Top Tyre Stocks in India to Watch in 2025

Tyre stocks in India have become a growing area of interest, reflecting broader trends in the country’s automotive and manufacturing sectors. These stocks represent companies engaged in the production and distribution of tyres for various vehicle categories, including passenger cars, motorcycles, trucks, and industrial vehicles. 

Backed by rising vehicle sales, expanding exports, and evolving consumer preferences, Indian tyre manufacturers are stepping on the accelerator. Whether you’re a long-term investor or a market watcher, knowing about the top tyre stocks to buy in India could help you capitalise on this momentum. 

Industry Overview 

India’s tyre industry is broadly classified into three key segments: original equipment manufacturers (OEMs), the replacement market, and exports.

• The OEM segment involves supplying tyres directly to automobile manufacturers for new vehicles.
• The replacement market focuses on meeting the demand for tyre replacements in vehicles already in use.
• The export segment deals with the sale of tyres to international markets.

The Indian tyre industry is witnessing steady growth, supported by rising vehicle production and sales, particularly in the two-wheeler and passenger vehicle segments. Urbanisation, higher disposable incomes, the rise of electric vehicles (EVs) and improved road infrastructure have contributed to increased demand for both OEM and replacement tyres.

Export activity remains a significant driver for the industry. In FY25, India’s tyre exports rose 9% year-on-year to ₹25,051 crore, up from ₹23,073 crore the previous year. Indian tyre manufacturers now export to over 170 countries. The industry’s annual turnover is nearing ₹1 lakh crore, making it one of India’s most export-intensive manufacturing segments.

Further, the Indian tyre market is expected to grow at a CAGR of 11-12% until 2047. This growth is expected to be driven by domestic consumption, export demand, and continued technological advancement.

Top Tyre Stocks in India by Market Capitalisation  

Here are the top tyre stocks in India as per market capitalisation. 

Let’s go through the best tyre stocks one by one:

1. MRF Ltd.

MRF Ltd is the largest tyre manufacturer in India and a prominent player in the global tyre industry. With a legacy of innovation and diversification, MRF has grown into a multi-vertical conglomerate with a stronghold in the automotive, industrial, and consumer products segments. The company’s extensive tyre portfolio spans two-wheelers, three-wheelers, passenger cars, trucks, light and medium commercial vehicles (LCVs/MCVs), farm tractors, off-the-road (OTR) vehicles, and even fighter aircraft. MRF is also India’s largest OEM supplier. 

The company is a pioneer in motorsports and is the only Indian company to develop formula car tyres, FIA-CIK karting tyres, and world-class rally and motocross tyres. It remains the largest promoter of rallying in India. The company distributes its products and services through branded outlets and franchises such as T&S, Tiretok, Tyredrome, MRF Fasst, Muscle Zone, and Midd.

MRF is also the exclusive tyre supplier for Indian defence aircraft and helicopters. It is now gearing up to serve a wider range of military aircraft and choppers, while also eyeing export markets for growth. 

On the EV front, MRF is a trusted OEM partner, providing tyres for popular models such as the Tata Nexon EV, Mahindra’s electric vehicles, Honda Activa Electric, Bajaj Chetak, and Hero MotoCorp’s Vida. It also supports new-age electric two-wheeler brands, such as Ather, Ultraviolette, and Revolt. Beyond this, MRF supplies tyres to leading electric bus manufacturers, such as JBM and Olectra, as well as electric three-wheeler manufacturers, including Piaggio.

In FY25, the company’s revenue rose 11.8% to ₹28,153.18 crore, but net profit declined 10.18% to ₹1,869.2 crore, mainly due to rising input costs. However, consolidated exports jumped 23% to ₹2,321 crore, supported by new SKUs and growing traction in the EV segment, helping sustain momentum despite margin pressures.

2. Balkrishna Industries Ltd.

Balkrishna Industries (BKT) is a global leader in the Off-Highway Tyres (OHT) segment, serving specialised applications in agriculture, construction, mining, earthmoving, industrial, port operations and turf care, across both cross-ply and radial constructions. With a vast portfolio of over 3,600 SKUs, the company operates in more than 160 countries. 

BKT Tires currently has an installed capacity of 3,60,000 MT per annum, which it plans to scale up to 4,25,000 MT per annum through debottlenecking and a 35,000 MT capacity expansion. Its client list includes global OEMs like JCB, Ferrari, Goldoni, Terex, John Deere, New Holland, Kubota, Greaves, and Claas.

The company is targeting a rise in global OHT market share from 6% to 8%, with a long-term aspiration of 10%, contingent on macroeconomic and geopolitical conditions. To support its aggressive growth ambitions, the board has approved a ₹3,500 crore capex plan for FY26–FY28, funded primarily through internal accruals. This investment includes new production units at Bhuj, such as facilities for carbon black, commercial vehicle tyres, power generation, rubber tracks, and premium passenger car radial tyres (PCRs).

It is also planning a modular entry into premium PCR and commercial vehicle radial tyre segments, initially targeting the Indian replacement market. Financially, BKT delivered strong results in FY25, with net profit rising 13% YoY to ₹1,628 crore, and revenue from operations increasing by 13% YoY to ₹10,615 crore, making it one of the top tyre stocks in 2025.

3. Apollo Tyres Ltd.

Apollo Tyres is a leading tyre manufacturing company in India, producing bias and radial tyres, along with tubes. Apollo Tyres sells its products under two global brands,  Apollo and Vredestein, and has a strong presence in over 100 countries. You’ll find its tyres in a wide network of branded, exclusive, and multi-brand outlets. 

The company offers a wide-ranging product portfolio that covers everything from passenger cars, SUVs, MUVs, and two-wheelers to trucks, buses, bicycles, and even off-the-road and agricultural vehicles. It also provides retreading materials and speciality tyres for industrial use. Among the top tyre stocks, the company holds a strong position in the truck and bus radial (TBR), truck and bus bias, and passenger car radial (PCR) segments in the domestic market.

Apollo is focusing on execution and strategic investment in next-gen capabilities. A key initiative includes expanding PCR tyre capacity at its Hungary and Andhra Pradesh plants, backed by a ₹1,500 crore capex for FY26, split evenly between growth and maintenance.

In FY25, the company’s revenue rose 3% to ₹26,123 crore, up from ₹25,378 crore in FY24. However, net profit fell to ₹1,121 crore from ₹1,722 crore due to internal operational challenges. The company has since identified key problem areas and is implementing corrective strategies to drive stronger performance in the upcoming quarters.

4. CEAT Ltd.

CEAT Ltd is among India’s largest and fastest-growing tyre manufacturers. Its products cater to a wide range of vehicles, from heavy-duty trucks and buses to two-wheelers and auto-rickshaws, serving both OEMs and the replacement market, with the latter contributing a major share of revenue. Its OEM client list includes Tata Motors, Ashok Leyland, Maruti, Mahindra, Hyundai, Kia, Volkswagen, Honda, Royal Enfield, Bajaj, and more.

It currently supplies to all major EV OEMs in India. As one of the best tyre sector stocks, CEAT has also led innovation by launching India’s first run-flat tyres, Z-rated 21-inch tyres (300 km/h), and CALM technology tyres focused on low noise and EV performance. For FY26, CEAT has earmarked ₹900-1,000 crore in capex to expand passenger vehicle and truck/bus radial (TBR) tyre capacity, following a capex of ₹946 crore in FY25. The company is also increasing its focus on the Off-Highway Tyre (OHT) market and plans to launch over 20 new products this quarter.

CEAT also aims to become the market leader in the passenger vehicle replacement segment, where it currently ranks third with a 16% share, and targets a 200 bps gain in the TBR segment over the next two years. On the financial front, in FY25, the company’s net profit declined 26% to ₹471 crore, while revenue rose to ₹13,218 crore from ₹11,943 crore in FY24. 

5. JK Tyre & Industries Ltd.

JK Tyre & Industries is one of India’s prominent tyre manufacturers, with a diversified portfolio across truck and bus tyres, light commercial vehicles (LCVs), passenger cars, multi-utility vehicles (MUVs), and agricultural vehicles like tractors. It is a key supplier to leading bus and commercial vehicle OEMs such as Tata Motors, Ashok Leyland, JBM Auto, Switch Mobility, and EKA. It currently holds a dominant 70% share in the EV bus original equipment market, along with a 50% share in Tata Ace EV tyres.

JK Tyre is expanding its presence in the 2-wheeler and 3-wheeler EV space by supplying top players like Ola Electric and Ather Energy. The management expects EV buses to grow from 7% to 10% of total bus sales in the coming years. In line with its growth strategy, the company is investing heavily in capacity expansion and exports, allocating ₹1,400 crore in capital expenditure over the next two years. In FY25, its consolidated export revenue stood at ₹2,378 crore. 

In a significant sustainability push, JK Tyre has launched the ‘UX Royale Green’ passenger car tyre, manufactured at its Chennai facility using certified sustainable raw materials under the International Sustainability and Carbon Certification (ISCC Plus) system, a first for India’s tyre industry.

However, on the financial front, FY25 net profit fell to ₹509.31 crore, compared to ₹805.94 crore in FY24. Revenue from operations also saw a slight decline to ₹14,692.92 crore from ₹15,001.78 crore in the previous year.

Key Factors to Consider Before Investing in Tyre Stocks in India 

Investing in top tyre stocks requires a closer look at several industry-specific dynamics. Raw material costs, especially natural rubber, synthetic rubber, and crude derivatives, directly impact margins. 

Additionally, tyre companies embracing innovation, such as EV-compatible and puncture-proof tyres, are better positioned for long-term growth. Export potential, replacement demand, and the overall performance of the auto sector also influence stock performance. 

Tyre demand is closely tied to vehicle sales, especially from OEMs. A rise in auto sales, including EVs, generally boosts tyre volumes, while slowdowns can impact revenues.

Final Thoughts 

The Indian tyre industry is on a strong growth trajectory, driven by rising auto sales, robust export demand, and the accelerating shift toward electric vehicles. Leading players such as MRF, BKT, Apollo, CEAT, and JK Tyre are not only expanding their capacity but also investing in innovation, sustainability, and next-generation mobility solutions.

While each company follows a distinct strategy, ranging from off-highway specialisation to EV-focused offerings, they all contribute to the momentum building in tyre sector stocks.

Tracking financial performance, raw material costs, and industry shifts can provide a clearer picture of how this sector and the companies are moving and where opportunities may emerge.

FAQs 

1. Which tyre company shares are the best in India?

It’s difficult to name a single best company, but MRF is one of the best tyre stocks in India as per market capitalisation.

2. Which tyre company is growing fast in India?

Each of these companies, MRF, BKT, Apollo, CEAT, and JK Tyre, are leveraging a different strategy to drive growth in a competitive landscape.

3. Is it worth investing in the tyre sector stocks?

Tyre stocks could be a good pick because of steady demand, strong exports, and India’s growth story. But make sure to do your research and check with a financial advisor before investing.

4. What is the impact of government policies on tyre stocks in India?

Government policies play a big role in shaping tyre stocks in India. Infrastructure push can drive up tyre demand, while rules around imports, raw materials, and sustainability can impact costs and margins.

5. How to start investing in tyre stocks in India? 

Open a Demat and trading account with a trusted broker like Share.Market. Research the company fundamentals, compare performance, and start investing gradually based on your financial goals.

Disclaimer: Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Registration granted by SEBI, enlistment as a Research Analyst with the Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The securities are quoted as an example and not as a recommendation.

This is for informational purposes and should not be considered as recommendations. Kindly refer to  https://share.market/ for more details. PhonePe Wealth Broking Private Limited, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887.