JK Tyre - Walking The Talk, Ticking All The Right Boxes: ICICI Direct
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ICICI Direct Report
JK Tyre and Industries Ltd. reported a robust Q3 FY21 performance with highest ever quarterly sales and profit after tax.
Net sales for the quarter were at Rs 2,769 crore, up 25.4% YoY. Ebitda in Q3 FY21 was at Rs 500 crore with corresponding Ebitda margins at 18.1%, up 250 basis points QoQ.
Profit after tax in Q3 FY21 came in at Rs 224 crore versus Rs 11 crore in Q3 FY20 (impacted by low margins in base quarter) and Rs 105 crore in Q2 FY21.
Sequential improvement in gross margins (approximately 140 basis points) was a key highlight for the quarter.
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