Shaping the Future of Tyres and Sustainability
Dear Stakeholders,
Greetings,
especially at a time when India has ascended to become the fourth-
It is a pleasure to connect with you,largest economy in
the world—a
remarkable milestone. At JK Tyre, we are proud to be green mobility
partners in this journey, contributing meaningfully to our Nation's progress.
It gives me great pride to state that it was 50 years ago when we
entered the tyre business. I am filled with immense pride as I reflect on our
journey—from a single plant with an annual capacity of half a million tyres to a
global, multi-location enterprise with 11 state-of-the-art manufacturing facilities with a
capacity of 35 million tyres. Today, JK Tyre has a presence in over 100 countries,
standing tall as a transnational tyre major and a trusted name in the mobility sector. FY
2024-25 presented several macroeconomic challenges and uncertainties both in domestic and
international markets, during the first half. Yet, amidst these headwinds, your Company
put up a resilient performance. Over the past five years, our revenues have grown at a
healthy CAGR of 10%, underscoring our consistent growth trajectory and reflecting our
strong fundamentals and prudent financial stewardship.
Innovation and customer-centricity remain the cornerstones of our
success. We continue to pioneer next-generation tyre technologies focused on lightweight
materials, advanced rubber compounds, and AI-integrated solutions. These advancements are
driven by our unwavering commitment to R&D and technological excellence, anchored to
the Raghupati Singhania Centre of Excellence, our Global Technology & Innovation
Centre in Mysuru. This state-of-the-art facility, powered by over 200 highly-experienced
scientists and engineers, is where the future of sustainable and intelligent tyre design
is being shaped. Our subsidiaries, Cavendish Industries Ltd. and JK Tornel, continue to
make significant contributions to our performance. Key initiatives include the
commissioning of a 6 MW solar power plant at our Laksar facility and the expansion of our
Truck & Bus Radial production line. At JK Tornel, we have embarked on a phased
expansion and modernisation of our Passenger Car Radial facility. Notably, the launch of
the
American Cargo tyre in North America and the strengthening of our
distribution network in Mexico have enhanced our global footprint.
Sustainability lies at the heart of our strategy. We have set ambitious
goals to reduce carbon emission intensity by 50% by 2030 and achieve net-zero emissions by
2050. JK Tyre has recently joined the RE100 initiative, committing to 100% renewable
electricity by 2050. I am proud to share that we are already well ahead on this path,
having achieved a 70% reduction in carbon emission intensity and 57% renewable power usage
as of FY 2024-25. We are among the top three global tyre companies in energy efficiency
and water conservation practices.
We are proud to be India's first tyre company to receive ISCC PLUS
certification for our Chennai plant. Our recent financial partnerships, including a $100
million sustainability-linked loan from IFC and a €30 million loan from DEG, further
bolster our green initiatives. Recognition as a 2024 Asia-Pacific Climate Leader by the
Financial Times and Statista is a prestigious afirmation of our environmental stewardship.
All of these achievements are the result of the tireless efforts and
unwavering dedication of the entire JK Tyre team. Their resolve and commitment have
enabled us not just to weather the storms but to innovate, grow and lead.
We remain confident of our long-term vision and strategic direction,
and we are fully equipped to seize emerging opportunities in an ever-evolving global
market. Your continued trust and support inspire us to forge ahead in our mission be a
Green and Trusted Mobility Partner. With best wishes,
Dr. Raghupati Singhania
Chairman & Managing Director