TVS Holdings Ltd

SundaramClayton Limited (SCL) is part of the 6.5 billion TVS Group, one of the largest automotive and auto components manufacturing and distribution groups in India. The Company is a leading supplier of aluminium die castings to automotive and nonautomotive sector. The Company manufactures nonferrous gravity and pressure die castings. It has 4 manufacturing plants located in Tamil Nadu. It is also the Holding Company for TVS Motor Company Limited which is Indias third largest manufacturer of twowheelers and a flagship of the TVS Group.Incorporated in May 24th, 1962, the Company entered into a licence and technical assistance agreement with Clayton Dewandre Company (CDC), UK, in Jun.81 to manufacture system protection valves. The company also entered into technical assistance agreements with WABCO and Gahreugbremsem, Germany, to manufacture dual brake valves, trailor control valves and handoperated brake valves. It entered into another technical assistance agreement with the Union Switch and Signal Division of American Standard, US, to manufacture signalling relays, point machines and related hardware. To meet the additional demand for scooter project of TVSSuzuki, the company set up a foundry unit at Belagondapalli, Hosur, Tamilnadu with an annual capacity of 1,100.SCL subsidiaries are Harita Stocks Ltd., Anusha Investments Ltd, Auto (India) Engineering Ltd., TVS Investments Ltd., TVS Motor Company Ltd, Sundaram Auto Components Ltd., Tvs Electronics Ltd., and Tvs Finance and Services Ltd.During the year 200405 Auto (India) Engineering Ltd (AIEL), became a wholly owned subsidiary of SCL on 18th November with an authorized capital of Rs. 5 lakhs.Brakes and foundry divisions were certified ISO 14001 accreditation during 200102. The company is planning to develop new technology products like drying and distribution unit, redesigned Type 24*80 spring brake actuator, vaccum brake valve with zero dead stroke and compressor with improved life. The die casting division was certified for TS 16949 during the year 20042005.As part of expansion programme SCL has completed the construction of a new plant at Ambattur and the manufacturing of air brake system was moved to the new plant in the year 200405. The new facility has been built at a cost of Rs.58 crores. This facility combines the strength of the two JV partners viz, the manufacturing capabilities of TVS and the product technology of WABCO to offer the world class braking products at affordable prices to the customers. SHL also installed a new 2500 tonne pressure die casting machine, the only one of its kind in India. In 2007, SundaramClayton spunoff its brakes division as WabcoTVS. In 2009, SundaramClayton established a plant at Mahindra World City (MWC). In 2010, SundaramClayton established a plant at Oragadam near Chennai. On 26 December 2011, SundaramClayton announced that it has made certain changes/modifications to the proposed Scheme of Arrangement including Amalgamation and Demerger among SundaramClayton Limited (SCL), and its wholly owned subsidiaries, namely, Anusha Investments Limited (AIL) and Sundaram Investment Limited (SIL), and their respective shareholders (the Scheme). The Scheme involves amalgamation of AIL with SCL and the demerger of nonautomotive related business to and in favour of SIL comprising all assets, liabilities, duties, rights and obligations relatable to the demerged undertaking namely nonautomotive related business, and retaining automotive related business with the demerged company i.e. SCL. The Institutional Placement Programme (IPP) Committee of directors of SundaramClayton at its meeting held on 8 June 2013 fixed issue price at Rs 297.50 per share. The Institutional Placement Programme (IPP) Committee of directors of SundaramClayton at its meeting held on 9 July 2013 fixed issue price at Rs 293 per share. The Board of Directors of SundaramClayton Limited (SCL) at its meeting held on 4 August 2015 approved inprinciple, an investment of a sum not exceeding USD 8 million in tranches in a diecasting facility proposed to be established in United States (U.S) for catering to the needs of overseas customers, subject to such permissions /consents under Indian and U.S Laws and subject to a detailed Project Report submission for evaluation by the companys Board of Directors.On 9 February 2017, SundaramClayton Limited (SCL) announced plans to invest Rs 400 crore over 3 years to expand its facilities in India. This will increase its capacity from 60,000 MT to 70,000 MT. The planned investment will enable the company to cater to the growth that it expects from the Indian market. The company also announced its plans to set up its first manufacturing facility outside of India with an additional investment of over USD 50 million (Rs 350 crore) to create 10,000 MT of capacity over a period of five years. The facility will be located in the United States, in Dorchester County, South Carolina. Currently, the United States contributes a major share of the companys export revenue. The new plant seeks to deepen SCLs decade long strategic engagement in the region.During year 2022, a Composite Scheme of Amalgamation and Arrangement was filed with NCLT by T V Sundram Iyengar Sons Private Limited, the Holding Company and an Order was pronounced on 6th December 2021 sanctioning the Scheme. Consequent to the Scheme being effective, Sundaram Industries Private Limited and Southern Roadways Private Limited got merged with TVS Sundram Iyengar Sons Private Limited and the equity shares held by T V Sundram Iyengar Sons Private Limited and its subsidiaries viz., Sundaram Industries Private Limited and Southern Roadways Private Limited, in SundaramClayton Limited (SCL) have been vested with TVS Holdings Private Limited effective from 4th February 2022. TVS Holdings Private Limited thus became the holding company effective from that date.