JK Tire said, “The outlook for ‘Consumer Confidence, Personal Travel Preferences and Expectations for Domestic and International Economic Recovery in 2021-22’ is optimistic due to increased production.”

JK Tire Q1 related results: company’s net profit at Rs 44 JK Tire Industries expects economic recovery and growth after an unprecedented FY21, but potential instability due to rising raw material prices and epidemics remains a concern. 2020-211 Company Sinhanya In an address to shareholders in its annual report, the last fiscal year was described as “unprecedented and perhaps the most challenging year of our lifetime”.

“It was probably the first time in the history of tires that all operations of stakeholders, including suppliers and channel partners, were completely halted,” JK He said in the report.

He said, “The company responded to the adverse situation with a ‘Survive, Revive, Prosper’ philosophy and embarked on a transformational path with a strategic plan that included the establishment of a virtual office, resumption of work, and acceleration of operations as the economy reopened.” . Add it.

Commenting on the outlook, Singhania said, “We expect the economy to recover and grow over the next few years, but with the reopening of the global economy over the last year, we remain concerned about the potential volatility caused by rising raw material prices and epidemics.” In particular, the raw material supply situation has shifted from a large surplus to a limited supply following the expected increase in vaccine supply and demand.

“The sudden increase in demand has led to global shortages of key raw materials, and the closure of a number of raw material production facilities has also impacted the limited supply of raw materials and increased freight costs, leading to increased investment costs. ” he noted.

However, JK Tire said, “Optimism about the outlook is ‘overwhelming’ due to rising consumer confidence, preference for personal travel and expectations of economic recovery at home and abroad in FY2021-22 after the end of the epidemic.” ”

The company also said it plans to capitalize on the new reality by launching new products, expanding distribution, increasing dealer wallet share and increasing throughput.