BKT plans growth strategy to achieve 10 percent global off-highway tire share by 2030

By Staff Report May 28, 2025 12:08 pm IST

Balkrishna Industries Ltd. (BKT) announced a comprehensive five-year strategic plan aimed at expanding its global footprint in the off-highway tire market.

Balkrishna Industries Ltd. presented a new five-year strategic plan, aiming to achieve total revenues of INR ₹23,000 crores (approximately USD 2.6 billion) by 2030. The plan includes total investments of ₹3,500 crores (USD 400 million), to be funded primarily through internal funding.

Focuses on three main areas: strengthening leadership in the off-highway sector, expanding the carbon black business, and entering new tire categories for the Indian market.

In the Off-Highway Tires (OHT) segment, BKT will continue to consolidate its global leadership in the agricultural sector while strengthening its position in rubber tracks, mining, industrial, and construction segments. The commercialisation of rubber tracks, the Board has approved the expansion of the production facility, which is expected to be operational in the second half of 2026. In parallel, the company will continue to develop its mining range, supported by its All-Steel Radial technology up to 57 inches, complementing the Bias range. Geographically, growth efforts will focus on the Americas, India, and selected international markets while maintaining a presence in Europe.

In the Carbon Black business, BKT built a foundation over the past three years, positioning itself as a partner for tire manufacturers both in India and internationally. The company is strengthens its presence in the speciality carbon black segment, targeting non-tire applications. This non-tire segment, which includes speciality and advanced carbon black grades, is expected to become a pillar of growth in BKT’s carbon black business.

To support this, the Board has approved an expansion of production capacity from 200,000 to 360,000 metric tonnes per year, which includes the development of advanced carbon black. The project is scheduled for completion by early 2026. The third strategic pillar concerns entry into new tire categories.

Following results in the Indian OHT segments and considering Indian economic growth, the company announced the development and launch of two new product lines for the domestic market: Truck & Bus Radial (TBR) and Passenger Car Radial (PCR).

TBR tire pilots are scheduled for launch in Q4 of FY25–26 and then ramped up, followed by PCR tire pilots in Q3 of FY26–27 and then ramped up. These new verticals are expected to contribute around 20% of overall sales by 2030. An industrial structure underpins the plan, utilising shared infrastructure and resources, existing synergies between production hubs, and brand investments.

This approach will allow BKT to scale without compromising profitability. Despite global macroeconomic volatility, the company closed the fiscal year with revenue and volume growth. In FY 2024–25, BKT reported revenues of ₹10,615 crores, marking a +13% increase over the previous year.

Rajiv Poddar, Joint Managing Director, BKT, stated, “With this development plan, we are setting a vision for BKT’s future—built on foundations, modularity, and organic growth. We are entering new product categories with the same focus and consistency that have driven us in the off-highway space, backed by the trust we’ve earned worldwide.”

As BKT charts this next phase of growth, the company remains committed to its vision in the off-highway segment. The goal of achieving a 10% global market share in off-highway tires by 2030 stands at the core of its strategy, consolidating BKT’s position in segments and expanding its presence across global markets. With a roadmap, targeted investments, and a modular approach to expansion, BKT is positioning itself to lead across segments while staying aligned with its values of reliability, performance, and partnerships.