JK Tyre's Chairman and Managing Director Dr. Raghupati Singhania expects a 9-10% topline growth in FY25, buoyed by government infrastructure spending, rising domestic auto demand and a recovery in exports.
Elaborating on the levers of growth, Singhania highlighted that the momentum in infrastructure development is likely to continue.
Elaborating on the levers of growth, Singhania highlighted that the passenger cars and two-wheeler segments are finding good traction which he hopes will persist, even as commercial vehicle sales are likely to remain flat, although they may grow marginally. The exports, on the other hand, are likely to catch up, thereby helping to generate demand. On the whole, the automotive sector may see around 6% growth during the same period, he pointed out.
The top executive elaborated that the exports were flat last year due to overstocking in the US market and global disturbances, such as the Suez Canal issue. However, the last quarter of last year saw an encouraging increase in exports. Singhania hopes exports will pick up again as importers/exporters learn to deal with issues like the Suez Canal blockade and expects to see decent export growth in the current financial year.