Goodyear India – Strong Brand And Parentage: HDFC Securities Initiates Coverage


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HDFC Securities Retail Research

Goodyear India Ltd. commands leadership position in tractor tyres industry in India and supplies to almost all leading tractor manufacturers.

With monsoons being normal this year, government’s focus on increasing farm income, increasing level of mechanisation in agriculture and growing rural wages is likely to drive higher demand for tractors in the coming years.

Considering the drop in natural rubber prices, higher/stable price in tyre replacement market, pricing discipline in the industry and improving financials, we think Goodyear India remains a good bet on rural prosperity.

The company would continue to receive technology support from its parent company ‘Goodyear Tyre and Rubber Company’, which is one of the world’s leading tyre companies.

Goodyear India’s excellent balance sheet strength (zero debt company) and its multinational company parentage drives confidence on the company.

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