Auto Tyres & Rubber Products company Goodyear India announced Q4FY23 & FY23 results: The company’s Q4FY23 revenue was Rs 656 crore, up 9% YoY Q4FY23 profit before tax (PBT) was Rs 46 crore compared to Rs 23 crore in the prior year. YoY profit was higher due to a better sales mix and price realization, coupled with lower operating costs The company’s total revenue for FY23 was Rs 2,944 crore, a 20% increase compared to FY22, driven by higher volumes and better price realization. FY23, profit before tax was Rs 165 crore compared to Rs 138 crore in FY22, driven by higher volumes with better mix and lower overheads. As of March 31, 2023, the Company had a Cash & bank balance of Rs 163 crore. In comparison, the Company had Rs 390 crore cash as of March 31, 2022. During the year, the Company has paid dividend of Rs 20 per equity share and a special dividend of Rs 80 per equity share, totaling to Rs 100 per equity share of a face value of Rs 10 each, related to FY22, resulting in outflow of Rs 231 crore Capex spent during the year is Rs 121 crore. The Board of Directors has recommended a total dividend of Rs 26.50 per equity share of Rs 10 each for the FY23, subject to the approval of the Members at the ensuing Annual General Meeting of the Company. Sandeep Mahajan, Chairman & Managing Director of Goodyear India said, “We have delivered solid revenue and profit growth in the quarter despite a tough business environment marked by continued inflation and high interest rates. The growth is driven by better demand in OE segment. Decrease in raw material costs, coupled with cost efficiencies, drove higher profitability in the quarter.” “While near-term concerns around the macro environment remain, in future we continue to expect improving raw material cost trends. We’re focused on expanding our distribution and repositioning our brand in premium segment” added Mr. Mahajan. Result PDF