Name: Latest research reports of JK Tyre & Industries Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: JK Tyre & Industries Ltd.
Rating: 3
Author: ICICI Securities Limited

JK Tyre & Industries

Hold: JK Tyre & Industries Ltd.

Target

ICICI Securities Limited

JK Tyre is a leveraged company with absolute debt at ~| 5,400 crore as of FY20E with resultant debt: equity at 2.2x. Going forward, with limited capex plans and operating leverage benefits under way, we expect JKTIL to retire debt with resultant debt: equity expected at 1.4x as of FY22E. However, we await improved financials amid prolonged slowdown in the domestic CV space. We maintain our HOLD rating on the stock with a target price of | 85...