Auto Tyres & Rubber Products company Goodyear India announced Q3FY26 results Revenue: Rs 60,691 lakh against Rs 63,172 lakh during Q3FY25, change -4%. PBT: Rs 3,335 lakh against Rs 1,327 lakh during Q3FY25, change 151%. PAT: Rs 2,463 lakh against Rs 948 lakh during Q3FY25, change 160%. EPS: Rs 10.68 for Q3FY26. Result PDF
Auto Tyres & Rubber Products company Goodyear India announced Q2FY25 results Financial Highlights: The company’s second quarter revenue was Rs 687 crore, lower by 1% from a year ago. Second quarter profit before tax (PBT) was Rs 21 crore compared to Rs 51 crore in the prior year. YoY profit was lower due to reduction in volume, raw material inflation and EPR. GIL’s total income for the H1FY25 were Rs 1,382 crore, lower by 3% from H1FY24. H1FY25, profit before tax was Rs 55 crore compared to Rs 103 crore a year ago, lower by 47%, driven primarily due to lower volume and raw material inflation. Cash Performance: As on Q2FY25, the Company had Cash & bank balance of Rs 198 crore compared to Rs 124 crore as of FY24. During the year, the Company had paid Dividend of Rs 15 per equity share in August 2024 related to FY24, resulting in outflow of Rs 35 crore. Sandeep Mahajan, Chairman & Managing Director of Goodyear India said: “Our Company continues to enjoy significant market share with farm OEMs. The farm industry has seen modest recovery after facing a downturn in the previous financial year. With an above-normal monsoon this year and a promising outlook for the Rabi season supported by hike in Minimum Support Prices, we expect continued growth in the rural economy over the coming quarters.” “In the Consumer Replacement business, we are strategically repositioning our brand in the premium segment with a focus on Luxury, SUV, and EV. This is being done through new product launches by leveraging our global product portfolio, together with calibrated pricing action in the market.” “I am pleased to announce that Goodyear India Ltd. has been recognized with the Golden Peacock Award for Excellence in Corporate Governance for the year 2024”. Result PDF
Auto Tyres & Rubber Products company Goodyear India announced Q1FY25 results: The company’s first quarter revenue was Rs 695 crore, marking a 25% increase from Rs 554 crore in the previous quarter, yet 4% lower than the same quarter last year. First quarter profit before tax (PBT) was Rs 33.4 crore, compared to a loss of Rs 5.4 crore in the previous quarter, supported by robust volume growth. However, year-over-year profit was lower due to a reduction in volume and EPR. Mr. Sandeep Mahajan, Chairman & Managing Director of Goodyear India Ltd. said, “Our Company commands a significant market share with farm OEMs. The farm industry has rebounded strongly after experiencing double-digit degrowth in the last quarter. Rural demand appears to be gradually improving, and with favorable monsoons, we anticipate it to continue growing steadily.” Mr. Mahajan added, “Rising raw material prices, coupled with the regulatory requirements of Extended Producer Responsibility (EPR), have impacted our profitability. In Consumer Replacement business, we remain focused on winning in our target market segments – Luxury, SUV, and EV, by modernizing product portfolio, expanding distribution network, strengthening customer engagement through digital transformation initiatives, and building capability with best-in-class team. Result PDF
Auto Tyres & Rubber Products company Goodyear India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: The company's fourth quarter revenue was Rs 554 crore, lower by 16% from a year ago. Fourth quarter profit before tax (PBT) was Rs (5) crore compared to Rs 46 crore in the prior year. Year-over-year profit was lower due to lower volume and provision related to EPR. FY24 Financial Highlights: Gil's total income for FY24 were Rs 2,569 crore, lower by 13% from the same period last year primarily driven by lower sales due to subdued demand. FY24, profit before tax was Rs 128 crore compared to Rs 165 crore a year ago, decrease of 23% is driven primarily due to lower volume and provision for EPR partially offset by reduced raw material cost. As of Mar 31, 2024, the Company had Cash & bank balance of Rs 124 crore. In comparison, the Company had Rs 163 crore cash as of March 31 , 2023. The company had declared a dividend of Rs 26.5 per equity share for financial year 2022-23 and a special interim dividend of Rs 26 per equity share of Rs 10 each for FY24, resulting in cash outflow of Rs 121 crore. Capex spend during the year is Rs 40 crore. The Board of Directors has recommended a total dividend of Rs 15/- per equity share of Rs 10 each for the financial year 2023-2024, subject to approval of the Members at the ensuing Annual General Meeting of the Company. Sandeep Mahajan, Chairman & Managing Director of Goodyear India Ltd said, "We have witnessed demand pressure in both Farm and Passenger Car Tyres due to subdued industry, predominantly in Farm due to downturn in Tractor Industry which has shown a double-digit de-growth during the quarter. Our company is one of the prominent players with substantial share of business with Farm OEMs, which has remained under pressure due to cyclical nature of the industry. Rural demand has remained soft as well which has further impacted our Farm replacement business. Profitability has been impacted due to lower sales volumes and resultant production cut". Mahajan added, "The Ministry of Environment, Forest and Climate change notifies Extended Producer Responsibility (EPR) rules for waste tyres applicable to tyre manufacturers amongst others. The Company has a present legal obligation to fulfill the liability of FY23 and FY24 arising from the said rules. Accordingly, The Company has provided Rs.14 crore in the current quarter which is a one-time charge and has further impacted the profitability of the quarter." Result PDF
Auto Tyres & Rubber Products company Goodyear India announced Q2FY24 & H1FY24 results: Q2FY24: The company’s Q2FY24 revenue was Rs 695 crore, lower by 10% YoY. Q2FY24 profit before tax was Rs 51 crore compared to Rs 36 crore in Q2FY23. Profit was higher by 40% YoY due to reduced raw material prices offsetting the lower volume impact. H1FY24: GIL’s total income for H1FY24 was Rs 1,418 crore, lower by 11% from H1FY23. H1FY24 profit before tax was Rs 103 crore compared to Rs 87 crore in H1FY23, an increase of 19% is driven primarily due to reduced Raw material prices offsetting the lower volume impact. As of September 30, 2023, the company had a cash & bank balance of Rs 250 crore compared to Rs 163 crore as of March 31, 2023. During the year, the company paid a dividend of Rs 26.50 per equity share in August 2023 related to FY23, resulting in an outflow of Rs 61 crore. The company has also spent Rs 24 crore in capex during the first half in various expansion and sustaining projects. Sandeep Mahajan, Chairman & Managing Director of Goodyear India said, “We have increased market share in Consumer Replacement while maintaining our leadership in the Farm segment. We delivered profitable growth of 40% compared to the same period last year, driven by lower raw material cost, coupled with cost-saving initiatives.” Mahajan added, “Goodyear has been a leader in tire innovation over the last 125 years and has continuously strived to provide top-of-the-line products that align seamlessly with the ever-evolving demands of our customers.” Result PDF
Auto Tyres & Rubber Products company Goodyear India announced Q1FY24 results: Revenue in Q1FY24 is Rs 723 crore, compared to Rs 823 crore in Q1FY23, down 12% YoY. Profit before tax at Rs 53 crore in Q1FY24 compared to Rs 50 crore in Q1FY23, registering 4% growth YoY. As of June 30, 2023, the company had a cash & bank balance of Rs 311 crore. In comparison, the company had Rs 163 crore cash as of March 31, 2023. Sandeep Mahajan, Chairman & Managing Director, Goodyear India said, “We have sustained our leadership in farm while increasing market share in consumer replacement. We registered a profit growth of 4% YoY despite lower volumes, due to subdued industry and index-based price reduction to OEMs. The company simultaneously benefited from decreasing raw material prices and lower overheads to deliver profit growth. While the current economic environment remains challenging, we expect the industry to bounce back, especially in the light of good monsoon which should help stimulate the rural demand. The long-term growth prospect of India remains intact. A noticeable shift in customer preference is evident, as they gravitate towards larger and more powerful vehicles, which will drive premium categories and provide an opportunity for mix up of our portfolio”. “I am pleased to share that in 2023 we are celebrating 125 years of Goodyear’s global presence. It is with this historic milestone that we find pride in all that we have accomplished, and we look forward to the future with strong conviction. India is a key driver for Goodyear’s future growth, and we are committed to expanding our presence in the Indian market. We continue to focus on building a “Best in Class” organization with a strong culture around “Trust, Transparency & Meritocracy”, added Sandeep Mahajan. Result PDF