JK Tyre Reports Rs 36.55 bn Revenue in Q1 FY25

05 Aug 2024 CW Team

JK Tyre & Industries (JK Tyre) reported its results for the first quarter of the fiscal year 2025, achieving a revenue of Rs 36.55 billion. The company posted an EBITDA of Rs 5.16 billion with a margin of 14.1 per cent, and recorded a Profit Before Tax of Rs 2.90 billion and a Profit After Tax of Rs 2.12 billion.

Raghupati Singhania, the company's Chairman and Managing Director, noted that they had continued to achieve profitable growth with an increase in operating margins year-on-year. He attributed this success to their strategic focus on premiumisation and pricing, which helped them manage raw material cost pressures. Despite a slight decline in overall revenues due to a drop in the OEM segment, the impact was largely counterbalanced by increased exports.

During the quarter, exports experienced robust double-digit growth despite challenges from geopolitical disruptions and rising ocean freight costs. The company anticipated a rise in export demand in the near future. Singhania also mentioned that JK Tyre?s subsidiaries, Cavendish Industries (CIL) and JK Tornel in Mexico, had made significant contributions to the company's overall revenues and profitability.

The outlook for tyre demand was described as positive, supported by policy reforms, on-going infrastructure development, the approaching festive season, and favourable monsoon conditions. Singhania expressed optimism about the tyre demand outlook, emphasising the benefits of continuing policy reforms, infrastructure development, and positive seasonal factors for the industry.

JK Tyre remains dedicated to advancing its efforts in digitalisation, research and development, innovation, sustainability, customer-centricity, and technology-driven manufacturing.

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