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Balkrishna Industries: Difference between revisions
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{{short description|Indian tyre manufacturing company}} | {{short description|Indian tyre manufacturing company}} | ||
{{Notability|date=March 2021}} | {{Notability|Companies|date=March 2021}} | ||
{{Use dmy dates|date=February 2019}}{{Use Indian English|date=July 2018}} | {{Use dmy dates|date=February 2019}}{{Use Indian English|date=July 2018}} | ||
{{Infobox company | {{Infobox company | ||
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| logo = Balkrishna_Tyres_Logo.svg | | logo = Balkrishna_Tyres_Logo.svg | ||
| logo_size = 250px | | logo_size = 250px | ||
| foundation = 1987<ref>http://www.bkt-tires.com/en/about-us/corporate-profile</ref> | | foundation = 1987<ref>{{Cite web|url=http://www.bkt-tires.com/en/about-us/corporate-profile|title=About Us | BKT Tires}}</ref> | ||
| founder = | | founder = | ||
| industry = [[Automobile|Auto]] and [[Truck]] parts | | industry = [[Automobile|Auto]] and [[Truck]] parts | ||
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| key_people = | | key_people = | ||
| products = [[Tyres]] | | products = [[Tyres]] | ||
| revenue = {{increase}} {{INRConvert| | | revenue = {{increase}} {{INRConvert|57.4|b}} (2020–21)<ref>https://www.bkt-tires.com/downloads/8022/4792/BKT-InvestorPresentation-May2021.pdf</ref> | ||
| operating_income = | | operating_income = | ||
| net_income = {{increase}} {{INRConvert| | | net_income = {{increase}} {{INRConvert|11.55|b}} (2020–21)<ref>https://www.bkt-tires.com/downloads/8022/4792/BKT-InvestorPresentation-May2021.pdf</ref> | ||
| assets = | | assets = | ||
| equity = | | equity = | ||
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}} | }} | ||
'''Balkrishna Industries Limited''' ('''BKT''') is | '''Balkrishna Industries Limited''' ('''BKT''') is an [[India|Indian multinational]] [[tire|tyre]] manufacturing company based in [[Mumbai]], India. Balkrishna Industries manufactures off-highway tyres used in specialist segments like [[mining]], [[earthmoving]], [[agriculture]], and [[gardening]] in five factories located in [[Aurangabad, Bihar|Aurangabad]], [[Bhiwadi]], Chopanki, [[Dombivali]], and [[Bhuj]]. In 2013, it was ranked 41st among the world’s tyre makers.<ref>{{Cite news|url=http://www.tirebusiness.com/article/20141030/NEWS/141039992/bkt-opens-1st-u-s-warehouse|title=BKT opens 1st U.S. warehouse - Tire Business|last=Staff|first=Tire Business|work=Tire Business|access-date=24 January 2018}}</ref> | ||
Balkrishna Industries is currently an [[OEM]] vendor for [[heavy equipment]] manufacturers like [[JCB (company)|JCB]], [[John Deere]], and [[CNH Industrial]]. In 2014, BKT held a | ==History== | ||
Balkrishna Industries began operations in the year 1987 with the inauguration of its first off-highway tyre manufacturing facility in [[Aurangabad]]. Subsequent growth in business allowed the company to open new facilities in Bhiwadi (2002) and Chopanaki (2006). It also diversified its product line by introducing tyres for ATV, earthmoving and gardening vehicles. | |||
==Operations== | |||
Balkrishna Industries is currently an [[OEM]] vendor for [[heavy equipment]] manufacturers like [[JCB (company)|JCB]], [[John Deere]], and [[CNH Industrial]]. In 2014, BKT held a 8% [[market share]] of the global off-the-road tyre segment.<ref>{{Cite news|url=https://economictimes.indiatimes.com/articleshow/33526268.cms?intenttarget=no|title=What makes Balkrishna Industries confident of achieving higher market share amid competition from Michelin, Bridgestone, and Continental?|last=Shyam|first=Ashutosh R.|date=10 April 2014|work=The Economic Times|access-date=24 January 2018}}</ref> | |||
Balkrishna Industries predominantly caters to the replacement market in North America and Europe. Its North American office is located in [[Akron, Ohio]], with one warehouse in [[Wando, South Carolina]].<ref>{{Cite news|url=http://www.tyrepress.com/2014/12/bkt-investing-in-infrastructure-staff-in-north-america/|title=BKT investing in infrastructure, staff in North America|date=17 December 2014|work=Tyrepress|access-date=24 January 2018|language=en-US}}</ref> About 80 percent of Balkrishna Industries' business in the United States is in the farm market.<ref>{{Cite news|url=http://www.rubbernews.com/article/20130729/ISSUE/307299985/tire-veteran-casalbore-ready-for-challenge-at-bkt-usa|title=Tire veteran Casalbore ready for challenge at BKT USA - Rubber & Plastics News|last=McCarron|first=Kathy|work=Rubber & Plastics News|access-date=24 January 2018}}</ref> | Balkrishna Industries predominantly caters to the replacement market in North America and Europe. Its North American office is located in [[Akron, Ohio]], with one warehouse in [[Wando, South Carolina]].<ref>{{Cite news|url=http://www.tyrepress.com/2014/12/bkt-investing-in-infrastructure-staff-in-north-america/|title=BKT investing in infrastructure, staff in North America|date=17 December 2014|work=Tyrepress|access-date=24 January 2018|language=en-US}}</ref> About 80 percent of Balkrishna Industries' business in the United States is in the farm market.<ref>{{Cite news|url=http://www.rubbernews.com/article/20130729/ISSUE/307299985/tire-veteran-casalbore-ready-for-challenge-at-bkt-usa|title=Tire veteran Casalbore ready for challenge at BKT USA - Rubber & Plastics News|last=McCarron|first=Kathy|work=Rubber & Plastics News|access-date=24 January 2018}}</ref> | ||
BKT Tires has been the official and exclusive tyre [[sponsor (commercial)|sponsor]] for [[Monster Jam]] since 2014.<ref>{{Cite news|url=http://www.tyrepress.com/2014/03/bkt-the-official-tyre-of-monster-jam/|title=BKT the official tyre of Monster Jam|date=4 March 2014|work=Tyrepress|access-date=24 January 2018|language=en-US}}</ref> In July 2018, BKT purchased naming rights for [[Serie B|Italian football's second division, Serie B]] for three years, with the league being known as Serie BKT under the agreement.<ref>http://www.calcioefinanza.it/2018/06/22/nuovo-title-sponsor-serie-b-bkt/</ref> On 15 January 2020, BKT signed an agreement with [[Ligue de Football Professionnel|LFP]] to rename the French football second division as [[Ligue 2|Ligue 2 BKT]] for four years.<ref>{{Cite web|title=Accord majeur de naming entre la Ligue 2 et BKT|url=https://www.lfp.fr/Articles/COMMUNIQUÉS/2020/01/15/signature-d-un-accord-majeur-de-naming-entre-la-ligue-2-et-bkt|access-date=2021-02-08|website=LFP|language=fr-FR}}</ref> | BKT Tires has been the official and exclusive tyre [[sponsor (commercial)|sponsor]] for [[Monster Jam]] since 2014.<ref>{{Cite news|url=http://www.tyrepress.com/2014/03/bkt-the-official-tyre-of-monster-jam/|title=BKT the official tyre of Monster Jam|date=4 March 2014|work=Tyrepress|access-date=24 January 2018|language=en-US}}</ref> In July 2018, BKT purchased naming rights for [[Serie B|Italian football's second division, Serie B]] for three years, with the league being known as Serie BKT under the agreement.<ref>{{Cite web|url=http://www.calcioefinanza.it/2018/06/22/nuovo-title-sponsor-serie-b-bkt/|title=La B cambia nome: Si chiamerà Serie BKT fino al 2021|date=22 June 2018}}</ref> On 15 January 2020, BKT signed an agreement with [[Ligue de Football Professionnel|LFP]] to rename the French football second division as [[Ligue 2|Ligue 2 BKT]] for four years.<ref>{{Cite web|title=Accord majeur de naming entre la Ligue 2 et BKT|url=https://www.lfp.fr/Articles/COMMUNIQUÉS/2020/01/15/signature-d-un-accord-majeur-de-naming-entre-la-ligue-2-et-bkt|access-date=2021-02-08|website=LFP|language=fr-FR}}</ref> | ||
==References== | ==References== | ||
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[[Category:1987 establishments in Maharashtra]] | [[Category:1987 establishments in Maharashtra]] | ||
[[Category:Manufacturing companies established in 1987]] | [[Category:Manufacturing companies established in 1987]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | |||
[[Category:Companies listed on the Bombay Stock Exchange]] | |||
{{India-company-stub}} | {{India-company-stub}} | ||