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JK Tyre’s subsidiary Cavendish Industries Ltd records – 30% growth in Sales
Published on January 14, 2021
New Delhi: Cavendish Industries Ltd. (Cavendish), a subsidiary of JK Tyre & Industries Ltd. has reported a record performance for Q3:
- Sales at Rs.788 crores up by 30%
- 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”.
