Stay updated with breaking news from Tyre Demand. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
JK Tyre Chairman and MD, Raghupati Singhania expects the domestic tyre demand will remain strong due to the automobile industry's growth and a positive economic environment. The company's consolidated net profit surged five-fold to Rs 249 crore in the September quarter, largely due to its strong performance in the domestic market.
New Delhi, Nov 5 (PTI) Demand for tyres in the domestic market is expected to remain robust going ahead as the automobile industry continues to scale new highs amid a positive economic environment, JK Tyre Chairman and Managing Director Raghupati Singhania said.
The company - which currently is utilising 95% of its available capacity of 155.11 lakh tyres per annum- plans to expand capacity by about 20% by October 2025. The expansion is proposed to be funded by way of equity/internal accruals and debt. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries told ET, the company is planning fresh investments to increase capacity amid robust demand in the local market.
CEAT Ltd MD & CEO Arnab Banerjee believes that rural demand for two-wheeler tyres in the replacement segment is yet to fully recover. However, he is optimistic that the festive season will boost demand. Banerjee also highlighted the uncertainty over crude-based raw material costs due to rising crude prices, which could impact future growth.
Ceat Tyres: CEAT Ltd MD & CEO Arnab Banerjee believes that rural demand for two-wheeler tyres in the replacement segment is yet to fully recover. However, he is optimistic that the festive season will boost demand. Banerjee also highlighted the uncertainty over crude-based raw material costs due to rising crude prices, which could impact future growth.