Indian tyre industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its un-audited results for 2nd Qtr. of FY21-22.
Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre has been attaining continuous sales growth despite partially disrupted market place. The sales in the replacement market registered healthy growth whereas institutional sales recorded a quantum jump during the quarter. JK Tyre’s continued thrust resulted in 35% rise in Exports.
The rising inputs costs impacted operating margins. This could be partially mitigated through enhanced volumes and selective price increases”.
The Company’s subsidiary - Cavendish Industries Ltd continues to contribute to revenue growth.
JK Tornel, the subsidiary in Mexico has also performed well with significant growth in revenues and profitability.
Good efforts on vaccinating the population of the country has led to economic recovery which indeed augurs well for the tyre industry in the coming period.
JK Tyre & Industries Limited
The flagship company of JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three-wheelers.
A global force, JK Tyre is present in 105 countries with over 180 Global distributors. The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities - 9 in India and 3 in Mexico – that collectively produce around 32 million tyres annually. The Company also has a strong network of over 6000 dealers and 650+ dedicated Brand shops called as Steel Wheels and Xpress Wheels.
JK Tyre’s unwavering commitment towards innovation is reflected through its state-of-the-art global research and technology centre – the Raghupati Singhania Centre of Excellence - in Mysore, which houses some of the world’s finest technologies and techniques.
JK Tyre launched India’s first ever ‘Smart Tyre’ technology-and introduced Tyre Pressure Monitoring Systems (TPMS) which monitors the tyre’s vital statistics, including pressure and temperature. The company recently rolled out its 20 millionth Truck/Bus Radial tyre becoming the first and the only Indian company to achieve this milestone.
It is the only Indian tyre manufacturer to be included in the list of Superbrands India in 2019 for the seventh consecutive year. JK Tyre has been conferred the Sword of Honour for Safety across its plants by the British Safety Council, UK. The company entered the Limca Book of Records with the country’s largest off-the-road tyre - VEM 04.
JK Tyre is also synonymous with motorsport in the country. For over three decades, the Company has relentlessly worked towards shaping India’s positioning as the motorsport hub of Asia, developing the right infrastructure for the sport and promoting young talent in the arena.