The TVS Group’s ownership structure change is expected to give more operational freedom to the current generation of the family to respond faster and better to the dynamic market situation. Family members of this generation who are running the business — ages spanning from late 20s to early 50s — have already made their mark with significant initiatives.
“The current generation in TVS Group is a sensible bunch of people aware of the fortunes they have inherited. All of them are not just educated well but also have a great exposure to the right kind of consulting or industry verticals and hence they bring in decent experience,” observed a management consultant.
What sets this lot apart from other family-owned businesses in India is its willing to tap new opportunities, unfettered by hesitation to change.
Take for instance, Srivats Ram. As Managing Director, he has turned Wheels India Ltd (WIL) into a strong global auto parts player over the past 15 years. From being a predominantly steel wheel-making firm, it has grown to produce aluminium wheels and also diversified into the air suspension business. WIL is now an acknowledged global player in the construction and mining wheels segment and has also become a major supplier of components in non-auto segments over the past 10 years.
Women power
The women are not far behind. Industry doyen Suresh Krishna’s daughters have been playing a larger role in growing Sundram Fasteners over the past decade. Managing Director Arathi Krishna (second daughter of Suresh Krishna) has been driving incremental growth by diversifying into newer areas such as aerospace, defence and electric vehicles, ably supported by her younger sister Arundathi Krishna.
At TVS Motor Company, Chairman Venu Srinivasan’s son Sudarshan Venu is preparing the company for the future. He led the company’s acquisition of the UK’s iconic sports bike brand Norton a few months ago. The move is seen to help TVS Motor address future competition in the higher cc bike market. Daughter Lakshmi Venu is JMD at Sundaram Clayton.
Driven by R Dinesh, TVS Supply Chain has grown into one of the nation’s top integrated logistics solutions providers via acquisitions. Its smooth integration of multiple acquisitions across geographies could have a lesson or two for other Indian business groups. TVS Automobile Solutions, also led by Dinesh, successfully transformed the highly unorganised auto aftermarket, making it tech-savvy.
Companies such as Sundaram-Clayton, Sundaram Brake Linings, Brakes India and Lucas-TVS are among others that are also managed by GenNext.