Chennai-based TVS Supply Chain Solutions Ltd (TVS SCS) has entered FY27 with growing confidence as strong momentum in India, a turnaround in Europe operations and robust freight forwarding volumes helped the company navigate global pricing pressures and geopolitical disruptions during the fourth quarter.
The company’s two core businesses — Integrated Supply Chain Solutions (ISCS) and Global Forwarding Solutions (GFS) — delivered broad-based growth across regions, with management highlighting improving execution in India, Europe and North America.
GFS emerged as the strongest growth driver during the fourth quarter, recording a 34.8 per cent year-on-year rise, led by a sharp recovery in India-driven ocean freight volumes. The performance came despite volatility in global freight rates.
Ravi Viswanathan, Managing Director, TVS SCS, said the company remains optimistic about India-led freight demand and expects GFS to perform better in FY27 than FY26, although pricing pressures continue to persist globally.
“It is important to note that the GFS business continues to operate at structurally lower margins and the global freight industry is currently facing uncertainty influenced heavily by war-induced trade disruptions across major trade routes,” he said.
Management said India freight volumes witnessed “tremendous growth” during the quarter and the momentum is expected to continue into FY27.
Volume growth
While GFS drove volume growth, the ISCS business continued to anchor profitability. ISCS India posted a strong 17.3 per cent year-on-year growth in Q4, supported by new business wins and execution momentum.
Europe operations also witnessed a significant turnaround, with margin expansion aided by “Project One” cost optimisation initiatives and a better business mix. Sequential growth in ISCS Europe stood at 15.7 per cent.
The company said its US strategy is increasingly focused on deepening relationships with a smaller set of large industrial and automotive customers instead of pursuing broad-based expansion.
Viswanathan said the company has delivered over 28 per cent CAGR growth in the US over the past five years through an “account-centric” strategy focused on expanding wallet share with large customers.
“ Five years ago, the US was really a scattered map. But today we are getting deeper into fewer customers,” he said.
Vikas Chadha, Global Chief Executive Officer, said business development momentum remained strong during FY26.
In Q4, we recorded new business wins of ₹523.7 crore, which is an all-time high in a quarter, he said.
For the full year, new business wins stood at ₹1,207 crore, representing 12.1 per cent of FY26 revenue.
Management said the company secured mandates from leading electric vehicle, industrial equipment, retail, technology and global manufacturing firms across both ISCS and GFS segments.
Published on May 26, 2026