The Indian Tyre Industry is an important industry that comprises of many domestic as wells as multinational companies. The tire is an important part of any type of vehicle, which should be of premier quality to have a safe and pleasant drive every time. The tyre is not only related to fuel efficiency, but also with the stability and safety of the vehicle.
The tire is mainly of two types: Tube Tyre and Tubeless Tyre. Tubeless Tyre has an extra edge over traditional tire with a tube in terms of fuel efficiency and stability of the vehicle. There are many small and big tire companies in India that provide tires of premier quality at optimum prices.
The Indian Tyre Industry is growing swiftly and produces more than 9 Crore Tyres every year. Among all types of tire, the maximum share is of passenger cars and vehicles in the total tire production in the country. This post describes the Top 10 Largest Tyre Manufacturing Companies in India:
10. Modi Rubber Limited
10th position on this list is occupied by Modi Rubber Limited, an India Tyre Manufacturing Company known for manufacturing high-quality tires. The company is growing swiftly and in the last financial year, its total revenue crossed the mark of Rs 22 Crore.
Market Capitalization: Rs 76 Crore
9. Dunlop India
Next on this list is Dunlop India, a tyre company in India owned by Ruia Group. The history of Dunlop India dates back to the year 1896 when the company started marketing cycle tyres.
Dunlop India is presently a reliable tyre brand in India and holds a decent share of this segment in the country. The company manufactures different types of tyre, that include Farm Tyres, Motorcycle Tyres, Bus Tyres, Truck Tyres, etc.
Market Capitalization: Rs 148 Crore
8. PTL Enterprises
With a market capitalization of Rs 284 Crore, PTL Enterprises is the next tyre company in this list. Headquartered in Gurgaon, PTL Enterprises was established in the year 1959 and started production in 1962.
Market Capitalization: Rs 284 Crore
Goodyear with a market capitalization of Rs 1,425 Crore is ranked 7th in the list of top 10 best tire manufacturing companies in India. Goodyear is an American Tyre Manufacturing Company, which was incorporated in the year 1898.
Goodyear made debut in India in the year 1922 and presently stands among leading tires companies in India. The company is known for making quality tires for different types of vehicle like cars, farm equipment, commercial vehicles, etc.
Market Capitalization: Rs 1,425 Crore
6. TVS Srichakra
TVS Srichakra is next on this list, which is a part of TVS Group and came into existence in the year 1982 and within a few decades has emerged as a top tire company in India. The company manufactures tires of different types that include motorcycle tires, industrial tires, farm tires, etc.
Market Capitalization: Rs 2,042 Crore
5. J K Tyre
JK Tyre with a market capitalization of Rs 2,631 Crore is placed at 5th position in the list of top 10 best tire manufacturing companies in India. Established in the year 1974, J K is among the top tire companies in India and has 6 manufacturing plants in the country.
Winner of multiple awards, J K Tyre is known for providing high-quality tires for different vehicles that include cars, commercial vehicles, farm vehicles, and off-road vehicles.
Market Capitalization: Rs 2,631 Crore
4th position of the list is occupied by Ceat, a leading tyre company in India, which was incorporated in the year 1958. Ceat is a part of RPG Group that has businesses in different sectors like Informational Technology, Pharmaceuticals, Engineering, Construction, etc.
Headquartered in Mumbai, Ceat has manufacturing sites in different places in the country that together produces more than 95,000 tyres every day. Ceat makes tyres for different vehicles that include Motorcycles, Commercial Vehicles, Tractors, etc.
Talking about performance, Ceat in the last financial year shown a decent growth and generated revenue of more than Rs 5,700 Crore. Ceat also has a strong network in India with more than 3,500 dealers and over 250 distributors, that cover more than 460 districts of the country.
Market Capitalization: Rs 3,571 Crore
3. Balkrishna Industries Limited (BKT)
Balkrishna Industries Limited (BKT) is another leading tyre company, which was established in the year 1987. The company manufacture tyres for heavy vehicles, that include industrial vehicles and agricultural vehicles.
The company has 5 manufacturing sites in India that employ more than 6,000 people. The company is known for making high-quality tyres, which is exported to more than 100 countries in the world.
Market Capitalization: Rs 6,557 Crore
2. Apollo Tyres
Apollo Tyres with a market capitalization of Rs 10,521 Crore stands at 2nd in the list of top 10 best tyre manufacturing companies in India. Incorporated in the year 1972, Apollo Tyres has grown into a leading tyre company and also stand among the largest tyre companies in the world.
With manufacturing facilities in India and The Netherland, Apollo Tyres makes high-quality tyres and sells them in more than 100 countries in the world. Apollo Tyres in the financial year 2014-2015 generated revenue of more than Rs 13,700 Crore from sales.
Market Capitalization: Rs 10,521 Crore
Among all tyre companies in India, MRF stands at the first position with a market capitalization of Rs 16,744 Crore. MRF is a leading tyre manufacturing company, which was incorporated in the year 1946.
MRF is acclaimed worldwide for its high-quality tyres, conveyor belts, retreads and other products. ZVTS, Wanderer, ZVTV, ZEC, and ZLX are some of the variants of tyre manufactured by the company.
Talking about the performance of MRF in the last financial year, the company generated revenue of more than Rs 14,600 Crore from sales. Also, the profit generated by the company crossed the mark of Rs 1,330 Crore.
Market Capitalization: Rs 16,744 Crore