The board has approved a plan for expanding their tyre manufacturing capacity.
These details include:
a) The company’s existing tire manufacturing capacity is 155.11 lakh tyres per year.
b) They are currently utilizing 95% of their existing capacity.
c) They plan to add 19.45% more capacity.
d) They aim to complete this capacity expansion by October 2025.
e) The investment required for this expansion is Rs. 1025 Crore f) They plan to finance this project through a combination of equity, internal accruals and debt.
g) The reason for this expansion is the growth in the Indian automotive industry, which presents an opportunity for the company to increase its market presence in the automotive tire market.
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