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German taxpayers funding Indian tyre factory expansion

Tyre manufacturers have announced the closure of several factories within Germany in recent times, not least as a result of cost competitive competition from abroad. This has not stopped the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a development bank indirectly owned by Germany’s federal and state governments, from providing JK Tyre & Industries Ltd with a long-term loan of 30 million euros to help it expand a plant in India.

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Related news:

  1. Not competitive enough – Michelin confirms plant closures in Germany
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Show debut for JK Tyre’s latest OTR products

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The bauma CONEXPO India exhibition began in Delhi NCR today, and JK Tyre & Industries has used the event as a platform for launching its latest off-the-road tyres. The new offerings include, 17.5-25 VEM 63 L5 for wheel loaders, 16.00-25 VEM 99D E3 for wide body dump trucks, 12.00-24 VEM Smooth L5S for load haul dumpers, 300-15 Jet Lift for forklift trucks and 10/75-15.3 MPT117 for self-loading concrete mixers. Anuj Kathuria, President of JK Tyre’s India business and Debasis Khuntia, Head of OTR, were on-site to unveil the products.

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Related news:

  1. JK Tyre investing in additional production capacities
  2. JK Tyre & MRF publish annual reports
  3. JK Tyre joins RE100
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JK Tyre joins RE100

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JK Tyre & Industries has become the first Indian tyre maker to join the global corporate renewable energy initiative RE100, and just the 16th business of any type within the country. Company Chairman and Managing Director, Dr Raghupati Singhania, states that JK Tyre’s decision to join RE100 “represents our unwavering commitment to environmental responsibility.

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Related news:

  1. JK Tyre develops 80% sustainable tyre
  2. JK Tyre profits rise 18% in July-September quarter
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  4. JK Tyre to consolidate, boost R&D activities
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JK Tyre merging Cavendish subsidiary

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JK Tyre & Industries Ltd. is working towards merging with its 2016-acquired subsidiary Cavendish Industries Ltd. (CIL). Following the merger, all the company’s tyre operations in India will be housed within a single listed company, an arrangement expected to result in greater synergies, a simplified structure and less red tape. JK Tyre also views a merger with CIL as a means of “unlocking value” for its shareholders as well as improving investor perceptions.

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Related news:

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JK Tyre reports moderate revenue & profits in challenging Q2 2025

JK Tyre & Industries Ltd. has announced its financial results for Q2 FY2025 and H1 FY2025, the quarter- and half-year periods ending 30 September 2024. The tyre maker’s latest figures show a decline in key metrics year-on-year amidst challenging market conditions. Despite these headwinds, the company’s strategic focus on export growth and innovative product development provided partial offset to slower domestic performance. Operating challenges, including fluctuating raw material prices, dampened profitability margins.

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Related news:

  1. JK Tyre lifts profits in FY24
  2. JK Tyre reports 33% increase in Q1FY25 Net Profit
  3. JK Tyre profits rise 18% in July-September quarter
  4. Raw materials, tyre imports hammer JK Tyre in April-June quarter
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JK Tyre reports 33% increase in Q1FY25 Net Profit

JK Tyre & Industries Ltd. (JK Tyre) has announced its unaudited financial results for the first quarter of the fiscal year 2025. The company reported significant improvements in key financial metrics, demonstrating resilience and strategic agility amidst challenging market conditions.

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Related news:

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JK Tyre & MRF publish annual reports

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Indian tyre makers MRF Ltd. and JK Tyre & Industries have published their annual reports for the 2023-24 financial year ahead of their respective annual general meetings on 1 and 2 August. Both documents can be read and downloaded here.

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Related news:

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JK Tyre launches next generation commercial vehicle tyre lines

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JK Tyre

Leading Indian truck and bus radial (TBR) manufacturer, JK Tyre & Industries has introduced its new and advanced range of commercial tyres for the transportation sector. The company introduced four new variants, the Jetway JUM XM, Jetway JUC XM, Jetsteel JDC XD, and the Jetway JUXe for electric buses. JK Tyre states that the expansion of its product portfolio underscores its “dedication to providing advanced, high-performance solutions that combine superior performance, economic benefits, and environmental responsibility.” It said the launch was a “significant milestone” in its commitment to driving sustainable mobility solutions; the tyres are designed to enhance performance, operational efficiency, cost savings and sustainability.

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Related news:

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JK Tyre rating and outlook upgraded on ‘increasing share of premium products’

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CARE Ratings Limited (CARE) has upgraded JK Tyre and Industries Limited (JKTI)’s credit rating from CARE A+ to CARE AA- and reaffirmed its short-term ratings of CARE A1+. The outlook has also been revised from Positive to Stable.

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Related news:

  1. India’s JK Tyre improves debt rating
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  3. Indian tyre manufacturer shares surge over Easter
  4. JK Tyre reports US$ million 3Q net profit
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JK Tyre investing in additional production capacities

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During a recent earnings call, JK Tyre & Industries’ managing director, Anshuman Singhania, shared that the company is investing Rs 14 billion (£131.76 million) to increase its production capacities for TBR, PCR and ASLTR (all-steel light truck radial) tyres. He commented that these projects are “under implementation and progressing well.”

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Related news:

  1. Anaj Kathuria to lead JK Tyre’s India business
  2. IFC takes 5.6% share in JK Tyre
  3. JK Tyre boosting car tyre capacity by 3 million units
  4. India’s ATMA appoints new chairman, vice chairman
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JK Tyre lifts profits in FY24

JK Tyre & Industries reports a 56.24 per cent year-on-year increase in profit after tax during the fourth quarter of FY24, reaching Rs 1.69 billion (£16 million). The company also recorded a 1.82 per cent rise in its consolidated revenue from operations, totalling Rs 36.98 billion (£349 million). It attributes this increase in profit to product premiumisation and expanded market reach.

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Related news:

  1. Despite challenging environment, JK Tyre posts higher full-year profits
  2. JK Tyre profits rise 18% in July-September quarter
  3. Raw materials, tyre imports hammer JK Tyre in April-June quarter
  4. JK Tyre now 26% shareholder in Treel Mobility Solutions
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JK Tyre open 92nd branded truck tyre retail centre in India

JK Tyre & Industries Ltd has inaugurated its 22nd brand shop in the Tamil Nadu region, thereby further expanding the company’s last mile presence in the country. The one-stop solution brand shop – Hindustan Tyres was inaugurated by Mr. Sanjeev Sharma, Vice President – Mobility Solutions & Fleet Management, JK Tyre & Industries Ltd. along with other senior officials of the company. JK Tyre reports that it now has 92 branded truck tyre retail centres across India.

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Related news:

  1. JK Tyre acquires Kesoram subsidiary, tyre factory
  2. Truck/bus radial production reaches 10M mark at JK Tyre
  3. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  4. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
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JK Tyre raises 5 billion rupees

JK Tyre & Industries Limited has successfully concluded a 5-billion-rupee (£47.474 million; 55 million euros; US$60.125 million) Qualified Institutional Placement (QIP). The QIP was priced at 345 rupees per share (including a premium of 343 per share with face value of 2 rupees per share). According JK Tyre, the QIP received an “overwhelming response” from “marquee investors including Indian mutual funds, insurance companies and foreign institutional investors”.

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Related news:

  1. JK Tyre raises £47 million through QIP
  2. JK Tyre acquires Kesoram subsidiary, tyre factory
  3. JK Tyre launches US operation
  4. JK Tyre boosting car tyre capacity by 3 million units
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JK Tyre raises £47 million through QIP

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India’s JK Tyre & Industries Limited has successfully concluded its fund-raising plans of Rs 5 billion (£47.2 million) by way of Qualified Institutional Placement (QIP). The tyre maker will utilise funds gained through the QIP for capital expenditure projects and to strengthen its balance sheet.

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Related news:

  1. JK Tyre now 26% shareholder in Treel Mobility Solutions
  2. JK Tyre reduces pay for management in “unprecedented” times
  3. IFC takes 5.6% share in JK Tyre
  4. JK Tyre develops 80% sustainable tyre
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JK Tyre supports Indian car- and motorcycle- of the year awards

The 19th edition of the Indian Car of the Year (ICOTY) and 17th edition of Indian Motorcycle of the Year (IMOTY) awards have been promoted by JK Tyre ever since their inception. According to the company, these awards stand as “the pinnacle of recognition in the Indian automobile industry, with a legacy of honouring excellence and innovation”.

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Related news:

  1. JK Tyre gains five-star safety audit
  2. JK Tyre returns as ICOTY presenting sponsor
  3. JK Tyre Capacity – and Prices – to Increase
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