JK Tyre share price: Walking the talk, ticking all the right boxes II ICICI Securities raises target price to Rs 180
JK Tyre reported a robust Q3 FY21 performance with highest ever quarterly sales and PAT. JK Tyre net sales for the quarter were at Rs 2769 cr, up 25.4% YoY. EBITDA in Q3 FY21 was at Rs 500 cr with corresponding EBITDA margins at 18.1%, up 250 bps QoQ. PAT in Q3 FY21 came in at Rs 224 cr vs. Rs 11 cr in Q3 FY20 (impacted by low margins in base quarter) and Rs 105 cr in Q2 FY21.
JK Tyre channel mix changed to 45% replacement, 40% OEMs and 15% exports and STUs as domestic OEM channels posted substantial volume increase YoY in the quarter: Reuters