Mumbai-based manufacturer outlines five-year plan with new market entries and USD 400m investment programme

Balkrishna Industries Ltd (BKT), one of India’s leading tyre manufacturers, has unveiled an ambitious strategic roadmap targeting revenues of USD 2.6 billion by 2030, representing a significant expansion from its current operations focused primarily on off-highway tyres.

The Mumbai-headquartered company presented its five-year plan to the board of directors, outlining total investments of USD 400 million to be funded predominantly through internal resources. The strategy centres on three core pillars: reinforcing its leadership position in off-highway segments, expanding carbon black operations, and entering new tyre categories specifically for the Indian domestic market.

BKT reported record revenues of INR 106.15 billion for fiscal year 2024-25, marking a robust 13 percent increase over the previous year despite challenging global macroeconomic conditions. This performance has provided the foundation for the company’s ambitious expansion plans.

The most significant strategic shift involves BKT’s entry into passenger car radial (PCR) and truck & bus radial (TBR) tyre segments, departing from its traditional focus on agricultural and industrial applications. Both new product lines will target exclusively the Indian market, with TBR pilot launches scheduled for Q4 of FY25-26, followed by PCR pilots in Q3 of FY26-27. The company expects these new verticals to contribute approximately 20 percent of overall sales by 2030.

“With this development plan, we are setting a clear and ambitious vision for BKT’s future—built on solid foundations, modularity, and organic growth. We are entering new product categories with the same focus and consistency that have driven us in the Off-Highway space, backed by the trust we’ve earned worldwide,” said Rajiv Poddar, Joint Managing Director of BKT.

In its established off-highway tyre (OHT) segment, BKT will continue consolidating its global agricultural leadership while strengthening positions in rubber tracks, mining, industrial, and construction applications. Following the successful commercialisation of rubber tracks, the board has approved expanding the dedicated production facility, which is expected to become operational in the second half of 2026.

The company plans to leverage its proprietary All-Steel Radial technology for mining applications, developing tyres up to 57 inches to complement its existing bias range. Geographically, growth efforts will concentrate on the Americas, India, and selected international markets whilst maintaining a steady European presence.

BKT’s carbon black division represents another growth engine. Over the past three years, it has established itself as a strategic partner for major tyre manufacturers domestically and internationally. The company focuses on speciality carbon black segments targeting high-performance non-tyre applications, including speciality and advanced carbon black grades.

Production capacity will expand from 200,000 to 360,000 metric tonnes annually to support this trajectory, incorporating advanced carbon black development. The project is scheduled for completion by early 2026, positioning BKT to capitalise on growing demand in both tyre and non-tyre applications.

The strategic plan emphasises an integrated industrial structure leveraging shared infrastructure, existing synergies between production hubs, and consolidated brand investments. This approach aims to enable scaling without compromising profitability—a critical consideration as BKT diversifies beyond its traditional market segments.

Despite the expansion into new categories, BKT remains committed to its core off-highway vision, targeting a 10% global market share in off-highway tyres by 2030. This goal underpins the company’s strategy of consolidating positions in high-value segments whilst expanding its presence across strategic international markets.

The announcement comes as India’s tyre industry benefits from strong domestic economic growth, providing favourable conditions for BKT’s market expansion. The company’s existing portfolio spans over 3,600 products sold across 163 countries worldwide, primarily serving agricultural, industrial, earthmoving, mining, ATV, and gardening sectors.

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Apollo Tyres Ltd has secured a Gold Medal in the 2025 EcoVadis Sustainability Rating. This recognition places it among the top five percent of over 130,000 companies evaluated globally, strengthening the company’s commitment to sustainability, ethical business practices and social responsibility.

EcoVadis evaluates businesses on Environmental, Social and Governance (ESG) issues using internationally accepted standards including the UN Global Compact, ISO 37001 and the GRI Guidelines. Apollo Tyres' noteworthy advancements in these areas are reflected in its Gold rating, which further demonstrates its commitment to sustainability and corporate responsibility. Apollo Tyres Ltd.'s overall performance score increased from the 92nd percentile to the 95th percentile in FY25 during the preceding five years, and the score increased from 41 to 76.

EcoVadis evaluates four areas: ethics, labour and human rights, the environment and sustainable procurement. Of these, the Ethics and Labour and Human Rights segments saw the biggest improvement, rising from 50 to 63 and 70 to 80 points, respectively. Apollo Tyres had the highest environmental score of 85 points, while Sustainable Procurement received 71 points. With an overall score of 76/100, Apollo Tyres has demonstrated its dedication to addressing climate change, creating a secure and welcoming work environment and maintaining the highest ethical standards to guarantee openness and confidence across the value chain.

Sunam Sarkar, President and Chief Business Officer, Apollo Tyres, said, “The manifold improvement in our Environment, Ethics and Labour and Human Rights scores was driven by focused initiatives such as enhanced environmental management practices, strengthened ethics and compliance programmes and the implementation of inclusive labour policies. This recognition is a testament to the hard work and dedication of our teams, who have worked tirelessly to integrate sustainable practices throughout our operations, motivating us to continue advancing our sustainability journey.”

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German manufacturer to cease production at Modipuram plant by June 2025

German tyre manufacturer Continental Tires said on Monday it would discontinue truck and bus tyre production in India and focus entirely on the passenger car segment, as intense competition and price sensitivity weigh on profitability in the commercial vehicle market.

The company will cease manufacturing truck and bus radial (TBR) tyres at its Modipuram plant in Meerut, Uttar Pradesh, by June 2025, Continental said in a statement. The facility will be repurposed to support the company’s passenger car and light truck (PLT) tyre operations.

Continental cited “intense competition and high price sensitivity in the TBR segment” as key factors behind the decision, saying sustaining long-term value from its premium offerings had proved challenging in the commercial vehicle tyre market.

The strategic realignment follows a comprehensive business review, as described by the company, aimed at strengthening its competitiveness across the Asia-Pacific region. Continental said it would focus resources on developing its local product portfolio in the more profitable PLT premium segment.

“The realignment is aimed at ensuring the long-term viability of Continental Tires’ operations in India,” the company said, adding that the decision was made “in response to changing local customer demand.”

Continental said it would provide support to affected employees, including career counselling and assistance in finding opportunities within and outside the company. A voluntary retirement and separation scheme will also be offered.

Despite exiting the truck tyre business, Continental emphasised that India remained strategically important for its operations. The company maintains its sales and distribution activities, as well as its manufacturing operations, headquartered in Faridabad, Haryana.

Continental ranks among the world’s leading premium tyre manufacturers and serves both replacement and original equipment customers across the Asia-Pacific region through what it describes as a strong manufacturing network.

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  - Vikram Singhania June 02, 2025 16:32 PM

  Extremely sad news.

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Pirelli hosted an exclusive event at Villa Bicocca degli Arcimboldi, its historic Milan headquarters, to celebrate two decades of collaboration with Sacs Tecnorib that gave rise to the Maxi-Ribs line, redefining nautical excellence by blending performance, design and unmistakable identity – bringing Pirelli’s racing heritage from the road to the open sea.

Over 20 years, this partnership has flourished, with over 1,000 Pirelli-branded boats delivered to discerning owners across 30+ nationalities. From the sun-drenched coasts of Florida to the crystal waters of the Mediterranean, these vessels have carved a legacy of innovation and style. Supported by the Sacs Tecnorib distribution network in 19 countries, the brand has achieved annual revenues exceeding EUR 20 million for the past two years.

The story began with the Pirelli P ZERO™ 770, a model that introduced a bold new aesthetic – defined by taut lines, a dynamic hull and the unmistakable P ZERO tyre tread on its tubulars. This design language became the hallmark of the entire Pirelli marine collection. The Pirelli 1400, launched in 2007, took inspiration from offshore racing and earned the prestigious Red Dot ‘Best of the Best’ Award, cementing the brand’s reputation for cutting-edge design. By 2012, the Pirelli 1100 Cabin emerged as the most successful cabin cruiser in the lineup, merging sleek aesthetics with unmatched comfort.

In 2017, the Pirelli 1900 made its grand debut at the Cannes Yachting Festival, standing as the largest and most formidable model in the range – a maxi-RIB engineered for speed, stability and luxury. The brand’s evolution continued in 2019 with the introduction of jet tenders, compact yet powerful vessels designed for versatility. The year 2020 marked a new chapter with the Pirelli 42, the first walkaround model, offering seamless connectivity between spaces and a truly immersive on-board experience. Today, the Pirelli speedboats collection has expanded to include the 30, 35 and the flagship Pirelli 50 – a masterpiece of engineering and elegance, embodying the pinnacle of the brand’s vision.

Marco Maria Tronchetti Provera, SVP – Pirelli Design & Assets Conversion, said, “The partnership with Sacs Tecnorib is a virtuous example oriented towards excellence and for this reason capable of lasting over time. Together we have been able to transfer the values ​​of the Pirelli brand such as innovation, sportiness and glamour to the nautical world, with a range of boats that has redefined the standards of the sector. This anniversary celebrates not only the results achieved but also the strength of an agreement that looks to the future with ambition, determination and the desire to continue to grow.”

Gianni De Bonis, Founder, Tecnorib, said, “Twenty years of close cooperation on a complex project is an achievement that fills us with pride. Since the beginning we have tried to interpret the attributes of the Pirelli brand by adapting them to the nautical world, with an innovative and international approach.”

Matteo Magni, President & CEO, Sacs Tecnorib, said, “This anniversary renews a successful partnership and launches us towards new challenges in strategic continuity and with even greater attention to the issues of sustainability and international development.”

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Michelin North America, Inc, in partnership with the Best Defense Foundation and Delta Air Lines, will escort 30 World War II veterans to Normandy, France, for the 81st anniversary of D-Day. The group departs on a chartered flight 31 May 2025, continuing a four-year tradition of honouring veterans’ courage and preserving their legacy.

The veterans, accompanied by volunteers from all three organisations, will participate in commemorative events, including the 6 June D-Day ceremony – marking 81 years since the pivotal invasion that turned the tide of World War II in Europe.

Michelin’s connection to D-Day dates to 1947, when it published bilingual maps – Battle of Normandy, Battle of Provence, Battle of Alsace and Liberty Road – documenting key campaigns. Today, its partnership with the Best Defense Foundation and Delta, established in 2021, fulfils a shared mission: honouring veterans where their history unfolded.

Matthew Cabe, President and CEO, Michelin North America, Inc, said, “These veterans exemplify the highest ideals of courage and sacrifice. By supporting their return to Normandy, we honour not only their heroism but also ensure their stories inspire future generations. This journey reflects Michelin’s ongoing commitment to preserving the legacy of veterans and expressing our profound gratitude for their service.”

Donnie Edwards, President and Founder, Best Defense Foundation, said, “Bringing these heroes back to Normandy is about giving them the recognition and closure they deserve. Our partnerships with Michelin North America, Inc. and Delta Air Lines allow us to continue this important mission of honouring their legacy where it all began.”

Delta CEO Ed Bastian said, “It is our honour and privilege to continue this historic charter and weeklong celebration as a journey of remembrance and gratitude, dedicated to our World War II heroes. Delta has a deep history of supporting our military service members and veterans, and this programme is one of the many ways we live our values in service of those who served us.”

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