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ICICI Direct Report
We met the management of TVS Electronics Ltd. to get an insight into the company and its future plans.
Key highlights -
As of nine months-FY23, products and solutions segment contributes 68% to the topline while the remaining 32% contribution comes from the customer support services segment.
Under the products and solutions segment, ~65% of revenue is derived from the retail industry while the remaining contribution is derived from the banking, financial services and insurance, government and logistics industry.
As part of its future growth strategy, the company plans to strengthen its offering from only hardware devices to bundle offering of hardware devices along with software solutions. With this shift, the management aims to increase wallet share of existing customers and acquire new customers.
To strengthen its foray into bundled services, TVS Electronics acquired two companies namely Swiftomatic (RoyalPoS) and GTID Solutions.
According to the management, going forward, the customer services segment will be driven by business-to-consumer segment wherein the company will provide repair services to consumers directly. This is likely to result in an improvement in segment Ebit margin.
TVS Electronics will be foraying into box-build printers and printed circuit board assembly majorly for exports. For the same, the company will be setting up 10-12 surface mount technology lines in the next three years.
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