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TVSSCS - TVS Supply

📊 NSE: TVSSCS 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 14:36

📢 Recent Corporate Announcements

TVS Supply Chain Solutions Receives ₹8.98 Crore Tax Demand; Company to Appeal

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 24 Apr 2026, 03:58 PM

TVS Supply Chain Solutions Limited (TVSSCS) has received a tax demand order of ₹8.98 crores from the Income Tax Assessment Authority. The demand, received on April 23, 2026, relates to disallowed expenses and variations in transfer pricing adjustments under Section 143(3) and Section 144C(3). The company has stated its intention to file an appeal against this order before the appropriate authorities. Management currently expects no material impact on the company's financial or operational activities due to this demand.

Tax demand of ₹8.98 crores issued by the Income Tax Assessment Authority.
Order involves disallowed expenses and transfer pricing adjustment variations.
Company to file an appeal and response within the prescribed timelines.
Management confirms the demand will not have a material impact on financials or operations.

💡 Investors should view this as a routine tax dispute; the demand amount is relatively small and unlikely to affect the company's valuation. No immediate action is necessary.

TVS Supply Chain Solutions Settles Dispute with ZTE Telecom for INR 1.62 Crore

🟢 POSITIVE ⭐ 3/10

LEGAL 📅 16 Apr 2026, 04:08 PM

TVS Supply Chain Solutions (TVSSCS) has resolved its pending litigation with ZTE Telecom India Pvt. Ltd. regarding unpaid operational dues for services rendered. The settlement was reached during proceedings at the National Company Law Appellate Tribunal (NCLAT). As part of the agreement, ZTE Telecom has paid INR 1.62 Crores to TVSSCS, leading to the withdrawal of the appeal. While the recovery is positive, the company has clarified that the settlement amount is not material to its overall financial position.

Settlement reached with ZTE Telecom India Pvt. Ltd. over operational dues for services rendered.
TVSSCS received a total payment of INR 1.62 Crores as part of the settlement agreement.
The company has officially withdrawn its appeal filed before the NCLAT, New Delhi.
Management states the financial impact of this settlement is not material to the company's balance sheet.

💡 This is a routine legal resolution involving a minor recovery of dues. Investors should treat this as a positive cleanup of receivables but focus on larger operational metrics for long-term valuation.

TVS Supply Chain Solutions to Host Facility Visit and Investor Meeting on April 17, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Apr 2026, 08:41 PM

TVS Supply Chain Solutions Limited (TVSSCS) has announced a facility visit followed by a meeting with analysts and institutional investors scheduled for April 17, 2026. The event is hosted by Churchgate Partners and will be conducted in a physical format in Chennai. The company has explicitly stated that discussions will be based on publicly available information and no unpublished price sensitive information (UPSI) will be shared. This routine disclosure is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Facility visit and investor meeting scheduled for Friday, April 17, 2026.
Interaction hosted by Churchgate Partners for institutional investors and analysts.
The meeting will be held physically at the company's Chennai facilities.
Company confirmed that no unpublished price sensitive information (UPSI) will be discussed.

💡 No immediate action is required as this is a routine investor relations event. Investors may monitor for any post-meeting presentations or transcripts that could provide qualitative insights into the company's operational environment.

TVS Supply Chain Solutions Submits Quarterly Compliance Certificate Under SEBI Regulation 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Apr 2026, 04:20 PM

TVS Supply Chain Solutions Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended March 31, 2026. The certificate, provided by Registrar MUFG Intime India Private Limited, confirms that all dematerialization requests were processed within prescribed timelines. It further verifies that security certificates received were mutilated and cancelled after verification, and the names of depositories were updated in the register of members. This is a standard administrative filing ensuring the company's adherence to shareholding record-keeping norms.

Compliance certificate submitted for the quarter ended March 31, 2026.
Registrar MUFG Intime India Private Limited confirmed processing of all dematerialization requests.
Securities comprised in the certificates are confirmed to be listed on the stock exchanges.
Register of members updated with depository names within prescribed SEBI timelines.

💡 No action is required from investors as this is a routine regulatory filing confirming standard operational compliance regarding share dematerialization.

TVS Supply Chain Subsidiary Receives ₹6.71 Crore Income Tax Demand

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 01 Apr 2026, 05:32 PM

TVS Supply Chain Solutions Limited's wholly-owned subsidiary, TVS SCS Global Freight Solutions Ltd, has received a tax demand of ₹6.71 Crores from the Income Tax Assessment Authority. The order, issued under Section 143(3), pertains to expenses recorded by the subsidiary that were allegedly not reported as income by its suppliers. The company has stated its intention to file an appeal against this order within the prescribed timelines. Management has clarified that this demand is not expected to have a material impact on the company's financial or operational activities.

Tax demand of ₹6.71 Crores issued against subsidiary TVS SCS Global Freight Solutions Ltd
Order issued under Section 143(3) of the Income Tax Act regarding supplier income reporting
Company to file an appeal before the appropriate authorities within prescribed timelines
Management confirms no material impact expected on overall financial or operational performance

💡 Investors should treat this as a routine tax matter as the demand amount is relatively small compared to the company's scale. No immediate portfolio action is required, but monitor for any further escalations in tax litigation.

TVS Supply Chain Solutions Receives Rs 57.88 Lakh Tax Demand from MP Authorities

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 31 Mar 2026, 09:10 PM

TVS Supply Chain Solutions Limited (TVSSCS) has received a tax order from the Assistant Commissioner of State Tax, Madhya Pradesh, for the financial year 2019-20. The order alleges a short payment of outward liability totaling Rs. 57,88,108. The company received the formal communication on March 30, 2026, and has stated its intention to file an appeal against the order. Management believes this demand will not have a material impact on the company's financial or operational activities.

Tax demand of Rs. 57,88,108 issued by the Assistant Commissioner of State Tax, Madhya Pradesh
Order relates to alleged short payment of outward liability for FY 2019-20
Company received the official order on March 30, 2026
TVSSCS plans to file an appropriate response and appeal the order within prescribed timelines
Management confirms no expected material impact on financials or operations

💡 Investors should treat this as a routine regulatory matter given the relatively small amount involved. No immediate action is required as the company is contesting the demand.

TVS Supply Chain Solutions to Close Trading Window from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Mar 2026, 04:17 PM

TVS Supply Chain Solutions Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's upcoming financial disclosures. The window will remain shut until 48 hours after the audited financial results for the quarter and financial year ending March 31, 2026, are made public. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.

Trading window closure begins on April 1, 2026, for all Designated Persons.
The closure is related to the upcoming audited financial results for Q4 and FY ending March 31, 2026.
Trading will remain restricted until 48 hours after the financial results are officially declared.
The announcement follows the SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should look forward to the upcoming Q4 and FY26 earnings release for performance insights.

TVS Supply Chain to Infuse INR 213.44 Mn in US Subsidiary for Working Capital

🟡 NEUTRAL ⭐ 6/10

EXPANSION 📅 26 Mar 2026, 04:07 PM

TVS Supply Chain Solutions (TVS SCS) has announced an additional capital infusion of INR 213.44 million into its wholly-owned US subsidiary, TVS Logistics Investment Inc. The investment is intended to support the subsidiary's working capital and cash flow requirements. The US entity has shown strong growth, with its turnover increasing from INR 7,061.93 million in FY23 to INR 10,298.94 million in FY25. This move ensures the subsidiary remains well-capitalized to handle its expanding storage and freight transportation operations in the United States.

Capital infusion of INR 213.44 million into wholly-owned subsidiary TVS Logistics Investment Inc. USA
Subsidiary turnover grew significantly from INR 7,961.77 Mn in FY24 to INR 10,298.94 Mn in FY25
Investment structured as a cash consideration at a price of USD 165 per share
Funds specifically earmarked for working capital and cash flow management
Transaction scheduled for completion by March 31, 2026

💡 Investors should view this as a routine capital allocation to support a growing international subsidiary. Monitor the subsidiary's future margins to ensure that the revenue growth is translating into bottom-line performance.

TVS SCS Sets Up 40,000 Sq. Ft. FTWZ Warehouse for Caterpillar in Chennai

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 10 Mar 2026, 03:36 PM

TVS Supply Chain Solutions (TVS SCS) has expanded its partnership with Caterpillar by establishing a new 40,000 sq. ft. warehouse in a Free Trade & Warehousing Zone (FTWZ) near Chennai. The facility features 4,000 pallet positions and is designed to streamline Caterpillar's global sourcing and manufacturing operations. Strategically located near ports handling 20% of India's container traffic, this move enhances TVS SCS's service capabilities for Fortune 500 clients. This development strengthens a five-year relationship and supports the 'Make in India for the World' initiative.

New 40,000 sq. ft. facility established in Mannur FTWZ near Chennai to support multi-country sourcing.
The warehouse provides approximately 4,000 pallet positions to optimize lead times and reduce landed costs.
Strategic location offers connectivity to ports handling nearly 20% of India's total container traffic.
Strengthens a 5-year partnership with Caterpillar, adding to existing operations in Hosur and in-plant warehousing.
Positions TVS SCS as a key enabler for global supply chain resilience amid trade volatility.

💡 Investors should monitor the company's ability to scale high-margin FTWZ operations and secure similar expansions with its other 90+ Fortune Global 500 clients. The deepening relationship with Caterpillar signals strong client retention and service execution capabilities.

TVS SCS Q3 FY26 Adj. EBITDA Surges 31.2% to ₹199 Cr; Announces ₹88 Cr S&S3PL Acquisition

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 23 Feb 2026, 04:47 PM

TVS Supply Chain Solutions (TVSSCS) delivered a strong Q3 FY26 performance with revenue increasing 11.1% YoY to ₹2,716 Cr. Adjusted EBITDA saw a significant jump of 31.2% to ₹199 Cr, reflecting margin expansion to 7.3% from 6.2% YoY. The company also announced the acquisition of Swamy & Sons 3PL for ₹88 Cr, which is expected to be EBITDA and RoCE accretive while strengthening its FMCG footprint. Management highlighted a record business development pipeline of ₹6,300 Cr, supporting a positive outlook for FY26.

Q3 FY26 Revenue rose 11.1% YoY to ₹2,716 Cr, while 9M FY26 Revenue stood at ₹7,971 Cr.
Adjusted EBITDA for Q3 FY26 grew 31.2% YoY to ₹199 Cr; Adjusted PBT turned positive at ₹24 Cr.
Acquisition of S&S3PL for ₹88 Cr adds 4 million sq. ft. of warehouse space across 116 locations.
New Business Development (BD) pipeline reached a record ₹6,300 Cr in Q3 FY26.
ISCS segment continues to drive growth, contributing 75% of 9M FY26 revenue.

💡 The stock shows strong operational recovery with significant margin expansion and a turnaround in PBT. Investors should monitor the integration of the S&S3PL acquisition and the conversion of the large BD pipeline into realized revenue.

TVS Supply Chain Solutions to Hold Non-Deal Roadshow in Mumbai on February 24, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Feb 2026, 02:43 PM

TVS Supply Chain Solutions Limited (TVSSCS) has announced a Non-Deal Roadshow scheduled for February 24, 2026, in Mumbai. The event, hosted by Churchgate Partners, will commence at 10:00 AM and feature 1x1 or group meetings in physical mode. The company stated that discussions will be based strictly on publicly available information, ensuring no unpublished price sensitive information is shared. This routine disclosure highlights management's ongoing engagement with the institutional investor community.

Non-Deal Roadshow scheduled for February 24, 2026, starting from 10:00 AM in Mumbai.
Event hosted by Churchgate Partners involving 1x1 and group physical meetings.
Compliance with SEBI Regulation 30 (6) regarding investor interactions.
Company confirms no unpublished price sensitive information (UPSI) will be discussed.

💡 Investors should monitor for any subsequent investor presentations or transcripts released after the roadshow for insights into the company's strategic direction. No immediate portfolio changes are necessary based on this routine meeting schedule.

TVSSCS Q3 FY26: PBT Turns Positive at ₹25 Cr; Adjusted EBITDA Jumps 31.2% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Feb 2026, 12:00 PM

TVS Supply Chain Solutions (TVSSCS) reported a strong Q3 FY26 with consolidated revenue growing 11.1% YoY to ₹2,715.8 crores. The company achieved a significant turnaround, posting a Profit Before Tax (PBT) of ₹25 crores compared to a loss of ₹15 crores in the same period last year. Adjusted EBITDA margins expanded by 110 basis points YoY to 7.3%, driven by the 'Project One' cost-efficiency program in Europe and robust 11.8% growth in India. The company also announced a strategic acquisition of Swamy & Sons 3PL to bolster its FMCG supply chain presence in India.

Consolidated revenue rose 11.1% YoY to ₹2,715.8 crores, with India geography growing at 11.8% YoY.
Adjusted EBITDA surged 31.2% YoY to approximately ₹198 crores, with margins improving to 7.3%.
PBT turned positive at ₹25 crores for Q3 FY26, a sharp recovery from a ₹15 crore loss in Q3 FY25.
Project One in UK/Europe is on track to deliver annualized savings of ₹110-120 crores.
Acquired Swamy & Sons 3PL to strengthen capabilities in the Indian FMCG and consumption-led supply chain sectors.

💡 Investors should view the margin expansion and return to profitability as a sign of successful operational execution and cost-restructuring. The focus on high-growth domestic sectors like FMCG through acquisitions further strengthens the long-term outlook.

TVS SCS Partners with ALA Group to Enter $28bn Indian Aerospace & Defence Market

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 16 Feb 2026, 03:46 PM

TVS Supply Chain Solutions (TVS SCS) has signed an MoU with Italy-based ALA Group to target India's $28 billion aerospace and defence supply chain market. The partnership aims to leverage TVS SCS's existing $140 million revenue base in the UK defence sector and ALA Group's $345 million global expertise to provide end-to-end logistics for production and aftermarket lifecycles. This strategic move focuses on high-margin opportunities including defence offset programs and MRO services. The collaboration positions TVS SCS to benefit from India's increasing indigenization and global supply chain realignment in the defence sector.

MoU with ALA Group to target India's $28 billion Aerospace and Defence supply chain market.
TVS SCS currently generates approximately $140 million in annual revenue from A&D and utilities, primarily in the UK.
ALA Group reported $345 million in 2024 revenue and manages over 200,000 SKUs for global OEMs.
TVS SCS manages 250,000 NATO Stock Numbers and fulfills 2.5 million defence demands annually.
Partnership covers production support, spare parts distribution, and defence-grade logistics engineering.

💡 Investors should monitor this partnership as a significant long-term growth catalyst that diversifies TVS SCS into high-margin, regulated sectors. Watch for specific contract wins or revenue contributions from the Indian defence offset programs as a result of this MoU.

TVS Supply Chain Solutions Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Feb 2026, 12:24 PM

TVS Supply Chain Solutions Limited has informed the exchanges that the audio recording of its earnings conference call for Q3 FY26 is now available. The call, which took place on February 11, 2026, discussed the financial results for the quarter and the nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations to ensure all investors have access to management commentary. The recording can be accessed through the company's official investor relations website.

Earnings conference call for Q3 FY26 held on February 11, 2026
Covers financial performance for the quarter and nine months ended December 31, 2025
Audio recording made available on the company website per SEBI Regulation 30
Link provided for investor access: https://www.tvsscs.com/investor-relations/

💡 Investors should listen to the recording to gain insights into management's outlook on the logistics sector and specific growth strategies. No immediate action is required as this is a routine compliance filing.

TVSSCS Q3 FY26 Net Profit at ₹25 Cr; Announces ₹88 Cr Acquisition of Swamy & Sons 3PL

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 10 Feb 2026, 07:15 PM

TVS Supply Chain Solutions reported a strong Q3 FY26 with revenue growing 11.1% YoY to ₹2,716 crore and a turnaround to a net profit of ₹25 crore from a loss of ₹15 crore last year. The company also announced the strategic acquisition of Swamy & Sons 3PL for ₹88 crore to strengthen its FMCG capabilities in India, funded entirely through internal accruals. Adjusted EBITDA margins expanded by 110 bps to 7.3%, driven by operational efficiencies in India and a profitability inflection in the European business. The business pipeline remains robust at ₹6,300 crore, providing strong visibility for future growth.

Q3 FY26 Revenue grew 11.1% YoY to ₹2,716 Cr, with Adjusted EBITDA rising 31.2% to ₹199 Cr.
Turned profitable with a net profit of ₹25 Cr in Q3 FY26 compared to a loss of ₹15 Cr in Q3 FY25.
Acquired 100% of Swamy & Sons 3PL for ₹88 Cr (4.7x FY25 EBITDA) to boost FMCG supply chain presence.
New business wins for 9M FY26 reached ₹683 Cr with a total BD pipeline of ₹6,300 Cr.
ISCS segment margins expanded to 9.2% while GFS revenue saw a sharp recovery of 19.3% YoY.

💡 Investors should take note of the significant margin expansion and the successful turnaround to profitability, which validates the company's cost-optimization strategy. The accretive acquisition of Swamy & Sons strengthens the high-margin India business, making the stock attractive for long-term logistics sector exposure.

View All TVSSCS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 6% YoY to INR 2,662.6 Cr in Q2 FY26. The Integrated Supply Chain Solutions (ISCS) segment grew 8.4% YoY to INR 1,993.0 Cr, while the Global Forwarding Solutions (GFS) segment reported revenue of INR 669.6 Cr, showing a 9.9% sequential growth despite YoY pressure from freight rates.

Geographic Revenue Split

The company operates across four continents: Asia, Europe, North America, and Oceania. In FY25, ISCS revenue was INR 5,496.54 Cr (55% share) and Network Solutions was INR 4,499.18 Cr (45% share). Europe was a significant driver for ISCS growth in Q2 FY26 due to the recovery of the ISCS Europe business and the turnaround of the IFM business.

Profitability Margins

Profit Before Tax (PBT) margin for Q2 FY26 improved to 0.9% from 0.7% YoY. The company has a medium-term target to reach a 4% PBT margin by Q4 FY27. PAT for Q2 FY26 was INR 16.31 Cr, a 54% increase from INR 10.61 Cr in Q2 FY25, driven by operational discipline and cost-out programs.

EBITDA Margin

Consolidated Adjusted EBITDA margin stood at 6.7% (INR 178.4 Cr) in Q2 FY26. ISCS EBITDA margins expanded to 8.7% from 8.2% YoY, a 50 bps improvement. GFS adjusted EBITDA margin declined to 2.2% from 4.2% YoY due to persistent pricing pressure in freight rates.

Capital Expenditure

The Board approved a further investment of up to INR 100 Cr in FIT 3PL Warehousing Private Limited, a wholly-owned subsidiary, to facilitate business expansion. Historical ROCE was 4.7% in FY25 compared to 4.8% in FY24.

Credit Rating & Borrowing

Not disclosed in available documents; however, the company manages working capital through financing and recently had 5,000,000 shares pledged in favor of Catalyst Trusteeship Limited as security for debenture holders on December 8, 2025.

⚙️ Operational Drivers

Raw Materials

Material related costs (representing 16.7% of Q2 FY26 revenue at INR 446.3 Cr), Freight and handling expenses (27.3% of revenue at INR 727.3 Cr), and Employee costs (24.2% of revenue at INR 644.4 Cr).

Import Sources

Sourced globally across Asia, Europe, North America, and Oceania to support 3PL and 4PL bespoke solutions.

Key Suppliers

Not specifically named; however, the company relies on a network of sub-contractors, with sub-contracting expenses totaling INR 369.4 Cr in Q2 FY26.

Capacity Expansion

Expansion is focused on warehousing through FIT 3PL Warehousing (Turnover INR 133.18 Cr as of March 2025) and the 'Project One' initiative in the UK and Europe to drive operational synergies.

Raw Material Costs

Material costs declined sequentially from INR 487.4 Cr in Q1 FY26 to INR 446.3 Cr in Q2 FY26 (an 8.4% decrease) due to changes in the business mix and lower volumes in specific segments.

Manufacturing Efficiency

The company follows an asset-light model; efficiency is measured by the turnaround of the IFM business and the integration of ISCS Europe, which drove margin recovery in H2 FY25.

Logistics & Distribution

Freight, clearing, and forwarding expenses increased to INR 727.3 Cr in Q2 FY26 from INR 680.3 Cr in Q1 FY26, a 6.9% sequential increase aligned with GFS volume growth.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth will be achieved through a mid-teen revenue target driven by an active business pipeline of INR 6,200 Cr, the 'Project One' cost-savings program (INR 100-120 Cr annualized), and expanding 3PL/4PL services in North America and Europe.

Products & Services

Bespoke 3PL (Third-Party Logistics) solutions, 4PL (Fourth-Party Logistics) services, warehousing, freight forwarding, and integrated supply chain solutions.

Brand Portfolio

TVS Supply Chain Solutions (TVS SCS), FIT 3PL Warehousing.

New Products/Services

New business wins contributed 8.1% of Q2 FY25 revenue; focus is on converting the INR 6,200 Cr pipeline into high-quality growth.

Market Expansion

Targeting mid-teen growth across Asia, Europe, North America, and Oceania with a focus on scaling the ISCS segment which outperformed regional GDP growth at a 13% CAGR (FY21-FY25).

Market Share & Ranking

ISCS business has grown at a 13.0% CAGR between FY21 and FY25, outperforming the GDP growth in operating markets.

Strategic Alliances

Strategic partnership with TVS ILP (share of profit included in adjusted PBT calculations).

🌍 External Factors

Industry Trends

The industry is shifting toward tech-led, asset-light 3PL/4PL providers. TVS SCS is positioning itself to capture this by targeting an 8-11% PBT margin to match global industry best-in-class peers.

Competitive Landscape

Competes with global logistics peers; focuses on 'right-shoring' and 'right-sizing' to maintain a competitive cost structure.

Competitive Moat

Moat is built on deep domain expertise, a global network, and proprietary technology. Sustainability is driven by long-term integrated contracts in the ISCS segment (55% of revenue).

Macro Economic Sensitivity

Highly sensitive to global trade volumes and freight rates; GFS margins are currently suppressed by macro headwinds and pricing pressure.

Consumer Behavior

Shift toward outsourced supply chain management (3PL/4PL) by industrial and automotive sectors (which represent 16% and 28% of ISCS revenue respectively).

Geopolitical Risks

Operations across four continents expose the company to international trade regulations, taxation changes, and economic conditions affecting global supply and demand.

⚖️ Regulatory & Governance

Industry Regulations

Complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. Operations are subject to global trade and customs regulations across four continents.

Environmental Compliance

The company has a Risk Management Committee (RMC) that monitors sustainability and ESG-related risks.

Legal Contingencies

Not disclosed in available documents; however, the company maintains an internal audit function to ensure compliance with internal guidelines and statutory requirements.

⚠️ Risk Analysis

Key Uncertainties

Volatility in global freight rates (impacted GFS margins by 200 bps YoY) and the ability to sustain the 13% CAGR in the ISCS segment amidst global economic shifts.