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MRF: Challenging environment

Apr 3, 2002

Auto component majors, after touching their 52-week low levels in 2QFY02, have recovered in sync with other auto majors. While the recovery in auto sector would definitely benefit these players, there are some segments like tyres in which pricing power of manufacturers is slowly decreasing. MRF, one of the market leaders in the Indian tyre segment, has also been a victim on account of higher raw material costs and competition.

MRF: 2Q net declines 74% YoY

May 2, 2001

MRF Ltd, India's largest tyre manufacturer has reported dismal results for 2QFY01. The company's net profit has registered a decline of 74% YoY to Rs 43 m for 2QFY01 as compared to Rs 166.5 m for 2QFY00. Its turnover declined by 22% during this period due to the ongoing slowdown in the automobile sector.

MRF Ltd: 1QFY01 net falls 42%

Feb 1, 2001

MRF Ltd has reported a decline of 42% YoY in its net profit to Rs 96.4 m for 1QFY01 as compared to Rs 166.2 m for 1QFY00. Its turnover went up marginally by 0.5% to Rs 5,706 m.

MRF Ltd: Net profit down 35%

Dec 23, 2000

MRF Ltd has reported a decline of 35% YoY in its net profit to Rs 641 m for FY00 as compared to Rs 986.7 m for FY99. This is despite a 2% growth in turnover in FY00.

Tyres: Threat from China

Dec 22, 2000

The Indian tyre industry has seen a decline in imports from 240,000 car radial tyres in FY98 to 120,000 car radial tyres in FY2000. However things are changing in the current year. It is faced with the pressure of cheaper Chinese imports, which have made an inroad into the Indian tyre market.

Apollo Tyres Ltd. net up 44%

Jul 31, 2000

The company has reported a 7.5% YoY increase in net sales for the 1QFY01 to Rs 3,509 m.

MRF Ltd : higher rubber prices result in fall in net

Jul 29, 2000

The company's sales have gone up by 5% YoY to Rs 6.1 bn in the 3QFY01, however due to a sharp rise in operating expenses the company's operating margins fell from 14.4% in 3QFY00 to 10.2% in 3QFY01. The expense which went up was of raw material as rubber prices have been on the rise. These took its toll on the company's margins.

Apollo Tyres net up 145% YoY

May 30, 2000

Apollo Tyres has reported a net profit of Rs 761 m for FY2000, a growth of 145% over the FY99 net of Rs 311 m. Sales and other income grew by 18.9% YoY to Rs 13.7 bn in FY2000. The operating profit before depreciation and tax jumped 60% YoY.

Tyre production up, prospects not so bright

May 2, 2000

The tyre production figures from April'99-January'2000 have shown an improvement of 7.1% YoY at 29.8m units as compared to 27.7m units for the same period of previous year. The truck and bus segment which accounts for 70% of sales reported a production growth of 11.9% YoY during this period. The other segments that contributed to a good growth in tyre production were passenger cars, tractors and motorcycles as demand from these segments was buoyant during the year.

MRF reports disappointing 2Q results

Apr 20, 2000

MRF has reported a fall in its net profit by 34% for the 2QFY2000 to Rs 209 m as compared to Rs 316 m reported by the company in the 2QFY99. The main reasons for this decline are a fall in operating profits by 16% YoY which was driven by a decline in sales and increase in operating expenses.

Goodyear India net profit up 28.6%.

Mar 28, 2000

Goodyear India has reported a net profit of Rs 189 m for FY2000.

Continental, Metro set to sign deal

Oct 29, 1999

Newspaper reports reveal that Continental AG plans to enter into technology assistance and offtake agreements with Metro Tyres for the manufacture of scooter and motorcycle tyres.

Ceat Tyres net lower by 10%

Oct 28, 1999

Ceat Tyres has reported net profit of Rs 31.8 m (down 10% year on year) in 2QFY2000. This was posted by a leading financial daily.

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