JK Tyre, Ceat up tyre prices by up to 4%

JK Tyre & Industries Ltd. | Tyres & Allied | Automobiles | BSE: 530007 | NSE: JKTYRE

12 Oct 2009 Evaluate

Tyre manufacturers have hiked their prices by two to 4% from October 1 due to a substantial escalation in the price of its key raw material, natural rubber, in the last five to six months. Natural rubber prices have risen about 50% to Rs10,500/100 kg in the last six months, according to Rubber Board data. Rubber accounts for about half of the total raw material cost of tyre companies.

JK Tyre & Industries has hiked the price of its heavy commercial vehicles tyres by 2%, of light vehicles by three to 4% and of other vehicles by two to 3%. JK Tyre & Industries is one of the leading automotive tyre manufacturers in India and the 17th largest in the world. The company has four tyre plants located in Rajasthan, Madhya Pradesh and Karnataka. RPG Group's Ceat Limited has also increased prices of both its two-and-three-wheeler tyres by two to 3% from October 1. Tyre prices of heavy commercial vehicles are likely to be raised by two to four%in the third week of this month. Apollo has so far been absorbing the higher costs, now it was assessing the situation on a day-to-day basis and if it decides to undertake a price hike, it will be done gradually.

The last price increase took place in October 2008, and in February this year, producers reduced the prices of heavy commercial vehicle tyres by about 9% following a cut in excise duty from 14% to 8%.

Import of rubber is not a viable option at this point of time as the difference between local prices and imported prices have narrowed down to Rs2-3 per kg from Rs18-20 earlier. In the April-August period, rubber production in India fell 13%as compared to the same period last year to 2,73,575-tonnes. Automotive tyre exports fell 22%in July to 4,46,418 units as against 5,71,479 units registered in the same period last year. In fact, there has been a steady drop in exports in the last few months.

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JK Tyres & Inds. Share Price

410.05 -5.00 (-1.20%)

07-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
MRF	129980.20
Apollo Tyres	410.15
CEAT	3356.80
Balkrishna Inds.	2259.10
JK Tyres & Inds.	410.05
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