TVS Electronics Ltd is one of the premier IT Peripherals companies in India. The company is a part of the 99-year-old, USD 3.5 billion TVS Group, one of India's oldest & most trusted business groups. They are engaged in the business of transaction automation information technology (IT) products and solutions. The company has two subsidiary companies, namely Tumkur Property Holdings Ltd and Prime Property Holdings Ltd. The company is a subsidiary of TVS Investments Ltd. Sundaram-Clayton Ltd is the ultimate holding company.
The company is headquartered in Chennai. The company is having their manufacturing unit located at in Dehradun, Uttarakhand. They are having the partner network comprising of 3500+ authorized dealer partners and 400+ authorized service partners covering 450+ towns. The company's principal products include computer peripherals and IT management services. Their other products include receipt printers, which includes RP-45 Shoppe, RP-35, RP-3160 and RP-3200; automatic identification and data capture/collection (AIDC) products, which includes LP-44, LP-46, BS-C101 Star, BS-L1010 Platina, and point of sale (POS) accessories, which includes PD-VFD, MSR-104, POS-60, Cash Drawer and Paper Roll.
TVS Electronics Ltd was incorporated on September 15, 1995. The company was formerly known as TVS eTechnology Ltd. Initially, the company was a national player in the customer support, technology support and maintenance services (TMS) areas. They offered field customer support to products of TVS-E. Also, they acted as a preferred outsourced strategic partner for various Brand Owners / Service Providers.
In the year 2002, the company launched two new products, namely TVS Sprint, a retail automation product and TVS Proton, World's quickest Bill printer. Also, the company acquired ICL Foundries Ltd, Sundram Telematics Ltd and Auctionindia.com Ltd and thus these three companies became the subsidiary company. The company changed their status form a deemed public limited company to a full-fledged public limited company with effect from September 20, 2002.
During the year, the company carried out a major structural change. Three subsidiaries, namely ICL Foundries Ltd, Sundram Telematics Ltd and Auctionindia.com Ltd were amalgamated with the company with effect from November 1, 2002. Also, Harita Technical Services Ltd merged with the company with effect from November 1, 2002.
As per the scheme of amalgamation, the erstwhile TVS Electronics Ltd was amalgamated with the company with effect from December 9, 2002. Also, the company changed their name from TVS eTechnology Ltd to TVS Electronics Ltd.
Consequent to the holding company, Sundaram Infosel Ltd, a subsidiary of TVS Investments Ltd transferred their entire share holding in the company to TVS Investments Ltd, a subsidiary of Sundaram-Clayton Ltd. Thus, the company became a subsidiary of TVS Investments Ltd.
In the year 2003, the company formed a new division, namely International Marketing Division to focus on the exports of the price competitive products in new geographies. During the year 2004-05, the company entered into the Direct Home Access products segment and successfully launched Set Top Boxes.
During the year 2005-06, the company acquired 100% of the equity share capital of Sravanaa Properties Ltd, which is engaged in property development. Thus, Sravanaa Properties Ltd became a wholly owned subsidiary company. Also, the company transferred their unutilized property at Nandambakkam to Sravanaa Properties Ltd for a sum of Rs 45 crore with a purpose to develop the property in view of burgeoning real estate market for IT Park in Chennai.
During the year 2006-07, the company promoted TVS-E Servicetec Ltd as a wholly owned subsidiary, which is engaged in Contract Customer Support Services Business (CCS). Also, the company restructured their business during the year. In May 31, 2007, the company sold the CMS division operating at Tumkur together with all their assets and business to Incap Contract Manufacturing Services Pvt Ltd for a total consideration of Rs 42.42 crore.
During the year 2007-08, the company launched a series of new products especially in the Point of Sale category and key boards. The company set up a new plant at Sela Qui, near Dehradun, Uttarakhand. Also, they established a Unit II near the plant, in Uttarakhand and moved the production lines from Kala Amb, Himachal and Guindy, Chennai. Thus, the manufacturing operations at Kala Amb, Himachal and Guindy, Chennai ceased.
In July 1, 2007, the company transferred their CCS Business to their wholly owned subsidiary company, TVS-E Servicetec Ltd. In October 11, 2007, the company transferred the shareholdings in TVS-E Servicetec Ltd to TVS Investments Ltd. Also, they sold the entire shareholdings in TVS Finance and Services Ltd to TVS Investments Ltd at cost. A part of the shareholdings in Modular Infotech Pvt Ltd was also transferred at par to TVS Investments Ltd.
In October 11, 2007, as part of restructuring the business, the entire shareholding in Sravanaa Properties Ltd was transferred to TVS Capital Funds Ltd. Also, the company promoted Tumkur Property Holdings Ltd and Prime Property Holdings Ltd on October 24, 2007 and November 9, 2007 respectively to acquire the non core assets at Tumkur and Chennai.
During the year 2008-09, the company expanded their presence in the supplies business by starting a fresh revenue stream of Rs 1 crore. They made renewed efforts on cost reduction to combat the adverse impact of Forex volatility and price erosion especially in the Enterprise and Government segment of the business.
As a part of overall consolidation for efficiency, the company invested in a second plant at Dehradun, (Uttarakhand) expanding their capacity to manufacture printers, keyboards and print heads across the range of products. They have also invested in the Tamil Nadu SEZ (Oragadam) for long term strategic options.
During the year 2009-10, the company continued their focus on fulfillment of customer needs by continuous and extensive engagement with customers and launched Scanners and Thermal Mini Printers in the market.
In November 2010, the company launched the next generation Point of Sale printers in association with Citizen Systems Japan. The new range of POS printers includes direct thermal and dot matrix technology. With the introduction of these printers TVS-E has further raised the bar of transaction printing. The new range of POS printers consists of RP 3300, RP 4150, RP 3200 gold and RP 35 Gold.