JK Tyre & Industries Ltd has announced a key senior management appointment, bringing on board Shri Mandar Vighnahari Deo as President - India, effective April 14, 2026. The company informed stock exchanges about this appointment under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Leadership Appointment Details

The appointment sees Deo joining as a regular employee who will form part of the senior management team. The company made the announcement through official communication to both BSE Ltd and National Stock Exchange of India Ltd on April 14, 2026.

Professional Background and Experience

Shri Mandar Vighnahari Deo, aged 50, brings a strong educational foundation with a bachelor's degree in mechanical engineering from Pune University and both Master's degree and PhD from Pennsylvania State University. He has also completed his MBA from the Kelly School of Business at Indiana University.

Recent Leadership Role

Deo's most recent position was with Exide Energy Solutions Limited, a wholly owned subsidiary of Exide Industries, where he served as Managing Director and Chief Executive Officer. In this role, he played a pivotal role in establishing India's first lithium-ion cell manufacturing facility, which involved an investment of over Rs. 6,000 crores.

Extensive Industry Experience

Prior to his role at Exide Energy Solutions, Deo spent approximately 20 years with Cummins India and Cummins Inc., where he demonstrated versatile leadership capabilities:

• Held multiple leadership roles across various business units
• Managed profit and loss responsibilities
• Led diverse teams across manufacturing plants, technical centers, and sales operations
• Served as Board Director for Cummins Generator Technologies
• Held global roles in sales, marketing, and plant operations during his tenure in the United States of America

Strategic Value Addition

According to the company, Deo's deep industry knowledge and people-centric leadership approach will further strengthen JK Tyre's journey towards profitable growth. The appointment aligns with the company's vision of being a Green and Trusted Mobility Partner, leveraging his extensive experience in manufacturing and business leadership to drive organizational objectives.

JK Tyre & Industries Ltd. has disclosed receiving a GST demand order from tax authorities, totaling ₹1.39 crore including tax and penalty for alleged Input Tax Credit discrepancies during Financial Year 2019-20. The company has informed stock exchanges about this development under regulatory disclosure requirements.

GST Demand Order Details

The Assistant Commissioner, Division Okhla of Central Goods & Services Tax, Delhi South Commissionerate, issued Order-in-Original No. 1556/PM/AC/2025-26 dated 30.03.2026 under Section 74 of the Central Goods and Services Tax Act, 2017. The order was received by the company on 30.03.2026.

Allegations and Non-Compliance Issues

The order alleges wrongful availment of Input Tax Credit (ITC) by JK Tyre & Industries during FY 2019-20. The primary reasons cited by the tax authorities include:

• Alleged discrepancies in Input Service Distributor (ISD) credit
• Mismatches in ITC claimed across different financial years
• Discrepancies as reported in GSTR-9 and GSTR-9C returns

The demand order confirms a tax liability of ₹69,36,972 along with an equivalent penalty of ₹69,36,972 and applicable interest charges.

Company's Response and Financial Impact

JK Tyre & Industries has expressed confidence in its position regarding the GST demand. The company stated it believes it has a strong case to appeal before higher authorities. Accordingly, the company plans to file an appeal before the appropriate appellate authority.

Regarding financial implications, the company has indicated there is no expected financial impact arising from this order, citing its strong case for appeal. This suggests the company is confident about successfully challenging the demand through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary, Kamal Kumar Manik, signed the disclosure document dated April 1, 2026, ensuring compliance with stock exchange notification requirements for material events.