Tyre Sector: Q3 ( Oct – Dec ’16 ) Numbers and Analysis
Q3 was disappointing for the Tyre sector.
Increasing natural rubber price and Demonetisation has played a crucial role in the show.
As far as numbers are concern, the profits of the companies were down in the range of 20% to 30%, while revenues were up marginally in the range between 2% to 5%.
Market leader MRF has posted decline both in profits as well revenues, while Ceat and JK tyres a posted decline in profits and marginally increment in profits.
The star performer in the sector for the quarter ended 31 December 2016 was “Balkrishna Industries” where the company showed 94% growth in profit and 24% growth in Revenue as compared to same period last year.
Here is the data:
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