02 Apr , 2025 By : Debdeep Gupta
Shares of TVS Motor Company gained as much as 3 percent to Rs 2,511 on April 2 after the company wrapped up the financial year 2024-25 on a high note, delivering its best-ever annual sales of 4.74 million units, a 13 percent jump from the previous year. The momentum continued in March 2025, with total sales rising 17 percent year-on-year to 4,14,687 units.
International markets played a key role in the company’s growth, as exports surged 23 percent. In the two-wheeler category, sales climbed 16 percent in March to 4,00,120 units, with motorcycles growing 15 percent to 1,96,734 units and scooters surging 27 percent to 1,66,297 units. Domestic two-wheeler sales were up 14 percent.
The company’s electric vehicle (EV) business continued to gain traction, posting an impressive 77 percent growth in March with 26,935 units sold. The three-wheeler segment also saw a strong uptick, rising 44 percent during the month.
For the fourth quarter of FY25, two-wheeler sales increased by 14 percent, three-wheelers by 21 percent, and total exports soared 31 percent. Over the full financial year, two-wheeler sales grew 12 percent, while exports expanded 18 percent.
In a strategic move, TVS Motor’s Singapore-based arm, TVSM, has exited its investment in ION Mobility Pte Ltd, a Singapore-registered EV startup. The divestment involved selling its stake in ION Mobility while acquiring select assets from the company. The deal, valued at approximately $1.75 million, was finalized based on an independent valuation report, TVS said in a regulatory filing.
ION Mobility accounted for around 1.10 percent of TVS Motor’s consolidated net worth in FY24 but was not consolidated on a line-by-line basis since it was an associate company. The transaction, completed on March 31, 2025, saw ION Mobility and its promoter, Chan Lianghong James, acquiring the stake.
With this move, ION Mobility is no longer an associate of TVSM Singapore or TVS Motor. The company confirmed that the transaction was conducted at arm’s length and does not qualify as a related-party deal.
At about 9:50 am, shares of the company were trading at Rs 2,505, higher by 2.64 percent from the last close on the NSE. TVS Motor Company's share price has risen 10 percent in the last month.
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