Page 2 - Mrf Tyres

MRF stock price soars 6% after Q1FY25 profit jumps 55% QoQ

The jump in the stock price came after the company's profit zoomed 54.8 per cent quarter-on-quarter (Q-o-Q) to Rs 573.4 crore in the June quarter of FY24, from Rs 370.5 crore in Q4FY24.

Tyre manufacturers Ceat and Apollo to hike prices as input costs soar

Crude prices, which hovered around $88 to 90 over the past three months, represent a 6 to 8 per cent increase from the previous quarter, adding further strain on manufacturers' margins

Tyre sale volumes expected to see moderate growth of 4-6% in FY25: ICRA

Domestic tyre sale volumes are expected to see a moderate growth of 4-6 per cent this fiscal after witnessing an estimated pace of 6-8 per cent in the previous financial year, ratings agency Icra said on Thursday. This growth in the last fiscal was driven by factors such as elevated base and subdued growth in the commercial vehicle (CV) segment, it said. However, Icra anticipates domestic demand from original equipment manufacturers (OEMs) in certain consumer segments like PV (passenger vehicle) and two-wheeler as well as for replacement to remain healthy, supporting overall tyre volume expansion in FY25. While revenues are likely to expand by 5-7 per cent this fiscal, high natural rubber prices and increasing crude prices are likely to moderate the tyre industry's margins by 200-300 basis points (bps) in FY25, Icra said. The rating agency also said it expects the replacement market, which contributes to over two-thirds of the industry volumes, to remain stable, aided by healthy ..

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

MRF Q3 results: PAT rises threefold to Rs 509 crore, revenue up 9.17%

The company opted not to disclose figures for its international operations, citing their insignificance in meeting the disclosure threshold specified in the Indian Accounting Standards

Declining raw material prices help to boost tyre makers' profitability

Among raw materials used by the tyre industry, Brent crude oil prices saw a 6 per cent drop year-on-year

Tyre producers get a grip as raw material prices ease, demand recovers

Tread with caution: Any discount/price cut in the replacement market could offset margin gains

Five Indian tyre makers ranked among global top 30 manufacturers: Report

Five Indian companies featured among the top 30 tyre manufacturers globally, according to a report by Automotive Tyre Manufacturers' Association (ATMA). In the 'Tire Business Magazine's 38th Global Tire Report' by ATMA based on revenue in 2022, Apollo, MRF, JK Tyre, CEAT, and Balkrishna Industries (BKT) from India featured in the top 30 list. As per the report, Apollo is at the 13th position and MRF at the 14th, JK Tyre at 19th, CEAT at 22nd and BKT at 27th in the top 30 list. Michelin, Bridgestone, Goodyear, and Continental continue to occupy the top four spots, the report said. "For quite a few years, we had only three Indian companies in the top 30. CEAT made an entry in the coveted list a couple of years ago and now BKT also finds a pride of place," ATMA Director General Rajiv Budhraja said in a statement. ATMA said in the last 10 years, Apollo has moved up four places, while JK Tyre has advanced six places. On the other hand, CEAT moved up 13 places, while off-road major BKT

MRF Limited Q2FY24 result: Net profit jumps 351% YoY to Rs 586 crore

The company declared an interim dividend of Rs 3

Tyre stocks in demand on Ceat's strong Q2 results; MRF, JK Tyre at new high

Ceat said the healthy quarter-on-quarter volume growth was driven by strong OEM demand for festive inventory.

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MRF gains 4%, hits new high in weak market on strong Q1 results

The benefits of lower raw material cost resulted in better profitability during the quarter

MRF can hit Rs 120,000, technical charts suggest; support at Rs 96,000 mark

Overall trend of the MRF shares has become lucrative and highly optimistic following decisive rally over the key hurdle of Rs 95,000. The short-to-medium trend is poised for 20 per cent upside.

MRF hits Rs 100,000 mark; stock touches record high on the BSE

So far in the current calendar year 2023, MRF has outperformed the market by gaining 14% on improved financial performance. In comparison, the S&P BSE Sensex gained 3% during the period

MRF Q4 net profit doubles to Rs 341 cr, declares Rs 169/share dividend

Company says it recorded growth in all product groups as increase in raw material prices continued

Tyre stocks rally up to 8% on MRF's strong Q4 results; Apollo at 52-wk high

MRF's board has recommended a final dividend of Rs 169 (1,690 per cent) per share

MRF Q4 net profit up 86%, tyre maker announces dividend of Rs 169 apiece

Its consolidated revenue from operations rose 10 per cent to Rs 5,841.7 crore in Q4FY23

Tyre stocks in focus: Ceat, JK Tyre surge up to 11% on healthy margin hopes

Inherent to the tyre industry, raw material costs forms the largest cost head, accounting up to 65 per cent of the total cost, said analysts

MRF second strongest tyre brand in the world: Brand Finance report

MRF scored well in almost all parameters and has also been named the world's second fastest-growing tyre brand. It has scored 83.2 out of 100 in brand strength and was awarded a AAA- brand rating

Overwhelming response for 22nd edition of MRF MoGrip Supercross 2023 season

Pune's Rugved Barguje will defend his title at the 22nd edition of the MRF MoGrip FMSCI National Supercross Championship 2023, which will kick-start here on Saturday. The first of the six rounds of the biggest off-road racing National Championship in India will be promoted by Godspeed Racing, Pune. The bikers will experience highly-technical, custom-made tracks with jumps, table tops, hoops and other obstacles, created by a team headed by Shyam Kothari, a 7-time National champion and head of Godspeed, the rights-holder. After the first round here, the Championship will travel to Vadodara, Nasik, Bengaluru, Guwahati, and Shillong is expected to host the grand finale in the picturesque north-east hill station. About 120 riders, the cream of talent from all over the country, will fight for points in eight categories, where top factory riders from Petronas TVS Racing and Hero MotoSports vie with talented privateers. With MRF Tyres as the title sponsor, the Supercross Nationals is the