TVS Srichakra Ltd, one of the largest manufacturers and exporters of two- and three- wheeler tyres, is looking to record double-digit growth
23 Jan 2015 | 17235 Views | By Kiran Bajad
TVS Srichakra Ltd, one of the largest manufacturers and exporters of two- and three- wheeler tyres, is looking to record double-digit growth in the current financial year and cross the Rs 1,900 crore turnover mark.
The company, which manufactures nearly two million tyres a month, posted revenues of Rs ...
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TVS Srichakra Ltd, one of the largest manufacturers and exporters of two- and three- wheeler tyres, is looking to record double-digit growth in the current financial year and cross the Rs 1,900 crore turnover mark.
The company, which manufactures nearly two million tyres a month, posted revenues of Rs 1,700 crore revenue in 2013-14 on the back of good growth in the Indian two- wheeler and aftermarket segment.
Unveiling the company’s new logo in Chennai today, P Vijayaraghavan, director, TVS Srichakra, said: “TVS Tyres is poised for bigger growth as the two-wheeler OEM segments is witnessing healthy double-digit growth in India. Being the largest suppliers to OEMs, we are doing extremely well and similarly our aftermarket share has achieved growth this year.“
“At present, we are the leader in tyre supplies to two-wheeler manufacturers in India and the No. 3 in the aftermarket segment,” he added.
In a new development, the company plans to enter the motorcycle radial tyre segment with the introduction of a new tyre. Without offering any timeline, Vijayaraghavan said that the company is working on motorcycle radials and will launch them in India soon. The two-wheeler radial market is at a nascent stage in India and few tyremakers produce them.
Commenting on the company’s new logo, Vijayaraghavan said: “While creating a new brand identity, we had to make sure that we integrate a feeling of dynamism and youthfulness to convey that our products can overcome any challenge in the journey.“
TVS Srichakra, which has a network of more than 3,000 distributors, dealers and mechanics, also makes off-road tyres. Its exports go out to over 80 countries. The company has two plants: one in Madurai, Tamil Nadu and the other at Pantanagar in Uttarakhand.