JK Tyres Registers Record Surge In Export And Replacement

JK Tyre sees green shoots in the tyre sector demand revival in December 2019.  While commenting on this, Sanjeev Aggarwal, Chief Financial Officer said “in pursuit of its long term growth plans and to combat the temporary slow-down in the OEM market, JK Tyre has adopted a twin strategy to increase its revenue from replacement and export markets”.

He further mentioned, “that JK Tyre has developed specific products for the international markets with a view to enhance its market presence and improve its exports globally.  JK Tyre has recorded an impressive growth of more than 40% in export sales in the month of December 2019 as compared to corresponding month of last year”. 

Exports contributed 11% of its total revenue in FY 2019 and is expected to record growth of more than 50% in the current financial year, the company said.

In the domestic replacement market as well, the company has increased its sales by more than 18% on y-o-y basis in December 2019, it added.

This twin strategy has worked out well.  The company is expecting to get the benefit of this twin strategy and focus on replacement and export markets in time to come, the company said in the statement.