TVS Srichakra Ltd lines up INR 1000 Crore expansion program

TVS Srichakra Ltd., a leading Indian manufacturer of 2&3 wheeler and off-highway tyres, today announced its planned capital expenditure of Rs.1,000 Crores to ramp up manufacturing in its Madurai and Pantnagar plants. This investment is planned to be made over a three year period. The investment, when fully made, will result in an increase in 2 & 3 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. TVS Srichakra is India’s leading 2 & 3-wheeler tyre manufacturer. The company supplies tyres to most two and three wheeler manufacturers that operate in India, besides holding a significant presence in the domestic after market. The company is also a leading exporter of 2 & 3 wheeler tyres. The expansion program being undertaken will focus on setting up additional capacities in this space to cater to growing demand across its customer base – both domestically and globally. Included in this investment, is a plan to enhance capacities in the company’s pioneering range of radial tyres and other premium products. The investment outlay announced today will also significantly increase TVS Srichakra’s capacities and technological