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Author: Sharad

Ceat Q3 sales and margins up

Indian tyre major Ceat’s consolidated net sales for the third quarter FY 17-18 grew by 12.6% YoY to Rs 1574 crores. On a consolidated basis, the company EBITDA for Q3 grew by 23% (YoY) to stand at Rs 195 crore and PAT during the quarter stood at Rs. 82 crore. On a standalone basis, the company’s India operations reported net sales of Rs. 1549 crore, up by 12% YoY, PAT of Rs. 91 crore and EBIDTA of Rs. 138 crores, up by 14.2% YoY. Anant Goenka, Managing Director, CEAT Limited said “We witnessed steady growth in our topline driven...

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Increase in import duties on Truck Radial tyres will help domestic Industry: JK Tyre MD

Commenting on the  the Budget presented today, Dr. Raghupati Singhania, Chairman & MD, JK Tyre & Industries Ltd., and Vice President, JK Organisation, “The Budget 2018-19, as anticipated, has put major thrust on the Agro Rural economy. The allocation of nearly Rs. 15.7 lac crores to this sector, which is almost 10% of the GDP, is many times higher than that in the previous year. The various measures to put in place a mechanism to boost farmers’ income, higher credit for agri sector, creating clusters for horticulture crops and supporting food processing, will give a tremendous boost to agro...

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ZC Rubber conducts Thai dealer meeting; targets to increase mkt share

ZC Rubber  organized a conference for its dealers and partner in Thailand to improve the market share in local tyre market. Held in Bangkok, the conference , titled More Progress More Achievement, was the first dealer meeting of the conference in 2018. In 2017, the Chinese tyre company’s sales revenue increased 22%. It also  increased production capacity for truck and bus radial tyres and  passenger car & light truck tyres by 13.6% to 17.2 million units per year and 20.7% to 32.5 million units per year respectively last year. Two-wheeler tyre output was expanded by 14.6% to 94.1 million...

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Pit Stop and Point S Germany join hands

Pit Stop and Point S Germany merged their respective networks through the membership of Pit Stop to the Point S German and International network. Point S is a worldwide network covering 4 continents (Europe, America, Asia and Africa), 33 countries with 3.600 locations. In a release, Point S said that  both networks will benefit from a consolidated purchasing policy on tyre supply as well as a common fleet program supported by 870 retail locations across the country. The Point S Group is now representing with Pit Stop, AutoMeister and Point S outlets. Stefan Kulas, Pit Stop CEO & owner,...

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Goodyear Tire to declare Q4 results on Feb 8

Goodyear Tire & Rubber Company will report fourth quarter 2017 financial results on Feb. 8. The announcement will be followed by an investor conference call at 8:30 a.m. Richard J. Kramer, chairman, chief executive officer and president; and Laura K. Thompson, executive vice president and chief financial officer will take part in the...

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