Calcutta, Nov. 17: TVS Motor Company (TVS) hopes to clock a turnover of over Rs 4,500 crore by the end of next fiscal. To achieve this, the company plans to ramp up its overall capacity and also launch models.
The company is poised to finish this fiscal with a turnover of Rs 3,100 crore against a turnover of Rs 2,700 crore last year, said vice-president (marketing) Harish K.
The company is setting up two plants for two and three-wheelers, one in Mysore and the other in a south-east Asian country.
“We have completed market surveys in Thailand, Vietnam and Indonesia to set up our first plant abroad. The company board will meet in January to decide on the country,” said Cecil Dewars, vice-president, TVS.
The company plans to invest Rs 250 crore initially in the foreign unit. For the new Mysore plant, TVS will invest Rs 500 crore.
Harish said the company has set a volume target of at least 1.2-million motor bikes in the next one year, for which it is revving up its marketing network and also upgrading the existing models.
A new model — Centra — is going to hit the roads within the next four weeks. Victor, the largest selling motorbike, will be re-launched before the end of current fiscal after a thorough overhaul.
TVS has also set a target to double its export turnover during the current fiscal by crossing the one-lakh unit mark. The company’s exports are mostly to Asian and African countries.
TVS has two plants, one in Hosur and the other in Mysore.