NSE: GOODYEAR · BSE: 500168
GOODYEAR INDIA LIMITED
Makes and sells tyres for passenger cars and farm vehicles in India. The passenger car range includes the Eagle F1 Asymmetric 6 and Eagle F1 Asymmetric 6 SUV, launched in April 2026, while the farm range was extended in June 2026 with the Ultra Grip tractor tyre, showcased to around 100 dealers at a Chandigarh event. Tyres are manufactured at Aurangabad by a related-party manufacturer, Goodyear South Asia Tyres Pvt Ltd, and sold into the domestic replacement market through dealer networks. The largest cost line is raw materials at Rs 950.59 crore, or 38.4% of FY26 revenue, followed by other operating expenses at Rs 391.38 crore (15.8%) and employee costs at Rs 201.75 crore (8.1%). Revenue for FY26 stood at Rs 2,475.88 crore, down about 5% year-on-year, while profit after tax rose to Rs 61.5 crore. The business carried no debt and set a net-zero emissions target by 2050, with a 46% cut in Scope 1 and 2 emissions by 2030, in its FY26 BRSR filing. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Passenger car tyres, Farm tyres. Tyre brand with zero debt, related-party manufacturing, replacement-market focus in India.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,436 | 2,928 | 2,552 | 2,608 | 2,476 |
| EBITDA (ex other income) | 172 | 207 | 171 | 117 | 119 |
| margin % | 7.1 | 7.1 | 6.7 | 4.5 | 4.8 |
| Owners' profit | 103 | 123 | 95 | 55 | 62 |
| EPS, as reported (₹) | 44.61 | 53.26 | 41.12 | 23.90 | 26.66 |
| ROE % · ROCE % | 14.4 · 18.9 | 20.3 · 26.4 | 16.3 · 21.5 | 9.1 · 12.1 | 10.1 · 13.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 89 | 112 | 135 | 131 | 112 |
| Capex | (73) | (111) | (55) | (24) | (14) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 691 | 682 | 632 | 603 | 656 | 596 | 607 | 616 |
| Profit before tax | 33 | 21 | 13 | 7 | 19 | 18 | 33 | 13 |
| Net profit | 25 | 16 | 9 | 5 | 14 | 13 | 25 | 10 |
| EPS (₹) | 10.85 | 6.82 | 4.11 | 2.11 | 6.12 | 5.67 | 10.68 | 4.20 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MRF LTD | 50,055 | 20.7 | 2.39 | 9.8 | 11.6 | 14.0 | 14.0 | 14.1 |
| BALKRISHNA IND. LTD | 40,512 | 28.8 | 3.70 | 17.5 | 11.3 | 13.0 | 13.4 | 24.4 |
| APOLLO TYRES LTD | 24,642 | 14.4 | 1.47 | 8.1 | 8.2 | 6.2 | 10.4 | 12.8 |
| CEAT LIMITED | 12,546 | 21.5 | 2.48 | 7.7 | 13.8 | 12.8 | 15.6 | 8.4 |
| JK TYRE & INDUSTRIES LTD | 8,792 | 13.2 | 1.45 | 6.8 | 12.8 | 9.9 | 12.4 | 7.1 |
| TVS SRICHAKRA LIMITED | 3,199 | 34.6 | 2.69 | 13.3 | 6.0 | 6.3 | 13.4 | 8.8 |
| GOODYEAR INDIA LIMITED ◆ | 1,573 | 25.6 | 2.60 | — | 10.1 | 12.2 | — | 4.3 |
| MEGAMONT LIMITED | 537 | 58.4 | 15.89 | 56.5 | 18.4 | 21.3 | — | 2.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.6 | 25.6 | 7 of 13 | 50% |
| P/B | 2.6 | 2.4 | 10 of 16 | 40% |
| ROCE | 12.2 | 9.9 | 8 of 17 | 56% |
| ROE | 10.2 | 9.0 | 7 of 16 | 60% |
| Debt / Equity | 0.0 | 0.4 | 1 of 16 | 100% |
| EBITDA margin | 4.3 | 7.6 | 13 of 16 | 20% |
| Revenue growth | 2.3 | 10.1 | 11 of 15 | 29% |
| Profit growth | 99.0 | (5.8) | 5 of 16 | 73% |
| Market cap | 1573 | 326 | 7 of 17 | 63% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY26-27 Results | compliance | minimal | — | — |
| 13 Aug 2026 · Publication of Q1 FY27 financial results in newspapers | compliance | minimal | — | — |
| 12 Aug 2026 · Goodyear India Q1 FY27: Revenue up 18% YoY, PAT falls 54% on margin pressure | results | high | — | — |
| 12 Aug 2026 · Goodyear India Q1 FY27: revenue up 18%, PAT falls 54% to Rs 651 lakh | results | high | — | — |
| 4 Aug 2026 · Board meeting on Aug 12, 2026 to consider Q1 FY27 unaudited results | results | low | — | — |
| 18 Jul 2026 · AGM notice and e-voting info published in newspapers | compliance | minimal | — | — |
| 17 Jul 2026 · Goodyear India files Reg 74(5) compliance certificate for Q1 FY27 | compliance | minimal | — | — |
| 17 Jul 2026 · Goodyear India files Business Responsibility and Sustainability Report for FY 2025-26 | compliance | minimal | — | — |
| 17 Jul 2026 · Goodyear India 65th AGM notice: Rs 26.50 dividend, director pay and appointments | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.