TVS Srichakra to invest Rs 160 cr to ramp up tyre production

Two and three wheeler tyres maker TVS Srichakra plans to invest Rs 160 crore this fiscal to ramp up production at its two manufacturing facilities to 25 lakh tyres a month.
The company, which posted a net profit of Rs 197.21 crore for the fiscal ended March 31, had invested Rs 150 crore last fiscal to expand its capacity to 23 lakh units from 20 lakh tyres.
"We plan to expand our tyre production capacity to 2.5 million tyres per month from the 2.3 lakh tyres currently and for that we have earmarked a sum of Rs 160 crore this fiscal," TVS Srichakra Director P Vijayaraghavan told PTI.

The company's two plants -- Madurai and Rudrapur in Uttarakhand -- would see the capacity expansion this fiscal, he added.
The tyre maker, which is a part of the TVS Group, is also looking at expanding its exports in the fiscal.
"We are looking at ways to expand exports of two and three wheelers and also off-road tyres used in agri sector. Currently, we export such off-road tyres to around 70 countries," Vijayaraghavan said.
In the domestic market, the Chennai-based firm sells its products under the 'TVS Tyres' brand. It markets tyres in the overseas markets under the 'Eurogrip' brand.