TYRE Sector
Q2 – FY 2017-18 was again a disappointing quarter for the tyre manufacturers in India. Click here to see Q1 Results.
As far as numbers are concern, the profits of all the companies were down in the range of 16% to 96%, while revenues were almost flat to negative.
The Common Parameter/s for such Performance for the Sector is/are –
Higher Raw Material prices
Positive Sign for the Tyre Sector –
- Results were an indication of the market that is showing signs of picking pace
- Riding on better market sentiment following the GST rollout
- The imposition of anti-dumping duty on cheap chinise Bus/Trucks Radials, announced towards the end of the quarter is a positive step
- The Government’s focus on roads and infrastructure, supported by affordable consumer financing is likely to have a positive impact
Market Leader Performance:
Market leader MRF registered 2.05% falls in Revenues and 22.16% falls in Profits as compared to the same period last year.
Star Performer in the Sector:
The star performer in the sector for the quarter ended 30th September 2017 were Balkrishna Industries and ApolloTyres where the company Revenues grew by 14.09% and 6.74% respectively (while Profits were down) as compared to same period last year.
Here is the Data –
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