TVS Motor vs Visteon: Revenue, Profit and Business Model
TVS Motor had ~$6.5B of annual revenue in FY2026 and ~$350.1M of net income. Visteon had $3.8B of annual revenue in FY2025 and $201M of net income.
Latest financial snapshot
Financial summary
TVS Motor
In FY2026 TVS Motor posted consolidated revenue of ~$6.5 billion (₹56,028 crore) (up from ~$5.12 billion (₹44,134 crore)) and profit attributable to owners of ~$350 million (₹3,018 crore), up 35%. Standalone revenue rose 30% to ~$5.48 billion (₹47,270 crore), operating EBITDA grew 37% to ~$705 million (₹6,079 crore) (12.9% margin) and operating PBT rose 40% to ~$577 million (₹4,975 crore). Momentum continued in Q1 FY2027 (April-June 2026): consolidated revenue rose 33.5% to ~$1.89 billion (₹16,296 crore) and consolidated net profit jumped 67% to ~$118 million (₹1,019 crore), with standalone EBITDA margin at 12.8%.
Visteon
Visteon's 2025 net sales fell about 3% to USD 3.768 billion, with price-downs and lower BMS volumes offsetting roughly 20% growth in displays. Profitability still improved: gross margin was USD 532 million and adjusted EBITDA a record USD 492 million (13.1%). Net income attributable to Visteon dropped to USD 201 million from USD 296 million, mainly because of tax valuation allowance changes and a pension transfer charge. In Q2 2026, sales were USD 960 million versus USD 969 million a year earlier, adjusted EBITDA was USD 116 million, net cash was USD 351 million, and the company reaffirmed full-year sales guidance of USD 3.625 billion to USD 3.825 billion.
Revenue and profit by year
TVS Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$6.5B | ~$350.1M | 5.4% | +26.9% | Source |
| FY2025 | ~$5.1B | ~$259.3M | 5.1% | +13.6% | Source |
| FY2024 | ~$4.5B | ~$195.6M | 4.3% | +21.1% | Source |
| FY2023 | ~$3.7B | ~$154.1M | 4.1% | +31.7% | Source |
| FY2022 | ~$2.8B | ~$87.8M | 3.1% | — | Source |
Visteon
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $3.8B | $201M | 5.3% | -2.5% | Source |
| FY2024 | $3.9B | $296M | 7.7% | -2.2% | Source |
| FY2023 | $4B | $568M | 14.4% | +5.3% | Source |
| FY2022 | $3.8B | $124M | 3.3% | +35.4% | Source |
| FY2021 | $2.8B | $41M | 1.5% | +8.8% | Source |
| FY2020 | $2.5B | -$56M | -2.2% | -13.5% | Source |
| FY2019 | $2.9B | $70M | 2.4% | -1.3% | Source |
| FY2018 | $3B | $164M | 5.5% | -5.1% | Source |
| FY2017 | $3.1B | $176M | 5.6% | -0.5% | Source |
| FY2016 | $3.2B | $75M | 2.4% | — | Source |
Where the revenue comes from
TVS Motor
- Domestic Motorcycle Sales38
Sales of commuter and performance motorcycles across India, powered by the flagship Apache RTR and RR performance series and commuter models such as the Raider 125 and Radeon.
- Scooter Portfolio (ICE & Electric)30
Market-leading scooter lineup headlined by the TVS Jupiter family, sporty TVS Ntorq 125, and the rapidly growing TVS iQube electric scooter ecosystem.
- International Exports20
Direct vehicle and CKD kit exports to more than 80 countries spanning Africa, Latin America, Southeast Asia, and the Middle East, alongside overseas assembly in Karawang, Indonesia.
- Mopeds, Commercial 3-Wheelers & Spare Parts12
High-margin genuine replacement parts, authorized dealer workshop services, TVS King passenger/cargo 3-wheelers, and the utilitarian TVS XL100 heavy-duty moped.
Visteon
- Digital cockpit electronics
- Automotive displays
- Instrument clusters
- Infotainment systems
- Cockpit domain controllers
- Battery management systems
Business model and strategy
TVS Motor
How it makes money
TVS Motor Company operates a high-volume, integrated two-wheeler and three-wheeler manufacturing business model, generating revenue through the engineering, assembly, and global wholesale distribution of commuter motorcycles, premium performance bikes, scooters, and urban electric vehicles.
Growth strategy
TVS Motor Company's growth strategy centers on three strategic pillars: aggressive premiumization, multi-category electrification, and global market expansion.
Competitive advantage
TVS Motor Company's competitive advantage stems from its award-winning engineering excellence, being the only two-wheeler company to win the prestigious Deming Prize for total quality management, combined with strong brand equity in sporty performance motorcycles (Apache series) and early leadership in the electric vehicle transition with its best-selling iQube electric scooter family.
Visteon
How it makes money
Visteon is a Tier 1 supplier. It bids for cockpit electronics programs on specific vehicle platforms, usually years before production starts, and is paid per unit once those vehicles are built. Displays, instrument clusters, infotainment and SmartCore domain controllers make up most sales, with battery management systems for EVs a smaller line.
Growth strategy
Visteon's growth strategy is to deepen its digital cockpit portfolio, win more domain controller and display programs, expand with Asian and European OEMs, support electric and software-defined vehicle platforms, and use disciplined M&A or partnerships to add technology.
Competitive advantage
Visteon's advantage comes from focus. After exiting climate and interiors, it became a cockpit electronics specialist with global engineering, OEM qualification history, and domain-controller know-how. It has the credibility to win programs with large automakers and the operating discipline to convert those wins into margins.
Questions about TVS Motor vs Visteon
Which company has higher revenue — TVS Motor Company or Visteon Corporation?
TVS Motor Company had ~$6.5B (FY2026), while Visteon Corporation had $3.8B (FY2025). By latest annual revenue, TVS Motor Company is the larger business, with Visteon Corporation showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of TVS Motor Company vs Visteon Corporation?
TVS Motor Company has a market capitalisation of $20.8B. A public market cap figure for Visteon Corporation was not available (it may be privately held).
How does revenue per employee compare for TVS Motor Company and Visteon Corporation?
TVS Motor Company has $1.18M / employee in revenue per employee, while Visteon Corporation has $359k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do TVS Motor Company and Visteon Corporation make money?
TVS Motor Company and Visteon Corporation generate revenue in fundamentally different ways. TVS Motor Company: TVS Motor Company operates a high-volume, integrated two-wheeler and three-wheeler manufacturing business model, generating revenue through the engineering, assembly, and global wholesale distribution of commuter motorcycles, premium performance bikes, scooters, and urban electric vehicles. Visteon Corporation: Visteon is a Tier 1 supplier.
Is TVS Motor Company bigger than Visteon Corporation?
By last reported revenue, TVS Motor Company (~$6.5B (FY2026)) is the larger company compared to Visteon Corporation ($3.8B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the TVS Motor vs Visteon overview