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Automotive Tyre Manufacturers' Association on Monday said Arun Mammen, Vice Chairman & Managing Director of MRF Ltd has been re-elected as its Chairman. In other top leadership changes, Rajarshi Moitra, Managing Director, Bridgestone India Pvt Ltd has been appointed new Vice Chairman of the Automotive Tyre Manufacturers' Association (ATMA), the association said in a statement. The national industry body for automotive tyre sector in India further said Sanjay Chatterjee, Assistant Director General of ATMA has been elevated as Director General ATMA in place of Rajiv Budhraja who retires on March 31, 2026. Set up in 1975, ATMA represents the over USD 12 billion automotive tyre industry in India with membership of large tyre companies comprising a mix of Indian and international tyre majors that represent over 80 per cent of production of tyres in the country.
The domestic tyre industry is expected to witness revenue growth of 7-8 per cent this fiscal year, driven by replacement demand that accounts for half of annual sales, according to a report by Crisil Ratings. The segment is expected to post growth even as offtake by original equipment manufacturers (OEMs) is likely to be subdued, the report stated. It also noted that the rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges, the report stated. Operating profitability is likely to remain steady at 13-13.5 per cent, supported by stable input costs and healthy capacity utilisation, it said. This, along with strong accruals, lean balance sheets and calibrated capital spending should help sustain the sector's stable credit outlook, the report stated. "Our analysis of India's top six tyre makers, catering to all vehicle .
JK Tyre & Industries has drawn up plans for expanding its marketing presence in West Bengal and the northeast region of the country, a company official said on Tuesday. "West Bengal is a strategic hub for the company in the east. The company's strategic focus in West Bengal includes deepening penetration in the truck and passenger car radial (PCR) segments", Anshuman Singhania, managing director of JK Tyre & Industries, said in a statement. He said the northeast region continues to be a high-priority market for JK Tyre, adding that the company has more than 800 dealers in the eastern zone. In West Bengal, Singhania said the company has more than 31 branded shops and six depots across the state. "We plan to increase the number of branded ships to 40 in West Bengal by the end of the current financial year", he said. Singhania said that the company, a part of the JK group, is aiming at a revenue growth of 25 per cent this fiscal and also outperform the projected market growth of .
The initial public offer of Tolins Tyres got fully subscribed within hours of opening of bidding on Monday and ended the first day with an overall over-subscription of 1.80 times. The initial share sale received bids for 1,34,50,866 shares against 74,88,372 shares on offer, according to NSE data. The Retail Individual Investors' portion was booked 3.16 times while the quota for non-institutional investors got subscribed 83 per cent. The Qualified Institutional Buyers (QIBs) part got subscribed 12 per cent. Tolins Tyres Ltd on Friday announced that it has mopped up Rs 69 crore from anchor investors. The company has fixed a price band of Rs 215-226 per share for its initial public offering (IPO). The Kerala-based company's initial share sale is a combination of a 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. Promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload shares worth Rs 15 crore each throu