Since December 2022, Brent oil prices have fallen about 9%.
shares of
Srichakra rose 3.5% to Rs 3,668 in early trading on Friday. However, at 11:34 a.m., the stock was trading 0.4% lower at 3530 rupees. The stock has returned 111% in the last six months and has risen about 80% last year.
According to a report from the Automotive Tire Manufacturers Association (ATMA), the tire industry, currently sized at INR 75,000, is expected to reach a total turnover of INR 100,000 in the next three years.
According to Trendlyne data, the stock’s top target price has risen to Rs 2,100, marking a 41% drop from the current market price. The consensus recommendation from his one analyst at TVS Srichakra is a strong sell.
For the quarter ended 30 September 2022, the company reported consolidated net revenue of Rs.833.5 million, representing a 21.24% increase from the previous quarter’s total revenue of Rs.687.5 million. The company reported a net profit after tax of Rs 3.819 billion for the September quarter 2022.
In the second quarter of 2023, the company’s total expenses increased by 18.95% year-on-year to Rs 78.274 billion. The cost of raw materials consumed was Rs 522.19 crore (up 23.67% over the previous year) and the labor cost was Rs 829 crore (up 5.38% over the previous year). Net cash generated from his operating activities for the six months ended 30 September 2022 was Rs.484 crore. TVS Srichakra, a member of the TVS Group, manufactures tires and tubes for two and three wheelers in India. It also manufactures ultralight truck tires, agricultural tires, industrial tires and off-road (OTR) tires for export and domestic markets.
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