JK Tyre & Industries informed the stock markets that the Board of Directors had approved an expansion plan intended to increase the company's capacity for producing tyres.

According to the firm, as of July 13, JK Tyre & Industries has an annual capacity of 155.11 lakh tyres, with a 95% utilisation rate. It also said that it has plans to increase this capacity by 19.45 percent, with the goal of having a higher capacity by October 2025.

Speaking about the money side of things, JK Tyre stated that in order to pull off this significant growth, an investment of Rs 1,025 crore is needed.

Additionally, the company stated that it plans to use a combination of debt, internal accruals, and equity to finance this initiative.