List of Best Tyre Stocks In India 2024

The automobile sector has seen impressive growth, resulting in high demand for top-quality tyres in India. The Indian Tyre market is projected to reach 253.9 Million Units by 2032, indicating a CAGR of 2.9% from 2023 to 2032. Investors who want to diversify their portfolios with stocks from this sector need to gain knowledge about the top tyre stocks in India. In this blog, we will have a look at some tyre stocks in India based on their PE ratio, and their advantages, and disadvantages, among other things.

Best Tyre Stocks in India in 2024 

Here is the Best tyre stocks list for your reference:
 

Disclaimer: The information provided on the above stocks is for informational purposes only. It is crucial to conduct thorough research before making any investment decisions regarding these stocks. We do not recommend trading any stocks without comprehensive research and professional financial advice. Always consult with a certified financial advisor to ensure informed and appropriate investment choices. 

Overview of Best Tyre Stocks in India 

Here is an overview of the best tyre stocks in India: 

JK Tyre & Industries

• JK Tyre & Industries Ltd. is a small-cap company in the tyre industry that was founded in 1951. It is one of the leading tyre manufacturers in India and among the top 25 manufacturers in the world with a wide range of products catering to diverse business segments that include Truck/Bus, LCV (Light commercial vehicles), Passenger Cars, MUV (Multi utility vehicles) and Tractors.
• The firm primarily creates, produces, sells, and distributes tube flaps and retreads for automobile tyres. It sells tyres to automakers for original equipment installation and for retail replacement markets. The firm distributes its products all over the world and has production facilities in Mexico and India.

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CEAT Ltd

• One of India's biggest tyre producers and one with the fastest pace of growth is CEAT, which was founded in 1958. In 1982, CEAT was integrated into the RPG Group. CEAT offers world class, high-performance tyres for a variety of vehicles, including 2/3 wheelers, passenger and utility vehicles, commercial vehicles, and off-highway vehicles. The company manufactures tubes, flaps, and tyres for automobiles.
• Located in Nashik, Mumbai, Halol, Ambernath, Chennai, and Nagpur, CEAT has 17 outsourcing units in addition to its 6 manufacturing factories. CEAT's fully-owned subsidiary is in charge of the Ambernath facility. Through its international joint ventures, CEAT also maintains a manufacturing unit in Sri Lanka.

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Apollo Tyres

• Apollo was founded in 1972 and produces tubes, radial, and automated bias tyres. Its plants are located in Chennai, Pune, Vadodara, and Kochi. 
• Prominent tyre brands from India's T&B, light truck, passenger car and farm vehicle segments are included in the product profile. These brands serve both OEMs and the replacement market.
• Additionally, it has marketing and sales subsidiaries in the ASEAN and Middle East Africa regions. The firm operates production facilities in Hungary and The Netherlands, both of which are outside of India. The company is rapidly increasing its production capacity and looks to maintain its strong position in the tyres market.

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MRF Ltd

• MRF Ltd was incorporated in the year 1960 and is India's largest tyre manufacturer and ranked among the Top 20 Global Manufacturers. It is also India's largest Original Equipment Manufacturer (OEM) tyre supplier with an expansive tyre range from two-wheelers to fighter aircraft.
• Block pattern rear tube-type tyres were designed for the Royal Enfield Classic 350, whereas tubeless rear tyres were created for the Yamaha Fascino125 BS6 scooter and tubeless tyres were created for electric scooters. For commercial transport vehicles, it introduced the MRF Savari Extra, MRF Super Miler 99 Plus, and MRF Super Lug Fifty Plus R brands of tyres for commercial vehicles.

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Balkrishna Industries

• In 1987, Balkrishna Industries Limited (BKT) began selling off-highway tyres. BKT has effectively concentrated on niche markets for more than 30 years, including earthmoving, port and mining, ATV, gardening, and the construction, industrial, and agricultural sectors. 
• Modern production facilities are located at five locations across the country: Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj. It runs BKT Europe S.r.l. in Seregno, Italy; BKT tyres USA Inc. in Akron, Ohio; BKT Tyres Canada Inc. in Toronto; and BKT tyres, Inc. in Brentwood, Tennessee, as its four subsidiaries in Europe and North America. The company distributes its goods to 130 countries throughout the globe via a nationwide distributor network.

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TVS Srichakra

• TVS Srichakra Limited is an Indian company that manufactures and exports off-highway, two- and three-wheeler tyres as well as tyres under the TVS Eurogrip, Eurogrip, and TVS Tyres brands.
• The Automotive Tyres, Tubes, and Flaps business segment is run by the company. Within the country, the company services the replacement market and vehicle manufacturers (often referred to as OEMs) by providing tyres through a network of depots, distributors, and retailers. Its products can be found in more than 85 countries worldwide.
• Two- and three-wheeler tires, all-terrain vehicle tires, skid-steer construction tires, industrial pneumatic tires, heavy-duty earthmover tires, farm and implement tires, flotation tires, and other multipurpose tires are among the products offered by the company. Its off-highway tyres are used for off-roading, construction, and agricultural purposes. There are two locations where it makes tires: one in Tamil Nadu and another in Uttarakhand.

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GOODYEAR

• With a production site located in Ballabgarh, Haryana, India, Goodyear India Limited is an Indian firm that manufactures and trades tires, tubes, and flaps. The company produces and markets commercial truck and agricultural tires, among other automobile tires.
• The company retails tires under the Goodyear name. Additionally, the company markets and sells tires for passenger cars that are produced in Aurangabad by Goodyear South Asia Tyres Private Limited (GSATPL). The Company also markets and distributes flaps and tubes as other items.
• In addition to other tires, it sells Goodyear Assurance Duraplus, Goodyear Wrangler TripleMax, Goodyear Efficientgrip Performance SUV, Goodyear Eagle Efficientgrip, Goodyear Eagle F1 Directional 5 tires, and Goodyear Assurance Comforttred tires. It produces its goods in over 57 factories spread across 23 nations.

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Apcotex Industries

• Apcotex Industries Limited is a speciality chemical firm established in India. The company makes synthetic rubber (high styrene rubber, nitrile butadiene rubber) and lattices (VP Latex, SBR and Acrylic Latex, Nitrile Latex).
• It offers a variety of products on the market that are based on the chemistry of styrene-butadiene and acrylonitrile-butadiene. The latex products offered by the company are utilised in construction, industrial, surgical, tire cord dipping, paper and paperboard coating, carpet backing, and glove examination.
• Synthetic rubber comes in several grades that are used in items including hoses, conveyor belts, v-belts, shoes, and automotive parts. More than 45 nations receive its products, including the Middle East, Southeast Asia, and the Indian Subcontinent. APOTEX N745, APOTEX N746, APOTEX N747, APOTEX N749, Apcoflex NVC70E, Apcoflex NVC70E-P, APOTEX TSN 100, and APOTEX PC are some of its products.

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PIX Trans

• PIX Transmissions Limited is an India-based producer of belts and other mechanical power transmission devices. The company is based in Nagpur, India, and operates production facilities in addition to an automated rubber mixing facility. Its amenities include a fabrication workshop, a design center, and advanced testing facilities.
• The company also includes a modern manufacturing facility and an automated mixing unit. The company has over 250 dedicated channel partners in more than 100 countries worldwide, in addition to its overseas subsidiary operations in Europe and the Middle East. V-belts, Banded Belts, Timing/Synchronous, Ribbed/Poly-V Belts, Automotive, Industrial, Agricultural, Lawn & Garden, and Powerware items are among the items offered by the company. Its belts are used in steel, cement, mining, and power-generating equipment.

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GRP

• GRP Ltd. is a well-known producer of designed products die-cut from end-of-life tires, upgraded polyamide from nylon waste, and reclaimed rubber from used tires. It was founded in 1974.
• With seven manufacturing facilities spread throughout India and an installed capacity of 81,200 MT annually, the company operates five business verticals (Reclaim Rubber, Engineering Plastics, Repurposed Polyolefins, Polymer Composite & Custom Die Forms) to meet the demands of the global polymer industry and contribute to the preservation of the planet's precious resources. For the past forty years, GRP has been a publicly traded corporation that is listed on the Bombay Stock Exchange.

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Factors to Consider Before Investing in Tyre Stocks in India

Here are the factors you need to consider before investing in Tyre sector stocks in India:

• Financial performance: To determine the company's stability and growth potential, examine revenue growth, profit margins, and debt levels. To determine its growth potential you can compare the company's performance to similar companies in the same industry. 
• Market demand: With the expansion of the automotive industry there is an increase in demand for tyres. Increasing tyre production, which in turn has increased tyre waste. Tire recycling has become increasingly important to reduce this waste.
• Product range: There is a better chance for companies to capture market share if they offer tyres for a variety of vehicles and purposes. It's important to consider the diversity of the company's portfolio. 
• Management expertise: Identify the management team's experience and performance history, since successful leadership is essential for long-term success.
• Regulatory environment: Stay updated about the government rules and policies that may impact the tyre and automotive sectors. These rules and regulations might have an impact on market opportunities and operating expenses.
   

Why Should You Invest in Tyre Stocks?

Investing in tyre stocks can be a smart choice as the tyre stocks in India have a bright future thanks to the growing demand for vehicles and infrastructure development. However, before making any investment decision, it’s important to conduct thorough research and take into account different factors such as market trends, company financials, and the overall economic environment. Additionally, investors should look into the company's competitive advantages, such as its brand image, research and development capabilities, and the quality of its products. 
 

Advantages & Disadvantages of Investing in the Tyre Stocks in India

Here are the advantages and disadvantages of the best tyre stocks in India

Conclusion
To sum up, investing in the best tyre stocks in India can have significant growth prospects as the automotive industry is growing.  A thorough assessment of the companies' market capitalisation, financial stability, and strategic initiatives must be conducted. By considering the factors mentioned above, you can make informed decisions and benefit from the tyre industry's growth. To start your investment journey in the top tyre stocks in India you need to download a stock market app so you can easily browse through the tyre stocks list.