JK Tyres and Industries, a part of the J.K. Group of companies, was established in 1974.
Image: company website
It started manufacturing tyres in 1977 starting with 0.5 million tyres produced per year, and currently it has a capacity of more than 16.6 million tyres per annum across its manufacturing facilities in India and Mexico. It has six manufacturing units in India – 3 in Mysore (Karnataka), 1 in Banmore (Madhya Pradesh), 1 in Kankroli (rajasthan) and 1 in Chennai (Tamil Nadu).
It acquired Mexican tyre major Tornel in 2008 that has 3 manufacturing plants in Mexico with a combined capacity of 6.6 million tyres per year. Its total production capacity stands at more than 20 million tyres per annum. It allows it to acquire additional manufacturing at low cost. Also it allows it to easily access the US and Canadian markets along with other emerging Latin American markets as a result of the NAFTA agreement (North Atlantic Free Trade Agreement).
It also acquired Cavendish Industries Limited (CIL) in Apr, 2016 that gives JK Tyres entry into the two and three wheeler category. It earns 80% of its revenue from the Truck segment (Truck – 67%, Light Truck – 12%).
Its customer include all the Original Equipment Manufacturers in India along with replacement market for vehicles. It exports to over 100 countries across the world. It has a constant focus on product quality and R&D. It was the first tyre company in Asia to receive ISO 50001 (for energy management system) and second in the world. It multiple collaborations with universities including IITs. Its own R&D center, called HASETRI for Elastomer & Tyre R&D, is the Asia’s first and India’s biggest research centre.
Market Capitalization: Rs 2067 Cr
Net Sales: Rs. 5895 Cr
Production: 1770 MT/day (plus 340 MT/day in Mexico)