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JK Tyre Reports Strong FY24 Performance, Declares 225% Dividend

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JK Tyre Reports Strong FY24 Performance, Declares 225% Dividend

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.

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