Background: TVS Motors (TVSM), formerly known as TVS Suzuki, is the flagship company of TVS group with FY15 revenues of INR 103bn and the fourth largest two wheeler manufacturer in India. TVS has manufacturing facilities in Hosur, Mysore, Himachal Pradesh and Indonesia with a production capacity of 3mn. The product portfolio of TVS encompasses motorcycles (40%), mopeds(20%), scooters (22%), 3 Wheelers (6%) and Spares & Others(12%). TVS exports its products to over 50 countries and derives ~12% of revenues from exports. The market share across various segments are: Motorcycles (6%), Scooters (15%), Mopeds (100%) and 3 Wheelers (22%). In...