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MSMEs need to be future ready, foster development, says CII president

CII conference highlights MSMEs' future readiness and role in eastern region's development

TVS Supply Chain Solutions expands warehousing footprint in India

The warehousing solutions are equipped with cutting-edge technology systems and top-of-the-line material handling equipments

TVS Supply Chain Solutions inaugurates warehousing facility in TN's Hosur

TVS Supply Chain Solutions Ltd on Thursday inaugurated an ultra-modern multi-client warehousing facility in Hosur, Tamil Nadu, as part of its expansion in the domestic market. The new warehouse offers value-added solutions like automation and data analytics to improve client productivity, the company said. The latest warehouse facility will provide more than 1,200 jobs, of which 300 will be women employees in various roles like kitting and binning, among others, it said. With the addition of this 6.50 lakh square feet of space, the company's total warehousing capacity has increased to 21.85 million sq ft from 21.2 million sq ft of space, TVS Supply Chain Solutions said. Globally, TVS Supply Chain Solutions operates around 300 strategically located warehouses across five continents, covering over 27 million sq ft of warehousing space. "We have strategically positioned our global parts distribution centre in this new facility, which will serve as a hub for our global market," K N ..

TVS SCS Q3 results: Company posts consolidated net profit of Rs 10 crore

The company's revenue from operations was also down by 6.4 per cent during the quarter under review to Rs 2,221.8 crore, compared to Rs 2,373.4 crore during the Q3 of FY23

Incumbents strike back: How will electric 2W game play out for Ola, others?

There is indeed a lot of the race left. Electric, for all the hype, is just about 15 per cent of the scooter market. So, what is on the cards?

TVS Industrial and Logistical Parks, Goa-IPB to set up warehousing park

TVS Industrial and Logistical parks has signed a memorandum of understanding with the Goa Investment Promotion and Facilitation Board for the development of a logistics and warehousing park in Goa. The strategic commitment involves an investment of Rs 125 crore, marking TVS ILP fostering industrial growth in Goa, a company statement issued here on Tuesday said. The state-of-the-art facility, to come up at the Verna Industrial Estate in Goa, would be spread across 15-20 acres and generate direct employment of 250 and indirectly 1,000 in the region, the statement said. TVS ILP CEO Ramnath Subramaniam exchanged documents with Goa-Investment Promotion and Facilitation Board CEO Swetika Sachan at the Invest Goa 2024 Summit recently. "Our partnership with Goa-IPB is a significant milestone for TVS ILP. The central government has been making investments in Goa's infrastructure, making it an attractive business destination. This MoU will help put Goa on the map for many businesses that ..

Festive cheer drives up TVS, Bajaj sales: Two-wheeler boom, export boost

Bajaj Auto reported that the domestic two-wheeler segment witnessed a 26 per cent growth, with sales climbing to 158,370 units in December 2023 from 125,553 units in December 2022

Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts

There are two discernible trends in the competitive electric two-wheeler market

TVS ILP announces strategic partnership with Lingotto via stake sale

TVS ILP has been the first corporate developer leading the path in Grade-A warehousing since its inception in 2005 with facilities across India

TVS Supply Chain Solutions posts loss of Rs 22 cr in Q2; revenue down 16%

The company's revenue from operations during the quarter under review was seen at Rs 2,262.9 crore, down 16 per cent compared to Rs 2,680.8 crore during the same period in 2022-23

TVS Credit Services posts 14% rise in AUM at Rs 23,516 cr as of Sep

Leading non-banking financial company TVS Credit Services Ltd has witnessed its assets under management grow by 14 per cent to Rs 23,516 crore as of September 30, 2023 the company said. The city-based company had registered an AUM of Rs 20,602 crore as of March 31, 2023. The company reported a 40 per cent growth on its net profit after tax for the quarter ending September 30, 2023 at Rs 134 crore, as compared to Rs 96 crore during the corresponding quarter of last year, a company statement here said. The company had registered a net profit after tax of Rs 252 crore for the half year ending September 30, 2023. In the first half of FY24, credit demand continued to be strong, aided by higher consumption and infrastructure outlay by the government. During H1 FY24, TVS Credit's business witnessed significant growth, led by the robust performance of consumer loans with a book growth of 59 per cent compared to H1 FY23, the statement said. The company also added 20 lakh new customers duri

TVS Srichakra to acquire US based firm, to grow off-highway tyre biz

TVS Srichakra Ltd, makers of TVS Eurogrip, Eurogrip and TVS brand of tyres, has drawn up plans to acquire the US-based Super Grip Corporation as part of its vision to grow in the global off-highway tyre market. On Friday, the company's board of directors approved the formation of a subsidiary in the United States market ahead of the acquisition plan. Super Grip Corporation, established in 1984, is engaged in manufacturing of high-quality tyres for the industrial tyre market. We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally, TVS Srichakra Ltd Director S Ravichandran said in a company statement here. The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time, he said. TVS Srichakra recently invested in a new plant at its facility in Madurai to double the off-highway tyre capacity. This investment is largely

Ola Electric to Ather Energy: EV players 'fully refund' wrongful claims

Though the defaulter companies have repaid the Rs 312.42 crore in full, only Rs 183.15 crore has actually reached the customers, the Ministry of Heavy Industries data show

TVS Supply Chain Solutions sells Circle Express for Rs 21.32 crore

TVS Supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company's profitability and sharpen its focus on core offerings to its customers, TVS Supply Chain Solutions said in a statement. In a regulatory filing, the company said the entire stake in Circle Express Ltd was sold to Winever Industrial Enterprises (UK) Ltd. "The sale of Circle Express is an important step as it found very little synergy with the core operations and represents an important step in our efforts to enhance our financial performance and sharpen our competitive edge," TVS Supply Chain Solutions Managing Director Ravi Viswanathan said. "We are confident that this sale will allow us to allocate resources more effectively and focus on driving sustainable growth and profitability, thereby increasing shareholder value," he said. By shedding th

TVS Motor announces India's first racing tournament for electric 2-wheelers

Event will be exclusively for company's Apache RTE motorcycles that will make debut

Witnessing trend of rising outsourcing of supply chain activities: TVS SCS

TVS Supply Chain Solutions was witnessing a trend of increasing outsourcing of supply chain activities across industries and a strong pipeline of new opportunities, a top official said. The city-based firm had registered a consolidated net loss for the April-June 2023 quarter at Rs 65.3 crore as compared to a net loss at Rs 1.8 crore during the corresponding quarter of last year. Revenue from operations during the quarter under review stood at Rs 2,342.4 crore from Rs 2,675.5 crore registered in the same period of last year. The profitability showed a decline due to higher interest cost and a one-time exceptional expense of Rs 25.57 crore during the quarter, a company statement here said. The Integrated Supply Chain Solutions business performance was driven by a very strong growth momentum with the segment reporting a revenue of Rs 1,318.8 crore during the April-June 2023 quarter from Rs 1,097.7 crore registered in the same period of last year. The ISCS segment revenue grew in Ind

TVS Motor eyes European market with launch of new Apache RTR 310 bike

Priced at Rs 2.42 lakh, the bike has been positioned competitively considering its BMW counterpart costs Rs 2.85 lakh

TVS Supply Chain Solutions appoints R Dinesh as Executive Chairman

TVS Supply Chain Solutions said on Tuesday its founder-promoter R Dinesh has been appointed the Executive Chairman of the company's Board. Dinesh, who was the Executive Vice Chairman of the newly listed TVS Supply Chain Solutions, will take over from S Mahalingam, the company said in a statement. Mahalingam stepped down as chairman after completing two terms as Independent Director, effective August 29, it said. Besides, the company also announced the appointment of K Ananth Krishnan and Narayan K Seshadri as additional Independent Directors on its Board. With this appointment, the new board will have five Independent Directors, it said. At the same time, the company said, S Ravichandran, Non-Executive Director has resigned from the Board of the company to pursue his personal interests.

TVS Supply Chain makes tepid debut on bourses, IPO subscribed 2.8 times

The stock opened at Rs 206, 4.6 per cent above its issue price of Rs 197

TVS Supply Chain shares settle 2% higher than issue price in debut trade

Shares of TVS Supply Chain Solutions Ltd, a part of TVS Mobility Group, ended with a premium of 2 per cent against the issue price of Rs 197 on the debut trade on Wednesday. The stock was listed at Rs 206.30, up 4.72 per cent from the issue price on the BSE. During the day, it jumped 5.83 per cent to Rs 208.50. Shares of the company ended at Rs 200.95, rising by 2 per cent. At the NSE, it began the trade at Rs 207.05, registering a gain of 5.10 per cent. During the day, the stock rallied 5.88 per cent to Rs 208.60 before settling at Rs 201.10, registering an increase of 2 per cent. The company commanded a market valuation of Rs 8,789.75 crore. In terms of traded volume, 17.59 lakh shares were traded at the BSE and over 2.41 crore shares at the NSE during the day. The Initial Public Offering (IPO) of TVS Supply Chain Solutions was subscribed 2.78 times last week. The Rs 880-crore IPO had a price range of Rs 187-197 per share. TVS Supply Chain Solutions is present in over 25 coun