TVS Electronics, with a rich legacy of over 37 years, has evolved into a stalwart in the Indian electronics industry. Founded in 1986 by the visionary Gopal Srinivasan, the company has positioned itself as an integrated end-to-end electronics solutions provider.
In an interaction with Indian Retailer, C Balaji, Vice President – PSG Business, TVS Electronics Limited tells about the journey of TVS Electronics, exploring key milestones, growth factors, innovative strategies, product and service portfolio, market presence, 'Make in India' focus, and future expansion plans.
Over the years, the brand has grown to become one of India's longest-standing electronics manufacturers. The company's commitment to a growth mindset, operational agility, and adherence to core values has been instrumental in its sustained success.
The Comprehensive Retail Solutions (CORE) platform, launched by TVS Electronics, stands out as a pivotal offering, providing integrated solutions for industries such as retail, shipping & logistics, banking, and government establishments. The product range includes touch POS systems, thermal printers, barcode scanners, label printers, cash counting machines, mobile printers, and more.
The company has also made significant strides in IT peripherals, featuring membrane and mechanical keyboards. TVS-E's commitment to innovation is underscored by the establishment of an industry 4.0 facility in Tumakuru, showcasing its prowess in electronic manufacturing services.
“In the realm of Field Support Services, we have emerged as a leading player, offering warranty solutions to Global OEMs and IT infra-managed services for medium to large-scale organizations. The extensive service network spans 427 Indian districts, supported by walk-in service centers, offices, warehouses, and a dedicated team of over 5,000 professionals,” said Balaji.
TVS Electronics has consistently embraced innovative strategies to navigate the dynamic landscape of the electronics industry. In the 1990s, recognizing the potential growth for Dot Matrix printers and mechanical keyboards, the company positioned these solutions as industry-preferred choices. The introduction of the Retail Billing machine equipped with analytics and inventory management solutions exemplifies the company's commitment to bringing innovative technology to the forefront.
The Electronic Cash Register, designed to streamline billing operations for small retail establishments, is another example of TVS-E's innovative approach. The company has also ventured into digital platforms, such as the ServiceTec Digital Platform, transforming internal processes and facilitating dynamic engagement within the corporate ecosystem.
In the product realm, TVS-E's Comprehensive Retail Solutions (CORE) platform has expanded to include a wide range of hardware solutions tailored to various industries. Collaborations with leading retail software providers like Royal POS, Snapbizz, and Queue Buster showcase its adaptability to customer requirements.
TVS Electronics boasts a diverse product and service portfolio, evolving over the years to meet market demands. The company operates under two main business verticals: Customer Support Services (CSS) and Products & Solutions Group (PSG).
Under PSG, TVS-E offers a comprehensive range of technological solutions, including Dot Matrix Printers, Mechanical Keyboards, Mouse, Thermal Printers, Label Printers, Barcode Scanners, Electronic Cash Registers, and Currency Counting Machines.
The CSS vertical focuses on Field Support Services, offering warranty management services, IT infra-managed services, call center services, repair management, and e-waste management services.
“We have expanded our services to include solar panel installation and maintenance, contributing to the adoption of electric vehicles by installing EV charging stations and offering battery swap solutions,” he stated.
The company’s distribution network spans 427 Indian districts, with walk-in service centers, collection points, offices, and warehouses strategically placed to provide comprehensive coverage. The distribution network includes 25 System Integrators, 140 distribution partners, and 4000 resellers.
“We are actively pursuing strategic partnerships with e-tailers and retailers to enhance our footprint nationwide. The online presence on major marketplaces and the exclusive e-commerce store further extends the reach of our products,” Balaji noted.
TVS Electronics places a strong emphasis on indigenous product development, aligning with the 'Make in India' vision. The manufacturing plant in Tumakuru, Karnataka, equipped with industry 4.0 capabilities, is a testament to the commitment to local product development. The facility focuses on mid-volume, high-mix products, contributing to job creation and attracting component suppliers and vendors.
“The 'Make in India' focus is evident in our aim to achieve over 80 percent value addition in India for all products. This strategic approach positions us to become a preferred supplier for both government establishments and private enterprises,” he highlighted.
TVS Electronics has a significant online presence, with a dedicated e-commerce store and participation in major online marketplaces. The company's online business is expected to contribute between 10-15 percent of the total topline revenue, showcasing the growing relevance of digital channels.
The hyper-local digital marketing approach and e-commerce strategy cater specifically to online customers. TVS-E aims to leverage the online platform to enhance its overall sales and customer reach, reflecting the changing dynamics of consumer preferences.
In the previous fiscal year, TVS Electronics achieved a revenue of Rs 450 crore, demonstrating strong market traction. “Our target for the current year is to achieve a revenue growth of around 30 percent, capitalizing on opportunities within the sector,” asserted Balaji.
The company has witnessed significant contributions from different regions, with South India consistently contributing 40 percent of the revenue. “Over the last two to three years, North and West markets have shown substantial growth, accounting for 35-40 percent of the total revenue. This trend is expected to persist and further grow in the coming quarters,” he added.
Looking ahead, TVS Electronics also plans to expand its track and trace offerings for the Shipping & Logistics sector, enhance point-of-transaction solutions for retail businesses, and offer billing software solutions tailored for various retail formats. The focus on end-to-end integrated electronic solutions, including Field Support Services and Electronic Manufacturing Services, positions the company for further exploration of opportunities within India and overseas.
While TVS Electronics has a strong foothold in the Indian market, the company recognizes the global potential and has successfully established a presence in neighboring nations such as Sri Lanka, Bangladesh, and Bhutan. The company's products, built with industrial-grade quality, are designed to make a global impact.
“Balancing customization for the Indian market with global expansion involves ensuring durability, cutting-edge technology, and time-tested form factors. We aim not only to increase market share but also to build long-term partnerships in new markets, solidifying its position as a regional player with a global outlook,” he concluded.
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