JK Tyre & Industries LimitedQ2FY27 Results & Financial Update
JK Tyre & Industries Limited: Q2FY27 consolidated results and company financials – revenue ₹4,840.73 Cr, PAT ₹65.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore JK Tyre & Industries Q2FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
JK Tyre & Industries Limited reported a consolidated revenue from operations of Rs. 4,840.73 crore for the second quarter ended September 30, 2026, marking an expansion compared to Rs. 3,946.24 crore recorded in the preceding first quarter of fiscal 2027. Total income for the quarter reached Rs. 4,849.96 crore.
Operating profitability, measured as operating profit (PBIDT), advanced to Rs. 343.14 crore for the second quarter from Rs. 267.64 crore in the preceding quarter. This performance yielded an EBITDA margin of approximately 7.09 percent, reflecting sequential recovery despite ongoing headwinds from input costs and logistics pressures.
Management noted in the earnings release that the domestic business benefited from robust growth momentum, supported by strong demand across markets and product segments. The company's Mexican subsidiary, JK Tornel, also staged a business rebound during the quarter, contributing Rs. 479 crore in revenue and reinforcing its role in the international portfolio.
The company recorded net exceptional items of negative Rs. 12.31 crore during the quarter, which included foreign exchange losses of Rs. 6.15 crore and voluntary retirement scheme (VRS) expenses of Rs. 6.16 crore at the standalone level (with consolidated foreign exchange loss reported at Rs. 10.00 crore).
Tax expenses for the quarter aggregated to Rs. 33.58 crore, comprising Rs. 9.81 crore in current tax and Rs. 23.77 crore in deferred tax. Total comprehensive income for the quarter was Rs. 45.99 crore after accounting for negative other comprehensive income items such as exchange translation differences on foreign operations.
01 · Business model
What does JK Tyre & Industries do?
JK Tyre & Industries Limited is a flagship company of the JK Organisation and ranks among the top twenty tyre manufacturers globally. As a pioneer of radial tyre technology in India, the company manufactured its first radial tyre in 1977 and holds a market-leading position in the Truck Bus Radial (TBR) segment.
The company provides comprehensive tyre solutions catering to passenger cars, commercial vehicles, farm equipment, off-the-road applications, and two-and-three wheeler segments. Its manufacturing footprint comprises eleven globally benchmarked sustainable facilities—nine located in India and two in Mexico—with a combined production capacity exceeding 38 million tyres annually.
JK Tyre reaches customers through a robust distribution network comprising over 6,250 dealers and upwards of 900 dedicated brand retail shops operating under formats such as Steel Wheels, Truck Wheels, and Xpress Wheels. Additionally, the company exports its products to more than 100 countries supported by over 230 global distributors.
Innovation and technological advancement are anchored by the company's Global Tech & Innovation Centre, the Raghupati Singhania Centre of Excellence in Mysore, which is equipped with sophisticated testing and validation machinery. The company has also been recognized for sustainability milestones, including top-tier ESG ratings and commitments to renewable energy adoption.
02 · Historical context
What shaped the business before this quarter
As a pioneer of radial technology in India, the company produced its first radial tyre in 1977 and subsequently established market leadership in the Truck Bus Radial segment.
The company completed the Scheme of Amalgamation of its subsidiary Cavendish Industries Limited (CIL) with the company, with an appointed date of April 1, 2025, which was approved by the National Company Law Tribunal in November 2025 and effective from December 22, 2025, leading to restatement of prior period comparatives.
The company previously crossed a major manufacturing milestone by rolling out its 30 millionth truck-bus radial tyre, positioning itself uniquely among domestic manufacturers.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹4,840.73 Cr | ₹3,946.24 Cr |
| Total income | ₹4,849.96 Cr | ₹3,955.66 Cr |
| EBITDA | ₹343.14 Cr | — |
| Profit before tax | ₹93.57 Cr | ₹53.76 Cr |
| Profit after tax | ₹65.07 Cr | ₹44.09 Cr |
| EPS | ₹2.29 | ₹1.55 |
| EBITDA margin | 7.09% | — |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations rose to Rs. 4,840.73 crore in Q2FY27 from Rs. 3,946.24 crore in Q1FY27, driven by higher volume off-take and broad-based demand across markets.
Management highlighted that the domestic business picked up significant growth momentum, supported by a 65 percent increase in the original equipment (OE) market and a 32 percent growth in domestic sales year-on-year.
Mexican subsidiary JK Tornel rebounded during the quarter, registering revenues of Rs. 479 crore and supporting the overall consolidated top-line expansion.
What drove margins
Operating margins were constrained by persistently higher raw material consumption costs, with the cost of materials consumed reaching Rs. 3,392.71 crore for the quarter.
Profitability faced headwinds from elevated supply chain constraints and container freight rates that remained significantly above historical levels, alongside geopolitical tensions in West Asia.
Consolidated EBITDA reached Rs. 343.14 crore, representing an EBITDA margin of 7.09 percent, benefiting from sequential operating leverage despite input cost pressures.
05 · Demand, customers & order book
Where demand is coming from
Distribution and customer service are underpinned by a network of over 6,250 dealers and more than 900 dedicated brand shops including Steel Wheels, Truck Wheels, and Xpress Wheels, along with pan-India fleet service networks.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The India segment generated external revenue of Rs. 4,453.19 crore out of total segment revenue of Rs. 4,932.11 crore (before inter-segment eliminations of Rs. 91.38 crore), and reported segment results (profit before finance costs, exceptional items, and tax) of Rs. 208.08 crore.
The Mexico segment (JK Tornel) contributed external revenue of Rs. 478.31 crore and reported a segment result of Rs. 7.06 crore for the quarter, recovering from a segment loss of Rs. 45.83 crore in the preceding quarter.
The 'Others' operating segment contributed nominal external revenue of Rs. 0.61 crore with a minor segment result loss of Rs. 0.11 crore.
Geography and market mix
The company operates eleven manufacturing facilities—nine in India and two in Mexico—with aggregate annual production capacity exceeding 38 million tyres, supported by exports to over 100 countries.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The group maintains an aggregate manufacturing capacity of over 38 million tyres annually across its eleven plants situated in India and Mexico.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company continues to leverage its R&D capabilities at the Raghupati Singhania Centre of Excellence and promotes advanced offerings such as Smart Tyre technology and TPMS.
09 · Reported developments
What changed operationally
The company delivered its highest-ever consolidated quarterly revenue of Rs. 4,840.73 crore in Q2FY27.
JK Tyre secured the top-notch 'ESG 1+' rating from CareEdge for the third consecutive year, achieving an ESG score of 81.2.
10 · Pressure points & risks
What is not going smoothly
Operating margins continue to be impacted by elevated raw material consumption costs and container freight rates remaining well above historical averages amidst West Asian geopolitical tensions.
11 · Items worth noticing
The line items that can distort a quick read
Consolidated exceptional items for the quarter totaled negative Rs. 12.31 crore, primarily comprising foreign exchange losses of Rs. 10.00 crore and voluntary retirement scheme (VRS) expenses of Rs. 6.16 crore.
12 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the half year ended September 30, 2026, the consolidated cash flow statement showed net cash used in operating activities of Rs. 145.55 crore, net cash used in investing activities of Rs. 828.95 crore (including property, plant, and equipment purchases of Rs. 813.00 crore), and net cash from financing activities of Rs. 892.95 crore.
Capital allocation & funding
As of September 30, 2026, consolidated non-current borrowings stood at Rs. 2,661.51 crore, while current borrowings were reported at Rs. 3,325.28 crore.
13 · Management guidance & targets
What management is targeting from here
Management expressed optimism regarding future demand, supported by healthy customer traction across segments, and reiterated its focus on delivering sustainable and profitable growth through advanced manufacturing facilities and strong customer partnerships.
14 · Beyond the numbers
What changed beyond the numbers
Reported update
Workplace Accolades
JK Tyre was ranked as one of the best workplaces in the auto and auto components industry for the sixth time and received the Economic Times Iconic Brand of the Year Award.
Reported update
Sustainability and RE100
The company is the first Indian tyre company to join the global RE100 Club, targeting 100 percent renewable electricity by 2050.
15 · Previous-quarter changes
What changed since the previous quarter
Consolidated PAT expanded to Rs. 65.07 crore in Q2FY27 from Rs. 44.09 crore in Q1FY27, alongside an increase in operating profit (PBIDT) to Rs. 343.14 crore from Rs. 267.64 crore.
16 · Key Q&A
The quarter, answered directly
What does JK Tyre & Industries do?
JK Tyre & Industries Limited is a flagship company of the JK Organisation and ranks among the top twenty tyre manufacturers globally. As a pioneer of radial tyre technology in India, the company manufactured its first radial tyre in 1977 and holds a market-leading position in the Truck Bus Radial (TBR) segment.
What is the clearest takeaway from Q2FY27?
JK Tyre & Industries Limited reported a consolidated revenue from operations of Rs. 4,840.73 crore for the second quarter ended September 30, 2026, marking an expansion compared to Rs. 3,946.24 crore recorded in the preceding first quarter of fiscal 2027. Total income for the quarter reached Rs. 4,849.96 crore.
What drove revenue or demand?
Consolidated revenue from operations rose to Rs. 4,840.73 crore in Q2FY27 from Rs. 3,946.24 crore in Q1FY27, driven by higher volume off-take and broad-based demand across markets.
What mattered most for margins or profitability?
Operating margins were constrained by persistently higher raw material consumption costs, with the cost of materials consumed reaching Rs. 3,392.71 crore for the quarter.
What changed operationally beyond the headline numbers?
The group maintains an aggregate manufacturing capacity of over 38 million tyres annually across its eleven plants situated in India and Mexico.
What is management guiding or targeting from here?
Management expressed optimism regarding future demand, supported by healthy customer traction across segments, and reiterated its focus on delivering sustainable and profitable growth through advanced manufacturing facilities and strong customer partnerships.
17 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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18 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Raw Material and Freight Trends: Monitor future commodity price movements for rubber and other key inputs alongside ocean freight rate trajectories.
- 02
Subsidiary Performance: Track the operational consistency and profitability contribution of Mexican subsidiary JK Tornel.
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