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Capital expenditure of tyre makers to rise to Rs 5,000 cr this fiscal: CRISIL

The iStock report is based on an analysis of the top six tire manufacturers in China. CRISIL He said that manufacturers account for 80% of the Rs 750 billion industry. According to the CRISIL report, the capital expenditure of the tire manufacturers is expected to increase to around Rs 500 crore this fiscal due to improved demand. Compared to the previous two fiscal years, this fiscal year is about Rs. 3,700. crore with an improved annual growth rate. Demand is likely to be driven by segments such as replacement vehicles, commercial vehicles and passenger vehicles (CVs and PVs), and the credit profile of tire makers, excluding exports, is expected to remain “stable”, the rating agency said. CRISIL The report is based on an analysis of the country’s top six tire manufacturers, accounting for 80% of the Rs 7,500 crore industry. However, the report said the capex for the current fiscal will be lower than the annual average of about Rs 62 billion from 2018 to ...

Tyre companies hope for ‘achhe din’ with fall in Chinese imports

KOCHI: The slowdown in China’s tire imports and the growth in automobile sales over the past few months have given hope to the Indian tire industry. After a prolonged slump, the Indian tire industry is expected to grow in the fourth quarter of the current fiscal. According to the tire industry body, the Automotive Tire Manufacturers Association (Atma), imports of truck and bus midday tires (TBRs) have declined by about 50% to 75,000 tonnes per month since the government imposed anti-dumping duties in September. The domestic market is also showing signs of decline. Resurrection will take a long time. Atma Rajivi Budhraja He said, “Tire sales for trucks and buses are on the rise.” “The performance of passenger cars has been steady over the past few months. Replacement and original equipment parts for vehicles are performing well.” However, Badiraja pointed out that this improvement is coming from the low levels of a year ago. The domestic tire ind...

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Capital expenditure of tyre makers to rise to Rs 5,000 cr this fiscal: CRISIL

Tyre companies hope for ‘achhe din’ with fall in Chinese imports