Brakes India, a part of the TSF Group (part of erstwhile TVS Group), is aiming at a wider market share by leveraging on innovation, introduction of new products, growing electric-vehicle segment and overseas expansion, said Sriram Viji, MD.
“Over 25 new components in the air-brake system have been developed over the course of the past few years, and we are going into mass production with large original equipment manufacturers of well-known brands in the next few months,” he said in an interview.
As one of the largest braking-system suppliers, Brakes India has been showcasing its latest products and air braking product range such as ‘Motor on Drum brakes,’ e-booster, air disc brakes, electromagnetic brakes and iron castings and aftermarket portfolio for both CVs and LCVs at several fora such as the European market, AAI Transportation Hanover and the Auto Show.
“From our wheels and brakes that we typically manufacture, we have gone into the entire pneumatic or air braking system. So, there are a lot of components that we have showcased recently,” he said.
According to him, several other products are also under development, but are not yet ready to be disclosed publicly. “We are working on several new products that would bring new innovation by meeting global standards because we are looking at not just Indian but also global requirements in this case,” he said.
The company is expected to post an overall growth of 15-20% in revenue in FY23 and about 20% in exports. While the total revenue is in excess of ₹5,000 crore, the export order is close to ₹1,500 crore, he said.
On the capex, Mr. Viji said that Brakes India typically invests ₹200-250 crore a year. In the coming years, it would get enhanced to meet capacity requirements. Besides, the company is actively exploring new capacities in terms of the iron casting and foundry business.
Talking about the EV braking systems for commercial vehicles such as trucks on the highway, he said that lot of investments would be made in each of those areas with a focus on product development. And it has started.
Regarding exports, he said that they already have export contracts in Southeast Asia, while business development activities are going on across North America, Europe and Southeast Asia. The company is exploring the market across Southeast Asia, Europe and North America.
Asserting that the foundry side of the business has been seeing very strong growth, he said that they are holding discussions internally as well as with the government on where to put up new capacity.
“There is a positive energy in the company right now that is driving our development over the next 5 years. This is also supported by the significant recovery in the automotive market across all segments combined with our growing export order book,” he said.