JK Tyre posted a pre-tax profit of Rs 280.56 crore in Q4 FY21 compared with pre-tax loss of Rs 82.40 crore in Q4 FY20. EBIDTA stood at Rs 472 crore in Q4 FY21, recording an increase of 119% year on year. The company saw a margin expansion of 400 basis points in Q4 FY21 over Q4 FY20.

For FY21, the tyre maker's net profit spurted 134% to Rs 331 crore while net revenue grew by 4% to Rs 9,145 crore in FY21 over FY20. EBIDTA stood at Rs 1,349 crore, up 33% with margin expansion of 310 bps.

Commenting on the results, Dr. Raghupati Singhania, chairman and managing director said, "The year began with India in lockdown due to COVID-19 pandemic and the economy grinding to a halt with Q1FY21 almost a wash out. Economy started opening up gradually from mid-May. As a result of several initiatives taken JK Tyre recovered fast and achieved highest Sales in Q3FY21 & Q4FY21 increasing its market presence. With high capacity utilization, control on costs and reduced working capital, special focus on customer outreach and premium products offering, profitability improved significantly. Similarly, JK Tyre subsidiaries - Cavendish Industries and JK Tornel also added to substantial overall improvement in the profitability of the Company."

Dr. Singhania further said, "JK TYRE is fully geared to face challenges emanating from rising raw material prices and prevailing lockdowns under second wave of novel virus." He further commented, "Despite these headwinds, the company expects to continue capturing opportunities that are arising in this new environment in India and abroad."

Meanwhile, the company has announced a dividend of Rs 2 per share for the financial year ended 31 March 2021.

JK Tyre & Industries is currently the market leader in truck bus radial segment. The company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, off-the-road and two & three-wheelers.