JK Tyre & Industries has planned Rs 1,100 crore in capital investment for the coming fiscal year, according to the company’s CFO Sanjeev Aggarwal.
The tyre manufacturer intends to invest in capacity growth as well as routine infrastructure maintenance.
The passenger car radial (PCR) capacity augmentation would get the majority of the expenditure — Rs 530 crore.
Cavendish Industries, the company’s affiliate, is also planning to expand its truck bus radial (TBR) capacity.
“Total spend over the next two years, ie, FY23 and FY24 would be Rs 1,100 crore, including maintenance capex of around Rs 300 crore,” Aggarwal said in an analyst call.
