December 2, 2024
Panther Tyres: the quiet growth story in the automotive industry
The company grew revenues by 38% in fiscal 2024 even as the industry struggled with slowing sales of cars and other automobiles
December 2, 2024
Panther Tyres Ltd. (PTL), a leading manufacturer of tyres and automotive components in Pakistan, reported a robust 38% year-on-year increase in revenue for the fiscal year ending June 30, 2024, driven by higher sales volumes and strong performance across domestic and export markets.
The company’s topline reached Rs29.5 billion in fiscal year 2024, compared with Rs21.4 billion the previous year, a 38% increase. Approximately 70% of sales stemmed from the replacement market, 15% from original equipment manufacturers (OEMs), and 15% from exports.
Export sales rose to Rs3.6 billion in fiscal year 2024, up from Rs3.1 billion in fiscal year 2023, with Turkey, Egypt, and Brazil emerging as key markets. Panther Tyres exported its full product portfolio, including tractor, off-the-road (OTR), and motorcycle tyres, highlighting its expanding global footprint.
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