TVS MOTORS IS EXPLORING MULTIPLE LOCATIONS TO SET UP A NEW MANUFACTURING PLANT

is evaluating plans to set up a new manufacturing facility for both two and three-wheelers as it prepares to support strong growth in volumes expected over the next few years. The company is exploring multiple locations at Gujarat, Madhya Pradesh, Karnataka and Tamil Nadu for the new plant. This move comes at a time when the automaker is working to increase it's annual two-wheeler production to about 10 million units by 2030. On the fundamental side, the company has reported a sales growth of 22% CAGR and profit growth of 41% CAGR over the past 3 years. Moreover, it has been maintaining a healthy dividend payout of 20.6% for it's investors, thereby making it a good opportunity for income growth.