JK Tyre Records Surge in Export & Replacement Sales

JK Tyre is seeing demand revival in the tyre sector. According to Sanjeev Aggarwal, CFO, JK Tyre has adopted a twin strategy to increase its revenue from the replacement and export markets. "In pursuit of our long term growth plans and to combat the temporary slowdown in the OEM market, JK Tyre has developed specific products for the international markets with a view to enhance its market presence and improve its exports globally," he said.

JK Tyre recorded an impressive growth of more than 40% in export sales in the month of December 2019 as compared to the corresponding month of last year. Exports contributed 11% of its total revenue in FY 2019 and is expected to record an impressive growth of more than 50% in the current financial year. In the domestic replacement market as well, the company increased its sales by more than 18% on y-o-y basis in December 2019. The company plans to focus on the replacement and export markets in times to come.