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Swing Capital

JK Tyre & Industries Ltd

NSE: JKTYRE BSE: 530007

JK Tyre & Industries is the flagship company of the JK group which is headed by Dr R P Singhania as its chairman and managing director. It is a one of the leading tyre manufacturers in India and amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments that includes Truck/Bus, LCV (Light commercial vehicles), Passenger Cars, MUV (Multi utility vehicles) and Tractors. [1]

₹360
52W: ₹311 — ₹612
PE 14.8 · Book ₹154 · +134% vs book
Market Cap₹10,376 Cr
Stock P/E14.8Price to Earnings
ROCE12.1%Return on Capital
ROE9.71%Return on Equity
Div. Yield0.81%Face Value ₹2

Strengths

  • +Company has been maintaining a healthy dividend payout of 22.7%

Weaknesses

  • −The company has delivered a poor sales growth of 10.8% over past five years.
  • −Company has a low return on equity of 11.9% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -4.54%

Shareholding Pattern

Promoters51.72%
FIIs18.59%
DIIs7.45%
Public22.23%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters53.13%50.56%▼2.650.56%50.55%▼0.050.55%50.55%51.72%▲1.251.72%
FIIs14.15%16.45%▲2.316.03%▼0.415.94%▼0.116.11%▲0.216.09%▼0.016.92%▲0.818.59%▲1.7
DIIs4.99%5.85%▲0.96.33%▲0.56.14%▼0.26.41%▲0.37.2%▲0.87.5%▲0.37.45%▼0.0
Public27.73%27.16%▼0.627.05%▼0.127.35%▲0.326.91%▼0.426.14%▼0.823.85%▼2.322.23%▼1.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales2,6782,5642,6162,4922,5153,2642,6742,8773,5163,741
Expenses2,2882,2012,2832,1872,2612,9902,4102,5353,0383,216
Operating Profit389363333306253274263342478525
OPM %15%14%13%12%10%8%10%12%14%14%
Net Profit180164146143995597170212178
EPS ₹7.316.35.615.493.622.013.526.217.736.18

AI Insights

Revenue Trend

TTM revenue at ₹12,808Cr, up 25.9% YoY. OPM at 13%.

Debt Position

Borrowings at ₹2,627Cr. Debt-to-equity ratio: 0.60x. Moderate leverage.

Capex Cycle

CWIP at ₹517Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 7.45% (+6.23pp change). FIIs: 18.59% (+9.90pp change). Promoters hold 51.72%.

Margin & Efficiency

ROCE declining from 16% (Mar 2014) to 12% (Mar 2025). Working capital days: 33.

Valuation

PE 14.8x with 12.1% ROCE. Price is 134% above book value of ₹154. Dividend yield: 0.81%.

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