Tyre Industry

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

The company is working on being more environmentally responsible by producing more from less and reducing energy intensity, greenhouse gas emissions

Appellate tribunal NCLAT has directed the Competition Commission to pass a fresh order in the matter of alleged cartelisation by tyre companies, citing the need to re-examine arithmetical and inadvertent errors as well as to review the penalty to save the domestic tyre industry. The National Company Law Appellate Tribunal's (NCLAT) order dated December 1 has come on a batch of appeals filed by the tyre makers against the ruling by the Competition Commission of India (CCI) back in August 2018. The CCI had imposed penalties totalling more than Rs 1,788 crore on the tyre companies. In its 166-page order, the tribunal has remanded back all cases for review to CCI and also directed the regulator to pass a fresh order "after hearing the parties". The regulator should also "consider reviewing the penalty to save domestic industry" in view of the fact that it is under a lot of pressure from global tyre manufacturing companies where a lot of unutilised capacity is available, as per the ...

Higher raw material prices had punctured sequential margins of major tyremakers

Tyre manufacturer MRF Ltd missed second-quarter profit estimates on Tuesday, as soaring input costs and supply chain issues weighed, offsetting a rise in revenue

Stock of tyre maker was up 20% on Thursday

The report is based on the analysis of the top six domestic tyre makers, who account for 80 per cent of the Rs 75,000 crore of the sector, CRISIL said

JK Tyre & Industries on Thursday said it has come up with the country's first puncture guard technology in tyres for four-wheelers. The technology, with specially engineered self-healing elastomer inner coat, applied inside the tyres through an automated process, heals the punctures. The company plans to build in the technology in its range of tyres for four-wheelers. With this technology, tyres can self-repair multiple punctures, due to nails or other sharp objects, up to 6 mm in the tread area instantly, the tyre maker said in a statement. Puncture guard tyre offers hassle-free ride throughout the life of the tyre, without air loss, it added. "With the introduction of Smart tyre technology in 2020 and now the Puncture Guard Tyre technology, we have yet again delivered on our commitment to provide advanced mobility solutions to our customers. This technology offers high level of safety and convenience to vehicle owners," JK Tyre Chairman & Managing Director Raghupati ...

Balkrishna Industries: Volume constraints and valuations are the other concerns

Improving demand along with stable competitive intensity, and peak capex is expected to trigger linear growth for the Indian Tyre industry

Street will watch out for capital allocation, deleveraging progress

India's tyre sector is seeking effective collaboration with raw material partners to harness its potential, industry body Automotive Tyre Manufacturers Association (ATMA) said.

The firm reduced net debt by Rs 929 crore in FY21

Revenue from operations in the quarter under review rose by 63.21 per cent to Rs 2,927.28 crore compared to Rs 1,792.56 crore in Q4FY20

Apollo Tyres on Tuesday said it has launched a new range of tyres for the fast growing compact SUV segment. The company said it has launched Apterra Cross tyres in the country after two years of extensive testing and tuning. This is the first dedicated range of tyres that caters to the compact SUV segment, the hottest selling segment of the decade, in the Indian automotive industry, Apollo Tyres said in a statement. As per industry estimate, the CSUV (Compact SUV) tyre market in the country is pegged around four lakh tyres per month, and is soon expected to double. "The rise of the compact SUV segment, priced affordably, has reinvigorated the dream of owning an SUV in the Indian market, and we being the segment creators in the tyre space, are looking at leveraging on this opportunity with a dedicated range of tyres for this growing segment," Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said. The company has the first mover advantage with Apollo

The company's stock, which was trading at around Rs 97,000 on Thursday morning, dropped to Rs 94,428.10 (at 12.55 p.m) after the results were announced

Healthy volume outlook, focus on debt reduction are key positives, say analysts

The move is in order to offset the impact of rise in input costs

The move is with a view to guard domestic players from cheap imports

Price hikes to offset some of the the surge in raw material costs