Strong Business Performance

We surpassed 4 million two-wheeler sales for the first time and posted a record revenue of ` 31,925 crore. Within India, ICE two-wheeler sales went up by 19%, outpacing the industry’s 13% growth, while the EV two-wheeler sales increased to 101%, vis-à-vis industry growth of 32%, showcasing our capability in leading the shift towards high-tech, energy-efficient, and smart mobility solutions.

Market Outlook

The global two-wheeler market is set for substantial advancement, driven by increasing demand from developing countries seeking innovative mobility solutions. Key factors include, the expanding e-commerce sector, shared micromobility services, and a growing young workforce with rising disposable incomes.

The global automotive industry is transitioning from ICE to EVs due to numerous advantages such as lower Total Cost of Ownership (TCO), advanced technology, operational ease, and reduced environmental impact. Government regulations are accelerating EV adoption. Emerging technologies like artificial intelligence, machine learning, and blockchain are being leveraged to enhance product quality and customer experience.

Focus on Highest Quality

At TVSM, we maintain an unwavering focus on the highest quality across the value chain. Our commitment to top-tier product quality and service is anchored in the philosophy of Total Quality Management. This ensures every vehicle we produce delivers exceptional reliability and performance, significantly enhancing customer trust and satisfaction. Our relentless efforts to develop superior products and solutions stem from a deep understanding of the mobility aspirations of the customer.

This dedication to quality enables us to create products that consistently exceed expectations. TVSM winning 7 out of 10 categories in the J.D. Power 2024 India Two-Wheeler Initial Quality Study (IQS), underscores this commitment. This award is an outcome of direct endorsement of vehicle quality by customers within the first six months of ownership. Further solidifying our position, our products also received top awards in the J.D. Power APEAL Study for being the most 'appealing' in the economy, executive, and premium segments.

Dynamic Leadership

Our remarkable growth in the past few years has been made possible by the dynamic leadership team, headed by Mr. Sudarshan Venu, MD, and Mr. KN Radhakrishnan, Director & CEO, duly supported by our dedicated employees, partners, stakeholders, and shareholders. Under their visionary leadership, we have fostered a passionate, motivated, and aligned team working towards one goal.

In TVSM, women constitute 13% of the overall workforce. This representation extends across all levels, including senior leadership. We are committed to fostering diversity and inclusion, ensuring that women have equal opportunities for growth and advancement within the Company.

We have developed comprehensive, indigenous, end-to-end capabilities spanning the modern mobility value chain. We have created advanced electronic architecture and connected solutions, aimed at elevating the new-age mobility experience. The TVS SmartXonnect, our homegrown connected solution, is now available on multiple products enabling a wide range of customers to experience connected mobility.

We have built a future-ready, diverse, and multi-cultural workforce. Our focus is on leadership development, continuous education, skill building, and integrating new capabilities in software, data analytics, and AI. TVSM has been certified as a ‘Great Place to Work in Manufacturing - Top 50’ in 2023-24.

Building a Sustainable Ecosystem

Our achievements are supported by co-operation partners like BMW Motorrad and various supply chain collaborators. Together, we are creating a sustainable, closed-loop circular ecosystem. This collaboration benefits customers, the community, and the planet. With our new vision, we aim to deliver the highest sustainable value for our stakeholders.

With our focus on providing electric mobility solutions, advanced safety systems and notably with the usage of 93% of our infrastructure energy needs by renewable and clean energy, we commit to driving a positive change towards a sustainable future.

Impacting the Society

The Srinivasan Services Trust (SST), our CSR arm, enhances its impact on rural development. SST transforms attitudes and empowers people through long-term engagement. The goal is to foster collaboration and self-sufficiency, creating positive change in rural India. Partnering with communities, SST drives sustainable development and improves quality of life.

The Road Ahead for India and TVSM

India is making steady progress towards becoming one of the largest economies in the world. With a young, intelligent, thriving workforce with a global outlook, the nation is well-positioned to leverage its advantages.

At TVSM, we are committed to holistic, qualitative, and sustainable growth. We are leveraging this talent pool, coupled with our core values of trust, customer obsession, maximising value, speed, agility, exactness, and a disruptive mindset, to deliver the best.