TVS Srichakra is a part of TVS Group, the largest auto ancilary group with a turnover of 1.6 billion dollars.Incorporated in Jun.'82, Srichakra Tyres (STL) was promoted by R Naresh, T V Sundram Iyengar & Sons and Sundaram Industries. Renamed as TVS Srichakra Tyres Limited on Oct, 1997. The company manufactures tyres, tubes, Flaps, rubberised textile fabric and it is one of the largest manufacurers of Industrial Pneumatic Tyres, Farm & Implement Tyres, Skid Steer Tyres, Multipurpose and Vintage Tyres.
In Sep.'94, the company came out with a rights issue to meet the cost of expanding the installed capacity from 15 lac to 24 lac tyres/tubes and to meet the long-term working capital requirements, at a project cost of Rs 3.60 cr. Some of the major clients of STL are Hero Honda, Bajaj Auto, TVS Suzuki, etc. The company has a joint venture with DuPont and Cherry.
STL exports to the US and the European market. In 1995-96, the company expanded its production capacity to 33 lac pa. Technology for modernisation of certain sections of its plant are imported from Schiesser Rubber Technology, Switzerland. During 1997-98, the company has expanded its plant capacity of Automotive Tyres to 36 lakhs nos per annum and Tubes to 33 lakhs no per annum. This was funded through Long Term Debt and Internal Accurals.
Nitya Sarvamangala Trading and Holding Ltd and TVS Srichakra Holdings Ltd are its subsidiaries. The company launched a new premium range of moped tyre, under the name "MEGA STAR" during the year 1999-2000.
In 2000-01 company has expanded its plant capacity of the tyre division from 53 lakh nos to 55 lakh nos of tyres per annum. The company has also invested Rs.3.17 crores for this expansion and modernisation. It is developing new tyres for the export market. During 2002-03 the 2 subsidiary companies viz Nitya Sarvamangala Trading & Holding Limited and TVS Srichakra Holdings Limited was amalgamated with the company with prior approval from the board as well as from the Hon'ble High Court of Chennai. It has also increased the tyre capacity and tube capacity to 73.62 lakh and 65.52 lakh respectively. The above expansion as well as modernization of its plant was done at a outlay of Rs.525 lakhs. The company has invested in modeling software,machine center and in other related infrastructure for developing proven products,in the least possible development cycle time.
The Company is accredited with ISO 9001 and ISO 14001 and won TPM Excellence award and practising Six Sigma and Lean Manufacturing Techniques.