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. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. India (87%), Mexico (13%), Others (0%). Asset-heavy tyre manufacturer with commodity input exposure
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11,983 | 14,645 | 15,002 | 14,693 | 16,327 |
| EBITDA (ex other income) | 1,077 | 1,236 | 2,050 | 1,567 | 1,886 |
| margin % | 9.0 | 8.4 | 13.7 | 10.7 | 11.6 |
| Owners' profit | 210 | 262 | 786 | 495 | 776 |
| EPS, as reported (₹) | 8.53 | 10.64 | 29.84 | 18.07 | 27.24 |
| ROE % · ROCE % | 6.8 · 10.9 | 7.5 · 12.0 | 17.5 · 19.7 | 10.2 · 13.6 | 12.8 · 13.9 |
| Debt / equity (x) | 1.74 | 1.37 | 0.97 | 0.96 | 0.78 |
| Cash from operations | 346 | 1,224 | 1,614 | 716 | 1,444 |
| Capex | (314) | (463) | (774) | (639) | (1,424) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,622 | 3,674 | 3,759 | 3,869 | 4,011 | 4,223 | 4,223 | 3,946 |
| Profit before tax | 199 | 80 | 144 | 208 | 304 | 254 | 277 | 54 |
| Net profit | 140 | 53 | 99 | 163 | 227 | 208 | 178 | 44 |
| EPS (₹) | 4.93 | 1.88 | 3.54 | 6.03 | 8.08 | 7.29 | 6.25 | 1.55 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 14,614 | 87.2 |
| Mexico | 2,137 | 12.8 |
| Others | 2 | 0.0 |
| Total, before eliminations | 16,754 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MRF LTD | 54,594 | 22.6 | 2.60 | 10.6 | 11.6 | 14.0 | 14.0 | 14.1 |
| BALKRISHNA IND. LTD |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Special window for transfer and dematerialisation of physical shares | compliance | minimal | — | — |
| 27 Aug 2026 · CARE Reaffirms AA-/Stable Rating on JK Tyre Bank Facilities | credit debt | medium | — | — |
| 14 Aug 2026 · JK Tyre Q1FY27 - Revenue up 2%, margins under pressure at 6.8% | investor communications | medium | — | — |
| 10 Aug 2026 · Link to Q1 FY27 Results Call Audio Recording Shared | investor communications | low | — | — |
| 10 Aug 2026 · JK Tyre CMD Statement at 73rd AGM - FY26 Results and 4980 Crore Expansion Plan | compliance | minimal | — | — |
| 7 Aug 2026 · JK Tyre 73rd AGM: All 6 resolutions passed, Rs. 4 dividend approved | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · JK Tyre Q1FY27 Investor Presentation - Sharp Profit Decline | investor communications | medium | — | — |
| 7 Aug 2026 · JK Tyre Q1 FY27 results: Revenue falls, margins compress sharply | results | high | — | — |
| 7 Aug 2026 · JK Tyre to invest Rs 1.38 Cr in solar power firm for captive power | strategic transactions | low | — | — |
| 7 Aug 2026 · JK Tyre Q1 FY27 results: Revenue down 6.6%, PAT plunges 76% YoY | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 41,830 |
| 29.8 |
| 3.82 |
| 18.0 |
| 11.3 |
| 13.0 |
| 13.4 |
| 24.4 |
| APOLLO TYRES LTD | 26,554 | 15.5 | 1.59 | 8.7 | 8.2 | 6.2 | 10.4 | 12.8 |
| CEAT LIMITED | 13,140 | 22.5 | 2.60 | 8.0 | 13.8 | 12.8 | 15.6 | 8.4 |
| JK TYRE & INDUSTRIES LTD ◆ | 10,235 | 15.3 | 1.69 | 7.6 | 12.8 | 9.9 | 12.4 | 7.1 |
| TVS SRICHAKRA LIMITED | 3,982 | 43.1 | 3.35 | 16.0 | 6.0 | 6.3 | 13.4 | 8.8 |
| GOODYEAR INDIA LIMITED | 1,661 | 27.0 | 2.74 | — | 10.1 | 12.2 | — | 4.3 |
| MEGAMONT LIMITED | 537 | 58.5 | 15.90 | 56.6 | 18.4 | 21.3 | — | 2.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.3 | 22.6 | 4 of 15 | 79% |
| P/B | 1.7 | 2.6 | 7 of 16 | 60% |
| ROCE | 9.9 | 9.9 | 9 of 17 | 50% |
| ROE | 12.8 | 9.9 | 5 of 17 | 75% |
| Debt / Equity | 0.8 | 0.4 | 13 of 17 | 25% |
| EBITDA margin | 7.1 | 7.6 | 9 of 16 | 47% |
| Revenue growth | 2.0 | 10.1 | 12 of 15 | 21% |
| Profit growth | (73.0) | (5.8) | 13 of 16 | 20% |
| Market cap | 10235 | 352 | 5 of 17 | 75% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
