In its audited results for FY2024, JK Tyre & Industries Ltd. said that the Board has recommended a dividend of ₹4.50 per equity share. The company’s highest-ever revenues and earnings during the fiscal year—with sales hitting ₹15,046 crore—were emphasised by Dr. Raghupati Singhania, CMD. PAT doubled to ₹811 crore, while EBIDTA increased by 59% to ₹2,122 crore.
The emphasis on product premiumization, market expansion, and tech-enabled manufacturing is credited with the performance. The company’s financial stability was reinforced by its strategic initiatives, such as the infusion of stock. In spite of obstacles such as.
Geopolitical unrest and freight increases that affect exports, JK Tyre hopes to increase export volumes in the upcoming quarters. Subsidiaries JK Tornel, Mexico, and Cavendish Industries Ltd. (CIL) made substantial contributions to overall profits and revenues. Using QIP, JK Tyre was able to raise 500 crore during Balance sheet deleverage to occur in FY24.
JK Tyre & Industries Ltd has reported a strong financial performance for FY24, driven by robust demand, cost optimization, and strategic expansion. The company has declared a 225% dividend, reflecting its confidence in growth and commitment to shareholder value.
Financial Highlights
- Revenue Growth: The company achieved higher sales volumes across all segments, resulting in strong year-on-year revenue growth.
- Profitability Surge: Improved operational efficiency, lower raw material costs, and strategic pricing led to increased margins.
- EBITDA & Net Profit: JK Tyre recorded healthy EBITDA growth and a significant rise in net profit, reinforcing its financial stability.
Key Business Drivers
- Strong Demand Across Segments
- Increased sales in passenger cars, commercial vehicles, and two-wheeler tires.
- Growth in both the OEM (Original Equipment Manufacturer) and replacement markets contributed to revenue expansion.
- Technology & Innovation
- Continued investment in advanced tire technology, including fuel-efficient and high-performance tires.
- Focused on R&D for sustainability, introducing eco-friendly manufacturing processes.
- Capacity Expansion & Market Presence
- Expansion of manufacturing capacity and automation to meet rising demand.
- Strengthening presence in domestic and export markets, particularly in Latin America, the U.S., and Europe.
Dividend Declaration & Shareholder Benefits
- The 225% dividend underscores the company’s strong cash flow and profitability.
- It reflects JK Tyre’s commitment to rewarding investors while ensuring sustained growth.
Future Outlook
- Plans to expand global reach and premium product portfolio.
- Continued focus on sustainable practices, cost efficiency, and digital transformation.
With solid FY24 results, JK Tyre is positioned for long-term growth, strengthening its leadership in the tire industry.
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