Tyre Companies

CEAT's consolidated net profit (Bottomline) plunged 46.5 per cent year-on-year (Y-o-Y) to Rs 97.1 crore in the December quarter of financial year 2025 (Q3FY25), from Rs 181.5 crore in Q3FY24

Both CEAT and JK Tyre maintain that strong demand in the replacement tyre market is helping to cushion the impact of price hikes

The uptick in the JK Tyre & Industries share price came after the company's board approved the merger with Cavendish Industries.

Tolins Tyres Ltd on Friday announced that it has mopped-up Rs 69 crore from anchor investors ahead of its initial share-sale opening for public subscription. BofA Securities Europe SA, NAV Capital VCC, Chhatisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I Fund, Invicta Continuum Fund I and Steptrade Revolution Fund are the anchor investors that have been allotted shares. The company allotted a total 30.53 lakh shares to these investors at Rs 226 apiece, which is also the upper-end of the price band. This aggregates the transaction size to Rs 69 crore, according to a circular uploaded on BSE's website. The company's Rs 230-crore IPO will be open for public subscription during September 9-11. It has fixed a price band of Rs 215 to Rs 226 per share for its initial public offering (IPO). The Kerala-based company's initial share-sale is a combination of fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity ..

Exports and market share gains have helped the company to pull ahead

Goodyear India's net loss stood at Rs 4.2 crore in the March quarter of financial year 2024 (Q4FY24), as opposed to net profit of Rs 33.6 crore in the same quarter a year ago (Q4FY23)

India has sufficient tyre manufacturing capacity and imports should not be liberalised through FTAs by way of duty concessions, industry body Automotive Tyre Manufacturers' Association said on Monday. The automotive tyres rank at the forefront of those sectors where domestic manufacturing capabilities can render imports unnecessary, Automotive Tyre Manufacturers' Association (ATMA) has communicated to the Centre. This was in response to the government seeking feedback about sectors in which India has capabilities to be self-reliant so that upcoming FTAs could be drafted while safeguarding the interests of domestic industry, ATMA said in a statement. The industry body has pointed out that imports should not be liberalised through FTAs by way of duty concessions. India's domestic tyre industry, among the largest in the world, has an annual production exceeding 200 million units across various categories including two-wheelers, passenger vehicles, commercial vehicles, and off-road ...

Tyre manufacturer JK Tyre and Industries Ltd has inaugurated its brand shop in Tamil Nadu bolstering its retail presence in the country. The new outlet is the 22nd brand shop in Tamil Nadu and it is located on the State Highway 142 on the Perambalur-Thuraiyur Road. The ultra-modern shop has been designed to provide best-in-class customer solutions thereby strengthening JK Tyre's network presence, a company statement said here. The brand shop - Hindustan Tyres - was inaugurated by JK Tyre and Industries Ltd Vice President - Mobility Solutions and Fleet Management, Sanjeev Sharma. The state-of-the-art facility is equipped with highly trained technical advisors, wheel servicing equipment, full range of tyres for commercial vehicles among others. JK Tyres and Industries Ltd has a network of more than 6,000 dealers and over 650 dedicated brand shops across the country.

On a sequential basis, the company exhibited a 5.39 per cent decline in revenue along with PAT, which also declined by 8.79 per cent. The EBITDA grew by 61 per cent year-on-year, reaching Rs 563 crore

Ceat's share price rose by 4.34 per cent, ending the day's trade at Rs 2,875 apiece on the BSE

The funds raised will be utilised for both strengthening the balance sheet and growing capex

Ratings firm Icra on Thursday said it expects a revenue growth of 7-9 per cent for tyre industry in the current fiscal. The rating agency pegs the domestic tyre demand growth at 6-8 per cent for FY2024, supported by stable growth in the replacement segment and sustained demand momentum in the OEM segment, Icra said in a statement. The rating agency noted that it expects the demand momentum in the OEM (Original Equipment Manufacturer) segment to continue in FY2024 with an estimated growth of 8-10 per cent. Replacement demand, which forms around two-thirds of tyre demand, is likely to witness mid-single digit growth in FY2024, it added. "ICRA projects a 7-9 per cent growth in industry revenues for FY2024 with domestic growth outpacing exports," Icra Assistant Vice President and Sector Head Nithya Debbadi said. Segment-wise, commercial vehicles shall benefit from the increasing traction in the infrastructure and construction segments, she added. Strong underlying demand and preferen

The firms also say that while crude oil prices have cooled off, they must sustain at current levels for actual impact to be seen on manufacturing operations

The Indian tyre industry will be able to scale a turnover of Rs 1 lakh crore in the next three years on the back of new capacities available, Automotive Tyre Manufacturers Association said on Wednesday. The industry has completed investment of Rs 35,000 crore in the last three years in new capacity creation and debottlenecking. "The new capacities will go on stream over the next couple of years to meet the growing demand in an economy that is poised to remain as the fastest growing for the next few years," Automotive Tyre Manufacturers Association (ATMA) said in a statement. Demand is expected to grow stronger in view of an uptick in economic activities and the big push envisaged for infrastructure growth. "The new capacity will help the industry notch a turnover of Rs 1 lakh crore in the next 3 years from Rs 75,000 crore currently," ATMA said. "The investments that have been undertaken in a challenging time period, span across all the key tyre segments with major beneficiary bein

Higher raw material prices had punctured sequential margins of major tyremakers

Company's near term will be tough, but brokerages believe it will continue to gain market share

The All India Tyres Federation on Thursday sought removal of anti-dumping duty on tyres and urged the government to lift import restrictions imposed after the Competition Commission of India's (CCI) order on domestic tyre manufacturers for indulging in price rigging and cartelisation. In August 2018, the CCI had imposed a total fine of more than Rs 1,788 crore on Apollo Tyres, MRF, CEAT, Birla Tyres, JK Tyre & Industries and the Automotive Tyre Manufacturers Association (ATMA). They were found to have violated Section 3 of the Competition Act during 2011-12. The Section prohibits anti-competitive agreements. An appeal was filed against the CCI order before the Madras High Court and the same was dismissed on January 6, 2022. In a letter to Finance Minister Nirmala Sitharaman and Commerce & Industry Minister Piyush Goyal, the Federation also sought an appointment to its delegation so that it explains the entire issue. The CCI on Wednesday said the Supreme Court has dismissed a ..

JK Tyre & Industries on Thursday said its consolidated net profit declined 76.6 per cent to Rs 53.92 crore for the third quarter ended December 31, 2021. The company had reported a consolidated net profit of Rs 230.46 crore in the corresponding period last fiscal, according to BSE filing. However, its revenue from operations in October-December 2021 rose to Rs 3,076.03 crore as compared with Rs 2,769.28 crore in the year-ago period, JK Tyre said in a statement. "We are optimistic on the outlook of the tyre industry and believe there will be good demand growth across all market segments given the expected economic activity going forward and the waning effect of the pandemic," JK Tyre Chairman and Managing Director Raghupati Singhania said. In a separate regulatory filing, the tyre maker said the Competition Commission of India (CCl) has published an order dated August 31, 2018, against the company and some other OEMs (original equipment manufacturers) for alleged contravention of ..

Apollo Tyres on Wednesday announced its foray into the truck and bus tyre segment in the US and Canada, following the launch of its passenger vehicle range in the two markets. The commercial vehicle range has been introduced under the Apollo brand although the PV (passenger vehicle) range was launched under the premium European brand, Vredestein last September, the company said in a statement. The north American range of truck and bus tyres will be produced at the company's manufacturing units in Hungary and Chennai, India. The tyre line-up will encompass a full range of regional, super-regional, coach/urban and mixed-use applications with fitments for rims ranging from 17.5 inches to 24.5 inches, it added. Apollo Tyres Assistant Vice President (Americas) Abhishek Bisht said, "Our market entry in North America is preceded by decades of global commercial vehicle tyre manufacturing and distribution expertise. We come to market positioned to make an immediate impact by offering a tier

During the third quarter, the company's revenue rose to Rs 553.31 crore from Rs 497.54 crore in the year ago period, an increase of around 11.20 per cent