Bengaluru: Cavendish Industries Ltd. (Cavendish), a subsidiary of JK Tyre & Industries Ltd. has reported a record performance for Q3:
i) Sales at Rs.788 crores up by 30%
ii) EBITDA at Rs.157 crores jumps by 128%
Dr Raghupati Singhania, Chairman, stated “increased volumes in Truck tyres both Radial and Bias, LCV and Agricultural tyres have contributed to higher Sales. Cavendish, during the Qtr, operated all its 3 plants at 95% capacity utilization, and also achieved best ever Operating efficiencies on several parameters”.
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He further mentioned “the demand recovery in the market is quite robust across segments. Larger commercial tyres are also moving well with replacement demand clocking 30% growth and OEMs offtake slowly coming back. Cavendish looks forward to sustained improvement in Sales and Profitability in the coming period”.
About Cavendish Industries Ltd:
Cavendish Industries Ltd. (CIL), houses 3 Tyre Business Undertakings of Birla Tyres and was acquired by JK Tyre in 2016. The plants are located at Laksar (Haridwar) which manufacture a range of tyres, tubes and flaps. With this acquisition, JK Tyre now has 12 tyre plants – 9 tyre plants in India & 3 in Mexico.
CIL is a subsidiary of JK Tyre with majority shareholdings through direct holdings and the balance through its subsidiaries & Associates.
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