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Mar, 11 2019

Tyre manufacturer BKT working on Rs 2,000 cr expansion plan in India

The company is eyeing at setting up a modern carbon black manufacturing facility at its plant in Bhuj, Gujarat.

In a bid to meet the increasing demand of its products globally, Balkrishna Industries Limited (BKT), an off-highway tyre manufacturer, is working on a Rs 2,000 crore expansion plan in India.

The company is eyeing at setting up a modern carbon black manufacturing facility at its plant in Bhuj, Gujarat.

Arvind Poddar, CMD of BKT, said, "The company is working on a Rs 2,000 crore expansion plan."

At present, BKT's share in the off-road tyre market in India is 7-8%. It is planning to increase the share to 15% in the next three to four years.

"The company will shift its Aurangabad plant to a new location. The project will be completed in 18 months at a cost of Rs 450 crore. The company has five facilities in Maharashtra, Rajasthan and Gujarat," Poddar stated.

He further added, "During the last financial year 2017-18, the company’s turnover stood at Rs 4,500 crore. We are expecting this will increase to Rs 5,000 crore during the current financial year. We are expecting 10-15% growth in the years to come."

BKT is mainly exporting its tyres to Europe, America and Australia. Europe currently accounts for about 52% of its total exports.

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