Page 3 - Jk Tyre

India fastest growing market, 25% growth expected in 2024-26: Bridgestone

Japanese tyre major Bridgestone expects to clock 25 per cent growth in revenue between 2024 and 2026 in India, which is its fastest-growing market globally, according to senior company officials. The company, which on Wednesday launched its 'Turanza 6i' premium range of passenger vehicle tyres developed specifically for the Indian market, will be increasing its tyre production to 40,000 per day in the next four to five years from the current 30,000 per day. "The size of the business (in India) out of our total global portfolio today is limited. However, it is the fastest-growing business portfolio in our global business. So that's why huge attention is there and strategic attention is here in India," Bridgestone India Managing Director Hiroshi Yoshizane told PTI in an interview. He said Bridgestone is already a leader in the aftermarket segment of passenger vehicle tyres in India with around 20 per cent share and the company's goal is to strengthen its position further. When asked

Growth momentum to continue amid positive economic scenario: JK Tyre

JK Tyre expects demand momentum to continue for the tyre industry in the medium to long term, with the automobile industry set to grow amid a positive economic environment, according to a top company official. In an interaction with PTI, JK Tyre & Industries MD Anshuman Singhania expressed hope that the tyre maker would also continue to witness momentum in its top line and profitability. For the third quarter ended December 2023, the company reported a three-fold increase in its consolidated net profit to Rs 227 crore. Its revenue from operations rose to Rs 3,688 crore for the October-December period against Rs 3,613 crore in the year-ago period. "We are very optimistic in terms of the medium to long-term demand, which is coming in. We are seeing that private sector capex cycles have really started to kick in," Singhania said. There is an increase in disposable incomes, which is leading to positive buying sentiments, he added. "So, in all, we see that the economy is going to be i

JK Tyre and Industries Q3 results: Profit rises three-fold to Rs 221 cr

On a sequential basis, the company exhibited a 5.39 per cent decline in revenue along with PAT, which also declined by 8.79 per cent. The EBITDA grew by 61 per cent year-on-year, reaching Rs 563 crore

JK Tyre and Industries Q3 results: Profit rises three-fold to Rs 221 cr

This is the fifth straight rise in quarterly profit for the company, which counts Tata Motors and Maruti Suzuki India as its customers

JK Tyre successfully raises Rs. 500 cr through QIP for growth initiatives

The funds raised will be utilised for both strengthening the balance sheet and growing capex

JK Tyre raises Rs 500 cr; to be used for capex, strengthening balance sheet

JK Tyre & Industries on Monday said it has raised Rs 500 crore by way of qualified institutional placement (QIP). The QIP received an overwhelming response from marquee investors including Indian mutual funds, insurance companies and foreign institutional investors, the tyre major said in a statement. "This is an important milestone in our corporate journey. Participation of several reputed investors in the issue endorses their faith and confidence in the company's growth story," JK Tyre Chairman and Managing Director Raghupati Singhania stated. QIP funds will be used for the purpose of growth capex and strengthening of the balance sheet, he added. JK Tyre shares were trading 0.16 per cent up at Rs 399 apiece on the BSE.

Sensex gains 230 pts; Suraj Real Estate drops 7%, Adani Green rallies 5.5%

Closing Bell on December 26, 2023: On the downside, the Nifty Media index fell 0.58 per cent, and the Nifty IT shed 0.4 per cent

We have developed an 80% biodegradable tyre: JK Tyre CMD Singhania

Average selling price of tyres will 'slightly move up', he says in interview about where industry is headed

Five Indian tyre makers ranked among global top 30 manufacturers: Report

Five Indian companies featured among the top 30 tyre manufacturers globally, according to a report by Automotive Tyre Manufacturers' Association (ATMA). In the 'Tire Business Magazine's 38th Global Tire Report' by ATMA based on revenue in 2022, Apollo, MRF, JK Tyre, CEAT, and Balkrishna Industries (BKT) from India featured in the top 30 list. As per the report, Apollo is at the 13th position and MRF at the 14th, JK Tyre at 19th, CEAT at 22nd and BKT at 27th in the top 30 list. Michelin, Bridgestone, Goodyear, and Continental continue to occupy the top four spots, the report said. "For quite a few years, we had only three Indian companies in the top 30. CEAT made an entry in the coveted list a couple of years ago and now BKT also finds a pride of place," ATMA Director General Rajiv Budhraja said in a statement. ATMA said in the last 10 years, Apollo has moved up four places, while JK Tyre has advanced six places. On the other hand, CEAT moved up 13 places, while off-road major BKT

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

JK Tyre records net profit surge of nearly five-fold to Rs 242 cr in Q2FY24

On a sequential basis, the company exhibited a 4.83 per cent increase in revenue and the PAT increased by 57.35 per cent, respectively

JK Tyre & Industries Q1 PAT jumps four-fold to Rs 153.87 cr, revenue up 2%

In the June quarter the company successfully depleted its previously held high-priced inventory due to steady raw material costs

JK Tyre & Industries profit rises over 4-fold to Rs 159 cr in June quarter

JK Tyre & Industries on Friday reported an over four-fold rise in consolidated net profit at Rs 158.59 crore for the first quarter ended June 30, 2023. The company had posted a consolidated net profit of Rs 35.13 crore for the same period of the last fiscal, JK Tyre & Industries said in a regulatory filing. Revenue from operations was at Rs 3,718.08 crore as compared to Rs 3,643.03 crore in the year-ago quarter, it added. Total expenses were lower at Rs 3,489.01 crore as against Rs 3,557.97 crore in the same period a year ago. "The financial year 2024 has started on a positive note, in terms of better profitability as a result of our continued focus on premiumisation of the product mix, indeed aided by stable input costs," JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said. He further said, "We are witnessing buoyancy in demand in the replacement and OEM segments across product categories, driven by a healthy macro-economic environment. Export ...

JK Tyre surges 10% on completion of first phase of capacity expansion

On Friday, June 30, the stock surpassed its previous high of Rs 213.50, touched on December 9, 2022

JK Tyre finishes 1st phase of capacity expansion of Madhya Pradesh facility

JK Tyre & Industries on Thursday said it has completed the first phase of capacity expansion of its passenger car radial tyre manufacturing facility in Banmore, Madhya Pradesh with an investment of Rs 312 crore. The expansion will result in a 31 per cent increase in the plant's annual output capacity, from 39 lakh units to 51 lakh units. The second phase of expansion is expected to be completed by April 2024 with an additional investment of Rs 617 crore, further enhancing the production capacity of the plant by 31 per cent. "The expansion of this manufacturing facility reflects our unwavering dedication to innovation, sustainability, and our substantial contribution to the growth story of Madhya Pradesh," JK Tyre & Industries Chairman & Managing Director Raghupati Singhania said in a statement. The company's production and manufacturing capabilities are constantly evolving along with product range in order to meet the demands of customers, both domestically and ...

Analysts see rich valuations for paint, tyre stocks; time to book profit?

Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex

Stocks to Watch today, May 18: HDFC Bk, Vedant Fashions, MM Forgings, NDTV

Stocks to Watch on Thursday: JK Tyre's net profit surged to Rs 111.56 crore in Q4FY23 from Rs 38.22 crore reported last year

JK Tyre reports nearly three-fold increase in Q4 profit to Rs 108 cr

BENGALURU (Reuters) - India's JK Tyre & Industries Ltd on Wednesday reported a nearly three-fold rise in fourth-quarter profit, as raw material costs fell and domestic demand saw a boost.

Tyre stocks rally up to 8% on MRF's strong Q4 results; Apollo at 52-wk high

MRF's board has recommended a final dividend of Rs 169 (1,690 per cent) per share

International Finance Corp to buy 5.6% stake in JK Tyre for $30 million

JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre & Industries will part-finance the expansion of manufacturing capacities and integrate advanced, resource-efficient technologies in the production of commercial and passenger car radial tyres, which have better safety and longevity, the company said in a regulatory filing. Subsequently, International Finance Corporation (IFC) will hold a 5.6 per cent stake in the tyre major through the issue of compulsorily convertible debentures (CCDs) on a preferential basis, it added. "The investment aims to bolster the company's capital structure and increase production of energy-efficient radial tyres by more than 10 per cent -- from 32 million to over 35 million tyres a year by 2025," JK Tyre & Industries said. This aligns with ..