TVS Srichakra Ltd

Event and product launch

• Eurogrip showcases PROTORQ RACING, new slick tyre range, at PETRONAS TVS India One Make Championship 2026.

Technical partnership history

• TVS Srichakra has served as technical partner for eight consecutive years.

Product specifications

• PROTORQ RACING designed for sharp lean angles with racing-specific carcass and high-grip slick tread.

Event timing and format

• 2026 edition began 14 August 2026, with five phases across leagues.

Capacity and manufacturing

• Production capacity stated at over 3 million tyres per month.

Financial results and regulatory disclosures

• Unaudited standalone Q1 FY2026 results approved; revenue 997.36 cr; PAT 29.22 cr; EPS 38.15.
• Unaudited consolidated Q1 FY2026 results approved; revenue 1,067.61 cr; PAT 34.02 cr; EPS 44.43.
• Limited Review by PKF Sridhar & Santhanam LLP on standalone and consolidated results.
• Tariff refund receivable Rs 7.21 cr recognised in quarter under IEEPA.
• Labour Codes: past-service cost recognised; Rs 10.61 cr (previous year) / Rs 11.09 cr (group).
• SIPCOT grants recognised; Rs 18.81 cr (standalone) and Rs 0.08 cr (2024-25) noted.
• PKF review concluded no material misstatement in results.

Target and deal details

• Target: Weber Drivetrain Private Limited, EV motors and controllers manufacturer based in Pune, India.
• 51% equity stake acquired for cash via a Share Purchase Agreement.
• Consideration: Rs 1.43 crore.
• Deal timeline: completion within 6 months from 19 July 2026.
• Acquisition is not related party; no promoter/group interest.
• Regulatory approvals: None required.
• Industry: Auto ancillary; EV electronics.
• Purpose: Electronics capability building.
• Background: Pune-based Weber, incorporated Jan 5, 2022; FY26 turnover Rs 14.17 crore.
• FY25 turnover Rs 11.65 crore; FY24 Rs 13.48 crore.
• Authorized capital Rs 15 lakh; paid-up Rs 1 lakh.
• Target product scope: electric motors and controllers for EVs.

• Dematerialisation requests received were processed and confirmed to depositories; dematerialised securities listed on stock exchanges.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification; depository name substituted as registered owner.

Retail expansion

• TVS Srichakra opened a new Eurogrip exclusive retail store in Bahraich, Uttar Pradesh.
• The outlet is the brand’s 15th signature store in India.

Business development

• The store expands Eurogrip’s branded retail footprint in key Indian markets.
• It offers tyres, tubes, fitment, puncture repair, air checks, and warranty support.

Operational footprint

• Eurogrip now has retail experience stores in multiple cities, including Chennai, Mysuru, Patna, and Hyderabad.