JK Tyre & Industries Ltd(JKTYRE)

NSE: JKTYREBSE: 530007

₹ 309.6-4.18%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 8,925 crWebsite: Website: www.jktyre.comUpdated: 24 Oct 2026

About

JK Tyre & Industries Ltd has made automobile tyres and tubes since 1975. It makes truck/bus radial, passenger car, farm, two-wheeler and off-the-road tyres at plants in India and through its subsidiary JK Tornel in Mexico. It reported revenue of Rs 16,326.65 Cr in FY26. Installed capacity was 38 Mn+ tyres a year as of Q2 FY27, and the company says it holds about 60% of the market for EV truck/bus tyres (FY25 annual report).^[1][2][3][4]

Business segments

India made up 87.2% of FY26 segment revenue (Rs 14,614.08 Cr), with an EBIT margin of 10.5%.^[5]
Mexico made up 12.8% of FY26 segment revenue (Rs 2,137.13 Cr), with an EBIT margin of 3.5%.^[5]
Over FY2018-FY2026, India's share of revenue fell 1.2 pp and Mexico's rose 1.2 pp.^[5]
In Q4 FY26, the replacement channel made up 63% of consolidated revenue.^[2]

Products and market position

In Q2 FY27 the company launched a passenger car tyre with an embedded sensor, which it calls a first for an Indian tyre company. It also launched the Shresth Plus farm tyre.^[4]
New products in FY25 included EV-specific tyres, smart tyres and green tyres made with recycled and bio-sourced materials.^[1]
As of FY25, the company had about 60% of the market for EV truck/bus tyres.^[1]
Premium passenger car tyres (16-inch and above) were 35% of passenger car tyre volumes in Q1 FY27, up from 31% in Q3 FY26 and 27% in Q3 FY25.^[6]
The company won OEM approvals for EV tyres on the Hyundai Creta EV and Tata Punch EV, and its Ranger HPe tyre was fitted to the new Renault Duster.^[7]

Plants and capacity

Installed capacity was 38 Mn+ tyres a year in Q2 FY27. Production capacity was 35 Mn in 2025, up from 0.50 Mn in 1977.^[4][1]
The company has plants in Rajasthan, Madhya Pradesh, Karnataka and Chennai, and bought a large tyre plant in Mexico in 2008.^[1]
Cavendish Industries, which owns the Uttarakhand plant bought from Kesoram, was merged into JK Tyre effective April 1, 2025. Its utilisation rose from ~30% to over 95% under JK Tyre ownership.^[1][7]
India capacity utilisation was ~95% in Q1 FY27 and above 90% through FY26. Consolidated utilisation was ~80% in Q1 FY27 because of disruption at JK Tornel.^[6][2]
The company runs an R&D centre, RPSCoE, in Mysuru.^[1]

Volumes and pricing

Domestic volumes rose 25% YoY in Q1 FY27, with OEM volumes up 42% YoY.^[6]
Truck/bus radial tyres were 56% of the product mix in Q1 FY27. In that quarter, truck/bus radial OEM volumes rose 18% YoY and replacement volumes rose 15% YoY.^[6]
Farm tyre volumes rose 31% YoY in Q1 FY27. Two/three-wheeler tyre volumes rose 17% YoY in OEM and 48% YoY in replacement.^[6]
Standalone net sales realisation rose ~4% YoY and ~5% QoQ in Q1 FY27, after price increases of ~5% in the quarter.^[6]
Average raw material costs rose ~20% QoQ in Q1 FY27 because of the West Asia crisis. Raw material is over 60% of the cost of a tyre (FY25).^[6][1]

Customers and distribution

The dealer and distributor network had 6,250+ outlets as of Q2 FY27.^[4]
There were over 750 brand shops in FY24, after more than 100 were added that year.^[8]
In FY24 the fleet business added over 200 large fleets, and 30 mobility hubs served 14,000 trucks.^[8]
US exports are ~3% of revenue (Q1 FY27), and shipments have been redirected to Mexico, Latin America, the Middle East and Southeast Asia.^[6]
The company is expanding its rural distribution network.^[6]

JK Tornel, Mexico

JK Tornel's revenue was Rs 2,138 Cr in FY26 vs Rs 2,147 Cr in FY25.^[2]
Tornel's revenue fell ~82% YoY in Q1 FY27 because of shortages of bead wire and natural rubber and a slowdown in worker productivity, which has since been resolved.^[6]
Tornel is developing a new passenger car tyre for Mexico and the US.^[2]

Expansion and capex

The board approved a Rs 4,980 Cr brownfield expansion of passenger car and truck/bus radial capacity at Chennai, built in phases until FY29. It raises those capacities by 24%, taking the total capex pipeline to Rs 6,110 Cr.^[2]
The programme is to be funded at a 2:1 debt-to-equity ratio, with about Rs 1,200 Cr spent a year; the FY27 outlay is about Rs 1,200 Cr.^[2]
Balancing work at Banmore on truck/bus radial and passenger car lines is expected to add ~7% to overall capacity by FY28.^[6]

Recent developments

On 23 Oct 2026 the board approved investing up to AED 4,00,000 (approx Rs 1.05 Crore) in a new wholly owned subsidiary in Dubai, UAE, proposed to be named JK GLOBAL TRADING FZ CO.^[9]
GST on tyres was cut from 28% to 18%, and on farm tyres from 18% to 5%. The company passed on 100% of the cut to customers.^[10]

Market Cap

₹8,925 Cr

High / Low

₹612 / 305

Stock P/E

13.5

Price / Book

1.5

Book Value

₹210

EPS

₹26.9

No. of Shares

28.83 Cr

ROCE

14.3%

ROE

14.2%

OPM

9.9%

Debt / Equity

0.78

Sales

₹16,327 Cr

Net Profit

₹776 Cr

Promoter holding

51.7%

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JK Tyre & Industries Ltd(JKTYRE)

About

Business segments

Products and market position

Plants and capacity

Volumes and pricing

Customers and distribution

JK Tornel, Mexico

Expansion and capex

Recent developments

Signal history

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