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Goodyear India Ltd. has performed reasonably well, thus far in nine-months of FY21 in spite of the Covid-19 disruption.
On a year-to-date basis, net sales are down approximately 11% YoY (Q2 FY21, Q3 FY21 growth at 6.0%, 20.7% YoY, respectively).
Margins, however, are higher by ~400 basis points YoY to 12.2% (includes multi-year high readings of 15.3% and 14.5% in Q2 FY21 and Q3 FY21, respectively).
Consequent nine months FY21 profit after tax is higher by 22.5% YoY to Rs 93 crore despite loss after tax of Rs 4.5 crore in Q1 FY21.
The company also declared an all-time high interim dividend of Rs 80 per share in December 2020.
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