Page 4 - Tyre Industry

Demand recovery key to Apollo Tyres' aggressive $5 billion revenue target

Street will watch out for capital allocation, deleveraging progress

Tyre industry seeks raw material partners to unleash growth

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

JK Tyre to spend Rs 200 crore in next two years to enhance production

The firm reduced net debt by Rs 929 crore in FY21

JK Tyre posts consolidated profit after tax of Rs 194 cr for March quarter

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 launches new range of tyres for compact SUV segment

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

MRF profit grows 116% to Rs 511.72 cr in Dec quarter, revenue rises 14%

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

High valuation and margin concern may limit rally in Apollo Tyres

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

French tyre major Michelin to hike prices in India by 8% from March

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

Commerce min for extension of anti-dumping duty on carbon black

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

OEM recovery, robust replacement demand to boost Apollo Tyres revenues

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

Tyre makers cautious on outlook even as capacity utiliisation improves

Factors helping capacity utilisation include encouraging domestic replacement demand in passenger vehicles, two-wheelers and the farm segment, and a drop in imports

Off-highway tyre-maker ATG to invest Rs 1,240 cr in 3rd plant at Vizag

Off-highway tyre-maker Alliance Tire Group (ATG), owned by the Japanese major Yokohama Group, is setting up its third plant in the country in Visakhapatnam with an investment of USD 165 million (around Rs 1,240 crore). The proposed USD 165-million plant will add over 20,000 tonnes per annum (55 tonne per day rubber weight) capacity to the 2.3-lakh-tonne annual production from two India plants and will be commissioned by the first quarter of 2023. The plant will generate around over 600 new jobs, adding to its 5,500-strong headcount, Nitin Mantri, chairman of Yokohama India and director of ATG, told PTI on Sunday. ATG has one plant at Dahej in Gujarat with an annual capacity of 1.3 lakh tonne (360 tonne per day) and another at Tirunelveli in Tamil Nadu with an annual capacity of 1 lakh tonne. The group has a 45,000-tonne plant in Israel as well where it has its main R&D centre as well. The TN facility also has an R&D centre. These two plants produce all the three key ...

JK Tyre reports net loss of Rs 204 cr in June qtr as Covid-19 hits sales

Net sales declined to Rs 1,138.14 crore in the first quarter as compared with Rs2,581.47 crore in the year-ago period, JK Tyre said in a statement

Agri demand gives tyre maker Balkrishna Industries firm grip in FY21

Gain in market share, strong balance sheet are other positives

Tyre industry calls for curbs as imports remain buoyant despite lockdown

In the first 11 months of FY20, a year that saw economic slowdown in India and reduced demand, tyres worth $385 million still made their way to the country

Lower raw material cost to help tyremakers amid economic slowdown

Higher share of replacement segment should help cushion demand drop

Tyre production dips on slowdown in domestic market, overall exports up 18%

As far as exports are concerned, overall tyre exports rose by 18 per cent to 2.82 million units from 2.40 million units

Tyre makers to go through rough patch due to slowdown in auto sector

Following a 6.7% growth in FY19, the domestic tyre demand is estimated to grow at a lower rate of 3-4% (volume) during FY20, according to Icra

Replacement segment gives smooth ride to Apollo Tyres amid auto slowdown

Slowing auto sales, higher commodity costs remain major areas of concern

Govt slaps duties on new pneumatic radial tyres imported from China

The Department listed nearly eight tariff items and duty ranges from 9.12 per cent to 17.57 per cent