TVS Motor Company is set to outpace its competitors across domestic and global markets this fiscal year. CEO KN Radhakrishnan attributes this confidence to a series of new product launches and a focused enhancement of operations in major regions.
The company expects a hike in domestic growth, driven by a robust recovery in rural areas, historically a critical market for two-wheelers. With monsoons predicted to be normal, the rural economy shows signs of outperforming urban counterparts, marking a pivotal shift. Radhakrishnan predicts a strong performance in the upcoming quarters, citing the government’s infrastructure push and employment-focused budget as key catalysts.
Global Expansion: Moves in Key Regions
On the international front, TVS expects stronger performance, particularly in Africa, despite challenges like currency devaluation and inflation. Radhakrishnan predicts limited further decline, with efforts expected to yield better results this year. The company also targets sharp increase opportunities across Latin America and the Middle East, bolstering its global presence.
Innovation and Investment
Radhakrishnan emphasized the company’s dedication to innovation, with over Rs 1,000 crore allocated for the development of new products. This quarter will witness the introduction of two new offerings—one in the internal combustion segment, and another in electric vehicles—further diversifying TVS’s portfolio.
Logistical hurdles linked to the Red Sea have impacted overseas dispatch timelines. TVS has implemented measures to address these issues, with Radhakrishnan confident of improvement within the quarter.
For the April-June quarter, TVS Motor reported a 6% increase in consolidated net profit, reaching Rs 461 crore. Total income for the period rose to Rs 10,448 crore, highlighting the company’s strategic resilience.
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