Kesoram eyes tie-up with global tyre firm, plans to hive off business

While Kesoram is eyeing a partnership for the tyre business, it is also working on scaling up the business

Kesoram Industries aims to partner with a global tyre company to make its tyre business global within three to four years.

The process for demerging the tyre business is currently underway. The new company, Birla Tyres, will be independently listed. Of the company's two businesses, while the cement business has been consistently returning a positive EBIDTA, the tyre business - now in consolidation mode - has been incurring losses in the past few years. 

Addressing shareholders at the company's 100th annual general meeting, chief financial officer, P Radhakrishnan, said that the endeavour was to create value for shareholders in cement