The company's Chairman and Managing Director, Raghupati Singhania, stated, "We continue to deliver profitable growth with year-on-year increase in operating margins. Our strategic thrust on premiumization and pricing have helped us to manage the raw material cost pressures. Although overall revenues were marginally lower due to decline in the OEM segment, this was largely offset by increased exports."
During the quarter, exports saw healthy double-digit growth despite geopolitical disruptions and rising ocean freight costs. The company expects export demand to pick up in the near future.
"JK Tyre’s subsidiaries, Cavendish Industries Ltd. (CIL) and JK Tornel, Mexico, continued to make significant contributions to the overall revenues and profitability of the company," Singhania added.
The outlook for tyre demand remains positive, driven by policy reforms, ongoing infrastructure development, the upcoming festive season, and favorable monsoon conditions.
"We remain optimistic about the outlook for tyre demand, driven by ongoing policy reforms including continued focus on infrastructure development. Moreover, upcoming festive season and favorable monsoon condition augur well for the industry," Singhania expressed optimism.
JK Tyre is committed to continuing its focus on digitalization, R&D, innovation, sustainability, customer-centricity, and technology-driven manufacturing.
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