796.35 -6.80 (-0.85%)
BSEJul 16, 2020 15:31
The 2 reports from 1 analysts offering long term price targets for Goodyear India Ltd. have an average target of 910.00. The consensus estimate represents an upside of 14.27% from the last price of 796.35.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-06-29||Goodyear India Ltd.||ICICI Securities Limited||770.50||910.00||770.50 (3.35%)||14.27||Buy|
ICICI Securities Limited
Goodyear India (GIL) is a leading domestic tyre player with manufacturing presence in farm equipment i.e. tractor and CV segments. It also serves the PV segment, albeit through trading route (manufacturing to trading mix as of FY19 was at 67:33). We expect the domestic tractor industry to outperform wider automotive space over FY20-22E as 1) it does not suffer from similar demand-side shocks on account of relatively stable rural incomes pursuant to remunerative crop prices, expectations of a normal monsoon in 2020, government focus on doubling farm incomes and...
|2019-09-17||Goodyear India Ltd.||ICICI Securities Limited||939.80||1000.00||939.80 (-15.26%)||Target met||Hold|
ICICI Securities Limited
Goodyear India (GIL) is a leading tyre player domestically manufacturing tyres for the farm equipment (tractor) and CV space. GIL is also present across the PV category but does not manufacture the same. The manufacturing to trading mix was at 67:33 as of FY19. With healthy 8% growth in tractor volumes in FY19, GIL reported a healthy performance in FY19, with revenue from operations rising 14.9% YoY to | 1,912 crore. However, EBITDA fell 18.4% YoY to | 164 crore, with attendant margins coming off sharply by 351 bps YoY to 8.6%. Consequent PAT for FY19 was...
|2018-01-03||Goodyear India Ltd.||ICICI Securities Limited||1110.00||1510.00||1110.00 (-28.26%)||Buy|
|2017-03-01||Goodyear India Ltd.||Karvy||709.25||759.00||709.25 (12.28%)||Target met||Hold|
Mixed Performance on the Back of Inventory Changes: Goodyear India in Q3FY17 reported mixed performance with marginal YoY growth of 4.7% in topline and sizable jump in net profits by 27.5%. Inventory changes ledto this significant growth in the profit margins and the bottomline of the company. The topline grew YoY by 4.7% to Rs. 4040 mn, the operating profit margins increased by 274 bps YoY by 14.6% and the bottomline grew by 27.5% to Rs. 332 mn on YoY basis.
|2016-11-15||Goodyear India Ltd.||HDFC Securities||740.00||860.00||740.00 (7.61%)||Target met||Buy|
|2016-06-10||Goodyear India Ltd.||Angel Broking||519.20||631.00||519.20 (53.38%)||Target met||Buy|
Expectation of normal monsoon to energize stagnant tractor demand: Goodyear India (GIL) is a leader in the farm tyre segment in India with it having strong tieups with OEMs as well as a dominant presence in the replacement market. Farm tyres account for ~50% of the company's overall revenues; however, the segment has been under pressure o..