Latest news with #KNRadhakrishnan
Time of India
01-08-2025
- Automotive
- Time of India
TVS Motor explores alternative sourcing to tide over rare-earth magnet crisis
TVS Motor Company is actively exploring alternative sourcing options to mitigate short and long-term disruptions caused by the rare-earth magnet (REM) crisis. The company's top management said during the Q1 FY26 post earnings call that it was able to sustain daily production of its electric vehicles despite supply chain constraints triggered by China's export restrictions on REMs. Director and CEO of TVS Motor, K N Radhakrishnan , said the company was evaluating options beyond China to secure a stable supply of rare earth magnets. 'We are actively working on heavy rare earth element-based solutions and exploring sourcing from alternative countries to reduce dependency,' he said. TVS Motor is also relying on existing inventory to tide over the crisis. 'Some developments are in progress. I may not be able to give an exact timeline, but we are looking at other countries apart from China for sourcing,' Radhakrishnan added. The company recently announced plans to launch electric motorcycles and bicycles this year. While the projects remain on track, it is yet to finalise a launch timeline given the raw material supply scenario. The rare earth shortage has already begun to impact other players like Bajaj Auto which has cautioned a grim August due to inventory depletion. 'Our component inventory saw us through until June but we are down by half in terms of production this month and am afraid we are looking at a zero month in August,' Bajaj Auto MD, Rajiv Bajaj, told The Economic Times. For the two-wheeler industry, which has been leading the EV adoption wave, a prolonged shortage could derail production momentum and slow industry growth. Carmakers like Hyundai, Maruti Suzuki, and Mahindra & Mahindra have reported no immediate disruptions due to the REM crunch. Norton's India plans TVS Motor plans to bring the iconic Norton brand with plans to launch multiple motorcycles in FY26, the first set of offerings since it acquired the British brand in 2020. 'India is a key market for Norton,' Radhakrishnan said, adding that the company would also launch the brand in the UK and other key European markets. In India, TVS will adopt a premium distribution strategy and invest significantly in brand marketing. Of the INR 2,000 crore investments earmarked for this fiscal, a large part will go towards EV development, Norton's relaunch, digital initiatives, and global expansion. Export momentum, domestic outlook TVS reported its highest-ever quarterly exports at 3.52 lakh units, led by a strong rebound in Africa. The company remains optimistic about recovery in other key markets such as Sri Lanka and Nepal, although challenges persist in Bangladesh. On the domestic front, it expects a positive demand trend, supported by a favourable monsoon and a likely recovery in rural markets. Additionally, improved retail financing is anticipated on the back of a 100-basis point reduction in bank lending rates over the last six months.
Time of India
31-07-2025
- Automotive
- Time of India
TVS Motor to position Norton range of motorcycles as 'super premium'; to launch in Europe: CEO
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Two and three wheeler major TVS Motor Company would be launching multiple products under its Norton brand in the first quarter of next financial year in Europe, a top official said on company would be positioning the motorcycles under the 'super premium' category and has drawn up a clear strategy for the launch, TVS Motor Company Director and Chief Executive Officer K N Radhakrishnan said."On Norton, all of you know that end of this financial year, we will be launching multiple products. They will be available in the first quarter of next year in many markets in Europe. This is as per the plan", he told analysts in an earnings call. TVS Motor had acquired UK's iconic motorcycle brand Norton in 2020."The upcoming range of motorcycles (under the Norton brand) will significantly be more accessible and we are looking at Super Premium positioning. This is a very clear strategy which we have been highlighting to all of you." he indicated that the company would build a 'retail strategy' to sell the Norton motorcycles in India apart from Europe, and added that more details would be shared closer to the launch of the motorcycles. Currently, TVS Motor retails scooters under the Jupiter brand, motorcycles under 'Apache' and three-wheelers under 'TVS King' brand in India and has over 900 dealerships."Norton will unveil next generation super bikes this year. In the last quarter of this financial year, you will see more models to be unveiled," he on the sales in domestic market, he observed that the reduction in benchmark repo rates by the Reserve Bank would definitely translate into better retail financing to consumers that would aid in the sales of electric vehicle business , he said, "We promised and it should be ready in the next quarter for launch. It includes a three-wheeler and a two-wheeler electric vehicles."TVS Motor retails popular electric scooter TVS iQube in the market. The sales of electric scooters for the quarter ending June 30, 2025 grew by 35 per cent to 70,000 units, he to a query, Radhakrishnan said the company has earmarked about Rs 1,600 crore - Rs 1,650 crore as capital expenditure during the current financial international business, he said the company would focus more on increasing its market share in Latin American market as it sees a 'good opportunity' to grow."LATAM is continuously growing. There is a good opportunity in this market. Because, our share in this market is much, much lower. Our focus is going to be in the LATAM market to build it to much higher level. With the product range, we are confident that in LATAM we will continue to be ahead of the industry this year." he said the company witnessed good sales in Sri Lanka and Nepal and expressed confidence while there are some challenges in Bangladesh, that market would improve."Overall, in both domestic and international markets with the range of products we will continue to do better than the industry. With such a robust base in Q1, Q2 is poised for strong growth," he Motor on Thursday reported a 32 per cent jump in its consolidated net profit to Rs 610 crore for the April-June 2025 quarter up from Rs 461 crore registered in the corresponding quarter of last financial income of the company increased to Rs 12,250 crore during the quarter under review as against Rs 10,355 crore recorded in the year-ago period.
Business Recorder
31-07-2025
- Automotive
- Business Recorder
India's TVS Motor beats quarterly profit view, seeks rare-earth alternatives
TVS Motor, India's top electric two-wheeler maker by sales, beat quarterly profit estimates on Thursday on strong local sales and exports, and said it plans to seek alternative sources for rare-earth magnets in light of China's export ban. The company, which also makes three-wheelers, had earlier flagged short- to medium-term challenges in securing magnets, which are key for electric motors and components. China, which produces about 90% of the world's rare earth magnets, imposed export curbs in April. While some shipments to the U.S. and Europe have resumed, Indian firms are still awaiting Beijing's nod. TVS is looking at 'HRA-free, cerite-based, magnet-free' alternatives - which do not include heavy rare earth elements - and also at alternate countries, chief executive officer K N Radhakrishnan said in a post earnings conference call. On Wednesday automakers Mahindra and Mahindra and Hyundai India shrugged off medium-term issues from the export ban, with Mahindra saying it was using alternatives such as light rare-earths and ferrites. TVS Motor's overall two-wheeler sales rose 17% to about 1.2 million units in the quarter ending June 30, fuelled by a rising share of premium models, such as the Apache series, which account for roughly 25% of total revenues. Its electric vehicle sales surged 35% in the June quarter, while exports, which make up nearly a fourth of the company's overall revenue, grew 39%. The Jupiter scooter maker's profit jumped 34.9% from a year earlier to 7.79 billion rupees ($88.92 million) in the June quarter, beating analysts' estimate of 7.63 billion rupees, per data compiled by LSEG. Revenue from operations rose 20.4% to 100.81 billion rupees, above analysts' estimate of 99.36 billion rupees. Analysts said TVS is moving to a 'richer product mix,' where high-margin offerings like high engine capacity bikes and scooters are gaining traction over entry-level models. This shift helped push its core earnings higher, with operating EBITDA margin expanding to 12.5% in the first quarter, up from 11.5% a year earlier.
Time of India
12-05-2025
- Business
- Time of India
Stocks in news: Tata Steel, Swiggy, Dr Reddy's, Cyient DLM, Thermax, Adani Power
Following a period of consolidation, Indian equity benchmarks experienced a sharp correction last week. In today's trade, shares of Tata Steel , Swiggy , Dr Reddy's Cyient DLM, Thermax , Adani Power among others will be in focus due to various news developments and fourth quarter results today. Tata Steel, UPL, SRF Shares of Tata Steel , UPL and SRF will be in focus as the companies will announce their fourth quarter results today. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Modern and Economic Container Houses in the Philippines: 2025 Prices and Models LocalPlan Learn More Undo Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Dr Reddy's Dr Reddy's Laboratories reported a consolidated net profit growth of 22% to Rs 1,594 crore in Q4FY25 versus Rs 1,307 crore reported in the year ago period. Swiggy Food delivery company Swiggy has reported nearly doubling of its losses in the fourth quarter to Rs 1081 crore, compared with Rs 554 crore in the same quarter of last year. Canara Bank Live Events Faced with challenges on deposit growth, state-owned Canara Bank asked each of its 82,000-strong staff to go out to garner funds, and mobilised Rs 16,700 crore in ten weeks. TVS Motor The domestic two-wheeler industry is expected to sustain growth momentum this fiscal, aided by income tax relief, enhanced spending on infrastructure and expectations of a normal monsoon, TVS Motor Company CEO KN Radhakrishnan has said. Adani Power Adani Power said it has secured a contract to supply 1,500 MW of thermal power to Uttar Pradesh at a levelised tariff of Rs 5.383 per unit, emerging as the lowest bidder in a competitive tender process. Raymond Lifestyle Raymond Lifestyle said Sameer Shah resigned as the Chief Financial Officer of the company due to personal reasons with effect from July 31. Thermax Energy and environment solutions provider Thermax reported an 8.1% YoY increase in its fourth quarter net profit at Rs 206 crore, up from Rs 190.33 crore in Q4FY24. Cyient DLM Cyient DLM said Anthony Montalbano has resigned as Chief Executive Officer (CEO) of the company with effect from May 8.
Economic Times
12-05-2025
- Business
- Economic Times
Stocks in news: Tata Steel, Swiggy, Dr Reddy's, Cyient DLM, Thermax, Adani Power
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Following a period of consolidation, Indian equity benchmarks experienced a sharp correction last week. In today's trade, shares of Tata Steel Dr Reddy's Cyient DLM, Thermax Adani Power among others will be in focus due to various news developments and fourth quarter results of Tata Steel , UPL and SRF will be in focus as the companies will announce their fourth quarter results today. Dr Reddy's Laboratories reported a consolidated net profit growth of 22% to Rs 1,594 crore in Q4FY25 versus Rs 1,307 crore reported in the year ago delivery company Swiggy has reported nearly doubling of its losses in the fourth quarter to Rs 1081 crore, compared with Rs 554 crore in the same quarter of last with challenges on deposit growth, state-owned Canara Bank asked each of its 82,000-strong staff to go out to garner funds, and mobilised Rs 16,700 crore in ten domestic two-wheeler industry is expected to sustain growth momentum this fiscal, aided by income tax relief, enhanced spending on infrastructure and expectations of a normal monsoon, TVS Motor Company CEO KN Radhakrishnan has Power said it has secured a contract to supply 1,500 MW of thermal power to Uttar Pradesh at a levelised tariff of Rs 5.383 per unit, emerging as the lowest bidder in a competitive tender Lifestyle said Sameer Shah resigned as the Chief Financial Officer of the company due to personal reasons with effect from July and environment solutions provider Thermax reported an 8.1% YoY increase in its fourth quarter net profit at Rs 206 crore, up from Rs 190.33 crore in DLM said Anthony Montalbano has resigned as Chief Executive Officer (CEO) of the company with effect from May 8.
