Slides
Page 1
S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L TVS Supply Chain Solutions Q2 & H1 FY26 Earnings Presentation 14th November 2025
Page 2
2 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Safe harbour & disclaimer This presentation(“Presentation”) is prepared by TVS Supply Chain Solutions Limited(“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any -particular person and is not and nothing in it shall be construed as an invitation, offer, solicitation, recommendation or advertisement in respect of the purchase or sale of any securities of the Company or any affiliates in any jurisdiction or as an inducement to enter into investment activity and no part of it shall form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever. This Presentation does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Before acting on any information you should consider the appropriateness of the information having regard to these matters, and in particular, you should seek independent financial advice. This Presentation and its contents are confidential and proprietary to the Company and/or its affiliates and no part of it or its subject matter be used, reproduced, copied, distributed, shared, retransmitted, summarised or disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose, in any manner whatsoever. The information contained in this Presentation is a general background information of the Company and there is no representation that all information relating to the context has been taken care of in the Presentation. We do not assume responsibility to publicly amend, modify or revise any information contained in this Presentation on the basis of any subsequent development, information or events, or otherwise. This Presentation includes certain statements that are, or may be deemed to be,“forward-looking statements” and relate to the Company and its financial position, business strategy, events and courses of action. Forward-looking statements and financial projections are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and financial projections. Representative examples of factors that could affect the accuracy of forward looking statements include (without limitation) the condition of and changes inIndia’s political and economic status, government policies, applicable laws, international and domestic events having a bearing onCompany’s business, and such other factors beyond our control. Forward-looking statements and financial projections include, among other things, statements about: our expectations regarding our transaction volumes, expenses, sales and operations; our future merchant and consumer concentration; our anticipated cash needs, our estimates regarding our capital requirements, our need for additional financing; our ability to anticipate the future needs of our merchants and consumers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. These forward-looking statements represent only theCompany’s current intentions, beliefs or expectations, and no representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts in the Presentation, if any, are correct or that any objectives specified herein will be achieved. We, or any of our affiliates, shareholders, directors, employees, or advisors, as such, make no representations or warranties, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein and accept no liability whatsoever for any loss, howsoever, arising from any use or reliance on this Presentation or its contents or otherwise arising in connection therewith. The information contained herein is subject to change without any obligation to notify any person of such revisions or change and past performance is not indicative of future results. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. No rights or obligations of any nature are created or shall be deemed to be created by the contents of this Presentation.
Page 3
3 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE From the desk of MD Ravi Viswanathan Managing Director Stellar Performance on the back of strong ISCS momentum Our Q2 performance reflects focused execution and disciplined cost management, delivering our best PBT since listing. The quarter was marked by strong growth in our ISCS segment and early signs of stabilization in GFS, supported by structural efficiency initiatives. Our ISCS business continued its stellar performance with sustained revenue growth and margin expansion, driven by operational excellence, right-sizing, and right-shoring initiatives. The strategic transformation program, Project One in the UK and Europe, is progressing well and delivering operational and commercial synergies as planned. In GFS, while the macro environment remains challenging, we are witnessing early signs of recovery with sequential improvement in revenue and profitability. Our calibrated cost and efficiency actions are beginning to yield results, positioning the business for margin recovery in the coming quarters. Our business development engine remains strong, with ₹6,200 crores of active pipeline and robust new business wins equivalent to 8.1% of Q2 FY25 revenue— reflecting continued customer confidence in our capabilities. As we move into the second half of the year, our focus remains on sustaining ISCS momentum, improving GFS profitability, and converting our strong pipeline into consistent, high-quality growth. With continued execution discipline and cost rigor, we remain confident of delivering on our medium-term goal of 4% PBT by Q4 FY27 and building a stronger, performance-driven TVS Supply Chain Solutions.
Page 4
4 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE From the desk of CFO R Vaidhyanathan Global CFO Commenting on the financial performance of the company, R Vaidhyanathan, Global CFO said – Q2 FY26 reflects strong execution and improved profitability. Consolidated revenue grew 6% year-on-year to ₹2,663 crores, with Adjusted EBITDA of ₹178 crores and Adjusted PBT improving to ₹ 23 crores. We delivered second consecutive quarter of positive PAT ₹16.3 crores. ISCS continues to be the primary growth driver with significant margin expansion to 8.7% from 8.2% in Q2 FY25, while GFS margins remained under pressure from subdued freight rates. Our strategic cost take-out initiatives across the regions are tracking well as per plan. A key highlight of the quarter is the sharp improvement in cash flow generation. Our cash flow from operations is at ₹105 crores in H1 FY26 reflecting disciplined working capital management and stronger operating performance. We continue to strengthen our financial foundation through improved cash discipline and a leaner cost structure to achieve our medium-term goal of 4% PBT.
Page 5
C O N F I D E N T I A L 5 /Admin/ADVANCED GRAPHICS/Cover and Template/2022_01/3657108-001_TVS SCS_Divider Options Q2 & H1FY26 Financial Performance
Page 6
6 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Financial Snapshot 177 178 Q2 FY25 Q2 FY26 +1.0% 2,513 2,663 Q2 FY25 Q2 FY26 +6.0% Revenue Adj. EBITDA Adj. PBT before exceptional items & share of profit from TVS ILP in INR Cr Note: ✓ Adj. EBITDA : Adjusted for ESOPS & forex gain/loss, redundancy costs ✓ Adj. PBT : Adjusted for redundancy costs 362 352 H1 FY25 H1 FY26 -2.8% 5,052 5,255 H1 FY25 H1 FY26 +4.0% 42 H1 FY25 H1 FY26 31 +34.9% Q2FY26H1FY26 New Business Win – Q2FY26 INR 204 Crs Robust BD Pipeline INR 6,200 Crs 23 Q2 FY25 Q2 FY26 18 +31.9% Reported PBT before exceptional items 32 218 H1 FY25 H1 FY26 +590.3% 18 23 Q2 FY25 Q2 FY26 +30.8%
Page 7
7 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Revenue, Adj EBITDA and Profitability in INR Cr Adj. EBITDA & Margin Adj. PBT & PBT Margin 7.0% 177 152 161 173 178 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 0.7% Revenue 2,513 2,445 2,499 2,592 2,663 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 +6.0% +2.7% Margins 6.2% -ve 0.7% 6.5% 0.7% 6. 7% 18 17 19 23 -16 1 Q2 FY25 3 Q3 FY25 1 Q4 FY25 177 Q1 FY26 1 Q2 FY26 18 -14 18 196 24 Share of Profit from TVS ILP Business PBT 6. 7% 0.9% Note: ✓ EBITDA Adjusted for ESOPS & forex gain/loss, one time redundancy costs from Q2FY25 to Q2FY26 ✓ PBT before Exceptional Items & Adjusted for one time redundancy costs ✓ PBT margin computed based on business PBT
Page 8
8 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Segment wise Revenue and Adj EBITDA in ₹ Cr ISCS Segment (In ₹ Cr.) TVSSCS Consolidated (In ₹ Cr.)GFS Segment (In ₹ Cr.) RevenueAdj. EBITDA & Margin 1,838 1,993 3,744 3,976 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +8.4% +6.2% 674 670 1,308 1,279 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 -0.7% -2.2% 8.2% 8.5% Margins Note: • EBITDA Adjusted for ESOPS, Forex Gain/Loss and redundancy costs • Prior period segment numbers are restated to reflect the change in segment effective Q1 FY 26 2,513 2,663 5,052 5,255 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +6.0% +4.0% 150 174 320 338 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +15.9% +5.7% 28 15 49 27 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 -48.0% -44.2% 177 178 362 352 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +1.0% -2.8% 8.7% 8.5% 4.2% 3.8%2.2% 2.1% 7.0% 7.2%6.7% 6.7%
Page 9
9 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Geography wise Revenue in ₹ Cr ISCS Segment (In ₹ Cr.) Total (In ₹ Cr.)GFS Segment (In ₹ Cr.) IndiaRoW * Net of eliminations 510 516 1,033 1,034 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +1.1% +0.1% Note - Prior period segment numbers are restated to reflect the change in segment 156 228 331 404 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +46.6% +22.2% 666 744 1,363 1,438 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +11.7% +5.5% 1,326 1,477 2,709 2,941 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +11.4% +8.6% 521 441 980 876 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 -15.2% -10.6% 1,847 1,919 3,689 3,817 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 +3.9% +3.5%
Page 10
10 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Revenue Bridge YoY in ₹ Cr New Business development translates to 8.1% of Q2FY25 & 7.2% of H1FY25 revenues 2,513 2,663 204 74 Q2 FY25 New BD 20 Price & Volume Growth Customer Churn Q2 FY26 Revenue bridge: Q2FY25 to Q2FY26 in ₹ Cr 5,052 5,255 364 177 H1 FY25 New BD 16 Price & Volume Growth Customer Churn H1 FY26 Revenue bridge: H1FY25 to H1FY26 in ₹ Cr Note: Q1 FY26 new business wins have been restated to reflect correct classification of one customer previously reported under volume gains. Accordingly, H1 FY26 bridge reflects updated figures.
Page 11
11 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Business development efforts yielding consistent results for Q2 FY26 ISCS Global leader in Building Technologies (India) GFS One of the top Indian commercial vehicles manufacturer (India) Integrated solar solutions provider (India) Global player in energy management and automation (India) Leading Indian manufacturer of electrical and consumer durables (India) Top Indian automotive manufacturer (India) Leading Indian home appliance manufacturer (India) Top Multinational IT Services Company (UK) Top Global Agri Equipment company (US) Leading provider of retail and banking technology (UK) European building materials manufacturer (UK) One of the top global automotive components’ supplier Multinational industrial technology leader Asia based industrial components manufacturer Global components and packaging solutions provider Global specialist in textile chemicals Leading Europe based Coffee Equipment manufacturer (UK)
Page 12
12 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Key Opportunities in India Robust Pipeline gives us the confidence for a double-digit growth Key Opportunities in RoW Technical solution to a UK based telecom provider Forwarding solution to a top global automotive technology supplier Warehousing solution to an American Electric vehicle manufacturer Procurement solution to a UK based renewable energy supplier Warehousing solution to a diversified kitchen and laundry appliance leader Transportation solution to a multinational specialist in building mobility solutions Integrated solution to a leading Indian electrical and appliances company Integrated solution to a global renewable energy turbine manufacturer Integrated solution to an Indian bio products and sweetener manufacturer Transportation solution to a top Indian consumer goods company Technical solution to a global IT consulting and services company Warehousing solution to a top multinational rail transport solution provider Integrated solution to a defence infrastructure organization Sourcing and Procurement solution to a governmental civil protection body Near Term Opportunities Long gestation opportunities
Page 13
13 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Q2 & H1FY26 Profit & Loss Statement in ₹ Cr Particulars Q2FY25 Q2FY26 Y-o-Y H1FY25 H1FY26 Y-o-Y Revenue from operations 2,512.9 2,662.6 6.0% 5,052.3 5,254.9 4.0% Other Income 7.1 11.4 13.6 20.1 Total Income 2,520.0 2,674.0 6.1% 5,065.9 5,275.1 4.1% Total material related costs 434.3 446.3 2.8% 923.0 933.7 1.2% Freight, clearing, forwarding and handling charges 745.1 727.3 -2.4% 1,478.3 1,407.6 -4.8% Sub-contracting costs 366.1 369.4 0.9% 709.5 746.5 5.2% Employee Cost 576.2 644.4 11.8% 1,153.1 1,263.3 9.6% Other Expenses 215.3 298.1 38.4% 428.0 554.9 29.7% Foreign exchange loss/(gain) (net) -14.4 -4.3 -69.9% -10.9 -9.7 -10.9% EBITDA 190.3 181.6 -4.6% 371.2 358.7 -3.4% EBITDA Margins (%) 7.6% 6.8% 7.3% 6.8% ESOPS 0.2 0.2 0.2 0.3 Foreign exchange loss/(gain) (net) -14.4 -4.3 -10.9 -9.7 One Time Restructuring Cost 0.6 1.1 1.4 2.3 Adjusted EBITDA 176.7 178.5 1.0% 362.0 351.8 -2.8% Adjusted EBITDA Margins (%) 7.0% 6.7% 7.2% 6.7% Depreciation of right of use asset 103.9 95.8 204.9 189.0 Other depreciation & amortization 35.6 41.3 69.9 78.6 EBIT (EBITDA less depreciation) 50.7 44.4 -12.4% 96.5 91.1 -5.6% Finance cost 18.1 18.8 35.0 36.4 Interest on lease liabilities 22.6 14.6 45.2 34.9 Share of profit/(loss) from TVSILP 0.6 0.9 1.6 178.1 Profit before Exceptional Items & Tax 17.8 23.3 30.8% 31.6 218.1 590.3% Exceptional Items 0.0 0.0 0.0 91.3 Profit before Tax 17.8 23.3 30.8% 31.6 126.8 301.4% Profit before Tax Margin (%) 0.7% 0.9% 0.6% 2.4% Tax 7.2 7.0 13.5 39.3 Profit After Tax 10.6 16.3 53.7% 18.1 87.5 383.8% PAT Margins (%) 0.4% 0.6% 0.4% 1.7% PAT (before Exceptional items) 10.6 16.3 18.1 178.8
Page 14
14 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Balance Sheet in ₹ Cr Assets Mar-25 Sep-25 Equity & Liabilities Mar-25 Sep-25 Non - Current Assets Total Equity 1,835.5 1,976.8 Property Plant & Equipment 421.6 482.9 Non-Current Liabilities Right of Use Assets 1,000.7 955.8 Borrowings 2.6 63.1 Goodwill 600.6 630.2 Lease Liability 863.0 814.1 Other Intangible Assets 224.4 178.1 Other Financial Liabilities 27.4 23.0 Other Non - Current Assets (Net) 344.9 524.8 Other non current liabilities 109.6 132.4 Total Non-Current Assets 2,592.3 2,771.8 Total Non-Current Liabilities 1,002.6 1,032.6 Current Assets Current Liabilities Inventories 381.0 460.6 Borrowings 856.8 978.1 Financial Assets Lease Liability 365.7 365.5 (i) Trade receivables 1,440.4 1,492.2 Trade Payables 1,410.5 1,552.6 (ii) Cash and cash equivalents 544.9 632.1 Other Financial Liabilities 109.4 185.1 (iii) Bank balances other than cash and cash equivalents 67.2 105.1 Other current liabilities 177.3 202.2 Other Current Assets 732.1 831.0 Total Current Assets 3,165.5 3,521.0 Total Current Liabilities 2,919.7 3,283.4 Total Assets 5,757.8 6,292.8 Total Equity & Liabilities 5,757.8 6,292.8 Net Debt - ₹ 285.7 Crs as of Sep ’25 *Note – Net debt is Borrowings less cash & bank balances and Bank deposits of more than 12 months part of other assets in the BS
Page 15
15 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Cashflow Statement in ₹ Cr Particulars H1 FY 25 H1FY26 Net Profit Before Tax 31.6 126.8 Adjustments for: Non Cash Items / Other Investment or Financial Items 324.9 266.2 Operating profit before working capital changes 356.5 392.9 Changes in working capital -246.8 -24.3 Cash generated from/(used in) operations 109.7 368.6 Direct taxes paid (net of refund) -30.9 -26.7 Net Cash from Operating Activities (A) 78.8 341.9 Cash from Investing Activities - Net cash used in Capex -36.2 -85.0 - Other investing activities -18.7 -36.1 Net Cash from Investing Activities (B) -54.8 -121.1 Cash from Financing Activities - Payment of principal and interest payments of lease liability -244.0 -236.9 - Other financing activities 24.2 81.7 Net Cash from Financing Activities (C) -219.8 -155.2 Net Cashflow from discontinued Activities Net Increase/ Decrease in Cash and Cash equivalents (A+B+C) -195.8 65.6 Net foreign exchange difference 16.3 21.7 Add: Cash & Cash equivalents at the beginning of the period 509.4 544.9 Cash & Cash equivalents at the end of the period 329.8 632.1 Cash from Operations H1 FY 26 ₹ 105 Crs H1 FY 25 (₹ 165) Crs Note: • Cash from Operations = Net cash from operating activities Less Payment of principal and interest payments of lease liability
Page 16
C O N F I D E N T I A L 16 /Admin/ADVANCED GRAPHICS/Cover and Template/2022_01/3657108-001_TVS SCS_Divider Options Restated segment numbers FY25
Page 17
17 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Restated FY25 numbers aligning with new segment structure Revenue by segment Revenue As is Revenue Restated Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY25 ISCS 1,425.9 1,348.5 1,301.2 1,421.0 5,496.5 ISCS 1,905.6 1,838.5 1,827.4 1,943.4 7,514.9 NS 1,113.5 1,164.4 1,143.5 1,077.9 4,499.2 GFS 633.8 674.4 617.2 555.4 2,480.8 Consol 2,539.4 2,512.9 2,444.6 2,498.8 9,995.7 Consol 2,539.4 2,512.9 2,444.6 2,498.8 9,995.7 Adj. EBITDA* As is Adj. EBITDA* Restated Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY25 ISCS 138.3 149.1 114.1 122.0 523.5 ISCS 169.5 150.0 148.2 164.7 632.5 Adj EBITDA % 9.7% 11.1% 8.8% 8.6% 9.5% Adj EBITDA % 8.9% 8.2% 8.1% 8.5% 8.4% NS 50.6 27.4 44.0 54.5 176.5 GFS 21.0 28.2 11.5 8.7 69.4 Adj EBITDA % 4.5% 2.4% 3.8% 5.1% 3.9% Adj EBITDA % 3.3% 4.2% 1.9% 1.6% 2.8% Consol 185.3 176.7 151.9 161.4 675.3 Consol 185.3 176.7 151.9 161.4 675.3 Adj EBITDA % 7.3% 7.0% 6.2% 6.5% 6.8% Adj EBITDA % 7.3% 7.0% 6.2% 6.5% 6.8% in INR Cr Adjusted EBITDA by segment *Adjusted for ESOPS, Forex Gain/Loss and redundancy costs incurred in respective quarters
Page 18
C O N F I D E N T I A L 18 /Admin/ADVANCED GRAPHICS/Cover and Template/2022_01/3657108-001_TVS SCS_Divider Options Company Overview
Page 19
19 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Master Data, e-Catalog, Forecasting & Procurement Planning & Optimization Control Centre & Tracking Inventory Planning & Optimization, Line Side Delivery Production Support & In-Plant Logistics Closed-Loop Logistics & Support Spares, Breakfix, Refurb & Engg. Support Courier & Consignment Management Secondary Transportation Sourcing & Procurement Logistics Operation Centre Integrated Transportation In-Plant Logistics Operations FG & AM Spares Fulfillment A tech-driven ISCS with end to end capabilities… Vision technology Warehouse automation & robotics IoT Process Automation Msys Product data | Inventory | Procurement Visibility Warehouse management i-ex Transport Analytics Business Intelligence
Page 20
20 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE …And a reliable and efficient GFS… Smooth customs clearance Assured space management Cost effective shipping Ocean freight Air freight Global Expertise E-Connect advantage
Page 21
21 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE …with a global business headquartered in India… Tamil Nadu Kerala Karnataka Andhra Pradesh Maharashtra Goa Telangana Chhattisgarh Odisha Madhya PradeshGujarat Rajasthan Punjab Haryana Uttar Pradesh Bihar Jharkhand West Bengal Sikkim Assam Arunachal Pradesh Meghalaya Nagaland Manipur Mizoram Tripura Delhi Uttarakhand Himachal Pradesh Jammu and Kashmir Pondicherry After market warehouse In-plant warehousing Dedicated consumer product & retail warehouse Multi-client facilities Forward stocking location National distribution centre Centre of Excellence (“CoE”) Global control tower Europe Asia Pacific (incl Oceana) And globally across four continentsWe are present across India North America Total warehouse space: 19.9 Mn sft No. of permanent employees: 13,012 Total warehouse space: 2.1 Mn sft No. of permanent employees: 2,571 Total warehouse space: 1.3 Mn sft No. of permanent employees: 734 Total warehouse space: 1.4 Mn sft No. of permanent employees: 484 Note: Warehouse space and employee count data as of 31 Mar 2025
Page 22
22 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE …and Experienced Management Team R. Dinesh Executive Chairman Ravi Viswanathan Managing Director R Vaidhyanathan Global CFO Dinesh Narayan Global CIO & Legal Ethirajan Balaji Global CHRO Kameswaran Sukumar CEO, India, Middle East & Africa Business Siddharth Jairaj CEO, APAC Region & GFS Business Richard Vieites CEO, Europe & North America Business Management Team Jonathan Croydon EVP, UK & Europe Business Regional CEOs Global Functional leads
Page 23
23 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Strategies for Growth : 3C Approach ✓ Deepen our customer relationships ✓ Acquire New Customers CUSTOMER 1 ✓ Continued innovation and investment in technology ✓ Continued focus on delivering value- added solutions and building end-to-end Capabilities ✓ Continue to invest in team, talent, and partners CAPABILITIES 2 ✓ Leverage our global network to expand into new markets ✓ Deepen presence in a country ✓ Continue to grow our global platform through targeted inorganic opportunities COUNTRY 3 We identify opportunities using the ‘C3 Framework’ in the three C’s - Customer, Capability and Country We started with offering single service to a customer and subsequently we have been able to expand this relationship and started to offer bundle of services to them across regions We have added multiple capabilities over the years in order to continue to enhance our customers supply chain and achieve higher efficiency in our operations throughout the whole supply chain Over the years we have expanded our geographical presence enabling us to accelerate growth, realize higher revenue and cost synergies and increase margins Our strategy revolves around ENCIRCLEMENT which focuses on increasing the wallet share of existing customers by generating incremental business by increasing the scope of our services
Page 24
24 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Our Medium-Term Outlook 0.5% Q4 FY 25 1.9% Operating Leverage 1.2% Project One 0.4% IFM turnaround 4.0% Q4 FY 27 Profit Before Tax Margin (%) Medium Term Goals PBT Margin: 8 - 11% Industry Best-in-Class* *Profile of Global Peers
Page 25
25 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Our Growth Vision Deep Domain Expertise Global Network Proprietary Technology
Page 26
C O N F I D E N T I A L 26 /Admin/ADVANCED GRAPHICS/Cover and Template/2022_01/3657108-001_TVS SCS_Divider Options Region wise segmental historical Overview
Page 27
27 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE ISCS Outperforming the GDP growth Regionally in ₹ Cr De-coupled to GDP growth Continued Revenue Momentum Consolidated ISCS Revenue 4,607 5,420 6,263 7,042 7,515 FY21 FY22 FY23 FY24 FY25 +13.0% 16% 11% 2%10% 9% 14% 28% 16% 17% 26% 26% 21% 4%1% FY21 FY25 Consolidated Industry Wise Breakup Industrial Automotive Tech and Tech Infra Consumer Rail and Utilities Healthcare Others Our ISCS business has outperformed the GDP growth in the market we operate and has grown at a CAGR of 13.0% between FY21 & FY25 Note - Prior period numbers are restated to reflect the change in segment effective Q1 FY 26
Page 28
28 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE ISCS – India Business in ₹ Cr India GDP & Manufacturing Growth ISCS India Revenue 1,331 1,617 2,042 2,145 2,067 FY21 FY22 FY23 FY24 FY25 +11.6% De-Risking with Diversification 19% 18% 14% 11% 44% 46% 17% 17% 4%2% FY21 5%4% FY25 55.4 54.0 56.4 59.1 58.1 -20 0 20 40 60 0 5 10 9.7% Mar-21 7.0% Mar-22 7.8% Mar-23 6.8% Mar-24 6.3% Mar-25 Key KPI ISCS India business grew by 11.6% CAGR over the last 4 years, outperforming the India GDP growth Outlook : Strategic portfolio realignment marginally impacted top line, but drives stronger bottom-line margins; FY26 to see strong growth momentum PMI GDP Top 20 Customers Average length of contracts 3.9 Years in FY25 Addition of new contracts & wallet share addition has enhanced the avg. revenue per contract by ~13% CAGR in FY25 over FY21 Industrial Automotive Tech and Tech Infra Consumer Rail and Utilities Others
Page 29
29 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE ISCS – North America Business in ₹ Cr US GDP & Manufacturing Growth ISCS North America Revenue 474 376 706 796 992 FY22 FY23 FY24 FY25FY21 +20.3% De-Risking with Diversification 10% 78% 40% 11% 56% 0% FY21 0%4% FY25 59.1 58.8 49.2 51.9 50.2 -20 0 20 40 60 0 5 10 1.9% Mar-22 2.5% Mar-23 2.7% Mar-24 1.9% Mar-25Mar-21 5.8% Key KPI ISCS North America business grew by 20.3% CAGR over the last 4 years, outperforming the US GDP growth Outlook : We have witnessed strong and consistent growth in our North America business. With continued momentum, we expect this trajectory to sustain through FY26, further strengthening our global portfolio PMI GDP Top 20 Customers Average length of contracts 4.2 Years in FY25 Addition of new contracts & wallet share addition has enhanced the avg. revenue per contract by ~33% CAGR in FY25 over FY21 Industrial Automotive Consumer Others
Page 30
30 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE ISCS – Europe Business in ₹ Cr UK GDP & Manufacturing Growth ISCS Europe Revenue 1,423 1,770 1,874 2,348 2,437 FY22 FY23 FY24 FY25FY21 +14.4% De-Risking with Diversification 21% 21% 33% 27% 19% 26% 22% 23% 5% FY21 4% FY25 58.9 55.8 47.9 50.3 44.9 -20 0 20 40 60 0 5 10 4.8% Mar-22 0.4% Mar-23 1.1% Mar-24 1.7% Mar-25Mar-21 8.7% Key KPI ISCS Europe business grew by 14.4% CAGR over the last 4 years, outperforming the UK GDP growth Outlook : Europe has consistently delivered growth every year. Setback in Q3 FY25 performance is a one-off event PMI GDP Top 20 Customers Average length of contracts 7.0 Years in FY25 Addition of new contracts & wallet share addition has enhanced the avg. revenue per contract by ~16% CAGR in FY25 over FY21 Industrial Automotive Consumer Rail and Utilities Others
Page 31
31 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE IFM Performance Revenue ₹1,852 Crs Countries 9 Customers 1,092 FY25 6.4% 12.4%7.9% 5.4%9.7% 6.3% 16.9% 10.1% 20.3% 23.9% 42.0% FY21 FY25 38.8% Technology Industrial Logistics Services Financial Services Telecom Others *Prior period financials presented for Continuing Operations; post classification of Circle Express as discontinued business Diversified across industries Demonstrated Growth in Revenues* 1,403 1,679 1,682 1,802 1,852 FY21 FY22 FY23 FY24 FY25 +7.2% ✓ New order wins for FY25 were strong, amounting to 36% of our FY21 revenues, reflecting continued growth momentum and successful customer acquisition. ✓ Additionally, we undertook price increases with significant number of customers during the year, supporting our margin improvement efforts and reinforcing the value we deliver across our services. New Order Wins Continue... Key Highlights ✓Successfully turned around operations by Q4FY25 led by cost efficiencies and price increases with customers ✓Revenue continues to be steady on account of new business development and encirclement Outlook Upward growth momentum in both revenue and profitability to continue driven by operational efficiencies
Page 32
32 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE GFS Performance 2,169 2,605 2,987 2,388 2,286 1,074 834 0 FY21 FY22 FY23 -149 FY24 195 FY25 2,169 3,679 3,821 2,239 2,481 Revenue from Operations with Impact due to Pricing 95,678 1,07,576 1,07,278 83,504 91,608 20,946 24,707 30,598 26,458 22,709 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 FY21 FY22 FY23 FY24 FY25 Ocean (In TEU) Air (In Ton) Impact on account of Pricing Revenue (ex. of pricing) Volumes Outlook ✓ The GFS segment continues to be sensitive to broader macroeconomic fluctuations, which may impact pricing and demand dynamics ✓ Targeted cost reduction initiatives have been implemented to partially offset these challenges and will continue to be implemented, helping to preserve margin stability and enhance business resilience World Container Index ($ per 40ft. Container) 0 2000 4000 6000 8000 10000 12000 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Note – FY 25 numbers are restated to reflect the change in segment effective Q1 FY 26
Page 33
33 COLOR PALETTE Text 33 37 41 Title bar/Bullets 204 222 238 ACCENTS 1 0 65 120 99 183 255 2 0 139 201 131 217 255 3 9 167 156 114 248 239 4 109 124 255 197 203 255 5 156 48 128 226 161 209 6 204 222 238 235 242 248 Hyperlink 33 37 41 158 168 177 Followed Hyperlink 166 182 64 221 228 177 Lines 33 37 41 Highlights 204 222 238 TABLE Diverse customer base with long term relationships Consolidated Revenue by customer sector (FY25) Diversified customer base Long term customer relationships Avg. length of relationships: of top 10 customers in FY25 Industrial 29.14% Automotive 24.93% Tech and Tech Infra 12.82% Consumer 12.75% Rail and Utilities 7.89% Healthcare 2.00% Others 10.48% 13.2 13.6 ISCS GFS No. of Fortune 500 customers FY22 61 FY23 72 FY24 78 FY25 91
Page 34
Thank You Company: TVS Supply Chain Solutions Limited CIN: L63011TN2004PLC054655 Mr. Prabhu Hariharan - Head Investor Relations Email: investor.relations@tvsscs.com For updates and specific queries, please visit www.tvsscs.com Investor Relations: Strategic Growth Advisors Pvt. Ltd. www.sgapl.net CIN: U74140MH2010PTC204285 Mr. Sagar Shroff / Mr. Ayush Haria Email: sagar.shroff@sgapl.net / ayush.haria@sgapl.net +91 98205 19303 / +91 98204 62966