CEAT reported a jump in its consolidated net profit and revenue from operations for the first quarter ending on 30th June 2023. Consolidated net profit for Q1 FY 2023-24 stood at INR 1. 44 billion against INR 88.6 million in the year-ago period. Consolidation revenue from operations was at INR 29.35 billion as against INR 28.18 billion a year ago.
Commenting on the results and the outlook of the business, Arnab Banerjee, MD & CEO, CEAT, said, “Replacement and International business are looking good with good product - market fit. Our product performance continues to get accepted as superior across key geographies. Better sweating of assets, improved efficiencies through digital interventions and otherwise, shall improve margins going forward.”
On a standalone basis, the Company’s revenue stood at INR 29.21 billion and its EBITDA margin stood at 13.2 percent. Net profit stood at INR 1.59 billion.
Kumar Subbiah, CFO of CEAT Limited, said, “During the quarter, we have focused and optimized on operational efficiencies. Our improved product mix and procurement efficiencies have helped improve our gross margins leading to an improvement in our overall margins both sequentially and year-on-year. Our continuous focus on cash has helped us reduce our debt for the second consecutive quarter, and we have seen a reduction in our standalone gross debt by INR 970 million.”
Giti Tire Celebrates 26 Years Of Motorsport Excellence And Real World Innovation
- By TT News
- May 25, 2026
Giti Tire has marked 26 consecutive years of global motorsport involvement, using high‑pressure racing environments as a live testing ground for engineering innovation and tyre durability. The company’s long‑term commitment spans professional circuits and extreme off‑road terrain, driven by the principle that true performance depends on control, confidence and stability rather than power alone.
Strength combined with intelligence defines the Giti brand, symbolised by the elephant. On the racetrack, this philosophy translates into continuous refinement of tyre performance through every corner and every surface challenge, turning competition into a real‑world technology laboratory.
Over the past 26 years, Giti has competed in a wide range of international disciplines. Since 2009, the company has been a regular participant in the Giti 4x4 Extreme Series, where gruelling off‑road conditions push endurance and durability to their limits. These experiences have directly advanced all‑terrain and SUV tyre technologies.
For the past decade, Giti has also taken part in the legendary Nürburgring endurance races in Germany, one of the world’s most punishing circuits. Insights gained there have improved high‑speed stability, heat management, grip and wet‑weather handling. Giti’s presence extends across Asia and Europe through partnerships with professional racing teams and technical specialists.
Motorsport serves Giti as a catalyst for safer and smarter consumer tyres. Every challenge from desert heat to ice, gravel and rugged terrain accelerates research into durability and high‑speed performance. Technologies proven in racing are later adapted for everyday drivers, reinforcing the company’s focus on sustainability and continuous improvement.
Looking ahead, Giti remains committed to investing in engineering and global racing partnerships as automotive electrification and mobility needs evolve. To commemorate the 26‑year milestone, the company has released a special video highlighting key moments and technological achievements, underscoring that its motorsport journey is not simply about winning races but about pushing boundaries with resilience and precision. Click here to watch the video.
Kumho Tire USA Signs Long-Term Agreement To Support Georgia’s 680,000 Veterans
- By TT News
- May 25, 2026
Kumho Tire USA has formalised a new long-term partnership with the Georgia Department of Veterans Service and the Georgia Veterans Service Foundation through the signing of a Memorandum of Understanding. The agreement aims to serve approximately 680,000 veterans and their families across the state, uniting private industry, state government and a nonprofit organisation under a shared commitment to supporting those who have served in the military.
Under the newly established collaboration, Kumho Tire USA and the Georgia Veterans Service Foundation will work together to identify and deliver programmes designed to create meaningful impact for Georgia’s veteran community. While specific initiatives have yet to be announced, they will be revealed as the partnership continues to develop. The alliance reflects a sustained, active approach to veteran support rather than one-time gestures.
The partnership first drew public attention earlier this year during Kumho Tire Night at State Farm Arena, where Georgia Veterans Service Foundation representatives were honoured as Co-Captains before an Atlanta Hawks game against the Boston Celtics. That moment, occurring ahead of the NBA matchup, symbolised the mutual respect and recognition now codified in the formal agreement.
Edmund Cho, CEO, Kumho Tire USA, Inc, said, "At Kumho Tire USA, we believe that doing business in America means giving back to America. We are honoured to stand alongside the GVSF in this commitment, and we look forward to building something lasting together for Georgia's veterans."
Dr Patricia Ross, Ed.D. (Col, USAF Ret.), Commissioner, Georgia Department of Veterans Service, said, "Georgia's veterans have earned our unwavering support, and partnerships like this one are exactly how we deliver on that promise. We are proud to welcome Kumho Tire USA as a committed partner alongside GVSF, and we look forward to the meaningful work ahead for the veterans and families we serve across this state."
Joe Higgins, Board Chair, Georgia Veterans Service Foundation, said, "The Georgia Veterans Service Foundation exists to connect Georgia's veteran community with the resources and support they deserve, and that work is always stronger when the private sector steps forward as a true partner. We are grateful for Kumho Tire USA's commitment and excited about what this three-way collaboration will make possible."
Sun Auto Tire & Service Expands Midwest Presence With Virden Acquisition
- By TT News
- May 23, 2026
Sun Auto Tire & Service has expanded its Midwest footprint by acquiring the Main Street Tire & Auto location in Virden, Illinois. The transaction took effect immediately, and the newly acquired store will become part of the Sun Auto Network before rebranding under the Plaza Tire Service name.
Plaza Tire Service, a Midwest institution known as the ‘Quick Change Artist’ for more than six decades, will see its Illinois presence strengthened through this addition. The move broadens regional service coverage by integrating a trusted community shop with the extensive resources of a national network. Customers at the Virden location will continue to benefit from familiar local relationships while gaining access to enhanced operational support, advanced technology and customer-focused tools.
The Virden site offers a full range of automotive care, including major tyre brands backed by Sun Auto’s price match guarantee, alignments, brake service, oil changes, batteries, diagnostics and preventative maintenance. This acquisition marks the 16th Plaza Tire Service location in Illinois and supports Sun Auto’s ongoing expansion across key Midwest markets.
Rob Kingery, Regional Vice President, Operations, said "Virden represents an important opportunity to continue growing the Plaza Tire Service brand in Illinois. This location allows us to expand our reach while reinforcing the operational strength and consistency our network is known for."
Pirelli Design And Santini Cycling Unveil 2026 Sport Club Collection
- By TT News
- May 23, 2026
Pirelli Design and cycling apparel leader Santini Cycling have unveiled the Santini x Pirelli Sport Club 2026 collection, an evolution of their partnership launched in 2024. Inspired by the Pirelli Sport Club, founded in Milan in 1922 to encourage employee physical activity, the line celebrates Italian craftsmanship, performance and style.
The 2026 collection expands with fresh garments and graphic updates. Among the technical highlights is the new Fast jersey, engineered for maximum aerodynamics with ultralight fabrics and a second-skin fit. Returning Ruota and Tape models receive refined detailing, while the Pirelli SC jersey now features an all-over logo pattern in black and a new chocolate colourway.
All jerseys have a unisex fit and pair with Pirelli SC bib shorts with a C3 chamois for long-distance comfort. A heritage wool jersey features an embroidered Pirelli logo, mother-of-pearl buttons and a metal zipper. The new road skinsuit maximizes aerodynamic efficiency with breathable upper fabrics, woven striped sleeves and high-density lower section for muscular support.
Technical pieces include baselayers, a packable wind jacket and vest, plus socks, caps and bottles. A lifestyle line offers T-shirts, sweatshirts and casual garments with premium materials and distinctive graphics. The collection unites sporting passion, industrial heritage and design excellence, offering cyclists a cohesive wardrobe for both competition and daily life.
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