Balkrishna Industries

Last updated

Balkrishna Industries Limited
Company type Public
BSE:  502355
NSE:  BALKRISIND
Industry Auto and Truck parts
Founded1987 [1]
HeadquartersMumbai, India
Area served
Worldwide
Products Tyres
RevenueIncrease2.svg₹9,810 crore (US$1.2 billion) (FY23) [2]
Decrease2.svg₹1,078 crore (US$130 million) (FY23) [2]
Number of employees
7000+
Website www.bkt-tires.com OOjs UI icon edit-ltr-progressive.svg

Balkrishna Industries Limited (BKT) is an Indian multinational tyre manufacturing company based in Mumbai, India. Balkrishna Industries manufactures off-highway tyres used in specialist segmentations like mining, earthmoving, agriculture, and gardening in five factories located in Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj. In 2013, it was ranked 41st among the world’s tyre makers. [3] BKT also sponsors various sports competitions in various countries.

Contents

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 Dubai (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, John Deere, and CNH Industrial. In 2014, BKT held a 8% market share of the global off-the-road tyre segment. [4]

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. [5] About 80 percent of Balkrishna Industries' business in the United States is in the farm market. [6]

Sponsorships

BKT Tires has been the official and exclusive tyre sponsor for Monster Jam (a competition involving monster trucks) since 2014. [7]

In July 2018, BKT purchased naming rights for Italian football's second division, Serie B for three years, with the league being known as Serie BKT under the agreement. [8]

On 15 January 2020, BKT signed an agreement with LFP to rename the French football second division as Ligue 2 BKT for four years. [9] The sponsorship deal was extended until 2028. [10]

On 2 September 2022, BKT were announced as northern hemisphere title sponsorship for the United Rugby Championship for three years. [11] [12]

In cricket, BKT sponsored Kolkata Knight Riders in the 2023 Indian Premier League.

BKT has become the official title sponsor of EuroCup Basketball for 3 years.

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References

  1. ↑ "About Us | BKT Tires".
  2. 1 2 "Balkrishna Inds Slides After Q4 Pat Drops 32Percent Yoy To Rs 255 Cr". Capital Market. Retrieved 9 June 2023.
  3. ↑ "BKT opens 1st U.S. warehouse – Tire Business". Tire Business. Retrieved 24 January 2018.
  4. ↑ Shyam, Ashutosh R. (10 April 2014). "What makes Balkrishna Industries confident of achieving higher market share amid competition from Michelin, Bridgestone, and Continental?". The Economic Times. Retrieved 24 January 2018.
  5. ↑ "BKT investing in infrastructure, staff in North America". Tyrepress. 17 December 2014. Retrieved 24 January 2018.
  6. ↑ McCarron, Kathy. "Tire veteran Casalbore ready for challenge at BKT USA - Rubber & Plastics News". Rubber & Plastics News. Retrieved 24 January 2018.
  7. ↑ "BKT the official tyre of Monster Jam". Tyrepress. 4 March 2014. Retrieved 24 January 2018.
  8. ↑ "La B cambia nome: Si chiamerà Serie BKT fino al 2021". 22 June 2018.
  9. ↑ "Accord majeur de naming entre la Ligue 2 et BKT". LFP (in French). 15 January 2020. Retrieved 8 February 2021.
  10. ↑ "BKT retains Ligue 2 naming rights" . SportBusiness. 14 June 2023. Retrieved 6 July 2023.
  11. ↑ "BKT Becomes United Rugby Championship Northern-Hemisphere Title Sponsor". United Rugby Championship. 2 September 2022. Retrieved 31 August 2023.
  12. ↑ "United Rugby Championship lands BKT as northern-hemisphere title sponsor" . SportBusiness. 2 September 2022. Retrieved 31 August 2023.


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