Two-wheeler tyre market leader CEAT is betting on electrification and premiumisation as it targets a top line of Rs 17,000 crore in three years. But competition is intensifying and it must strive hard to consolidate its lead - Issue Date: Feb 04, 2024
Tyre stocks have been on a tear over the past six months, with average returns exceeding 45 per cent. Except for Apollo Tyres, which has seen a slight correction in the last month and a half, limiting its gains to 16 per cent, listed peers such as MRF, CEAT Tyres (formerly Cavi Elettrici e Affini Torino), and JK Tyre & Industries have delivered returns exceeding 30 per cent during this period.
Production-related constraints and sluggish demand in Europe, where sales are expected to remain flat, coupled with high valuations, have contributed to Apollo Tyres underperformance.
The tyre sector s gains can be attributed to robust growth trends driven by the replacement market, which constitutes more than two-thirds of sales.
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Its revenue from operations was at Rs 2,727 crore in the reviewed quarter, against Rs 2,413 crore in the corresponding quarter the previous year,, , Ceat Tyres, ceat
Its revenue from operations was at Rs 2,727 crore in the reviewed quarter, against Rs 2,413 crore in the corresponding quarter the previous year, according to a statement shared with exchanges.