Birla Tyres to re-enter mkt with new products in Q4
Times of India | 17 July 2024
Kolkata: Birla Tyres is likely to re-enter the market with a new range of products in the fourth quarter of this fiscal, said Anurag Choudhary, CMD and CEO of Himadri Speciality Chemicals, one of the owners of Birla Tyres. Choudhary said the range would include OTR and radial tyres other than non-radial ones. This will be the first time the company is introducing radial tyres.
Himadri Speciality Chemicals and Dalmia Refractories Bharat had bought the erstwhile B K Birla Group firm Birla Tyres for Rs 300 crore.Choudhary told TOI that the relaunch would take place by 2025. “In the passenger car segment, almost 100% is radial now. But in the commercial vehicle category, 45% is still non-radial,” he said.
Choudhary said there are plans to invest in green technology and recycling projects through Himadri Green Technologies Innovation Limited, a subsidiary of Himadri Speciality Chemicals. The speciality chemical manufacturer has witnessed a 40% jump in net profit to Rs 123 crore in the first quarter of this fiscal. The revenue stood at Rs1,200 crore, a 26% jump from Rs 951 crore in the year-ago period. “A significant milestone is our achievement of becoming debt-free, boasting a positive net cash balance. This accomplishment is a testament to our unwavering commitment to disciplined capital deployment and efficient working capital utilization.”