JK Tyre & Industries Ltd is one of the leading automotive tyre manufacturers in India. The company is engaged in manufacturing of automobile tyres, tubes and flaps. They manufactures Radial and Bias 4-wheeler tyres for trucks, buses passenger cars, LCVs, tractors etc. They sell their products under the brand name 'JK Tyre'. They have four plants located in Rajasthan, Madhya Pradesh and Karnataka.
The company has 134 sales, service and stock points located throughout the country. They have over 3,500 dealerships across India. The company's customer base covers virtually the entire Original Equipment Manufacturers in India together with Replacement Market for four wheeler vehicles, Defence and State Transport Units. Besides India, they have a worldwide customer base in over 45 countries across all six continents.
JK Tyre & Industries Ltd was incorporated in the year 1951 as a private limited under the name JK Industries Pvt Ltd. Until March 31, 1970, the company was engaged in the managing agency business. Thereafter the company decided to undertake manufacturing activities and obtained a letter of intent in February 1972 for the manufacture of automobile tyres and tubes. The company name was changed into JK Industries LTD with effect from May 24, 1974 consequent upon conversion of the company into a public limited company.
In the year 1974, the company entered into a technical collaboration with General Tire International Co, USA, a subsidiary of General Tire & Rubber Co, USA for technical services and sales agreement for the supply of technical know how engineering and documentation for operational facilities. In the year 1989, the company introduced several new patterns and sizes of tyres including a semi-lug Nylon Truck tyre.
In the year 1991, the company set up Banmore Tyre Plant with a capacity of 5.7 lakh tyres per annum. They launched radial tyres for tractors. In the year 1992, the company's international division expanded their activities by opening their office in Moscow. In addition, they set up a Research and Development center at HASETRI. In the year 1993, they introduced new radial tyres namely, Brute and Ultima and in the next year, they launched 'Jet Track-39' to meet the need of the heavy load market.
In June 1997, the company acquired 51% stake in Vikrant Tyres Ltd from Karnataka Government. They launched India's first H-Rated tyre. During the year 1998-99, as per the Scheme of Arrangement between the company and JK Drugs & Pharmaceuticals Ltd, the pharmaceutical undertaking of the company was transferred to and vested in JK Drugs & Pharmaceuticals Ltd with effect from appointed date July 1, 1996.
During the year 2002-03, as per the Scheme of Arrangement and Amalgamation between the company, JK Agri, JK Sugar and Vikrant Tyres Ltd, the agri-genetics undertaking of the company was transferred to JK Agri, the sugar undertaking was transferred to JK Sugar and Vikrant Tyre Ltd was amalgamated with the company. During the year 2004-05, the expansion of capacity of Truck/ Bus Radials by 50% was completed. In addition, the expansion of the passenger radial capacity was completed.
In December 2006, as per the Scheme of Arrangement and De-merger between the company and Netflier Technologies Ltd (name since changed to Netflier Finco Ltd), the business of holding and dealing in investments and some other assets and properties of the company and liabilities and obligations thereof stood transferred to and vested in Netflier Finco Ltd. In addition, Hansdeep Investment Ltd, Hidrive Finance Ltd, Panchanan Investment Ltd and Radial Finance Ltd ceased to be the subsidiaries of the company.
During the year 2006-07, the company introduced a new tyre, offering high mileage 'Jet One' and launched new Semi-Lug and Rib pattern Truck Radial tyres. They also diversified into Special Application Tyres and commenced their exports. In order to capture the brand 'JK Tyre' and their value in the name of the company, they changed their name to JK Tyre & Industries Ltd with effect from April 2, 2007. The company entered into an arrangement with BEML for supply of OTR tyres on a long-term basis.
In June 2008, the company acquired the controlling interest in Empresas Tornel, S A de C V (Tornel), a company incorporated under the laws of Mexico, by acquiring 100% of their equity capital for a consideration of USD 28.75 million. Tornel has three tyre manufacturing plants in Mexico with a combined capacity of 6.6 million tyres per annum
During the year 2008-09, the company doubled the capacity of Truck/Bus Radial plant to 8.00 lakh tyres from 3.67 lakh tyres per annum at an estimated project cost of Rs 315 crore. This has further strengthened JK Tyre's commanding position in the fast growing Truck/Bus segment.
The company has undertaken a project for substantial expansion of their OTR tyre capacity at a capital outlay of Rs 120 crore, which is expected to be completed by 2010.