Tyre manufacturing industry is a key component of the auto sector. Currently there are 39 companies producing tyres with a combined annual turnover of Rs 53,000 crores and exports worth Rs 10,500 crores. It produces a wide variety of tyres ranging from 1.5 kg tyres used in Mopeds to giant 1.5 ton tyres used in Giant Earthmovers. These are used not just in passenger vehicles and commercial vehicles but fighter aircrafts of India Air Force as well. The top tyre brands include MRF, Apollo Tyres, Balkrishna, JK Tyre, Ceat & TVS Tyres along with companies like Goodyear, PTL Enterprises, Dunlop and Govind Rubber. Here is the list of the top 10 tyre companies in India 2016.
10. Govind Rubber Limited (GRL)
Established in 1964 by Late Mr. M.P.Poddar, this tyre manufacturer is headquartered in Mumbai.
Image: company website
It is a part of the USD 500 million Siyaram Poddar Group, famous as the manufacturer of Siyaram’s suiting and shirting brand. It manufactures tyres and tubes mainly for bicycle and auto to renowned Indian bicycle manufacturers such as Avon, Hero, and Atlas, and is a leading player in the segment.
It is ISO 9001:2008 certifies and exports mainly to the European markets. Revenues from the export markets constituted approximately one-quarter of its total revenue.
Other companies in the group include GRL Tires Private Limited that will be used to develop and sell specialty tyres for agricultural, mining and industrial tyres. It has also entered into a jpin venture with a South Korean company to manufacture highly specialized rubber used in the rubber industry. It also established Laxmi Cement Udyog Private Limited to enter into the infrastructure business in Nepal. It even has a entertainment and media wing, PY Films Private Limited that is involved in film making and ad making.
Market Capitalization: Rs 35.82cr
Net Sales: 338.71 cr
Profit: Rs 0.35 Cr
Monthly Production: 3 million pieces (tires)/ 3.6 million (tubes)