External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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Equity Bottom-Up

<ul><li>JK Tyre (JKI) Q2 results were soft, impacted by ~16% sales decline in Mexico on weak Latin American demand and 10% currency depreciation vs INR.</li><li>While domestic MHCVs have been weak in H1 (JK is among the segment leaders with 53% CV contribution in consolidated sales), outlook is improving amid expected pickup in infra/capex activity and a favorable base.</li><li>Further, softening rubber prices (down over 20% from recent peak), pricing action (~3-3.5% YTD), and better mix should aid margin recovery Q4FY25E onwards.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

JK Tyre (JKI) Q2 results were soft, impacted by ~16% sales decline in Mexico on weak Latin American demand and 10% currency depreciation vs INR.While domestic MHCVs have been weak in H1 (JK is among the segment leaders with 53% CV contribution in consolidated sales), outlook is improving amid expected pickup in infra/capex activity and a favorable base.Further, softening rubber prices (down over 20% from recent peak), pricing action (~3-3.5% YTD), and better mix should aid margin recovery Q4FY25E onwards.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JK Tyre - Weak Q2; Bottom Quarter, Improvement Expected Ahead

CEO, Helixtap

Farah Miller

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

Commodities

<ul><li>Exports help Apollo Tyres keep momentum, unlike others   </li><li>MRF reduces prices of truck tires, others following suit  </li><li>JK Tyres in TBR, PCR, and ASLTR expansion for US$169 mn</li></ul>

Exports help Apollo Tyres keep momentum, unlike others   MRF reduces prices of truck tires, others following suit  JK Tyres in TBR, PCR, and ASLTR expansion for US$169 mn

Tire Majors Excel In Q3 FY24 YoY, But MoM Performance Dips

<ul><li>MRF scripts 417% rise in profit YoY  </li><li>Apollo Tyres clocks 124% rise in profit YoY  </li><li>CEAT registers a whopping over 15 times increase in profit  </li><li>JK Tyre reports 352% rise in profits</li></ul>

MRF scripts 417% rise in profit YoY  Apollo Tyres clocks 124% rise in profit YoY  CEAT registers a whopping over 15 times increase in profit  JK Tyre reports 352% rise in profits

Indian Tire Majors Upbeat In Q1 FY 2024 On Domestic Push

<ul><li>JK Tyre completes first phase expansion at Banmore at INR 312 crore investment  </li><li>CEAT acquires 56.9% stake in online tire-trading firm Tyresnmore   </li><li>Apollo lines up INR 1,100 crore overall capex for India</li></ul>

JK Tyre completes first phase expansion at Banmore at INR 312 crore investment  CEAT acquires 56.9% stake in online tire-trading firm Tyresnmore   Apollo lines up INR 1,100 crore overall capex for India

Indian Tire Majors On Expansion, Consolidation Mode

<ul><li>Q4 FY 2023 MRF profit accounts for half of the whole FY profit</li><li>Apollo says India, Europe operations did well in Q4 2023</li><li>CEAT feels OEMs and specialty & passenger category tires drive growth</li></ul>

Q4 FY 2023 MRF profit accounts for half of the whole FY profitApollo says India, Europe operations did well in Q4 2023CEAT feels OEMs and specialty & passenger category tires drive growth

Indian Tire Makers Mint Profit As NR Prices Keep Low

India

JK Tyre and Industries Limited manufactures a wide range of automobile tires, tubes and flaps. The Company also operates a chain of tire outlets across India which sell the Company's tires in addition to providing a range of automotive services, including wheel alignment and tire changing.

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JK Tyre & Industries (JKI IN)

JK Tyre - Weak Q2; Bottom Quarter, Improvement Expected Ahead

JK Tyre (JKI) Q2 results were soft, impacted by ~16% sales decline in Mexico on weak Latin American demand and 10% currency depreciation vs INR.

Emkay

Tire Majors Excel In Q3 FY24 YoY, But MoM Performance Dips

Subdued demand coupled with relatively higher raw material (crude oil and NR) costs reflected in lesser profit for tire majors except Apollo Tyres...

Helixtap

Indian Tire Majors Upbeat In Q1 FY 2024 On Domestic Push

Indian tire majors repeated the sterling performance in Q4 of FY 2023 in the Q1 of FY 2024 (April 2023-March 2024) too on the back of prolonging...

Helixtap

Indian Tire Majors On Expansion, Consolidation Mode

With JK Tyre completing the expansion of its radial tire manufacturing unit in Madhya Pradesh State, Apollo Tyres lining up INR 1100 crore for...

Helixtap

Indian Tire Makers Mint Profit As NR Prices Keep Low

Easing raw material prices led by natural rubber and good domestic demand have enabled the Indian tire majors to post splendid results in Q4 of FY...

Helixtap

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