List Of Top Best Tyre Company In India- A Helpful Guide (#2020)

List Of Top Best Tyre Company In India- A Helpful Guide (#2020)

Here is the list of Top Best Tyre Manufacturing Company listed in India based on Market Capitalization

  • MRF Ltd
  • Balkrishna Industries Ltd
  • Apollo Tyres Ltd
  • CEAT Ltd
  • Goodyear India Ltd
  • JK Tyre & Industries Ltd
  • TVS Srichakra Ltd

Tyre Industry In India

The Indian tyre industry is estimated to be around 65,000 crores in 2018- 2019 and the top eleven tyre companies account for more than 90% of the volume.

The industry caters to Original Equipment Manufacturers (OEM), Export, and Replacement markets mainly through four vehicle categories namely Commercial Vehicle (CV) including Truck and Buses (T&B), Passenger Vehicles (PV), Two-Wheeler and others including Tractors and Off The Road (OTR).

Of these three distinct markets, the Replacement market accounts for approximately 56% of the Industry with Institutional/OEM and Exports making up the balance 44% respectively.

Tyre Industry In India Market Structure

List Of Top Best Tyre Company In India

#1. MRF Ltd

MRF Ltd is the No. 1 Tyre manufacturing company listed in India with a market cap of 28,524 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1946
Founder K.M.Mammen Mappillai
HeadquartersChennai, India
Chairman & MDK.M. MAMMEN

MRF Limited (MRF) was initially started as a small manufacturing unit producing balloons, latex cast squeaking toys, and industrial gloves.

It was incorporated as a private limited company in 1960 to take over the business of a partnership firm ‘The Madras Rubber Factory’, started by the late Mr. K M Mammen Mapillai. Over the years, the company has established a country-wide dealer network and enjoys a strong brand image.

MRF had an installed capacity of 66.6 million tyres as on March 31, 2019, spread over nine plants across India.

  • Today, It is the market leader in the Indian tyre industry with an estimated market share of ~28% (based on values) during FY2019.
  • It is ranked among the worlds’ top 20 Tyre Manufacturers.

MRF has its manufacturing plants spread across nine locations in Tamil Nadu, Kerala, Andhra Pradesh, Gujarat, and Goa.

Business Segments

  • Tyre : MRF continues to be the market leader in the domestic tyre industry with a significant presence in the entire segment. The company has a presence in almost all sub-segments of the tyre industry viz., two-wheeler, truck and bus, passenger car and jeep, Small Commercial Vehicles (SCV), and Light Commercial Vehicles (LCV), farm, Off The Road (OTR) and aviation.
  • Sports Goods: BATS, Junior Kits, Protective Gears, Kit Bags, Cricket Balls, CAPS
  • FUNSKOOL: Funskool offers a wide range of toys and games for children. Indian brands from Funskool, like:
    • Giggles: Infant & Preschool Toys
    •  Fun dough: Dough
    •  Handicrafts: Arts & Crafts
    •  Play & Learn: Educational range of puzzles
  • PreTreads: Today, MRF PRETREADS has emerged as the Mileage leader in pre-cured retreading and also has the specialized expertise required for retreading Radial Tyres of Truck, Bus, LCV, and Passenger vehicle.
  • Paints & Coats

Current Year Financial Data

  • Market Cap:  28,043 Cr.
  • Current Price:  66,140
  • 52 weeks High / Low  73565.70 / 49915.10
  • Book Value:  28,801
  • Stock P/E: 19.71
  • Dividend Yield: 0.09 %
  • ROCE: 13.68 %
  • ROE: 9.67 %
  • Sales Growth (3Yrs): -7.33 %

Bonus Share Issue History

Bonus History (MRF)

DateBonus Ratio
02-04-19751:2
02-04-19703:10

MRF Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales7,45916,2398.09%
Profit3581,42314.80%
Share Price6020.5666,14027.08%

#2. Balkrishna Industries Ltd

Balkrishna Industries Ltd is the Second Largest Tyre Manufacturing company listed in India with a market cap of 24,726 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1987
FounderMahabirprasad Poddar
Chairman & MD Arvind Poddar
  • BKT is India’s leading player in the Global ‘Off-Highway Tire (OHT)’ Market
  • The company has a wide product profile and Sales to over 160 countries through Distribution network in the Americas, Europe, India and Rest of the World
  •  It has over 2700 stock-keeping units
  • It has achievable capacities of ~300,000 M.T.P.A

The company has 5 manufacturing unit in India

  • Waluj, Maharashtra
  • Chopanki, Rajasthan
  • Bhuj, Gujarat
  • Mould plant, Dombivali
  • Bhiwadi, Rajasthan

Application of Tires

Agriculture TiresCotton Pick Harvester,Tractor,Vineyard Tractor,Pivot Irrigator
Industrial TiresLoader, Telehandler, Mobile Crane
OTR TiresLoad Haul Dump, Underground Mining, Container Handler

Current Year Financial Data

  • Market Cap:  25,404 Cr.
  • Current Price:  1,314
  • 52 weeks High / Low  1318.90 / 677.60
  • Book Value:  259.07
  • Stock P/E: 26.47
  • Dividend Yield: 1.52 %
  • ROCE: 22.08 %
  • ROE: 17.22 %
  • Sales Growth (3Yrs): 17.20 %

Bonus Share Issue History

Bonus History (Balkrishna Industries)

DateBonus Ratio
08-11-20171:1
16-05-20051:2
30-10-20031:1
22-07-19941:1
30-09-19911:1

Balkrishna Industries Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales1,5264,81112.17%
Profit21996015.93%
Share Price63.161,31435.46%

#3. Apollo Tyres Ltd

Apollo Tyres Ltd is the 3rd largest tyre manufacturing company in India with a market cap of 6,338 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1972
Chairman & Managing DirectorOnkar S. Kanwar

Apollo Tyre Ltd is the leading manufacturer of radial tyres for the domestic Tyre & Bus (T&B) segment (over 25% market share) and has established its position in the light commercial vehicles (LCV), tractors, and passenger car radial (PCR) segments.

  • Apollo and Vredestein are two strong product brands in its key markets.
  • The company has Four Manufacturing location in India (Chennai, Perambra, Limda, and Kalamassery) and Two Global Manufacturing location (Netherlands and Hungary)

Business Segments

The company’s business is in 5 segments.

  • Truck & Bus
  • Passenger Vehicles
  • Off Highway
  • Light Truck
  • Two Wheeler

Revenue Break-Up (%)

Apollo Tyre Ltd- a leading tyre company in india  Revenue Break-up

Current Year Financial Data

  • Market Cap:  6,536 Cr.
  • Current Price:  114.25
  • 52 weeks High / Low  200.80 / 73.40
  • Book Value:  173.59
  • Stock P/E: 13.72
  • Dividend Yield: 2.84 %
  • ROCE: 8.74 %
  • ROE: 8.39 %
  • Sales Growth (3Yrs): 13.99 %

Apollo Tyre Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales8,12116,3277.23%
Profit653476-3.11%
Share Price62.89114.256.15%

#4. CEAT Ltd

CEAT Ltd is the 4th largest tyre manufacturing company in India with a market cap of 3,716 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1958
Parent RPG Group
MD Anant Vardhan Goenka

CEAT is one of the leading tyre companies in the country and caters to the various user segments which include Trucks and Buses (T&B), Light Commercial Vehicles, Tractors, Two-wheelers (2W) & Three-wheelers (3W), Passenger Vehicles and off-road tyres.

It has a widespread distribution network spread across the country with more than 3,400 dealers, more than 270 distributors and more than 300 exclusive CEAT Shoppes & CEAT Tyre service hub servicing over 30,000
sub-dealers.

In India, CEAT operates with five manufacturing units located at Mumbai, Nagpur, Nasik, Ambernath (Maharashtra; operationalized in FY18), Halol (Gujarat)

CEAT Ltd a Tyre company in india Revenue Break up

Current Year Financial Data

  • Market Cap:  3,729 Cr.
  • Current Price:  921.95
  • 52 weeks High / Low  1101.00 / 600.00
  • Book Value:  718.89
  • Stock P/E: 14.96
  • Dividend Yield: 1.30 %
  • ROCE: 13.38 %
  • ROE: 10.60 %
  • Sales Growth (3Yrs): 8.40 %

Bonus Share Issue History

Bonus History (Ceat)

DateBonus Ratio
04-01-19871:2
07-10-19861:2
04-01-19801:1
04-01-19761:7
04-01-19731:6
04-01-19691:10

CEAT Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales2,8176,7799.18%
Profit1642313.48%
Share Price145.16921.9520.30%

#5. Goodyear India Ltd

Goodyear India Ltd is the 5th largest tyre manufacturing company in India with a market cap of  1,819 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1922
Chairman & Managing DirectorRajeev Anand

Goodyear India Ltd is a leading player in the India farm tyre market. Its major strength is that Goodyear is a strong global brand in a category dominated by local players.

Business Segments

The Company manufactures automotive bias tyres viz. farm tyres and commercial truck tyres. The other products that the company sells include tubes and flaps.

Goodyear India Ltd Revenue Break Up

Current Year Financial Data

  • Market Cap:  1,819 Cr.
  • Current Price:  788.65
  • 52 weeks High / Low  1186.80 / 531.25
  • Book Value:  397.00
  • Stock P/E: 20.53
  • Dividend Yield: 1.65 %
  • ROCE: 19.31 %
  • ROE: 12.23 %
  • Sales Growth (3Yrs): 3.38 %

Bonus Share Issue History

Bonus History (Goodyear India)

DateBonus Ratio
06-08-19901:1
03-08-19772:5
03-08-19731:1

Goodyear India Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales1,2721,7463.22%
Profit75891.73%
Share Price283.88788.6510.76%

#6. JK Tyre & Industries Ltd

JK Tyre & Industries Ltd is the 6th largest tyre company in India with a market cap of 1,584 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1951
Chairman & MDDR. RAGHUPATI SINGHANIA

 

JK Tyre, part of the JK Organisation, is among India’s leading tyre manufacturers and among the top 25 tyre manufacturers in the world.

  • The Company pioneered the radial technology in India in the Seventies and has since helped grow the radial market through technological innovation and new product introduction
  • The Company is the market leader in the Truck/ Bus Radial (TBR) segment, in addition to offering tyres for the entire range of passenger and commercial vehicles.
  • The Company was the only tyre manufacturer in India to be included in the list of Superbrands in 2019 for the seventh time in a row.

JK Tyre’s manufacturing operations comprise 12 state-of-the-art manufacturing facilities. The Company has nine modern plants in India (three plants in Mysore, three plants in Haridwar and one plant each in Benmore, Kankroli, and Chennai) and three plants in Mexico – with an overall production capacity of ~32 million tyres per annum.

JK Tyre & Industries Ltd Revenue Break Up

Current Year Financial Data

  • Market Cap:  1,584 Cr.
  • Current Price:  64.35
  • 52 weeks High / Low  87.70 / 31.50
  • Book Value:  94.68
  • Stock P/E: 7.37
  • Dividend Yield: 2.33 %
  • ROCE: 10.52 %
  • ROE: 9.40 %
  • Sales Growth (3Yrs): 14.55 %

JK Tyre & Industries Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales4,4308,7257.01%
Profit224151-3.87%
Share Price36.8664.355.73%

#7. TVS Srichakra Ltd

TVS Srichakra Ltd is the 7th largest tyre company in India with a market cap of 1,093 Cr. in 2020

IndustryAuto Tyres & Rubber Products
Founded1982
MDShobhana Ramachandhran

TVS Srichakra is one of the leading domestic manufacturers of two- and three-wheeler bias tyres and has emerged as the largest supplier to all established domestic automobile OEMs including Bajaj Auto Ltd, Hero MotoCorp Ltd, Honda Motorcycle & Scooter India Ltd, Suzuki Motorcycles India Ltd, TVS Motor Co. Ltd and Yamaha Motor.

  • The company has strengthened its presence in the domestic two-wheeler bias tyres aftermarket segment, where it is the third-largest player supported by its network of over 3000 dealers and a healthy product range.
  • The company also has a contract manufacturing agreement with French tyre major, Michelin, to make two-wheeler bias tyres under the Michelin brand, for the aftermarket
  • Exports, through the ‘TVS Eurogrip’ brand are mainly to European, North American, African, and Middle East countries, and include supplies of off-the-road tyres for agricultural, mining, and industrial use.

Current Year Financial Data

  • Market Cap:  1,093 Cr.
  • Current Price:  1,428
  • 52 weeks High / Low  2059.65 / 758.00
  • Book Value:  972.87
  • Stock P/E: 13.28
  • Dividend Yield: 2.80 %
  • ROCE: 18.11 %
  • ROE: 15.06 %
  • Sales Growth (3Yrs): 3.63 %

TVS Srichakra Ltd Performance in last 10 Years

Year20102020CAGR 
Growth(%)
Sales7012,05211.34%
Profit308410.84%
Share Price231.641,42819.95%

Snapshot of All Tyre Company listed in India

S.No.NamePrice (Rs.)P/EMar Cap Rs.(Cr. )Div Yld %ROCE %
1MRF66140.2519.7128043.470.0913.68
2Balkrishna Inds1314.126.4725403.811.5222.08
3Apollo Tyres114.2513.726535.672.848.74
4CEAT921.9514.963729.31.313.38
5Goodyear India788.6520.531819.421.6519.31
6JK Tyre & Indust64.357.371584.52.3310.52
7TVS Srichakra1427.513.281093.472.818.11
8Birla Tyres48.1685.860
9Modi Rubber30.8577.2501.6
10Dolfin Rubbers49.7519.6937.42021.29
11Krypton Industri9.3518.3213.7406.36
12Innovative Tyres7.111.312.7702.02
13Govind Rubber3.387.380-13.69

Note : All Data taken from screener.in

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