Tyres & Rubber Industry in India

India's tyres and rubber industry brings together manufacturers serving replacement demand, original equipment needs and specialised mobility applications.

Top tyres & rubber companies in India (listed and private)

Frequently asked questions

How large is the tyres & rubber industry in India?

247 tyres & rubber companies with statutory filings (9 listed, 238 private) reported combined revenue of ₹1.20 lakh crore in FY2025, +10.9% on the same companies, and aggregate EBITDA of ₹13,397 crore. As filed each year, combined revenue was ₹60,321 crore in FY2018, peaked at ₹1.44 lakh crore in FY2024 and was ₹1.20 lakh crore in FY2025; year-on-year changes are measured on the same companies. The 7 listed companies with an exchange price are worth ₹66,228 crore in market capitalisation. Size here is measured in revenue, profit and market value, from statutory filings and exchange prices, not in physical volume of output.

Is profitability improving or deteriorating?

Mixed. The aggregate EBITDA margin of tyres & rubber companies was 11.2% in FY2025, 6.8 pts below FY2024, against a peak of 19.1% in FY2021. The low since the peak was 9.6% in FY2023. Profit after tax margin was 3.9% (−1.0 pts on FY2024). Aggregate EBITDA of listed and private tyres & rubber companies moved +77% from FY2022 to FY2025 on a same-company basis; FY2025 EBITDA was ₹13,397 crore (+6.4% on FY2024).

Which companies are leading the tyres & rubber industry?

By FY2025 revenue the largest tyres & rubber companies are MRF (₹25,169 crore, 18.2% EBITDA margin); JK Tyre (₹14,693 crore, 11.4% EBITDA margin); Ceat (₹13,218 crore, 11.3% EBITDA margin); Apollo Medicals (₹11,547 crore, 3.5% EBITDA margin, private); Apollo Pharmacies (₹11,544 crore, 3.4% EBITDA margin, private). Among the ten largest, Atc Telecom Infrastructure (82.1%) and BKT (28.7%) earn the widest EBITDA margins and Apollo Pharmacies (3.4%) the thinnest. 20 of the 25 largest are private companies, which a listed-only view leaves out.

Where is demand or investment changing?

In the news: Electric vehicle demand carried 5.5% of tyres & rubber stories in 2025-06 to 2026-05, up 2.0 pts (+60%) on the prior 12 months; net tone +76 vs +38 for all tyres & rubber stories. In buyer searches: Search interest in industrial rubber products queries (rubber sheet) was +7% in the 12 months to 2026-09 vs the prior 12, led by “rubber sheet” (+6%), followed by replacement tyres and tubes (+3%); replacement tyres and tubes moved +3%.

What should I investigate next?

These are the findings that fired on the data, negative signals first, each with the topic that holds the evidence: Tyres & Rubber EBITDA grew 77% since FY2022 (Industry financials). 15 private tyres & rubber manufacturers pass an IPO-readiness screen (Top tyres & rubber companies in India). Electric vehicle demand is gaining the most ground in tyres & rubber news (Tyres & Rubber in the news). industrial rubber products searches rose most in the last year (Search & demand signals). Median EV/EBITDA is 10.9× and median P/E 23.3× across 7 priced tyres & rubber companies. (Market capitalisation & valuation).

How are tyres & rubber stocks valued?

The median trailing P/E is 23.3× and the median EV/EBITDA 10.9× across 7 priced companies.

What does the tyres and rubber industry include?

It includes businesses that make tyres, tubes, treads, retread materials and closely related rubber products for mobility uses.

What matters when comparing tyre manufacturers?

Useful comparisons consider product focus, customer channels, manufacturing capability, input exposure and financial disclosures.

Research information, not investment advice.