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It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania

Days after India’s Directorate General of Anti-Dumping published its final findings into truck and bus tyres imported from China and recommended the introduction of anti-dumping duties for certain products, the chairman and managing director of the country’s largest domestic producer of truck and bus radials supported the measure with comments of his own. During his speech at JK Tyre & Industries Ltd’s annual general meeting on 4 August, Dr Raghupati Singhania declared it is “high time” India’s government undertook such a step.

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  1. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  2. India considering anti-dumping duties for Chinese truck tyres
  3. Truck/bus radial production reaches 10M mark at JK Tyre
  4. Anti-dumping – EC to investigate Chinese tyre imports to Europe
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Truck/bus radial production reaches 10M mark at JK Tyre

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Radialisation of the truck tyre segment in India has been a major subject over the past decade, and JK Tyre and Industries Limited considers itself the “undisputed leader” in this field. The tyre maker produced its first truck and bus radial in 1999 and currently holds the capacity to produce 3.5 million units per annum. On 22 August, the 10 millionth radial truck tyre produced rolled off the line at the company’s Vikrant plant in Mysuru (Mysore).

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  1. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  2. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  3. JK Tyre acquires Kesoram subsidiary, tyre factory
  4. JK Tyre to consolidate, boost R&D activities
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JK Tyre to consolidate, boost R&D activities

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India’s JK Tyre reportedly intends to bring its research and development teams together into a new RS 1 billion (£11.4 million) centre at its Mysuru (Mysore) site. According to IANS, company chairman Dr Raghupathi Singhania disclosed yesterday that facilities “currently spread over different locations” will be “brought under one roof” in a “world-class” centre.

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  1. JK Tyre acquires Kesoram subsidiary, tyre factory
  2. Truck/bus radial production reaches 10M mark at JK Tyre
  3. JK Tyre now 26% shareholder in Treel Mobility Solutions
  4. JK Tyre reduces pay for management in “unprecedented” times
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JK Tyre profits jump 41% in 2015-16

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India’s JK Tyre & Industries Ltd. has reported a consolidated net profit of Rs 4.64 billion (£47.7 million) for the financial year ending 31 March 2016, a 41 per cent year-on-year rise over the previous fiscal. Consolidated turnover amounted to Rs 76.54 billion (£786.9 million). On a standalone basis, JK Tyre achieved turnover of Rs 65.80 billion (£676.5 million), a year-on-year increase of 58 per cent. In light of this improved performance, the company’s Board of Directors has recommended a dividend of 125 per cent on JK Tyre’s equity shares, pending approval at the tyre maker’s Annual General Meeting.

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  1. JK Tyre profits rise 18% in July-September quarter
  2. Despite challenging environment, JK Tyre posts higher full-year profits
  3. Raw materials, tyre imports hammer JK Tyre in April-June quarter
  4. JK Tyre to consolidate, boost R&D activities
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India’s tyre exports, production declines

Indian industry association the Automotive Tyre Manufacturers’ Association (ATMA) reports that exports of tyres from India decreased in the first half of the country’s current financial year, the period between April and September 2015. Exports of passenger car tyres produced in India fell 22 per cent year-on-year to 1.08 million units, while medium and heavy commercial vehicle tyre exports declined nine per cent to 968,000 pieces.

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  1. India’s ATMA requests doubling of imported tyre duties
  2. Truck tyre imports halved as Indian manufacturers reduce prices
  3. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
  4. Apollo Tyres restarting production in Hungary & India
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Truck tyre imports halved as Indian manufacturers reduce prices

Imports of truck and bus radials into India fell by almost a half during the June to November period. Quoting figures from the All India Tyre Dealers Federation (ATMA), business daily The Hindu writes that the number of TBR tyres imported into the country declined from 106,700 units in June to just 54,175 units in November; it reports that the decline in imports followed price cuts of eight to ten per cent that were introduced by domestic tyre manufacturers.

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  1. India’s ATMA requests doubling of imported tyre duties
  2. Imports creating disquiet within India’s tyre industry
  3. TBR imports into India soar to meet rising demand
  4. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
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JK Tyre acquires Kesoram subsidiary, tyre factory

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The acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. has been approved by the Board of Directors at JK Tyre & Industries. The Indian tyre maker is acquiring 100 per cent equity in Cavendish from Kesoram Industries Ltd. for just under Rs 22 billion (£214.6 million). According to JK Tyre, it and other JK Group companies will fund the acquisition by a combination of debt and internal accruals, and JK Tyre’s financial exposure is expected to be some Rs 4.5 billion (£43.9 million). The deal is expected to close in December 2015.

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  1. Kesoram to invest almost £30M in PCR tyre production
  2. Truck/bus radial production reaches 10M mark at JK Tyre
  3. JK Tyre now 26% shareholder in Treel Mobility Solutions
  4. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
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JK Tyre calls for tariffs on Chinese tyres, release quarter results

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The latest quarter figures for JK Tyre & Industries were released along with a challenge for India’s government to impose tariffs upon tyres imported from China. Company chairman and managing director Dr Raghupati Singhania stated on 4 August that the “menace” posed by the “dumping of Chinese tyres” continues “unabated”. He added that “urgent steps are required to impose [an] anti-dumping duty to ensure a level playing field in the marketplace.”

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  1. JK Tyre appoints new president of India business
  2. JK Tyre to consolidate, boost R&D activities
  3. JK Tyre senior management takes 25% pay cut amid Covid-19 pandemic
  4. JK Tyre reduces pay for management in “unprecedented” times
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JK Tyre appoints new president of India business

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JK Tyre & Industries has named Vivek Kamra its president – India. Kamra’s appointment to the role follows Arun K Bajoria’s promotion to the position of director and president – international operations.

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  1. JK Tyre calls for tariffs on Chinese tyres, release quarter results
  2. JK Tyre senior management takes 25% pay cut amid Covid-19 pandemic
  3. JK Tyre reduces pay for management in “unprecedented” times
  4. JK Tyre to consolidate, boost R&D activities
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India’s ATMA requests doubling of imported tyre duties

Indian tyre industry organisation the Automotive Tyre Manufacturers’ Association (ATMA) has reportedly submitted a memorandum to the country’s government ahead of its 2015 budget. The ATMA it said to be seeking a doubling in the import duty imposed on tyres to 20 per cent, a move that would bring duties more in line with those placed upon natural rubber.

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  1. Indian tyre makers’ association seeks duties review
  2. Truck tyre imports halved as Indian manufacturers reduce prices
  3. India’s tyre exports, production declines
  4. Imports creating disquiet within India’s tyre industry
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JK Tyre profits rise 18% in July-September quarter

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India’s JK Tyre & Industries Ltd has reported consolidated net profit of Rs 755.9 million (£7.8 million) for the three months to 30 September 2014, the second quarter of the company’s current financial year. This result represents a year-on-year increase of 18.1 per cent. The company achieved a consolidated turnover of Rs 18.7 billion (£193.5 million), up 3.6 per cent from the second quarter of the previous financial year.

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  1. Despite challenging environment, JK Tyre posts higher full-year profits
  2. JK Tyre reports US$ million 3Q net profit
  3. JK Tyre profits jump 41% in 2015-16
  4. JK Tyre now 26% shareholder in Treel Mobility Solutions
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Despite challenging environment, JK Tyre posts higher full-year profits

JK Tyre & Industries reports a 29 per cent year-on-year increase in net profit for its 2013-14 financial year. During the 12-month period between 1 April 2013 and 31 March 2014, the Indian tyre maker achieved turnover of Rs 82.8 billion (£833.7 million), nine per cent higher than in the prior financial year. Operating profit was up 41 per cent to Rs 8.9 billion (£89.6 million) while pre-tax profit grew 42 per cent to Rs 3.5 billion (£34.9 million). The 29 per cent expansion in the company’s bottom line brought net profit to Rs 2.6 billion (£26.5 million). The company has announced a 50 per cent equity share dividend.

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  1. Material costs squeeze JK Tyre 2011 profits
  2. JK Tyre profits rise 18% in July-September quarter
  3. Tornel operation gives JK Tyre quarter profit a boost
  4. JK Tyre profits jump 41% in 2015-16
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