Chennai : TVS Supply Chain Solutions Limited (NSE: TVSSCS, BSE: 543965), a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, today announced its consolidated unaudited financial results for the quarter ended 30th September, 2026 and the first half of FY2027.
The company delivered a strong performance across all geographies in Q2 FY27, with consolidated revenue from operations growing 38% year-on-year to ₹3,687.2 crore compared to ₹2,662.6 crore in Q2 FY26. The company also recorded strong sustainable improvement in operating profitability, with EBITDA increasing 50.2% year-on-year to ₹268.1 crore. EBITDA margin improved to 7.3%, compared to 6.7% in Q2 FY26, reflecting the improved operating performance.
Profit before tax (PBT) increased 108% to ₹50.6 crore, compared to ₹24.4 crore in Q2 FY26. Profit after tax (PAT) more than doubled to ₹36.5 crore, over ₹16.3 crore in the corresponding quarter last year.
For the first half of FY27, consolidated revenue grew 33.6% to ₹7,022.4 crore, compared to ₹5,254.9 crore in H1 FY26. EBITDA increased 42.2% to ₹500.3 crore, with margins improving to 7.1% from 6.7% in the corresponding period last year. PBT for H1 FY27 stood at ₹82.7 crore, compared to ₹43.2 crore in H1 FY26, a growth of 91.4%.
Key highlights – Q2 FY27:
ISCS revenue grew 24.8% to ₹2487.9 Cr while GFS revenue increased 79.1% to ₹1199.3 Cr
Margin improvement: ISCS EBITDA margin expanded 50 bps to 9.2% from 8.7%, while GFS EBITDA margin improved 170 bps to 3.9% from 2.2%
India Geography business: Revenue grew by 64.1% to ₹1,177.4 Cr vs ₹ 717.4 Cr
Rest of the World revenue grew 29% YoY
Visibility: Order Pipeline for the quarter continued to grow to reach ₹ 8,200 Cr
Business momentum: Revenue from new business at ₹ 523 Cr
Commenting on the Q2 FY27 results, Mr. Vikas Chadha, Managing Director, TVS Supply Chain Solutions said, “Our stellar Q2 performance is the direct result of the growth and optimisation initiatives that we have championed over the past several quarters. Our revenue growth has been broad-based across all regions and segments, driven by strong momentum in both new and existing accounts. Notably, we achieved a hat-trick of surpassing ₹500 Cr in quarterly new business revenue, alongside substantial expansion within our existing client base.”
He further added, “Central to this success is our reimagined and institutionalised ‘TVS SCS Framework’, which aligns our teams around four core pillars: business development, operational rigour, technology innovation and customer satisfaction. Backed by continuously growing business development pipeline of ₹8,200 Cr and a steady conversion rate, we are targeting over 20% revenue growth across both segments. Strong growth in ISCS, structural enhancements driving GFS profitability and our ability to deliver tech-led solutions put us firmly on track to double our profits in FY27.”
Mr. R. Vaidhyanathan, Global Chief Financial Officer, TVS Supply Chain Solutions, said, “Our Q2 FY27 results reinforce the improvement in the quality of our earnings, with consolidated EBITDA increasing 50% Y-o-Y to ₹268 crore and EBITDA margin expanding by 60 bps to 7.3% driven by consistent execution and tighter cost control across regions. This improvement reflects consistent execution, procurement efficiency and tighter cost control across regions. With 34% growth in topline and margin expansion across both segments in H1 FY27, we remain confident of accelerating profitable growth and strengthening the long-term fundamentals of the business.”
Below is the summary of the business and financial performance of the two operating segments along with the consolidated financial performance:
Integrated Supply Chain Solutions (‘ISCS’):
| Integrated Supply Chain Solutions segment (‘ISCS’) (Amount in ₹ Cr.) | Q2 FY27 | Q1 FY27 | Q2 FY26 | Q-o-Q Growth | Y-o-Y Growth | H1 FY27 | H1FY26 | Y-o-Y Growth |
| Revenue from operations | 2,487.9 | 2,417.2 | 1993.0 | 2.9% | 24.8% | 4,905.1 | 3975.9 | 23.4% |
| EBITDA | 228.1 | 196.3 | 173.8 | 16.2% | 31.2% | 424.3 | 337.9 | 25.6% |
| EBITDA margin % | 9.2% | 8.1% | 8.7% | — | — | 8.7% | 8.5% | — |
Global Forwarding Solutions (‘GFS’):
| Global Forwarding Solutions (“GFS”) (Amount in ₹ Cr.) | Q2 FY27 | Q1 FY27 | Q2 FY26 | Q-o-Q Growth | Y-o-Y Growth | H1 FY27 | H1 FY26 | Y-o-Y Growth |
| Revenue from operations | 1199.3 | 918.0 | 669.6 | 30.6% | 79.1% | 2117.4 | 1279.0 | 65.5% |
| EBITDA | 46.7 | 37.9 | 14.7 | 23.4% | 218.9% | 84.7 | 27.5 | 208.0% |
| EBITDA margin % | 3.9% | 4.1% | 2.2% | — | — | 4.0% | 2.1% | — |
Summary of consolidated financial performance:
| In ₹Cr | Q2 FY27 | Q1 FY27 | Q2 FY26 | Q-o-Q Growth | Y-o-Y Growth | H1FY27 | H1 FY26 | Y-o-Y Growth |
| Revenue from operations | 3687.2 | 3,335.2 | 2662.6 | 10.6% | 38.5% | 7022.4 | 5254.9 | 33.6% |
| EBITDA | 268.1 | 232.2 | 178.5 | 15.5% | 50.2% | 500.3 | 351.8 | 42.2% |
| EBITDA margin % | 7.3% | 7.0% | 6.7% | — | — | 7.1% | 6.7% | — |
| PBT as reported | 50.6 | 32.1 | 24.4 | 57.5% | 107.6% | 82.7 | 43.2 | 91.4% |
| PAT as reported | 36.5 | 22.5 | 16.3 | 62.4% | 123.9% | 59.0 | 25.1 | 134.7% |
| PAT margin % | 1.0% | 0.7% | 0.6% | — | — | 0.8% | 0.5% | — |