Cavendish, A Subsidiary Of JK Tyre Records 72% Profitability

Cavendish Industries Ltd. (Cavendish), a subsidiary of  JK Tyre & Industries Ltd. has reported a record performance for Q3:

i)             Sales at Rs.788 crores up by 18%

ii)           EBITDA at Rs.157 crores jumps by 38%; and

iii)         Profit before Tax at Rs.92 crores up by 72%  

Dr Raghupati Singhania, Chairman, stated "increased volumes in Truck tyres both Radial and Bias, LCV and Agricultural  tyres  have  contributed  to higher Sales.   Cavendish,  during  the Qtr, operated all its 3 plants at 95% capacity utilization, and also achieved best ever Operating efficiencies on several parameters".

He further mentioned about JK Tyre-Cavendish "the demand recovery in the market is quite robust across segments. Larger commercial tyres are also moving well with replacement demand clocking 30%  growth and OEMs offtake slowly coming back. Cavendish looks forward to sustained improvement in Sales and Profitability in the coming period".

Also See:JK Tyre Is The OEM Tyre Supplier For Hyundai Creta

About Cavendish Industries Ltd:

Cavendish Industries Ltd. (CIL), houses 3 Tyre Business Undertakings of Birla Tyres and was acquired by JK Tyre in 2016.  The plants are located at Laksar (Haridwar) which manufacture a range of tyres, tubes and flaps.  With this acquisition, JK Tyre now has 12 tyre plants - 9 tyre plants in India & 3 in Mexico.

CIL is a subsidiary of JK Tyre with majority shareholdings through direct holdings and the balance through its subsidiaries and Associates. 

About JK Tyres:

The flagship company of JK Organisation, JK Tyre & Industries Ltd is one of India's foremost tyre manufacturers and is also amongst the top 25 manufacturers in the world.

For the past four decades, JK Tyre has been at the forefront of driving innovation and excellence in the tyre industry through the introduction of ground-breaking technologies and products that cater to diverse business segments in the automobile industry.

Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. In 2019, the Company achieved a remarkable feat by entering the coveted Limca Book of Records with the country's largest off-the-road tyre - VEM 045. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three-wheelers.

Also See:JK Tyre Might Send Rs.700 Crore In Advertising Alone

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