Powered by: Motilal Oswal

News

DEG invests in JK Tyre; EUR 30 million loan for Expansion of production capacities in Madhya Pradesh DEG – Deutsche Investitions- und Entwicklungsgesellschaft will provide JK Tyre & Industries Ltd (JKTIL), a member of the JK Organisation, with a long-term loan of EUR 30 million. The funds will be invested in the sustainable expansion of production capacities at the company’s site in the Indian state of Madhya Pradesh. Joachim Schumacher, member of the DEG Management Board, commented: “The JK Organisation is a longstanding customer of DEG’s. We are now looking f...
DEG invests in JK Tyre; EUR 30 million loan for Expansion of production capacities in Madhya Pradesh
DEG invests in JK Tyre; EUR 30 million loan for Expansion of production capacities in Madhya Pradesh
Source: PR Agency
2024-12-13 10:56:03 am
Buy JK Tyre and Industries Ltd Ltd For Target Rs.650 By Emkay Global Financial Services JK Tyre (JKI) Q2 results were soft, impacted by ~16% sales decline in Mexico on weak Latin American demand and 10% currency depreciation vs INR. While domestic MHCVs have been weak in H1 (JK is among the segment leaders with 53% CV contribution in consolidated sales), outlook is improving amid expected pickup in infra/capex activity and a favorable base. Further, softening rubber prices (down over 20% from recent peak), pricing action (~3-3.5% YTD), and better mix should aid margin recovery Q...
Buy JK Tyre and Industries Ltd Ltd For Target Rs.650 By Emkay Global Financial Services
Buy JK Tyre and Industries Ltd Ltd For Target Rs.650 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-21 04:11:34 pm
JK Tyre Becomes First Indian Tyre Manufacturer with ISCC Plus Certification for its Chennai Plant Indian tyre industry major, JK Tyre & Industries has been recognized as the first tyre manufacturer in the country to receive the prestigious International Sustainability & carbon Certification (ISCC) Plus for its Chennai plant. This certification underscores the company’s commitment to integrating sustainability into the manufacturing processes and promoting an environmentally conscious future. Achieving ISCC Plus certification requires compliance with numerous cri...
JK Tyre Becomes First Indian Tyre Manufacturer with ISCC Plus Certification for its Chennai Plant
JK Tyre Becomes First Indian Tyre Manufacturer with ISCC Plus Certification for its Chennai Plant
Source: PR Agency
2024-06-17 12:46:23 pm
JK Tyre rating upgraded to `CARE AA- Stable` by CARE Ratings Rationale and key rating drivers Rationale and key rating drivers CARE Ratings Limited (CARE Ratings) has upgraded the long-term rating for bank facilities and instrument of JK Tyre and Industries Limited (JKTI) from CARE A+ to CARE AA- and reaffirmed the short-term ratings of CARE A1+. The outlook has also been revised from Positive to Stable. Revision in ratings considers the company’s improved operational and financial performance in FY24 (refers to April 1 to March 31) as charact...
JK Tyre rating upgraded to `CARE AA- Stable` by CARE Ratings
JK Tyre rating upgraded to `CARE AA- Stable` by CARE Ratings
Source: CareEdge Ratings
2024-06-14 04:57:34 pm
Buy JK Tyre Ltd For Target Rs.700 - Emkay Global We hosted the management of JK Tyre (JKI), represented by Anuj Kathuria, President (India) and Sanjeev Aggarwal, CFO, for a series of investor meetings. JKI is accelerating focus on high-growth, high-margin PCR via well-timed capex (operating at ~95% utilization now), largely in high-margin SUV tyres, even as overall capex remains calibrated, thus driving further deleveraging. Consumers in both, commercial & passenger tyres, are increasingly looking at features besides only price (like mi...
Buy JK Tyre Ltd For Target Rs.700 - Emkay Global
Buy JK Tyre Ltd For Target Rs.700 - Emkay Global
Source: Emkay Global
2024-05-24 12:24:22 pm
JK Tyre clocks 56 pc jump in Q4 net profit, declares dividend of Rs 3.50 per share JK Tyre & Industries Ltd on Tuesday reported a 56 per cent jump in its consolidated net profit at Rs 169.33 crore for the January-March quarter of 2023-24 compared to the corresponding figures of Rs 108.38 crore reported in the same period of the previous year. The firm’s revenue from operations increased by 1.8 per cent to Rs 3,698.45 crore from Rs 3,632.47 crore in the same quarter last year, according to a regulatory filing. The company also announced a final dividend of Rs...
JK Tyre clocks 56 pc jump in Q4 net profit, declares dividend of Rs 3.50 per share
JK Tyre clocks 56 pc jump in Q4 net profit, declares dividend of Rs 3.50 per share
Source: IANS
2024-05-22 09:47:07 am
JK Tyre records highest ever revenues and profits in FY24  Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its audited results for FY2024. The Board has recommended a dividend of Rs.4.50 per equity share (including interim dividend of Rs.1.00 per equity share already paid) i.e. 225% for the financial year ended 31st March, 2024. Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “JK Tyre achieved highest ever sales & profits during FY2024. Sales at Rs.15,046...
JK Tyre records highest ever revenues and profits in FY24
JK Tyre records highest ever revenues and profits in FY24
Source: PR Agency
2024-05-21 05:45:35 pm
Buy JK Tyres Ltd. For Target Rs.: 700 - Emkay Global JK Tyre (JKI) reported a steady Q3; consol. margins sustained QoQ at 14.9% (vs. decline of ~100bps for peers). Commentary around growth is encouraging (expects to sustain 6-7% volume growth as seen in Q3, helped by timely expansion in high-margin SUV tyres); also, medium-term margin outlook remains healthy with an upward bias amid improving mix. We believe that the stock remains under-appreciated (refer Structural transformation underway; further-re-rating on the cards) despite superior all-r...
Buy JK Tyres Ltd. For Target Rs.: 700 - Emkay Global
Buy JK Tyres Ltd. For Target Rs.: 700 - Emkay Global
Source: Emkay Global
2024-05-01 12:19:56 pm
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales Indian tyre maker MRF reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales. MRF, the country's top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around $61 mln) from 1.69 billion rupees. The results are largely in line with those of other tyre makers, who reported profits that grew between 70% and 400%. Analysts said MRF, unlike f...
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
Source: IANS
2024-02-09 01:33:07 pm
JK Tyre`s delivers 3x profit in Q3FY24 Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q3 of FY2024. In Q3FY24, the company recorded a net revenue of Rs.3,700 Crs. and achieved an EBIDTA of Rs.563 Crs. clocking a remarkable growth of 61% compared to the same period last year. Notably, the net debt at Rs.3,456 Crs. registered a 24% reduction from the levels recorded in March 2023. Based on the performance of the Company, the Board has decided and declared an interim d...
JK Tyre`s delivers 3x profit in Q3FY24
JK Tyre`s delivers 3x profit in Q3FY24
Source: PR Agency
2024-02-07 10:13:06 am
India`s JK Tyre Q3 profit rises on lower costs India's JK Tyre and Industries on Tuesday reported a more than three-fold rise in third-quarter profit, boosted by lower raw material costs. Consolidated net profit rose to 2.21 billion rupees ($26.6 million) for the quarter ended Dec. 31 from 655.9 million rupees a year earlier. This is the fifth straight rise in quarterly profit for the company, which counts Tata Motors and Maruti Suzuki India as its customers. Revenue from operations rose 2.1% to 36.88 billion rupees. For f...
India`s JK Tyre Q3 profit rises on lower costs
India`s JK Tyre Q3 profit rises on lower costs
Source: Reuters
2024-02-06 03:45:38 pm
JK Tyre successfully raised Rs.500 crore through QIP JK Tyre & Industries Limited, one of the leading tyre manufacturers in India has successfully concluded its fund-raising plans of Rs.500 crore by way of Qualified Institutional Placement (QIP). QIP was priced at Rs.345 per share (including a premium of Rs.343 per share with face value of Rs.2 per share) QIP received overwhelming response from marquee investors includingIndian mutual funds, insurance companies and foreign institutional investors. Dr. Raghupati Singhania, Chairman ...
JK Tyre successfully raised Rs.500 crore through QIP
JK Tyre successfully raised Rs.500 crore through QIP
Source: PR Agency
2024-01-01 01:50:07 pm
JK Tyre & Industries zooms on reporting over 5-fold jump in Q2 consolidated net profit JK Tyre & Industries is currently trading at Rs. 336.85, up by 28.75 points or 9.33% from its previous closing of Rs. 308.10 on the BSE. The scrip opened at Rs. 351.05 and has touched a high and low of Rs. 351.05 and Rs. 331.30 respectively. So far 937813 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 351.05 on 02-Nov-2023 and a 52 week low of Rs. 141.65 on 20-Mar-2023. Last one week high and low of the scr...
JK Tyre & Industries zooms on reporting over 5-fold jump in Q2 consolidated net profit
JK Tyre & Industries zooms on reporting over 5-fold jump in Q2 consolidated net profit
Source: Accord Fintech
2023-11-02 04:24:26 pm
JK Tyre`s net profit jumps multi-fold to Rs.249 crore Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q2 of FY2024. On consolidated basis, net revenues were up 4% at Rs.3,905 crore and EBIDTA increased to Rs.597 crore as against Rs.305 crore on y-o-y basis. Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “JK Tyre continues its robust performance in Q2FY24 driving revenues with   multifold increase in profitability.&n...
JK Tyre`s net profit jumps multi-fold to Rs.249 crore
JK Tyre`s net profit jumps multi-fold to Rs.249 crore
Source: PR Agency
2023-11-01 06:10:19 pm
Tyremaker Goodyear India posts 40% jump in Q2 profit on subdued input costs Tyre manufacturer Goodyear India reported a 40% rise in second-quarter profit on Friday as its raw material spends declined. Standalone profit for the Indian unit of U.S.-based Goodyear Tire and Rubber Co rose to 379.4 million rupees ($4.6 million) in the three months to Sept. 30 from 271 million rupees a year earlier. Rubber prices have contracted sequentially for the second quarter in a row as production and consumption in China, which consumes about 40% of global natural rubber, has ...
Tyremaker Goodyear India posts 40% jump in Q2 profit on subdued input costs
Tyremaker Goodyear India posts 40% jump in Q2 profit on subdued input costs
Source: Reuters
2023-10-27 04:32:15 pm
Buy JK Tyre and Industries Ltd For Target Rs.415 - Emkay Global Financial Services We initiate coverage on JK Tyre (JKI) with a BUY and 55% upside, at 10x FY25E PER; we believe JKI?s stock price can potentially double over 3 years. Amid tyre industry?s structural improvements (curtailed imports, enhanced export competitiveness, premiumization, calibrated capex), JKI has been outperforming peers over past 12 quarters (vs. over 20% underperformance in FY13-20) via structural transformation in: i) competitive position (higher-thanpeer spends on R&D, marketing; distrib...
Buy JK Tyre and Industries Ltd For Target Rs.415 - Emkay Global Financial Services
Buy JK Tyre and Industries Ltd For Target Rs.415 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-10-12 03:02:13 pm
JK Tyre rating upgraded `CARE A+` by CARE Ratings Rationale and key rating driversThe revision in the ratings for the bank facilities and instruments of JK Tyre and Industries Limited (JKTI) takes into account the improved operational and financial performances of the company in FY23 (refers to the period from April 1 to March 31) as characterised by increasing scale of operations, better working capital management and improved leverage and coverage indicators, which is expected to sustain going forward as well. During FY23, the consolida...
JK Tyre rating upgraded `CARE A+` by CARE Ratings
JK Tyre rating upgraded `CARE A+` by CARE Ratings
Source: PR Agency
2023-09-16 12:34:45pm