Kesoram Industries’ restructuring programme, which began in June 2014, has finally started paying off for the company, as it was able to pull out from the red during the first half of the current fiscal year.
The restructuring agenda mainly centred around the tyre business which saw an over-capacity production resulting in consolidated loss for the company.
In the first half (H1) of the current fiscal year, the B.K. Birla Group company’s revenue from tyre business saw a decline of 18 per cent to Rs 902.73 crore as against Rs 1,095.72 crore in the H1 period of the last fiscal year. Nevertheless, it barely managed to post a gross profit of Rs 64 lakh in the period under review as against t…
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