Best Tyre Stocks to Buy in India – List of Top 10 Tyre Industry Shares of 2023Last Updated Date: Jan 31, 2023
To succeed in investing, you need to select the right tire company shares for the trader. Picking out the Best Tyre Stocks to buy requires lots of research.
So, keep these points in mind before picking any particular stock. Always refrain from purchasing a stock because of emotional factors.
You should always avoid buying a stock simply because the market is hyping it. Instead, you must remember to keep your portfolio diverse to decrease risk.
You must keep all these points in mind to invest in one of the best tyre companies in India.
Know about Tyre Sector in India
India’s tyre industry plays a vital role in the auto industry’s growth. It accounts for 3% of the manufacturing GDP and 0.5% of the total GDP.
Here are some facts about the Indian tyre industry. Since 2010-11, India’s tyre industry has doubled in size.
During 2010-11, this figure was Rs 30,000 crore, but in 2017-18, it was Rs 59,500 crore. 90-95 percent of sales came from domestic markets.
The top tyre companies in India are MRF, Apollo Tire, and Balkrishna Inds. controlling 60% of the market.
So, shares of these brands are some of the top tyre sector stocks to buy. Depending on the end market and the product, you can segment tires in two ways.
Approximately 70% of revenues come from replacement tires in the Indian tyre market. 60% of the total volume (tonnage) comes from replacement items.
The aftermarket realizations are higher than those of OEMs (Original Equipment Manufacturers).
Best Tyre Stocks in India – List of Top 10 Tyre Sector Stocks to Buy Today
Check out the Tyre Share Price & Ranking of Best Tyre Shares to buy Today or Tomorrow or for Long Term –
The listed table gives a brief insight into the best tyre shares in India. Now, let us examine them in detail to comprehend some of the top tyres shares to buy.
Balkrishna Industries, a leading tyre manufacturer, is ranked #1. The company has a history of maintaining steady growth.
Their EPS has been the highest throughout the last five years. Also, compared to the peer companies, its stock performs better.
Considering everything, investing in Balkrishna’s stocks is a sensible decision.
The next one on the list is MRF. The company have a vast range of products and maintained a very steady growth. This makes it a safe choice to invest in.
The third one on the list is Apollo Tyres. Being one of the top tyre makings and selling companies of India and Europe, its stocks are also top-rated.
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Balkrishna Inds. – Best Tubeless Tyres Stock in India
Balkrishna Industries Limited (BKT) is a multinational tyre manufacturer based in Mumbai. It is also the company’s global headquarters.
Balkrishna Industries has five manufacturing plants in Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj.
They produce tyres for mining, earthmoving, agriculture, and gardening. In 2013, it was ranked 41st in the world for tyres.
In 1987, the first Balkrishna Industries manufacturing facility opened in Aurangabad. The company expanded in the following years.
It opened offices in Bhiwadi (2002) and Chopanaki (2003). (2006). It also introduced tyres for ATVs, earthmoving equipment, and gardening tools.
Since 1987, Balkrishna Tyre has been a manufacturer of off-highway tyres. Its origins, however, trace back to the 1950s.
BKT has successfully focused on specialist segments for the past 30 years. Agricultural, construction, and industrial work are all included.
It can also be used for mining, earthmoving, and gardening. BKT has the best tubeless tyres stocks in India right now.
Products and services:
Agricultural, Industrial, Earthmoving, Port, Mining, Forestry, Lawn, Garden Construction, and All-Terrain Vehicles.
Why invest in Balkrishna Inds Stocks?
- BKT currently controls 6% of the global market for large off-highway tyres (OHT).
- BKT has consistently generated strong cash flows. In addition, they maintained a strong balance sheet over the years.
- Balkrishna Industries Ltd’s stock score increased by one point in a week on a 10-point scale.
- The EBIT margin for Balkrishna Industries was flat year on year. Yet their revenue grew by 41% to 71 billion.
Considering all of these, if you are looking for Tyre Shares to Buy, Balkrishna is an excellent choice.
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MRF – Tyre Stocks in India
MRF’s beginnings trace back to a small shack in Madras. KM Mammen Mappillai established his first makeshift toy balloon manufacturing unit in 1946.
However, it wasn’t until 1952 that it shifted gears and began producing tread rubber. Thus began its illustrious reign as the undisputed industry leader in tread rubber.
MRF began exporting its high-quality tyres to various countries in the early 1960s. By the early 1970s, it had a global presence in 65 countries.
They had tyres rolling out of ten facilities spread across 450 acres. In addition, they built 5000+ strong dealer networks and 130 different offices.
MRF is known for its commitment to constant quality improvement and customer satisfaction. It has received the JD Power award a total of 13 times.
It has also received TNS and CAPEXIL awards for India’s most trustworthy tyre company. So if you’re looking for the best tubeless tyre shares to buy, Mrf is the one to go for.
Products and services
Rubber products, such as tyres, treads, tubes, and conveyor belts, as well as paints and toys.
In Chennai, MRF also runs the MRF Pace Foundation and the MIDD – MRF Institute of Driver Development.
Why invest in MRF Stocks?
- MRF has experienced a consistent profit growth of 45.65% over the last five years.
- The company has a strong return on equity (ROE) track record, with an ROE of 30.89% over the previous three years.
- The MRF stock price could rise from 77015.50 INR to 86290.00 INR in a year.
- In the Indian share market, MRF’s shares are the most expensive, costing 74000 rupees a share. This is because MRF has never split its stock.
Thus, consider MRF if you want to invest in tyre stocks in India.
Apollo tyres – Top Tyre Sector Stocks
Apollo Tyres Ltd. was founded in 1972. Since then it has become a trusted name in the tyre manufacturing and sales industry.
They serve more than a hundred countries from the corporate headquarters in Gurgaon. Two global brands, Apollo and Vredestein, market their products.
In addition, Apollo Tyres has many manufacturing facilities in India, the Netherlands, and Hungary. The company will have a global workforce of approximately 19,000 employees at the end of 2021.
They also had a turnover of US$ 2.34 billion. The company traded on the Bombay Stock Exchange and the National Stock Exchange on March 31, 2021.
They owned 62.69% of the shares, and they currently have one of the top tyre sector stocks.
Products and services
Apollo Tyre Ltd is based in India. They have four manufacturing facilities, two in South Africa and two in Zimbabwe. In India, Apollo Tyre has around 4,500 dealerships. Over 3,000 of them are exclusive outlets.
They also have 230 multi-brand Dunlop Accredited Dealers in South Africa and Zimbabwe. Apollo Tyre product line includes brands like –
Radial, Crossply, Acelere Wheelz, and SUV, Kaizen.
Why invest in the Apollo Tyres Stocks?
- In the last three years, the company’s net sales have remained stable, increasing at a rate of 2% per year.
- Earnings per share are also good, but they are down slightly from last year, i.e. 2016–19.38 and 2017–14.92.
- Continuous debt reduction is one of the company’s major positives. The debt-to-equity ratio has decreased from 1.05 in 2012 to just .34 in 2017.
- Apollo Tyres’ per share costs are very low. As a result, it has one of the lowest Tubeless Tyres Share Price.
- Apollo Tyres Stock predictions say that the stock prices will rise in the next few months.
CEAT – Top Tyre Companies in India
CEAT is another one of the Top Tyre Companies in India. This company was founded in Turin, Italy, in 1924 and has come a long way since then.
In 1958, the company relocated to India and later joined the RPG Group. In India, the RPG group is the largest business conglomerate.
It has a 3 billion dollar turnover. CEAT is now one of India’s biggest tyre makers. They are operating in more than 120 countries.
CEAT was the first tyre company in the world to be awarded the prestigious Deming prize outside of Japan.
The Deming Prize is one of the world’s oldest and most prestigious quality awards. It honors companies that achieve business transformation through total quality management.
CEAT Specialty is an off-highway (OTR) and agricultural tyre division. They also have a brand-new agricultural radial plant.
CEAT Specialty tyres have a variety of applications. These include farming, mining, industrial, and construction equipment.
They also cover earthmovers and off-road tyres for special applications.
CEAT manufacturers a wide range of tyres for all user segments with over 5000 employees. They have seven plants in India and Sri Lanka.
CEAT produces tyres for a wide range of vehicles.
That includes heavy commercial vehicles, light commercial vehicles, off-highway tyres.
They also make tyres for passenger cars, tractors, motorcycles, scooters, cycles, and SUVs.
Why invest in CEAT Stocks?
- Operating profit at Ceat Tyres increased by 25.16% year on year, from Rs. 550.83 crs to Rs. 689.47 crs in FY15 and FY16, respectively.
- The company’s net profit increased by 51% year on year, from Rs. 298.97 crore to Rs. 452.52 crore.
- With a debt-to-equity ratio of 0.37, the company has a very low debt
- Ceat has the largest market share in Sri Lanka, and the Tyre Share Price is also low.
- CEAT Share Forecast suggests that it has very good future potential.
JK TYRE – Top Tyres Stocks in India
JK Tyre & Industries Ltd is the flagship company of the JK Organization and one of the Top Tyres Stocks in India.
It is one of India’s leading tyre manufacturers and one of the top 25 manufacturers in the world. With four decades of experience, JK Tyre leads innovation and excellence.
They develop and introduce ground-breaking technologies and products for various segments of the automobile industry.
The company was one of the first to develop radial technology. They produced the first radial tyre in 1977 and are now the market leader in the Truck Bus Radial segment.
The company made history in 2019. It was the year they entered the prestigious Limca Book of Records. JK Tyre introduced India’s first-ever ‘Smart Tyre’ technology—TREEL Sensors.
It monitors the tyre’s vital statistics, including pressure and temperature.They also introduced Tyre Pressure Monitoring Systems (TPMS). JK Tyre is a global force with over 180 international distributors in 105 countries.
In addition, the company operates 12 globally benchmarked ‘sustainable’ manufacturing facilities. Nine of those are in India and three in Mexico.
They collectively produce around 35 million tyres per year. In the country, JK Tyre is also associated with motorsport.
For more than three decades, the company has established India as Asia’s motorsport hub. It developed the necessary infrastructure and promoted young talent in the sport.
Products and services
The company’s primary focus is developing, manufacturing, marketing, and distributing. Their main products are automotive tyres, tubes, flaps, and retreads.
Why invest in JK Tyre Stocks?
- JK Tyre can be a profitable long term investment option if you look for stocks with a high return. Moreover, Jk tyre has one of the most affordable Tyres Share Price.
- On 2022-01-19, the price of JK Tyre & Industries Limited was 139.650 INR.
- BASED ON FORECASTS, the JK Tyre stock price prognosis for 2027-01-15 is 196.341 INR.
- The revenue is expected to be something around +40.6% after a 5-year investment. So in 2027, your current $100 investment could be worth $140.6.
Goodyear India – Top 10 Tyre Stocks
Goodyear India ranks 6th amongst the Top 10 Tyre Stocks in India. It is one of the largest tyre manufacturers in the world.
Goodyear employs approximately 72,000 people and produces its goods in 55 facilities across 23 countries. It has two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg.
They work to create cutting-edge products and services. They set the industry standard for technology and performance.
Goodyear has had a presence in India for over 90 years, with two plants, one in Ballabgarh and one in Aurangabad. Goodyear India supplies tyres to multiple leading Manufacturers.
The passenger car segment was a pioneer in introducing tubeless radial tyres. In the farm segment, Goodyear tyres are supplied to all major tractor companies in India. Goodyear India was named a Superbrand in 2010/11.
Products and services
This company makes rubber products tyres for two-wheelers and three-wheelers. They also manufacture tubes/flaps.
Product lines include Passenger Tyres, Light Truck Tyres, Truck Tyres, and Farm Tyres.
Why invest in Goodyear Stocks?
- The Tyre Share Price rose 2.86% on the last trading day, rising from $23.45 to $24.12. It has now gained five days in a row.
- The company’s stock has to buy signals from MACD Indicator. It indicates a positive outlook for the stock.
- The stock is expected to rise 6.24% over the next three months. It has a 90% chance of remaining between $20.78 and $26.85 at the end of that time.
TVS Srichakra – Best Tyre Stocks to buy
TVS Srichakra is a subsidiary of the USD 8.5 billion TVS Group.
Srichakra Tyres (STL) was founded on June 2, 1982, by R Naresh T V Sundram Iyengar & Sons Pvt. Ltd. and Sundaram Industries Pvt. Ltd.
In October 1997, the company was renamed TVS Srichakra Tyres Limited. TVS Srichakra Ltd’s major product lines are automobiles, motorcycles, and tyres.
It produces 2.7 million tyres and tubes per month, making it the Best Tyre Stocks to buy. All OEMs account for the lion’s share of the business.
The other product line includes Off-Highway Tyres for Industrial, Farm, and Agriculture Implements. They also have Tractors, Construction, and OTR Tyres. The company exports to the US, Europe, Latin America, Australia.
TVS Srichakra, India’s No. 1 in Motorcycle Tyres, is a leading manufacturer of Two and Three Wheeler Tyres and Tubes.
With an extensive program of Off-the-Road tyres for both the export and domestic markets.
Products and services
Company products include Industrial Pneumatic Tyres, Three Wheeler Tyres, Ultra Light Truck Tyres.
They also make Motorcycle Tyres, Moped Tyres, and Scooter Tyres.
Why invest in TVS Srichakra Stocks?
- The market capitalization of TVS Srichakra is $16.6 billion.
- The impressive EBIT growth rate of TVS Srichakra suggests that it is in control of its debt.
- The company has an amazing chance of growing more in the next 2-3 years, as 2-wheeler sales grow 10-15% per year.
- Traders can all trade in this stock for the short term as it also provides short-term benefits.
Birla Tyres – Top Tyre Stocks to buy
The next one on the list of Top Tyre Stocks to buy is Birla Tyres. Birla Tyres was founded in 1991 as a division of Kesoram Industries Ltd.
They make tyres for cars, motorcycles, commercial vehicles, and farm vehicles. They also make heavy earthmoving equipment.
The company operates more than 170 sales depots, 491 sales engineers, and 8,831 dealers in major markets.
In addition, Birla Tyre has an international network that spans 17 countries. Birla Tyres was founded in 1991 as a subsidiary of Kesoram Industries Limited.
It then collaborated on the production and development of its tyres with Pirelli. Birla Tyres is expanding its tyre lines as well as improving its dealer service and support.
The company is building a new world-class R&D center that will allow them to meet customers’ demands.
Birla Tyres’ quality and value are highly regarded by Indian vehicle manufacturers (OEMs). Therefore, they often install them as original equipment on new commercial vehicles.
In addition, they regularly use Birla Tyres on scooters, motorcycles, and three-wheelers.
Products and services
Birla Tyres has a wide range of tyres, from farm tractors to motorcycles. They have over 170 sales depots in India and 17 other countries.
The company manufactures bias and radial tyres. They also make truck and bus tyres, SCV and LCV tyres, Passenger car tyres,
Two and Three Wheelers tyres. Farm and Mining tyres are all produced by the company.
Why invest in Birla Tyres Stocks?
- The Birla Tyre stock price could rise from 24.850 INR to 43.959 INR in a year.
- In a single year, this company can earn +76.90%.
- After a 5-year investment, revenue can grow to be around +109.08%. So in 2027, your current Rs.100,000 investment could be worth Rs.209,080.
- Birla Tyres can be a profitable investment option if you are looking for stocks of Tyre Companies in India with a high return.
Dunlop India – Best Tyre Companies in India
Dunlop India has been one of the Best Tyre Companies in India for ages. It offers a variety of rubber products to customers across the country.
The headquarter of Dunlop was relocated to Free School Street in Calcutta’s Dunlop House. DIL built Asia’s first tyre plant in the same year at a 239-acre site near Calcutta.
The plant began by producing tyres for passenger cars, bicycles, and animal-drawn vehicles. Since then, it expanded its capabilities to include 300 types of tyres.
It ranges from scooter tyres to trucks, buses, tractors. It also makes earthmoving tyres and aircraft tyres.
Sahaganj also made a variety of industrial items. Among the products offered were steel cord conveyor belts, rubber, and PVC belts.
In addition, there are also transmission belts, v-belts, hoses, and adhesive solutions. The range of diverse products makes it one of the best Tubeless Tyres Stocks to buy.
Product and services
Dunlop India Ltd caters to an array of customers in the country. Among these categories, TRUCK/BUS, FARM, and OTR products have been well received in the market.
Besides moving into State Transport, Dunlop has diversified into other large commercial enterprises.
Many well-known OEMs have also contracted with Dunlop to provide their tyres. These stocks are good for long-term investment plans according to their fundamental analysis.
Falcon Tyres – Top 10 Tyre Shares to Buy
Falcon Tyres Limited is one of the Top 10 Tyre Shares to buy in India. It is a public company that was founded on November 29, 1973.
It operates as a public limited company and is Karnataka-based. Falcon Tyres is a non-government organization registered with the Bangalore Registrar of Companies.
It has a total paid-up capital of INR 38.74 crore and an authorized share capital of INR 100.00 crore. The operating revenues of Falcon Tyres for the fiscal year ending March 31, 2015, ranged from INR 1 cr to INR 100 cr.
Falcon manufactures and sells a wide range of nylon bias-ply tyres and butyl tubes. They make tyres for 2 and 3 wheelers, passenger cars, jeeps, light vehicles, and farm vehicles.
They trade in India under the DUNLOP brand and Falcon and Donin brands in export markets. In 2 or 3wheeler categories, they provide an unrivaled selection of patterns.
Their design and construction easily meet the diverse needs of the customers.
Falcon is the preferred vehicle of India’s leading vehicle manufacturers. That includes Hero Honda, Bajaj, Piaggio, Mahindra, India Yamaha, Royal Enfield Ltd.
The company has signed a Technical Aid Agreement with Sumitomo Rubber Industries Ltd. of JAPAN.
That will provide it with access to the most recent international technology. It will also get new product lines, improved product quality, and the best processes.
Falcon’s goal is to provide excellent customer satisfaction. They aim to provide the highest standards of service excellence and world-class products.
So, Falcon is a good choice if you search for Tubeless Tyres Shares to buy.
Product and services
Motorcycle, Motorcycle Tubeless, Scooter, Piaggio Vehicles Tyre, and Royal Enfield Motorcycle Tyre.
Krypton Industries – Tyre Sector Stocks to Buy
Krypton Industries Limited was established in 1990 to produce polyurethane (PU) bicycle tyres. The company has diversified its product range over time.
They did that, keeping market demand and needs in mind to cater to various industry segments. The company aims to expand with its capabilities and utilize strategic outsourcing.
The company has begun to establish a national network for its footwear-related products. It currently has distributors in all eastern India’s states. That list includes Andhra Pradesh and Tamilnadu.
In many countries, Krypton has a dealer distributor network. Australia, Africa, Far East Asia, Europe, North America, and India sell Krypton Tyres.
Since this year, the company has shifted its focus from being a part supplier. Instead, it is turning into a full-service product manufacturer. It will allow it to serve its customers as a one-stop-shop.
Products and Services
Krypton Industries produce OEM components and spare parts for the rehabilitation industry. They also make parts for the industrial and bicycle industries.
Their product line includes PU Tyres, PU Inserts, Foam Filled Tyres, PU, and Plastic Parts. They also sell PU Molded and Die Cast Rims, various Wheels, and Castor Assemblies.
Why invest in Krypton Industries Stocks?
- A share of Krypton Industries is currently trading at 22.95 as of January 18, ’22.
- The market capitalization of a publicly-traded company represents its share price. As of January 18, 22, Krypton Industries’ market cap was 3.80 Cr.
- Krypton Industries has PE and PB ratios of 21.97238 and 1.29589 as of January 18, 22, making it a profitable Tyre Sector Stocks to buy.
Govind Rubber – Tyre Companies Stocks to Buy
Govind Rubber Ltd. (GRL) began operations in 1981. GRL’s operations have expanded dramatically over the years. It currently employs over 6,000 people.
It has an installed production capacity of over 60,000 Metric Tons per year. Govind Rubber is a subsidiary of the Siyaram Poddar Group. It is a large industrial conglomerate (SPG).
The company deals in a wide range of products, including tyres, textiles, and paper. It has earned customer trust and goodwill in international and domestic markets.
GRL is doing great in replacement markets around the world, with prestigious OEMs as well.
Products and services
GRL produces Nylon Cross Ply (Bias Type) Auto Tires for Mining, Forklifts, and Light Trucks.
Their product line includes Pickup Vans, Trailers, Motorcycles. Scooters and mopeds, trailers, tractor farms, and so on.
Why invest in Govind Rubber Stocks?
- As of January 18, ’22, Govind Rubber shares are trading at 72.65.
- Govind Rubber’s market capitalization is $644 million as of January 18, 22.
- The company has PE and PB ratios of 0.0354 and 0.11767 as of January 18 ’02:
- Govind Rubber Ltd. stock is a good, low-risk 1-year investment option if you’re looking for a Tyre Companies Stocks to buy.
- The real-time quote for Govind Rubber Ltd. is 2.650 INR as of 2022-01-19. So your current investment may gain a lot of value in the future.
How to find Tyre Stocks for Trading?
Timing the market is difficult for anyone if they want to Trade in Tyre Stocks. Every trader wants to make money, but you must learn how to identify profitable tyre stocks to do so.
Every day, thousands of stocks are traded. So, it is not possible to study each one of them individually. However, the following methods have been proven to identify tyre stocks.
- Keep track of the top gainers and losers.
- Take a look at the open highs and lows.
- Keep an eye on the number of trades.
- Increases in the volume are signs of a breakout. Unusual increases in volume – a sign of reversal. Volume reductions result in a loss of momentum.
- Take note of recent market developments.
- Keep an eye on the change in open interest.
- Observe relative performance.
- Stay updated for bulk and block deals.
How to Invest in Tyre Sector Stocks in India?
Here’s an informative guide on how to invest in tyre stocks.
- To invest or trade, you must first have a Demat account and a trading account.
- Then, select a reputable broker and open a trading account with them.
- Following that, you must download a trading platform. Food stocks can be traded on any trading platform. So, you can get started right away after downloading a trading terminal.
- After downloading the trading platform, you need to configure it for easy investing.
- For smooth trading, you should create a market watch list. Then, add your desired tyre stock to the watchlist.
- Then, to be notified of every price change set alerts and notifications.
- When you are done with the steps, begin researching the tyre stock you want to buy. Then, create a strategy to invest in your chosen stock after you’ve finished your research.
Best Tyre Stocks to buy in India – Conclusion
In this article, we discussed vividly why it is worthwhile to invest in top tyre companies in India.
Stock investments are risky and should be handled with caution. That is why you should refrain from following other people’s directions when investing.
You should research the market on your own and make your own decisions. After reading this article, you know the parameters and factors you should take into consideration.
Keep the tips in mind and study the market carefully. Have a great time investing!
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