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By Sharad Matade| Jan 21, 2021

JK Tyre Registers Best Quarterly Sales Ever In Q3 2021

JK Tyre recorded its best sales for any quarter with a 26% increase to INR 2776 crore on the increased demand for passenger, commercial vehicle and farm tyres.

EBITDA doubles to INR 507 Crores and PBT recorded a multifold increase to INR 343 Crores, compared with the corresponding quarter.

On a standalone basis, sales aggregated Rs.1851 Crores with EBITDA of Rs.312 Crores and PBT of INR196 crores.

Commenting on the results, Dr Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre turned out an excellent performance in Q3 - in terms of Sales and Profitability. This was largely driven by the increased demand for Passenger, Commercial vehicle as well as Farm tyres. Continued focus on improvement in operating efficiencies and reduction in interest costs, contributed to improved profitability.”  

Dr Singhania added “All nine, JK Tyre plants in India, operating at close to 96% capacity utilization during Q3.  It is a matter of satisfaction that some of the plants have achieved certain global benchmark operating parameters.”

The company said its subsidiary Cavendish Industries also recorded excellent results in the Q3 of 2020-21 with INR 788 crore sales and an all-time high PBT of Rs.92 Crores during the quarter under review. Capacity utilization at its three plants was nearly 95%. 

Besides, the Company’s subsidiary in Mexico, JK Tornel, continued to perform well, marked by significant sales and profitability improvement.

The Company foresees a sustained sales and profitability during the coming period.

 

 

 

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