JK Tyre & Industries announced a 42% year-on-year decline in its consolidated Profit After Tax (PAT) for the September quarter, totaling ₹144.25 crore, down from ₹250.25 crore in the same period last year. The company’s total income for the quarter dropped by 6.7%, reaching ₹3,643.15 crore, compared to ₹3,905.32 crore in Q2 of the previous fiscal year.
In a statement, JK Tyre attributed the decline in operating profit margins to a significant rise in natural rubber prices, caused by adverse weather conditions and disruptions in the supply chain. Despite the challenges, the company maintained the highest market share in the electric vehicle bus category across OEM and replacement markets.
Chairman and Managing Director, Raghupati Singhania, noted that the company managed to hold its volume and presence in the passenger car segment despite reduced demand. The commercial vehicle segment also experienced a slowdown, attributed to the general election and unusually heavy rains affecting revenue growth.
Singhania mentioned that the improved export performance partially helped offset the domestic slowdown. The company mitigated the impact of rising rubber prices through strategic price increases, premium product offerings, and inventory management.
Looking ahead, Singhania expressed optimism for the second half of the year, anticipating increased demand due to the festive season, resumed government infrastructure spending, and a recovery in construction and industrial activities following the monsoon season.
JK Tyre also highlighted the continued strong performance of its subsidiaries, Cavendish Industries and JK Tornel, Mexico, in contributing to the company’s overall revenues and profitability. JK Tyre & Industries Ltd, the flagship of the JK Group, ranks among the top 25 tire manufacturers globally.
Known for pioneering radial tire technology, JK Tyre introduced India’s first radial tire in 1977 and is now the leader in the Truck Bus Radial segment. The company offers comprehensive solutions across a range of vehicle types, from passenger and commercial vehicles to farming equipment and Off-the-Road (OTR) tires, as well as tires for two- and three-wheelers.
With a global presence spanning 105 countries and over 180 distributors, JK Tyre has built an extensive international footprint. The company operates 12 sustainable manufacturing facilities—nine in India and three in Mexico—which produce around 32 million tires annually.
Its extensive network includes more than 6,000 dealers and specialized brand outlets known as Steel Wheels, Truck Wheels, and Xpress Wheels. Through this wide-reaching distribution, JK Tyre exports to about 100 countries, supported by over 230 distributors worldwide, making it a major player in the global tire industry.
