JK Tyre has witnessed a growth of 40 per cent in export sales in December 2019, compared to the corresponding month last year. The company also registered a YoY growth of 18 per cent in the domestic tyre replacement market in the said month.
Commenting on the sales growth, Sanjeev Aggarwal, Chief Financial Officer – JK Tyres, said, “In pursuit of its long term growth plans and to combat the temporary slow-down in the OEM market, JK Tyre has adopted a twin strategy to increase its revenue from replacement and export markets”.
Export sales contributed 11 per cent of the company’s total revenue in FY2019, and is expected to record a growth of over 50 per cent in the current financial year. This twin strategy has worked well for the company. JK Tyres expects to reap the benefits of this twin strategy for the replacement and export markets in times to come.
He further added, “JK Tyre has developed specific products for the international markets with a view to enhance its market presence and improve its exports globally. JK Tyre has recorded an impressive growth of more than 40% in export sales in the month of December 2019 as compared to corresponding month of last year”.
