Vikas Chadha, MD, TVS Supply Chain Solutions
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Chennai-based global supply-chain solutions provider, TVS Supply Chain Solutions, is targeting a revenue growth in the mid-teens in FY27. The company is confident that strong new business wins, a healthy pipeline, and an improving operating leverage will support its growth despite continued geopolitical and supply-chain uncertainties, said Vikas Chadha, Managing Director of the company.The company’s guidance, however, is lower than the 28 per cent revenue growth it achieved in the quarter ended June. “We are being a little conservative, promising less and delivering more,” said Chadha said. “We have a healthy pipeline, new wins, lower customer churn, and volume growth among existing customers as key indicators supporting the outlook.”.For the full year FY26, the company’s top line grew 10 per cent.New business winsThe current expectation comes against a backdrop of a sharp improvement in TVS Supply Chain Solutions’ new business wins. After averaging around ₹200 crore of new business revenue in earlier quarters, the company has secured more than ₹500 crore in each of the last two quarters, Chadha said. The company reported its highest-ever quarterly business wins of ₹543 crore and the order pipeline stands at over ₹7,500 crore.Importantly, around two-thirds of the new business came from existing customers. It reflects the value being delivered, said Chadha, adding that the company historically has had a low churn among these customers.That said, the company is being selective about contracts, he said, adding that business where the risk or capability requirements do not justify participation will be avoided. “Profitable growth, rather than growth for its own sake, will remain a priority,” he said.All-round growthThe pipeline is also showing broad-based expansion across geographies and business segments.While renewables and utilities remain the key focus verticals, Chadha said its traditional sectors such as industrial, automobile, technology, and consumer are also witnessing pipeline growth. Defence and aerospace are expected to emerge as additional focus areas, he said.The India business, which contributes about 30 per cent to the company’s revenue currently, is expected to grow to about 40 per cent of the total turnover over the next three to four years, the MD added.Largely unaffected by the warThe West Asia conflict has so far had no material impact on its business, as it has no direct presence in the region and most of its customers are not heavily exposed to the market. However, sea routes have lengthened, container availability has tightened, and logistics costs have increased. The company has been able to pass these additional costs on to the customers, he said.Additionally, volumes during the first 40 days of the second quarter have been good, while labour shortages that affected the first quarter have stabilised. Going forward, Chadha expects the upcoming festive season to provide additional support, particularly to TVS Supply Chain Solution’s consumer-facing business.Published on August 11, 2026
