Total income for the January-March 2021 quarter increased by 50 percent YoY to a total of INR 574 crore due to the robust farm demand and the efforts made by the company to expand its distribution initiatives in the consumer replacement business.

Goodyear India recorded a 53 percent increase in PAT to INR1.36 billion for FY21 as against INR890 million in FY20, the highest in the company’s history. The company’s total income has also spiked by two percent to a total of INR18.14 billion y-o-y despite the COVID-19 impact.

Sandeep Mahajan, Chairman and Managing Director, GIL, said, “We benefitted from our ongoing enhancement of our consumer replacement distribution network, particularly in rural markets where we are creating synergies with our farm business. Our distribution initiatives are strengthening our position in the market and helping us build a sustainable business. Our results also reflect increasing momentum in the Farm Segment driven by a resurgence in rural demand and our excellent products and customer service. While we expect to continue advancing our strategic priorities in fiscal 2022, safeguarding our associates and helping our communities overcome Covid remain our top priorities.”

JK Tyres Q4 revenue up by 63%

JK Tyre’s consolidated revenues for Q4FY21 rose 63 percent to INR 29.45 billion compared to INR 18.3 billion in Q4FY20. EBITDA surged 119 percent reaching INR 4.72 billion with margin expansion of 400 bps.

Raghupati Singhania, Chairman and Managing Director, JK Tyre, said, “The year began with India in lockdown due to Covid-19 pandemic and the economy grinding to a halt with Q1FY21 almost a washout. The economy started opening gradually from mid-May. As a result of several initiatives taken, JK Tyre recovered fast and achieved highest sales in Q3FY21 and Q4FY21 increasing its market presence.”

“With high-capacity utilisation, control on costs and reduced working capital, special focus on customer outreach and premium products offering, profitability improved significantly. Similarly, JK Tyre subsidiaries – Cavendish Industries and JK Tornel also added to a substantial overall improvement in the profitability of the company,” he added.

The company has shown multi-fold growth in PBT and PAT on a y-o-y basis as it stood at INR 2.81 billion and INR 1.95 billion,respectively, in Q4FY21.

Singhania further said, “JK Tyre is fully geared to face challenges emanating from rising raw material prices and prevailing lockdowns under the second wave of the novel virus.Despite these headwinds, the company expects to continue capturing opportunities that are arising in this new environment in India and abroad.”

Apollo Tyres reports profit increase

Apollo Tyres managed to report a growth in sales and net profit in FY21 despite several challenges. The company’s net profit for the quarter ended March 31, 2021 surged to INR 2.89 billion from INR 789 million in the same quarter of the previous fiscal. Net profit for FY21 rose to INR 9.85 billion from INR 4.76 billion in FY20.

Consolidated revenues in Q4FY21 surged 39 percent to INR 50.26 billion y-o-y on the ‘robust’ performance in all segments in the local market. In FY21, revenue grew by six percent to INR 174 billion from INR 163.5 billion in FY20.

Indian operations continued with robust performance in all segments of the market and reported an increase of 49 percent in its Q4 revenue (from operations) to close at INR 36.3 billion. Similarly, European Operations’ revenue, including Reifen, was up 20 percent in Q4 to close at INR 14.04 billion, whereas for the full year, it increased eight percent to close at INR 56.75 billion.

Onkar Kanwar, Chairman, Apollo Tyres Ltd, said, “What started as an extremely challenging year, with lockdowns across geographies, ended on a very healthy note for us with robust revenue growth across market segments and geographies. Ensuring business continuity along with the safety of our employees have been of paramount importance throughout this pandemic, and considering the current situation, especially in India, we cannot let our guard down. The year ahead is full of challenges, with demand getting impacted due to the lockdowns, and pressure on margin front, due to the rising raw material prices.” (TT)

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The Yokohama Rubber Co., Ltd. has been selected as the official tyre supplier for the groundbreaking FIA Extreme H World Cup, the world's first hydrogen-powered motorsport series. The company will supply its GEOLANDAR brand of tyres for the championship, which is scheduled to commence next month in Saudi Arabia. The company will also continue to supply GEOLANDAR tyres for the Extreme E off-road electric vehicle series, which holds its final event on 4–5 October in Saudi Arabia.

Central to both the Extreme H and Extreme E series is a shared mission to advance sustainability and equality. The championships serve as dynamic platforms to promote environmental awareness and demonstrate cutting-edge technologies while also enforcing a strict mandate for gender parity by requiring each team to field one male and one female driver. The Extreme H series will feature eight international teams operating the Pioneer 25, a cutting-edge hydrogen fuel cell vehicle capable of generating 550 horsepower and accelerating from 0 to 100 kmph in 4.5 seconds. The global significance of this new championship is expected to draw a worldwide television audience across multiple continents.

As the predecessor to Extreme H, the Extreme E series utilised the high-performance all-electric Odyssey 21 vehicle. All teams competing in the new hydrogen series will also participate in this final Extreme E event, marking the conclusion of the electric championship as it transitions towards a hydrogen future.

In alignment with the environmental principles of these series, Yokohama Rubber will provide a specially developed prototype tyre based on its GEOLANDAR X-AT model. This tyre has been engineered with a significantly increased ratio of sustainable materials, comprising 38 percent renewable and recycled content. It has also been fortified with enhanced durability characteristics to withstand the unique demands of heavy hydrogen-powered and electric off-road racing vehicles.

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Hankook Tire is advancing its future mobility leadership through strategic open innovation and collaborative design projects. This effort was showcased at the company’s recent Design Innovation Day 2025, held at its Pangyo Technoplex headquarters. The event serves as a platform to present new solutions integrating sustainability, innovation and design while reinforcing partnerships with global technology leaders.

A major focus was the unveiling of two key outcomes from Hankook’s ongoing Design Innovation Project. The first was ‘Sustainable Concept Tyre’, an embodiment of the company’s ESG vision. Developed using advanced 3D printing technology, it is constructed from renewable and recycled materials. Its distinctive organic design was realised in collaboration with Harvestance using specialised engineering software.

The second reveal was the WheelBot 2, a multi-directional mobility platform developed with robotics startup CALMANTECH. This advanced robotic wheel system, equipped with tri-axial spherical tyres, demonstrates new possibilities for movement. Its potential was illustrated through a live demonstration of the PathCruizer, a two-seater pod concept powered by the WheelBot technology.

Beyond product reveals, the event highlighted Hankook’s commitment to knowledge sharing, featuring a presentation on 3D printing advancements from LG Electronics. These collaborations are central to Hankook’s strategy of strengthening its technology leadership. Since 2012, the company has partnered with world-renowned design universities and technology firms, consistently earning prestigious international design awards and solidifying the premium stature of its global brand.

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Indian tyre maker to pass full benefit of tax cuts to customers from 22 September

CEAT Limited said on Thursday it would reduce prices across its entire tyre range following the Indian government’s decision to cut goods and services tax (GST) rates on tyres, with the full benefit being passed on to customers.

The Mumbai-based tyre manufacturer said new prices would take effect from 22 September, covering commercial, agricultural, passenger vehicle and two-wheeler segments.

India’s 56th GST Council meeting approved significant reductions in tax rates for the tyre industry. GST on new pneumatic tyres was cut to 18% from 28%, whilst tractor tyres and tubes will attract a reduced rate of 5%.

“We thank the Government of India and the GST Council for their timely and progressive decision to rationalise tax rates in the tyre sector,” said Arnab Banerjee, Managing Director & CEO of CEAT Limited.

“The reduced GST slabs will greatly benefit the tyre industry and consumers alike. Not only will it lower the cost of owning and operating a vehicle for customers across various segments, but by making tyres more affordable to replace, it will also make our roads safer.”

Banerjee added the move would “spur formalisation and greater compliance, while also fostering sustainable growth in the sector.”

The GST rate cuts represent a significant policy shift for India’s automotive sector, where high taxation has been a longstanding concern for manufacturers and consumers.

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The Yokohama Rubber Co., Ltd. has been officially recognised as a DX Certified Business Operator by Japan's Ministry of Economy, Trade and Industry (METI). The designation, which was granted on 1 September 2025, identifies companies that are thoroughly prepared for digital transformation as outlined by the Digital Governance Code.

This certification acknowledges Yokohama Rubber's comprehensive strategy for digital transformation, which is built on three core objectives: advancing business strategy, contributing to sustainability and reinforcing its IT infrastructure. Central to this effort is the company's proprietary AI framework, HAICoLab (Humans and AI ColLaborate), which drives group-wide digital initiatives. These include improving productivity, innovating processes, developing digital talent and building a global cloud-based IT system. The certification confirms that the company's efforts not only meet METI's stringent criteria but also demonstrate appropriate disclosure of information to its stakeholders.

Moving forward, the company said it will continue to leverage data from its entire value chain to adapt to a dynamic business environment. The company aims to enhance customer value, pursue sustainable innovation and transform its corporate culture to strengthen its competitive position and ensure long-term growth.

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