Balkrishna Industries Explained

Balkrishna Industries Limited
Type:	Public
Traded As:
Foundation:	1987^[1]
Industry:	Auto and Truck parts
Location:	Mumbai, India
Area Served:	Worldwide
Products:	Tyres
Revenue:	(FY23)
Net Income:	(FY23)^[2]
Num Employees:	7000+

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.

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.

References

• Официальный сайт шин BKT в Украине

Notes and References

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