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JK Tyre Q1 net profit drops 21%; eyes margin lift on cost stability
Sequentially, net profit grew 70 per cent, with revenue from operations increasing 2.9 per cent.
Raghupati Singhania, Chairman and Managing Director, said: 'Despite a challenging and uncertain macroeconomic environment, exports of passenger car tyres witnessed strong traction both on a quarter-on-quarter and year-on-year basis, signifying pull for our products and enhanced brand perception in global markets.'
During the earnings call, Anshuman Singhania, Managing Director, said: 'Raw material costs have come down by about 2.5 per cent compared to the previous quarter and are expected to remain stable through the rest of the year. We don't anticipate any major volatility on that front. As we continue to optimise our product mix—particularly with the premiumisation of our passenger car segment, where 16-inch and above now account for 25 per cent of our portfolio—it is positively impacting our bottom line. With additional capacities coming on stream, we're well-positioned to meet growing market demand.'
Sanjeev Aggarwal, Chief Financial Officer, added: 'The worst is behind us in terms of raw material prices. If they remain stable as expected, we foresee margin improvement going forward, driven by a stronger product mix and the benefits of operating leverage.'
The company said its subsidiaries—Cavendish (India) and Tornel (Mexico)—contributed significantly to overall financial performance.
JK Tyre also anticipates a pick-up in tyre demand in the second half of the fiscal year, backed by economic momentum and a continued infrastructure push.
The results were announced during market hours. The stock rose 1.05 per cent to close at ₹327.55 apiece on the BSE.
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