GOODYEAR

Aug 11 (Reuters) - Goodyear India Ltd GDYR.BO:

• Q1 PROFIT 141.1 MILLION RUPEES

• Q1 REVENUE FROM OPERATIONS 6.56 BILLION RUPEES

Source text: ID:nBSEbzY48n

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July 4 (Reuters) - Goodyear India Ltd GDYR.BO:

• GOODYEAR INDIA LTD - BOARD REVIEWS REPORT BY ERNST & YOUNG LLP

• GOODYEAR INDIA LTD - REVIEW IDENTIFIES POTENTIAL THEFT OF TYRES BY WORKERS

• GOODYEAR INDIA LTD - FINANCIAL IMPACT OF INVENTORY SHORTAGE RECOGNIZED IN Q4 2024

• GOODYEAR INDIA LTD - MANAGEMENT INITIATED LEGAL AND DISCIPLINARY ACTIONS AGAINST THOSE INVOLVED

Source text: ID:nBSE40MXRS

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May 27 (Reuters) - Tyremaker Goodyear India GDYR.BO reported a profit in the fourth quarter on Tuesday, as higher replacement demand for tyres offset the impact of higher rubber prices.

U.S.-based Goodyear Tire's GT.O Indian unit posted a profit of 48.7 million rupees ($570,578) for the three months ended March 31 against a loss of 42.1 million rupees a year ago.

Goodyear India supplies tyres to BMW BMWG.DE and Toyota 7203.T among others and depends on automakers' sales for a major chunk of its revenue.

Total vehicle sales in India rose 1.8% year-over-year in the reported quarter but analysts said that demand for replacing old or worn out tyres sustained.

Rival CEAT CEAT.NS missed its quarterly profit estimates last month, while MRF MRF.NS beat estimates.

Goodyear India's revenue from operations rose 9.5% to 6.03 billion rupees, compared to a 15.6% fall last year.

Its total expenses grew 7.2%, led by a 28.7% rise in cost of materials consumed.

The company had expected a pick up in replacement demand, which is cyclical in nature, in the fiscal year ending March.

Its shares closed 1.6% higher before the results.

($1 = 85.3520 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)

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March 27 (Reuters) - Goodyear India Ltd GDYR.BO:

• SUNIL MODI RESIGNS AS INTERIM CFO EFFECTIVE APRIL 06, 2025

• APPOINTS SANDEEP GARG AS CFO EFFECTIVE APRIL 07, 2025

Source text: ID:nBSEbn9M1G

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Dec 30 (Reuters) - Goodyear India Ltd GDYR.BO:

• APPOINTS ARVIND BHANDARI AS CHAIRMAN OF THE BOARD

• APPOINTS ARVIND BHANDARI AS ADDITIONAL DIRECTOR AND MANAGING DIRECTOR

Source text: ID:nBSE4sw28q

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Dec 23 (Reuters) - Goodyear India Ltd GDYR.BO:

• GOODYEAR INDIA LTD - TEMPORARILY CLOSES BALLABGARH PLANT FOR MAINTENANCE

Source text: ID:nBSE6J75NY

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Nov 11 (Reuters) - Goodyear India Ltd GDYR.BO:

• GOODYEAR INDIA LTD - APPOINTS VARSHA CHAUDHARY JAIN AS CHAIRPERSON

Source text: ID:nBSE54n8m0

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Oct 22 (Reuters) - Goodyear India Ltd GDYR.BO:

• SEPT-QUARTER PROFIT 157.4 MILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 6.82 BILLION RUPEES

• EXPECT CONTINUED GROWTH IN RURAL ECONOMY IN COMING QUARTERS

Source text for Eikon: ID:nBSE9SDJHp

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Sept 25 (Reuters) - Goodyear India Ltd GDYR.BO:

• GOODYEAR INDIA - GETS TAX DEMAND OF 22.3 MILLION RUPEES, INTEREST OF 13.4 MILLION RUPEES

Source text for Eikon: ID:nBSE9F3hC0

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** Shares of Goodyear India GDYR.BO down 5.5% to 1,143.5 rupees, its steepest one-day pct fall since early-Feb

** Tires and tubes maker posted Q4 loss of 42.1 million rupees ($506,329) vs profit of 336.1 mln rupees yr ago

** Co's total expenses came in at 5.6 bln rupees, down 8% Y/Y; rev, however, fell 15.6% to 5.54 bln rupees

** More than 18,000 shares traded, ~3x its 30-day avg

** Stock down 6.44% in last 12 months, compared to a ~50% and 72.6% rise in MRF MRF.NS and CEAT CEAT.NS

($1 = 83.1475 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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May 27 (Reuters) - Goodyear India Ltd GDYR.BO:

• MARCH-QUARTER LOSS 42.1 MILLION RUPEES VERSUS PROFIT 336.1 MILLION RUPEES

• MARCH-QUARTER REVENUE FROM OPERATIONS 5.51 BILLION RUPEES VERSUS 6.53 BILLION RUPEES

• FINAL DIVIDEND 15 RUPEES PER SHARE

• MANISH MUNDRA RESIGNS AS CFO

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May 2 (Reuters) - Goodyear India Ltd GDYR.BO:

• MANISH MUNDRA HAS TENDERED HIS RESIGNATION AS CFO

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BENGALURU, Feb 2 (Reuters) - Tyremaker Goodyear India GDYR.BO reported its first quarterly profit drop in five quarters on Friday, hurt by subdued demand in its farm segment.

The Indian unit of U.S.-based Goodyear Tire GT.O said its standalone profit fell 10.5% to 218.6 million rupees ($2.6 million) in the third quarter.

Revenue from operations fell 14.2% to 5.91 billion rupees, declining for the third quarter in a row.

"We witnessed a significantly weak quarter in the farm segment with the tractor industry recording substantial year-over-year degrowth," Sandeep Mahajan, chairman and managing director, said in a statement.

Even though the cost of materials, which accounts for the majority of total expenses, fell 8.8% in the quarter, it could not help lift the bottom line. Total expenses declined 14% to 5.66 billion rupees.

But, the company said its cost management and improving product range partially offset the impact of higher raw material costs and lower volumes.

Analysts have also noted that tyremakers are grappling with rising costs of raw materials such as rubber as well as carbon black, which is used as a colorant.

Last month, rival CEAT CEAT.NS posted a bigger-than-expected rise in profit as price hikes made up for an increase in raw material costs and a slow recovery in sales growth.

Apollo APLO.NS and MRF MRF.NS are yet to report their financial results for the quarter.

Goodyear's shares closed up 0.5% ahead of the results. They have risen about 18.4% in the past year, while MRF, Apollo and CEAT have risen between 40% and 48%.

($1 = 82.8850 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Eileen Soreng)

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BENGALURU, Oct 27 (Reuters) - Tyre manufacturer Goodyear India GDYR.NS reported a 40% rise in second-quarter profit on Friday as its raw material spends declined.

Standalone profit for the Indian unit of U.S.-based Goodyear Tire and Rubber Co GT.O rose to 379.4 million rupees ($4.6 million) in the three months to Sept. 30 from 271 million rupees a year earlier.

Rubber prices have contracted sequentially for the second quarter in a row as production and consumption in China, which consumes about 40% of global natural rubber, has been sluggish, according to analysts.

Goodyear's total expenses fell more than 12%, led by nearly a 30% decline in input costs, while revenue dropped about 10% to 6.90 billion rupees.

Poor monsoons have made commercial vehicles such as tractors less affordable for India's rural population, hurting automakers and auto-ancillary companies.

Goodyear has reported a profit climb in each of the last five quarters.

Rival CEAT CEAT.NS earlier this month reported soaring second-quarter profit, while other peers MRF MRF.NS, JK Tyre and Industries JKIN.NS and Apollo Tyres APLO.NS will report next month.

($1 = 83.2070 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami)

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** Shares of MRF MRF.NS rise as much as 3.31% to a record high of 105,989 rupees

** The tyre manufacturer reported a more than five-fold jump in June-qtr profit from cont. ops to 5.81 billion rupees while rev from ops rose 12.9% YoY

** Co also approved re-appointment of K M Mammen as managing director

** Share price above 50-day, 100-day and 200-day exponential moving averages since April 27, suggesting bullish trend

** More than 11,000 shares change hands by 1 p.m. IST, 2.3x 30-day avg

** Other tyre companies, Goodyear India GDYR.NS and CEAT CEAT.NS too have reported rise in their qtrly profit on the falling rubber prices

** Avg rating of 10 analysts equivalent to "sell", median PT is 79,200 rupees - Refinitiv data

** Including session's gain, stock up 19.1% YTD

(Reporting by Ashish Chandra in Bengaluru)

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BENGALURU, Aug 2 (Reuters) - Tyre manufacturer Goodyear India GDYR.NS reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand.

The Indian unit of U.S.-based Goodyear Tire and Rubber Co GT.O said standalone profit rose 4% to 392.6 million rupees ($4.8 million) in the first quarter.

While revenue from operations fell about 12% to 7.2 billion rupees, that was more than offset by a roughly 13% drop in expenses due to lower raw material prices.

Rubber prices, a key raw material for the tyre industry, have fallen by about 20%-25% over the last year through May, according to HDFC Securities.

However, Goodyear's revenue was hurt by lower sales volumes due to subdued demand and index-based price reduction to vehicle makers, the company said.

The company sells tyres to both car and other passenger vehicle makers as well as to commercial vehicle makers, especially tractor makers, whose sales have suffered this quarter.

While automaker Maruti Suzuki India MRTI.NS reported strong sales, the likes of Mahindra and Mahindra MAHM.NS and Escorts Kubota ESCO.NS have reported a drop in tractor sales.

"While the current economic environment remains challenging, we expect the industry to bounce back, specially in the light of good monsoon which should help stimulate the rural demand", said Goodyear India Chairman and Managing Director Sandeep Mahajan.

The company's larger rival CEAT CEAT.NS, however, reported a near 16-fold jump in profit as rubber prices fell and demand for passenger vehicles climbed. MRF MRF.NS and JK Tyre JKIN.NS will report results later this week.

Goodyear India's shares ended the day nearly 3% lower, ahead of the results, but have gained 24.5% so far this year. CEAT's shares have surged nearly 50% in that period, while MRF has risen 16% and JK Tyre 38%.

Goodyear Tire and Rubber will report its quarterly results later in the day.

($1 = 82.5440 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Savio D'Souza)

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BENGALURU, May 29 (Reuters) - Tyre manufacturer Goodyear India Ltd GDYR.NS on Monday reported a near two-fold rise in fourth-quarter profit, helped by lower raw material costs and growing demand for automobiles in the country.

The company's standalone profit rose to 336.1 million rupees ($4.1 million) for the quarter ended March 31, from 173.9 million rupees a year ago, it said in an exchange filing.

Revenue from operations rose 9.1% to 6.53 billion rupees, while cost of materials consumed fell 5.4%, the Indian unit of Goodyear Tire and Rubber Co GT.O said.

Indian automakers recorded higher sales in the March quarter as consumers snapped up vehicles ahead of price increases due to implementation of tighter fuel emission norms, which also boosted demand for tyre makers.

Additionally, rubber prices have softened 3% from the December quarter, and the easing prices were reflected in the company's bottom line.

Goodyear's parent company, however, posted a loss of $101 million during the quarter, with revenue up by a marginal 0.7%.

"The growth is driven by better demand in OE segment. Decrease in raw material costs, coupled with cost efficiencies, drove higher profitability in the quarter," said Sandeep Mahajan, chairman and managing director of Goodyear India.

The company's total expenses grew 5.4% to 6.10 billion rupees.

Goodyear's results were largely in line with larger peers JK Tyre JKIN.NS, Apollo Tyres Ltd APLO.NS and MRF Ltd MRF.NS whose profits rose between two- and four-fold in the quarter.

Additionally, the company recommended a final dividend of 26.5 rupees per share for the financial year ended March 31.

Shares of the company rose 1.82% at 1,280 rupees after the results.

($1 = 82.6149 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Varun H K)

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