Top 7 Best Tyre Companies in India 2023

Here we can see the List of Top tyre Companies in India 2023 before that take a look at Tyre Industry. The Top eleven tyre companies’ account for more than 90% of the volume.

Replacement market accounts for approximately 56% of the Industry with Institutional/OEM and Exports making up the balance 44% respectively. India’s passenger car category is fully radicalized. Radicalization in the T&B category which stood at around 40% in the financial year 2018. Further, it is expected to grow further and reach levels of 45-50% by the financial year 2023.

List of Top Tyre Manufacturing Companies in India

Now here is the List of top tyre manufacturing companies in India in the year 2020

1. MRF Ltd

MRF Limited is the Largest Tyre Company in India in terms of total sales in India. MRF’s origin traces back to the humble shack in Madras that housed its first makeshift toy balloon manufacturing unit set up by KM Mammen Mappillai in 1946.

• Sales₹ 23,753 Cr.
• Operating profit₹ 3,026 Cr.
• Net profit₹ 1,234 Cr.
• Sales last year₹ 23,008 Cr.
• EBIDT last year₹ 2,552 Cr.

It was not until 1952 when it changed course and turned to tread rubber manufacturing. Thus began its glorious reign as the undisputed leader in the tyre making industry. It is the best tyre company in India in terms of Quality.

• Total Assets₹ 24,369 Cr.
• Reserves₹ 14,703 Cr.
• Debt₹ 3,014 Cr.
• Debt to equity0.20
• Dividend yield0.16 %
• Face value₹ 10.0
• ROE 5Yr8.09 %
• ROCE7.43 %
• ROCE 3Yr9.03 %
• Return on equity4.87 %

By the early 60’s, MRF was exporting its quality tyres to offices overseas in multiple countries and soon its presence was known globally in 65 different countries – with tyres rolling out of 8 facilities built across 450 acres, 4000 plus strong dealer networks and 180 different offices

2. Apollo Tyres Ltd

Apollo Tyres Ltd. came into inception in 1972 and has since been a trusted name in the business of manufacture and sale of tyres. With corporate headquarters in Gurgaon, India, cater to over 100 countries across the globe.

• Sales₹ 24,871 Cr.
• Operating profit₹ 3,675 Cr.
• Net profit₹ 1,311 Cr.
• Sales last year₹ 24,568 Cr.
• EBIDT last year₹ 3,365 Cr.

It is one of the best tyre company in India in terms of Value. The company markets its products under two global brands:

• Apollo and
• Vredestein.

These products are available in countries across the globe through a vast network of branded, exclusive and multi-product outlets. Apollo Tyres has multiple manufacturing units in India, the Netherlands and Hungary.

• Total Assets₹ 27,287 Cr.
• Reserves₹ 12,814 Cr.
• Debt₹ 6,421 Cr.
• Debt to equity0.50
• Dividend yield1.05 %
• Face value₹ 1.00
• ROE 5Yr6.85 %
• ROCE10.2 %
• ROCE 3Yr8.78 %
• Return on equity8.77 %

At the end of the financial year 2019, the company clocked a turnover of US$ 2.48 billion, backed by a global workforce of approximately 17,200 employees. The company is 2nd best tyre company in India.

3. JK Tyre & Industries Ltd

JK Tyre & Industries Ltd is a leading tyre manufacturer in India and amongst the top 25 manufacturers in the worldwide. JK Tyre has a global presence in 100 countries across six continents, backed by production support from 12 plants – 9 in India and 3 in Mexico.

• Sales₹ 14,720 Cr.
• Operating profit₹ 1,470 Cr.
• Net profit₹ 387 Cr.
• Sales last year₹ 14,645 Cr.
• EBIDT last year₹ 1,328 Cr.

Currently, the capacity across all its plants is about 35 million tyres per annum. In April 2016, JK Tyre acquired Cavendish India Limited from Birla Tyres. JK Tyre offers tyre for the entire range of passenger and commercial vehicles, starting from a 3 kg two-wheeler tyre to a 3.5 ton OTR tyre.

• Total Assets₹ 12,339 Cr.
• Reserves₹ 3,347 Cr.
• Debt₹ 4,882 Cr.
• Debt to equity1.44
• Dividend yield0.71 %
• Face value₹ 2.00
• ROE 5Yr9.89 %
• ROCE11.1 %
• ROCE 3Yr10.9 %
• Return on equity9.49 %

JK Tyre & Industries Ltd has a strong network of 4000 dealers and over 500 dedicated Brand shops called Steel Wheels and Xpress Wheels providing complete solutions to its customers. The company is the list of best quality tyre brands in India

Read More About

Top Automobile Companies in India

4. CEAT Ltd

Mumbai head-quartered CEAT, the flagship company RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has a strong presence in global markets.

• Sales₹ 11,432 Cr.
• Operating profit₹ 1,196 Cr.
• Net profit₹ 318 Cr.
• Sales last year₹ 11,315 Cr.
• EBIDT last year₹ 998 Cr.

CEAT produces over 15 million tyres a year and offers the widest range of tyres to all segments and manufactures world-class radials for heavy-duty trucks and buses, light commercial vehicles, earthmovers, forklifts, tractors, trailers, cars, motorcycles and scooters as well as auto-rickshaws.

• Total Assets₹ 9,627 Cr.
• Reserves₹ 3,399 Cr.
• Debt₹ 2,295 Cr.
• Debt to equity0.67
• Dividend yield0.56 %
• Face value₹ 10.0
• ROE 5Yr8.45 %
• ROCE9.38 %
• ROCE 3Yr9.98 %
• Return on equity6.14 %

5. Balkrishna Industries Ltd

Headquartered in Mumbai, India, Balkrishna Industries Limited (BKT) is a leading manufacturer in the Off-Highway tire market. The Company is among the list of best quality tyre brands in India.

• Sales₹ 9,299 Cr.
• Operating profit₹ 1,676 Cr.
• Net profit₹ 1,082 Cr.
• Sales last year₹ 9,760 Cr.
• EBIDT last year₹ 1,975 Cr.

Since its founding in 1987, BKT has successfully focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications. As a result, BKT has developed into a global player in the Off-Highway tire industry with a 6% market share.

• Total Assets₹ 12,348 Cr.
• Reserves₹ 7,518 Cr.
• Debt₹ 3,347 Cr.
• Debt to equity0.44
• Dividend yield0.62 %
• Face value₹ 2.00
• ROE 5Yr18.1 %
• ROCE13.8 %
• ROCE 3Yr20.5 %
• Return on equity13.8 %

Presently, have four subsidiaries in Europe and North America assisting our head office in sales and marketing activities: BKT Europe S.r.l. in Seregno, Italy, BKT Tires USA Inc. in Akron, Ohio, BKT Tires Canada Inc. in Toronto, and BKT Tires, Inc. in Brentwood, Tennessee.

Products in 130 countries worldwide through a network of national distributors. The Company have production sites in Aurangabad, Bhiwadi, Chopanki, Dombivali and Bhuj employ more than 7,000 people.

6. TVS Srichakra Ltd

• Sales₹ 2,950 Cr.
• Operating profit₹ 258 Cr.
• Net profit₹ 101 Cr.
• Sales last year₹ 2,985 Cr.
• EBIDT last year₹ 243 Cr.

TVS Srichakra Ltd, one of India’s leading two & three-wheeler tyre manufacturers. Being a part of TVS Auto Ancillary Group (Turn over of USD 6.0 billion) founded by T.V. Sundaram Iyengar, continue to honour the value system and the rich heritage of parent company. It is among the Best Tyre Companies in India.

• Total Assets₹ 2,453 Cr.
• Reserves₹ 1,027 Cr.
• Debt₹ 662 Cr.
• Debt to equity0.64
• Dividend yield0.92 %
• Face value₹ 10.0
• ROE 5Yr9.41 %
• ROCE9.23 %
• ROCE 3Yr9.65 %
• Return on equity8.16 %

With state-of-the-art manufacturing units at Madurai (Tamil Nadu) and Rudrapur (Uttrakhand), spread over 2.9 lakh sq. meters. The Company manufacture a prolific range of tyres: * Two & Three-wheeler tyres * Industrial pneumatic tyres * Farm and implement tyres * Skid steer tyres * Multipurpose tyres * Floatation tyres.

7. Goodyear India Ltd

Goodyear is one of the world’s largest tyre companies. It employs about 64,000 people and manufactures its products in 47 facilities in 21 countries around the world. The company is 7th in the list of top 10 tyre companies in India.

• Sales₹ 2,828 Cr.
• Operating profit₹ 211 Cr.
• Net profit₹ 124 Cr.
• Sales last year₹ 2,928 Cr.
• EBIDT last year₹ 223 Cr.

Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. The company is seventh in the list of Top tyre manufacturers in India

• Total Assets₹ 1,261 Cr.
• Reserves₹ 583 Cr.
• Debt₹ 9.51 Cr.
• Debt to equity0.02
• Dividend yield2.01 %
• Face value₹ 10.0
• ROE 5Yr13.7 %
• ROCE25.1 %
• ROCE 3Yr21.3 %
• Return on equity18.6 %

Goodyear’s winged-foot trademark was inspired by a newel-post statuette of the Roman god Mercury in the home of Goodyear founder Frank Seiberling. Seiberling felt Mercury embodied many of the characteristics for which Goodyear products were known.