20-quarter listed-company comparison

Tyres & Tubes Stocks in India

Tyres & Tubes: MRF Ltd owns the largest revenue base; Rajratan Global Wire Ltd has the fastest current growth.

Nifty Tyres & Tubes Index — Constituents & Performance

The Tyres & Tubes companies below are the listed Indian Tyres & Tubes universe this page tracks — the same constituent set people search for as the Nifty Tyres & Tubes index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Tyres & Tubes moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 7% behind NIFTY 500. Earnings across its companies fell 3% on average over the last four reported quarters.

FADING · −1 in 4w✓Moving with the index1 of 7 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑2w · 1/7 >200d (−1) · 1/7 lead (−1) · EPS 6/7↑

Tyres & Tubes, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.

Together1 of 7 stocks moving

Fresh0 crossed in the last 4 weeks

Backed by scoresmovers score +5 vs the sector average

Down the cap ladder — bar is now, tick is four weeks ago

Large 0/20

Mid 0/20

Small 1/3−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 7 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Tyres & Tubes outperforming NIFTY 500?

The 52-week comparison of Tyres & Tubes against NIFTY 500 is not available from the current market series. 2 of 8 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Rajratan Global Wire Ltd is the strongest against the sector itself at +10.4%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks

—Sector vs NIFTY 500 · 52 weeks

2/8Stocks leading NIFTY 500

4/8Stocks leading sector

Sector metric: 11.1 as of 2026-07-19 · NARROWING · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 2 of 8 covered companies currently have positive Mansfield relative strength versus NIFTY 500. MRF Ltd leads with revenue of ₹31,149 crore, based on 8 of 8 comparable companies through Mar 2026. Rajratan Global Wire Ltd has the fastest current revenue growth at 27.8%, across 8 of 8 comparable companies.

Is the Tyres & Tubes sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 2 of 8 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Tyres & Tubes company is largest by revenue?

MRF Ltd leads with revenue of ₹31,149 crore, based on 8 of 8 comparable companies through Mar 2026.

Which Tyres & Tubes company is growing fastest?

Rajratan Global Wire Ltd has the fastest current revenue growth at 27.8%, across 8 of 8 comparable companies.

Which Tyres & Tubes company has the strongest 4-Factor Sector Score?

CEAT Ltd ranks first at 63.6/100 with 94% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Tyres & Tubes company has the least gross debt?

Goodyear India Ltd has the lowest comparable gross debt at ₹27 crore. JK Tyre & Industries Ltd has the highest at ₹4,882 crore.

Which Tyres & Tubes company has the lowest comparable PEG?

CEAT Ltd has the lowest comparable Guarded PEG at 0.37, among 6 of 8 companies that pass the metric’s comparability rules.

How much history does this Tyres & Tubes comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

₹1.5 L Cr

MRF Ltd

Revenue growing

7/8

positive TTM year-on-year growth

Beating NIFTY 500

2/8

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

CEAT Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 94% evidence confidence.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. CEAT Ltd · CEATLTD

63.6/100 · Mixed-positive evidence · 94% evidence

Exact sum: 22.4 + 13.1 + 15.7 + 12.4 = 63.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.4/35Growth & earnings

Revenue 21.5% · PAT 37.3% · OPM change -2.5 pp

100% evidence

13.1/25Capital efficiency

ROCE 19.2% · debt/equity 0.65×

100% evidence

15.7/20Valuation

P/E 21.2× · PEG 0.37

100% evidence

12.4/20Relative strength

RS sector 5.3% · RS bench -1.8% · 1Y -7.2%

70% evidence

2. JK Tyre & Industries Ltd · JKTYRE

63.3/100 · Mixed-positive evidence · 73% evidence

Exact sum: 26 + 12.3 + 12.4 + 12.6 = 63.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

26.0/35Growth & earnings

Revenue 11.1% · PAT 52.2% · OPM change 3 pp

83% evidence

12.3/25Capital efficiency

ROCE 15.5% · debt/equity 0.81×

80% evidence

12.4/20Valuation

P/E 12.8× · PEG —

50% evidence

12.6/20Relative strength

RS sector 8.7% · RS bench -5.2% · 1Y 9.1%

70% evidence

3. MRF Ltd · MRF

62.6/100 · Mixed-positive evidence · 90% evidence

Exact sum: 19.1 + 20.1 + 16.4 + 7 = 62.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.1/35Growth & earnings

Revenue 10.6% · PAT 29.8% · OPM change 1 pp

88% evidence

20.1/25Capital efficiency

ROCE 15.7% · debt/equity 0.15×

100% evidence

16.4/20Valuation

P/E 22.4× · PEG 0.65

100% evidence

7.0/20Relative strength

RS sector -1.7% · RS bench -8.8% · 1Y -11.7%

70% evidence

4. Rajratan Global Wire Ltd · RAJRATAN

59.0/100 · Mixed-positive evidence · 100% evidence

Exact sum: 20.5 + 10.1 + 8.4 + 20 = 59

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.5/35Growth & earnings

Revenue 27.8% · PAT 40.4% · OPM change 0 pp

100% evidence

10.1/25Capital efficiency

ROCE 13.2% · debt/equity 0.5×

100% evidence

8.4/20Valuation

P/E 31.1× · PEG 1.62

100% evidence

20.0/20Relative strength

RS sector 10.4% · RS bench 17.3% · 1Y 15.9%

100% evidence

5. Apollo Tyres Ltd · APOLLOTYRE

50.7/100 · Mixed-positive evidence · 90% evidence

Exact sum: 18.3 + 16.1 + 11.5 + 4.8 = 50.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.3/35Growth & earnings

Revenue 9% · PAT 22.5% · OPM change 2 pp

88% evidence

16.1/25Capital efficiency

ROCE 13.9% · debt/equity 0.22×

100% evidence

11.5/20Valuation

P/E 13× · PEG 2.16

100% evidence

4.8/20Relative strength

RS sector -4.9% · RS bench -7.2% · 1Y -5.4%

70% evidence

6. Goodyear India Ltd · GOODYEAR

48.3/100 · Mixed-negative evidence · 77% evidence

Exact sum: 18.9 + 16.3 + 8.2 + 4.9 = 48.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.9/35Growth & earnings

Revenue -5.1% · PAT 11.6% · OPM change 3.9 pp

83% evidence

16.3/25Capital efficiency

ROCE 17.4% · debt/equity 0.04×

95% evidence

8.2/20Valuation

P/E 24.9× · PEG —

50% evidence

4.9/20Relative strength

RS sector -17.5% · RS bench -5.2% · 1Y -19.3%

70% evidence

7. TVS Srichakra Ltd · TVSSRICHAK

45.8/100 · Mixed-negative evidence · 90% evidence

Exact sum: 23.3 + 7.3 + 0.3 + 14.9 = 45.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

23.3/35Growth & earnings

Revenue 11.9% · PAT 100% · OPM change 1 pp

88% evidence

7.3/25Capital efficiency

ROCE 7.5% · debt/equity 0.64×

100% evidence

0.3/20Valuation

P/E 43.5× · PEG 5.11

100% evidence

14.9/20Relative strength

RS sector 7.3% · RS bench 7.3% · 1Y 29.5%

70% evidence

8. Balkrishna Industries Ltd · BALKRISIND

35.1/100 · Mixed-negative evidence · 90% evidence

Exact sum: 7.7 + 12.3 + 10 + 5.1 = 35.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

7.7/35Growth & earnings

Revenue 3.6% · PAT -24.9% · OPM change 0 pp

88% evidence

12.3/25Capital efficiency

ROCE 11.2% · debt/equity 0.38×

100% evidence

10.0/20Valuation

P/E 37.8× · PEG 0.66

100% evidence

5.1/20Relative strength

RS sector -3.8% · RS bench -11.7% · 1Y -24.8%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

MRF Ltd has the highest Revenue among the 8 Tyres & Tubes companies compared here, at ₹31,149 crore. Apollo Tyres Ltd is next at ₹28,471 crore. Rajratan Global Wire Ltd has the highest Revenue growth at 27.8%, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: MRF Ltd is the scale leader at ₹31,149 crore, 9.4% ahead of Apollo Tyres Ltd. Rajratan Global Wire Ltd's growth is 27.8% from a ₹1,228 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderMRF Ltd · ₹31,149 crore

Gap9.4% versus #2 · Apollo Tyres Ltd

Persistence8/8 recent comparable periods

Coverage8/8 companies · 144 observations

Investor read: MRF Ltd is the scale benchmark; Rajratan Global Wire Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: MRF Ltd's growth falls below Rajratan Global Wire Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1MRF Ltd MRF₹31.1K Cr

2Apollo Tyres Ltd APOLLOTYRE₹28.5K Cr

3CEAT Ltd CEATLTD₹16.5K Cr

4JK Tyre & Industries Ltd JKTYRE₹16.3K Cr

5Balkrishna Industries Ltd BALKRISIND₹10.8K Cr

Revenue growthfastest growers

1Rajratan Global Wire Ltd RAJRATAN28%

2CEAT Ltd CEATLTD22%

3TVS Srichakra Ltd TVSSRICHAK12%

4JK Tyre & Industries Ltd JKTYRE11%

5MRF Ltd MRF11%

Revenue · company comparison

8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
MRF Ltd MRF	₹8.0K Cr	14%	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	₹7.3K Cr	14%	Mar 2026
CEAT Ltd CEATLTD	₹4.3K Cr	22%	Jun 2026
JK Tyre & Industries Ltd JKTYRE	₹4.2K Cr	12%	Mar 2026
Balkrishna Industries Ltd BALKRISIND	₹2.9K Cr	6.6%	Mar 2026
TVS Srichakra Ltd TVSSRICHAK	₹981 Cr	20%	Mar 2026
Goodyear India Ltd GOODYEAR⚠ unverified	₹616 Cr	2.3%	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	₹318 Cr	29%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021₹5.1K Cr

Dec 2021₹5.7K Cr

Mar 2022₹5.2K Cr

Jun 2022₹5.9K Cr

Sep 2022₹6.0K Cr

Dec 2022₹6.4K Cr

Mar 2023₹6.2K Cr

Jun 2023₹6.2K Cr

Sep 2023₹6.3K Cr

Dec 2023₹6.6K Cr

Mar 2024₹6.3K Cr

Jun 2024₹6.3K Cr

Sep 2024₹6.4K Cr

Dec 2024₹6.9K Cr

Mar 2025₹6.4K Cr

Jun 2025₹6.6K Cr

Sep 2025₹6.8K Cr

Dec 2025₹7.7K Cr

Mar 2026₹7.3K Cr

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021₹2.1K Cr

Dec 2021₹2.0K Cr

Mar 2022₹2.4K Cr

Jun 2022₹2.6K Cr

Sep 2022₹2.7K Cr

Dec 2022₹2.2K Cr

Mar 2023₹2.3K Cr

Jun 2023₹2.2K Cr

Sep 2023₹2.3K Cr

Dec 2023₹2.3K Cr

Mar 2024₹2.7K Cr

Jun 2024₹2.7K Cr

Sep 2024₹2.4K Cr

Dec 2024₹2.6K Cr

Mar 2025₹2.8K Cr

Jun 2025₹2.8K Cr

Sep 2025₹2.4K Cr

Dec 2025₹2.7K Cr

Mar 2026₹2.9K Cr

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021₹2.5K Cr

Dec 2021₹2.4K Cr

Mar 2022₹2.6K Cr

Jun 2022₹2.8K Cr

Sep 2022₹2.9K Cr

Dec 2022₹2.7K Cr

Mar 2023₹2.9K Cr

Jun 2023₹2.9K Cr

Sep 2023₹3.1K Cr

Dec 2023₹3.0K Cr

Mar 2024₹3.0K Cr

Jun 2024₹3.2K Cr

Sep 2024₹3.3K Cr

Dec 2024₹3.3K Cr

Mar 2025₹3.4K Cr

Jun 2025₹3.5K Cr

Sep 2025₹3.8K Cr

Dec 2025₹4.2K Cr

Mar 2026₹4.2K Cr

Jun 2026₹4.3K Cr

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹689 Cr

Mar 2023₹653 Cr

Jun 2023₹720 Cr

Sep 2023₹690 Cr

Dec 2023₹591 Cr

Mar 2024₹551 Cr

Jun 2024₹691 Cr

Sep 2024₹682 Cr

Dec 2024₹632 Cr

Mar 2025₹603 Cr

Jun 2025₹656 Cr

Sep 2025₹596 Cr

Dec 2025₹607 Cr

Mar 2026₹616 Cr

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹3.6K Cr

Mar 2023₹3.6K Cr

Jun 2023₹3.7K Cr

Sep 2023₹3.9K Cr

Dec 2023₹3.7K Cr

Mar 2024₹3.7K Cr

Jun 2024₹3.6K Cr

Sep 2024₹3.6K Cr

Dec 2024₹3.7K Cr

Mar 2025₹3.8K Cr

Jun 2025₹3.9K Cr

Sep 2025₹4.0K Cr

Dec 2025₹4.2K Cr

Mar 2026₹4.2K Cr

Jun 2026—

MRF Ltd · MRF

Sep 2021₹4.9K Cr

Dec 2021₹4.9K Cr

Mar 2022₹5.3K Cr

Jun 2022₹5.7K Cr

Sep 2022₹5.8K Cr

Dec 2022₹5.6K Cr

Mar 2023₹5.8K Cr

Jun 2023₹6.4K Cr

Sep 2023₹6.2K Cr

Dec 2023₹6.2K Cr

Mar 2024₹6.3K Cr

Jun 2024₹7.2K Cr

Sep 2024₹6.9K Cr

Dec 2024₹7.0K Cr

Mar 2025₹7.1K Cr

Jun 2025₹7.7K Cr

Sep 2025₹7.4K Cr

Dec 2025₹8.1K Cr

Mar 2026₹8.0K Cr

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021₹241 Cr

Dec 2021₹222 Cr

Mar 2022₹248 Cr

Jun 2022₹251 Cr

Sep 2022₹225 Cr

Dec 2022₹200 Cr

Mar 2023₹219 Cr

Jun 2023₹204 Cr

Sep 2023₹214 Cr

Dec 2023₹233 Cr

Mar 2024₹240 Cr

Jun 2024₹220 Cr

Sep 2024₹245 Cr

Dec 2024₹218 Cr

Mar 2025₹251 Cr

Jun 2025₹247 Cr

Sep 2025₹294 Cr

Dec 2025₹302 Cr

Mar 2026₹314 Cr

Jun 2026₹318 Cr

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021₹688 Cr

Dec 2021₹677 Cr

Mar 2022₹682 Cr

Jun 2022₹737 Cr

Sep 2022₹834 Cr

Dec 2022₹731 Cr

Mar 2023₹683 Cr

Jun 2023₹702 Cr

Sep 2023₹740 Cr

Dec 2023₹719 Cr

Mar 2024₹765 Cr

Jun 2024₹791 Cr

Sep 2024₹842 Cr

Dec 2024₹803 Cr

Mar 2025₹818 Cr

Jun 2025₹819 Cr

Sep 2025₹926 Cr

Dec 2025₹917 Cr

Mar 2026₹981 Cr

Jun 2026—

Revenue growth · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202230%

Sep 202217%

Dec 202213%

Mar 202320%

Jun 20235.1%

Sep 20235.4%

Dec 20232.7%

Mar 20240.2%

Jun 20241.4%

Sep 20242.5%

Dec 20245.1%

Mar 20252.7%

Jun 20253.6%

Sep 20256.1%

Dec 202512%

Mar 202614%

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202245%

Sep 202228%

Dec 20225.9%

Mar 2023-2.4%

Jun 2023-18%

Sep 2023-15%

Dec 20235.0%

Mar 202416%

Jun 202426%

Sep 20247.4%

Dec 202413%

Mar 20252.6%

Jun 20251.7%

Sep 2025-1.1%

Dec 20256.9%

Mar 20266.6%

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202218%

Dec 202213%

Mar 202311%

Jun 20234.2%

Sep 20235.5%

Dec 20238.7%

Mar 20244.1%

Jun 20248.8%

Sep 20248.2%

Dec 202411%

Mar 202514%

Jun 202511%

Sep 202514%

Dec 202526%

Mar 202623%

Jun 202622%

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-14%

Mar 2024-16%

Jun 2024-3.9%

Sep 2024-1.1%

Dec 20246.8%

Mar 20259.5%

Jun 2025-5.1%

Sep 2025-13%

Dec 2025-3.9%

Mar 20262.3%

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20232.1%

Mar 20241.8%

Jun 2024-2.1%

Sep 2024-7.1%

Dec 2024-0.4%

Mar 20251.7%

Jun 20256.3%

Sep 202511%

Dec 202515%

Mar 202612%

Jun 2026—

MRF Ltd · MRF

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202236%

Sep 202219%

Dec 202215%

Mar 20239.8%

Jun 202313%

Sep 20236.7%

Dec 20239.2%

Mar 20248.7%

Jun 202412%

Sep 202411%

Dec 202414%

Mar 202511%

Jun 20256.7%

Sep 20257.2%

Dec 202515%

Mar 202614%

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202238%

Sep 2022-6.6%

Dec 2022-9.9%

Mar 2023-12%

Jun 2023-19%

Sep 2023-4.9%

Dec 202317%

Mar 20249.6%

Jun 20247.8%

Sep 202414%

Dec 2024-6.4%

Mar 20254.6%

Jun 202512%

Sep 202520%

Dec 202539%

Mar 202625%

Jun 202629%

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202249%

Sep 202221%

Dec 20228.0%

Mar 20230.2%

Jun 2023-4.8%

Sep 2023-11%

Dec 2023-1.6%

Mar 202412%

Jun 202413%

Sep 202414%

Dec 202412%

Mar 20256.9%

Jun 20253.5%

Sep 202510.0%

Dec 202514%

Mar 202620%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Balkrishna Industries Ltd has the highest OPM among the 8 Tyres & Tubes companies compared here, at 22%. MRF Ltd is next at 16%. Goodyear India Ltd has the highest Margin change at +3.9 percentage points, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Balkrishna Industries Ltd leads opm at 22%; Goodyear India Ltd leads margin change at +3.9 percentage points.

LeaderBalkrishna Industries Ltd · 22%

Gap37.5% versus #2 · MRF Ltd

Persistence2/8 recent comparable periods

Coverage8/8 companies · 154 observations

Investor read: Balkrishna Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Balkrishna Industries Ltd BALKRISIND22%

2MRF Ltd MRF16%

3Apollo Tyres Ltd APOLLOTYRE15%

4JK Tyre & Industries Ltd JKTYRE13%

5Rajratan Global Wire Ltd RAJRATAN13%

Margin changefastest expanders

1Goodyear India Ltd GOODYEAR⚠ unverified+3.9 pp

2JK Tyre & Industries Ltd JKTYRE+3.0 pp

3Apollo Tyres Ltd APOLLOTYRE+2.0 pp

4MRF Ltd MRF+1.0 pp

5TVS Srichakra Ltd TVSSRICHAK+1.0 pp

Operating margin · company comparison

8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Balkrishna Industries Ltd BALKRISIND	22%	0.0 pp	Mar 2026
MRF Ltd MRF	16%	+1.0 pp	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	15%	+2.0 pp	Mar 2026
JK Tyre & Industries Ltd JKTYRE	13%	+3.0 pp	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	13%	0.0 pp	Jun 2026
TVS Srichakra Ltd TVSSRICHAK	9.0%	+1.0 pp	Mar 2026
CEAT Ltd CEATLTD	8.5%	−2.5 pp	Jun 2026
Goodyear India Ltd GOODYEAR⚠ unverified	6.7%	+3.9 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 202113%

Dec 202113%

Mar 202211%

Jun 202212%

Sep 202212%

Dec 202214%

Mar 202316%

Jun 202317%

Sep 202318%

Dec 202318%

Mar 202416%

Jun 202414%

Sep 202414%

Dec 202414%

Mar 202513%

Jun 202513%

Sep 202515%

Dec 202515%

Mar 202615%

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 202126%

Dec 202122%

Mar 202221%

Jun 202217%

Sep 202216%

Dec 202212%

Mar 202321%

Jun 202323%

Sep 202324%

Dec 202324%

Mar 202425%

Jun 202424%

Sep 202424%

Dec 202423%

Mar 202522%

Jun 202518%

Sep 202521%

Dec 202524%

Mar 202622%

Jun 2026—

CEAT Ltd · CEATLTD

Sep 20219.0%

Dec 20215.6%

Mar 20227.2%

Jun 20225.9%

Sep 20227.0%

Dec 20229.0%

Mar 202313%

Jun 202313%

Sep 202315%

Dec 202314%

Mar 202413%

Jun 202412%

Sep 202411%

Dec 202410%

Mar 202511%

Jun 202511%

Sep 202513%

Dec 202514%

Mar 202614%

Jun 20268.5%

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 20218.6%

Dec 20215.6%

Mar 20225.6%

Jun 20227.3%

Sep 20226.0%

Dec 20226.0%

Mar 20238.7%

Jun 20238.9%

Sep 20238.9%

Dec 20236.7%

Mar 20241.0%

Jun 20246.4%

Sep 20244.6%

Dec 20243.8%

Mar 20252.9%

Jun 20254.3%

Sep 20254.5%

Dec 20257.3%

Mar 20266.7%

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 20219.8%

Dec 20218.9%

Mar 20226.9%

Jun 20227.8%

Sep 20227.9%

Dec 20229.0%

Mar 202310%

Jun 202312%

Sep 202315%

Dec 202315%

Mar 202413%

Jun 202414%

Sep 202412%

Dec 20249.0%

Mar 202510%

Jun 202510%

Sep 202513%

Dec 202514%

Mar 202613%

Jun 2026—

MRF Ltd · MRF

Sep 202111%

Dec 202110%

Mar 202210%

Jun 20228.7%

Sep 20228.3%

Dec 202210%

Mar 202315%

Jun 202318%

Sep 202319%

Dec 202317%

Mar 202414%

Jun 202416%

Sep 202415%

Dec 202412%

Mar 202515%

Jun 202514%

Sep 202515%

Dec 202517%

Mar 202616%

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 202121%

Dec 202121%

Mar 202219%

Jun 202221%

Sep 202217%

Dec 202219%

Mar 202315%

Jun 202312%

Sep 202316%

Dec 202315%

Mar 202414%

Jun 202413%

Sep 202415%

Dec 202412%

Mar 202513%

Jun 202513%

Sep 202514%

Dec 202513%

Mar 20269.0%

Jun 202613%

TVS Srichakra Ltd · TVSSRICHAK

Sep 20219.2%

Dec 20216.0%

Mar 20225.2%

Jun 20224.2%

Sep 20229.9%

Dec 20228.0%

Mar 20238.0%

Jun 20239.0%

Sep 202312%

Dec 202310%

Mar 202410%

Jun 20247.0%

Sep 20247.0%

Dec 20246.0%

Mar 20258.0%

Jun 20256.0%

Sep 20257.0%

Dec 20259.0%

Mar 20269.0%

Jun 2026—

Margin change · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021−3.9 pp

Dec 2021−6.8 pp

Mar 2022−5.0 pp

Jun 2022−0.8 pp

Sep 2022−0.6 pp

Dec 2022+1.0 pp

Mar 2023+4.8 pp

Jun 2023+5.4 pp

Sep 2023+6.1 pp

Dec 2023+4.0 pp

Mar 20240.0 pp

Jun 2024−3.0 pp

Sep 2024−4.0 pp

Dec 2024−4.0 pp

Mar 2025−3.0 pp

Jun 2025−1.0 pp

Sep 2025+1.0 pp

Dec 2025+1.0 pp

Mar 2026+2.0 pp

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021−8.3 pp

Dec 2021−9.5 pp

Mar 2022−10.2 pp

Jun 2022−11.4 pp

Sep 2022−9.9 pp

Dec 2022−10.3 pp

Mar 2023−0.2 pp

Jun 2023+6.1 pp

Sep 2023+8.0 pp

Dec 2023+12.0 pp

Mar 2024+4.0 pp

Jun 2024+1.0 pp

Sep 20240.0 pp

Dec 2024−1.0 pp

Mar 2025−3.0 pp

Jun 2025−6.0 pp

Sep 2025−3.0 pp

Dec 2025+1.0 pp

Mar 20260.0 pp

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021−5.8 pp

Dec 2021−9.2 pp

Mar 2022−4.2 pp

Jun 2022−2.9 pp

Sep 2022−2.0 pp

Dec 2022+3.4 pp

Mar 2023+5.8 pp

Jun 2023+7.3 pp

Sep 2023+7.9 pp

Dec 2023+5.1 pp

Mar 2024+0.1 pp

Jun 2024−1.2 pp

Sep 2024−4.0 pp

Dec 2024−3.8 pp

Mar 2025−1.7 pp

Jun 2025−1.0 pp

Sep 2025+2.4 pp

Dec 2025+3.2 pp

Mar 2026+2.7 pp

Jun 2026−2.5 pp

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021−6.7 pp

Dec 2021−8.9 pp

Mar 2022−6.3 pp

Jun 2022−1.1 pp

Sep 2022−2.6 pp

Dec 2022+0.4 pp

Mar 2023+3.1 pp

Jun 2023+1.6 pp

Sep 2023+2.9 pp

Dec 2023+0.7 pp

Mar 2024−7.8 pp

Jun 2024−2.5 pp

Sep 2024−4.3 pp

Dec 2024−3.0 pp

Mar 2025+1.9 pp

Jun 2025−2.1 pp

Sep 2025−0.1 pp

Dec 2025+3.5 pp

Mar 2026+3.9 pp

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021−5.8 pp

Dec 2021−9.2 pp

Mar 2022−8.7 pp

Jun 2022−2.9 pp

Sep 2022−1.9 pp

Dec 2022+0.1 pp

Mar 2023+3.1 pp

Jun 2023+4.2 pp

Sep 2023+7.1 pp

Dec 2023+6.0 pp

Mar 2024+3.0 pp

Jun 2024+2.0 pp

Sep 2024−3.0 pp

Dec 2024−6.0 pp

Mar 2025−3.0 pp

Jun 2025−4.0 pp

Sep 2025+1.0 pp

Dec 2025+5.0 pp

Mar 2026+3.0 pp

Jun 2026—

MRF Ltd · MRF

Sep 2021−9.8 pp

Dec 2021−11.0 pp

Mar 2022−5.7 pp

Jun 2022−3.2 pp

Sep 2022−2.4 pp

Dec 2022−0.0 pp

Mar 2023+4.8 pp

Jun 2023+9.3 pp

Sep 2023+10.8 pp

Dec 2023+7.0 pp

Mar 2024−1.0 pp

Jun 2024−2.0 pp

Sep 2024−4.0 pp

Dec 2024−5.0 pp

Mar 2025+1.0 pp

Jun 2025−2.0 pp

Sep 20250.0 pp

Dec 2025+5.0 pp

Mar 2026+1.0 pp

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021+2.5 pp

Dec 2021+4.9 pp

Mar 2022+1.6 pp

Jun 2022+1.2 pp

Sep 2022−4.2 pp

Dec 2022−2.3 pp

Mar 2023−4.2 pp

Jun 2023−9.0 pp

Sep 2023−0.8 pp

Dec 2023−4.0 pp

Mar 2024−1.0 pp

Jun 2024+1.0 pp

Sep 2024−1.0 pp

Dec 2024−3.0 pp

Mar 2025−1.0 pp

Jun 20250.0 pp

Sep 2025−1.0 pp

Dec 2025+1.0 pp

Mar 2026−4.0 pp

Jun 20260.0 pp

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021−6.5 pp

Dec 2021−8.0 pp

Mar 2022−8.0 pp

Jun 2022−1.1 pp

Sep 2022+0.8 pp

Dec 2022+2.0 pp

Mar 2023+2.8 pp

Jun 2023+4.8 pp

Sep 2023+2.1 pp

Dec 2023+2.0 pp

Mar 2024+2.0 pp

Jun 2024−2.0 pp

Sep 2024−5.0 pp

Dec 2024−4.0 pp

Mar 2025−2.0 pp

Jun 2025−1.0 pp

Sep 20250.0 pp

Dec 2025+3.0 pp

Mar 2026+1.0 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

MRF Ltd has the highest Net profit among the 8 Tyres & Tubes companies compared here, at ₹2,423 crore. Apollo Tyres Ltd is next at ₹1,373 crore. TVS Srichakra Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: MRF Ltd leads with ₹2,423 crore of TTM profit, 76.5% above Apollo Tyres Ltd. TVS Srichakra Ltd shows ≥100% on the scoring scale (238.1% uncapped) growth from a ₹71 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMRF Ltd · ₹2,423 crore

Gap76.5% versus #2 · Apollo Tyres Ltd

Persistence4/8 recent comparable periods

Coverage8/8 companies · 144 observations

Investor read: MRF Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1MRF Ltd MRF₹2.4K Cr

2Apollo Tyres Ltd APOLLOTYRE₹1.4K Cr

3Balkrishna Industries Ltd BALKRISIND₹1.2K Cr

4JK Tyre & Industries Ltd JKTYRE₹776 Cr

5CEAT Ltd CEATLTD₹589 Cr

Profit growthfastest growers

1TVS Srichakra Ltd TVSSRICHAK100%

2JK Tyre & Industries Ltd JKTYRE52%

3Rajratan Global Wire Ltd RAJRATAN40%

4CEAT Ltd CEATLTD37%

5MRF Ltd MRF30%

Net profit · company comparison

8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
MRF Ltd MRF	₹702 Cr	38%	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	₹631 Cr	241%	Mar 2026
Balkrishna Industries Ltd BALKRISIND	₹299 Cr	-19%	Mar 2026
JK Tyre & Industries Ltd JKTYRE	₹178 Cr	80%	Mar 2026
TVS Srichakra Ltd TVSSRICHAK	₹36 Cr	260%	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	₹23 Cr	64%	Jun 2026
Goodyear India Ltd GOODYEAR⚠ unverified	₹10 Cr	99%	Mar 2026
CEAT Ltd CEATLTD	₹4 Cr	-96%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021₹174 Cr

Dec 2021₹224 Cr

Mar 2022₹113 Cr

Jun 2022₹191 Cr

Sep 2022₹194 Cr

Dec 2022₹292 Cr

Mar 2023₹410 Cr

Jun 2023₹397 Cr

Sep 2023₹474 Cr

Dec 2023₹497 Cr

Mar 2024₹354 Cr

Jun 2024₹302 Cr

Sep 2024₹297 Cr

Dec 2024₹337 Cr

Mar 2025₹185 Cr

Jun 2025₹13 Cr

Sep 2025₹258 Cr

Dec 2025₹471 Cr

Mar 2026₹631 Cr

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021₹391 Cr

Dec 2021₹339 Cr

Mar 2022₹375 Cr

Jun 2022₹307 Cr

Sep 2022₹382 Cr

Dec 2022₹108 Cr

Mar 2023₹260 Cr

Jun 2023₹332 Cr

Sep 2023₹347 Cr

Dec 2023₹305 Cr

Mar 2024₹487 Cr

Jun 2024₹490 Cr

Sep 2024₹347 Cr

Dec 2024₹449 Cr

Mar 2025₹369 Cr

Jun 2025₹288 Cr

Sep 2025₹273 Cr

Dec 2025₹382 Cr

Mar 2026₹299 Cr

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021₹42 Cr

Dec 2021₹-20 Cr

Mar 2022₹25 Cr

Jun 2022₹9 Cr

Sep 2022₹8 Cr

Dec 2022₹35 Cr

Mar 2023₹132 Cr

Jun 2023₹144 Cr

Sep 2023₹208 Cr

Dec 2023₹181 Cr

Mar 2024₹102 Cr

Jun 2024₹154 Cr

Sep 2024₹121 Cr

Dec 2024₹97 Cr

Mar 2025₹99 Cr

Jun 2025₹112 Cr

Sep 2025₹186 Cr

Dec 2025₹155 Cr

Mar 2026₹244 Cr

Jun 2026₹4 Cr

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹24 Cr

Mar 2023₹34 Cr

Jun 2023₹39 Cr

Sep 2023₹38 Cr

Dec 2023₹22 Cr

Mar 2024₹-4 Cr

Jun 2024₹25 Cr

Sep 2024₹16 Cr

Dec 2024₹9 Cr

Mar 2025₹5 Cr

Jun 2025₹14 Cr

Sep 2025₹13 Cr

Dec 2025₹25 Cr

Mar 2026₹10 Cr

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹67 Cr

Mar 2023₹112 Cr

Jun 2023₹159 Cr

Sep 2023₹249 Cr

Dec 2023₹227 Cr

Mar 2024₹172 Cr

Jun 2024₹218 Cr

Sep 2024₹140 Cr

Dec 2024₹53 Cr

Mar 2025₹99 Cr

Jun 2025₹163 Cr

Sep 2025₹227 Cr

Dec 2025₹208 Cr

Mar 2026₹178 Cr

Jun 2026—

MRF Ltd · MRF

Sep 2021₹189 Cr

Dec 2021₹149 Cr

Mar 2022₹165 Cr

Jun 2022₹124 Cr

Sep 2022₹130 Cr

Dec 2022₹175 Cr

Mar 2023₹341 Cr

Jun 2023₹589 Cr

Sep 2023₹587 Cr

Dec 2023₹510 Cr

Mar 2024₹396 Cr

Jun 2024₹571 Cr

Sep 2024₹471 Cr

Dec 2024₹315 Cr

Mar 2025₹510 Cr

Jun 2025₹500 Cr

Sep 2025₹526 Cr

Dec 2025₹695 Cr

Mar 2026₹702 Cr

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021₹33 Cr

Dec 2021₹33 Cr

Mar 2022₹37 Cr

Jun 2022₹35 Cr

Sep 2022₹23 Cr

Dec 2022₹22 Cr

Mar 2023₹20 Cr

Jun 2023₹12 Cr

Sep 2023₹19 Cr

Dec 2023₹20 Cr

Mar 2024₹20 Cr

Jun 2024₹15 Cr

Sep 2024₹19 Cr

Dec 2024₹9 Cr

Mar 2025₹15 Cr

Jun 2025₹14 Cr

Sep 2025₹21 Cr

Dec 2025₹21 Cr

Mar 2026₹15 Cr

Jun 2026₹23 Cr

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021₹25 Cr

Dec 2021₹9 Cr

Mar 2022₹8 Cr

Jun 2022₹-2 Cr

Sep 2022₹38 Cr

Dec 2022₹20 Cr

Mar 2023₹22 Cr

Jun 2023₹21 Cr

Sep 2023₹39 Cr

Dec 2023₹24 Cr

Mar 2024₹24 Cr

Jun 2024₹7 Cr

Sep 2024₹10 Cr

Dec 2024₹-6 Cr

Mar 2025₹10 Cr

Jun 2025₹13 Cr

Sep 2025₹11 Cr

Dec 2025₹11 Cr

Mar 2026₹36 Cr

Jun 2026—

Profit growth · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202249%

Sep 202211%

Dec 202230%

Mar 2023263%

Jun 2023108%

Sep 2023144%

Dec 202370%

Mar 2024-14%

Jun 2024-24%

Sep 2024-37%

Dec 2024-32%

Mar 2025-48%

Jun 2025-96%

Sep 2025-13%

Dec 202540%

Mar 2026241%

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-7.3%

Sep 2022-2.3%

Dec 2022-68%

Mar 2023-31%

Jun 20238.1%

Sep 2023-9.2%

Dec 2023182%

Mar 202487%

Jun 202448%

Sep 20240.0%

Dec 202447%

Mar 2025-24%

Jun 2025-41%

Sep 2025-21%

Dec 2025-15%

Mar 2026-19%

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-81%

Dec 2022—

Mar 2023428%

Jun 20231,500%

Sep 20232,497%

Dec 2023418%

Mar 2024-23%

Jun 20247.1%

Sep 2024-42%

Dec 2024-46%

Mar 2025-3.5%

Jun 2025-27%

Sep 202553%

Dec 202560%

Mar 2026147%

Jun 2026-96%

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-8.9%

Mar 2024-113%

Jun 2024-36%

Sep 2024-59%

Dec 2024-57%

Mar 2025—

Jun 2025-44%

Sep 2025-17%

Dec 2025160%

Mar 202699%

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023239%

Mar 202454%

Jun 202437%

Sep 2024-44%

Dec 2024-77%

Mar 2025-42%

Jun 2025-25%

Sep 202562%

Dec 2025292%

Mar 202680%

Jun 2026—

MRF Ltd · MRF

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-25%

Sep 2022-31%

Dec 202217%

Mar 2023107%

Jun 2023375%

Sep 2023352%

Dec 2023191%

Mar 202416%

Jun 2024-3.1%

Sep 2024-20%

Dec 2024-38%

Mar 202529%

Jun 2025-12%

Sep 202512%

Dec 2025121%

Mar 202638%

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202259%

Sep 2022-30%

Dec 2022-33%

Mar 2023-46%

Jun 2023-66%

Sep 2023-17%

Dec 2023-9.1%

Mar 20240.0%

Jun 202425%

Sep 20240.0%

Dec 2024-55%

Mar 2025-25%

Jun 2025-6.7%

Sep 202511%

Dec 2025133%

Mar 20260.0%

Jun 202664%

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-300%

Sep 202252%

Dec 2022122%

Mar 2023175%

Jun 2023—

Sep 20232.6%

Dec 202320%

Mar 20249.1%

Jun 2024-67%

Sep 2024-74%

Dec 2024-125%

Mar 2025-58%

Jun 202586%

Sep 202510%

Dec 2025—

Mar 2026260%

Jun 2026—

04 · not available

Capacity Spending & Returns On It

No company in this Tyres & Tubes comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 8 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

Withheld from this comparison: JK Tyre & Industries Ltd (JKTYRE) — its two data sources disagree by up to 12% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Goodyear India Ltd has the lowest Gross debt among the 8 Tyres & Tubes companies compared here, at ₹27 crore. Rajratan Global Wire Ltd is next at ₹324 crore. MRF Ltd has the lowest Net debt at ₹2,021 crore net cash, so level and change sit with different companies.

What the numbers say: MRF Ltd has the clearest covered balance-sheet capacity with ₹2,021 crore net cash and gross debt of ₹3,207 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderGoodyear India Ltd · ₹27 crore

Gap91.7% versus #2 · Rajratan Global Wire Ltd

Persistence8/8 recent comparable periods

Coverage8/8 companies · 140 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1Goodyear India Ltd GOODYEAR⚠ unverified₹27 Cr

2Rajratan Global Wire Ltd RAJRATAN₹324 Cr

3TVS Srichakra Ltd TVSSRICHAK₹767 Cr

4MRF Ltd MRF₹3.2K Cr

5CEAT Ltd CEATLTD₹3.3K Cr

Net debtlowest net debt

1MRF Ltd MRF₹-2.0K Cr

2Goodyear India Ltd GOODYEAR⚠ unverified₹-204 Cr

3Rajratan Global Wire Ltd RAJRATAN₹301 Cr

4TVS Srichakra Ltd TVSSRICHAK₹744 Cr

5Apollo Tyres Ltd APOLLOTYRE₹2.6K Cr

Debt and balance-sheet capacity · company comparison

8/8 level · 7/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
JK Tyre & Industries Ltd JKTYRE	₹4.9K Cr	—	Mar 2026
Balkrishna Industries Ltd BALKRISIND	₹4.1K Cr	₹2.7K Cr	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	₹3.7K Cr	₹2.6K Cr	Mar 2026
CEAT Ltd CEATLTD	₹3.3K Cr	₹3.2K Cr	Jun 2026
MRF Ltd MRF	₹3.2K Cr	₹-2.0K Cr	Mar 2026
TVS Srichakra Ltd TVSSRICHAK	₹767 Cr	₹744 Cr	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	₹324 Cr	₹301 Cr	Jun 2026
Goodyear India Ltd GOODYEAR⚠ unverified	₹27 Cr	₹-204 Cr	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021₹7.3K Cr

Dec 2021₹7.3K Cr

Mar 2022₹7.1K Cr

Jun 2022₹7.0K Cr

Sep 2022₹7.2K Cr

Dec 2022₹7.2K Cr

Mar 2023₹6.4K Cr

Jun 2023₹6.4K Cr

Sep 2023₹5.5K Cr

Dec 2023₹5.5K Cr

Mar 2024₹4.9K Cr

Jun 2024₹4.9K Cr

Sep 2024₹4.8K Cr

Dec 2024₹4.8K Cr

Mar 2025₹4.4K Cr

Jun 2025₹4.4K Cr

Sep 2025₹4.5K Cr

Dec 2025₹4.5K Cr

Mar 2026₹3.7K Cr

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021₹1.6K Cr

Dec 2021₹1.6K Cr

Mar 2022₹2.5K Cr

Jun 2022₹2.5K Cr

Sep 2022₹3.2K Cr

Dec 2022₹3.2K Cr

Mar 2023₹3.3K Cr

Jun 2023₹3.3K Cr

Sep 2023₹2.9K Cr

Dec 2023₹2.9K Cr

Mar 2024₹3.1K Cr

Jun 2024₹3.1K Cr

Sep 2024₹3.1K Cr

Dec 2024₹3.1K Cr

Mar 2025₹3.3K Cr

Jun 2025₹3.3K Cr

Sep 2025₹3.7K Cr

Dec 2025₹3.7K Cr

Mar 2026₹4.1K Cr

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021₹2.1K Cr

Dec 2021₹2.1K Cr

Mar 2022₹2.2K Cr

Jun 2022₹2.2K Cr

Sep 2022₹2.4K Cr

Dec 2022₹2.4K Cr

Mar 2023₹2.3K Cr

Jun 2023₹2.3K Cr

Sep 2023₹2.1K Cr

Dec 2023₹2.1K Cr

Mar 2024₹1.8K Cr

Jun 2024₹1.8K Cr

Sep 2024₹2.1K Cr

Dec 2024₹2.1K Cr

Mar 2025₹2.1K Cr

Jun 2025₹2.1K Cr

Sep 2025₹3.1K Cr

Dec 2025₹3.1K Cr

Mar 2026₹3.3K Cr

Jun 2026₹3.3K Cr

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021₹16 Cr

Dec 2021₹16 Cr

Mar 2022₹17 Cr

Jun 2022₹17 Cr

Sep 2022₹12 Cr

Dec 2022₹12 Cr

Mar 2023₹10 Cr

Jun 2023₹10 Cr

Sep 2023₹7 Cr

Dec 2023₹7 Cr

Mar 2024₹7 Cr

Jun 2024₹7 Cr

Sep 2024₹5 Cr

Dec 2024₹5 Cr

Mar 2025₹29 Cr

Jun 2025₹29 Cr

Sep 2025₹28 Cr

Dec 2025₹28 Cr

Mar 2026₹27 Cr

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 2021—

Dec 2021—

Mar 2022₹5.2K Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹4.9K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹4.6K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹4.9K Cr

Jun 2025—

Sep 2025₹4.8K Cr

Dec 2025—

Mar 2026₹4.9K Cr

Jun 2026—

MRF Ltd · MRF

Sep 2021₹2.6K Cr

Dec 2021₹2.6K Cr

Mar 2022₹3.2K Cr

Jun 2022₹3.2K Cr

Sep 2022₹3.1K Cr

Dec 2022₹3.1K Cr

Mar 2023₹3.0K Cr

Jun 2023₹3.0K Cr

Sep 2023₹3.1K Cr

Dec 2023₹3.1K Cr

Mar 2024₹2.8K Cr

Jun 2024₹2.8K Cr

Sep 2024₹3.1K Cr

Dec 2024₹3.1K Cr

Mar 2025₹3.8K Cr

Jun 2025₹3.8K Cr

Sep 2025₹3.6K Cr

Dec 2025₹3.6K Cr

Mar 2026₹3.2K Cr

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021₹188 Cr

Dec 2021₹188 Cr

Mar 2022₹137 Cr

Jun 2022₹137 Cr

Sep 2022₹199 Cr

Dec 2022₹199 Cr

Mar 2023₹171 Cr

Jun 2023₹171 Cr

Sep 2023₹224 Cr

Dec 2023₹224 Cr

Mar 2024₹191 Cr

Jun 2024₹191 Cr

Sep 2024₹314 Cr

Dec 2024₹314 Cr

Mar 2025₹237 Cr

Jun 2025₹237 Cr

Sep 2025₹373 Cr

Dec 2025₹373 Cr

Mar 2026₹324 Cr

Jun 2026—

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021₹422 Cr

Dec 2021₹422 Cr

Mar 2022₹610 Cr

Jun 2022₹610 Cr

Sep 2022₹705 Cr

Dec 2022₹705 Cr

Mar 2023₹662 Cr

Jun 2023₹662 Cr

Sep 2023₹703 Cr

Dec 2023₹703 Cr

Mar 2024₹842 Cr

Jun 2024₹842 Cr

Sep 2024₹876 Cr

Dec 2024₹876 Cr

Mar 2025₹886 Cr

Jun 2025₹886 Cr

Sep 2025₹795 Cr

Dec 2025₹795 Cr

Mar 2026₹767 Cr

Jun 2026—

Net debt · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021₹5.9K Cr

Dec 2021₹5.9K Cr

Mar 2022₹5.5K Cr

Jun 2022₹5.4K Cr

Sep 2022₹6.3K Cr

Dec 2022₹6.3K Cr

Mar 2023₹5.2K Cr

Jun 2023₹5.2K Cr

Sep 2023₹4.6K Cr

Dec 2023₹4.6K Cr

Mar 2024₹3.5K Cr

Jun 2024₹3.5K Cr

Sep 2024₹3.9K Cr

Dec 2024₹3.9K Cr

Mar 2025₹3.5K Cr

Jun 2025₹3.5K Cr

Sep 2025₹3.6K Cr

Dec 2025₹3.6K Cr

Mar 2026₹2.6K Cr

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021₹982 Cr

Dec 2021₹982 Cr

Mar 2022₹1.8K Cr

Jun 2022₹1.8K Cr

Sep 2022₹2.3K Cr

Dec 2022₹2.3K Cr

Mar 2023₹2.5K Cr

Jun 2023₹2.5K Cr

Sep 2023₹1.9K Cr

Dec 2023₹1.9K Cr

Mar 2024₹1.7K Cr

Jun 2024₹1.7K Cr

Sep 2024₹1.4K Cr

Dec 2024₹1.4K Cr

Mar 2025₹1.5K Cr

Jun 2025₹1.5K Cr

Sep 2025₹2.3K Cr

Dec 2025₹2.3K Cr

Mar 2026₹2.7K Cr

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021₹2.1K Cr

Dec 2021₹2.1K Cr

Mar 2022₹2.2K Cr

Jun 2022₹2.2K Cr

Sep 2022₹2.3K Cr

Dec 2022₹2.3K Cr

Mar 2023₹2.2K Cr

Jun 2023₹2.2K Cr

Sep 2023₹2.0K Cr

Dec 2023₹2.0K Cr

Mar 2024₹1.7K Cr

Jun 2024₹1.7K Cr

Sep 2024₹2.0K Cr

Dec 2024₹2.0K Cr

Mar 2025₹2.1K Cr

Jun 2025₹2.1K Cr

Sep 2025₹3.0K Cr

Dec 2025₹3.0K Cr

Mar 2026₹3.2K Cr

Jun 2026₹3.2K Cr

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021₹-459 Cr

Dec 2021₹-459 Cr

Mar 2022₹-369 Cr

Jun 2022₹-369 Cr

Sep 2022₹-225 Cr

Dec 2022₹-225 Cr

Mar 2023₹-148 Cr

Jun 2023₹-148 Cr

Sep 2023₹-243 Cr

Dec 2023₹-243 Cr

Mar 2024₹-112 Cr

Jun 2024₹-112 Cr

Sep 2024₹-193 Cr

Dec 2024₹-193 Cr

Mar 2025₹-161 Cr

Jun 2025₹-161 Cr

Sep 2025₹-149 Cr

Dec 2025₹-149 Cr

Mar 2026₹-204 Cr

Jun 2026—

MRF Ltd · MRF

Sep 2021₹-1.1K Cr

Dec 2021₹-1.1K Cr

Mar 2022₹-147 Cr

Jun 2022₹-71 Cr

Sep 2022₹237 Cr

Dec 2022₹237 Cr

Mar 2023₹791 Cr

Jun 2023₹791 Cr

Sep 2023₹714 Cr

Dec 2023₹714 Cr

Mar 2024₹75 Cr

Jun 2024₹75 Cr

Sep 2024₹27 Cr

Dec 2024₹27 Cr

Mar 2025₹-267 Cr

Jun 2025₹-157 Cr

Sep 2025₹-1.0K Cr

Dec 2025₹-1.0K Cr

Mar 2026₹-2.0K Cr

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021₹180 Cr

Dec 2021₹180 Cr

Mar 2022₹136 Cr

Jun 2022₹136 Cr

Sep 2022₹187 Cr

Dec 2022₹187 Cr

Mar 2023₹168 Cr

Jun 2023₹168 Cr

Sep 2023₹223 Cr

Dec 2023₹223 Cr

Mar 2024₹188 Cr

Jun 2024₹188 Cr

Sep 2024₹300 Cr

Dec 2024₹300 Cr

Mar 2025₹226 Cr

Jun 2025₹213 Cr

Sep 2025₹350 Cr

Dec 2025₹350 Cr

Mar 2026₹301 Cr

Jun 2026—

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021₹407 Cr

Dec 2021₹407 Cr

Mar 2022₹601 Cr

Jun 2022₹597 Cr

Sep 2022₹677 Cr

Dec 2022₹677 Cr

Mar 2023₹649 Cr

Jun 2023₹646 Cr

Sep 2023₹684 Cr

Dec 2023₹684 Cr

Mar 2024₹825 Cr

Jun 2024₹823 Cr

Sep 2024₹847 Cr

Dec 2024₹847 Cr

Mar 2025₹871 Cr

Jun 2025₹869 Cr

Sep 2025₹770 Cr

Dec 2025₹770 Cr

Mar 2026₹744 Cr

Jun 2026—

06 · compare level, then change

Return On Capital Employed

CEAT Ltd has the highest ROCE among the 8 Tyres & Tubes companies compared here, at 19.2%. Goodyear India Ltd is next at 17.4%. Goodyear India Ltd has the highest ROCE change at +4.1 percentage points, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: CEAT Ltd leads ROCE at 19.2%, 1.8 percentage points above Goodyear India Ltd. Goodyear India Ltd has the strongest latest improvement at +4.1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderCEAT Ltd · 19.2%

Gap10.3% versus #2 · Goodyear India Ltd

Persistence4/8 recent comparable periods

Coverage8/8 companies · 106 observations

Investor read: CEAT Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1CEAT Ltd CEATLTD19%

2Goodyear India Ltd GOODYEAR⚠ unverified17%

3MRF Ltd MRF16%

4JK Tyre & Industries Ltd JKTYRE16%

5Apollo Tyres Ltd APOLLOTYRE14%

ROCE changefastest improvers

1Goodyear India Ltd GOODYEAR⚠ unverified+4.1 pp

2CEAT Ltd CEATLTD+3.7 pp

3JK Tyre & Industries Ltd JKTYRE+3.0 pp

4TVS Srichakra Ltd TVSSRICHAK+2.5 pp

5Apollo Tyres Ltd APOLLOTYRE+1.9 pp

Return on capital · company comparison

8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: JK Tyre & Industries Ltd (JKTYRE) — its two data sources disagree by up to 12% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
CEAT Ltd CEATLTD	19%	+3.7 pp	Jun 2026
Balkrishna Industries Ltd BALKRISIND	14%	−1.3 pp	Mar 2026
MRF Ltd MRF	14%	+1.9 pp	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	14%	−1.0 pp	Jun 2026
Goodyear India Ltd GOODYEAR⚠ unverified	14%	+4.1 pp	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	12%	+1.9 pp	Mar 2026
TVS Srichakra Ltd TVSSRICHAK	8.4%	+2.5 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 20219.0%

Dec 2021—

Mar 20226.2%

Jun 2022—

Sep 20227.4%

Dec 2022—

Mar 20239.8%

Jun 2023—

Sep 202314%

Dec 202316%

Mar 202415%

Jun 202415%

Sep 202413%

Dec 202412%

Mar 202510%

Jun 20258.0%

Sep 202510%

Dec 20259.1%

Mar 202612%

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 202124%

Dec 2021—

Mar 202220%

Jun 2022—

Sep 202215%

Dec 2022—

Mar 202312%

Jun 2023—

Sep 202312%

Dec 202319%

Mar 202416%

Jun 202424%

Sep 202417%

Dec 202425%

Mar 202516%

Jun 202519%

Sep 202513%

Dec 202517%

Mar 202614%

Jun 2026—

CEAT Ltd · CEATLTD

Sep 202111%

Dec 2021—

Mar 20225.2%

Jun 2022—

Sep 20224.7%

Dec 2022—

Mar 20239.2%

Jun 2023—

Sep 202317%

Dec 202321%

Mar 202420%

Jun 202420%

Sep 202418%

Dec 202416%

Mar 202515%

Jun 202515%

Sep 202515%

Dec 202518%

Mar 202618%

Jun 202619%

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 202127%

Dec 2021—

Mar 202216%

Jun 2022—

Sep 202221%

Dec 2022—

Mar 202324%

Jun 2023—

Sep 202326%

Dec 202330%

Mar 202419%

Jun 202418%

Sep 202411%

Dec 202410%

Mar 20259.6%

Jun 202510%

Sep 20257.2%

Dec 202513%

Mar 202614%

Jun 2026—

MRF Ltd · MRF

Sep 202111%

Dec 2021—

Mar 20225.9%

Jun 2022—

Sep 20225.5%

Dec 2022—

Mar 20237.1%

Jun 2023—

Sep 202313%

Dec 202318%

Mar 202415%

Jun 202417%

Sep 202413%

Dec 202414%

Mar 202512%

Jun 202514%

Sep 202512%

Dec 202516%

Mar 202614%

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 202139%

Dec 2021—

Mar 202241%

Jun 2022—

Sep 202235%

Dec 2022—

Mar 202327%

Jun 2023—

Sep 202320%

Dec 202321%

Mar 202418%

Jun 202420%

Sep 202418%

Dec 202418%

Mar 202515%

Jun 202516%

Sep 202514%

Dec 202518%

Mar 202614%

Jun 2026—

TVS Srichakra Ltd · TVSSRICHAK

Sep 202114%

Dec 2021—

Mar 20225.7%

Jun 2022—

Sep 20227.4%

Dec 2022—

Mar 20239.4%

Jun 2023—

Sep 202311%

Dec 202312%

Mar 202412%

Jun 202411%

Sep 20249.0%

Dec 20246.9%

Mar 20255.9%

Jun 20256.0%

Sep 20255.4%

Dec 20257.4%

Mar 20268.4%

Jun 2026—

ROCE change · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.6 pp

Dec 2022—

Mar 2023+3.6 pp

Jun 2023—

Sep 2023+6.8 pp

Dec 2023—

Mar 2024+5.1 pp

Jun 2024—

Sep 2024−1.3 pp

Dec 2024−4.3 pp

Mar 2025−4.5 pp

Jun 2025−6.6 pp

Sep 2025−2.5 pp

Dec 2025−2.9 pp

Mar 2026+1.9 pp

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−9.2 pp

Dec 2022—

Mar 2023−8.4 pp

Jun 2023—

Sep 2023−2.7 pp

Dec 2023—

Mar 2024+4.3 pp

Jun 2024—

Sep 2024+4.8 pp

Dec 2024+5.4 pp

Mar 2025−0.4 pp

Jun 2025−4.4 pp

Sep 2025−4.2 pp

Dec 2025−7.6 pp

Mar 2026−1.3 pp

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−6.4 pp

Dec 2022—

Mar 2023+4.0 pp

Jun 2023—

Sep 2023+12.6 pp

Dec 2023—

Mar 2024+11.0 pp

Jun 2024—

Sep 2024+0.7 pp

Dec 2024−4.7 pp

Mar 2025−5.1 pp

Jun 2025−4.8 pp

Sep 2025−3.2 pp

Dec 2025+1.6 pp

Mar 2026+2.9 pp

Jun 2026+3.7 pp

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−6.4 pp

Dec 2022—

Mar 2023+8.1 pp

Jun 2023—

Sep 2023+5.5 pp

Dec 2023—

Mar 2024−5.2 pp

Jun 2024—

Sep 2024−15.7 pp

Dec 2024−19.2 pp

Mar 2025−9.4 pp

Jun 2025−7.8 pp

Sep 2025−3.5 pp

Dec 2025+2.7 pp

Mar 2026+4.1 pp

Jun 2026—

MRF Ltd · MRF

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.1 pp

Dec 2022—

Mar 2023+1.2 pp

Jun 2023—

Sep 2023+7.9 pp

Dec 2023—

Mar 2024+8.0 pp

Jun 2024—

Sep 2024−0.1 pp

Dec 2024−3.9 pp

Mar 2025−3.0 pp

Jun 2025−3.5 pp

Sep 2025−1.8 pp

Dec 2025+1.9 pp

Mar 2026+1.9 pp

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−3.9 pp

Dec 2022—

Mar 2023−14.4 pp

Jun 2023—

Sep 2023−15.4 pp

Dec 2023—

Mar 2024−8.8 pp

Jun 2024—

Sep 2024−1.8 pp

Dec 2024−3.6 pp

Mar 2025−3.0 pp

Jun 2025−3.9 pp

Sep 2025−3.4 pp

Dec 2025+0.1 pp

Mar 2026−1.0 pp

Jun 2026—

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−6.7 pp

Dec 2022—

Mar 2023+3.7 pp

Jun 2023—

Sep 2023+3.7 pp

Dec 2023—

Mar 2024+2.3 pp

Jun 2024—

Sep 2024−2.1 pp

Dec 2024−5.4 pp

Mar 2025−5.8 pp

Jun 2025−5.3 pp

Sep 2025−3.6 pp

Dec 2025+0.5 pp

Mar 2026+2.5 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

CEAT Ltd has the lowest Guarded PEG among the 8 Tyres & Tubes companies compared here, at 0.37×. MRF Ltd is next at 0.65×. JK Tyre & Industries Ltd has the lowest P/E at 12.8×, so level and change sit with different companies. 6 of 8 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: CEAT Ltd has the lowest comparable Guarded PEG at 0.37×, 43.1% below MRF Ltd. Only 6 of 8 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderCEAT Ltd · 0.37×

Gap43.1% versus #2 · MRF Ltd

Persistence0/8 recent comparable periods

Coverage6/8 companies · 29 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1CEAT Ltd CEATLTD0.4

2MRF Ltd MRF0.7

3Balkrishna Industries Ltd BALKRISIND0.7

4Rajratan Global Wire Ltd RAJRATAN1.6

5Apollo Tyres Ltd APOLLOTYRE2.2

P/Elowest P/E

1JK Tyre & Industries Ltd JKTYRE12.8

2Apollo Tyres Ltd APOLLOTYRE13.0

3CEAT Ltd CEATLTD21.2

4MRF Ltd MRF22.4

5Goodyear India Ltd GOODYEAR⚠ unverified24.9

Valuation · company comparison

6/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
TVS Srichakra Ltd TVSSRICHAK	5.1	56.1	Mar 2026
Apollo Tyres Ltd APOLLOTYRE	2.2	17.9	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	1.6	31.4	Jun 2026
Balkrishna Industries Ltd BALKRISIND	0.7	31.7	Mar 2026
MRF Ltd MRF	0.7	24.0	Mar 2026
CEAT Ltd CEATLTD	0.4	18.9	Jun 2026
JK Tyre & Industries Ltd JKTYRE	—	15.2	Mar 2026
Goodyear India Ltd GOODYEAR⚠ unverified	—	27.3	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 2021—

Dec 2021—

Mar 20221.2

Jun 2022—

Sep 20222.2

Dec 20221.0

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.6

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20262.2

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 20212.5

Dec 2021—

Mar 20220.8

Jun 20222.3

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20245.9

Jun 20242.0

Sep 2024—

Dec 20240.7

Mar 20250.7

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

CEAT Ltd · CEATLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20241.6

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20261.1

Jun 20260.4

MRF Ltd · MRF

Sep 20211.0

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20233.8

Sep 2023—

Dec 2023—

Mar 20241.7

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.9

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.7

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20235.5

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20241.9

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20262.7

Jun 20261.6

TVS Srichakra Ltd · TVSSRICHAK

Sep 2021—

Dec 2021—

Mar 20221.6

Jun 2022—

Sep 20220.8

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.5

Jun 20240.8

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20265.1

Jun 2026—

P/E · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 202112.0

Dec 202113.4

Mar 202214.6

Jun 202218.1

Sep 202225.1

Dec 202229.1

Mar 202326.2

Jun 202324.5

Sep 202318.4

Dec 202318.3

Mar 202416.6

Jun 202419.4

Sep 202420.5

Dec 202422.6

Mar 202520.1

Jun 202523.0

Sep 202524.6

Dec 202524.5

Mar 202617.9

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 202137.3

Dec 202131.5

Mar 202227.5

Jun 202229.2

Sep 202225.8

Dec 202229.4

Mar 202332.2

Jun 202343.3

Sep 202345.7

Dec 202347.4

Mar 202436.0

Jun 202447.7

Sep 202436.1

Dec 202434.0

Mar 202527.9

Jun 202528.8

Sep 202531.3

Dec 202532.1

Mar 202631.7

Jun 2026—

CEAT Ltd · CEATLTD

Sep 202110.7

Dec 202113.7

Mar 202218.7

Jun 202243.7

Sep 202299.5

Dec 2022100.0

Mar 202363.8

Jun 202340.0

Sep 202325.2

Dec 202318.6

Mar 202416.1

Jun 202416.8

Sep 202419.2

Dec 202421.9

Mar 202522.6

Jun 202529.9

Sep 202529.9

Dec 202529.8

Mar 202622.5

Jun 202618.9

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 202114.2

Dec 202114.2

Mar 202216.2

Jun 202222.8

Sep 202220.8

Dec 202225.1

Mar 202323.1

Jun 202322.5

Sep 202324.0

Dec 202322.4

Mar 202419.2

Jun 202429.1

Sep 202433.2

Dec 202440.0

Mar 202540.8

Jun 202539.5

Sep 202551.1

Dec 202547.2

Mar 202627.3

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 20217.2

Dec 20216.9

Mar 20227.6

Jun 202211.9

Sep 202219.8

Dec 202221.9

Mar 202316.8

Jun 202320.1

Sep 202317.5

Dec 202317.2

Mar 202415.0

Jun 202413.5

Sep 202412.8

Dec 202413.2

Mar 202512.2

Jun 202518.5

Sep 202521.2

Dec 202524.7

Mar 202615.2

Jun 2026—

MRF Ltd · MRF

Sep 202123.6

Dec 202125.8

Mar 202233.7

Jun 202244.7

Sep 202255.2

Dec 202266.1

Mar 202360.1

Jun 202355.9

Sep 202336.9

Dec 202332.5

Mar 202427.9

Jun 202426.4

Sep 202429.0

Dec 202428.6

Mar 202527.3

Jun 202532.5

Sep 202535.1

Dec 202534.4

Mar 202624.0

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 202128.2

Dec 202122.1

Mar 202225.0

Jun 202224.3

Sep 202244.4

Dec 202235.5

Mar 202332.3

Jun 202342.4

Sep 202350.0

Dec 202353.2

Mar 202441.0

Jun 202441.7

Sep 202438.7

Dec 202433.4

Mar 202523.3

Jun 202535.8

Sep 202529.0

Dec 202540.0

Mar 202625.3

Jun 202631.4

TVS Srichakra Ltd · TVSSRICHAK

Sep 202115.1

Dec 202115.5

Mar 202218.1

Jun 202225.9

Sep 202241.1

Dec 202239.4

Mar 202327.6

Jun 202327.2

Sep 202324.1

Dec 202333.7

Mar 202427.8

Jun 202428.9

Sep 202432.8

Dec 202439.4

Mar 202545.7

Jun 202584.4

Sep 2025114.7

Dec 2025128.9

Mar 202656.1

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

Apollo Tyres Ltd has the lowest EV/EBITDA among the 8 Tyres & Tubes companies compared here, at 7.4×. CEAT Ltd is next at 7.8×. The same company also holds the lowest P/BV, at 1.6×. 8 of 8 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 19 reported observations across the 20-quarter window.

What the numbers say: Apollo Tyres Ltd leads both ev/ebitda at 7.4× and p/bv at 1.6×.

LeaderApollo Tyres Ltd · 7.4×

Gap5.1% versus #2 · CEAT Ltd

Persistence0/8 recent comparable periods

Coverage8/8 companies · 154 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Apollo Tyres Ltd APOLLOTYRE7.4

2CEAT Ltd CEATLTD7.8

3JK Tyre & Industries Ltd JKTYRE8.2

4Goodyear India Ltd GOODYEAR⚠ unverified10.7

5MRF Ltd MRF11.2

P/BVlowest P/BV

1Apollo Tyres Ltd APOLLOTYRE1.6

2JK Tyre & Industries Ltd JKTYRE1.9

3TVS Srichakra Ltd TVSSRICHAK2.6

4MRF Ltd MRF2.6

5CEAT Ltd CEATLTD2.7

Enterprise and book valuation · company comparison

8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Balkrishna Industries Ltd BALKRISIND	17.2	4.0	Mar 2026
Rajratan Global Wire Ltd RAJRATAN	16.6	3.9	Jun 2026
TVS Srichakra Ltd TVSSRICHAK	12.8	2.3	Mar 2026
MRF Ltd MRF	11.2	2.8	Mar 2026
Goodyear India Ltd GOODYEAR⚠ unverified	10.7	2.8	Mar 2026
JK Tyre & Industries Ltd JKTYRE	8.2	2.2	Mar 2026
CEAT Ltd CEATLTD	7.8	3.2	Jun 2026
Apollo Tyres Ltd APOLLOTYRE	7.4	1.7	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 20216.0

Dec 20216.3

Mar 20226.2

Jun 20226.5

Sep 20228.6

Dec 20229.5

Mar 20238.8

Jun 20239.5

Sep 20237.8

Dec 20238.0

Mar 20247.6

Jun 20248.7

Sep 20248.7

Dec 20249.2

Mar 20258.0

Jun 20258.8

Sep 20259.4

Dec 20259.5

Mar 20267.4

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 202122.7

Dec 202119.2

Mar 202216.8

Jun 202218.1

Sep 202216.4

Dec 202218.5

Mar 202318.9

Jun 202323.5

Sep 202325.0

Dec 202325.0

Mar 202419.9

Jun 202426.3

Sep 202421.1

Dec 202419.8

Mar 202516.7

Jun 202516.9

Sep 202517.5

Dec 202517.8

Mar 202617.2

Jun 2026—

CEAT Ltd · CEATLTD

Sep 20216.2

Dec 20216.9

Mar 20227.2

Jun 20227.8

Sep 202211.9

Dec 202212.5

Mar 20239.9

Jun 202310.7

Sep 20238.9

Dec 20238.1

Mar 20247.8

Jun 20248.2

Sep 20248.9

Dec 20249.7

Mar 20259.2

Jun 202511.1

Sep 202510.6

Dec 202511.4

Mar 20269.2

Jun 20267.8

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 20216.4

Dec 20216.7

Mar 20227.1

Jun 20229.1

Sep 202210.3

Dec 202212.1

Mar 202310.4

Jun 202310.7

Sep 202312.5

Dec 202311.5

Mar 20249.6

Jun 202413.9

Sep 202415.3

Dec 202415.6

Mar 202513.9

Jun 202515.4

Sep 202517.7

Dec 202515.9

Mar 202610.7

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 20215.1

Dec 20215.3

Mar 20225.6

Jun 20226.4

Sep 20228.3

Dec 20228.7

Mar 20237.5

Jun 20238.2

Sep 20237.6

Dec 20238.1

Mar 20247.7

Jun 20247.5

Sep 20247.2

Dec 20247.4

Mar 20256.7

Jun 20258.1

Sep 20258.8

Dec 202511.1

Mar 20268.2

Jun 2026—

MRF Ltd · MRF

Sep 202110.6

Dec 202110.7

Mar 202211.6

Jun 202213.5

Sep 202216.1

Dec 202217.8

Mar 202316.5

Jun 202317.2

Sep 202314.4

Dec 202314.3

Mar 202413.1

Jun 202412.5

Sep 202413.4

Dec 202412.9

Mar 202511.7

Jun 202513.9

Sep 202514.8

Dec 202514.5

Mar 202611.2

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 202118.2

Dec 202115.1

Mar 202217.5

Jun 202217.2

Sep 202231.1

Dec 202224.9

Mar 202321.8

Jun 202326.5

Sep 202329.5

Dec 202331.3

Mar 202424.3

Jun 202424.1

Sep 202422.8

Dec 202420.2

Mar 202513.8

Jun 202517.7

Sep 202514.3

Dec 202520.0

Mar 202614.2

Jun 202616.6

TVS Srichakra Ltd · TVSSRICHAK

Sep 20216.8

Dec 20217.5

Mar 20227.8

Jun 20228.0

Sep 202214.7

Dec 202215.4

Mar 202311.8

Jun 202312.0

Sep 202311.5

Dec 202315.1

Mar 202412.9

Jun 202413.0

Sep 202413.9

Dec 202413.6

Mar 202511.6

Jun 202513.7

Sep 202515.1

Dec 202516.8

Mar 202612.8

Jun 2026—

P/BV · reported quarter history

Apollo Tyres Ltd · APOLLOTYRE

Sep 20211.3

Dec 20211.2

Mar 20221.0

Jun 20221.0

Sep 20221.6

Dec 20221.8

Mar 20231.7

Jun 20232.2

Sep 20231.9

Dec 20232.2

Mar 20242.3

Jun 20242.7

Sep 20242.5

Dec 20242.4

Mar 20251.9

Jun 20252.0

Sep 20252.1

Dec 20252.1

Mar 20261.7

Jun 2026—

Balkrishna Industries Ltd · BALKRISIND

Sep 20218.6

Dec 20216.9

Mar 20226.1

Jun 20225.9

Sep 20224.8

Dec 20225.4

Mar 20235.4

Jun 20236.6

Sep 20236.5

Dec 20236.0

Mar 20245.5

Jun 20247.0

Sep 20246.6

Dec 20245.9

Mar 20255.2

Jun 20255.4

Sep 20254.4

Dec 20254.2

Mar 20264.0

Jun 2026—

CEAT Ltd · CEATLTD

Sep 20211.6

Dec 20211.5

Mar 20221.2

Jun 20221.1

Sep 20221.9

Dec 20222.0

Mar 20231.8

Jun 20232.4

Sep 20232.5

Dec 20232.6

Mar 20242.9

Jun 20243.3

Sep 20243.2

Dec 20243.1

Mar 20252.8

Jun 20253.6

Sep 20253.1

Dec 20253.4

Mar 20263.1

Jun 20263.2

Goodyear India Ltd · GOODYEAR⚠ unverified

Sep 20212.8

Dec 20213.3

Mar 20223.1

Jun 20222.8

Sep 20224.3

Dec 20224.7

Mar 20233.5

Jun 20233.9

Sep 20234.9

Dec 20234.9

Mar 20244.1

Jun 20244.6

Sep 20244.6

Dec 20244.0

Mar 20253.2

Jun 20253.8

Sep 20253.8

Dec 20253.4

Mar 20262.8

Jun 2026—

JK Tyre & Industries Ltd · JKTYRE

Sep 20211.4

Dec 20211.2

Mar 20221.0

Jun 20220.9

Sep 20221.4

Dec 20221.6

Mar 20231.3

Jun 20232.0

Sep 20232.0

Dec 20232.6

Mar 20243.0

Jun 20243.1

Sep 20242.5

Dec 20242.2

Mar 20251.6

Jun 20252.1

Sep 20252.0

Dec 20252.6

Mar 20262.2

Jun 2026—

MRF Ltd · MRF

Sep 20212.5

Dec 20212.3

Mar 20222.1

Jun 20222.2

Sep 20222.4

Dec 20222.6

Mar 20232.5

Jun 20233.1

Sep 20233.1

Dec 20233.5

Mar 20243.6

Jun 20243.7

Sep 20243.6

Dec 20243.2

Mar 20252.7

Jun 20253.6

Sep 20253.4

Dec 20253.3

Mar 20262.8

Jun 2026—

Rajratan Global Wire Ltd · RAJRATAN

Sep 20219.1

Dec 20217.7

Mar 202210.3

Jun 20228.9

Sep 202216.0

Dec 202211.9

Mar 202311.1

Jun 202312.4

Sep 20238.9

Dec 20238.7

Mar 20246.5

Jun 20246.8

Sep 20245.9

Dec 20244.6

Mar 20252.8

Jun 20254.3

Sep 20253.0

Dec 20253.9

Mar 20262.9

Jun 20263.9

TVS Srichakra Ltd · TVSSRICHAK

Sep 20212.0

Dec 20211.8

Mar 20221.5

Jun 20221.4

Sep 20221.9

Dec 20222.3

Mar 20232.0

Jun 20232.3

Sep 20232.4

Dec 20233.2

Mar 20242.8

Jun 20243.2

Sep 20242.9

Dec 20242.5

Mar 20251.8

Jun 20252.1

Sep 20252.1

Dec 20252.7

Mar 20262.3

Jun 2026—

09 · let price answer last

Market action

TVS Srichakra Ltd has the strongest one-year price move in Tyres & Tubes at +29.5%. Rajratan Global Wire Ltd leads on Mansfield relative strength against NIFTY at +17.3%. 2 of 8 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Tyres & Tubes comparison names 7 specific ways its own evidence can mislead, all listed below. All 8 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
Thin comparisons: Capital expenditure have fewer than three usable current readings.

10 · the complete set

Which companies are included?

All 8 companies in the canonical Tyres & Tubes membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals	Source standing
MRF Ltd MRF	₹55.5K Cr	₹1,30,755	2026-07-19	Mar 2026	Cross-checked
Balkrishna Industries Ltd BALKRISIND	₹38.9K Cr	₹2,014	2026-07-19	Mar 2026	Cross-checked
Apollo Tyres Ltd APOLLOTYRE	₹26.7K Cr	₹420	2026-07-19	Mar 2026	Cross-checked
CEAT Ltd CEATLTD	₹13.5K Cr	₹3,329	2026-07-19	Jun 2026	Cross-checked
JK Tyre & Industries Ltd JKTYRE	₹11.3K Cr	₹391	2026-07-19	Mar 2026	Second feed withheld
TVS Srichakra Ltd TVSSRICHAK	₹3.0K Cr	₹3,964	2026-07-19	Mar 2026	Cross-checked
Rajratan Global Wire Ltd RAJRATANAHEAD	₹2.5K Cr	₹488	2026-07-19	Jun 2026	Cross-checked
Goodyear India Ltd GOODYEAR⚠ unverified	₹1.9K Cr	₹823	2026-07-19	Mar 2026	Includes unverified figures

How each company's sources stand: 1 of 8 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 1 of 8 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: JK Tyre & Industries Ltd (JKTYRE) — its two data sources disagree by up to 12% on reported income across 14 comparable periods, so its derived ratios are withheld.

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 8 Tyres & Tubes companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-24 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing6 cross-checked · 1 unverified · 1 withheld, of 8 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Tyres & Tubes company comparison FAQs

These 18 answers restate the Tyres & Tubes comparison above in question form. Every one is computed from the same 8 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Tyres & Tubes index?

The Nifty Tyres & Tubes index tracks India's listed Tyres & Tubes companies as a single basket. This page follows the same 8 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Tyres & Tubes sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Tyres & Tubes stocks in India?

Ranked by this page's four-factor score, CEAT Ltd places first among 8 listed Tyres & Tubes companies, followed by JK Tyre & Industries Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Tyres & Tubes stocks are listed in India?

This comparison covers 8 listed Tyres & Tubes companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Tyres & Tubes company is the biggest?

MRF Ltd is the largest, with trailing-twelve-month revenue of ₹31,149 crore, ahead of Apollo Tyres Ltd at ₹28,471 crore. That covers 8 of 8 companies with comparable reporting through Mar 2026.

Which Tyres & Tubes company is growing fastest?

Rajratan Global Wire Ltd has the fastest revenue growth at 27.8% year on year, across 8 of 8 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Tyres & Tubes company has the best profit margins?

Balkrishna Industries Ltd has the highest operating margin at 22%, from 8 of 8 comparable companies. Goodyear India Ltd shows the biggest recent improvement, at +3.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Tyres & Tubes company makes the most profit?

MRF Ltd earns the most, at ₹2,423 crore of trailing-twelve-month net profit, from 8 of 8 comparable companies. TVS Srichakra Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Tyres & Tubes company earns the highest return on capital?

CEAT Ltd leads on return on capital employed at 19.2%, across 8 of 8 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Tyres & Tubes stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — CEAT Ltd screens cheapest at 0.37×. Only 6 of 8 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Tyres & Tubes company has the strongest balance sheet?

Goodyear India Ltd carries the lowest comparable gross debt at ₹27 crore, from 8 of 8 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Tyres & Tubes stock has the strongest price momentum?

Rajratan Global Wire Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Tyres & Tubes company scores highest for research priority?

CEAT Ltd scores 63.6 out of 100 with 94% evidence confidence, from 22.4 points on growth and earnings, 13.1 on capital efficiency, 15.7 on valuation and 12.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Tyres & Tubes companies does this comparison cover, and over what period?

It compares 8 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Tyres & Tubes sector?

The 8 Tyres & Tubes companies on this page carry ₹1,53,170 crore of combined market value. MRF Ltd is the largest at ₹55,455 crore, about 36% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Tyres & Tubes sector's P/E ratio?

The median price-to-earnings ratio across the 8 Tyres & Tubes companies on this page is 24.9×, measured on the 8 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Tyres & Tubes sector performing?

2 of the 8 covered Tyres & Tubes companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.