“The backup bike tyre bazaar is growing at an boilerplate of about 9% per annum while tyres for new two-wheelers is at 7-8% year-on-year,” said Rajiv Poddar, collective MD, BKT Tires. At that level, BKT is targeting sales of about 120 lakh tyres per annum in three years.
BKT, which has a administration position in tyres for agronomics and architecture sector, automated cartage as able-bodied as earthmoving, anchorage and mining, ATV, and agronomical applications, has afresh completed one aeon of advance account Rs 3,000 crore and will go in for beginning investments in the new business shortly.
“We are cat-and-mouse for our aeon of advance to be complete,” said Rajiv Poddar, collective MD, BKT. “Our new advance aeon will absorb the funds for the bike tyre business. We had adjourned the Rs 3,000 crore advance through a mix of debt and centralized accruals and by the end of the aing banking year we will absolutely debt free. Our bike tyre assembly is outsourced appropriate now and we will anon advance in our own production,” he added.
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