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Regular-article-logo Monday, 11 August 2025

TVS DROPS SUZUKI SUFFIX 

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FROM OUR CORRESPONDENT Published 11.10.01, 12:00 AM
New Delhi, Oct. 11 :    New Delhi, Oct. 11:  The marriage with Suzuki now officially over, the board of directors of TVS-Suzuki Ltd today decided to rechristen the troubled two-wheeler maker as TVS Motor Co Ltd In a deal valued at Rs 90 crore, the Japanese automaker had agreed to sell its 60,00,000 shares with a face value of Rs 10 each to Sundaram Clayton Ltd (SCL) or its associates, through whom the TVS Group holds a 32.47 per cent stake. The company reported dismal figures for the second quarter ended September 30, with net profit down almost 50 per cent at Rs 10.39 crore from the level of Rs 20.24 crore in the year-ago period. Sales also fell in the July-September quarter to Rs 428.25 crore from Rs 460.12 crore in the same period last year. Staff costs rose from Rs 15.94 crore in the second quarter last year to Rs 18.56 crore this year. Earnings per share also went down 50 per cent from Rs 8.76 to Rs 4.50. Suzuki Motors initially had a technical and financial partnership with TVS till the year 2007 for motorcycles. Under the terms of the deal, TVS will use the brand name TVS-Suzuki for 30 months from now and Suzuki will not be able to enter the country's two-wheeler market during that period. It will also continue to source technology and variants for the Fiero from Suzuki till that time. TVS-Suzuki at present has a 13.5 per cent market share in the motorcycle segment, with a 17.2 per cent share in scooters and 56.2 per cent in mopeds.    
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