Electric speed bump ahead for TVS
The Chennai-based company, after finally hitting its stride in the two-wheeler business, has run into stiff competition in the nascent EV market.
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Editor's note: TVS Motor Co. is having a good run. Probably its best ever. Yesterday, its stock hit Rs 1,000 for the first time, a fitting addition to the recent stream of good news around the Chennai-based two- and three-wheeler manufacturer. TVS Motor shares have risen 91% in just the last year. In 2021-22, TVS became the No.3 player in the 13.5 million-units-a-year Indian two-wheeler industry, beating Bajaj Auto by a convincing margin. Its revenue breached the Rs 20,000 crore mark for the first time and its net profit came in at a record Rs 1,260 crore. Exports of two-wheelers, too, went past a million units in the financial year. In the first three months of the current fiscal, its revenue hit Rs 6,009 crore, an increase of a little over 50%, and its net profit Rs 321 crore, an over 500% increase. On the product front, TVS seems to have cracked the code. Over the years, its four-stroke scooter Jupiter and its sportier sibling, the NTorq, have proved to be the most formidable competition to the Honda Activa, the top scooter …
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