Comments
JK Tyre & Industries on Monday launched 10 new products for passenger cars, truck and light commercial vehicles, through which it targets to achieve Rs 300 crore in its topline in the next one year.
The company’s total revenue as of March 31 was Rs 5,444 crore.
The new tyres are designed for high-end luxury cars such as Audi, BMW and Mercedes, the company said. It has also launched a new range for hatchback cars called Ultima Neo.
It said the automotive market in India continues to offer opportunity for growth and with this new range, it is hopeful of increasing market share in high-performance tyre segment.
“The new range also comes as a move towards our expansion plans for India which has an earmarked capacity expansion of Rs 1,430 crore (by December 2014) to increase our truck and bus radial capacity by additional eight-lakh tyres per annum and car radial capacity by another 20 lakh tyres per year at the Chennai plant,” A.K. Bajoria, President and Directorm JK Tyre & Industries, told reporters here.
He said the company that has three plants in Mexico (Tornel) also, will increase the capacity by 18 per cent for the passenger car radial from 36 lakh tyres per annum. The company will also make a fresh investment of Rs 140 crore over next one year in Mexico, he added.
JK Tyre’s shares were trading at Rs 132.05 at 2.40PM, up 4.97 per cent from the previous close.
>ronendrasingh.s@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.