JK Tyre & Industries (530007) Q2 26/27 earnings summary

Executive summary

• Record Q2 FY27 consolidated revenue from operations of ₹4,840.73 crore, up 20% YoY, with broad-based gains and domestic sales growth of 32% YoY.

• EBITDA rose 28% QoQ but fell 36% YoY; PAT improved QoQ while declining 73% YoY, as higher input costs pressured margins.

Financial highlights

• Q2 consolidated EBITDA was ₹343.14 crore, PBT ₹93.57 crore and profit for the period ₹65.07 crore; YoY changes were -36%, -69% and -71%, respectively.

• Consolidated PAT was ₹60 crore, down 73% YoY but up 40% QoQ; EBITDA rose 28% QoQ to ₹343 crore from ₹268 crore.

• H1 FY27 consolidated revenue from operations was ₹8,786.97 crore, PBT ₹147.33 crore and profit for the period ₹109.16 crore.

• Standalone Q2 revenue was ₹4,460.85 crore, PBT ₹82.08 crore and PAT ₹60.68 crore; standalone H1 PAT was ₹133.22 crore.

Outlook and guidance

• Management expected healthy demand through Q3 and Q4, with some Q3 margin improvement despite cost pass-through lags.

• Raw-material costs were expected to rise 4%-5% in Q3; net selling realization planned to increase 4%-5%, following a 7% QoQ rise in Q2.

• Remaining FY27 CapEx estimated at ₹500 crore; TBR and PCR expansion projects total ₹1,130 crore, with a 1:1 to 1.1:1 turnover addition multiple cited.

• Mexico-to-U.S. export volumes grew triple-digit QoQ; sales expected to return to levels comparable with last year in Q3 and Q4.