The tyre industry in India is a key contributor to India’s manufacturing GDP (3%) as well as overall GDP (0.5%). The industry is an integral part of the overall automobile industry in India. Here is the list of top 10 popular tyre brands in India.
From a market size of about Rs 30,000 crores in 2010-11, the Indian tyre industry had an almost double growth in 2017-18, shooting up to Rs 59,000 crores. The domestic markets contributed the lion’s share – more than 90%. The top 5 companies contribute almost 60% of the total revenue.
As of today, the Indian tyre industry stands valued at around Rs 64,000 crores. In the organized sector, there are more than 40 companies operating, carrying on production from more than 62 plants. Directly & indirectly, this sector employs close to 3 million people and is the producer of among the largest variety of tyres in the world.
Which vehicles contribute the most to tyre sales?
Trucks and buses are the major contributor to tyre sales in India – more than 50% of the total revenue. On the contrary, Passenger Car Radials are the top revenue generators around most of the world. This can be attributed to the fact that the penetration of passenger cars in India is still quite small, compared to its population (<20 per 1,000).
The process of tyre manufacturing
More than 250 raw materials are used in manufacturing a simple tyre. The primary components are natural & synthetic rubber. Other ingredients are bead wire, nylon tyre fabric, carbon black, anti-oxidants, and vulcanizing agents.
The ingredients are mixed together in giant blending machines. Once compounded, the materials are taken to the next stage to be made into various parts of the tyre. Thereafter, the job of assembling the tyres begins. The tyres are taken through the curing press where they are treated at 300 degrees for close to 20 minutes. This is where they get their final shape.
The top players in the Indian tyre market continue to produce global-quality tyres at competitive rates for the Indian users.
Here is the updated list of popular Car tyre brands in India
MRF Tyre
This is India’s largest tyre company in terms of total sales. MRF Ltd is a brand that has a global reputation as well, with exports to over 60 countries. From a shack where it all started in Chennai (then Madras) in 1946, the company is a giant in its segment today with 8 production facilities across 450 acres and stands tall as the undisputed leader. In terms of quality and market reach, no company can beat MRF Ltd today.
- Market Cap (Rs Cr.): 25,794.91
- Book Value (Rs): 28304.52
- Face Value (RS): 10.00
- Turnover (Rs. In Lakhs): 2,128.37
Profit & Loss
- Mar 20: 1,422.57
- Mar 19: 1,130.61
- Mar 18: 1,131.61
- Mar 17: 1,486.22
JK Tyre
While being among India’s leading tyre manufacturers, JK Tyre & Industries Ltd is also among the top 25 tyre manufacturers globally. With a production facility across 12 plants, out of which 3 are in Mexico, JK Tyre & Industries has ensured a presence in over 100 countries of the world. Its total production capacity per annum is close to 35 million tyres.
- Market Cap (Rs Cr.): 1,423.21
- Book Value (Rs): 87.82
- Face Value (RS): 2.00
Profit & Loss
- Mar 20: 01
- Mar 19: 176.29
- Mar 18: 92
- Mar 17: 379.82
Apollo Tyres
The company came into being in 1972. Ever since then, it has made a name for itself as one of the most reputed tyre manufacturers of India. Through a huge network of dealers and distributors, Apollo Tyres ensures that its two global brands – Apollo and Vredestein – are available in over 100 countries of the world. Its manufacturing outlets are spread across India, Hungary, and The Netherlands.
- Market Cap (Rs Cr.): 7,064.82
- Book Value (Rs): 134.47
- Face Value (RS): 1.00
- Turnover (Rs. In Lakhs): 7,107.71
Profit & Loss
- Mar 20: 40
- Mar 19: 679.72
- Mar 18: 88
- Mar 17: 1,099.30
Balkrishna Industries
Balkrishna Industries counts among India’s leading tyre manufacturers. It is a premium player in the off-highway tyre market. Ever since its inception in 1987, the company has focused on some specific market segments like industrial, agricultural, and construction vehicles. It also has a presence in the earthmoving and port & mining vehicles segment.
The company has 4 subsidiaries in Europe & North America. And a large distributor chain has made it possible for the company’s tyres to find markets in more than 130 countries globally.
- Market Cap (Rs Cr.): 27,790.31
- Book Value (Rs): 260.10
- Face Value (RS): 2.00
- Turnover (Rs. In Lakhs): 58,076.81
Profit & Loss
- Mar 20: 65
- Mar 19: 773.65
- Mar 18: 79
- Mar 17: 716.85
CEAT
The Mumbai-headquartered CEAT started operations in 1958. Today, it is a major player in the Indian tyre market, with an annual production of more than 15 million tyres every year. The company produces a wide range of radial tyres for almost all kinds of vehicles like trucks, buses, light commercial vehicles, earthmovers, tractors, cars, two and three-wheelers, etc.
- Market Cap (Rs Cr.): 3,648.40
- Book Value (Rs): 723.71
- Face Value (RS): 10.00
Profit & Loss
- Mar 20: 84
- Mar 19: 230.88
- Mar 18: 210.28
- Mar 17: 330.86
TVS Srichakra
Part of the globally-renowned TVS Group, TVS Srichakra has manufacturing facilities of close to 3 lakh square meters. Consistently counted among India’s top tyre manufacturers, the company manufactures different types of tyres like those for two and three-wheelers, farm & implement, industrial pneumatic tyres, multipurpose tyres, etc.
- Market Cap (Rs Cr.): 1,089.41
- Book Value (Rs): 995.14
- Face Value (RS): 10.00
Profit & Loss
- Mar 20: 27
- Mar 19: 103.27
- Mar 18: 34
- Mar 17: 149.69
Goodyear India
Goodyear is among the largest tyre manufacturers in the world. Its production facilities are spread across more than 20 countries. It has close to 50 facilities. The company consistently sets new standards in production excellence and delivering top-quality tyres for a large range of vehicles.
- Market Cap (Rs Cr.): 1,960.65
- Book Value (Rs): 397.00
- Face Value (RS): 10.00
Profit & Loss
- Mar 20: 84
- Mar 19: 102.07
- Mar 18: 96
- Mar 17: 127.37
PTL Enterprises
Incorporated in 1959, PTL Enterprises today is leased out to Apollo Tyres on a long-term basis. All the manufacturing is handled by Apollo Tyres.
- Market Cap (Rs Cr.): 258.14
- Book Value (Rs): 23.03
- Face Value (RS): 2.00
Profit & Loss
- Mar 20: 94
- Mar 19: 39.85
- Mar 18: 83
- Mar 17: 30.29
Elgi Rubber
Elgi Rubber is a premier manufacturer of various tools, equipment, raw materials, and accessories for use in the tyre sector. The company has state-of-the-art manufacturing facilities spread across various locations. The company operates through subsidiaries in Australia, Kenya, The Netherlands, Brazil, the USA, and others.
- Market Cap (Rs Cr.): 75.58
- Book Value (Rs): 52.81
- Face Value (RS): 1.00
Profit & Loss
- Mar 20: -15.20
- Mar 19: -16.11
- Mar 18: -5.64
- Mar 17: -4.03
Bridgestone
The world’s largest tyre manufacturer has a sizeable presence in India, with offerings of more than 30 premier tire models for a range of passenger cars & SUVs. Continuous innovation and substantial investment in research & development have been the hallmarks of the company ever since inception.
- Total Sales 2019: 3,525.6 billion
- Profit: – N/A
- ROE: 58%
- Sales Growth (3Yrs): – N/A
- Market Cap (Bl): 22.04 billion
- Book Value (Rs): N/A
- Face Value (RS): N/A
List of Top 10 Tyre Brands in India
| Sl. No. | Company | Establishment | Head office | Website |
| 1 | MRF Ltd | 1946 | Chennai | https://www.mrftyres.com/ |
| 2 | JK Tyre and Industries Ltd. | 1951 | New Delhi | https://www.jktyre.com/ |
| 3 | Apollo Tyres Ltd. | 1972 | Gurugram | https://corporate.apollotyres.com/ |
| 4 | Balkrishna Industries Ltd. | 1987 | Mumbai | https://www.bkt-tires.com/ |
| 5 | Ceat Ltd. | 1958 | Mumbai | https://www.ceat.com/ |
| 6 | TVS Srichakra Ltd. | 1982 | Chennai | https://www.tvseurogrip.com/ |
| 7 | Goodyear India Ltd | 1922 | New Delhi | https://www.goodyear.co.in/ |
| 8 | PTL Enterprises Ltd. | 1959 | Gurgaon | https://www.ptlenterprise.com/ |
| 9 | Elgi Rubber Company Ltd. | 2006 | Coimbatore | http://www.elgirubber.com/ |
| 10 | Bridgestone | 1931 | Chuo City, Tokyo, Japan | https://www.bridgestone.com/ |
