PRESS RELEASES

JK TYRE ANNOUNCES Q1 (APRIL - JUNE 2017) RESULTS

New Delhi – 14th August 2017 : JK Tyre & Industries Ltd. (JKTIL) today announced Un-audited results for the Quarter ended June 2017.

Commenting on the results, Dr. Raghupati Singhania, Chairman & Managing Director said, “we are indeed passing through challenging times. The raw material costs increased by about 30% over the corresponding quarter. Such steep increase in prices of raw materials without commensurate increase in selling prices dented margins. Moreover, unabated imports of cheap Chinese radial tyres impacted both volumes as well as prices of Truck/Bus radials. In addition, Commercial Vehicle manufacturers cut production, to destock inventories and transition to new emission norms. Dealers in the replacement market also, were reluctant to off take tyres before GST introduction. JK Tyre being a market leader in Truck/Bus radial segment in both OEM and replacement segment had to bear the brunt.”

On a positive note, Dr. Singhania felt, that with the smoothening out of the GST roll out, the situation is likely to be somewhat better in the coming months. Expected imposition of anti dumping duties on cheap Chinese imports will be a welcome step and should improve the commercial tyre market.

JK Tyre continues to enlarge the width and depth of its distribution network as replacement market accounts for 60% of its sales.

The newly acquired 2-3 wheeler capacity in Cavendish is gaining market share in the segment, despite the economic disruptions caused in the recent months.

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 35 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 230 dedicated outlets branded as Steel-Wheels & has over 25 Truck Wheels providing complete solutions to Truck Tyre customers.

For further information, please contact: