Mumbai-based tyre maker Balkrishna Industries Ltd (BKT) has unveiled an ambitious strategic roadmap targeting revenue of US$2.6 billion by 2030, representing a significant expansion from its current operations focused primarily on off-highway tyres.
The company presented its five-year plan to the board of directors, outlining a total investment of US$400 million to be funded predominantly through internal resources. The strategy centres on three core pillars: reinforcing its leadership position in off-highway (OHT) segments, expanding carbon black operations, and entering new tyre categories specifically for the Indian domestic market.
BKT reported record revenue of INR106.15 billion for fiscal year 2024-25, marking a robust 13% increase over the previous year despite challenging global macroeconomic conditions. This performance has provided the foundation for the company’s ambitious expansion plans.
The most significant strategic shift involves BKT’s entry into passenger car radial (PCR) and truck & bus radial (TBR) tyre segments, moving away from its focus on agricultural and industrial applications. Both new product lines will target exclusively the Indian market, with TBR pilot launches scheduled for Q4 of FY25/26, followed by PCR pilots in Q3 of FY26/27. The company expects these new tyres to contribute approximately 20% of overall sales by 2030.
“With this development plan, we are setting a clear and ambitious vision for BKT’s future—built on solid 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,” said Rajiv Poddar, Joint Managing Director of BKT.
In its established OHT segment, BKT adds it will strengthen its positions in rubber tracks, mining, industrial, and construction applications. Following the successful commercialisation of rubber tracks, the board has approved expanding the dedicated production facility, which is expected to become operational in the second half of 2026.
The company plans to leverage its proprietary All-Steel Radial technology for mining applications, developing tyres up to 57 inches to complement its existing bias range. Geographically, growth efforts will concentrate on the Americas, India, and selected international markets whilst maintaining a steady European presence.
BKT’s carbon black division represents another growth engine. Over the past three years, it has established itself as a strategic partner for major tyre manufacturers domestically and internationally. The company focuses on speciality carbon black segments targeting high-performance non-tyre applications, including speciality and advanced carbon black grades.
Production capacity will expand from 200,000 to 360,000 tonnes/year to support the growth and the project is scheduled for completion by early 2026.
Despite the expansion into new categories, BKT adds it remains committed to its core OHT product line, targeting a 10% global market share by 2030.
BKT’s existing portfolio spans over 3,600 products sold across 163 countries worldwide, primarily serving agricultural, industrial, earthmoving, mining, ATV, and gardening sectors.