FAMILY-RUN BUSINESS: Balkrishna Industries Ltd.

Founded: 1987 as a bicycle tire maker, then adding auto rickshaw and car tires to the mix. In the early 1990s, BKT went full steam into the off-the-road tire business.

Based: Mumbai, India

Number of generations: three—Mahabirprasad Poddar, founder and late chairman; his son Arvind Poddar, chairman and managing director; grandson Rajiv Poddar, joint managing director.

Number of employees: 7,500

Number of plants: 5—in Aurangabad, Bhiwadi, Chop¬anki, Dombivali and Bhuj, India.

Key to longevity: BKT said it has been a pioneer seeking competitive advantages through developing new and innovative solutions and continuously investing in R&D. Its core values are the main reasons for success, according to the company, and include customer first, integrity, transparency, passion, innovation, family environment, commitment and social responsibility.

Today BKT manufactures and distributes OTR tires for agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, golf and gardening applications. The company recently opened its largest production plant, in Bhuj, India, which Rajiv Poddar said will almost double capacity “and thus help in pushing the growth momentum at BKT.”

Succession plan: Rajiv Poddar has been actively involved in the business and eventually will be running the company under the guidance of his father, BKT said.

“The name BKT stands for a unique asset representing the rich heritage of values passed down through traditions,” Arvind Poddar said. “Since nowadays change has become a way of life, we consider the continuity of values even more fundamental. We are committed to institutionalizing these key assets making sure that they are not compromised by short-term gains. We seek to create an environment where these values are brought to life.”

Rajiv Poddar added that “there are no limits to growth…. BKT has established solid roots over the years, bringing in radical changes, which steered our company ahead towards fast prospering growth….”