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JK Tyre plans capex worth Rs 1,100 cr for two years

Monday, 30 May 2022
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JK Tyre and Industries has planned a capital expenditure worth Rs 1,100 crore till FY24. 
The tyre maker plans to make the investment in capacity expansion as well as regular maintenance of the existing infrastructure.
The total spending over the next two years, i.e., FY23 and FY24 will be Rs 1,100 crore, including maintenance capex of approximately Rs 300 crore. 
Of the capex, Rs 530 crore will be towards passenger car radial (PCR) capacity expansion. The company has also lined up capacity expansion of truck bus radial (TBR) at its unit Cavendish Industries. 
The debottlenecking programme which we had announced earlier has already been commissioned and completed. 
The projects in hand include TBR capacity expansion worth Rs 236 crore and PCR capacity expansion worth Rs 530 crore. Apart from this, there is the maintenance capex of around Rs 150 crore on annual basis, which is Rs 300 crore for a period of two years. 
The PCR capacity expansion at its Banmore plant in Madhya Pradesh would be funded through a mix of debt and internal accrual. The proposed expansion is expected to become operational by December 2023. 
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