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Speaking to CNBC-TV18 from the sidelines of the 21st Motilal Oswal Annual Global Investor Conference, Vice Chairman Vellayan Subbiah said a cut in goods and services tax (GST) rates could further support demand. “If we do have tax rate cuts, and it’s passed on to the consumers, which it will get transmitted in this case, it will definitely help.”
He also shared his views on government policy, global trade, and the company’s plans in the electric vehicle (EV) space.
On the impact of US tariffs, he explained that it is still uncertain how the situation will evolve. “It’s still too early to tell how things will play out… in some of our businesses, there will be an impact, but we have to see how long it sustains.” He added that supply chains cannot be switched quickly and discussions with customers are ongoing.
Also Read | Battery swapping can accelerate India’s EV adoption, says industry experts
When asked about the electric vehicle (EV) segment, Subbiah highlighted new product launches in the pipeline. “In the next quarter, we’ll be coming out with a new product release in the three-wheeler segment. It’s a great refresh on the existing product,” he said.
On growth expectations, Subbiah noted that Tube Investments will likely post high single-digit growth.
This Tamil Nadu-based engineering firm – that manufactures precision steel tubes and strips, automotive and industrial chains, car door frames, and bicycles – is also moving ahead with battery pack manufacturing.
Subbiah said, “We still buy the cells from outside and we’ll be packing them in our own facilities… for our trucks and some of the other vehicle formats, like our small commercial vehicles.” This will begin in the next quarter.
Also Read | India’s EV push hinges on ‘three Ps’: product, proportion, and pricing, says JSW MG Motor’s Rajeev Chaba
Tube Investments, with a market capitalisation of ₹60,584.19 crore, has seen its shares decline more than 23% in the past year.
For the full interview, watch the accompanying video
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