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J K Tyre & Industries aims to reduce debt by over 50% in three years, banks on exports and replacement mkt to de-risk biz

Jan 6, 2020, 11:11 PM IST

Already sitting on a debt of Rs 5000 crore, the company has decided to defer Rs 675 crore investment by a year in Cavendish Industries (a firm it acquired in 2016 from B K Birla Group) to ensure lean operations. With series of cost cutting initiatives and expected improvement in capacity utilisation, the company’s CFO Sanjeev Aggarwal said J K Tyre is planning to pare its debt to more than half in the coming three years.

Michelin launches new tyre range for passenger vehicles in India

Dec 9, 2019, 02:38 PM IST

The new range, priced from Rs 5,090, would be available at the company's authorised dealers across the nation in 30 sizes (12-16 inch) from early next year.

Budget 2019: Tyre industry finds budget a mixed bag

Jul 5, 2019, 06:25 PM IST

What will lend an impetus to the auto and tyre sectors is Finance Minister’s proposal to invest Rs 100 lakh crore in the infrastructure sector over next five years.

IRFPC hopes to start tyre production by the end of 2019

Jun 24, 2019, 06:08 PM IST

The company plans to start with 2000 tyres a day and scale it up to 5000 tyres gradually.

Tyre sector may grow 7-9% in 5 years buoyed by demand, lower crude

Dec 31, 2018, 05:39 PM IST

The domestic tyre industry has benefited from strong growth in both original equipment (OE) and replacement segments in the ongoing fiscal.

Apollo Tyres ropes in Sachin Tendulkar as brand ambassador

Nov 22, 2018, 03:46 PM IST

This is the first time that the company has associated with a celebrity as the face of its brand.

CEAT extends bat deal with Rohit Sharma by 3 years

Oct 31, 2018, 03:50 PM IST

“We are proud to extend our relationship with Rohit who has been a stand out performer across all formats of cricket", said Anant Goenka, CEAT MD.

CEAT sops spark hope of big-ticket investments in Tamil Nadu

Jun 30, 2018, 11:07 AM IST

The sops for the tyre maker have raised expectations of revised deals for the state’s existing manufacturers, but industrialists say that a one size-fits-all approach may not work.

PCBL to set up greenfield carbon black plant in Tamil Nadu for Rs 600 crore

May 4, 2018, 05:47 PM IST

The new initiatives would raise the country's largest carbon black maker's capacity by another 50 per cent to 7 lakh tonnes.

Atma seeks commerce min help to resolve carbon black shortage

Feb 27, 2018, 06:36 PM IST

Atma has also asked the carbon black manufacturers body to reveal the stock that is available for offtake.

Tyre industry asks govt to allow duty-free import of carbon black

Feb 19, 2018, 07:36 PM IST

An ongoing crunch in the domestic availability of carbon black has forced several domestic tyre firms to shut down units in the recent past: Industry body

Apollo Tyres to invest Rs 1800 crore in first phase in Andhra Pradesh

Jan 9, 2018, 04:06 PM IST

The resources earmarked are for developing the first phase of the unit, for which the company has procured 200 acres of land from the state government.

Tyre companies hope for 'achhe din' with fall in Chinese imports

Dec 30, 2017, 11:12 AM IST

Imports of truck and bus radials (TBR) have dropped by around 50% to 75,000 tonnes a month after the government imposed anti-dumping duty in September.

Apollo tyres plans to use Rs 1,500-cr QIP proceeds to expand operations

Dec 27, 2017, 08:47 AM IST

Apollo Tyres has, in fact, firmed up plans to invest Rs 525 crore in a greenfield facility in Andhra Pradesh, construction work of which is expected to commence in January 2018.

Indian tyre makers rue shortfall of natural rubber

Dec 5, 2017, 12:05 PM IST

The tyre industry has been importing block rubber available at?95 per kg to bridge the deficit between production and consumption.

Import of Chinese tyres has started to decline: ATMA

Nov 25, 2017, 06:36 PM IST

Noting that import of Chinese tyres has started to 'decline', Satish Sharma said, "the imports of Chinese tyres stood at 1,50,000 units in May 2016. Today it is 50,000 units and still going down."

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