🛞 Innovative Tyres Is Up 1457% – But It Has No Profits, No Promoters (Until Recently), and No Clue
Date of Publishing -
Spotted a factual error — a wrong number, date, or fact? Tell us and we will check the source.
At a Glance
Innovative Tyres makes bias tyres and tubes and exports to 40+ countries. But from FY19 onwards, the company’s revenues collapsed, net worth turned negative, and the balance sheet looks like a stunt double for Swan Defence. Yet the stock jumped from ₹6 to ₹88 in a year. Coincidence? Or operator ka magic?
1. 🧻 WTF Do They Even Do?
Founded in 1995, headquartered in Gujarat
Makes bias tyres (not radials) for trucks, agri vehicles, bikes & 3-wheelers
Major business comes from exports to 40+ countries
Does job work for other tyre brands
Basically, it’s not MRF. It’s the guy who might make tyres for MRF and bill them quietly.
But here’s the twist:
Revenue fell from ₹172 Cr in FY19 → ₹1.6 Cr in FY23 → ₹33 Cr TTM (recovery?)
Yet shareholding changed drastically in 2024 👀
2. 💀 Financials – Punctured Past, Flat Future?
Year
Sales
Net Profit
OPM
ROCE
FY19
₹172 Cr
₹0.99 Cr
4.3%
2%
FY22
₹51 Cr
–₹58.9 Cr
–98%
–74.9%
FY23
₹1.6 Cr
–₹52.9 Cr
–3295%
–305.8%
FY24
₹14.2 Cr
₹34.5 Cr (Other Income)
–53%
–26.6%
TTM
₹33.7 Cr
–₹9.23 Cr
–39%
N/A
That FY24 ₹34 Cr “profit” is purely one-time other income (maybe land sale or writeback), not
