TVS Srichakra to invest Rs150 crore to boost capacity
- Livemint" target="_blank">Livemint
- May 26, 2015
Chennai: Tyre-maker TVS Srichakra Ltd plans to invest Rs.150 crore in capacity expansion this year as it bets on replacement demand for two-wheeler tyres.
“We will expand our production capacity to 2.3 million tyres a month from 2 million tyres a month by December,” TVS Srichakra director P.Vijayaraghavan said on Monday.
The company, which also reported a 59% rise in fourth-quarter profit on lower rubber prices, plans to expand capacity at its facilities in Madurai in Tamil Nadu and Rudrapur in Uttarakhand.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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