Indian Economy News

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.

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