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Can tyre companies be part of your long-term portfolio?

As raw material prices soften and chip shortage eases, tyre companies are ready to roll, given the strong demand outlook

November 23, 2022 / 09:23 AM IST
Can tyre companies be part of your long-term portfolio?

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Tyre companies posted a decent set of numbers in Q2 FY23 Replacement demand remains healthy Raw material prices have started softening, will improve profitability CVs are in for a long ride; PVs and 2Ws are also gaining pace Accumulate with a long-term view Tyre manufacturers such as CEAT (CMP: Rs 1,703, M Cap: Rs 6,890 crore), Apollo Tyres (CMP: Rs 284, M Cap: Rs 17,800 crore), and MRF (CMP: Rs 89,171, M Cap: Rs 37,800 crore) are coming out of the woods with the...

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