TVS Srichakra Expands Retail Network with New Ahmedabad Store

TVS Srichakra, maker of Eurogrip Tyres, has opened its 13th signature retail store in India, located in Ahmedabad. This marks the brand's second exclusive outlet in the city, aiming to bolster market presence and customer reach.

New Store Details

The outlet, located in Ahmedabad, Gujarat, opened on March 31, 2026. It provides customers direct access to a full spectrum of two-wheeler tyres and professional services, including fitment, repair, and maintenance.

Expansion Strategy and Benefits

Expanding its branded retail network is crucial for TVS Srichakra to build direct customer relationships and ensure a consistent brand experience. This new Ahmedabad store enhances the company's presence in key urban markets, offering accessible and professional tyre care solutions. The move directly improves customer access to a wider range of Eurogrip tyres and services, strengthening the brand's nationwide recognition and market positioning. The integrated service offering promotes a complete ownership experience for two-wheeler owners.

Growth Background

This opening is part of an aggressive retail expansion for the Eurogrip brand. In recent months, TVS Srichakra has inaugurated several new stores, including its 12th in Alappuzha, Kerala, in March 2026, and its 11th in West Delhi in February 2026. The Eurogrip brand was launched globally in 2021, backed by TVS Srichakra's manufacturing and R&D capabilities. The company's strategy centres on strengthening its branded retail footprint across India for greater visibility and direct consumer access.

Financial and Geopolitical Challenges

Despite its retail expansion, TVS Srichakra faces significant headwinds. The company recently received an Income Tax demand notice of Rs 29.47 crore for FY 2017-18, which it plans to contest, believing the demand lacks merit. It is also addressing a CGST demand order of Rs 55.11 crore for FY 2018-21 and an adverse Customs order for Rs 11.02 crore. Furthermore, geopolitical uncertainties in the Middle East could impact export earnings, while rising crude oil prices threaten raw material costs, potentially squeezing margins.

Competitive Landscape

Competitors such as CEAT and Apollo Tyres are also expanding their retail networks. CEAT operates numerous 'CEAT Shoppes' aiming for thousands of exclusive outlets, while Apollo Tyres boasts over 2,500 exclusive shops in India. MRF, though having extensive dealerships, does not have dedicated MRF-branded stores, relying more on brand pull. This highlights a sector-wide trend towards strengthening direct consumer touchpoints and service offerings.

Key Figures

• TVS Srichakra's export earnings were Rs 446.43 crore in FY 2024-25.
• Cost of Materials Consumed stood at Rs 515.87 crore for the quarter ended December 31, 2025.

Looking Ahead

Investors will track the continued pace of retail network expansion. Key areas to monitor include the performance of newly opened Eurogrip stores, the resolution of pending tax demands (Income Tax, CGST, and Customs), and management's commentary on managing input cost volatility and geopolitical risks affecting exports.