Despite a slower growth in profitability, Indian tyre companies performed well on the export front during April-February of the last financial year. Cumulative exports in all categories increased 20 per cent during the period, with a 29 per cent increase in the passenger car segment. A 340 per cent jump was recorded in scooter (two-wheeler and moped) segment.
According to the latest data on exports, compiled by the Automotive Tyre Manufact-urers Association (Atma), total exports across all categories of tyres increased to 7.2 million, against 5.8 million in the same period of the previous financial year.
The cumulative figure of scooter tyres increased to 145,321, against 43,450 tyres in the same period of 2010-11. A total of 31,975 tyres were shipped in February alone, while only 1,219 were shipped in February 2011.
In the passenger car segment, total shipments were 1.4 million, against 1.2 million in the same period last year, recording growth of 29 per cent. Exports in truck/bus tyres were two million, against 1.78 million tyres. A total 108,482 jeep tyres were exported, as against 83,611 in the same period of the previous financial year.
Total tyre production in the 11-month period was 114 million as against 98 million in the same period of 2010-11, a growth of 14 per cent. Passenger car tyre production crossed 25 million, while 14 million truck/bus tyres were produced. Production of LCV tyres crossed six million during April-February period, according to Atma data. Forty million motorcycle tyres, 7.9 million three-wheeler tyres and 12 million two-wheeler tyres were manufactured.
The industry plunged into the red during the third quarter of the last financial year and suffered a net loss of Rs 32.06 crore. This is against a net profit of Rs 178.8 crore in Q3 of FY11.
All the leading eight companies, except MRF, had suffered a fall in net profit in Q3, led by Birla with a net loss of Rs 182.05 crore. Only MRF registered slight improvement in profit at Rs 112.9 crore, as against Rs 102.2 crore in Q3 of 2010-11.