JK Tyre & Industries (530007) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated turnover reached a record ₹15,046 crore; EBITDA rose 59% YoY to ₹2,122 crore and PAT increased 207% to ₹811 crore.

• Growth reflected premiumisation, improved operating efficiency, strong plant utilisation and debt reduction; all plants ran at ~90% capacity utilisation.

Financial highlights

• Consolidated revenue from operations was ₹15,002 crore versus ₹14,645 crore in FY23; total income was ₹15,046 crore versus ₹14,681 crore.

• Consolidated operating profit before other income was ₹2,078 crore versus ₹1,297 crore; profit before tax was ₹1,211 crore versus ₹411 crore.

• Consolidated profit attributable to owners was ₹786 crore versus ₹262 crore; EPS was ₹29.84 versus ₹10.64.

• Consolidated operating cash flow was ₹1,614 crore versus ₹1,224 crore; net cash used in investing activities was ₹1,208 crore.

Outlook and guidance

• Tyre-industry demand is expected to record steady single-digit growth in FY25, supported by infrastructure investment and consumer confidence.

• Raw-material prices hardened toward FY24-end and are expected to remain firm in early FY25; cost actions, supply diversification and logistics realignment are underway.

• Priorities include premiumisation, higher-inch passenger tyres, fuel-efficient commercial tyres, channel expansion, exports, digitalisation and further deleveraging.