Ashok Mahansaria has been in the tyre business for over four decades now. In 1975, he co-promoted Balkrishna Industries Limited (manufacturer of paper boards and tyres).
By 2006, the paper boards business was considered the leader in the premium quality segment of the Indian market. The off-highway tyre business has become the fastest-growing and the most profitable tyre business in India.
In 2006, the Mahansarias parted ways with their partners in BKT tyres and set up a new venture that focused on the OHT business. They partnered with Warburg Pincus, a leading global private equity fund. They acquired a struggling tyre company in Israel and set up a greenfield manufacturing plant in India.
Fast forward to 2016, the Mahansarias had transformed the struggling tyre company into one of the world’s leading off-highway tyre brands with revenues reaching $ 600 million, and customers across 120 countries.
Ashok Mahansaria was also a co-promoter of Siyaram Silk Mills Limited (manufacturer of suiting and shirting fabrics) until 2006.
Ashok Mahansaria’s third venture, ASCENSO TYRES, has established a greenfield off-highway tyre manufacturing facility in Panoli, Gujarat (India). The cutting-edge facility, which spans 127 acres/55,30,000 square feet, has a manufacturing capacity of 80,000 MT and was built in two phases. Within three years, the company has expanded into five major global segments: agriculture, industrial and construction, material handling, earth moving, and forestry. Currently, ASCENSO is one of the fastest-growing off-road tyre brands in the world.
Yogesh Mahansaria’s journey in the tyre business began in 1993. He joined Balkrishna Industries Limited; a company co-promoted by the Mahansaria family.
His responsibilities included business development for the tyre business and soon he identified the opportunity to enter the global market for off-highway tyres.
In 2000, he was appointed as the CEO of the tyre business, a position he held till 2006. During this tenure, the tyre business revenue saw exponential growth, from $20 million to $125 million, and profitability increased manifold.
In 2006, Mr. Mahansaria and his father joined hands with Warburg Pincus LLC to establish Alliance Tyre Group (ATG), with the acquisition of Alliance Tyre Company, in Israel.
This was followed by the establishment of ATC Tires Pvt. Ltd, India, to set up greenfield off-highway tyre manufacturing plants in India.
In 2009, the group acquired the off-highway tyre distribution assets and brands of GPX International Tire Co of USA.
In just 10 years, Mr. Mahansaria transformed the group into one of the world’s leading off-highway tyre companies, with revenues reaching $600 million, and with customers across 120 countries. In 2016, ATG was acquired by The Yokohama Rubber Co. Ltd, Japan, one of the world’s leading tyre and rubber companies.
Mr Mahansaria has now promoted two new ventures, Mahansaria Tyres Private Limited (MTPL) /Ascenso and REISE MITAS TIRES LLP (RMTL) to focus on manufacturing opportunities in the tyre industry.
Under Mr. Mahansaria’s leadership, Ascenso quickly rose to the position of third largest Indian exporter of off-highway tyres. With their extensive selection of premium tyres, Ascenso is dedicated to helping customers realise their businesses’ full potential. This plant, which spans 127 acres of land and has an investment of more than US$ 200 million, will be able to produce 80,000 MT. Superior products are accompanied by unparalleled levels of service.
As Mr Mahansaria said ‘Never stop rising’ is our brand mantra to empower all our stakeholders, help them rise and contribute towards a sustainable, inclusive and compassionate society.
He focuses on building long-term and rewarding partnerships with his distributors, associates, suppliers as well as our own employees.
Mr Mahansaria has served as a Director on the Boards of: