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Mint
27-05-2025
- Automotive
- Mint
CEAT, MRF among 4 tyre stocks that zoomed up to 22% following Q4 numbers. Do you own any?
Tyre stocks in focus: Shares of CEAT, JK Tyre & Industries, and MRF have surged following the release of their March quarter results. Strong financial performance, upbeat management commentary, and continued bullish sentiment from analysts have encouraged investors to increase their exposure to the tyre sector, driving stock prices up by over 20%. Ceat's share price has jumped from ₹ 3,060 to ₹ 3,728 over 16 trading sessions, resulting in a 22% gain following the release of its March quarter results on April 30. The strong performance also pushed the stock past the ₹ 4,000 mark for the first time, hitting a fresh all-time high of ₹ 4,044 apiece. Likewise, JK Tyre's share price rose over 9% after its March quarter results, while MRF gained 7% following its Q4 figures. Apollo Tyres also saw its share price increase by 5.5%. Despite tepid demand for new tyres during the reporting quarter, strong replacement demand from retail customers supported healthy volume growth for tyre manufacturers. In recent quarters, sluggish passenger vehicle sales have prompted tyre makers to increasingly rely on the replacement market to drive overall volumes. A key positive in the March quarter was the stability in raw material prices compared to Q3. However, some of that benefit was partially offset by the depreciation of the rupee against the US dollar. Tyre companies also implemented price hikes during the year, which helped cushion the impact of elevated input costs. Looking ahead to FY26, tyre companies have shared a positive outlook. CEAT expects continued double-digit growth, driven primarily by rising demand in the premium tyre segment. The company recently launched three new premium tyres — Run Flat Tyres, Z-rated 21-inch radials, and CALM tyres designed for EVs. CEAT currently holds a market share of 20–25% in the electric two-wheeler (E2W) and electric passenger vehicle (E-PV) segments and aims to maintain this share through new order wins. JK Tyre also noted that its premiumization strategy is yielding positive results. Its premium products — including Leuitas Ultra, Smart Tyre, Ranger Series, and Puncture Guard tyres in the passenger vehicle segment, along with the XF, XM, and XD series in the commercial segment —the company said are witnessing strong market traction. Analysts remain optimistic about the tyre sector's outlook, citing improving margin potential driven by a sharp decline in crude oil-based raw material costs and easing domestic rubber prices. Crude oil prices have fallen nearly 18% so far this year, which is expected to benefit oil-sensitive sectors like tyres. Following the strong March quarter performance, several domestic and global brokerage firms have reaffirmed their positive stance on leading tyre companies. Japanese brokerage firm Nomura upgraded CEAT stock to 'buy' from Neutral, raising its target price to ₹ 3,945 from ₹ 3,051. Emkay Global also maintained a 'buy' rating and increased CEAT's share price target to ₹ 4,100, while Motilal Oswal reiterated its 'buy' rating with a target of ₹ 3,818, noting CEAT's strategic focus on segments like passenger vehicles, two-wheelers, off-highway tyres, and exports, along with disciplined capex, is likely to support long-term margin and free cash flow improvement. Global brokerage CLSA raised its price target on MRF, one of India's most expensive stock, to ₹ 168,426 from ₹ 128,599, maintaining its 'outperform' rating. CLSA's new target is the highest on the Street, surpassing Anand Rathi's earlier peak of ₹ 160,000. CLSA added that MRF's superior product portfolio has enabled it to outperform peers and could help it generate free cash flow of ₹ 2,700 crore by FY27. In the case of Apollo Tyres, Motilal Oswal maintained its 'buy' rating with a target price of ₹ 554. ICICI Securities also reiterated its 'buy' call, raising the price target to ₹ 555 from ₹ 520. Nomura, meanwhile, adjusted Apollo Tyres' target price to ₹ 490 from ₹ 470 but retained a 'neutral' rating. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Business Standard
21-05-2025
- Automotive
- Business Standard
JK Tyre Inds surges after Q4 PAT climbs 88% QoQ to Rs 97 cr
JK Tyre Industries rallied 8.78% to Rs 378.50 after the company's consolidated net profit jumped 88.35% to Rs 97.04 crore on a 2.31% increase in revenue from operations to Rs 3,758.60 crore in Q4 FY25 over Q3 FY25. On a Year on year (YoY) basis, the company's revenue increased 1.6% while net profit declined 42.7% in Q4 FY25. In Q4 FY25 profit before tax stood at Rs 143.94 crore, up 79.05% QoQ and down 42.8% YoY. EBITDA jumped 15% QoQ to Rs 384 crore in Q4 FY25. EBITDA margin expanded 110 bps to 10.2% in Q4 FY25 as against 9.1% in Q3 FY25. This growth was supported by higher volumes and enhanced operational efficiencies, despite elevated raw material costs. On full year basis the companys consolidated net profit declined 37% to Rs 495.04 crore on a 2.1% fall in revenue from operations to Rs 14,692.92 crore in FY25 over FY24. Raghupati Singhania, chairman & managing director (CMD) said, Despite a challenging and uncertain global economic landscape, JK Tyre delivered a promising performance in FY2025, gaining significant momentum in the fourth quarter. In the domestic market, JK Tyre recorded a healthy uptick in both replacement and OEM segments compared to the same quarter last year. This growth reflects not only the Companys robust brand equity and deep market reach but also the positive macroeconomic environment and growing automotive demand. Exports grew by 4% quarter-on-quarter, underscoring the Companys strong international presence and competitive product offerings. JK Tyres subsidiary companiesCavendish Industries (CIL) and JK Tornel, Mexicocontinued to make strong contributions to the companys overall revenues and profitability, reinforcing JK Tyres integrated global strategy and diversified footprint. The companys ongoing push toward premiumisation is yielding positive results. Premium products such as Levitas Ultra, Smart Tyre, Ranger Series, and Puncture Guard tyres in the passenger vehicle segment, along with the XF, XM, and XD series in the commercial segment, are witnessing increasing market preference, strengthening JK Tyres position in the value-added product space. JK Tyre has displayed exceptional resilience and strategic clarity through FY2025. We are entering FY2026 with renewed confidence, backed by a robust demand outlook across all segments. The Governments accelerated focus on infrastructure, a strong pipeline of new vehicle launches, potential easing of interest rates, and an expected normal monsoon position us well for sustained growth. Meanwhile, the companys board recommended a dividend of Rs 3 per equity share of Rs 2 each for financial year 2024-25. The said dividend, if declared by the members at the ensuing Annual General Meeting (AGM), is planned to be credited/dispatched within two weeks of the said meeting Further, the companys board approved the re-appointment of Anshuman Singhania as a managing director for a term of five consecutive years with effect from 21st October 2025, subject to requisite approval of the members of the company at the ensuing Annual General Meeting (AGM). JK Tyre & Industries is a leading player in the Indian tyre industry, offering comprehensive end-to-end solutions across multiple segments. The company manufactures tyres for passenger vehicles, commercial vehicles, farm equipment, off-the-road (OTR) applications, and two- and three-wheelers.
Business Standard
21-05-2025
- Automotive
- Business Standard
JK Tyre Inds surge after Q4 PAT climbs 88% QoQ to Rs 97 cr
JK Tyre Industries rallied 8.78% to Rs 378.50 after the company's consolidated net profit jumped 88.35% to Rs 97.04 crore on a 2.31% increase in revenue from operations to Rs 3,758.60 crore in Q4 FY25 over Q3 FY25. On a Year on year (YoY) basis, the company's revenue increased 1.6% while net profit declined 42.7% in Q4 FY25. In Q4 FY25 profit before tax stood at Rs 143.94 crore, up 79.05% QoQ and down 42.8% YoY. EBITDA jumped 15% QoQ to Rs 384 crore in Q4 FY25. EBITDA margin expanded 110 bps to 10.2% in Q4 FY25 as against 9.1% in Q3 FY25. This growth was supported by higher volumes and enhanced operational efficiencies, despite elevated raw material costs. On full year basis the companys consolidated net profit declined 37% to Rs 495.04 crore on a 2.1% fall in revenue from operations to Rs 14,692.92 crore in FY25 over FY24. Raghupati Singhania, chairman & managing director (CMD) said, Despite a challenging and uncertain global economic landscape, JK Tyre delivered a promising performance in FY2025, gaining significant momentum in the fourth quarter. In the domestic market, JK Tyre recorded a healthy uptick in both replacement and OEM segments compared to the same quarter last year. This growth reflects not only the Companys robust brand equity and deep market reach but also the positive macroeconomic environment and growing automotive demand. Exports grew by 4% quarter-on-quarter, underscoring the Companys strong international presence and competitive product offerings. JK Tyres subsidiary companiesCavendish Industries (CIL) and JK Tornel, Mexicocontinued to make strong contributions to the companys overall revenues and profitability, reinforcing JK Tyres integrated global strategy and diversified footprint. The companys ongoing push toward premiumisation is yielding positive results. Premium products such as Levitas Ultra, Smart Tyre, Ranger Series, and Puncture Guard tyres in the passenger vehicle segment, along with the XF, XM, and XD series in the commercial segment, are witnessing increasing market preference, strengthening JK Tyres position in the value-added product space. JK Tyre has displayed exceptional resilience and strategic clarity through FY2025. We are entering FY2026 with renewed confidence, backed by a robust demand outlook across all segments. The Governments accelerated focus on infrastructure, a strong pipeline of new vehicle launches, potential easing of interest rates, and an expected normal monsoon position us well for sustained growth. Meanwhile, the companys board recommended a dividend of Rs 3 per equity share of Rs 2 each for financial year 2024-25. The said dividend, if declared by the members at the ensuing Annual General Meeting (AGM), is planned to be credited/dispatched within two weeks of the said meeting Further, the companys board also approved re-appointment of Anshuman Singhania as a managing director for a term of five consecutive years with effect from 21st October 2025, subject to requisite approval of the members of the company at the ensuing Annual General Meeting (AGM). JK Tyre & Industries is a leading player in the Indian tyre industry, offering comprehensive end-to-end solutions across multiple segments. The company manufactures tyres for passenger vehicles, commercial vehicles, farm equipment, off-the-road (OTR) applications, and two- and three-wheelers.
Time of India
20-05-2025
- Automotive
- Time of India
JK Tyre Q4 net profit skids 42.7% to ₹97 crore
JK Tyre & Industries reported a 42.7 per cent decline in its consolidated net profit for the fourth quarter of the last financial year (FY25) to ₹97 crore, as compared to ₹169.3 crore in the year-ago period. Its consolidated EBITDA for the quarter stood at ₹384 crore, marking a 15 per cent increase over the previous quarter. Profit before tax (PBT) rose 79 per cent quarter-on-quarter to ₹144 crore. The company attributed the improvement to increased volumes and operational efficiencies, despite persistent raw material cost pressures. For the full financial year (FY25), the tyre maker reported a 37 per cent fall in its net profit to ₹495.04 crore from ₹ 786.23 crore in FY24. JK Tyre 's subsidiaries— Cavendish Industries Ltd. (CIL) and JK Tornel , Mexico—continued to contribute to consolidated revenues and profitability, in line with the group's international expansion strategy. Outlook and sustainability focus The company reported growth in demand for premium products, including Levitas Ultra, Smart Tyre, Ranger Series, and Puncture Guard tyres in the passenger vehicle segment, as well as the XF, XM, and XD series in the commercial vehicle segment. Dr Singhania noted, 'JK Tyre has displayed exceptional resilience and strategic clarity through FY2025. We are entering FY2026 with renewed confidence, backed by a robust demand outlook across all segments. The Government's accelerated focus on infrastructure, a strong pipeline of new vehicle launches, potential easing of interest rates, and an expected normal monsoon position us well for sustained growth.' Separately, JK Tyre announced that it has received ISO 20400 certification from the British Standards Institution (BSI) for its sustainable procurement practices in the raw material supply chain.
