ENP Newswire - 13 August 2014
Release date- 12082014 - JK Tyre & Industries Ltd. (JKTIL) announced its result for the 1st Qtr of 2014-15.
The Company achieved a turnover of Rs.2035 Crores with an Operating Profit of Rs.196 Crores and PAT of Rs.54 Crores on a consolidated basis as compared to Rs.44 Crores in the preceding Qtr. recording an increase of 24%.
Commenting on the results, Dr Raghupati Singhania, Chairman & Managing Director said, 'in the face of economic challenges which have continued for most of the first Qtr, the Company continues to perform well maintaining its leadership in Truck/Bus radials with highest market share in India. First signals of economic turnaround are in sight with Car industry registering a growth in the last 2 months. Commercial vehicles are also showing signs of improvement. This augurs well for the tyre industry and coming Qtrs should see improved performance in terms of volumes and profitability'.
He added, that JK Tornel, Mexico also continues to perform well and has added to both the top and bottom line of JK Tyre. Its expansion in the PCR category is progressing well and the increased output of PCR tyres is expected from next year onwards.
He further added, that JK Tyre expansion at an outlay of Rs.1430 Crores to add capacity in the TBR and PCR categories at Chennai Tyre Plant is also progressing as per schedule.
About JK Tyre & Industries Limited:
Part of the JK Organisation, JK Tyre & Industries Ltd is a leading four-wheeler tyre manufacturer in India and the 19th largest manufacturer in the world with a wide range of products catering to diverse business segments in the four wheeler automobile industry.
JK Tyre has global presence in 90 countries across six continents with nine plants in India and Mexico. With the commissioning of the Greenfield project in Chennai, the capacity across 9 plants exceeds 20 million tyres per annum milestone in India and Mexico, with firm plans for enhancement of Truck &Bus radial and Passenger Car radial capacity planned to meet the growing demand for its products.
JK Tyre pioneered radial technology in India way back in 1977 and is the leading Truck Bus Radial Manufacturer. With over three decades of technological innovation, JK Tyre offers four wheeler tyres for the entire range - Truck/Bus, LCV, Passenger Cars, MUV and Tractors. The company is the manufacturer of India's largest OTR Tyre VEM 045 40.00-57 60 PRE 4T/L weighing 3.7 tons and 12 feet high. JK Tyre is the preferred supplier to the automotive Original Equipment Manufacturers and is a partner to some of the biggest names including Maruti Suzuki, Tata Motors, Honda, Ashok Leyland, Mahindra & Mahindra, Volvo Eicher, General Motors, Volkswagen, Fiat, Nissan and TAFE.
The company lays special emphasis on establishing a wide distribution network. In India, its nationwide network comprises of 138 selling locations, 4,000 dealers and over 110 retail outlets branded 'JK Tyre Steel Wheels', which are equipped with state-of-the-art wheel servicing equipment. It has also established 18 Truck Radial Tyre Care centres, which operate along all major National Highways on 365 day, 24x7 basis. JK Tyre has established over 10 truck radial total solution showrooms branded 'Truck Wheels'. It was the first to introduce unique concepts like 'Dial-a-Tyre' and is the only tyre company to launch a 24x7 on-road tyre assistance initiative called 'Fix-a-Tyre'.
The company has taken many green initiatives and launched the 'Soles with Souls' programme, an eco-friendly initiative to use discarded tyres as lifestyle accessory, which has been acclaimed internationally.
JK Tyre actively promotes various disciplines of motorsports in India and has invested over INR 100 crores towards building its infrastructure. The Racing and Karting programmes are the breeding ground for the country's young motorsport talent and JK Tyre prodigies like Narain Karthikeyan, Armaan Ebrahim and Karun Chandhok have done India proud in the global arena.
FINANCIAL PERFORMANCE (Standalone)
Apr - Jun 14 Apr - Jun 13 Apr - Mar FY 14
Turnover 1737 1647 6577
Profit Before Tax 62 50 195
Profit After Tax 39 35 135