Feb 12, 2018

JK Tyre - Q3 Results – Sales Jump 16%



Rs. (in crores)

Net Sales->2135
Operating Profit ->225
Profit Before Tax -> 23
Profit After Tax ->11

New Delhi, India |February 12, 2018 ::Tyre manufacturer JK Tyre & Industries Ltd. (JKTIL) today announced the unaudited results for Q3, ended December, 31, 2017, on a consolidated basis. The company clocked Net Sales of Rs. 2135 crores for the Quarter, which was 16% higher than the corresponding period. On a standalone basis, JK Tyre recorded a 22% higher Net Sales at Rs. 1744 crores.

Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd., said “JK Tyre has successfully made deeper inroads in the market with substantial increase in its sales both on consolidated as well as standalone basis. The company continues to enjoy the leadership position in truck/bus radials apart from mustering higher volumes across all segments.”

The imposition of much awaited anti dumping duty on cheap Chinese truck/bus radial tyres is indeed a welcome step and will further help enhancing volumes.

A labour restructuring was successfully completed at Tornel, Mexico, which impacted the operations during the quarter, however, will give rich dividends in the coming period.

About JK Tyre:

Part of the JK Organisation, JK Tyre & Industries Ltd is a leading tyre manufacturer in India and amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments in the automobile industry. JK Tyre is the only tyre manufacturer in India to be included in the list of Superbrand in 2017, the sixth time the honour has been conferred upon the company.

JK Tyre has global presence in 100 countries across six continents, backed by production support from 12 plants - 9 in India and 3 in Mexico. Currently, the capacity across all its plants is about 32 million tyres per annum. In April 2016 JK Tyre acquired Cavendish India Limited from Birla Tyres. While acquisition added three modern plants to its portfolio taking the total count to 12, it helped the tyre major foray into the two/three wheeler segment as well.

Pioneers of radial technology, JK Tyre produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. With over three decades of technological innovation, JK Tyre offers tyre for entire range of passenger and commercial vehicles, starting from a 3 kg two-wheeler tyre to a 3.5 ton OTR tyre.

JK Tyre & Industries Ltd has a strong network of 4000 dealers and over 250 dedicated outlets branded as Steel-Wheels & has over 30 Truck Wheels providing complete solutions to Truck Tyre customers.

For further information, please contact:

Mr A K Kinra

Finance Director

JK Tyre & Industries Ltd.

Patriot House, 3 Bahadur Shah Zafar Marg

New Delhi – 110 002

Phone: 011 – 30179110 / 2331 7753

Mr Sanjay Sharma

Head - Corporate Communications

JK Tyre & Industries Ltd.

Patriot House, 3 Bahadur Shah Zafar Marg

New Delhi – 110 002

Phone: 011 – 30179365