TVS Srichakra Ltd Share Price

History of TVS Srichakra Ltd

TVS Srichakra Limited is a part of USD 8.5 billion TVS Group and one of the leading auto ancillary groups. Incorporated in June, 1982, Srichakra Tyres (STL) was promoted by R Naresh, T V Sundram Iyengar & Sons Pvt. Ltd. and Sundaram Industries Pvt. Ltd. The Company was renamed as TVS Srichakra Tyres Limited in October, 1997. The Company is engaged in the business of two-wheeler, three-wheeler and other industrial tyre manufacturing. The Company manufactures tyres in two manufacturing sites - one in Tamil Nadu and second in Uttarakhand. In Sep.'94, the company came out with a rights issue to meet the cost of expanding the installed capacity from 15 lac to 24 lac tyres/tubes and to meet the long-term working capital requirements, at a project cost of Rs 3.60 cr. Some of the major clients ... of STL are Hero Honda, Bajaj Auto, TVS Suzuki, etc. The company has a joint venture with DuPont and Cherry. STL exports to the US and the European market. In 1995-96, the company expanded its production capacity to 33 lacs p.a. Technology for modernisation of certain sections of its plant is imported from Schiesser Rubber Technology, Switzerland. During 1997-98, the company has expanded its plant capacity of Automotive Tyres to 36 lakhs nos per annum and Tubes to 33 lakhs no per annum. This was funded through Long Term Debt and Internal Accruals. Nitya Sarvamangala Trading and Holding Ltd and TVS Srichakra Holdings Ltd are its subsidiaries. The Company launched a new premium range of moped tyre, under the name 'MEGA STAR' during the year 1999-2000. In 2000-01 company has expanded its plant capacity of the tyre division from 53 lakh nos to 55 lakh nos of tyres per annum. The company has also invested Rs.3.17 crores for this expansion and modernization. It is developing new tyres for the export market. During 2002-03 the 2 subsidiary companies viz Nitya Sarvamangala Trading & Holding Limited and TVS Srichakra Holdings Limited was amalgamated with the company with prior approval from the board as well as from the Hon'ble High Court of Chennai. It has also increased the tyre capacity and tube capacity to 73.62 lakh and 65.52 lakh respectively. The above expansion as well as modernization of its plant was done at an outlay of Rs.525 lakhs. The company has invested in modeling software, machine center and in other related infrastructure for developing proven products, in the least possible development cycle time. The Company is accredited with ISO 9001 and ISO 14001 and won TPM Excellence award and practicing Six Sigma and Lean Manufacturing Techniques. During FY 2015, the Company entered new markets for the sale of off - highway tyres and expanded its two-wheeler tyre distribution channels. In order to improve the visibility of the brand, it participated in various international shows. Besides, it continues investments in brand building and thus provides two wheeler conveyance solutions in the industry while maintaining low cost of manufacturing. During FY 2016, the company sold its investments in TVS Europe Distribution Limited due to strategic reasons. It has taken initiatives for brand building to increase the aftermarket business. During FY 2017, the company focused on premium models and increased share of business in the market. During FY 2018, the company took concrete steps for technological advancements required in the tyre industry for BS-VI standards and vehicle electrification. TVS Sensing Solutions Private Limited (TSSPL) (formerly known as ZF Electronics TVS India Pvt. Limited (ZFTVS)) became a wholly owned subsidiary of TSIL from 4th June 2018 and subsequently its name was changed to TSSPL. In August 2019, the company launched the Brand TVS Eurogrip. The Company introduced several new products in the two-wheeler and three-wheeler category including tubeless tyres for motorcycles, scooter as well as tyres for e-rickshaw segment in 2020-21. It also commenced production of racing tyres. Retail outreach initiative was launched during the year 2021 to engage retail partners. This resulted in the Company adding large number of retail partners to the distribution network. In 2021, through the Scheme of Amalgamation, Sundaram Industries Private Limited (SIPL) got merged with TV Sundram Iyengar & Sons Private Limited (TVSS). Further to that, 21,23,115 shares held by TVSS in the Company and 7,50,000 shares held by SIPL in the Company aggregating to 28,73,115 shares were tansferred to TVS Mobility Private Limited. Consequently, TVS Mobility Private Limited became the promoter of the Company. The Company established an overseas wholly owned subsidiary company i.e., M/s. Super Grip Corporation, USA in 2023-24. The Company undertook a significant expansion at its Madurai facility in The Off Highway Tyre (OHT) division. It acquired a company in the United States of America known as 'Supergrip Corporation' in 2024.