Sudarshan Venu, MD, TVSM
| Photo Credit:
cueapi
Automotive major TVS Motor Company (TVSM) set a research and development (R&D) record in FY25 as it invested ₹1,025 crore in R&D, surpassing the ₹1,000 crore mark for the first time in its history. R&D spends grew 59 per cent y-o-y in the fiscal year, TVSM’s Annual report for 2024-25 showed.
In FY25, R&D continued to enhance its design, computing and validation facilities with efforts and investments directed toward ICE ,electric mobility, alternate fuels, flex fuels, advanced safety systems and sustainability,” the report said.
“FY24-25 was a landmark year that delivered record-breaking results,” Sudarshan Venu, MD, TVSM, said in his statement. “We have remained resilient amid global volatility by strengthening our localised manufacturing footprint, expanding our diversified sourcing network, and nurturing long-standing vendor relationships to continue delivering the most compelling and aspirational mobility solutions globally,” he added.
Sudarshan Venu, son of Chairman Emeritus Venu Srinivasan and currently the MD of company, is set to take over additionally as chairman starting August. Sudarshan Venu earned a remuneration of ₹44 crore in FY25, comprising ₹8 crore as salary and ₹36 crore as commission and an increase of 30 per cent from FY24.
The annual report stressed that TVSM marked its fifth consecutive year of topline growth in 2024-25, outpacing the broader industry. “We achieved all-time high annual sales in both domestic and overseas markets in the fiscal, resulting in its best-ever revenue and profit,” it added.
Conveying optimism about FY26, Venu said the company sees “tremendous opportunity on the horizon” as demand for two- and three-wheelers is supported by favourable trends including the reduction in benchmark repo rates, hikes in income tax rebates and infrastructure-led consumption.
For its next phase of growth, TVSM mentioned five strategic priorities including premiumisation push, EV leadership, scaling up commercial mobility business, sustainability in its value chain and focus on global operations.
Amid the rare earth minerals shortage faced by the industry, the management emphasises that diversifying battery supply chain to “reduce dependency on specific geographies and materials” as a key goal for FY26.
Total revenue of TVSM for FY25 stood at ₹36,309 cr, up 13.7 per cent y-o-y. Net profit stood at ₹3,629 cr, up 30.5 per cent y-o-y. Exports saw robust growth with a 22.8 per cent y-o-y increase in two-wheeler exports with Africa and LATAM leading the growth. TVSM’s global market share in FY25 was 6.4 per cent (up 0.2 per cent y-o-y).
The sales of the company’s flagship electric scooter TVS iQube grew 45 per cent y-o-yY in FY25, and it has also been the best-selling electric 2-wheeler in the country in the first few months of FY26.
Published on July 26, 2025
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