AK Bajoria, Director and President-International Operations at JK Tyre and Industries, said the company may have to take a price hike by the end of January due to higher raw material price.
Very strong earnings from JK Tyre in the third quarter with a big improvement in the India business with margins spiking and significant operational improvement in the Mexican business.
In an interview to CNBC-TV18, Bajoria said, "Towards the end of January, we may have to take price increase. We have done some inching up in the beginning of January to take care of the natural rubber prices which have shot up. However, I am hopeful that Q4 will be similar to Q3 and it depends on raw material prices where we may have to increase some more price."
On growth front, he said, "We are getting more traction from replacement market and in that replacement market there is a huge traction from the rural market and that has helped us to achieve sales as well as the margins."
Bajoria added, “We have been focusing on increase market presence through huge network expansion and in the last 6 months we have added about 650 dealers in our total network and now we have nearly 6000 dealers across the country."
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