Goodyear India Ltd has reported a five per cent increase in its total revenue at INR 603 crore in the fourth quarter, compared to the revenue for the same quarter last year. The company said in a statement that the gross margin was negatively impacted by higher cost of goods sold due to increased raw material prices across all categories. Other expenses were impacted by a steep rise in fuel prices, it said. 

It posted a profit after tax (PAT) of Rs 17 crore in the fourth quarter, a decrease of 60 per cent compared to profit of Rs 43 crore for the same quarter last year. The PAT as a percentage of revenue was 2.9 per cent, down from 7.5 per cent in the same period last year, it said. 

Sandeep Mahajan, Chairman & Managing Director of Goodyear India Ltd, said, “The overall business environment remains challenging. We’re focused on offsetting high inflation with pricing and cost actions, expanding our distribution, and capturing opportunities for driving profitable growth. Despite the demand impact from the most recent Omicron wave, our consumer replacement business continues to perform well with steady year-over-year growth, leveraging the strength of the Goodyear brand and our industry-leading products. While our value proposition for farm tyres also remains strong, demand was impacted in the quarter.” 

The company said its total revenue for the financial year 2021-22 was at INR 2,459 crore, a 36 per cent increase from last year. 

The profit after tax was at INR 103 crore in FY 2021-22, a decrease of 24 per cent when compared with profit of INR 136 crore a year ago. The company said the gains from higher volume and pricing were offset by increased raw material cost across all categories and a steep rise in fuel prices. 

As of March 31, 2022, the company had cash and bank balance of INR 390 crore. In comparison, it had INR 597 crore cash as of March 31, 2021. During the year, the company had declared a special dividend of INR 80 per share in August 2021 related to FY 2020-21, resulting in outflow of INR 185 crore. 

The board has recommended a total dividend of INR 100 per equity share of INR 10 each (final dividend of INR 20 per share and a special dividend of INR 80 per share) for the financial year 2021-2022 subject to the approval of the members at the ensuing Annual General Meeting, the release added. (TT)

As part of a strategic effort to increase its presence in the region's premium original equipment (OE) market, Kumho Tire has confirmed its plans to establish its first tyre production facility in Europe by 2027.

The company has shortlisted Poland, Serbia and Portugal as possible locations for the plant, which is projected to need an investment of more than KRW1 trillion (USD 705 million). The decision is closely linked to Kumho’s ambition to strengthen its partnerships with European automakers and was revealed by Kumho Tire CEO during the South Korean premiere of Kumho's new Ecsta Sport tyre line.

Kumho has recently secured OE supply contracts with major brands such as Mercedes-Benz, BMW and Volkswagen Group. At the moment, Kumho runs eight tyre production plants in China, Vietnam, South Korea and the US. Its capacity to compete in the premium OE market, however, has come to be perceived as being constrained by the absence of a European production base. Through the benefits of local production, the new facility will improve response to European client requests, save freight costs and shorten delivery times, all of which will strengthen the company's partnerships.

Sentury Tire USA has opened pre-enrolment for its two associate dealer programmes (ADPs), the Delinte HYPERDRIVE Associate Dealer Program and the Landsail Elyte Associate Dealer Program, underscoring the company’s commitment to rewarding dedication and partnership to the Landsail and Delinte brands.

The ADPs, which are customised for each brand and intended to encourage dealers, will formally start on 1 June 2025. Both programmes give dealers access to special benefits, incentives and strong tools to help them expand their businesses. This involves dependable customer service, effective marketing and worthwhile financial incentives to promote dealers' success at every stage.

Beginning in Q3, dealers may earn up to USD three per tyre through the Delinte HYPERDRIVE Associate Dealer Program. Dealers can receive retroactive benefits for purchases completed in Q2 if they register before 1 June. The awards are available for all Delinte PTR, LTR and the new DV3 LMD AS last-mile delivery tyres. For all Landsail PTR and LTR tyres, independent dealers that sign up for the Landsail Elyte Associate Dealer Program can also earn up to USD three per tyre. For customers who sign up by June 1, the new LMD 100 AS last-mile delivery is also eligible for the benefits and will get the same early bird incentive for Q2 2025.

No initial order is necessary. Dealers only need to register to begin making money. According to the monthly programme rewards structure, 48 tyre purchases each month are eligible for a reward of USD one per tyre, 120 tyres are eligible for a reward of USD two per tyre and 240 or more tyres are eligible for a reward of USD three per tyre.

ENSO, a London-based tyre manufacturer engaged in the production of sustainable tyres specially designed for electric vehicles (EVs), has launched its new ENSO Premium range of EV-specific ultra-high-performance (UHP) tyres aimed at drivers of high-performance EVs such as the Tesla Model 3 and Model Y.

Specifically designed for electric passenger vehicles, the ENSO Premium range comes with A/A EU-label ratings for both energy efficiency and wet grip. The tyres are designed to provide safety, increased range and a reduced total cost of ownership. Conventional tyre designs frequently fall short of the special performance needs of electric vehicles, which include greater vehicle weight, regenerative braking and higher torque loads. By lowering tyre wear and rolling resistance, ENSO Premium takes care of these issues.

The company is an authorised provider of replacement tyres for LEVC's electric taxis and has partnered with Uber to install its tyres in high-mileage metropolitan areas. The company now plans to grow throughout Europe and North America, and with ENSO Premium, it is now offering its services to individual EV owners throughout the United Kingdom. According to ENSO, the range offers advantages including longer tyre life and fewer replacements, lower energy usage, fewer charging stops and lower CO₂ emissions and tyre particle pollution.

Gunnlaugur Erlendsson, CEO and Co-Founder, ENSO, said, “We’re plugging a long-standing gap in the tyre market by offering EV drivers a purpose-built, affordable, premium EV tyre alternative that matches the innovation of their EV.”

Kraton Corporation, a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, has announced a general price hike in North America for its SBS, SIS and HSBC product lines with effect from 1 May 2025.

Following a careful analysis of the effects of recently implemented tariffs, related cost increases and a conclusion that the company cannot independently absorb these repercussions, Kraton is adopting these pricing hikes, according to a company statement. The company further said that it will keep an eye on the scene and reassess these measures promptly in the event that conditions and US import tariffs alter.