TVS Srichakra to invest Rs 1,000 cr to ramp up capacity at two facilities

The company supplies tyres to a majority of two- and three-wheeler manufacturers in India, apart from having a significant presence in the domestic aftermarket

TVS Srichakra Ltd, part of the $8.5 billion TVS Group and a leading tyre maker will invest around Rs 1,000 crore to ramp up manufacturing at its Madurai and Pantnagar plants. The proposed investment will be made over a three-year period.

The investment, when fully made, will result in an increase in two- and three-wheeler tyre capacity by 25-30% and doubling of off-highway tyre capacity from current levels. The investment is planned to be funded by a mix of debt and internal accruals.

The Madurai (Tamil Nadu) and Pantnagar ( Uttarakhand) facilities have a production capacity of over 3 million