TVS Srichakra aims to grow this year by producing 36 lakh more tyres

One of the biggest players in the two and three-wheeler tyre segment, TVS Srichakra, also plans to launch over nine new models before the year end.

TVS Srichakra, India’s third biggest tyre manufacturer after MRF and Ceat, has big plans for the year ahead. After reporting a revenue figure of Rs. 489.37 crores for the Q3 of FY 14-15, it seems that the Madurai based tyre manufacturer has decided to reduce the gap between itself and the number two spot.

We met Mr. P Vijayaraghavan, Director, TVS Srichakra Ltd. yesterday in Delhi and commenting on the company’s performance, he said, “The two-wheeler industry is maintaining a double digit growth and as the largest supplier to vehicle manufacturers, our OEM sales continue to be good. With the thrust given in aftermarket, our numbers are consistently growing in this market segment too.”

The company rolls out nearly two million tyres every month from its two units located in Madurai, Tamil Nadu and Pantnagar, Uttarakhand. It also plans to increase its production capacity to 23 lakhs per month before the year ends.

Another significant information to be added here is the fact the two-wheeler industry in India grew by almost 13% between March and December 2014. Where motorcycles grew by 7%, scooters witnessed a growth of over 25%. All these figures are good news for TVS Srichakra as it is the largest supplier of tyres to vehicle manufacturers.

After its recently launched tubeless tyres getting good response in the domestic aftermarket as well as by the OEMs, TVS Srichakra plans to launch its radial tyres soon. The radial tyres will be made available in the aftermarket first and then will be offered to the vehicle manufacturers.