Tyre Sector: Q1 ( Apr – Jun ’17 ) Numbers and Analysis
Q1 was a challenging rather disappointing quarter for almost all the tyre manufacturers due to the GST impact and peak RM prices. Both these factors have hit tyre companies top-line and bottom-line badly.
As far as numbers are concern, the profits of the companies were down in the range of 46% to 99%, while revenues were up marginally in the range between 2% to 7%.
Market leader MRF has posted a decline in profits (drops by as many as 63% compared to previous quarter) while revenues (up 7% in comparison with last quarter), while Apollotyre and Ceat posted a huge decline in profits.
Star Performer in the Sector:
The star performer in the sector for the quarter ended 30 June 2017 was “Balkrishna Industries” where the company showed 11.78% growth in profit and 3.76% growth in Revenue as compared to previous quarter.
Here is the Data:
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