India: Tyre makers’ operating profits to exceed pre-corona levels

According to S&P Global’s CRISIL Ratings, the tyre industry will be one of the few sectors in India where operating profits surpass pre-crisis levels. Examining its rating of the country’s six leading tyre manufacturers, CRISIL forecasts that their operating profit will grow by six to eight per cent in the 2021 fiscal year (1 April 2020 to 31 March 2021), with favourable input prices and higher realisations helping to offset a four to six per cent decline in volumes.