TVS SRICHAKRA LIMITED

Makes automotive tyres, tubes and flaps for two-wheelers and off-highway vehicles under the Eurogrip brand, manufacturing from its Vellaripatti, Madurai plants. For FY26, consolidated revenue was Rs 3,643.35 crore with net profit of Rs 71.06 crore, while standalone revenue reached Rs 3,389.66 crore. The cost base is dominated by raw materials at 54.3% of revenue, followed by other operating expenses at 22.6% and employee costs at 11.8%, with depreciation at 3.9% of revenue. Capital investment of up to Rs 220 crore has been approved for capacity additions: a 5% expansion of the two-wheeler tyre plant (Rs 110 crore, target H1 FY2028-29) and a 25% expansion of the off-highway tyre plant (Rs 110 crore, target H1 FY2027-28), against current capacity utilisation of 80-85% and 75-80% respectively. Branded retail is being expanded through exclusive Eurogrip outlets, with 19 stores now open after recent additions in Mehsana, Noida, Bareilly, Panipat and Hyderabad, selling the full two-wheeler tyre range plus tubes and offering fitment, puncture repair, air pressure checks and warranty support. The step-down subsidiary TVS Sensing Solutions has signed an agreement to acquire a 51% stake in Pune-based Weber Drivetrain, an EV motor and controller maker with FY26 turnover of Rs 14.17 crore, for Rs 1.43 crore in cash.