myTVS Growth: 35-40% CAGR Expected

Chennai, Nov 26 (PTI) The automotive service provider myTVS was confident of sustaining the 35-40 per cent compounded annual growth rate (CAGR) in future, a top official said on Wednesday.

The Chennai-headquartered company was also hopeful of registering a positive profit before tax (PBT) in the coming quarters, Managing Director G Srinivasa Raghavan said.

He said myTVS reached a milestone of crossing 10 million active service subscriptions on the platform last month.


"If I put that in a perspective, there are around 50 million car in the country and if you are talking about 10 million that gives roughly around 18-20 per cent of the customers who have bought service subscription on the platform", he told select reporters.


"Either through directly or through our partners, you know that is a significant milestone for a 5 year old digital platform provider which also tells us that the aftermarket industry is truly becoming a mobility," he said.


He noted with 1,100 multi-brand network, myTVS has the largest service points across the country.


"That ecosystem has helped us really grow about 35-40 per cent in the last two -four years and we are fairly confident that we should be able to sustain it", he said.

He remarked that by expanding dealership, from profitability perspective myTVS has become a bit profitable. "One of the fastest digital platforms within the five years (of launch) has become a bit profitable. And hopefully, we should be PBT positive in the next few quarters to come." he said.

On expanding the network, he said the company was well on its track to cross 2,500 multi-brand service network over the next two years.

Referring to the company's entry into distribution of auto parts and lubricants through quick commerce segment termed 'dark stores', he said, "I am very happy to share with you that we are ahead of our plan and by March 2026 we should have crossed 100 dark stores across the country and by next year (March 2027) we would be having 250 dark stores which makes it as the shortest supply chain provider".