TVS Motor Company Limited

Topics: TVS Motors, Board of directors, Corporate governance Pages: 11 (1597 words) Published: April 28, 2015
FINANCIAL MANAGEMENT

TVS Motors Annual Report Analysis-I

TVS Motor Company Limited
22nd Annual Report 2013-2014

Sector Analysis
The two wheeler industry is still yet to pick up pace. There was a marginal rise from 2% in 2012-13 to 7% in 2013-14. Poor income levels and depressed economic sentiments are the major reasons for the lack in growth for this industry. Motorcycles grew at a moderate 4% from a low of 0.1% with respect to the previous year. Scooters as a category continued to gain momentum due to new launches and were high at 23% from 14%. Mopeds showed a decline of 8% over the previous year. The 3 wheeler industry grew by 5% mainly due to the increase in exports whereas domestic sales had suffered. Business outlook and overview for this sector would be modest growth due to continued problems within the economy as well as poor consumer sentiments. Notice to Shareholders

A notice regarding the Annual General Meeting was passed, which included propaganda as well as the venue, date and time for the same. A brief about the same is as follows: Ordinary Business
The profit & loss and cash flow statement including consolidated financial statements for the year ended on 31st March 2014, together with the directors' report and the auditors' report thereon as presented to the meeting, be and are hereby, approved and adopted Re-appointment of the director of the company

Appointment of the statutory auditors of the company to hold office Special Business
Appointments and re-appointments of some of the directors
Remuneration of Rs. 5 Lakhs, in addition to reimbursement of travel and out-of-pocket expenses to the practicing cost accountant All other terms and conditions of appointment and remuneration payable to the whole time director of the company, which is to be decided by means of ballot. All rules and regulations regarding to the ballot have also been listed A brief profile of directors, who are proposed to be re-appointed / appointed in this AGM, nature of their expertise in specific functional areas, their other directorships and committee memberships, their shareholding and relationship with other directors of the Company have also been mentioned Board of Directors

Name
Experience
VENU SRINIVASAN (Chairman & Managing Director)
In May 1979 he became the Managing Director of Sundaram Clayton Ltd. He became Chairman of TVS Motor Company in July 2002. He was also President of the Society of Indian Automobile Manufacturers. SUDARSHAN VENU (Whole-Time Director)

From February 2013 he was appoinedt as a whole-time director of the company for a period of five years. H. LAKSHMANAN
H. Lakshmanan joined the TVS Group in 1953.In 1982 he became the executive director of Sundaram-Clayton Limited and still holds the position. He was incorporated as a director of the Company on 24th April 2000. T. KANNAN

He has a wide range of experience in textile industry. He held the position of Chairman of The Cotton Textile Export Promotion Council, Mumbai and also as the Chairman of The South India Mills' Association. He was incorporated as a director of the Company on 27th January 2000. C. R. DUA

He was incorporated as a director of the Company on 27th December 2001. Mr C R Dua is the founder of M/s. Dua Associates, which is one of the prominent law firms in India. K. S. BAJPAI
He was in the Indian Foreign Service. For five years he served as Senior International Advisor to Merrill Lynch, New York. From January 27, 2003 to July 14, 2014 he served as a Non-Executive Independent Director of TVS Motor Company Limited. R. RAMAKRISHNAN

He had the distinction of being part of the five member high power delegation led by the then Prime Minister Mr Rajiv Gandhi to the 40th General Assembly of the United Nations in 1985 and had the privilege of addressing it twice. He was incorporated as a director of the Company on 11th March 2009. PRINCE ASIRVATHAM

He is a former Group Treasurer and Head (Investor Relations)...
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