J K Tyre & Industries Ltd intends to invest Rs 1,100 crore over the following two years in capacity expansion.

The proposed capex comprises increasing the production of passenger car radials (PCR) at the Banmore facility and truck bus radials (TBR) at Cavendish Industries, a subsidiary in which the business owns 87.48 percent.

In FY23, Cavendish achieved a record-breaking revenue of Rs 3,869 crore, up 29%. All product categories saw record-breaking production.

“With the anticipated robust demand in the tyre industry, particularly in the PCR and TBR segments, we are confident that our ₹1,100-crore capex plan will propel the next phase of growth in the year ahead,” said Anshuman Singhania, Managing Director, in the latest annual report.