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JK Tyre to invest Rs 200 cr to enhance production capacity

Monday, 14 Jun 2021
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JK Tyre is planning to spend Rs 200 crore in the next two years to enhance its production capacity through de-bottlenecking its plants even as it continues de-leveraging exercise and reduced net debt by Rs 929 crore in FY21.
The company is focusing on prudent capital allocation and tight management of its working capital to ensure accelerated de-leveraging going forward.
The investment will be done through internal accruals. There would be sufficient operational capacities through the proposed de-bottlenecking to cater to higher demand for its products. 
The company has 12 manufacturing facilities with annual production capacity of 5,75,000 tonne (around 32 million tyres) in FY21.
In FY21, the company reduced substantially net debt by Rs 929 crore through higher cash accruals and funds released due to better working capital management, which is a reduction of 17 percent compared to FY20.
JK Tyre is on track to reduce its long-term debt to a level of around 45 percent by FY24.
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