5 Largest Tyre Companies In India And Their CMD Salary
- MRF is the largest tyre company in India which alone holds 25% market share in the industry
- Indian tires are exported to over 170 countries in which USA, Germany and Brazil are major one
Be it a car, a truck or a plane, everything moves on tires. Worldwide over 1 billion tyres are manufactured annually in more than 450 factories. This makes the tyre industry a major consumer of natural rubber. There are many tyre companies around the world and some of the major tyre companies are in India too. Top 5 Largest tyre companies in India holds 75% market share in this industry.
India is a major exporter of tyres. In FY22 the total tyre exports of India crossed ₹21,000 crore with robust growth of 50% YoY. Exports brings nearly 20% of the Indian tyre industry’s revenue. Indian tyre companies export their tyres to over 170 countries. USA alone constitutes 19% of total tyre exports followed by Germany with 7% and Brazil with 6%. Here are the 5 largest tyre companies in India that holds a major market share in tyre exports and in the Indian market:
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MRF Tyres
Which is the largest tyre manufacturing company in India? It is MRF (Madras Rubber Factory) that manufactures 57.4 million tyres and 40.2 million tubes annually. MRF alone holds 25% market share in the Indian tyre industry. The company has 10 plants in India across different states. MRF is headquartered in Chennai, Tamil Nadu and was founded in 1946. It is interesting to note here that MRF supplied tyres to Maruti 800, the car which redefined the Indian car industry.
| Revenue | ₹16,373 crore ($2.1 billion) |
| Net Income | ₹1,277 crore ($160 million) |
| Market Share | 25% |
| Employees | 18,000+ |
| Headquarters | Chennai, Tamil Nadu |
Salary Of MRF Tyres MD – Rahul Mammen Mappillai
Rahul Mammen Mappillai is the MD (Managing Director) of MRF. In Jan 2018, he was appointed as the MD of MRF. The annual pay of Rahul Mammen is ₹20 crore. He is the elder son of chairman KM Mammen who is the grandson of MRF founder KM Mammen Mappillai who founded the MRF company in 1946.
Apollo Tyres
India’s 2nd largest tyre company is Apollo Tyres. This company operates 5 plants in India with a combined capacity of producing more than 2,500 tonnes of tyres per day. In Netherlands and Hungary Apollo Tyres operates plants with 195 tonnes and 100 tonnes of capacity respectively. The Andhra Pradesh plant of Apollo Tyres in India is capable to produce 15,000 car tyres and 3,000 truck-bus tyres daily. After MRF, Apollo Tyres holds around 18% market share in the India’s tyre market.
| Revenue | ₹17,526 crore ($2.2 billion) |
| Net Income | ₹350 crore ($44 million) |
| Market Share | 18% |
| Employees | 18,700+ |
| Headquarters | Gurugram, Haryana |
Salary Of Apollo Tyres MD & Chairman – Onkar Singh Kanwar
Onkar Singh Kanwar is the MD & chairman of Apollo Tyres along with his son Neeraj Kanwar as the vice chairman. His annual salary is ₹60 crore. In 2018, Onkar Singh Kanwar salary stood at ₹45 crore while his son Neeraj Kanwar took home ₹42.75 crore.
CEAT Tyres
After Apollo Tyres India’s 3rd largest tyre company is CEAT Tyres which holds 11% market share. CEAT Tyres is owned by RPG Group and it produces 165 million tyres a year. The company manufactures tires for every segment which includes cars, truck, buses, two wheelers, tractors, auto rickshaw etc. The current tyre producing capacity of CEAT Tyres is more than 800 tonnes per day.
| Revenue | ₹9,374 crore ($1.2 billion) |
| Net Income | ₹41 crore ($5.1 million) |
| Market Share | 11% |
| Employees | 8,000+ |
| Headquarters | Mumbai, Maharashtra |
Salary Of CEAT Tyres MD – Anant Goenka
The MD of CEAT Tyres is Anant Goenka who is son of RPG Group chairman Harsh Goenka. His annual salary is ₹25 crore while his father Harsh Goenka gets ₹32 crore. In 2013, Anant Goenka was appointed as the MD of Apollo Tyres owned by $3.80 billion RPG Group.
JK Tyre
India’s 4th largest tyre manufacturer is JK Tyre owned by JK Organisation. JK Tyre holds 13% market share in India’s tyre industry. The company operates 9 manufacturing plants across India and produces more than 32 million tyres annually. In Mexico too JK Tyre has 3 plants which caters the global markets.
| Revenue | ₹11,982crore |
| Net Income | ₹200 crore |
| Market Share | 13% |
| Employees | 8,500+ |
| Headquarters | New Delhi |
Salary Of JK Tyre Chairman & MD – Raghupati Singhania
Raghupati Singhania is the chairman and MD of JK Tyre. His tenure as the JK Tyre chairman & MD started in 2013. His annual salary is ₹28 crore. In his term JK Tyre posted highest ever revenue of close to ₹12,000 crore in FY22.
BKT Tyres
BKT stands for Balkrishna Industries Limited and it is the 5th largest tyre company in India. BKT Tyres only manufactures off-highway tyres and holds 8% market share in India’s tyre market. The company operates 5 factories in India and in 2013 BKT Tyres ranked 41st among the world’s top tyre companies. BKT Tyres has a total tyre producing capacity of around 3.6 lakh tonnes per annum. It is one of the most reputed tyre manufacturer for minning, agriculture and earthmoving vehicles.
| Revenue | ₹8,295 crore |
| Net Income | ₹1,435 crore |
| Market Share | 8% |
| Employees | 6,000+ |
| Headquarters | Mumbai, Maharashtra |
Salary Of BKT Tyres Joint Managing Director – Rajiv Poddar
Rajiv Poddar is the joint managing director of BKT Tyres. He is the 3rd generation leading the company after his father and grandfather. Mahabirprasad Poddar is the founder of BKT Tyres who founded the company in 1987. Then Arvind Poddar succeeded him and now Rajiv Poddar is leading the way. In 2021, both Arvind Poddar and Rajiv Poddar got around ₹37 crore in salary.
Largest Tyre Companies In India And Their CMD Salary:
| Brand | Market Share | CMD | Salary |
| MRF Tyres | 25% | Rahul Mammen | ₹20 crore |
| Apollo Tyres | 18% | Onkar Singh Kanwar | ₹45 crore |
| CEAT Tyres | 11% | Anant Goenka | ₹25 crore |
| JK Tyre | 13% | Raghupati Singhania | ₹28 crore |
| BKT Tyre | 8% | Rajiv Poddar | ₹37 crore |
