Tag: JK Tyre
JK Tyre now 26% shareholder in Treel Mobility Solutions
In June and July, J.K. Organisation company JK Credit & Finance acquired 50.003 per cent equity shares in Indian start-up Treel Mobility Solutions Pvt. Ltd. JK Tyre & Industries has now obtained 26 per cent equity in the smart tyre system specialist from its group sibling and rebranded Treel as a ‘JK Tyre Product’. JK Tyre paid Rs 59.8 million for its 26 per cent share in Treel; JK Credit & Finance continues to hold 24.003 per cent in the company.
JK Tyre and Rivigo partner in TPMS, TaaS project
Indian logistics firm Rivigo has partnered with JK Tyre & Industries Ltd to introduce a patented Tyre Pressure Monitoring System (TPMS) that sends live tyre condition data every few seconds. The Rivigo-originated system – called TREEL - uses algorithms for predictive analysis and features demounting and anti-theft alerts.
India’s largest OTR tyre – JK Tyre enters the record book
JK Tyre & Industries has entered the Limca Book of Records – India’s answer to Guinness World Records – for having the country’s largest OTR tyre. This colossus is the VEM 045, a tyre that in size 40.00-57 stands 12 feet tall and weighs around 3.4 tons. JK Tyre introduced this specific tyre dimension as a fitment for India’s biggest rigid dump truck, a vehicle with a payload capacity of up to 240 tons.
JK Tyre opens first retread centre in Nepal
On 14 June JK Tyre & Industries Ltd inaugurated the first JK Retread Centre in Pokhara, Nepal. The new retread centre adds is part of JK’s bid in line with ambition to open 100 centres by 2020. Ultimately the goal is to provide cradle-to-grave solutions to customers.
New CFO at JK Tyre
India-based tyre maker JK Tyre & Industries Ltd. reports the appointment of Sanjeev Aggarwal as the company’s new chief financial officer. He commenced this role on 18 February, taking over from Ashok Kumar Kinra. Aggarwal, a Chartered Accountant, brings more than 27 years of experience in financial and related functions across various sectors.
Raw materials, tyre imports hammer JK Tyre in April-June quarter
“We are indeed passing through challenging times.” These were the words from Dr Raghupati Singhania after JK Tyre & Industries Ltd. released its final results for the first quarter of its 2017-18 financial year. Nevertheless, the chairman and managing director is confident that the company’s performance will improve moving forwards.
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.
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.
Tyre makers bidding for India’s Falcon Tyres
Several leading Indian tyre makers are said to be bidding to acquire Falcon Tyres Ltd., the company that supplies the Dunlop tyre brand in Indian market. The Economic Times reports that Apollo Tyres, JK Tyre and Ceat Tyres are amongst the leading bidders.
JK Tyre lifts sales & operating profit, net profit down
In the second quarter of its current financial year – the three months to 30 September – JK Tyre & Industries increased its total income by 5.2 per cent year-on-year to Rs 20.7 billion (£245.7 million) and lifted operating profit by 22.1 per cent to Rs 3.2 billion (£38.0 million). Operating margin rose from 13.2 per cent in the corresponding quarter of last year to 15.3 per cent. Meanwhile, net profit declined 13.5 per cent year-on-year to Rs 1.0 billion (£11.9 million).
Truck/bus radial production reaches 10M mark at JK Tyre
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).
JK Tyre to consolidate, boost R&D activities
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.
JK Tyre profits jump 41% in 2015-16
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.
Bridgestone and MRF top JD Power India OE tyre survey
Bridgestone and MRF have tied for first place in JD Power’s latest India Original Equipment Tire Customer Satisfaction Index (TCSI) Study. However, while they both ranked first in overall customer satisfaction, scoring 881. Bridgestone performed well in terms of ride (883) and MRF performed particularly well in appearance (884). Apollo came third, with JK Tyre fourth and Goodyear in fifth.
Cavendish now a JK Tyre subsidiary
JK Tyre & Industries Ltd reports that the acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. was completed on 13 April, and the company is thus now a JK Tyre subsidiary. The Indian tyre maker acquired 64 per cent of all equity shares in Cavendish for Rs 10 each; the remaining equity shares in Cavendish have been acquired by associate and group companies of JK Tyre.