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TVS group company Sundaram Clayton expects a flat growth this year. The company expects the next year to be challenging too. Addressing shareholders at the company’s AGM, Chairman and Managing Director, Venu Srinivasan, said last year was volatile due to the tough economic conditions and the crisis in Eurozone and the US. This year, passenger cars and two-wheeler industries will grow at single digit, while commercial vehicles will decline, he said. On the company’s performance, Srinivasan said new orders will bring in Rs 250 crore revenue in five years. The company had developed 62 products in the last fiscal for OEMs such as Daimler, Volvo and Hyundai. Currently, new products contribute 3.5 per cent to overall sales. This has the potential to grow significantly in the next two years, he said.
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