TVS Supply Chain Solutions Returns to Profitability with Robust Growth Momentum
TVS Supply Chain Solutions (TVS SCS) has made a significant turnaround, returning to profitability in the third quarter of fiscal year 2026. The company reported a net profit of Rs 11.19 crore, marking a dramatic improvement from the loss of Rs 23.8 crore recorded in the same period a year earlier. This financial recovery is accompanied by a steady expansion in the company's business development pipeline and strong traction in new order acquisitions.
Expanding Business Pipeline and Revenue Visibility
The overall business pipeline for TVS SCS has shown consistent growth over recent quarters. It expanded from Rs 4,500 crore in Q3 FY25 to Rs 5,250 crore in Q4 FY25, and further increased to Rs 6,300 crore in Q3 FY26. This substantial pipeline provides strong revenue visibility for the coming quarters, indicating a positive outlook for the company's future performance.
Surge in New Business Wins
Revenue generated from new business wins witnessed a remarkable surge, reaching Rs 319 crore in Q3 FY26. This represents a significant increase from Rs 204 crore in Q2 FY26 and Rs 160 crore in Q1 FY26. Notably, this figure also surpassed the previous peak of Rs 280 crore recorded in Q2 FY25.
"We continued to build strong traction in new business development during the quarter. In Q3, we generated revenue of over Rs 319 crore from new business wins, representing 13% of our Q3 FY25 revenue," stated Ravi Viswanathan, Managing Director of TVS SCS.
For the nine-month period of FY26, revenue from new business wins stood at Rs 683 crore, accounting for 9.1% of the nine-month revenue from FY25. The company has successfully built a healthy and diversified funnel across key regions including India, Europe, and North America.
Segment Performance and Global Operations
TVS SCS operates through two primary segments: Integrated Supply Chain Solutions (ISCS) and Global Forwarding Solutions (GFS). These operations span across Asia, Europe, North America, and Oceania. In Q3 FY26, ISCS accounted for 73% of the total revenue of Rs 2,716 crore, while GFS contributed the remaining 27%.
Future Outlook and Global Trade Developments
The company anticipates that global trade developments will provide support for its forwarding business. "With the US trade deal expected to commence in phases from March, and progress on the European FTA, we believe the global forwarding business could stabilise in the next fiscal year. That said, we remain cautiously optimistic on GFS while remaining very confident about the growth momentum in the ISCS segment, both in India and globally," added Viswanathan.
This strategic outlook reflects the company's balanced approach to navigating international trade dynamics while capitalizing on growth opportunities in its core segments.
