The Hindu: Published on 13th Oct 2025.
Why in News?
The TSF Group (descendants of the late T.S. Santhanam) — formerly part of the TVS Group — has unveiled a five-year roadmap as it rebrands and prepares to mark 120 years of legacy in 2031.
The group aims to double manufacturing revenue from ₹16,000 crore to ₹32,000 crore and grow Sundaram Finance Group’s AUM from ₹1.5 lakh crore to ₹4 lakh crore by 2030.
Background:
The TVS Group, one of India’s oldest business houses, formally split in 2020 through a Memorandum of Family Arrangement, finalized in 2022, aligning business ownership among different family branches.
The Santhanam family branch, associated with Sundaram Finance, rebranded as the TSF Group because they are not permitted to use the “TVS” brand name under the agreement.
The rebranding reflects the group’s effort to carry forward the TVS legacy of trust, ethics, and transparency under a new identity.
Key Objectives and Targets (Vision 2030)
Manufacturing Revenue:
Double from ₹16,000 crore → ₹32,000 crore
AUM of Sundaram Finance Group:
Expand from ₹1.5 lakh crore → ₹4 lakh crore
Capital Expenditure (Capex):
₹2,500 crore investment in new facilities, digital transformation, and new product lines
Global Presence:
Expansion in overseas markets and enhanced export footprint
Core Values:
Maintain trust, transparency, ethics, and customer focus as guiding principles
Business Structure:
The TSF Group comprises three main holding companies:
Sundaram Finance Ltd. (SFL) – flagship NBFC
Sundaram Finance Holdings Ltd. (SFHL) – now renamed TSF Investments Ltd.
TSSFPL (Trichur Sundaram Santhanam Family Pvt. Ltd.)
It has consolidated ownership by buying out joint venture partners in Wheels India, Brakes India, and Axles India, enhancing control and independence.
Financial Performance Snapshot (FY25):
Sundaram Finance (SFL) AUM: ₹51,476 crore (↑17%)
Disbursements: ₹28,405 crore (↑9%)
PAT (Profit After Tax): ₹1,543 crore (↑6%)
Long-term Return to Shareholders: 23% compounded over 20–25 years, comparable to Berkshire Hathaway
Business Philosophy:
Motto: “Growth with Quality and Profitability” (GQP)
Goal: To be the most respected NBFC in India, not just the largest.
The company focuses on ethical lending, customer trust, and long-term value creation, especially in used vehicle financing, where it can offer competitive rates.
Southern conservatism — a careful, value-driven, long-term growth philosophy — remains the hallmark.
Broader Economic Context:
The group’s optimism is backed by:
A growing Indian economy
Localisation push by global clients
Resilient supply chains between India and the U.S. despite geopolitical issues
This environment is expected to help achieve the 2030 vision.
Challenges Ahead:
Intense competition from banks and fintechs with lower funding costs
Navigating geopolitical trade tensions and tariff uncertainties
Managing growth while upholding legacy values and conservative financial prudence
Significance:
The TSF rebranding symbolizes a continuity of heritage with modernisation.
It reinforces the importance of values-based capitalism in India’s evolving corporate landscape.
By focusing on both manufacturing and financial services, TSF is positioning itself as a diversified and ethical growth leader.
Future Outlook:
By 2030, the TSF Group envisions becoming a modern, globally relevant conglomerate that continues the TVS legacy through:
- Digital innovation
- Ethical finance
- Global partnerships
- Sustainable, quality-driven growth
