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TVS Srichakra Ltd.

BSE: 509243 Sector: Auto
NSE: TVSSRICHAK ISIN Code: INE421C01016
BSE 00:00 | 18 Mar 2247.40 -14.65
(-0.65%)
OPEN

2261.00

HIGH

2292.00

LOW

2231.00

NSE 00:00 | 18 Mar 2247.70 -7.90
(-0.35%)
OPEN

2285.00

HIGH

2285.00

LOW

2245.00

OPEN 2261.00
PREVIOUS CLOSE 2262.05
VOLUME 139
52-Week high 3764.85
52-Week low 2175.00
P/E 14.86
Mkt Cap.(Rs cr) 1,722
Buy Price 2245.00
Buy Qty 100.00
Sell Price 2265.00
Sell Qty 3.00
OPEN 2261.00
CLOSE 2262.05
VOLUME 139
52-Week high 3764.85
52-Week low 2175.00
P/E 14.86
Mkt Cap.(Rs cr) 1,722
Buy Price 2245.00
Buy Qty 100.00
Sell Price 2265.00
Sell Qty 3.00

TVS Srichakra Ltd. (TVSSRICHAK) - Company History

TVS Srichakra is a part of TVS Group one of the leading auto ancillary groups. Incorporated in Jun.'82 Srichakra Tyres (STL) was promoted by R Naresh T V Sundram Iyengar & Sons and Sundaram Industries. The company was renamed as TVS Srichakra Tyres Limited on Oct 1997. The company manufactures two-wheeler three-wheeler and other industrial tyres.In Sep.'94 the company came out with a rights issue to meet the cost of expanding the installed capacity from 15 lac to 24 lac tyres/tubes and to meet the long-term working capital requirements at a project cost of Rs 3.60 cr. Some of the major clients of STL are Hero Honda Bajaj Auto TVS Suzuki etc. The company has a joint venture with DuPont and Cherry. STL exports to the US and the European market. In 1995-96 the company expanded its production capacity to 33 lac pa. Technology for modernisation of certain sections of its plant is imported from Schiesser Rubber Technology Switzerland. During 1997-98 the company has expanded its plant capacity of Automotive Tyres to 36 lakhs nos per annum and Tubes to 33 lakhs no per annum. This was funded through Long Term Debt and Internal Accruals. Nitya Sarvamangala Trading and Holding Ltd and TVS Srichakra Holdings Ltd are its subsidiaries. The company launched a new premium range of moped tyre under the name MEGA STAR during the year 1999-2000.In 2000-01 company has expanded its plant capacity of the tyre division from 53 lakh nos to 55 lakh nos of tyres per annum. The company has also invested Rs.3.17 crores for this expansion and modernization. It is developing new tyres for the export market. During 2002-03 the 2 subsidiary companies viz Nitya Sarvamangala Trading & Holding Limited and TVS Srichakra Holdings Limited was amalgamated with the company with prior approval from the board as well as from the Hon'ble High Court of Chennai. It has also increased the tyre capacity and tube capacity to 73.62 lakh and 65.52 lakh respectively. The above expansion as well as modernization of its plant was done at a outlay of Rs.525 lakhs. The company has invested in modeling software machine center and in other related infrastructure for developing proven products in the least possible development cycle time.The Company is accredited with ISO 9001 and ISO 14001 and won TPM Excellence award and practicing Six Sigma and Lean Manufacturing Techniques.During FY 2015 the Company entered new markets for the sale of off - highway tyres and expanded its two-wheeler tyre distribution channels. In order to improve the visibility of the brand it participated in various international shows. Besides it continues investments in brand building and thus provides two wheeler conveyance solutions in the industry while maintaining low cost of manufacturing.During FY 2016 the company sold its investments in TVS Europe Distribution Limited due to strategic reasons. It has taken initiatives for brand building to increase the aftermarket business. During FY 2017 the company focused on premium models and increased share of business in the market. During FY 2018 the company took concrete steps for technological `advancements required in the tyre industry for BS-VI standards and vehicle electrification.