TVS Supply Chain Solutions

TVS Supply Chain Solutions
FormerlyTVS Logistics Services Limited
Company typePublic
ISININE395N01027
IndustryLogistics
Founded1995; 29 years ago (1995)
HeadquartersChennai, Tamil Nadu, India
Key people
  • Ramachandran Dinesh (MD)[1]
  • S. Ravichandran (Deputy MD)[2]
ServicesSupply chain management
RevenueIncrease ₹10,235 crore (US$1.2 billion) (FY23)[3]
Increase ₹706 crore (US$85 million) (FY23)[3]
Increase ₹42 crore (US$5.0 million) (FY23)[3]
Number of employees
18,000
ParentTVS Group[4]
Websitetvsscs.com

TVS Supply Chain Solutions (TVS SCS) is an Indian multinational transportation, logistics and warehousing company. It provides supply chain management services to customers in the automotive, consumer goods, defence and utility sectors in India, the United Kingdom, Europe and the US. It is part of the TVS Group of companies.

TVS's major UK customers include Isuzu, Daimler Trucks and Dennis Eagle in the automotive sector; the Ministry of Defence in the defence sector; and Network Rail, Electricity North West and United Utilities in the utility sector.

History

The company began in 1995 as TVS Logistics, a division of TVS & Sons, before being hived off as a separate company in 2004 as TVS Logistics Services Ltd. (TVS LSL). In 2004 it bought out the UK based CJ Components – an automotive component sourcing company. The company pursued further acquisitions across Europe, the UK, the USA, Singapore and Australia.

In 2009, TVS LSL acquired Multipart Holding,[5] which is among the top three after market logistics companies in UK.[6] With the Multipart acquisition, TVS LSL formed a European subsidiary, TVS Supply Chain Solutions (TVS SCS) from JC and Multipart. This was followed in 2012 by the acquisition of same day courier and IT support and logistics firm Rico Logistics for ₹100 crore (£11.81 million). Rico operated as a subsidiary of TVS SCS[7] and was renamed TVS SCS Rico in 2017.[8]

TVS Logistics was then renamed to TVS Supply Chain Solutions[9] in 2019.

In 2020, Mitsubishi Corp invested in TVS Supply Chain Solutions for minority stake.[10]

In August 2023, the company launched its initial public offering and got listed on the Indian stock exchanges.[3]

References

  1. ^ "India can emerge as a key regional parts sourcing hub: R Dinesh, TVS SCS". The Hindu Business Line. Dec 17, 2020. Archived from the original on January 25, 2021. Retrieved February 18, 2022.
  2. ^ "Roca Parryware strengthens tie-up with TVS Supply Chain Solutions". Business Standard. Archived from the original on 2021-01-10. Retrieved 2022-02-18.
  3. ^ a b c d "TVS Supply Chain Solutions IPO price band fixed at ₹187-197 a share". The Hindu. 7 August 2023. Retrieved 23 August 2023.
  4. ^ "TVS Supply Chain Solutions plans IPO in the current quarter". 9 January 2023.
  5. ^ "TVS-LSL acquires Multipart Holding". The Hindu Business Line. Nov 11, 2009.
  6. ^ "TVS Logistics acquires UK's Multipart Holding". The Economic Times. Nov 11, 2009.
  7. ^ Sushma, U N (Feb 21, 2013). "TVS Logistics acquires UK-based Rico Logistics". Times of India. Archived from the original on Jan 6, 2016. Retrieved Feb 18, 2022.
  8. ^ Allen, Julian; Piecyk, Maja; Piotrowska, Marzena (Nov 2018). An Analysis of the Same-Day Delivery Market and Operations in the UK (PDF) (Report). University of Westminster. Archived (PDF) from the original on Feb 18, 2022. Retrieved Feb 18, 2022.
  9. ^ "The buyout firm will purchase new shares as well as those held by existing shareholders in TVS Supply Chain". BloombergQuint.
  10. ^ "Mitsubishi Corp invests in TVS Supply Chain Solutions for minority stake". Mint. Nov 11, 2020.

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