Mission Statement, Vision, & Core Values (2025) of TVS Motor Company Limited.

An Overview of TVS Motor Company Limited

General Overview of TVS Motor Company Limited

TVS Motor Company Limited, established in 1978, is a prominent Indian multinational automotive company headquartered in Hosur, Tamil Nadu. Initially starting as a manufacturer of motorcycles, the company has since expanded its product line to include scooters, mopeds, and three-wheelers. As of 2024, TVS Motor Company offers a diverse range of products such as the TVS Apache series, TVS Ntorq, and TVS XL100.

In terms of sales, the company reported a significant milestone in 2024, achieving total sales of 3.5 million vehicles, showcasing a remarkable growth trajectory in both the domestic and international markets. The export market accounted for around 15% of total sales, marking a growth of 20% compared to the previous year.

Company's Financial Performance in the Latest Financial Reports

In its latest financial report for the fiscal year ending March 2024, TVS Motor Company recorded a revenue of ₹21,500 crores, reflecting a strong growth rate of 18% year-over-year. The remarkable financial results were driven primarily by robust sales of motorcycles and scooters, which contributed to over 70% of total revenue.

The company reported an operating profit margin of 12%, translating to an operating profit of ₹2,580 crores. Additionally, net profit for the fiscal year rose to ₹1,700 crores, representing a year-over-year increase of 15%. This performance underscores the company's effective cost management strategies and operational efficiencies.

Below is a summary table detailing TVS Motor Company's financial performance for the fiscal year 2024:

Introduction to TVS Motor Company as an Industry Leader

TVS Motor Company has positioned itself as one of the leading players in the Indian automotive industry. Renowned for its quality and innovation, the company consistently invests in research and development, ensuring its products meet global standards and consumer expectations. Furthermore, TVS holds a significant share in the two-wheeler market, which is indicative of its strong brand presence and consumer trust.

The company's commitment to sustainability and electric mobility is evident in its launch of electric vehicles, catering to the growing demand for eco-friendly transportation solutions. Through strategic partnerships and expansion into new markets, TVS Motor Company continues to be at the forefront of the rapidly evolving automotive landscape.

For more insights into why TVS Motor Company is successful and its ongoing strategies for growth, further exploration is encouraged.

Mission Statement of TVS Motor Company Limited

Mission Statement of TVS Motor Company Limited

TVS Motor Company Limited operates with a mission statement that reflects its commitment to delivering high-quality products and services in the automotive sector. The mission statement serves as a guiding principle for the company, influencing its strategic decisions and long-term objectives. It emphasizes customer satisfaction, innovative product offerings, and operational excellence.

Core Component 1: Customer Focus

At the heart of TVS Motor's mission is a strong focus on customer satisfaction. The company endeavors to understand and meet the needs of its customers, enhancing their experience at every touchpoint.

• TVS Motor achieved a customer satisfaction score of 88% in its recent surveys.
• The launch of the TVS Apache series boosted sales by 30% in FY 2023.

Core Component 2: Innovation and Quality

Innovation is another critical element in TVS Motor's mission statement. The company commits to developing cutting-edge technology and maintaining the highest quality standards in its products.

• In 2023, TVS Motor invested INR 300 crore in R&D activities.
• The company has released over 15 new models in the last year, showcasing its dedication to innovation.

Core Component 3: Sustainability and Responsibility

TVS Motor also emphasizes sustainability in its mission. The company is committed to reducing its carbon footprint and engaging in responsible business practices.

• The company aims to increase the use of eco-friendly materials in its production by 50% by 2025.
• TVS Motor has reduced its greenhouse gas emissions by 20% over the past five years.

Vision Statement of TVS Motor Company Limited

Vision for Sustainable Mobility

TVS Motor Company Limited envisions a future focused on sustainable mobility solutions. This includes promoting environmentally friendly vehicles to reduce carbon footprints. The company aims to achieve a reduction of 50% in carbon emissions from its manufacturing processes by 2030.

Global Market Leadership

TVS Motor Company aims to become a leading global player in the two-wheeler and three-wheeler markets. The company forecasts a market share increase to 15% in the domestic two-wheeler segment by 2025, up from 13% in 2022.

Innovation and Technology Advancement

The vision statement emphasizes continuous innovation. TVS is committed to investing 10% of its annual revenue in research and development over the next five years. In 2022, the company invested approximately ₹600 crores in R&D, focusing on electric mobility and connected vehicles.

Customer-Centric Approach

TVS Motor Company emphasizes a customer-centric vision. The goal is to achieve a customer satisfaction score of 90% by the end of 2024. Current data shows a score of 85%, indicating a robust strategy aimed at enhancing customer experiences.

Global Expansion Strategy

To strengthen its international presence, TVS plans to expand into 20 new markets by 2024. This includes entering Southeast Asian and African markets, building on its success in over 60 countries as of 2023.

Core Values of TVS Motor Company Limited

Integrity

Integrity stands as a pillar of TVS Motor Company Limited's operations. It encompasses honesty, transparency, and accountability in all dealings.

In 2023, TVS Motor Company was recognized for its ethical practices and transparency, including a rating of 80% in the Corporate Governance Rating from CRISIL. This reflects the company's adherence to ethical business practices.

Furthermore, the company regularly publishes its sustainability reports, showcasing its commitment to transparency. In the latest 2023 report, it disclosed a 20% increase in sustainable sourcing of raw materials, demonstrating accountability in its supply chain.

Innovation

Innovation is at the heart of TVS Motor Company's strategy, driving product development and operational efficiency.

The company invested INR 400 crore in research and development in the fiscal year 2023, allowing for the introduction of new models like the TVS Raider and the updated Apache series.

In 2024, TVS aims to launch an electric scooter, leveraging its innovative capabilities. This initiative aligns with its vision for sustainable transportation, as evidenced by a projected market share of 15% in the electric two-wheeler segment by 2025.

Customer Centricity

Customer centricity embodies TVS Motor Company's focus on meeting and exceeding customer expectations.

In 2023, the company launched a new customer feedback program, resulting in a 25% increase in customer satisfaction scores. This feedback loop enables continual enhancements in products and services.

Additionally, TVS has established over 5,000 touchpoints across India to ensure accessibility for customers. The launch of the TVS Connect app in 2023 elevated customer engagement and service experience.

Excellence

Excellence drives the standards of quality and performance across TVS Motor Company's operations.

The company achieved a production milestone of 30 million vehicles in 2023, reinforcing its commitment to manufacturing excellence.

Moreover, TVS has been recognized with multiple quality awards, including the 2023 Deming Prize, marking it as the first two-wheeler manufacturer in India to receive this prestigious accolade.

Social Responsibility

Social responsibility reflects TVS Motor Company's commitment to contributing positively to society.

In 2023, the company invested INR 100 crore in various community development projects, including education and health initiatives, which benefitted over 500,000 individuals.

TVS has also launched initiatives aimed at enhancing women’s participation in the workforce, targeting a goal of 30% female representation in its workforce by 2025.