JK Tyre has recorded a growth of more than 40% in export sales in the month of December 2019 as compared to the corresponding month of last year. Exports contributed 11% of its total revenue in FY 2019 and are expected to record a growth of more than 50% in the current financial year. In the domestic replacement market as well, the company has increased its sales by more than 18% on a y-o-y basis in December 2019. This twin strategy has worked out well for the company which is expecting to benefit from this strategy and focus on replacement and export markets in times to come.
Commenting on this performance, Mr Sanjeev Aggarwal, Chief Financial Officer said: “In pursuit of its long term growth plans and to combat the temporary slow down in the OEM market, JK Tyre has adopted a twin strategy to increase its revenue from replacement and export markets. JK Tyre has developed specific products for the international markets with a view to enhance its market presence and improve its exports globally.”
Part of the JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments in the automobile industry. JK Tyre is the only tyre manufacturer in India to be included in the list of Superbrand in 2019. The Company achieved a remarkable feat by entering the coveted Limca Book of Records with the country’s largest off-the-road tyre – VEM 045. It also launched TREEL Sensors, a one of a kind technology-based tool geared towards smart monitoring and maintenance of tyres.
JK Tyre has a global presence in 100 countries across six continents, backed by production support from 12 plants – 9 in India and 3 in Mexico. In April 2016, JK Tyre acquired Cavendish India Limited from Birla Tyres. This acquisition added three modern plants to its portfolio taking the total count to 12 and helped the tyre major foray into the two/three-wheeler segment as well. JK Tyre produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. It offers tyre for entire range of passenger and commercial vehicles, starting from a 3 kg two-wheeler tyre to a 3.5-ton OTR tyre.