Tax 212 New Delhi, 03 August 2024: Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q1 of FY2025.
Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “We continue to deliver profitable growth with year-on-year increase in operating margins. Our strategic thrust on premiumization and pricing have helped us to manage the raw material cost pressures. Although overall revenues were marginally lower due to decline in the OEM segment, this was largely offset by increased
exports.
During the quarter, exports recorded healthy double-digit growth, despite geo-political disruptions and rising ocean freights. Looking ahead, we expect export demand to pick up.
JK Tyre’s subsidiaries, Cavendish Industries Ltd. (CIL) and JK Tornel, Mexico, continued to make significant contributions to the overall revenues and profitability of the company.
We remain optimistic about the outlook for tyre demand, driven by ongoing policy reforms including continued focus on infrastructure development. Moreover, upcoming festive season and favorable monsoon condition augur well for the industry.
At JK Tyre, we are committed to continue our focus on digitalization, R&D, innovation, sustainability, customer-centricity, and technology-driven manufacturing.