Hankook Publishes 2022-23 ESG Report

Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.

This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.

Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.

Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.

With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.

Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.

Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.

Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.

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Dara Jehangir Bharucha, a respected stalwart of India’s rubber and polymer industry with a career spanning more than six decades, has passed away today. He was 90.

Born on January 12, 1936, in Mumbai, Bharucha graduated from St. Xavier’s College in 1955 before embarking on a distinguished professional journey in the technical side of the rubber sector. He began his career with Firestone Tyre Company in Bombay, working in its technical department during a formative phase for India’s tyre industry.

He later joined Philips Carbon Black Ltd in West Bengal, where he was associated with testing the first lot of carbon black produced in India — a milestone in the domestic rubber value chain. In 1972, Bharucha moved to Bayer, rising to become Regional Technical Manager and subsequently Technical and Development Manager at the company’s Thane headquarters.

Following his retirement, he continued contributing to the industry by joining the Bhimrajka Group in 1996, a leading distributor of performance polymers and chemicals in India. Even in his later years, Bharucha remained actively engaged with the All India Rubber Industries Association (AIRIA), participating in technical forums, seminars and industry deliberations.

Colleagues remember him as a technically rigorous professional with an unwavering commitment to industry development. His career mirrored the evolution of India’s rubber and polymer ecosystem — from import dependence to domestic capability.

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Sanjay Sharma, Head of Corporate Communication and Motorsport at JK Tyre & Industries Ltd, passed away on Wednesday at the age of 61. A central architect of organised racing in India, Sharma, widely known in Indian motorsport circles as “Hardy”, leaves behind a legacy that reshaped the country’s motorsport ecosystem over three decades.

Sharma joined JK Tyre & Industries Ltd in 1994 with a mandate to professionalise its fledgling motorsport division. At a time when structured racing pathways in India were limited, he built a formal competitive framework that would become the backbone of the sport domestically.

In 1997, he spearheaded the launch of the JK Tyre National Racing Championship, creating a sustained talent pipeline for aspiring drivers. The championship went on to nurture several Indian racers who would make their mark internationally, including Narain Karthikeyan, Karun Chandhok, Aditya Patel and Armaan Ebrahim.

Beyond circuit racing, Sharma broadened JK Tyre’s footprint across rallying, karting and grassroots motorsport development. In 2000, he was instrumental in introducing organised karting championships in India — a decisive step in creating an entry-level ladder for young drivers. His long-term vision emphasised early talent identification and structured progression to international competition.

Under his stewardship, JK Tyre also strengthened its presence in rallying, supporting prominent drivers such as Gaurav Gill, while expanding competitive platforms across formats. Colleagues and competitors alike credit Sharma with institutionalising professionalism in an industry that had previously operated in fragmented pockets.

Tributes from across the Indian motorsport fraternity poured in on Thursday, describing him as a mentor, strategist and relentless advocate for the sport. Many credited his administrative foresight and corporate stewardship for laying the foundation upon which India’s contemporary racing structure stands.

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At a recent European dealer conference held in Thailand, Prinx Chengshan introduced its strategic direction for the coming years under the theme ‘PRINX REVEAL 2026 THE FUTURE UNVEILED’. The company marked the occasion by launching a new brand slogan for the European market - FUTURE READY TIRES -underscoring its ambition to co-create a shared trajectory with its regional partners amidst an evolving industry landscape.

A central component of the event was a tour of the company’s Thailand Smart Factory, where delegates observed advanced manufacturing systems in action. Led by General Manager Xu Jiangang, the visit highlighted the facility’s intelligent production lines, digital oversight tools and commitment to corporate social responsibility. Li Chongbing from the R&D Centre elaborated on the technological foundations underpinning Prinx Chengshan’s tyre quality, while Wang Hongdian of the Marketing Centre outlined a five-year product roadmap for both commercial vehicle and passenger car tyres tailored to European customers. Meanwhile, Wu Longfeng, Manager of Customer Service Department at Quality Management Centre, introduced an updated 2026 Claim Policy designed to respond more effectively to market expectations and reinforce the company’s integrated ‘Product + Service’ approach.

Strategic vision took centre stage as Li Xinming, Deputy Director of the Europe & Americas Sales Centre, discussed the company’s ongoing evolution from a traditional tyre producer into a globally competitive industrial group. He credited much of this progress to the enduring trust of European partners and conveyed optimism that the Prinx brand – rooted in innovation, craftsmanship and forward-thinking design – would continue to gain momentum through these collaborations. Thomas Wohlgemuth, General Manager for Europe, elaborated on the new brand identity and confirmed Prinx’s official entry into the European commercial vehicle tyre sector in 2026, with sustainability embedded across research, operations and partnerships.

Adding a dynamic dimension to the proceedings, British racing driver Luke Garrett made a guest appearance. As a sponsored athlete in the 2025 FIA European Truck Racing Championship, Garrett shared his experiences competing on Prinx Chengshan tyres, offering attendees a tangible connection to the brand’s values of determination, aspiration and performance.

Beyond the formal agenda, the company curated an immersive cultural programme that enabled participants to experience Thailand’s natural beauty and build stronger interpersonal connections in a relaxed setting. Looking forward, Prinx Chengshan intends to deepen its investment in research and development while capitalising on its smart manufacturing footprint across China, Thailand and Malaysia. The company envisions a future defined by sustainable growth, longer product life cycles and green innovation – bringing Chinese intelligent manufacturing to an ever-widening global stage through close collaboration with its European allies.

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TVS Srichakra reported higher standalone and consolidated profits for the quarter to December 2025, supported by revenue growth and grant income, despite exceptional charges linked to labour reforms and voluntary retirement costs.

Quarterly performance

Standalone revenue from operations rose to INR 8.50 billion in the December quarter, from INR 7.47 billion a year earlier. Total income stood at INR 8.52 billion.

Standalone profit before tax, after exceptional items, was INR 1.90 billion, compared with a loss of INR 0.36 billion in the same quarter last year. Net profit after tax was INR 1.42 billion, against a loss of INR 0.31 billion a year earlier.

Standalone earnings before interest, tax, depreciation and amortisation were INR 6.05 billion, representing a margin of 22.5 percent.

On a consolidated basis, revenue from operations rose to INR 9.17 billion, from INR 8.03 billion a year earlier. Profit before tax, after exceptional items, was INR 1.71 billion, compared with a loss of INR 0.56 billion. Net profit attributable to owners of the group was INR 1.12 billion, against a loss of INR 0.60 billion.

Nine-month performance

For the nine months, standalone revenue from operations increased to INR 24.77 billion, from INR 22.71 billion a year earlier. Net profit after tax was INR 4.81 billion, up from INR 2.64 billion.

Consolidated revenue from operations for the nine months rose to INR 26.62 billion, from INR 24.35 billion. Net profit attributable to owners of the group was  INR 3.51 billion, compared with INR 1.10 billion in the previous year.

Exceptional items and regulatory impact

Exceptional items included recognition of grant income of INR 1.88 billion under an investment promotion capital subsidy sanctioned by the Government of Tamil Nadu in November 2021. The grant is to be received over 12 years in equal annual instalments, subject to conditions, and has been accounted for under Ind AS 20 using the income approach.

The company also recognised incremental estimated obligations of INR 1.17 billion on a standalone basis and INR 1.21 billion on a consolidated basis under the new labour codes, mainly on account of employees past services. The codes became effective from November 21 2025, though supporting rules are yet to be notified.

Under a voluntary retirement scheme, the company spent INR 0.13 billion in the quarter and INR 0.51 billion in the nine months.

During the nine-month period, subsidiary Super Grip Corporation incurred severance expenses of INR 0.04 billion.

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