JK Tyre records excellent performance for 2009-10

JK Tyre & Industries Ltd. (JK Tyre),  an Indian global tyre manufacturer of well known brands  “JK TYRE”,  “VIKRANT” &  “TORNEL”, has reported excellent performance  for the year 2009 - 10 with Sales and other income at an all-time high of Rs.3971 Crores and Profit After Tax (PAT) for the year at Rs.163 Crores.

Commenting on the performance, Dr. Raghupati Singhania, Vice Chairman & Managing Director said, “This was a year full of  challenges & achievement.  Apart from achieving all time high sales, JK Tyre  recorded an excellent profitability for the year 2009-10 on account of all-round improvement in operating efficiencies, higher productivity, cost reduction measures and richer product mix.  The Company has stepped up the Dividend to Rs.3.50 paisa per share.

Dr. Singhania further added “Tornel, Mexico which was acquired last year, has made a turnaround and recorded an impressive performance during the year. Tornel has contributed to JK Tyre’s growth both in top line as well as profitability.

Our ongoing expansion of Off the Road Tyre (OTR) and Car Radial Tyres are progressing as per schedule. Truck and Bus Radial Tyre capacity is being further expanded from 8 lac tyres to 12 lac tyres p.a.  In addition, Car Radial Tyre capacity is being further expanded by 25 lac tyres p.a.

Automobile Industry in India  having made an impressive recovery last year, continues to consolidate and perform   well in the current year as well.    Expected GDP growth of 8 - 9%  in the current year and continuing good performance by the Automobile Industry,   augurs well for the Tyre Industry which is poised to grow in the years ahead. JK Tyre is fully geared to consolidate its leadership position further  in this growing market. 

With the completion of several on-going expansions, the Company  looks to promising times ahead.  

About JK Tyre & Industries Ltd.
JK Tyre & Industries Ltd. has been ranked as No. 1 in JD Power Customer Satisfaction Index in 2009 and is the first and only Tyre Company to be awarded ‘Superbrand’. It is the flagship Company of   JK Organisation known for manufacturing leading tyre brands - JK Tyre, Vikrant and Tornel. JK Tyre is India's leading four-wheeler tyre manufacturer and the 22nd largest tyre manufacturer in the world.  As the pioneers of radial technology in India, the Company has taken forward the radial revolution in the Truck and the Bus segments. Over the years, JK Tyre & Industries has achieved innumerable feats including the top honours such as "The Brand Equity Award", "Rajiv Gandhi National Quality Award", "CII - Exim Bank Award" and several other awards. With a distribution network of over 4000 dealers and over 120 stocking points, the Company has left a mark across every Indian road treading into every nook and corner of the country.