Category: Corporate

In a bold step into the future of pharmaceutical innovation, Eli Lilly and Company has joined forces with NVIDIA Corporation to construct what the companies describe as the most powerful artificial-intelligence supercomputer ever built for the pharmaceutical industry. 

The collaboration, announced October 28, 2025, aims to dramatically accelerate the discovery and development of new medicines by harnessing next-generation computing power and deep learning models. 

Under the partnership’s terms, Lilly will host and operate the system within its own facilities, utilising more than 1,000 of NVIDIA’s latest generation Blackwell Ultra GPUs and a DGX SuperPOD architecture built specifically for large-scale life-science workflows. 

The infrastructure is designed to support “millions of virtual experiments in parallel”, enabling the company’s scientists to explore vast chemical and biological spaces with far greater speed and scale than traditional approaches. 

Lilly emphasises that the initiative is not just about speed but about intelligence: the supercomputer will power an “AI factory” in which models will not only be trained on decades of Lilly’s internal data, but deployed across functions including molecule design, biomarker discovery, clinical trial optimisation and manufacturing efficiency. 

The companies say the installation is expected to be operational by January 2026, with the hardware being deployed in Lilly’s headquarters in Indianapolis and powered entirely by renewable electricity within its existing data-centre footprint. 

NVIDIA’s Mission Control software will orchestrate the workloads across the DGX SuperPOD, enabling efficient scheduling, monitoring and orchestration of AI operations within a highly regulated pharmaceutical environment. 

From an industry perspective, the move signals a broader shift in drug discovery: the combination of deep biology, high-performance computing and AI is increasingly seen as a key to reducing the decade-long timelines and multi-billion-dollar cost burdens typical of bringing a new medicine to market. 

Lilly says the supercomputer will support its federated AI platform, TuneLab, which gives smaller biotech partners access to Lilly-trained models while preserving data privacy via federation. 

Analysts note that while many pharmaceutical companies have begun deploying AI in pockets, few have committed to building in-house hardware of this scale. 

Lilly’s strategy may provide a competitive edge by keeping its data and models within its own secure infrastructure rather than depending solely on cloud services. 

Also Read: Apple Joins $4 Trillion Market-Cap Club After iPhone 17 Surge

In a strategic move ahead of its public listing, SBI Mutual Fund, via its alternative investment vehicles, has committed ₹100 crore to acquire shares in India’s leading eyewear retailer, Lenskart Solutions Limited.

This investment was made through two of its funds – the SBI Optimal Equity Fund (AIF) and the SBI Emergent Fund (AIF) – in a pre-IPO transaction in which roughly 24.87 lakh equity shares were purchased at a price of ₹402 per share. 

The shares were acquired from one of Lenskart’s promoters, Neha Bansal.

Prior to the deal, she held a 7.61 per cent stake in the company’s fully diluted share capital; following the transaction she continues to hold approximately 7.46 per cent. 

Lenskart’s forthcoming initial public offering (IPO) is scheduled to open on October 31, 2025, and the investment by SBI’s funds underlines institutional confidence in the eyewear retailer’s growth story and market positioning. 

According to reports, the transaction effectively values Lenskart at around $7.7 billion (approximately ₹64,000 crore at prevailing conversion rates).

This marks a considerable premium over earlier valuations of the company. 

Lenskart, founded in 2008 and having launched its online eyewear business circa 2010, has since expanded into a strong omni-channel presence with both e-commerce operations and physical retail stores across India, and increasingly in international markets. 

The funding will support its expansion plans, including scaling of company-owned physical stores, upgrading digital infrastructure, pursuing potential acquisitions and bolstering brand marketing. 

This pre-IPO deal comes on the heels of another significant transaction: billionaire investor Radhakishan Damani (via his investment vehicle) had invested around ₹90 crore in Lenskart through a separate pre-IPO share purchase. 

Analysts see the move by SBI’s funds as reflective of not only the strength of Lenskart’s business model in the consumer-retail space but also the broader appetite for high-growth consumer brands in India’s capital markets.

By entering ahead of the IPO, the funds lock in exposure at a defined entry price, while positioning for potential upside once the company lists.

The investment also signals a vote of confidence in Lenskart’s ability to convert its scale and brand reach into sustained profitability and growth.

For SBI Mutual Fund, this represents a diversification into private market opportunities ahead of public listing, leveraging its AIF structures to participate in a pre-IPO equity transaction.

Also Read: Jindal Steel Names Gautam Malhotra CEO After Disappointing Q2

In a significant leadership change, Jindal Steel Ltd (JSL) on Tuesday announced the appointment of Gautam Malhotra as its Chief Executive Officer, even as the company reported a below-expectations performance for the second quarter of the fiscal year.

Malhotra, who joined Jindal Steel in May 2024, has since worked across its mining, production, human resources, logistics, technology and sales verticals.

The appointment signals a strategic push by the company’s board to accelerate operational and commercial transformation.

For the quarter ended September 30, JSL posted a consolidated net profit of ₹635.08 crore, down about 26.2 percent year-on-year from ₹860.47 crore in the same period last year.

Revenue from operations rose modestly by 4.21 percent to ₹11,685.88 crore, up from ₹11,213.31 crore a year earlier.

Despite the increase in revenue, JSL’s margin contraction and lower profit raise fresh concerns about its near-term growth trajectory.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell around 12 percent year-on-year to ₹1,875 crore, while the EBITDA margin slipped to 17.8 percent from 24.4 percent a year earlier.

Production volumes also dipped. JSL reported total production of 2.00 million tonnes (MT) in the quarter, down 5 percent sequentially, while sales were 1.87 MT, a decrease of 2 percent from the previous quarter.

Export share rose to 10 percent from 7 percent in the prior quarter, but the overall decline in performance was noted by analysts.

In a positive move on the investment front, the company’s net debt stood at ₹14,156 crore at the end of the quarter, slightly lower than ₹14,400 crore at the end of June 2025, offering some relief to investors.

Capital expenditure for the quarter was reported at ₹2,699 crore, largely driven by expansion work at the Angul plant in Odisha.

Jindal Steel is also advancing its Angul facility, where a new blast furnace has more than doubled hot-metal capacity to 8.85 million tonnes per annum (mtpa) from 4.25 mtpa, and with the addition of a basic oxygen furnace it has raised crude steel capacity to 9 mtpa at the site.

The company remains on track to reach a total capacity of 15.6 mtpa by the end of this financial year.

The appointment of Malhotra comes after a five-year period during which JSL did not have a designated CEO, underscoring the board’s decision to bring in stronger executive leadership to navigate challenges in a competitive steel industry.

Analysts highlight that while Malhotra brings extensive experience across operational and commercial domains, he does not have a traditional steel-industry background, prompting closer scrutiny of his execution capabilities.

For JSL, the dual message to markets is clear: the company is recognising near-term headwinds while simultaneously laying the groundwork for a strategic reset.

Scaling up production, improving margin performance and leveraging new leadership under Malhotra will be key to regaining investor confidence.

With commodity cycles remaining volatile and competition intensifying, the steelmaker’s next set of results will be closely watched for signs of turnaround momentum.

Also Read: Apple Joins $4 Trillion Market-Cap Club After iPhone 17 Surge

Apple Inc. briefly vaulted past the $4 trillion market-capitalization mark on Tuesday, becoming the third publicly traded company to touch that valuation after Nvidia and Microsoft, as a rally in its shares was fueled by stronger-than-expected early demand for the iPhone 17 lineup.

Shares of Apple climbed as traders cheered data showing the iPhone 17 series had outperformed the previous generation in its initial days on sale, helping to allay investor concerns about the company’s pace in artificial-intelligence development.

The stock briefly traded near $270, pushing the company’s market value just above $4 trillion before it retreated slightly by the close.

Analysts and market watchers attributed the move mainly to upbeat handset sales in key markets such as the United States and China.

The milestone follows a sequence of tech giants reaching the same rarefied valuation this year: Nvidia led the way after a blistering AI-driven surge in its stock, and Microsoft subsequently joined the $4 trillion club as its cloud and AI businesses accelerated.

Apple’s entrance, even if brief, underscores how mainstream product cycles can still reshape investor sentiment in an era otherwise dominated by excitement around enterprise AI platforms.

Market data show the move was supported by tangible metrics: industry trackers reported a double-digit uptick in early iPhone 17 sales compared with the last cycle, with stronger uptake in both the U.S. and Chinese markets.

That sales momentum has translated into renewed confidence about Apple’s near-term revenue trajectory, including positive spillovers to services and accessories, though some investors caution that hardware cycles can be cyclical and short-lived.

Despite the headline milestone, commentators noted that Apple’s stock performance this year has been more modest than that of its AI-centric peers.

While Nvidia and Microsoft have seen larger percentage gains tied to AI optimism, Apple has trailed on a year-to-date basis — a point that keeps some analysts asking whether the company’s longer-term valuation should reflect a deeper AI strategy beyond device sales.

Still, the firm’s steady ecosystem revenues, growing services business and disciplined capital returns have been highlighted as stabilizing factors that underpin the recent price move.

Investors will next turn their attention to Apple’s forthcoming quarterly results for clearer confirmation that handset demand and services growth will sustain the company’s elevated valuation.

For now, the brief entry into the $4 trillion club is likely to intensify scrutiny of how consumer hardware cycles and enterprise AI narratives interact to reshape the market leadership landscape among Big Tech.

Also Read: L&T Strengthens Saudi Footprint With Multiple Contracts

Larsen & Toubro (L&T) has expanded its footprint in Saudi Arabia with a series of major new awards spanning heavy engineering, energy, and luxury-resort infrastructure, reinforcing the Indian conglomerate’s growing role in the kingdom’s ambitious industrial and tourism development drive.

In its heavy engineering vertical, L&T has secured a significant order linked to a refinery and integrated petrochemical complex in Saudi Arabia.

Industry reports describe the contract as part of a revamp involving a high-oil-flow catalytic cracking component, including reactor and regenerator works.

The project underscores L&T’s strong credentials in complex downstream assignments and its expanding role in Saudi Arabia’s refinery modernization and petrochemical expansion programs.

The company’s heavy engineering division has also received orders connected to the Jafurah gas project — Saudi Arabia’s flagship unconventional gas initiative led by Saudi Aramco.

The Jafurah project is one of the world’s largest shale gas developments, representing an estimated investment exceeding $100 billion.

L&T’s involvement in the project reinforces its position as a preferred contractor for specialized fabrication and process equipment as the kingdom moves from early-stage gas production to the development of supporting infrastructure.

Analysts believe that contractors like L&T will continue to benefit from the project’s phased expansion, which includes midstream and downstream monetization of gas and associated liquids.

Meanwhile, L&T’s construction arm has been awarded a major engineering, procurement, and construction (EPC) contract for Amaala, the ultra-luxury tourism destination located along Saudi Arabia’s northwestern Red Sea coast.

The contract covers the development of renewable generation systems, power utilities, and water management infrastructure for the destination, aligning with Saudi Arabia’s broader vision to integrate sustainability and low-carbon systems into its tourism sector.

Amaala is part of the kingdom’s Vision 2030 plan to diversify its economy by investing in non-oil industries, including luxury tourism, hospitality, and renewable energy.

These recent awards mark a continuation of L&T’s international growth momentum.

Over the past few years, the company has steadily strengthened its presence in the Gulf Cooperation Council (GCC) region, particularly in Saudi Arabia, the UAE, and Qatar.

With the kingdom pursuing a dual strategy of expanding its non-oil economy and developing massive energy infrastructure, Indian engineering and construction companies such as L&T are increasingly emerging as vital partners in execution.

Industry observers say the latest Saudi contracts validate L&T’s technical and project management capabilities, especially in high-value sectors such as process plants, offshore fabrication, and sustainable utilities.

They also demonstrate the company’s ability to align with global trends emphasizing local partnerships, renewable integration, and advanced engineering solutions.

The company is expected to share more details regarding order size and execution timelines in its upcoming financial disclosures.

For now, the Saudi contracts further cement L&T’s reputation as one of India’s most globally integrated engineering giants and position it favorably to capitalize on the kingdom’s multibillion-dollar transformation agenda under Vision 2030.

Also Read: Uber, NVIDIA to Launch Global Robotaxi Delivery Fleets

Uber Technologies Inc. has announced a major partnership with chipmaking giant NVIDIA to accelerate the development and deployment of next-generation robotaxi and autonomous delivery fleets powered by artificial intelligence.

The collaboration marks a significant step in Uber’s strategy to expand its global autonomous vehicle operations using NVIDIA’s advanced AI and self-driving technology platforms.

According to Uber, the partnership will see the integration of NVIDIA’s latest DRIVE AGX Hyperion platform, featuring the safety-certified DriveOS operating system and full-stack DRIVE AV software, purpose-built for Level 4 (L4) autonomy.

These systems will power Uber’s forthcoming autonomous fleets, capable of operating without human intervention under specific conditions.

As part of the initiative, automotive major Stellantis will be among the first original equipment manufacturers (OEMs) to supply Uber with at least 5,000 NVIDIA-DRIVE-powered Level 4 vehicles for robotaxi operations across the United States and international markets.

Uber will oversee the comprehensive management of these fleets, including remote assistance, maintenance, cleaning, charging, and customer support.

“NVIDIA is the backbone of the AI era, and is now fully harnessing that innovation to unleash L4 autonomy at enormous scale, while making it easier for NVIDIA-empowered AVs to be deployed on Uber,” said Dara Khosrowshahi, CEO of Uber. “Autonomous mobility will transform our cities for the better, and we’re thrilled to partner with NVIDIA to help make that vision a reality.”

NVIDIA’s founder and CEO Jensen Huang called the Uber collaboration a milestone in the broader transformation of mobility. “Robotaxis mark the beginning of a global transformation in mobility — making transportation safer, cleaner, and more efficient. Together with Uber, we’re creating a framework for the entire industry to deploy autonomous fleets at scale, powered by NVIDIA AI infrastructure,” Huang said.

The partnership will extend beyond fleet development to build a scalable, open technology ecosystem for Level 4 autonomy.

Uber and NVIDIA said they will collaborate with a range of autonomous driving partners—including Aurora, Avride, May Mobility, Momenta, Motional, Nuro, Pony.ai, Waabi, Wayve, and WeRide—to advance self-driving solutions across ride-hailing, trucking, and last-mile delivery sectors.

Both companies are also working on a “robotaxi data factory” powered by NVIDIA’s Cosmos platform for physical AI, which will help accelerate model training and validation.

Uber aims to collect more than three million hours of driving data specific to robotaxi operations, which will be used to improve AI training models and enhance autonomous decision-making capabilities. NVIDIA will provide GPUs, simulation tools, and data infrastructure to support these efforts.

Industry analysts say the tie-up underscores the growing convergence between mobility platforms and AI computing firms, as companies seek to commercialize autonomous transport at scale.

With Uber’s operational network and NVIDIA’s hardware and software ecosystem, the partnership could help bring robotaxi technology closer to mainstream deployment.

If successful, the initiative may mark one of the most ambitious efforts yet to deploy fully autonomous fleets globally — transforming the way passengers and goods move through urban environments and positioning both Uber and NVIDIA at the forefront of the next major shift in transportation technology.

Also Read: HDFC Bank Puts Bankers on Leave Amid Credit Suisse Bond Probe

Microsoft and OpenAI have announced a new definitive partnership agreement that restructures their relationship and sets out how the companies will collaborate as artificial intelligence advances toward Artificial General Intelligence (AGI).

The deal marks the latest evolution of a partnership that began in 2019, initially as Microsoft’s investment in a research-focused startup and later becoming one of the most influential alliances in global technology.

Under the new arrangement, Microsoft is supporting OpenAI’s plan to transition to a public benefit corporation, or PBC.

Following a recapitalization tied to this structural shift, Microsoft’s investment in the newly formed OpenAI Group PBC is valued at approximately $135 billion.

This represents about 27 percent ownership on an as-converted diluted basis across all stakeholders, including employees, outside investors, and the OpenAI Foundation.

Prior to recent funding rounds, Microsoft held roughly 32.5 percent in the company’s for-profit entity.

The agreement preserves core components that defined the collaboration to date.

OpenAI remains Microsoft’s exclusive partner for frontier AI models, and Microsoft continues to hold exclusive rights to OpenAI’s model-related intellectual property and Azure cloud API access until OpenAI formally declares AGI.

However, that declaration will no longer be solely determined by OpenAI. Under the new terms, the claim that AGI has been achieved must be independently verified by a panel of external experts.

The deal also introduces new flexibility for both organizations. Microsoft’s intellectual property rights related to OpenAI models and products now extend through 2032 and include rights to post-AGI models under certain safety and governance restrictions.

Microsoft’s rights to research-related IP—defined as confidential methods used to build models and systems—remain in place until either AGI is independently verified or until 2030, whichever occurs first.

Research IP does not include model architecture, weights, inference or finetuning code, or any hardware and data-center-related IP, which Microsoft retains rights to.

The revised terms expand OpenAI’s freedom to collaborate beyond Microsoft. OpenAI may now jointly develop products with third parties.

API-based products must continue to run on Microsoft’s Azure cloud, but non-API products may be hosted on any cloud provider. Microsoft also gains the right to pursue AGI development independently or with other partners.

If Microsoft uses OpenAI’s intellectual property to pursue AGI before OpenAI declares it, the development is subject to substantial compute limits designed to protect against uncontrolled escalation.

Financially, the agreement allows OpenAI to provide API access to U.S. national-security customers regardless of cloud provider, and permits the company to release open-weight models that meet agreed capability criteria.

OpenAI has also contracted to purchase an additional $250 billion worth of Azure cloud services, though Microsoft will no longer hold the right of first refusal to serve as the company’s primary compute provider.

The revenue-sharing agreement between the companies remains in place until AGI is verified, with payments now spread over a longer period.

The companies framed the announcement as a progression into a new phase of collaboration—one that balances shared innovation with greater autonomy.

In the joint statement, Microsoft emphasized that, as the partnership moves forward, both organizations are positioned to continue creating “real-world value” while expanding opportunities for users, developers, and businesses.

The agreement underscores the rapidly shifting landscape of AI development, where strategic partnerships, cloud computing scale, governance, and intellectual property rights are increasingly intertwined with the race toward advanced, general-purpose AI systems.

Also Read: TVS Motor Posts 37% Jump in YoY Net Profit

Tata Motors has confirmed the much-anticipated relaunch of its iconic SUV nameplate, Tata Sierra, set for November 25, 2025.

The revival aims to blend the nostalgic styling of the original Sierra, which debuted in India in the early 1990s, with contemporary design and technology that align with the automaker’s current ambitions.

The new Sierra will be introduced initially in internal-combustion engine (ICE) versions, while an electric vehicle (EV) variant is expected to follow shortly thereafter.

Tata Motors has positioned the model as a key addition to its SUV portfolio, slotting it above the current Curvv model and targeting a premium segment below the Harrier.

Design previews and spy photos suggest the 2025 Sierra retains hallmark cues of its predecessor — such as the upright bonnet, tall profile and expansive rear glass (often dubbed the “Alpine” window) — while integrating modern elements like flush door handles, full-width LED light bars, shark-fin antenna and a robust off-road stance.

Interior reports show a steep step-up for the cabin: Tata is expected to offer a triple-screen digital layout (driver display, center touchscreen and front-passenger screen), ambient lighting, ventilated seats, panoramic sunroof and a full Level 2 ADAS suite.

On the powertrain front, the new Sierra is tipped to carry petrol and diesel options in its ICE range, with a 1.5-liter turbo petrol and a 2.0-liter Kryotec diesel being likely candidates.

Later, the EV version is expected to ride on Tata’s Acti.EV architecture featuring dual-motor all-wheel-drive capability and a claimed range in excess of 500 km.

Pricing speculation places the starting ex-showroom price somewhere in the ₹13.5 lakh to ₹24 lakh range, though industry watchers expect the final numbers to be announced at the launch event.

Analysts note that the Sierra’s return aligns with a broader strategy by automakers to tap into nostalgia while offering modern relevance.

As one report observed, the 90s-era Sierra holds cult status, and Tata Motors is leveraging that emotional recall by blending its 1990s charm with modern design, advanced technology and both EV and ICE options.

For Tata Motors, the timing is critical: the SUV segment in India remains fiercely competitive, and the manufacturer’s ability to deliver both volume and margin from a legacy nameplate will be closely watched.

The company’s decision to launch ICE versions first, followed by an EV, reflects market realities: while EV adoption is rising, ICE models still dominate many buyer segments in India.

The ICE-first approach enables the Sierra to begin volumes earlier, with the EV variant likely helping future portfolio transition.

Market observers will be closely watching how the Sierra fares against established rivals such as the Hyundai Creta, Maruti Grand Vitara and Kia Seltos, especially given its legacy appeal and positioning.

As Tata Motors gears up for the November 25 unveiling, consumer interest appears high. The revival of the “Sierra” badge — once one of India’s earliest lifestyle SUVs — could mark one of the most talked-about launches in the Indian automotive calendar this year.

Whether the new model will live up to its heritage and deliver the promised blend of legacy, technology and performance remains to be seen.

Also Read: TVS Motor Posts 37% Jump in YoY Net Profit

India’s largest private-sector lender, HDFC Bank Ltd., has placed two senior executives on leave in connection with an internal investigation into the sale of high-risk bonds issued by Credit Suisse Group AG.

According to reports, the move follows complaints that some clients were not adequately informed of the risk profile of the so-called Additional Tier 1 (AT1) instruments.

The two executives were reportedly involved in trades of the AT1 securities which were among the broader global fallout after Credit Suisse’s emergency takeover by UBS Group AG in 2023.

The takeover triggered the complete write-off of the bonds, saddling investors worldwide with substantial losses.

HDFC Bank, in its response to Bloomberg, said it has “not come across any instances of mis-selling till now” and emphasised that it “takes any matter pertaining to its reputation with utmost seriousness and is committed to addressing any concerns raised by stakeholders.”

The probe reportedly spans several months and is focused on identifying who within the bank authorised the sale of the AT1 securities, whether internal approvals were properly obtained and whether client suitability was adequately assessed.

The investigation gained impetus after a regulator in Dubai flagged deficiencies in HDFC Bank’s processes.

The bank disclosed in a regulatory filing that the Dubai Financial Services Authority (DFSA) had restricted its Dubai branch from onboarding new customers due to lapses in the provision of financial services to clients not formally onboarded at the Dubai International Financial Centre (DIFC).

Though the filing did not directly link the restriction to the AT1 bond trades, people familiar with the matter said it was a factor in the bank’s decision to impose the leave on the executives.

AT1 bonds are a class of hybrid debt instruments introduced after the global financial crisis to absorb losses in stressed banks before taxpayer funds are used.

They offer higher yields but rank lowest in the repayment hierarchy, meaning an investor can lose their principal in a recapitalisation event.

Notably, in India, regulators prohibit the sale of AT1 bonds to retail investors; only “professional investors” with more than US $1 million in investable assets are eligible.

Some HDFC Bank customers have alleged that they were not clearly informed about the high-risk nature of these bonds, although the bank maintains it adhered to all applicable laws.

HDFC Bank’s decision to place the executives on leave appears to be a precautionary move while the investigation continues.

The bank has not yet reached any definitive conclusion of wrongdoing, and no public statement has been made regarding specific outcomes or potential remediation for affected clients.

Also Read: TVS Motor Posts 37% Jump in YoY Net Profit

TVS Motor Company reported a robust set of results for the second quarter ended September 30, 2025, with standalone net profit rising 37 percent year-on-year to ₹906 crore and operating revenue climbing 29 percent to a record ₹11,905 crore, the company said on Tuesday.

The earnings beat was driven by healthy volume growth across the company’s product portfolio and an improvement in operating leverage. 

Total vehicle sales grew about 23 percent year-on-year in the quarter, led by a 20 percent rise in motorcycle volumes, a 30 percent jump in scooters and a 41 percent increase in three-wheelers, the company said. 

These volume gains translated into stronger operating EBITDA of ₹1,509 crore, up roughly 40 percent year-on-year, and pushed the EBITDA margin to 12.7 percent from 11.7 percent a year earlier.

TVS’s profit before tax rose in tandem to ₹1,226 crore, reflecting both top-line expansion and better cost absorption across factories and distribution channels.

Management highlighted that a favorable product mix, improved realizations and disciplined cost control helped underpin the margin recovery in the quarter. 

Analysts noted that the company’s emphasis on higher-margin models and exports contributed to the outsized profit growth relative to revenue. 

The company reported strong traction in overseas markets, with international two-wheeler volumes up 31 percent, reinforcing TVS’s strategy of balancing domestic demand with export opportunities. 

The board also pointed to expanding orderbooks in key markets and incremental gains from new model launches during the year.

Electric vehicle performance remained an area of focus. EV volumes grew by a single-digit percentage in the quarter despite constraints around magnet availability that limited production ramp-up, the company said. 

Management reiterated ongoing investments in EV technology and said it remained committed to scaling its electric portfolio as supply-chain bottlenecks ease. 

Analysts expect EVs to become a progressively larger part of TVS’s revenue mix over the next several years, although margins in the segment will depend on component cost normalization. 

Looking ahead, the company cautioned that macroeconomic risks such as commodity price swings and currency volatility could affect near-term profitability, even as it pursues market share gains and product upgrades. 

Management said it would continue to focus on converting order momentum into sustainable earnings through product differentiation, cost discipline and geographic diversification.

Investors and industry watchers will now be watching the company’s three-to-five quarter trajectory for evidence that the mix shift toward higher-value models and the EV transition are translating into durable margin improvement and return-on-capital gains.

Also Read: Adani Green Energy Reports 39% YoY Surge in Energy Sales