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JK Tyre and Industries Ltd. reported healthy Q4 FY21 results.
Consolidated revenue rose 63.1% YoY to Rs 2,927 crore (India up 61%, Mexico up 104%; India formed ~90% of sales).
Ebitda margin fell to 15.5% (down 260 basis points QoQ) on the back of gross margin deterioration of 370 bps even as the company experienced sizeable operating leverage benefits.
India Ebit margins fell 220 bps QoQ to 13.1% while Mexico margins were down 60 bps YoY to 7.9%.
Consolidated profit after tax was at Rs 189 crore versus loss after tax of Rs 47 crore in base quarter.
The company declared a dividend of Rs 2/ share for FY21.
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