TVS Srichakra to ramp up tyre production at Rudrapur plant

New Delhi, May 12

Advertisement

Two and three-wheeler tyre maker TVS Sric-hakra 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 the agriculture sector. At present, 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 Tyre brand. It markets tyres in the overseas markets under the ‘Eurogrip’ brand.— PTI