JK Tyre & Industries Ltd posts record quarterly performance in the September quarter of FY26, marking a clear phase of operational strength at a time when the auto components sector continues to face uneven demand conditions. The company delivered its highest-ever consolidated quarterly revenue, reflecting a steady recovery driven by volumes, cost discipline, and improved efficiency across segments.
To begin with, the tyre maker reported consolidated revenue of ₹4,026 crore in Q2FY26, registering a 10% year-on-year rise. At the same time, EBITDA increased 21% to ₹536 crore, while margins expanded to 13.3% from 10.9% in the previous quarter. Management linked this improvement to higher sales volumes, softer raw material prices, and tighter operational controls. As a result, profitability strengthened meaningfully despite lingering macro uncertainty.
Meanwhile, domestic operations played a key role in the quarter’s performance. The company said volumes in India rose 15% year-on-year, supported by festive-season demand and replacement-led purchases. Additionally, the reduction in GST on tyres improved customer sentiment and encouraged faster replacement cycles. Consequently, demand picked up across commercial, passenger, and farm categories.
On the export front, volumes increased sequentially even as global trade conditions remained uncertain. Notably, JK Tyre diversified shipments across regions such as Latin America, the Middle East, and Southeast Asia. This broader geographic mix helped cushion the impact of tariff-related challenges and reduced reliance on any single market. Moreover, exports continued to contribute steadily to overall revenue growth.
Commercial vehicle tyres emerged as a major growth driver during the quarter. In particular, truck and bus radial volumes in the replacement segment rose by more than 20% year-on-year. Similarly, passenger car and farm tyre segments posted double-digit growth. Although two- and three-wheeler volumes grew sharply on a lower base, they still added incremental momentum. Furthermore, capacity utilisation stayed robust at 88% on a consolidated basis, with radial facilities operating above 90%.
Looking ahead, the company maintained its guidance of double-digit revenue growth for FY26. According to management, steady replacement demand, improving rural incomes, and continued infrastructure spending should support volumes. In addition, the company expects to sustain EBITDA margins in the 13-15% range over the coming quarters, assuming stable raw material costs and a favourable product mix.
At the same time, JK Tyre continues to invest in growth. The company is executing a multi-year capital expenditure programme covering passenger car radial, truck and bus radial, and all-steel light truck radial segments. These expansions are scheduled to begin contributing from the second half of FY26. Thereby easing supply constraints and supporting future demand.
Following the results, investor sentiment improved. Brokerage Emkay Global Financial Services Limited said the company is entering a phase of accelerating revenue growth and highlighted valuation comfort compared with peers. The brokerage pointed to improving return ratios and operating leverage that it believes the market has yet to fully price in.
In conclusion, with strong demand visibility, expanding capacities, and disciplined cost management. JK Tyre & Industries Ltd posts record quarterly numbers that underline its ability to sustain momentum in a cyclical industry environment.
