30/4/2025, 10:55:04 am

TVS investments in loss-making UK arm Norton spark analyst concerns

TVS Motor's investments in its UK-based subsidiary Norton, acquired in 2020 for ₹153 crore, have raised concerns due to persistent losses. Despite over ₹1,000 crore invested, Norton's Ebit losses grew from ₹91 crore to ₹140 crore in Q4FY25. TVS plans to launch new Norton products by FY24-end, but analysts expect meaningful revenue only by H2FY27. This has impacted TVS's free cash flow.