Tire Industry Growth & GST Impact | OEM, Replacement & International Markets | Arnab Banerjee　 #ETNOW

This Diwali, the tire industry is showing strong momentum with OEM and international markets reporting over 11% volume growth, driven in part by the recent GST rate cut from 28% to 18%, which has boosted demand in rural areas and smaller towns. Replacement tire demand has also picked up, with benefits of around ₹1,500 to ₹1,700 per tire being passed on to customers. Despite seasonal fluctuations in Q3, the industry is guiding for double-digit growth in the second half of the year. Margins have expanded by 240 basis points, supported by lower raw material costs, which are expected to remain flat or slightly lower in the coming quarter. Debt levels rose due to the CAMSO acquisition, but ratios remain healthy, and full integration is expected over the next five to six quarters. The industry remains confident in continued organic growth alongside the CAMSO business, making this an important moment for investors and stakeholders in the tire sector.

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