TVS Srichakra Limited , a prominent Indian automotive tyre manufacturer, has announced its financial results for the first quarter, showcasing significant profit improvements despite a modest increase in revenue.

Revenue Growth

The company reported a consolidated revenue growth of 3.6% year-over-year, reaching Rs 819.41 crores. On a standalone basis, revenue increased by 3.1% to Rs 761.74 crores.

Profit Surge

TVS Srichakra witnessed a remarkable surge in profitability:

• Consolidated profit before tax rose by 69.4% to Rs 19.92 crores
• Net profit after tax surged by 93.2% to Rs 12.83 crores
• Standalone net profit grew by 60.9% to Rs 18.12 crores

Key Financial Metrics

Cost Management

The company's improved profitability can be attributed to effective cost management:

• Raw material costs decreased marginally by 0.1%
• Other expenses fell by 10.4%
• Employee benefit expenses increased by 7.3%
• Finance costs remained stable

Exceptional Items

TVS Srichakra recognized Rs 18.81 crores in grant income under exceptional items. This grant is part of an Investment Promotion Capital Subsidy from the Tamil Nadu government, to be received over 12 years.

Voluntary Retirement Scheme

The company continued its voluntary retirement scheme, allocating Rs 1.25 crores for the quarter.

Investment Promotion Capital Subsidy

TVS Srichakra received an interim eligibility certificate for an Investment Promotion Capital Subsidy from the Tamil Nadu government. This structured package of assistance will be disbursed over 12 years, subject to fulfillment of grant-related conditions.

Conclusion

While specific management commentary was not provided, the financial results reflect TVS Srichakra's ability to enhance profitability despite modest revenue growth, likely through effective cost management and operational efficiencies. As the company continues to navigate the competitive automotive tyre market, its focus on profitability and strategic initiatives, such as the investment promotion subsidy, may position it well for future growth and market challenges.

TVS Srichakra Limited , a prominent player in the Indian tyre industry, has secured shareholder approval for the re-appointment of Ms. Shobhana Ramachandhran as Managing Director. The special resolution, passed through a postal ballot, received an overwhelming 98.48% of votes in favor, demonstrating strong shareholder confidence in the company's leadership.

Re-appointment Details

The re-appointment is for a five-year term, set to commence on August 25, 2025. This decision follows the initial approval by the company's Board of Directors at a meeting held on May 27, 2025. The postal ballot process, which ran from June 17 to July 16, 2025, saw 34,07,339 votes cast in support of the resolution, with only 52,688 votes against it.

Remuneration Framework

Under the terms of the re-appointment, Ms. Ramachandhran's remuneration will be determined by the Board of Directors, based on recommendations from the Nomination Remuneration Committee. The approved remuneration package is subject to a maximum of 5.00% of the company's net profits, calculated in accordance with the applicable provisions of the Companies Act, 2013.

Minimum Remuneration Safeguard

The resolution also includes a provision for minimum remuneration. In the event that the company has no profits or inadequate profits in any financial year during Ms. Ramachandhran's tenure, she will be entitled to receive salary and perquisites up to the maximum limit set out in Part II of Section II of Schedule V of the Companies Act, 2013, or as prescribed by the government.

Shareholder Approval Process

The e-voting process for this resolution was facilitated by the National Securities Depository Limited (NSDL). TVS Srichakra Limited ensured transparency by appointing Mr. N. Balachandran, a Practicing Company Secretary, as the Scrutinizer to oversee the postal ballot process.

Corporate Governance

This re-appointment aligns with TVS Srichakra's commitment to corporate governance and regulatory compliance. The company has adhered to the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in conducting this postal ballot and securing shareholder approval.

The strong support for Ms. Ramachandhran's re-appointment reflects shareholder confidence in her leadership and the company's strategic direction. As TVS Srichakra moves forward, this vote of confidence sets a positive tone for the company's future growth and performance in the competitive tyre industry.