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Tyre Industry

Bridgestone India expects 7-8% growth in tyre replacement demand in 2025

Bridgestone India is expecting around 7-8 per cent growth in the replacement demand this calendar year after seeing a disruption owing to multiple factors in 2024, a top company executive has said. The Indian arm of the Japanese tyre company Bridgestone Corporation also said that along with increasing its product offerings, it is also expanding its market footprint by ensuring its presence in tier 3 and 4 towns of the country. The company in November announced a USD 85-million investment plan for enhancing production capacity and capability across its two plants in the country to reinforce its premium-mass strategy, We are focusing on providing premium products and services to Indian consumers as part of our mid-to-long term strategy with focus on sustainability at the core of our business. India is the fastest-growing market in our portfolio and our recently announced investments of USD 85 million is a reflection of our confidence in the Indian market, Hiroshi Yoshizane, Managing .

Bridgestone India expects 7-8% growth in tyre replacement demand in 2025
Updated On : 21 Jan 2025 | 6:14 PM IST

CEAT inks pact with Michelin to buy off-highway tyres segment for $225 mn

Tyre maker and RPG Group company CEAT on Friday said it has entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway tyres (OHT) and tracks business for about USD 225 million (about Rs 1,905 crore). The acquisition is significant for CEAT in its ambition to become a leading global player in the high-margin OHT segment, as it will give the company access to a global customer base, including over 40 international OEMs and premium international OHT distributors, the company said in a statement. The transaction, subject to regulatory approvals from relevant authorities, will include the business with revenues of around USD 213 million for CY 2023 and global ownership of the Camso brand, along with two manufacturing facilities, it said. "CEAT and Michelin announce that they have entered into a definitive agreement for CEAT to acquire Camso brand's off-highway construction equipment bias tyre and tracks business from Michelin in an all-cash deal valued at

CEAT inks pact with Michelin to buy off-highway tyres segment for $225 mn
Updated On : 06 Dec 2024 | 7:54 PM IST

India's tyre industry braces for another year of sluggish growth: CRISIL

This follows a similar trend in the previous year, marking a significant slowdown from the robust 21 per cent compound annual growth rate (CAGR) witnessed between FY21 and FY23

India's tyre industry braces for another year of sluggish growth: CRISIL
Updated On : 18 Nov 2024 | 7:07 PM IST

Tyre makers expected to see 7%-8% revenue growth this fiscal: CRISIL

Tyre makers are expected to see a 7-8 per cent topline growth during the current fiscal, driven by a 3-4 per cent increase in realisations and volume, ratings agency Crisil Ratings said on Monday. This would be for the second consecutive year that the estimated revenue growth for the tyre manufacturer will be in single digit (albeit nearly double than that of last fiscal) and after logging a compound annual growth rate of 21 per cent between fiscals 2021 and 2023, Crisil Ratings said. It also said that realisation growth will be staggered throughout the fiscal as companies are raising prices gradually to offset the surge in the cost of natural rubber. Volume growth, meanwhile, will be driven by replacement demand, Crisil Ratings said, adding that the analysis is based on the performance of top six tyre makers, which account for around 87 per cent of the industry's revenue. According to the ratings agency, the high natural rubber prices and limited ability to pass on these costs du

Tyre makers expected to see 7%-8% revenue growth this fiscal: CRISIL
Updated On : 18 Nov 2024 | 2:03 PM IST

Tyre firms raise prices for third straight quarter to combat rising costs

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

Tyre firms raise prices for third straight quarter to combat rising costs
Updated On : 15 Nov 2024 | 10:54 PM IST

JK Tyre Q2 results: Net profit falls 44% to Rs 135 cr on weak sales

(Reuters) - India's JK Tyre & Industries reported its first quarterly profit fall in two years on Tuesday, hurt by weak tyre sales to car, bus and truck makers.

JK Tyre Q2 results: Net profit falls 44% to Rs 135 cr on weak sales
Updated On : 05 Nov 2024 | 5:06 PM IST

Global carbon black industry likely to grow by 50% to $42 bn by 2032: APCBC

The global carbon black market is expected to grow by 50 per cent to touch USD 42 billion by 2032, industry body Asia-Pacific Carbon Black Confederation (APCBC) said on Wednesday. The carbon black industry is currently valued at around USD 28 billion, Amit Choudhary, Chairman International Advisory Committee, APCBC said in a statement. "The carbon black industry is expected to grow to USD 42 billion by 2032, offering substantial opportunities, particularly in the Asia-Pacific region, which remains a key driver of growth," he said. The global tyre industry is projected to invest USD 27.3 billion between 2023 and 2028, with India contributing USD 1 billion through new projects, Choudhary who is also the Executive Director of Himadri Speciality Chemical said. The global carbon black industry is entering a new phase, with accelerating demand in emerging markets like India and across the Asia Pacific region, he said noting India is also increasing its exports to the EU and North America

Global carbon black industry likely to grow by 50% to $42 bn by 2032: APCBC
Updated On : 23 Oct 2024 | 10:33 PM IST

Tolins Tyres garners Rs 69 cr from anchor investors ahead of its IPO

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 ..

Tolins Tyres garners Rs 69 cr from anchor investors ahead of its IPO
Updated On : 06 Sep 2024 | 11:06 PM IST

Tyre exports from India increases by 17% to Rs 6,219 cr in Q1: ATMA

Tyre exports from India grew 17 per cent year-on-year to reach Rs 6,219 crore in the first quarter of the current fiscal with the US emerging as the biggest market, industry body Automotive Tyre Manufacturers Association (ATMA) said on Thursday. Tyre exports from India recouped in the first quarter of FY25, increasing by 17 per cent YoY. Tyre exports had declined by 14 per cent in the corresponding quarter in the previous year, ATMA said citing data just released by the Ministry of Commerce. Sustained focus on R&D and development of advanced technology products aided by competitive pricing and branding efforts helped Indian tyre manufacturers drive growth in exports despite a challenging environment, ATMA Chairman Arnab Banerjee said in a statement. "Improving demand prospects in key export destinations and expected monetary easing also helped growth," Banerjee added. The rise in exports is a testament to the Indian tyre industry's enhanced integration with global supply chains, ..

Tyre exports from India increases by 17% to Rs 6,219 cr in Q1: ATMA
Updated On : 29 Aug 2024 | 7:22 PM IST

JK Tyre Q1 result: PAT rises 37% to Rs 211 cr, total income at Rs 3,655 cr

JK Tyre & Industries on Saturday reported a 37 per cent year-on-year increase in consolidated net profit at Rs 211 crore in the first quarter ended June 30, 2024. The tyre maker has reported a net profit of Rs 154 crore for the April-June quarter of last fiscal. Total income declined to Rs 3,655 crore for the period under review from Rs 3,726 crore in the June quarter of FY24, JK Tyre said in a regulatory filing. "We continue to deliver profitable growth with a year-on-year increase in operating margins," JK Tyre Chairman and Managing Director Raghupati Singhania said. The company's strategic thrust on premiumisation and pricing has helped it manage the raw material cost pressures, he added. Although overall revenues were marginally lower due to decline in the OEM segment, this was largely offset by increased exports, Singhania stated. During the quarter, exports recorded healthy double-digit growth, despite geo-political disruptions and rising ocean freight, he said. "Looking .

JK Tyre Q1 result: PAT rises 37% to Rs 211 cr, total income at Rs 3,655 cr
Updated On : 03 Aug 2024 | 4:43 PM IST

Expect double-digit growth in int'l tyre biz despite price hike: CEAT

Tyre maker CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee. The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth. "We would like to think that unless there are some unforeseen headwinds, the growth will be steady and positive. We would like to maintain double-digit growth in the replacement segment and international business," Banerjee told PTI. As for the company's sales to OEM, he said, "We see growth potential much ahead of 3 per cent in the passenger segment for CEAT on the basis of the model pipeline". In the first quarter of the ongoing fiscal, the company had posted good topline growth as rural demand has come back while .

Expect double-digit growth in int'l tyre biz despite price hike: CEAT
Updated On : 21 Jul 2024 | 2:30 PM IST

Tyre makers see severe crunch in domestic natural rubber availability: ATMA

Automotive Tyre Manufacturers' Association on Wednesday said its members are witnessing a 'severe crunch' in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of natural rubber (NR), its availability has shrunk, Automotive Tyre Manufacturers Association (ATMA) said, expressing apprehension that some "sections of natural rubber producing interests or trade are withholding the material in anticipation of an increase in the NR prices worsening the availability". The "tyre industry has been experiencing tightness in domestic availability of natural rubber for some time. However currently a severe crunch is being witnessed despite the fact that NR prices have touched a multi-year high. The paucity of natural price needs to be addressed at the earliest so that tyre production processes are not disrupted," ATMA Director General Rajiv Budhraja said in a statement. The Rubber Board had estimat

Tyre makers see severe crunch in domestic natural rubber availability: ATMA
Updated On : 03 Jul 2024 | 5:11 PM IST

Smooth ride for tyre exporter Balkrishna Industries as peers struggle

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

Smooth ride for tyre exporter Balkrishna Industries as peers struggle
Updated On : 19 Jun 2024 | 10:45 PM IST

Goodyear India falls 6% on weak Q4 results; Rs 15 dividend announced

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)

Goodyear India falls 6% on weak Q4 results; Rs 15 dividend announced
Updated On : 28 May 2024 | 1:11 PM IST

JK Tyre Q4 results: Net profit rises 56.2% to Rs 169 cr on sustained demand

Consolidated net profit rose for the sixth straight quarter to Rs 169 crore ($20.29 million) for the three months ended March 31 from Rs 108 crore a year earlier

JK Tyre Q4 results: Net profit rises 56.2% to Rs 169 cr on sustained demand
Updated On : 21 May 2024 | 6:32 PM IST

ICRA forecasts moderate growth for tyre sector in FY25 as input costs rises

The report cites healthy demand from OEMs in the passenger vehicle (PV) and two-wheeler (2W) segments, along with replacement demand, as the primary drivers of domestic growth

ICRA forecasts moderate growth for tyre sector in FY25 as input costs rises
Updated On : 09 May 2024 | 8:03 PM IST

JK Tyre bolsters retail network with it's new brand shop in Tamil Nadu

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.

JK Tyre bolsters retail network with it's new brand shop in Tamil Nadu
Updated On : 17 Apr 2024 | 6:25 PM IST

India fastest growing market, 25% growth expected in 2024-26: Bridgestone

Japanese tyre major Bridgestone expects to clock 25 per cent growth in revenue between 2024 and 2026 in India, which is its fastest-growing market globally, according to senior company officials. The company, which on Wednesday launched its 'Turanza 6i' premium range of passenger vehicle tyres developed specifically for the Indian market, will be increasing its tyre production to 40,000 per day in the next four to five years from the current 30,000 per day. "The size of the business (in India) out of our total global portfolio today is limited. However, it is the fastest-growing business portfolio in our global business. So that's why huge attention is there and strategic attention is here in India," Bridgestone India Managing Director Hiroshi Yoshizane told PTI in an interview. He said Bridgestone is already a leader in the aftermarket segment of passenger vehicle tyres in India with around 20 per cent share and the company's goal is to strengthen its position further. When asked

India fastest growing market, 25% growth expected in 2024-26: Bridgestone
Updated On : 10 Apr 2024 | 1:07 PM IST

Rubber price rise, demand woes could lead to derating of tyre companies

Demand trends could remain muted in the near term, given weak passenger vehicle replacement demand

Rubber price rise, demand woes could lead to derating of tyre companies
Updated On : 21 Mar 2024 | 12:27 AM IST

Tolins Tyres files draft papers with Sebi to raise Rs 230 cr through IPO

Tolins Tyres Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 230 crore through an 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 shares to the tune of Rs 30 crore, according to the draft red herring prospectus (DRHP) filed on Friday. Promoters -- Kalamparambil Varkey Tolin and Jerin Tolin-- will offload shares worth Rs 15 crore each through the OFS route. They own 83.31 per cent stake in the company at present. The company may consider raising Rs 25 crore in a Pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements of the company and Rs 62.55 crore for payment of debt. Further, Rs 24.36 crore will be used for investment in the company's subsidiary, Tolin Rubbers Privat

Tolins Tyres files draft papers with Sebi to raise Rs 230 cr through IPO
Updated On : 19 Feb 2024 | 3:26 PM IST