JK TYRE & INDUSTRIES LTD

Manufactures tyres for trucks, buses, passenger cars, two-wheelers, farm and off-the-road applications, selling primarily through the Indian replacement and OEM markets and via its Mexico subsidiary JK Tornel. India accounted for Rs 14,614.08 crore of FY26 segment revenue (87.2% share) with EBIT of Rs 1,541.56 crore, while Mexico contributed Rs 2,137.13 crore (12.8% share) with EBIT of Rs 75.61 crore. Operations span 9 plants in India and 2 in Mexico with a workforce of 17,917, and the Board has approved a phased expansion adding 210 lakh tyres per annum across truck-bus radials (TBR) and passenger car radials (PCR) by FY30. The Cavendish Industries merger lifted capacity utilisation at the acquired unit from 30% to 95%, and a separate Rs 1,130 crore capex adds ~7% capacity in TBR, off-road and PCR categories. Raw materials (natural and synthetic rubber, carbon black and other inputs) made up 59.5% of revenue in FY26, with employees at 9.8% and other operating expenses at 15.9%. OEM wins referenced include Hyundai Creta and Tata Punch for EV tyres, and the Mexico business is awaiting the USMCA review in July 2026.