3 Two Wheelers and Three Wheelers Maker, Exhaust Systems Maker and Specialty Chemicals Maker Stocks With a Strong Future Roadmap: TVS Motor Company, Sharda Motor Industries and Vinati Organics
- November 12, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
TVS Motor Company, Sharda Motor Industries and Vinati Organics: ROE of 14.0% to 31.6% and FY22 to FY26 revenue CAGR of 8.0% to 23.1%. Prices as of 11 Nov 2026.
Quick Answer
The three two wheeler, exhaust and chemical stocks to watch are TVS Motor Company, Sharda Motor Industries and Vinati Organics. Their return on equity ranges from 14.0% to 31.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.0% to 23.1%. TVS Motor Company leads on both return on equity at 31.6% and revenue growth at 23.1% a year. Prices are based on the 11 November 2026 close, and this article is educational, not investment advice.
Two wheeler, exhaust and chemical stocks give investors a way to track businesses that sit close to everyday demand in India. TVS Motor Company, Sharda Motor Industries and Vinati Organics cover a two wheelers and three wheelers maker, an exhaust systems maker and a specialty chemicals maker.
This list covers three two wheeler, exhaust and chemical stocks with complete current figures: TVS Motor Company, Sharda Motor Industries and Vinati Organics. Every figure comes from the latest reported financials and the 11 November 2026 market close. Companies without complete current figures were left out.
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What Are Two Wheeler, Exhaust and Chemical Stocks?
Two wheeler, exhaust and chemical stocks are listed companies that build motorcycles, scooters, electric two wheelers and three wheelers, produce exhaust and emission control systems for vehicles, and make specialty chemicals for polymers, personal care and industry. Their earnings depend on vehicle sales and chemical demand.
Two Wheeler, Exhaust and Chemical Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| TVS Motor Company | 4,560 | 193,408 | 53.7 | 24.1 | 31.6 | 3.43 |
| Sharda Motor Industries | 903.85 | 4,995 | 15.0 | 36.9 | 26.3 | 0.04 |
| Vinati Organics | 1,106.1 | 11,582 | 25.8 | 35.1 | 14.0 | 0.00 |
On valuation, Sharda Motor Industries and Vinati Organics trade at a P/E below the industry P/E, while TVS Motor Company trades above it, which reflects the growth the market already expects. Readers comparing two wheeler, exhaust and chemical stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in two wheeler, exhaust and chemical stocks can use the coming numbers to test whether growth is holding.
Why Do Two Wheeler, Exhaust and Chemical Stocks Have a Strong Roadmap in India?
Two wheeler, exhaust and chemical stocks have a strong roadmap in India because growing mobility needs, tighter emission standards and rising use of specialty chemicals keep widening the market for these companies.
- Two wheelers. Families rely on motorcycles and scooters.
- Exhaust systems. Emission rules need advanced systems.
- Specialty chemicals. Industry uses advanced chemical inputs.
Why TVS Motor Company Features Among These Two Wheeler, Exhaust and Chemical Stocks
Among the two wheeler, exhaust and chemical stocks on this list, TVS Motor Company is a Chennai-based maker of motorcycles, scooters, mopeds, electric two-wheelers and three-wheelers, sold across India and in many international markets.
In the June 2026 quarter, revenue grew 34.3% year on year to Rs 16,454 crore, while net profit rose 64.5% to Rs 1,058 crore. Revenue rose from Rs 24,388 crore in FY22 to Rs 56,092 crore in FY26, a compound annual growth rate of 23.1%.
Net profit grew from Rs 731 crore in FY22 to Rs 3,186 crore in FY26, which works out to a compound annual growth rate of 44.5%. The company has a return on equity of 31.6%, a debt to equity ratio of 3.43 and a market capitalisation of Rs 193,408 crore. The stock trades at a P/E of 53.7, above the industry P/E of 24.1.
Roadmap: The company is widening its premium motorcycle and electric scooter range and growing exports to Africa, Latin America and Asia. A wide dealer and service network supports repeat demand across urban and rural markets.
What to watch: Follow monthly volumes, electric vehicle launches and export growth.
Why Sharda Motor Industries Features Among These Two Wheeler, Exhaust and Chemical Stocks
Among the motorcycle, silencer and fine chemical shares on this list, Sharda Motor Industries makes exhaust systems and catalytic converters, with large passenger vehicle makers among its main customers.
The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9.
Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore.
Roadmap: Tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
What to watch: Follow volume trends at its key customers and precious metal price movements.
Why Vinati Organics Features Among These Two Wheeler, Exhaust and Chemical Stocks
Among the three companies on this list, Vinati Organics is a specialty chemicals company and the world’s leading maker of isobutylene derivatives such as IBB and ATBS, which are used in pharma, polymers and oilfield applications.
Revenue rose from Rs 1,676 crore in FY22 to Rs 2,280 crore in FY26, a compound annual growth rate of 8.0%. Net profit grew from Rs 347 crore in FY22 to Rs 444 crore in FY26, which works out to a compound annual growth rate of 6.4%.
In the June 2026 quarter, revenue grew 28.3% year on year to Rs 705 crore, while net profit rose 4.5% to Rs 109 crore. The company has a return on equity of 14.0%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 11,582 crore. The stock trades at a P/E of 25.8, below the industry P/E of 35.1.
Roadmap: The company holds a leading global position in its core products, and has been developing new chemistries that serve several industries. A strong balance sheet with no debt supports its capacity expansion programme.
What to watch: Monitor demand for ATBS and the ramp-up of new products and capacity.
TVS Motor Company vs Sharda Motor Industries vs Vinati Organics on Key Financials
The table below sets the three two wheeler, exhaust and chemical stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| TVS Motor Company | 24,388 | 56,092 | 23.1% | 3,186 | 5.7% |
| Sharda Motor Industries | 2,285 | 3,483 | 11.1% | 345 | 9.9% |
| Vinati Organics | 1,676 | 2,280 | 8.0% | 444 | 19.5% |
TVS Motor Company posts the highest return on equity in this group at 31.6%. TVS Motor Company combines the largest FY26 revenue at Rs 56,092 crore with the fastest revenue growth, a 23.1% compound annual rate. A useful habit with two wheeler, exhaust and chemical stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| TVS Motor Company | 12,250 | 16,454 | 34.3% |
| Sharda Motor Industries | 779 | 1,038 | 33.2% |
| Vinati Organics | 549 | 705 | 28.3% |
Key Risks to Check Before Investing in Two Wheeler, Exhaust and Chemical Stocks
Every theme carries risks that deserve a check before any decision. For these two wheeler, exhaust and chemical stocks, the main points are: Long-term motorcycle, silencer and fine chemical shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Production cycles. Vehicle output can vary with demand.
- Input costs. Metal and material prices can move margins.
- Raw material and energy costs. Input prices can move margins in chemicals.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter two wheeler, exhaust and chemical stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Two Wheeler, Exhaust and Chemical Stocks
Two wheeler, exhaust and chemical stocks work best when investors track growth, valuation and return on equity side by side. TVS Motor Company, Sharda Motor Industries and Vinati Organics each have a clear plan to grow. Based on the 11 November 2026 close, TVS Motor Company trades at Rs 4,560, Sharda Motor Industries at Rs 903.85 and Vinati Organics at Rs 1,106.1. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these two wheeler, exhaust and chemical stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are two wheeler, exhaust and chemical stocks?
Ans. Two wheeler, exhaust and chemical stocks are listed companies that build motorcycles, scooters, electric two wheelers and three wheelers, produce exhaust and emission control systems for vehicles, and make specialty chemicals for polymers, personal care and industry. Their earnings depend on vehicle sales and chemical demand. This list looks at three of them, TVS Motor Company, Sharda Motor Industries and Vinati Organics, using reported FY22 to FY26 financials and the 11 November 2026 closing prices.
Which two wheeler, exhaust and chemical stocks are covered in this list?
Ans. This list covers TVS Motor Company, Sharda Motor Industries and Vinati Organics. Based on the 11 November 2026 close, TVS Motor Company traded at Rs 4,560, Sharda Motor Industries at Rs 903.85 and Vinati Organics at Rs 1,106.1. Their return on equity ranges from 14.0% to 31.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.0% to 23.1%.
Why do two wheeler, exhaust and chemical stocks have a strong future roadmap in India?
Ans. Two wheeler, exhaust and chemical stocks have a strong roadmap in India because growing mobility needs, tighter emission standards and rising use of specialty chemicals keep widening the market for these companies. The main drivers are as follows. Two wheelers. Families rely on motorcycles and scooters. Exhaust systems. Emission rules need advanced systems. Specialty chemicals. Industry uses advanced chemical inputs. Together these factors give the companies on this list a visible path for growth over the coming years.
How has TVS Motor Company performed financially?
Ans. Revenue rose from Rs 24,388 crore in FY22 to Rs 56,092 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 731 crore in FY22 to Rs 3,186 crore in FY26, which works out to a compound annual growth rate of 44.5%. In the June 2026 quarter, revenue grew 34.3% year on year to Rs 16,454 crore, while net profit rose 64.5% to Rs 1,058 crore. The company has a return on equity of 31.6%, a debt to equity ratio of 3.43 and a market capitalisation of Rs 193,408 crore. The stock trades at a P/E of 53.7, above the industry P/E of 24.1. Looking ahead, the company is widening its premium motorcycle and electric scooter range and growing exports to Africa, Latin America and Asia. A wide dealer and service network supports repeat demand across urban and rural markets.
How has Sharda Motor Industries performed financially?
Ans. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9. Looking ahead, tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
How has Vinati Organics performed financially?
Ans. Revenue rose from Rs 1,676 crore in FY22 to Rs 2,280 crore in FY26, a compound annual growth rate of 8.0%. Net profit grew from Rs 347 crore in FY22 to Rs 444 crore in FY26, which works out to a compound annual growth rate of 6.4%. In the June 2026 quarter, revenue grew 28.3% year on year to Rs 705 crore, while net profit rose 4.5% to Rs 109 crore. The company has a return on equity of 14.0%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 11,582 crore. The stock trades at a P/E of 25.8, below the industry P/E of 35.1. Looking ahead, the company holds a leading global position in its core products, and has been developing new chemistries that serve several industries. A strong balance sheet with no debt supports its capacity expansion programme.
What risks should investors check before buying two wheeler, exhaust and chemical stocks?
Ans. Investors should check a few risks before buying two wheeler, exhaust and chemical stocks. Production cycles. Vehicle output can vary with demand. Input costs. Metal and material prices can move margins. Raw material and energy costs. Input prices can move margins in chemicals. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of two wheeler, exhaust and chemical stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 11 November 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
