Goodyear India Ltd has reported a five per cent increase in its total revenue at INR 603 crore in the fourth quarter, compared to the revenue for the same quarter last year. The company said in a statement that the gross margin was negatively impacted by higher cost of goods sold due to increased raw material prices across all categories. Other expenses were impacted by a steep rise in fuel prices, it said.
It posted a profit after tax (PAT) of Rs 17 crore in the fourth quarter, a decrease of 60 per cent compared to profit of Rs 43 crore for the same quarter last year. The PAT as a percentage of revenue was 2.9 per cent, down from 7.5 per cent in the same period last year, it said.
Sandeep Mahajan, Chairman & Managing Director of Goodyear India Ltd, said, “The overall business environment remains challenging. We’re focused on offsetting high inflation with pricing and cost actions, expanding our distribution, and capturing opportunities for driving profitable growth. Despite the demand impact from the most recent Omicron wave, our consumer replacement business continues to perform well with steady year-over-year growth, leveraging the strength of the Goodyear brand and our industry-leading products. While our value proposition for farm tyres also remains strong, demand was impacted in the quarter.”
The company said its total revenue for the financial year 2021-22 was at INR 2,459 crore, a 36 per cent increase from last year.
The profit after tax was at INR 103 crore in FY 2021-22, a decrease of 24 per cent when compared with profit of INR 136 crore a year ago. The company said the gains from higher volume and pricing were offset by increased raw material cost across all categories and a steep rise in fuel prices.
As of March 31, 2022, the company had cash and bank balance of INR 390 crore. In comparison, it had INR 597 crore cash as of March 31, 2021. During the year, the company had declared a special dividend of INR 80 per share in August 2021 related to FY 2020-21, resulting in outflow of INR 185 crore.
The board has recommended a total dividend of INR 100 per equity share of INR 10 each (final dividend of INR 20 per share and a special dividend of INR 80 per share) for the financial year 2021-2022 subject to the approval of the members at the ensuing Annual General Meeting, the release added. (TT)
Webfleet Receives Three European Fleet Awards
- By TT News
- July 09, 2025
Webfleet, Bridgestone’s globally trusted fleet management solution, has earned three prestigious awards across Europe this month. In Germany, its AI-powered tool Fleet Advisor was recognised as the ‘Rising Star’ at the Baugewerbe Produkt des Jahres 2025 awards. Meanwhile, in Poland, Fleet Advisor – which leverages generative AI to deliver swift, insightful answers to critical fleet-related queries – secured the ‘Fleet Derby 2025’ award in the Digital/AI Innovation in Management category.
Additionally, in Spain, Webfleet received the ‘Award for Excellence in the Road Transport Industry’ from Cadena de Suministro, a leading logistics publication, honouring its 25-year legacy of innovation and transformative contributions to the mobility sector. These accolades highlight Webfleet’s continued leadership and technological advancement in fleet management.
Jan-Maarten de Vries, President of Fleet Management Solutions at Bridgestone, said, “Together, these awards highlight the strength of Webfleet’s dual commitment to cutting-edge innovation and customer-driven progress.”
Passenger Vehicle Forum To Be Held On 2nd September In Pune
- By TT News
- July 09, 2025
The 3rd Edition of the Passenger Vehicle Forum (PVF), a leading forum focussing on the passenger vehicle segment, is scheduled to take place on 3 September 2025, at Hyatt Regency, Pune.
This 2025 edition of PVF will focus on a wide area of topics such as – software-defined vehicles (SDVs) and E/E architecture transformation, electrification, hybridisation & future powertrains, connected, autonomous & smart mobility technologies, sustainability, alternative fuel, customer behaviour, retail transformation and aftermarket innovation.
The idea is to understand the present and future trends reshaping the passenger vehicle industry.
The event is expected to bring together over 300 senior decision-makers, more than 60 speakers and over 40 solution providers to debate, discuss and plan the way forward.
Since its debut, the Passenger Vehicle Forum is amongst one of the key platforms that brings together various stakeholders – OEMs, auto component manufacturers, mobility providers and policy influencers, all under one roof.
Linglong Tire Gets Recognition By HKUST, Harvard Business Review And Deloitte China
- By TT News
- July 09, 2025
Chinese tyre major Linglong Tire was recently recognised as one of the Best Managed Companies in China in an event joint held by Deloitte China, the Hong Kong University of Science and Technology (HKUST) Business School and the Harvard Business Review.
The tyre maker was recognised for its capabilities in the areas of strategic leadership, operational efficiency, integrated management and sustainable growth at the annual event.
Linglong Tire stated that the Best Managed Companies program is a globally recognised initiative under the guidance of Deloitte is said to be the only international award in China for the comprehensive evaluation of enterprise management systems.
The award in its 7th year saw potential companies evaluated on the bases of complex management questions, executive interviews and neutral expert assessments based on Deloitte’s global program. The companies were assessed on four criteria – strategy, expertise, commitment and financial strength.
- Hankook Tire
- Hankook Tire Hungary
- Hankook Tyres
- Key Supporter of Saint Pantaleon Hospital
- Semmelweis Day
Hankook Tire Hungary Honoured With ‘Key Supporter Of Saint Pantaleon Hospital’ Award
- By TT News
- July 09, 2025
Hankook Tire Hungary Ltd received the ‘Key Supporter of Saint Pantaleon Hospital’ award during the hospital's Semmelweis Day ceremony in Dunaújváros, Hungary. This recognition highlights the company's longstanding commitment to enhancing local healthcare quality through consistent contributions.
Marking a new tradition, this year's ceremony expanded beyond honouring healthcare workers to acknowledge institutional supporters. Hankook earned this distinction through multiple initiatives, including recent equipment donations for the paediatric ward and installation of a nurse call system in the surgical department. The company's support extends to previous years' projects such as ventilator procurement, maternity ward renovations, and pandemic-related protective equipment donations.
The award coincides with Hungary's annual Healthcare Day celebrations on 1 July, which since 1992 has honoured medical professionals nationwide. By recognising Hankook's sustained community involvement, Saint Pantaleon Hospital underscores the vital role of corporate partnerships in maintaining quality healthcare services.
Dr Örs Szilágyi, Director General of the Saint Pantaleon Hospital, said, “We are very grateful for the help and commitment of Hankook Tire Hungary. We are working together for a joint goal to improve continuously the standard of healthcare and thus create value for local citizen, help them in maintaining their health and in getting better. Hankook’s Corporate Social Responsibility sets an example to all. We are happy to award Hankook Tire Hungary Ltd as the first company with the ’Key Supporter of Saint Pantateon Hospital’ award.
Receiving the award from Dr Szilágyi on behalf of the company, Ho Taek Lim, Managing Director of Hankook Tire's Hungary Plant, said, “We are honoured to receive this recognition from Saint Pantaleon Hospital. At Hankook, we believe in long-term partnerships and consider the health of the people living here, our employees and their families to be our most important investment, which is why we intend to continue supporting local initiatives and institutions in the future.”
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