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TVSSRICHAK - TVS Srichakra

📊 NSE: TVSSRICHAK 🏢 Tyres 📅 Last Updated: 12/14/2025 14:36

📢 Recent Corporate Announcements

TVS Srichakra Launches 100-Day "Saksham Niveshak" Campaign for Unclaimed Dividends

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Apr 2026, 05:22 PM

TVS Srichakra has initiated the second phase of its "Saksham Niveshak" campaign, running from April 1 to July 9, 2026. The program aims to help shareholders claim unpaid dividends for the period between FY 2018-19 and FY 2024-25. It also encourages the update of KYC details, bank mandates, and nominations to prevent the mandatory transfer of shares to the Investor Education and Protection Fund (IEPF). This initiative follows a communication from the IEPF Authority to facilitate investor claims and record updates.

Campaign duration is 100 days, starting April 1, 2026, and concluding on July 9, 2026.
Covers unclaimed dividends for seven financial years from 2018-19 to 2024-25.
Aims to prevent the mandatory transfer of shares to the Investor Education and Protection Fund (IEPF).
Shareholders must submit KYC updation forms to the RTA, Integrated Registry Management Services, or contact their DP.

💡 Shareholders should verify if they have any unclaimed dividends from FY 2018-19 onwards and ensure their KYC details are updated before July 9, 2026, to avoid share transfers to the IEPF.

TVS Srichakra to Pay USD 1.03 Million for US Sponsorship and Suite License Agreement

🟡 NEUTRAL ⭐ 4/10

EXPANSION 📅 10 Apr 2026, 06:31 PM

TVS Srichakra Limited has executed an Assignment and Assumption Agreement to take over sponsorship and suite license obligations from its US-based subsidiary, Super Grip Corporation. The agreement with Bristol Motor Speedway, LLC, is designed to enhance the visibility and reach of the company's brands in global markets. TVS Srichakra will pay a total of USD 1,033,250 (approximately ₹8.6 crore) in tranches for the remaining years of the contract. The agreement is effective until December 31, 2028, and represents a direct commitment by the parent company to international marketing efforts.

Assumption of rights and obligations from 100% subsidiary Super Grip Corporation, USA
Total financial commitment of USD 1,033,250 payable in tranches to Bristol Motor Speedway
Agreement includes a Suite License and a Sponsorship Agreement originally dated in early 2024
Contract duration is fixed until December 31, 2028
Transaction between the company and its subsidiary is classified as a Related Party Transaction at arm's length

💡 Investors should view this as a brand-building exercise in the North American market. Monitor whether these marketing investments lead to a measurable increase in export sales or global brand recognition over the next few years.

TVS Srichakra Expands Retail Presence with 14th Signature Store in Ludhiana

🟢 POSITIVE ⭐ 4/10

EXPANSION 📅 31 Mar 2026, 12:54 PM

TVS Srichakra Limited has announced the opening of its 14th exclusive 'Eurogrip Tyres' signature store in Ludhiana, Punjab. This move is part of the company's strategic plan to enhance its branded retail footprint and provide specialized services for the 2-wheeler segment. The company, which produces over 3 million tyres per month, is focusing on the high-growth replacement market by offering a complete range of products from commuter to superbike tyres. This expansion follows recent store openings in Delhi and Alappuzha, indicating a steady push into key regional markets.

Launched 14th exclusive signature retail outlet in Ludhiana, Punjab.
Company maintains a monthly production capacity of over 3 million tyres across Madurai and Rudrapur units.
The store offers a full range of tyres for scooters, commuter bikes, adventure tourers, and superbikes.
TVS Srichakra exports products to over 85 countries and operates a design center in Milan, Italy.
Expansion targets the replacement market and strengthens the brand's direct-to-consumer service capabilities.

💡 Investors should monitor the company's progress in scaling its exclusive retail network as it helps improve brand equity and margins in the replacement market. The stock remains a steady play in the 2-wheeler ancillary segment with strong OEM and export ties.

TVS Srichakra Expands Retail Footprint with 13th Signature Store in Ahmedabad

🟢 POSITIVE ⭐ 4/10

EXPANSION 📅 31 Mar 2026, 12:50 PM

TVS Srichakra Limited, under its Eurogrip Tyres brand, has inaugurated its 13th signature retail outlet in India, located in Ahmedabad. This marks the company's second branded store in the city, aimed at strengthening its direct-to-consumer presence in the high-demand Gujarat market. The outlet offers a full range of two-wheeler tyres, from commuter motorcycles to superbikes, along with integrated services like professional fitment and oil changes. This expansion is part of a broader strategy to build a premium retail network across key Indian urban centers.

Opening of the 13th signature store in India and the 2nd exclusive outlet in Ahmedabad.
The store provides a complete range of tyres for scooters, performance bikes, and adventure tourers.
TVS Srichakra maintains a production capacity of over 3 million tyres per month across its facilities.
The company is part of the USD 3 Billion TVS Mobility group and exports to over 85 countries.

💡 Investors should note the company's focus on high-margin retail and brand building through signature stores. While a single store launch has limited immediate impact on the bottom line, the continued expansion of this retail model is a positive long-term indicator for market share growth.

TVS Srichakra Shareholders Approve Re-appointment of R Naresh as MD with 96.35% Majority

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 31 Mar 2026, 10:52 AM

TVS Srichakra Limited has announced the results of a postal ballot where shareholders approved the re-appointment of Mr. R Naresh as Managing Director (Executive Vice-Chairman). The new term is for three years, effective from June 16, 2026. The special resolution passed with a significant majority of 96.35% of the total votes polled. However, there was notable dissent from public institutions, with 25.18% of their votes cast against the resolution.

Special resolution passed for re-appointment of Mr. R Naresh as MD for a 3-year term starting June 2026.
Total voter turnout was 46.48%, with 3,559,105 votes polled out of 7,657,050 shares.
Overall approval stood at 96.35% (3,429,181 votes) in favor versus 3.65% against.
Public institutional investors showed resistance, with 25.18% of their votes (128,673 shares) cast against the proposal.
Promoter and Promoter Group voted 100% in favor of the resolution.

💡 Investors should note the continuity in leadership as a positive for operational stability, though the institutional dissent may signal underlying concerns regarding executive compensation or governance that should be monitored in future filings.

TVS Srichakra Receives ₹29.47 Crore Income Tax Demand Notice

🔵 WATCH ⭐ 6/10

LEGAL 📅 26 Mar 2026, 07:23 PM

TVS Srichakra Limited has been served an Income Tax demand notice totaling ₹29.47 crores, which includes both tax and interest for the Assessment Year 2018-19. The demand stems from a disallowance under Section 14A of the Income Tax Act, 1961, and includes proposed penalty proceedings for alleged under-reporting of income. The company maintains that the demand lacks merit and intends to file an appeal with the Commissioner of Income Tax (Appeals) within 30 days. While the company does not expect a material financial impact, the outcome of the litigation remains a point of interest for stakeholders.

Total tax demand of ₹29,47,06,740 (including interest) raised by the Income Tax Department.
The dispute relates to disallowance under Section 14A for FY 2017-18 (AY 2018-19).
Penalty proceedings under Section 270A have been proposed for under-reporting of income.
The company will contest the order by filing an appeal with CIT (Appeals) within 30 days.
Management believes the demand notice does not consider previously submitted case laws and responses.

💡 Investors should monitor the progress of the appeal process as the demand represents a significant contingent liability. No immediate action is required as the company is pursuing standard legal remedies to contest the claim.

TVS Srichakra to Close Trading Window from April 1, 2026 for Q4 and FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Mar 2026, 05:40 PM

TVS Srichakra Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's financial disclosures. The window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ending March 31, 2026. This is a standard regulatory procedure to prevent insider trading during the period when sensitive financial information is being finalized.

Trading window closure effective from April 1, 2026.
Applies to designated persons and their immediate relatives as per SEBI regulations.
Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
Window will reopen 48 hours after the official announcement of the financial results.

💡 No action is required as this is a routine regulatory filing. Investors should look forward to the upcoming Q4 and FY26 earnings release for fundamental performance updates.

TVS Srichakra Invests ₹3.79 Crore in Navia Two Power for Solar Energy Access

🟡 NEUTRAL ⭐ 4/10

M&A 📅 20 Mar 2026, 06:18 PM

TVS Srichakra Limited has invested approximately ₹3.79 crore to acquire a 5.92% stake in Navia Two Power Private Limited. The company acquired 19,863 equity shares at a premium of ₹1,897.02 per share to facilitate solar power procurement under the Group Captive mode. This move is designed to comply with Indian electricity laws regarding captive power consumption and secure renewable energy for its operations. Navia Two Power is a newly incorporated special-purpose vehicle (SPV) under the Zelestra Group focused on renewable energy generation.

Investment of ₹3,78,79,138 for 19,863 equity shares in Navia Two Power Private Limited.
Total shareholding in the target entity increased from 5,915 to 25,778 equity shares.
Acquisition price includes a face value of ₹10 and a significant premium of ₹1,897.02 per share.
The target company is a renewable energy SPV incorporated in August 2024 with zero turnover to date.
Strategic objective is to secure solar power under the Group Captive model for manufacturing operations.

💡 This is a routine strategic investment to optimize energy costs and meet ESG goals; no immediate action is required as the financial outlay is small relative to the company's scale.

TVS Srichakra Seeks Shareholder Approval to Re-appoint R Naresh as MD for 3 Years

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 25 Feb 2026, 05:55 PM

TVS Srichakra has initiated a postal ballot to seek shareholder approval for the re-appointment of Mr. R Naresh as Managing Director (Executive Vice-Chairman) for a three-year term starting June 16, 2026. As Mr. Naresh will attain the age of 70 during this tenure, a special resolution is required under the Companies Act. The proposed remuneration is capped at 5% of the company's net profits, with provisions for minimum remuneration in case of inadequate profits. Shareholders can participate in the electronic voting process between February 28 and March 29, 2026.

Proposed re-appointment of Mr. R Naresh for a 3-year term effective from June 16, 2026.
Remuneration is set at a maximum of 5% of net profits as per Section 197 of the Companies Act.
Special resolution is necessitated by the appointee reaching 70 years of age during the term.
E-voting period for shareholders starts on February 28, 2026, and ends on March 29, 2026.
Mr. R Naresh has been associated with the company board since June 1982, providing over 40 years of leadership.

💡 Investors should consider this a routine move to ensure leadership continuity; no immediate portfolio changes are recommended based on this administrative update.

TVS Srichakra Q3 Results: Revenue Up 14% to ₹916.5 Cr; Returns to Profitability with ₹11.2 Cr PAT

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 12:47 PM

TVS Srichakra Limited (TVS Eurogrip) reported a strong turnaround in Q3 FY26, with consolidated revenue growing 14.2% YoY to ₹916.51 crore. The company posted a net profit of ₹11.18 crore, a significant recovery from the ₹6.02 crore loss reported in the same period last year. Results were influenced by a net exceptional gain of ₹13.88 crore, which included a ₹18.81 crore government subsidy offset by ₹11.67 crore in new labour code obligations. The board also approved the re-appointment of Mr. R Naresh as Managing Director for a three-year term starting June 2026.

Consolidated Revenue from Operations grew 14.2% YoY to ₹916.51 crore from ₹802.73 crore.
Consolidated Net Profit stood at ₹11.18 crore for Q3 FY26 versus a loss of ₹6.02 crore in Q3 FY25.
Exceptional items include a ₹18.81 crore investment promotion subsidy and a ₹11.67 crore provision for New Labour Code obligations.
Standalone EPS improved significantly to ₹18.49 for the quarter from a negative ₹4.02 in the prior year period.
Nine-month consolidated revenue reached ₹2,662.41 crore, up from ₹2,435.45 crore in the previous year.

💡 The company's return to profitability and steady revenue growth are positive indicators for long-term investors. Shareholders should monitor how the company manages the transition to the New Labour Codes and the sustainability of operating margins without one-time subsidy gains.

TVS Srichakra Q3 Results: Consolidated Net Profit at ₹11.18 Cr; Revenue Grows 14% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 12:40 PM

TVS Srichakra reported a consolidated revenue of ₹916.51 crore for Q3 FY26, marking a 14.2% increase compared to ₹802.73 crore in the same quarter last year. The company successfully turned profitable with a net profit of ₹11.18 crore, recovering from a loss of ₹6.02 crore in Q3 FY25. The bottom line was significantly impacted by net exceptional gains of ₹13.88 crore, which included an ₹18.81 crore government subsidy offset by ₹11.67 crore in new labor code obligations. Additionally, the board has approved the re-appointment of Mr. R Naresh as Managing Director for a three-year term.

Consolidated Revenue from Operations grew 14.2% YoY to ₹916.51 crore from ₹802.73 crore.
Turned around to a Consolidated Net Profit of ₹11.18 crore vs a loss of ₹6.02 crore in Q3 FY25.
Exceptional items included a ₹18.81 crore capital subsidy and a ₹11.67 crore provision for new labor codes.
Nine-month consolidated profit stands at ₹34.97 crore compared to ₹10.87 crore in the previous year.
Re-appointed Mr. R Naresh as Managing Director (Executive Vice-Chairman) for 3 years effective June 2026.

💡 The company shows a strong YoY recovery in profitability and steady revenue growth, though exceptional items skewed the current quarter's bottom line. Investors should monitor the impact of rising raw material costs and the finalization of labor code rules on future margins.

TVS Srichakra Launches 12th Exclusive Retail Outlet in Alappuzha to Boost Retail Presence

🟢 POSITIVE ⭐ 4/10

EXPANSION 📅 09 Feb 2026, 01:19 PM

TVS Srichakra Limited has opened its 12th exclusive signature store in Alappuzha, Kerala, under the Eurogrip Tyres brand. This expansion aims to tap into Kerala's strong two-wheeler market and enhance the company's automotive aftermarket presence. The company currently operates with a production capacity of over 3 million tyres per month and exports to 85+ countries. This retail strategy focuses on providing expert services like tyre fitment and care alongside product sales.

Opened 12th exclusive signature retail outlet in Alappuzha, Kerala
Total production capacity exceeds 3 million tyres per month across two facilities
Global footprint spans over 85 countries with R&D centers in India and Italy
Part of the USD 3 Billion TVS Mobility group

💡 This expansion reinforces the company's focus on the high-margin replacement market; investors should monitor the growth of the retail network.

TVS Srichakra Expands Retail Footprint with 11th Signature Store in New Delhi

🟢 POSITIVE ⭐ 4/10

EXPANSION 📅 03 Feb 2026, 01:26 PM

TVS Srichakra Limited, under its Eurogrip Tyres brand, has inaugurated its 11th exclusive signature retail outlet in New Delhi. This expansion is part of a strategic move to strengthen its presence in high-potential automotive markets like the national capital. The store will offer the full range of two-wheeler tyres and tubes along with value-added services such as tyre fitment and engine oil changes. With a monthly production capacity of over 3 million tyres, the company is focusing on increasing its direct-to-consumer reach in the replacement market.

Inaugurated the 11th branded signature store in India, located in West Delhi
Company maintains a production capacity of over 3 million tyres per month across two facilities
TVS Srichakra is part of the USD 3 Billion TVS Mobility group and exports to over 85 countries
The new outlet provides comprehensive services including tyre care, puncture repair, and lubricant changes
Retail stores are now operational in major cities including Chennai, Ahmedabad, Hyderabad, and Patna

💡 Investors should monitor the company's retail expansion as it strengthens the high-margin replacement market segment. The stock remains a steady play on the growing two-wheeler demand and export potential.

TVS Srichakra Approves Rs 210 Cr Investment for 40-45% Capacity Expansion

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 17 Jan 2026, 02:34 PM

TVS Srichakra's Board has approved a capital investment of up to Rs 210 crore to expand manufacturing capacity at its Rudrapur facility in Uttarakhand. The company aims to increase its current capacity of 92-95 lakh tyres per annum by approximately 40-45% to meet growing demand in the 2/3-wheeler segment. The expansion project is slated for completion by the first half of FY 2027-28 and will be funded through a mix of internal accruals and debt. This move comes as current capacity utilization has reached a high level of 80-85%.

Capital investment of up to Rs 210.00 crore approved for the Rudrapur manufacturing unit.
Proposed capacity addition of 40-45% to the existing 92-95 lakh tyres per annum.
Current capacity utilization is high at approximately 80-85%.
Project completion targeted for the first half of FY 2027-28.
Funding strategy involves a combination of internal accruals and debt.

💡 Investors should monitor the execution timeline and the impact of additional debt on the balance sheet, though the expansion signals strong demand visibility. The high current utilization suggests this capacity is necessary for long-term revenue growth.

TVS Srichakra Reports Status of Physical Share Transfer Re-lodgement Requests

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Jan 2026, 05:45 PM

TVS Srichakra Limited has filed a report regarding the re-lodgement of transfer requests for physical shares for the period July 7, 2025, to January 6, 2026. This filing is in compliance with a specific SEBI circular providing a special window for such transfers. The company reported receiving two requests during this period, both of which were processed within an average of nine days. However, both requests were ultimately rejected by the Registrar and Share Transfer Agent.

Report covers the six-month period from July 7, 2025, to January 6, 2026
Total of 2 requests for re-lodgement of physical share transfers were received
100% of the received requests (2 out of 2) were rejected after processing
The average processing time for these requests was 9 days

💡 No action is required as this is a routine administrative disclosure. Investors holding physical shares are encouraged to dematerialize them for easier liquidity and compliance.

View All TVSSRICHAK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations increased 9.8% YoY to INR 3,022.90 Cr in FY25 from INR 2,754.03 Cr in FY24. The replacement segment, specifically Off-Highway Tyres (OHT), contributed approximately INR 780 Cr during the first nine months of fiscal 2024, though it faced headwinds due to a slowdown in export demand.

Geographic Revenue Split

The company expanded its geographic footprint in the USA through the acquisition of Super Grip Corporation (SG Corp) in Tennessee in November 2023. While domestic OEM and replacement markets are primary, the OHT segment is heavily export-oriented, though it witnessed a demand slowdown in fiscal 2024.

Profitability Margins

Net profit margin was reported at 3.76% for FY25, up from 1.22% in FY24. However, Profit Before Tax (PBT) decreased significantly by 65.0% YoY to INR 48.61 Cr in FY25 from INR 138.95 Cr in FY24, primarily due to higher finance costs and raw material pressures.

EBITDA Margin

Operating margins were projected to improve to 9-10% in fiscal 2024 due to moderating rubber prices. Standalone EBITDA margin for Q1 FY23 was 4.2%, impacted by front-loaded advertising spends (5.9% of sales) related to IPL sponsorship.

Capital Expenditure

The company maintains a prudently funded capex spend to support its manufacturing units in Vellaripatti (Madurai) and Uttarakhand. Specific planned capex for FY26 is not disclosed, but historical spend has focused on capacity for 2-wheeler and 3-wheeler tyres.

Credit Rating & Borrowing

CRISIL Ratings recently withdrew the A1+ rating for the INR 300 Cr Commercial Paper programme at the company's request. Total borrowings stood at INR 812.20 Cr as of March 31, 2025, with a Debt-Equity ratio of 0.73.

⚙️ Operational Drivers

Raw Materials

Rubber is the primary raw material, with raw material costs accounting for 61.4% of total income in Q1 FY23. Other inputs include chemicals and fabric used in tyre manufacturing.

Import Sources

Not disclosed in available documents; however, the company is sensitive to global rubber price fluctuations.

Capacity Expansion

The company operates major manufacturing units in Madurai and Uttarakhand. While specific MTPA figures are not disclosed, the acquisition of SG Corp in the USA adds specialized capacity for solid industrial and all-terrain vehicle tyres.

Raw Material Costs

Raw material costs remained elevated at 61.4% of income in Q1 FY23 compared to 55.1% in Q1 FY22. The company employs internal cost mitigation actions as high costs are not always fully passed on to OEM customers.

Manufacturing Efficiency

The company focuses on productivity through Kaizen competitions, winning awards for 'Productivity Improvement Kaizen' and 'Poka-Yoke' at national levels in FY25.

📈 Strategic Growth

Expected Growth Rate

9.80%

Growth Strategy

Growth is driven by the acquisition of Super Grip Corporation (USA) to penetrate the solid industrial and mining vehicle tyre markets. The company is also focusing on the high-margin replacement market and expanding its 'TVS Eurogrip' brand presence through aggressive marketing, such as IPL sponsorships.

Products & Services

2-wheeler and 3-wheeler tyres, off-highway tyres (OHT), solid industrial tyres, all-terrain vehicle (ATV) tyres, mining vehicle tyres, and port equipment tyres.

Brand Portfolio

TVS Eurogrip, TVS Srichakra, and Super Grip (SG Corp).

New Products/Services

Expansion into solid industrial tyres and specialized tyres for all-terrain and port equipment vehicles following the SG Corp acquisition.

Market Expansion

Targeting the North American market through the Tennessee-based SG Corp and strengthening the domestic replacement market for two-wheelers.

Market Share & Ranking

Not disclosed in available documents, though it is a leading player in the Indian 2-wheeler tyre segment.

Strategic Alliances

The company is a key supplier to major OEMs like Bajaj, Yamaha, and others, as evidenced by supplier awards.

🌍 External Factors

Industry Trends

The industry is shifting toward specialized off-highway tyres and sustainable manufacturing. TVS Srichakra is positioning itself by achieving 80% renewable energy usage and expanding into niche industrial tyre segments.

Competitive Landscape

Competes with major Indian tyre manufacturers in the 2-wheeler segment and global players in the OHT/industrial segment.

Competitive Moat

The company's moat is built on its strong brand equity (TVS Eurogrip), deep relationships with major Indian OEMs, and a specialized product portfolio in the OHT and industrial segments which have higher entry barriers than standard tyres.

Macro Economic Sensitivity

Highly sensitive to global rubber prices and interest rate cycles. Finance costs increased 15.6% to INR 49.17 Cr in FY25 due to rising average interest rates.

Consumer Behavior

Increasing demand for premium 2-wheeler tyres and specialized all-terrain tyres in export markets.

Geopolitical Risks

Geopolitical uncertainties are cited as a factor that could materially impact operations, particularly affecting export volumes in the OHT segment.

⚖️ Regulatory & Governance

Industry Regulations

Complies with SEBI (LODR) Regulations, 2015 and the Companies Act, 2013. Operations are subject to environmental pollution norms and industrial relations standards.

Environmental Compliance

Maintains an Internal Financial Control Framework and monitors material effluent or pollution problems. 80% of energy is now from renewable sources.

Taxation Policy Impact

The company accounts for current and deferred tax; tax expense was INR 1.89 Cr in Q4 FY22.

Legal Contingencies

The company instituted a Voluntary Retirement Scheme (VRS) for workmen at the Madurai plant, incurring an exceptional expense of INR 5.06 Cr in Q1 FY23.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices (rubber) and fluctuations in export demand are key risks that could impact margins by 2-3%.

Geographic Concentration Risk

While expanding globally, a significant portion of manufacturing and revenue remains concentrated in India, particularly the Madurai and Uttarakhand regions.