JK Tyre & Industries is reportedly aiming to achieve annual revenues of Rs 10,000 crore in FY17 following the completion of the Rs 2,200 crore acquisition which also gives it an entry into the two wheeler tyre segment. The company had revenue of Rs 7,800 crore in FY16.
As far as domestic sales are concerned, the company is hoping to emerge as the second largest player in the country. It hopes to turn around the Haridwar unit that it acquired in a year. The acquisition is being funded through a mix of equity and debt.
JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.
