25%), and Tech Infrastructure (13%).
Key Takeaway
With a strengthening PBT margin targeting 4% in the medium term and a strategic shift toward consumption-led sectors like FMCG through acquisitions, TVS SCS is positioning itself for sustained, tech-driven profitable growth in the global logistics market.