TVS Supply Chain Solutions (TVSSCS) Q4 24/25 earnings summary

Executive summary

• Achieved a turnaround in FY25 with profit before tax (PBT) of INR 29 crore, up from a loss of INR 10 crore in FY24, and revenue growth of 8.6%–9% year-over-year to INR 9,996 crore.

• Strong performance in North America and India, with robust bottom-line margins and strategic portfolio realignment.

• IFM business turned profitable in Q4, driven by price increases, cost rationalization, and operational efficiencies.

• Order pipeline increased to INR 5,250 crore, with significant new business wins and addition of 24 new Fortune 500 customers.

• Strategic initiatives for operational agility, cost efficiency, and leadership restructuring underway, targeting a 4% PBT margin in the medium term.

Financial highlights

• FY25 revenue was INR 9,996 crore (+8.6% year-over-year); Q4 FY25 revenue was INR 2,499 crore (+3.0% year-over-year).

• Adjusted EBITDA for FY25 was INR 675 crore (6.8% margin); Q4 adjusted EBITDA at INR 161 crore (6.5% margin).

• Adjusted PBT for FY25 was INR 37 crore (vs. loss of INR 10 crore in FY24); Q4 FY25 Adjusted PBT was INR 18 crore.

• Net cash from operating activities for the year was INR 194–195 crore; CapEx fully funded through internal accruals.

• Other income for FY25 was INR 33.2 crore, down from INR 47.9 crore in FY24 due to lower interest income.

Outlook and guidance

• Targeting double-digit revenue growth and 4% PBT margin by FY27, with ISCS EBITDA margin guidance at 9.5%-10%.

• Network Solutions segment expected to see sequential margin improvement in FY26, with continued volatility in GFS due to global freight market conditions.

• Cost reduction initiatives, including right-sizing and right-shoring, to continue through H1 FY26, with benefits expected from H2 FY26.

• ISCS North America and India expected to sustain growth momentum; Europe to recover from Q3 FY25 setback.

• No explicit forward-looking guidance provided in statutory disclosures.