Chennai: TVS Tyres today announced an investment of around 1,515 In order to increase the capacity of its two plants in Tamil Nadu and Uttarakhand, the Rs. 100 crore target is to add more tires to its production line by December 2015 year. The number of tires is 3 million.

P Vijayaraghavan, Director, TVS Tyres, told reporters that the production at the Madurai (Tamil Nadu) and Rudrapur (Uttarakhand) plants will be increased to 2.3 lakh units from 2 lakh units per month.

“2014-15 During this period, we have increased our production from 1.7 lakh units per month starting from 1.7 lakh units to 2.0 lakh units per month. Currently, we have invested around 155 sets. crore in capital expenditure to increase the total capacity to 23 million sets per month by 2015 year 12. of tires. It has been increased to 1 million.” Said.

Both internal funds and loans will be the source of capital expenditure, he said.

Commenting on the company’s audited financial results for the year 2014-15, he said that revenues, EBIDTA and profits are growing.

In 2014-15, revenues grew by 13% over 2013-14 to Rs. 18,959.9 EBIDTA of Rs. 1 crore over the same period grew by 72% to Rs. 20,562 crore.

The company said profit after tax (PAT) more than doubled to 103,799 in 2014-15 Last year’s lakhs were Rs 47.45 lakhs.

Rational utilization of inventory, high growth in aftermarket, reduction in cost of materials, reduction in prices of key raw materials, reduction in fuel and power prices and increase in cash production led to low margins and helped the company to achieve “fast profitability, fast profitability. “This has helped show growth,” Vijayaraghavan said.

Responding to a question, he said that the company has entered into the tractor radial export business, which is expected to be launched in the next 12-18 months.

He said that the off-road tire division plans to manufacture tires for soil handling vehicles.

He also said that the company is a “leader” in the two-and three-wheeler segment, but has no plans to enter the four-wheeler segment.