TVS Logistics Services, part of $7-billion worth TVS Group, has set the target of $1-billion revenue in the next three years. This comes on the backdrop of opportunities opened up after the implementation of goods and services tax (GST).
Other factors contributing to the growth would be global integration and cross deployment of capabilities, which were acquired through overseas buyouts and as well as bringing unique differentiated technologies to Indian market, said Managing Director (MD) R Dinesh.
"With our global revenue already crossing $1 billion, we are now setting our focus firmly on India operations to achieve this target. Our India business, especially after the acquisition of DIESEL from Tatas in 2015, has been growing above 30% CAGR (compound annual growth rate) over the last five years. We look to improve this growth further in the next three years to reach the target of $1-billion revenue in India."
The company expects to close the current financial year with a revenue of around Rs 2,700 crore.
The company also announced a new organisational set up with view to triggering the overall India business growth. The company has appointed R Shankar as chief executive officer (CEO) of India operations.
TVS Logistics had set up centres of excellence (COE) in UK, the US, Singapore and India, among others.
Deputy MD S Ravichandran added implementing Matrix structure as well as solutions acquired globally will enable the company to offer solutions to MNC clients in India.
The company, which manages 10 million sq ft of warehouse space in India, employs around 19,000.
R Shankar said, "We will bring in operational synergies to provide end-to-end solutions for our customers and value added services in India."
TVS Logistics' services include contract logistics, warehousing, transportation, freight forwarding, packaging design and solutions, in-plant and aftermarket solutions, material handling, material management, free trade warehousing, infrastructure solutions and technology logistics. TVS Logistics works with multiple industries including automotive, defence, electronics, discrete component manufacturing, engineering, FMCG, retail, FMCG, utilities, energy and chemicals.