DEG Invests €30 Million in JK Tyre for Madhya Pradesh Production Expansion

JK Tyre & Industries Limited, a leader in the tyre manufacturing sector, has consistently demonstrated a commitment to innovation, sustainability, and market excellence. With the recent EUR 30 million loan from DEG for production expansion in Madhya Pradesh, the company is set to strengthen its position in the tyre industry.

Dr. Raghupati Singhania, Chairman & Managing Director of JK Tyre & Industries Ltd. said “We are pleased to be associated with KFW-DEG for providing funding of EUR30 mn. for our Passenger Car Radial (PCR) tyre expansion project being set up for an estimated cost of EUR 114 mn.

Sustainable Expansion and Innovation

JK Tyre’s expansion in Madhya Pradesh focuses on Passenger Car Radial (PCR) tyres with a sustainable edge. This project reflects the company’s pledge to reduce its carbon intensity by 50% by 2030. By leveraging biomass-operated boilers and developing tyres using recycled materials, JK Tyre aims to contribute significantly to the UN’s environmental goals.

A Legacy of Excellence

Founded in 1951, JK Tyre has evolved into one of the world’s top 20 tyre manufacturers. With 11 manufacturing facilities across India and Mexico producing 35 million tyres annually, the company’s robust infrastructure ensures high-quality production standards. Its innovative Smart Tyre technology, featuring Tyre Pressure Monitoring Systems (TPMS), showcases its pioneering role in integrating technology with safety.

Recent Achievements

In 2024, JK Tyre reached a milestone by rolling out its 30 millionth Truck/Bus Radial tyre, a first for any Indian company. This achievement complements the company’s accolades, including being recognised as one of India’s Best Companies to Work For in 2024 and being a 5-time recipient of the Economic Times Iconic Brand of the Year Award.

Share Price Overview 

The stock performance of JK Tyre as of December 13, 2024:

• 1 Week: +3.95%
• 1 Month: +9.79%
• 3 Months: -3.10%
• Year-to-Date: +2.65%
• 1 Year: +18.54%
• 3 Years: +195.20%

Sustainability at the Core

JK Tyre’s commitment to sustainability extends to green energy solutions, with 40% of its energy needs met through self-produced green electricity. Such efforts have earned it a place among India’s top 30 most sustainable companies.

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