New Delhi, January, 2021.
Cavendish Industries Ltd. (Cavendish), a subsidiary of JKTyre & Industries Ltd. has reported a record performance for Q3:
i) Sales at Rs.788 crores up by 30%
ii) EBITDA at Rs.157 crores jumps by 128%
Dr Raghupati Singhania, Chairman, stated “increased volumes in Truck tyres both Radial and Bias, LCV and Agricultural tyres have contributed to higher Sales. Cavendish, during the Qtr, operated all its 3 plants at 95% capacity utilization, and also achieved best ever Operating efficiencies on several parameters”.
He further mentioned “the demand recovery in the market is quite robust across segments. Larger commercial tyres are also moving well with replacement demand clocking 30% growth and OEMs offtake slowly coming back. Cavendish looks forward to sustained improvement in Sales and Profitability in the coming period”.