TVS Logistics targets $1 billion revenue in India by FY 21
September 01, 2017: TVS Logistics Services Ltd (TVS LSL) has announced its aggressive growth plans for the Indian market for the next three years. The company informed that it has devised multiple strategies that include a new organisational structure, global integration, cross deployment, leveraging GST opportunities, etc. towards achieving its growth in India.
September 01, 2017: TVS Logistics Services Ltd (TVS LSL) has announced its aggressive growth plans for the Indian market for the next three years. The company informed that it has devised multiple strategies that include a new organisational structure, global integration, cross deployment, leveraging GST opportunities, etc. towards achieving its growth in India. The company informed in a press release that R Shankar has been given the responsibility to lead the overall India business for achieving its $ 1 billion revenue target by FY 2021. R Shankar was earlier managing select business operations in India.
R Dinesh, managing director, TVS Logistics Services, said, “With our global revenue already crossing $1 billion, we are now setting our focus firmly on India operations to achieve this ambitious target. Our India business, especially post acquisition of DIESL, has been growing above 30 percent CAGR over the last five years and we look to improve this growth further in the next three years to reach the target of $ 1 billion revenue in India. As part of the India growth strategy, I am happy to announce R Shankar as the CEO of our overall India operations. The new India structure would leverage our global expertise and help us serve our customers better.”
S Ravichandran, deputy managing director, TVS Logistics Services, said, “Implementing matrix structure and solutions acquired globally will enable TVS LSL to offer best-in-class solutions to MNC clients in India as also to other Indian clients.”
R Shankar, CEO, TVS Logistics Services, said, “We are fully geared up for this ambitious growth target. We will continue to differentiate and bring in operational synergies to provide end-to-end solutions for our customers and value-added services in India.”
Sanjive Sharma, Global CEO, Rico Logistics, said, “Our capabilities are unique. We have integrated and converted the aftermarket spare parts (non-auto) into a solution mode globally. We see this as a huge growth opportunity both with global customers in India and Indian customers globally.”
R Shankar will continue to report to S Ravichandran, who has been elevated as deputy managing director. In addition to the existing business enabling functions like Finance, IT and HR, TVS LSL has created a new role of integrated business heads for the four major regions in India who will also be subject matter experts for key sectors like automobile, technology and engineering. With India taking a lead in adopting this strategy, the company would look to standardize this template for a global rollout in a phased manner.
TVS LSL has formed four Centre of Excellence (COE) across the Globe viz., the UK, the USA, Singapore and in India. The COE in the UK will focus on contract logistics, the USA centre will work on production and inbound supply chain, the COE in Singapore will focus on freight forwarding and the one in India will concentrate on global technology. The India centre was created in April this year and is based out of Madurai. The centre will aim to build new age apps and solutions, using Indian ingenuity with Global know-how, for ‘track & trace’ to provide intelligent communications to clients. Dinesh Narayanan, who is heading the Global IT at TVS Logistics will also lead the Global Centre of Excellence initiative.
Photo Caption: R Dinesh, managing director, TVS Logistics Services