Robust Farm, Escalating Demand Boosts Revenue of Goodyear By 50%

INR 43 crore Registered this Year Against INR 13 crore a year ago, Which shows 250% Growth.

The demand of the Robust Farm increased expertise in consumer replacement business, and after the effect of COVID-19, the revenue of Goodyear India Tyre manufacture increased by 50%. The revenue earned INR 574 crore in Q4FY21.  

Profit after tax (PAT) of fourth quarter recorded INR 43 crore in comparison to a year ago recorded 13 crores which expanded by 240%. The upgrade was operated by cost efficiencies, increased factory and higher volumes. 7.6% was profit after tax of sales compared to 3.4% in the same duration previous year. The company notified in a statement to BSE. 

Chairman and Managing Director of the company Goodyear India said, “we get benefit from the continuing incentification in our consumer replacement distribution network. Mainly in rural markets where we are designing strategies with our agriculture business. Our position is strengthening in the market by our distribution initiatives and helps us to make a sustainable business. Our results also indicate growth and momentum in the agriculture segment which is operated by a renewal in rural demand. We try to provide excellent products and good customer services to customers.” 

He added, “We look forward to our strategic and advancing priorities in financial year 2022. The company made strategies to help our communities defeat Covid-19 and with this we provide safeguard to our associates. These two will remain on our priority list.”

The total revenue of the company Goodyear in the Fiscal year 2020-21 was INR 1814 crore. They earned 2% more growth from the last year, in spite of the Covid-19 effect. 

Profit after tax (PAT) this Financial Year 2020-21 was the highest ever of the company in history. The profit after tax was INR 89 crore a year ago, and it increased in this financial year by 53%. The revenue was INR 136 crore. 

The company added, “favourable mix and cost efficiencies mix offset the effect of lower volume because of Covid-19. 

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