Overview

Detailed Summary

JK Tyre & Industries Ltd. is a leading Indian tyre manufacturer producing tyres across truck/bus, passenger radial, 2/3-wheeler, farm, OTR and speciality segments with manufacturing plants in India and Mexico, a global distribution footprint in over 100 countries, and a combined installed capacity above 35 million tyres per annum.
Q3FY26 delivered record consolidated revenue of INR 4,235 crore and EBITDA of INR 583 crore, reflecting a 15% YoY revenue increase and a 470 basis point EBITDA margin expansion driven primarily by strong volume growth, product premiumization and operating leverage rather than broad-based price increases.
Management has announced targeted capacity expansions: INR 1,130 crore near-term capex to add TBR, ASLTR and PCR capacity (ramp-ups in FY26–FY27) forming part of a larger INR 50 billion five-year capex plan, indicating a commitment to materially scale production to meet robust domestic and export demand.
Product and technology differentiation is pronounced: JK Tyre launched EV-specific tyres for commercial and passenger segments, introduced embedded smart tyres with sensors, and maintains a 200+ person R&D centre with anechoic testing and seven patents, signalling a move toward connected and premium tyre offerings.
ESG and balance sheet signals are positive: over 50% energy from renewables, EcoVadis silver and Top CareEdge ESG rating with an overall score of 81.2, stable mid-double-digit ROCE/ROE, and net debt metrics of INR 4,183 crore (net debt/EBITDA ~2.17x) suggest disciplined financial management alongside sustainability investments.

Sector: Tyres
Industry: Tyres - Large
Market Cap: 12,676 Cr
Volatility: High Risk
P/E Ratio: 18.2
Industry P/E: 24.3
PEG Ratio: 0.9
P/B Ratio: 2.4
52W High: 611.60
52W Low: 231.65

Sales CAGR

1Y: -2.06%
3Y: 8.21%
5Y: 10.80%
10Y: 5.09%

Profit CAGR

1Y: -36.44%
3Y: 28.15%
5Y: 11.00%
10Y: -1.07%

ROE

TTM: 10.34%
3Y: 11.80%
5Y: 11.02%
10Y: 11.17%

ROCE

TTM: 10.92%
3Y: 15.27%
5Y: 14.40%
10Y: 13.59%

Technicals

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
APOLLOTYRE	431.15	27,386 Cr	29.51	1.76	1.16	8.46	10.87	3.19
CEATLTD	3284.45	13,286 Cr	23.98	2.91	0.91	10.83	12.68	4.09
JKTYRE	437.10	12,676 Cr	18.16	2.42	0.65	10.34	10.92	4.56
TVSSRICHAK	3730.00	2,870 Cr	63.85	2.49	0.45	2.39	4.98	1.53
GOODYEAR	777.25	1,811 Cr	31.62	3.17	3.05	7.23	10.26	4.89
PTL	38.00	502 Cr	5.52	0.84	4.61	4.60	6.51	3.72
MODIRUBBER	108.40	271 Cr	17.37	0.49	0.00	2.43	2.28	2.03

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	3,898	3,688	3,698	3,639	3,622	3,674	3,759	3,869	4,011	4,223
Expenses	3,308	3,138	3,217	3,139	3,200	3,359	3,396	3,467	3,490	3,652
Operating Profit	589	550	481	500	421	314	363	402	521	571
OPM %	15.12	14.92	13.01	13.74	11.63	8.55	9.66	10.39	13.00	13.52
Other Income	4.94	8.21	-8.83	15	11	3.11	19	34	6.82	-92
Interest	109	107	109	112	120	123	121	115	108	106
Depreciation	108	111	112	113	113	114	117	114	116	119
Profit Before Tax	377	341	252	290	199	80	144	208	304	254
Tax %	33.59	33.36	30.52	27.06	27.44	28.64	28.84	25.59	26.81	17.72
Net Profit	250	227	175	212	144	57	102	155	223	209
EPS in Rs	7.93	7.63	5.57	6.95	4.68	1.79	3.36	5.73	7.68	7.29

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	8,318	8,397	10,370	8,723	9,102	11,983	14,645	15,002	14,693	14,923
Expenses	6,557	7,535	9,256	7,737	7,796	10,910	13,347	12,924	13,094	13,422
Operating Profit	1,761	862	1,114	985	1,306	1,073	1,298	2,078	1,599	1,501
OPM %	21.17	10.27	10.74	11.30	14.35	8.96	8.86	13.85	10.88	10.06
Other Income	135	135	-6.88	-75	81	40	-25	17	48	67
Interest	440	466	521	549	466	419	455	447	476	479
Depreciation	291	299	316	378	387	385	407	437	456	458
Profit Before Tax	535	107	270	-17	534	309	411	1,211	713	631
Tax %	29.04	41.09	34.82	988.55	37.60	35.18	35.63	32.99	27.70	27.30
Net Profit	380	63	176	149	333	200	265	811	516	459
EPS in Rs	13.02	2.29	6.22	5.23	11.07	7.28	9.07	26.19	16.78	24.07
Dividend Payout %	15.11	51.55	19.31	11.44	15.42	17.58	18.80	15.13	16.62	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	45	45	45	49	49	49	49	49	52	55
Reserves	1,706	1,919	1,916	2,235	2,282	2,623	2,799	3,347	4,435	4,796
Borrowings	2,660	5,376	4,989	5,221	5,124	4,801	5,220	4,882	4,609	4,911
Other Liabilities	2,667	3,094	3,618	3,811	3,835	3,513	4,179	4,170	4,998	4,757
Total Liabilities	7,078	10,435	10,567	11,316	11,290	10,987	12,248	12,449	14,094	14,519
Fixed Assets	3,747	5,788	6,136	6,222	6,376	6,237	6,423	6,462	6,823	6,746
CWIP	106	326	309	270	284	299	106	195	367	418
Investments	160	79	134	137	146	153	138	149	144	128
Other Assets	3,065	4,242	3,988	4,688	4,484	4,298	5,580	5,643	6,760	7,226
Total Assets	7,078	10,435	10,567	11,316	11,290	10,987	12,248	12,449	14,094	14,519

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	903	106	637	797	1,237	1,598	346	1,224	1,614	716
Cash from Investing Activity	-506	-800	-394	-261	-318	-138	-245	-400	-1,208	-454
Cash from Financing Activity	-422	830	-409	-522	-963	-1,441	-96	-747	-413	-237
Net Cash Flow	-25	136	-166	14	-43	20	4.58	76	-7.19	25

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	56.26%	56.26%	56.26%	53.13%	53.13%	53.13%	50.55%	50.55%	50.55%	50.55%	50.55%	51.72%
FIIs	6.73%	8.69%	10.29%	12.21%	15.29%	14.15%	11.59%	11.18%	11.09%	16.11%	16.10%	16.80%
DIIs	1.36%	1.37%	1.58%	5.89%	5.32%	5.05%	10.70%	11.20%	11.00%	6.42%	7.19%	7.38%
Public	35.65%	33.67%	31.87%	28.77%	26.26%	27.66%	27.15%	27.07%	27.36%	26.92%	26.15%	24.10%
Total Shareholders	1,91,654	1,87,356	1,88,399	2,03,029	2,26,143	2,86,125	3,36,329	3,51,180	3,58,475	3,42,938	3,32,044	2,91,511

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Documents

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Reports

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Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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