Tag: JK Tyre

Bridgestone and MRF top JD Power India OE tyre survey

Bridgestone and MRF top JD Power India OE tyre survey

25th April 2016 | 0 Comments

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.

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Cavendish now a JK Tyre subsidiary

18th April 2016 | 0 Comments

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.

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Quarter profits up 20.5% for JK Tyre despite lower revenues

9th February 2016 | 0 Comments

JK Tyre & Industries Ltd has posted a consolidated net profit of Rs 1,106.4 million (£11.3 million) for the quarter ending 31 December 2015, a 20.5 per cent increase on the consolidated net profit achieved a year earlier. Total income for the three-month period was down 12.0 per cent year-on-year, to Rs 16,207.5 million (£164.9 million).

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JK Tyre production affected by Chennai flooding

7th December 2015 | 0 Comments

Following Apollo’s admission that flooding in Chennai had affected its tyre factory, JK Tyres has reportedly experienced disruption to eight of its shifts. This equated to roughly 700 tons of tyres, according to the local Business Standard newspaper.

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Asian Latex Conference and India Rubber Summit & Dinner 2015 held

Asian Latex Conference and India Rubber Summit & Dinner 2015 held

14th September 2015 | 0 Comments

The Asian Latex Conference 2015 and India Rubber Summit & Dinner 2015, which were held between 10 – 12 September 2015, were hosted at the Crowne Plaza, Kochi, by Rubber Asia. The awards in recognition of outstanding contributions to different segments of the rubber industry were presented at a ceremony during the India Rubber Summit and Dinner 2015.

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JK Tyre acquires Kesoram subsidiary, tyre factory

14th September 2015 | 0 Comments

The acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. has been approved by the Board of Directors at JK Tyre & Industries. The Indian tyre maker is acquiring 100 per cent equity in Cavendish from Kesoram Industries Ltd. for just under Rs 22 billion (£214.6 million). According to JK Tyre, it and other JK Group companies will fund the acquisition by a combination of debt and internal accruals, and JK Tyre’s financial exposure is expected to be some Rs 4.5 billion (£43.9 million). The deal is expected to close in December 2015.

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JK Tyre calls for tariffs on Chinese tyres, release quarter results

5th August 2015 | 0 Comments

The latest quarter figures for JK Tyre & Industries were released along with a challenge for India’s government to impose tariffs upon tyres imported from China. Company chairman and managing director Dr Raghupati Singhania stated on 4 August that the “menace” posed by the “dumping of Chinese tyres” continues “unabated”. He added that “urgent steps are required to impose [an] anti-dumping duty to ensure a level playing field in the marketplace.”

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JK Tyre denies Birla acquisition report

6th July 2015 | 0 Comments

Indian manufacturer JK Tyre denies it is negotiating the acquisition of Birla Tyres with current owner Kesoram Industries. Responding to an article published by Indian financial daily The Economic Times earlier today, the tyre maker told BSE Ltd (the Bombay Stock Exchange) that “there is no transaction between JK Tyre & Industries Ltd. and Kesoram Industries Ltd.”

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JK Tyre names Vivek Kamra as president – India

8th June 2015 | 0 Comments

JK Tyre & Industries Ltd has appointed Vivek Kamra as its president – India. The news follows Arun K Bajoria’s promotion to the role of ‘director and president – international operations’. Bringing with him 20 years’ experience, Bajoria will be leading JK Tyre’s international operations including JK Tornel, Mexico and special “strategic assignments”.

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JK Tyre appoints new president of India business

JK Tyre appoints new president of India business

4th June 2015 | 0 Comments

JK Tyre & Industries has named Vivek Kamra its president - India. Kamra’s appointment to the role follows Arun K Bajoria’s promotion to the position of director and president – international operations.

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Turnover down, profits up at JK Tyre & Industries

28th May 2015 | 0 Comments

While JK Tyre & Industries was unable to maintain turnover in the previous financial year, profits at India’s third-largest tyre maker rose significantly. The company reports that turnover decreased 3.6 per cent to Rs 73.3 billion (£743.9 million) during the 2014/15 financial year, which ran from 1 April 2014 to 31 March this year. Operating profit rose 11.7 per cent to Rs 7.7 billion (£78.1 million) while net profit jumped 26.7 per cent to Rs 3.2 billion (£32.5 million).

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JK Tyre reports US$ million 3Q net profit

16th February 2015 | 0 Comments

Indian tyre manufacturer JK Tyre has reported consolidated net profits of $14.8 million for its third quarter of 2014, which ended 31 December 31, 2014. The quarterly profit report represents an increase of more 56 per cent compared with the same period last year. JK Tyre’s turnover in the period amounted to $322 million. Raghupati […]

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India’s JK Tyre improves debt rating

23rd January 2015 | 0 Comments

JK Tyre & Industries has raised its short and long term debt ratings from A1 to A1+ and A to A+ respectively. Arun K Bajoria, president of JK Tyre, told The Times of India that the improved credit ratings were “testimony to JK Tyre's strong fundamentals.”

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India’s tyre makers meet government to talk rubber prices

18th December 2014 | 0 Comments

Regional government ministers in India met with tyre makers on 18 December to discuss rubber prices. Chief minister of the state of Kerala, Oomen Chandy has chaired a meeting which proposed a minimum guaranteed price for rubber growers – a price of around Rs 125 to 130 (£1.25 to £1.30) per kilogramme was suggested. In recent times the price paid to Indian rubber growers has dipped as low as Rs 90 per kilogramme, a price considered unsustainable.

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JK Tyre a Superbrand again

JK Tyre a Superbrand again

2nd December 2014 | 0 Comments

JK Tyre has been chosen as a Superbrand for the year 2013-14 and ranked amongst the top ten per cent of all brands, across categories in India. This is the third year in a row that Superbrands India has chosen JK Tyre as a Superbrand, and so far it is the only Indian tyre brand to be chosen as a Superbrand. This year, the company improved its overall net score from 6.8 to 7.6 out of 10.

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