TVS Srichakra, a part of TVS Group, announced its expansion plans through capital infusion of Rs. 1000 Cr.
The Expansion Projects of TVS Srichakra
The investment is planned to be made over a period of three-years, and will be funded by a mix of debt and internal accruals. The Capex shall be towards ramping up manufacturing at Madurai and Pantnagar manufacturing units of TVS Srichakra, enhancing its capacity of radial tyres and other premium products.
The expansion shall cater to both domestic as well as international customers of TVS.
On completion of said expansion projects, TVS Srichakra’s capacity of 2 & 3-wheeler tyres shall increase by 25-30% and off-highway tyres capacity shall be doubled from present.
Commenting on expansion plan Mr. S Ravichandran, Director, TVS Srichakra Limited said “With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in R&D and product development, we are further strengthening our manufacturing capabilities to cater to the growing demands in India and abroad. This investment reflects our fullest confidence in India’s recovery” as per press release of TVS Eurogrip dated 8th December 2020.
About TVS Srichakra: TVS Srichakra is part of the TVS Group, and was incorporated in 1982. The company is headquartered in Madurai. TVS Srichakra has manufacturing facilities in Madurai (Tamil Nadu) and Pantnagar (Uttarakhand) with a production capacity of over 3 million tyres a month. The Company specializes in Two & Three-wheeler tyres, Industrial Pneumatic tyres, Farm and Implement tyres, Skid-steer tyres, Multi-purpose tyres and Floatation tyres. TVS Srichakra’s products are available in over 85 countries.