Indian tyremakers expected to achieve 7-8% sales growth

Tyre manufacturers are likely to see revenue growth of between 7 and 8 per cent this financial year, according to Crisil Rating data. The sales growth has reportedly been driven by a 3 to 4 per cent increase in both “realisations and volume”. Revenue will grow at “a single digit for the second straight year (albeit nearly double that of last fiscal)”, according to the analysts, who added that the results come in the context of growth “at a compound annual growth rate of 21 per cent between fiscals 2021 and 2023”.