CHAPTER – I

COMPANY PROFILE

VISION OF JK TYRE
“To be amongst the most admired companies in India committed to excellence.”

MISSION OF JK TYRES

 To be the largest & most profitable tyre company in India.

 To retain No. 1 position in truck & bus segment & to be amongst top two in all
other 4- wheller tyre
 To make truck/bus radial operations profitable & retain leadership in the
passenger radial market.
 To be the largest Indian tyre exporter. Continue to be a significant player in the
world in truck & bias market.
 To be a customer obsessed company.
 To enhance value to shareholders & service to all stakeholder.

We the people of J K TYRES will have an organisation committed to quality

in everything we do.

We will continuously anticipate and understand our customer’s requirements,

convert these into performance standards for our products and services and meet
these standards everytime. Full-customer satisfaction- both internal and external- is
our motto.

J K industries set up its first tyre plant at Jajkajgram near Udaypur, Rajasthan
in 1977. The plant with an installed capacity of 5 lakh tyres per annum was
established in technical collaboration with General Tire International co., U S A.

As J K Tyre grew from strength to strength, demand for tyres increased

proportionally to meet this growing demand, the plant at Rajasthan was expanded
and by 1990. The plant was producing nearly 14 lakhs tyres per annum.

J K Tyre then went on to establish what is rated as the most modern plant in
India, a state of the art tyre plant in 1991, at Banmore near Gwalior, Madya
pradesh.

The plant deploys the most sophisticated techniques such as a Betaray

scanner, X-ray, units, computer controlled processing and tyre testing machines to
ensure a high quality of products. Both the plants have set standards of efficiency
and productivity in the tyre industry and have consistency operated at high capacity
1
utilisation with a total capacity of
28.13 lakhs tyres per annum.

J K Tyres focus on R & D the plants ensures not just the incorporation of the
latest technology in products but also helps in the development of new types and
sizes of tyres.

With the strategic acquisitions of a controlling interest in Vikrant Tyre Limited.

The V T L plant at Mysore to contributes to J K Tyres total production capacity at its
plants, which amounts to 40 lakhs tyres per annum.

We believe that people are the biggest asset that a firm can possess.
J K Tyre offers unlimited opportunity for committed motivated individuals at all
levels and across a wide range of areas.

To ensure the same, J K Tyre has developed for its employees an

infrastructure consisting of: -
1. Regular upgradation of skill and practices

2. Management development programs.

3. National and international training if you dream of working for a globally

growing Corporation that encourages excellence rewards merit and initiative.

Vast in its operations and massive in its seal of activities JK Industries is a mega
corporate entity that is emblematic excellence diversification and pioneering new
technologies.

A part of J K Organisation that ranks among the top private groups in India, J
K Industries is committed to self-reliance and follow an ethic that views customer
satisfaction as an index of achievement.
Aside from J K Tyre, the flagship brand of the corporation, J K Industries

includes: - JK Sugar – The manufacturer of the best quality sugar in

the country.

JK Agrigenetics – The Company that is revolutionizing Indian agriculture

through its research and production of pest-resistant and high yield hybrid seeds and
crops.

J K International: - A diversified trading house that exports a range of

products including textiles and leather goods, pharmaceuticals, tea, coffee, spices,
processed food and de-oiled cakes, to developed countries like USA, UK, Canada,
Germany, Netherlands and to countries in the middle east, west Asia.

2
 WHAT IS J K TYRE: -

1. It is the leading manufacturer of Radial tyres for both truck and car

2. It is the only supplier of the tyre for Mercedizs Benz

3. First to get the ISO 9001 certificate in the entire world for the entire operation
4. 2 largest manufacturer for 4 wheelers in India
nd

5. 16 largest tyre manufacturer in the world

th

6. First Indian company to export for radials to Europe

7. First Indian company to export over 45 countries across Six Continents

8. First and only Indian company to get the ‘E’ mark Certificate
9. J K Tyre has 25-customer centers around the country.

10. J K Tyre the only Indian Company producing radials for the entire ranges i.e.,
Trucks, buses, LCV’s and Cars.

J K Tyre supplies tyres to different cars they are as follows: -

Ambassador, Armada, Cielo GL, Cielo GLE, Contessa, Fiat UNO, Ford
Escort, Mahindra commander, Mahindra classic, Maruthi Esteem, Maruthi Omni,
Maruthi Gypsy, Maruthi Zen, Maruthi 800, Hyundai santro, Mercedise Benz, Opel
astra, Peugot GI and GLD, Premier padmni, Premier 118NE, TATA
Estate, TATA Mobile, TATA Sierra, TATA sumo, Honda City,
Mitsubishi lancer.

PRODUCT MIX OF JK TYRES: -

BIAS—TRUCK: -

 JET-TRAK
 JET-TRAK 39
 HIGRIP
 SAND CUM

HIGHWAY BIAS—

TRUCK / BUS: -

 JETKING
 JETRIB
3
  NULIFE HIGH WAY KING

RADIAL TRUCK: -

 JET STEEL—NS
 STELL KING—NS

RADIAL- CAR: -

 RALLY
 TORNADO
 AQUASONIC
 ULTIMA
 ULTIMA—XS
 BRUTE

JK TYRE launched the radial tyres because of the following advantages it gave to
its customer some of the advantages are as follows: -

1. J K Steel belted radials help in fuel saving

2. Retreated radials give better mileage than retreated ordinary bias tyres.

3. Radials enhance the comfort level while driving

4. Tyre can wear and tear the effect even if there is under –inflation pressure.

ABOUT THE RALLY: -

J K Tyre has been largely responsible for promoting motor sports in India and
bringing it to the forefront of national consciousness a role the company continues to
play.

Our involvement extends to all levels from the grass roots to the professional
and encompasses rallying, racing, Go-karting. Family navigational rallies and
vintage car rallies, pioneer in developing motor car rally talent in the nation, J K
Tyre has the country’s most successful rally team.

THE DIFFERENT STANDARDS HELD BY THE J K TYRES: -

1. I S O 9001 Standard
4
 2. Q C 9000 Standard

J K Tyre is the Ist tyre manufacturer in the world to get the ISO 9001
certificate in 1994 itself, for its entire operations, including marketing, design,
development, manufacturing, testing, stocking, distribution, sales and services of
conventional (bias) and radial tyres, tubes and flaps.

J K Tyre has become the only tyre manufacturer in India and the first tyre
manufacturer in the world to achieve the Q C 9000 for multi location operations, in
the year 1998.

J K Tyre is attaining another milestone in its plan of achieving TQM, i.e.,

Total Quality Management, and CII-EXIM award by 2000

THE DIFFERENT AWARDS HELD BY THE J K TYRE AND J K INDUSTRIES ARE :

-

 National Export award

 Brand Equity award

 Capexil award (top export award)

Vision, Mission and Quality Policy

Vision:-

“TO BE AMONGEST THE MOST ADMIRED COMPANIES IN INDIA

COMMITED TO EXCELLENCE”

5
Mission :

➢ To be a customer obsessed company.

➢ To be the largest and most profitable tyre company in India.
➢ To retain No 1 position in truck and bus segment and to be amongst
top 2 in all other 4 wheeler tyres.
➢ To make truck/bus radial operations profitable and retain
leadership in the passenger radial market.
➢ To enhance value to shareholders and service to all stake holders.
➢ To excel as a value driven organization.
➢ To be the most preferred tyre brand in India.

Quality Policy:

The people of JK Tyre have an organization committed to quality in

everything they do.
They continuously anticipate and understand customer requirement,
convert these into performance standards for their product and service
and to meet the standards every time.

J K Industries

JK Organization owes its name to Late Lala Juggilal Singhania, a dynamic

personality with a broad vision, Inspired by the Swadeshi movement of Mahatma
Gandhi, and driven by the zeal to set up an Indian enterprise, Lala Kamlapat
Singhania founded JK organization in the 19th century in India.
The process of industrialization and diversification was worthily and successfully
carried on by Lala Kamlapat’s three illustrious sons Sir Padampat, Lala Kailashpat and
Lala Laksmipat, aided in no small measure by the late Gopal Krishna son of sir
Padampat.
JK Organization has been a forerunner in the economic and social advancement
of India. It always aimed at creating job opportunities for a multitude of country
men and provides high quality of products. It has driven to make India self reliant
by pioneering the production of number of industrial and consumer products, by
adopting latest as well as developing its own know-how. It has also under taken
industrial ventures in several other countries.
JK Organization is an association of industrial and commercial companies and
charitable trust. Its member companies, employing nearly 50000 persons are engaged in
6
the manufacture of variety of products and in diverse fields of commerce.
.
CHAPTER: II

THEORETICAL ASPECT

INTRODUCTION (INVENTORY MANAGEMENT)

“Adequate inventories facilitates production activities and help to

customers satisfaction by providing good service.”
The basic financial aim of an enterprise is maximization of its value. At the
same time, a large both theoretical and practical meaning has the research
for determinants increasing the firm value. Most financial literature
contains information about numerous factors influencing the value. Among
those factors is the net working capital and elements creating it, such as the
level of cash tied in accounts receivable, inventories and operational cash
balances. A large majority of classic financial models proposals, relating to
the optimum current assets management, were constructed with net profit
maximization in view. In order to make these models more suitable for
firms, which want to maximize their value, some of them must be
reconstructed. In the sphere of inventory management, the estimation of
the influence of changes in a firm’s decisions is a compromise between
limiting risk by having greater inventory and limiting the costs of
inventory. It is the essential problem of the corporate financial
management.
The basic financial inventory management aim is holding the inventory to a
minimally acceptable level in relation to its costs. Holding inventory means using
capital to finance inventory and links with inventory storage, insurance, transport,
obsolescence, wasting and spoilage costs. However, maintaining a low inventory
level can, in turn, lead to other problems with regard to meeting supply demands.
The inventory management policy decisions, create the new inventory level in a firm.
It has the influence on the firm value. It is the result of opportunity costs of money
tied in with inventory and generally of costs of inventory managing. Both the first
and the second involve modification of future free cash flows, and in consequence
7
the firm value changes.

Inventory changes (resulting from changes in inventory

management policy of the firm) affect the net working capital level and
the level of operating costs of inventory management in a firm as well.
These operating costs are result of storage, insurance, transport,
obsolescence, wasting and spoilage of inventory.

Maximization of the owners’ wealth is the basic financial goal in

enterprise management. Inventory management techniques must contribute to
this goal. The modifications
to both the value-based EOQ model and value-based POQ model may be
seen in this article. Inventory management decisions are complex. Excess
cash tied up in inventory burdens the enterprise with high costs of
inventory service and opportunity costs. By contrast, higher inventory
stock helps increase income from sales because customers have greater
flexibility in making purchasing decisions and the firm decrease risk of
unplanned break of production.
Although problems connected with optimal economic order quantity and
production order quantity remain, we conclude that value-based
modifications implied by these two models will help managers make
better value-creating decisions in inventory management.
INTRODUCTION OF INVENTORY

Inventories constitute the most significant part of current assets of a large

majority of companies in India. On an average, inventories are approximately
60% of current assets in public limited companies in India. Because of the
large size of inventories maintained by firms, a considerable amount of feuds
is required to be committed to them. It is therefore, absolutely imperative to
ménage inventories efficiently and efficiently in order to avoid unnecessary
investment. A firm neglecting the management of inventories will be
jeopardizing its long run profitability and may fail ultimately. It is possible for

8
fore a company to reduce its levels of inventories to a considerable degree e.g.
10 to 20 percent, without any adverse effect on production and sales, by using
simple inventory planning and control techniques. The reduction in excessive
inventory carries a favorable impact on a company’s profitability.
RAW MATERIALS:-

Raw materials are those inputs that are converted into

finished product though the manufacturing process. Raw materials
inventories are those units which have been purchased and stored for
future productions.
WORK IN PROGRESS

These inventories are semi manufactured products. They represent

products that need more work before they become finished products for
sales.

PACKAGING MATERIAL

Packaging material includes those items which are used for packaging
of perfumery product i.e. cap of the bottle, pump, coller,liver, box etc.

FINISHED GOODS

Finished goods inventories are those completely

manufactured products which are ready for sale. Stock of raw materials
and work in progress facilitate production. While stock of finished goods
is required for smooth marketing operation. Thus, inventories serve as a
link between the production and consumption of goods.

The levels of four kinds of inventories for a firm depend

on the nature of its business. A manufacturing firm will have substantially
high levels of all three kinds of inventories, while a retail or wholesale firm
will have a very high and no raw material and work in progress
inventories. Within manufacturing firms, there will be differences. Large

9
 heavy engineering companies produce long production cycle products,
therefore they carry large inventories. On the other hand, inventories of a
consumer product company will not be large, because of short production
cycle and fast turn over.

INVENTORY MANAGEMENT

As the cost of logistics increases the manufacturers are looking to

inventory management as a way to control costs. Inventory is a term used
to describe unsold goods held for sale or raw materials awaiting
manufacture. These items may be on the shelves of a store, in the
backroom or in a warehouse mile away from the point of sale. In the case
of manufacturing, they are typically kept at the factory. Any goods
needed to keep things running beyond the next few hours are considered
inventory.

"Inventory" to many small business owners is one of the more visible and
tangible aspects of doing business. Raw materials, goods in process and
finished goods all represent various forms of inventory. Each type
represents money tied up until the inventory leaves the company as
purchased products. Likewise, merchandise stocks in a retail store
contribute to profits only when their sale puts money into the cash
register.

In a literal sense, inventory refers to stocks of anything necessary to do

business. These stocks represent a large portion of the business
investment and must be well managed in order to maximize profits. In
fact, many small businesses cannot absorb the types of losses arising from

10
 poor inventory management. Unless inventories are controlled, they are
unreliable, inefficient and costly.

Inventory management simply means the methods you use to organize,

store and replace inventory, to keep an adequate supply of goods while
minimizing costs. Each location where goods are kept will require
different methods of inventory management. Keeping an inventory, or
stock of goods, is a necessity in retail. Customers often prefer to physically
touch what they are considering purchasing, so you must have items on
hand. In addition, most customers prefer to have it now, rather than wait
for something to be ordered from a distributor. Every minute that is spent
down because the supply of raw materials was interrupted costs the
company unplanned expenses

IMPORTANCE OF INVENTORY

Inventory represents one of the most important assets that most businesses
possess, because the turnover of inventory represents one of the primary sources
of revenue generation and subsequent earnings for the company's
shareholders/owners.

The word 'inventory' can refer to both the total amount of goods and the act of
counting them. Many companies take an inventory of their supplies on a regular
basis in order to avoid running

out of popular items. Others take an inventory to insure the number of items ordered
matches the actual number of items counted physically. Shortages or overages after an
inventory can indicate a problem with theft or inaccurate accounting practices. Possessing a
high amount of inventory for long periods of time is not usually good for a business because
of inventory storage, obsolescence and spoilage costs. However, possessing too little
11
inventory isn't good either, because the business runs the risk of losing out on potential
sales and potential market share as well

CHAPTER – III

PRACTICAL ASPECTS

1) Raw materials

Raw materials are any items used to manufacture finished products, or the individual
components that go into them. These can be produced or sourced by a business itself or
purchased from a supplier. For example:

2) Work-in-progress (WIP) inventory

Work-in-progress (WIP) inventory again refers to retailers that manufacture their own
products. These are unfinished items or components currently in-production, but not yet
ready for sale. For our furniture business, this may be products that have been put together
without yet being painted or packaged.

3) Finished goods

Finished goods are products that are complete and ready for sale. These may have been
manufactured by the business itself, or purchased as a whole, finished product from a
supplier. Most retailers will either purchase whole, finished products from a supplier, or
have custom products manufactured for them by a third-party. Finished goods are
therefore often
12
4) Maintenance, repair & operations (MRO) goods
MRO goods are items used within the manufacture of products, but without directly
making up any part of a finished product. This can include items such as:

● Production & repair tools.

● Uniforms & safety equipment.

● Cleaning supplies.

● Machinery.

● Batteries.

● Computer systems

5) Packing materials

Packing materials are anything you use for packing and protecting goods - either while in
storage, or during shipping to customers. This is therefore particularly important for online
retailers. And may include things like:

● Bubble wrap.

● Padding.

● Packing chips.

● A variety of boxes.

13
JK TYRE & INDUSTRIES LTD. (JKTYRE) - RATIOS

RATIOS 2022 2021 2020

DEBT-EQUITY RATIO 1.09 1.25 1.57

CURRENT RATIO 0.95 0.94 0.92

ASSET TURNOVER RATIO 1.34 1.04 1.08

INVENTORY TURNOVER RATIO 5.89 5.36 5.46

DEBTORS TURNOVER RATIO 5.29 4.38 3.97

INTEREST COVERAGE RATIO 2.15 2.49 1.25

OPERATING MARGIN (%) 9.15 14.80 11.00

NET PROFIT MARGIN (%) 2.28 4.18 3.75

RETURN ON CAPITAL EMPLOYED (%) 8.70 11.73 7.41

RETURN ON NET WORTH (%) 7.43 11.25 11.00

14
 CHAPTER – IV
RESEARCH METHODOLOGY

OBJECTIVES OF RESEARCH

 COMMON INVENTORY VALUATION METHODS

 FIFO

 LIFO

 WEIGHTED AVERAGE

 SPECIFIC IDENTIFICATION

 INFLATIONARY EFFECTS ON VALUATIO

 RISING PRICES

15
 COMMON INVENTORY VALUATION METHODS

The methods a company uses to value the costs of inventory have a direct
effect on the business balance sheets, income statements and cash flows.
Three methods are widely used to value such costs. They are First-In,
First-Out (FIFO), Last-In First-Out (LIFO) and Average Cost. Inventory can
be calculated based on the lesser of cost or market value. It can be
applied to each item, each category or on a total basis.

FIFO

FIFO operates under the assumption that the first product that is put into inventory
is also the

first sold. An example of this in action can be made when we assume that
a widget seller acquires 200 units on Monday for Rs.1.00 per unit. The
next day, he spots a good deal and gets 500 more for Rs.75 per unit.
When valuing inventory under the FIFO method, the sale of 300 units on
Wednesday would create a cost of goods sold of Rs.275. That is, 200 units
at Rs1.00 each and 100 units at Rs.75 each. In this way, the first 200 units
on the income statement were valued higher. The remaining 400 widgets
would be valued at Rs.75 each on the balance sheet in ending inventory

16
LIFO

LIFO assumes instead that the last unit to reach inventory is the
first sold. Using the same example, the income statement and
balance sheet would instead show a cost of goods sold of Rs.225
for the 300 units sold. The ending inventory on the balance
sheet would be valued at Rs.350 in assets. When this method is
used on older inventories, the company’s balance sheet can be
greatly skewed. Consider the company that carries a large
quantity of merchandise over a period of 10 years. This
accounting method is now using 10-year-old information to
value its assets.

WEIGHTED AVERAGE

Average Cost works out a weighted average for the cost of

goods sold. It takes an average cost for all units available for
sale during the accounting period and uses that as a basis for
the cost of goods sold. To site our example again, we would
calculate the cost of goods sold at [(200 x Rs.1)

+ (500 x Rs.75)]/700, or Rs.821 each. The remaining 400 units

would also be valued at this rate on the balance sheet in ending
inventory.

17
 SPECIFIC IDENTIFICATION

A less commonly used, but important method to valuation is

called specific identification. This method is used for high-end
items that are more easily tracked. In some cases, this method
can be used for more common items, but less value is realized
from this accounting method is such cases. This is because
powerful and detailed tracking software is required to employ
specific identification on large numbers of goods.

INFLATIONARY EFFECTS ON VALUATION

No matter how you look at it, you are still coming up with 700
widgets that cost you a total of Rs.575. This would all be well
and good if the value of money remained static. However,
market conditions change causing inflationary changes. When
this happens, your accounting method can have a strong impact
on how healthy the business looks on income statements and
balance sheets. The affects cash flow when businesses seek
credit to pay for ongoing operations
18
 RISING PRICES

When prices are rising, using FIFO will show a greater value on
the balance sheet, thereby increasing tax liabilities but also
improving credit scores and the ability to borrow cash for ongoing
operations. Older inventory is being used to determine the cost of
goods sold and newer inventory is being used to report assets.
LIFO decreases the value on the income statement, but can reduce
the level of depreciation you are able to take on assets. This is
good for taxes but bad for borrowing. Industries most likely to
adopt LIFO are department stores and food retailers. The method
is rarely used in defenses. I selected the J K TYRE.

19
 CHAPTER – V

ANALYSIS AND GRAPHICAL PRESENTATION OF DATA

The data collected through the questionnaires is called as the primary data.
The primary data collected from 50 respondents through random sampling.

Percentages, bar diagrams, histogram, pie charts etc., are used for analysis of data.
The analysis is explained as follows: -

Sources through which respondents became aware

SI. NO: Options No. of Respondents %

1 TV 17 34
2 News paper/magazines 18 36
3 Friends 8 16
4 Others 7 14
Total 50 100

Source: Secondary data

20
 showing sources through which they became aware.

Interpretation:

It can be observed from the above table that 34% of the respondents are become aware of
the J K TYRE product through T V, 18 % from News paper and magazines, and 8% and 7 %
have aware through Friends and others.

21
 Usage of this brand in years.

SI. NO OPTIONS No. of respondents %

1 Less than 3 years 11 22
2 3 to 5 years 18 36
3 More than 5 years 21 44
TOTAL 50 100

Source: secondary data

Interpretation:

From the above table it is known that more than 44% of the
customers have been using this brand from more than 5 years and
36 %, 22% of the customers are using from less than 3 years.

22
 Analysis of switching to this brand.

SI NO: No of respondents %
1 Initial mileage 8 16
2 Re- treading 20 40
3 After sales service 10 20
4 Performance 12 24
TOTAL 50 100

Source: secondary data

showing the factor considered while purchasing the tyres.

Interpretation:
From the above table it is clear that while purchasing the tyres most of the (42%)
respondents consider the quality, 36% of the respondents consider the durability and 22 %
of them consider the price of the product

23
 Analysis of average period of purchasing the tyres.

SI NO: No of respondents %
1 3 Months 3 6
2 6 Months 6 12
3 9 Months 16 32
4 1 year & above 25 50
TOTAL 50 100

Source: secondary data

Showing the average period of purchase.

Interpretation:
It is difficult to tell that average period of purchasing it depends on how
use their vehicle and the weight they carry. From the above table we came
to know that 50 % of the respondents purchase tyres once in a year. And
less than 32 % purchase within 9 months.

24
 Analysis of satisfaction of design of this product.

SI NO: No of respondents %
1 Yes 32 64
2 No 18 36
TOTAL 50 100

Source: secondary data

showing the satisfaction of design of the product.

Interpretation:

From the above table and graph it is observed that more than 64% of the
respondents are satisfied with the design of the JK Tyres, and remaining are not
satisfied.

25
 Analysis of switching to this brand.

SI NO: No of respondents %
1 Initial mileage 8 16
2 Re- treading 20 40
3 After sales service 10 20
4 Performance 12 24
TOTAL 50 100

Source : secondary data

showing the factor considered while purchasing the tyres.

Interpretation:
From the above table it is clear that while purchasing the tyres most of the (42%)
respondents consider the quality, 36% of the respondents consider the durability and
22 % of them consider the price of the product

26
 Analysis of average period of purchasing the tyres.

SI NO: No of respondents %
1 3 Months 3 6
2 6 Months 6 12
3 9 Months 16 32
4 1 year & above 25 50
TOTAL 50 100

Source: primary data

Showing the average period of purchase.

Interpretation:
It is difficult to tell that average period of purchasing it depends on how use their vehicle
and the weight they carry. From the above table we came to know that 50 % of the
respondents purchase tyres once in a year. And less than 32 % purchase within 9 months

27
 Analysis of major advantages in this product.

SI NO: No of respondents %
1 Everything 29 58
2 Nothing --
3 Initial mileage 17 34
4 Smoothness 4 8
TOTAL 50 100
Source : secondary data

Interpretation:
From the above table58% of the respondents accepted that the
product of the JK Tyres for everything and 34% find major
advantage of initial mileage and 8% for smoothness of the
product.

28
 Analysis of satisfaction of design of this product.

SI NO: No of respondents %
1 Yes 32 64
2 No 18 36
TOTAL 50 100

Source : secondary data

showing the satisfaction of design of the product.

Interpretation:

From the above table and graph it is observed that more than 64% of the
respondents are satisfied with the design of the JK Tyres, and remaining are not
satisfied.

29
 Analysis of price.

SI NO: No of respondents %
1 Yes 42 84
2 No 8 16
TOTAL 50 100

Source: primary data

showing the price satisfaction.

Interpretation:
From the above table it is known that 84 % of the respondents are happy with the
price of this brand and remaining 16 % of the responders are unhappy with this
brand

30
 Analysis of the out look and style of this brand.

SI NO: No of respondents %
1 Yes 38 76
2 No 12 24
TOTAL 50 100

Sources primary data

Showing the outlook and style of the product

Interpretation:

From the above table and diagram it is observed that more than 76 % of the respondents are
satisfied with the style and design of this brand and remaining are not satisfied.

31
Services preferred from this brand.

SI NO: No of %
respond
ents
1 Product 13 26
knowle
dge
2 Door 15 30
deliver
y
3 Monthl 22 44
y camp
TOTAL 50 10
0
Source : secondary data

showing the services they prefer.

Interpretation:

From the above table it is clear that (44%) most of the respondents
are prefer monthly camp, 30% prefer door delivery of the product and 26%
prefer like product knowledge.

32
 6.15 Analysis of the relationship they have with this brand.

SI NO: No of respondents %
1 Regular 35 70
2 Occasional 7 14
3 Special 5 10
4 Rare 3 6
TOTAL 50 100

Source: secondary data

showing the relationship they have with this brand.

Interpretation:
From the above table it can be observed that 70% have the
regular relationship, and 14% of the respondents are occasional
relation and 10 % have Special relationship.

33
 CHAPTER – VI

FINDINGS

 It is found in survey that 24 % of the respondents are not satisfied with

the product quality.

 It is observed that only 18 % of the respondents are dissatisfied for the

after sales service.

 It is observed from the survey that many of your consumers want to

shift over to MRF (52%), Ceat (10%), TVS (10%), Modi (8%), and 4%
to Good year.

 24% and 76% of the respondents are dissatisfied with the re-treading
and mileage performance of J K TYRES.

 It is found in the survey that most of the respondents are getting

information about the JK Tyres products through the Television (34 %)
and Newspaper (36%).
 In the survey it came to know that most of the respondents have come
to know about the JK Tyres from more than 5 years, it is clear that the
JK tyres company has been taking steps to give information about its
products.

 It is observed through the survey that only 16 % of the respondents are

cost conscious, and 64 % of the respondents are quality conscious they
prefer only because of quality and durability.

 It is found in the survey that 40 % of the respondents switching to this

brand because of re-treading and 24% are because of performance.

While purchasing tyres 42% of the respondents consider quality. 36% of the respondents
consider durability of course price is also major important they don’t worry about this
much more.

 Purchasing of tyres frequently is depends upon the how they use

vehicles and the weight they carry, more than 50% of the respondents
purchase once in a year.

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  More than 44 % of the respondents preferred service of the monthly
camp for quick knowledge.

 It is observed in the survey that more than 64% of the respondents

satisfied with the design, and 76% of the respondents satisfied with the
out look and style of the tyres.
 Company is not encouraging credit basis of selling the products.

 Regarding pricing when compared with the other competitor’s pride of

this product, respondents are happy with the price of the JK tyres
because quality and price are equal.

More than 58 % of the respondents have accepted this brand only because they are getting
major advantages form this brand

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 CHAPTER – VII

CONCLUSION

Success and failure of any business enterprise depend upon

the quality products and services that company provides. In the present
scenario customers are more attracted towards the quality.

In olden days customers preferred the products that were suggested

by the friends and neighbors. But now it is not like that they purchase
which ever they, like because they are getting information about the
product quality and about the company’s marketing strength.

In order to demonstrate its commitments towards quality, JK Tyre

has made never-ending efforts to make all its products of world-class
quality.

Even though competitions at international market, JK Tyre keep its

name and fame in the international market by consciously following a
policy of continuously modernizing and expanding its tyre manufacturing
facilities to retain its edge in the market.

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 CHAPTER – VIII

SUGGESTIONS

From the above findings the following suggestions were made.

1. Quality is a main tool to get a good market of the product. The

quality should be accepted by all respondents. Even if a small
percentage are dissatisfied, they always reject and opinion always
will negative. In this context it is suggested that the company
should improve the quality of tyres, tubes and other items to win
the consumers hearts to obtain the market share.

2. In every business customer care is very important in post and pre

sale, many precautionary steps should be taken in all the levels of the
activities. It is suggested that company should introduce programs like
consumer council, sale after service etc. these steps will encourage the
consumers to explain their own feelings and opinion.

3. Satisfaction of old customer and searching for new customer is the

main policy of all the business. In this respect it is suggested that
maintaining good quality, economy in price, promotional policy and
appointing effective dealers will help to attract the new customers.

4. Credit system introduction is necessary in mobilizing of sale. This

system will help to keep many more customers as well as getting new
customer.

It is suggested that the dissatisfaction of the customer will loose the reputation and
switching over to competitors product. In this aspect it is suggested that improvement and
standardization of the product quality will bring down the problems while marketing the
product

37
 BIBLIOGRAPHY

MARKETING MANAGEMENT-- SHERLEKAR

MARKETING MANAGEMENT-- PHILIP KOTLER

PRODUCT MANAGEMENT-- GANDHI

MARKETING MANAGEMENT-- W.J. STANTON

RESEARCH METHODOLOGY -- O.R. KRISHNA SWAMI

RESEARCH METHODOLOGY -- C.R. KOTHARI

WEB SITE -- www.jktyre.com

Economic Times -- Daily newspaper

Business Line -- Daily newspaper

JOURNALS AND MAGAZINES: -

THE WEEK BUSINESS INDIA OUT LOOK

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 ANNEXURE

BalanceSheet - JK Tyre & Industries Ltd.

Rs (in Crores)

Particulars Mar'22 Mar'21 Mar'20 Mar'19 Mar'18

Liabilities 12 Months 12 Months 12 Months 12 Months 12 Months

Share Capital 49.25 49.25 49.25 49.24 45.36

Reserves & Surplus 2476.85 2349.14 2113.25 1945.88 1598.93

Net Worth 2526.10 2398.39 2162.50 1995.12 1644.29

Secured Loan 2820.93 1936.73 2993.13 3010.07 2980.13

Unsecured Loan .00 .00 .00 .00 .00

TOTAL LIABILITIES 5347.03 4335.12 5155.63 5005.19 4624.42

Assets

Gross Block 6082.39 5900.99 5829.44 5431.70 5513.79

(-) Acc. Depreciation 2733.19 2563.59 2330.48 2101.38 1935.87

Net Block 3349.20 3337.40 3498.96 3330.32 3577.92

Capital Work in Progress 79.00 68.77 60.88 73.80 83.31

Investments 791.11 733.10 723.80 596.61 544.87

Inventories 1532.84 1194.58 1095.53 1136.12 1026.01

Sundry Debtors 1667.38 1367.28 1436.03 1632.45 1289.72

Cash and Bank 76.27 62.97 46.28 100.30 72.29

Loans and Advances 649.02 492.11 627.01 535.78 584.29

Total Current Assets 3925.51 3116.94 3204.85 3404.65 2972.31

Current Liabilities 2760.73 2885.31 2279.74 2365.84 2523.71

Provisions 37.06 35.78 53.12 34.35 30.28

Total Current Liabilities 2797.79 2921.09 2332.86 2400.19 2553.99

NET CURRENT ASSETS 1127.72 195.85 871.99 1004.46 418.32

Misc. Expenses .00 .00 .00 .00 .00

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TOTAL ASSETS(A+B+C+D+E) 5347.03 4335.12 5155.63 5005.19 4624.42

Rs (in Crores)

40