TVS Motor Company Limited is cautiously optimistic about the business outlook for fiscal year 2022-23, said chairman Ralph Dieter Speth.
Addressing the shareholders of the company at the 30th AGM, he said that the company has registered the highest ever turnover and profit by achieving a milestone of one million in two wheeler sales during FY22.
Going forward, the company feels that it can sustain the momentum given normal monsoon, better consumer sentiment, government spending in infrastructure and the government’s PLI and FAME-II initiatives. However, companies may face adverse conditions due to geopolitical issues, climate change, supply-chain constraints due to semiconductor shortages and a super cycle of rising commodity prices.
Stating that the company had a planned series of launches in FY 2013 for different segments of customers, he said the scooter sales would increase following the demand from students and working women. Sales will increase further with the new premium bike. There was a possibility of seeing an increase in exports.
MD Sudarshan Venu said that they are taking all steps to ensure that their electric two wheelers are completely safe and best in quality.
“Our teams are fully committed to engineering, testing, standards compliance and being best in class. We will leave no stone unturned to ensure that these are achieved across all our products,” he said.
Mr. Venu said that the launch date of TVS Motor-BMW sub-15kw electric two-wheeler will be announced in due course.