New Delhi, November 06, 2024: Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q2 of FY2025.
Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “JK Tyre, maintained it’s volumes & presence in the Passenger Car segment despite lower demand in the category. Commercial vehicle segment also witnessed slackening attributable to general election and unusual heavy rains affecting revenue growth during the quarter. Improved export performance helped partly offset the domestic slowdown”. JK Tyre, continues to enjoy highest market share across all OEM and Replacement markets in EV Bus category.
Operating profit margins were affected by a sharp rise in natural rubber prices, driven by adverse weather conditions and supply chain disruptions. However, the impact was partially mitigated through judicious price increase, product premiumization and strategic inventory built-up.
As we move into the second half of the year, we expect demand to improve, driven by the upcoming festive season, resumption of government infrastructure spends and normalization of construction, industrial and mining activities post heavy rainy season.
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.
JK Tyre, is a Green Company and is committed to reducing carbon intensity by 50% by 2030. Sustainability is at the core of it’s activity, be it manufacturing excellence or development of next-generation technological advanced products.
He further added that, It is indeed a matter of pride that, “JK Tyre has been honored with the prestigious Mahatma Award 2024 for its dedicated efforts toward sustainable development and community building.”