Small Cap Tyre Sector Company Declares 93% Jump In Profit, 26.50/Share Dividend

Leading small cap company operating in Tyres sector, Goodyear India Ltd on Monday declared its standalone net profit at Rs 33.61 crore for the March quarter, up 93% against Rs 17.39 crore declared a year ago, according to the company's BSE filing. Goodyear also announced final dividend of Rs 26.50 per share for the financial year March 31, 2023. Goodyear India share 0.84% to end at Rs 1266.55 apiece on BSE. Check details below:

Goodyear India Ltd Announces Final Dividend: As per the regulatory filing of Goodyear India, "Recommended a Final Dividend of Rs. 26.50/- per equity share of Rs. 10 each, for the Financial Year ended March 31 , 2023. The Final Dividend, if approved by the members, at the forthcoming Annual General Meeting scheduled to be held on Wednesday, August 02, 2023 shall be paid within the statutory time limit to those members whose names would appear in the Register of members on Wednesday, July 26, 2023."

Goodyear India Stock Performance & Return In Last 3-Years: Last trading price of Goodyear India share is Rs 1266.55 per share. Goodyear India stock's 52-week high price is Rs 1290.00 per share and 52-week low price is Rs 928.00 per share, respectively. The leading tyre maker has a market capitalisation of Rs 2,921.49 crore. Share of the company gave return of 20% in last 3-months only, 34% in last 1-year, 32% in last 2-years, and 81% in last 3-years.

Goodyear India Q4: It declared its consolidated revenue from operation rallied 9.19% to Rs 653 crore for the March quarter as against Rs 598 crore announced in the year-ago period, according to its regulatory filing.

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

"We have delivered solid revenue and profit growth in the quarter despite a tough business environment marked by continued inflation and high-interest rates. 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," stated Sandeep Mahajan, chairman & managing director of Goodyear India Ltd.

Goodyear India About: Goodyear is one of the world's largest tyre companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry, according to its official website.