APOlLO TYRES LIMITED
Apollo
Tyres Limited is an Indian multinational tyre manufacturing company
headquartered in Gurugram, Haryana. It was incorporated in 1972,
and its first plant was commissioned in Per Ambra in Thrissur, Kerala.
The company now has five manufacturing units in India, one in the
Netherlands and one in Hungary. The company generates 69% of its
revenues from India, 26% from Europe and 5% from other countries.
Apollo announced its entry into the three-wheeler tyre segment with
contract manufacturing in March 2018.
APOlLO TYRES LIMITED
Company type Public
Traded as NSE: APOLLOTYRE
BSE: 500877
ISIN INE438A01022
Industry Tyres
Founded 1972; 53 years ago,
Headquarters Gurugram, Haryana, India
(Corporate)
Kochi, Kerala, India
(Registered)
Key people Onkar Kanwar
(Chairman)
Neeraj Kanwar
(Vice Chairman & MD)
Revenue ₹25,531 crore (US$2.9
billion) [3] (2024)
operating income Increase ₹2,617 crore
(US$300 million) [3] (2024)
Net income Increase ₹1,721 crore
(US$200 million) [3] (2024)
Total assets Decrease ₹26,957 crore
(US$3.1 billion) [4] (2024)
Total equity Increase ₹13,902 crore
(US$1.6 billion) [4] (2024)
Numberofemployee 17,985 (2024)
website apollotyres.com
History:
APOlLO TYRES LIMITED
The company focused on the production of truck tyres in India and introduced its first
truck tyre, Rajdhani in India. The company expanded its operation across India and in
1996, expanded operations outside India by acquiring Dunlop's Africa operations. In
2013, it disposed of the Dunlop brand in Africa along with most of the South African
operation in a sale to Sumitomo Rubber Industries of Japan. The very same year, it
started its Global R&D Centre, in Enschede, the Netherlands.
In 2015, Apollo Tyres bought Germany's Re-fence tyre distributor for €45.6 million. It
shifted its corporate office for Europe region to Amsterdam from Enschede, the
Netherlands and opened a Global R&D Centre, Asia in Chennai, India a few months
later.
In 2016, the company signed an MoU with the Government of Andhra Pradesh to set
up a new factory in the state. On 9 January 2018, the Chief Minister of Andhra
Pradesh, N Chandrababu Naidu laid the foundation stone for Apollo Tyres' ₹1,800-
crore tyre factory in Andhra Pradesh. The plant will come up over a 200-acre site in
Rhinelander village near Sri City in Tirupati district and produce passenger car radial
(PCR) tyres with an initial capacity of 55 lakh (5.5 million) tyres per year and also truck
bus radial (TBR) tyres and will serve both domestic and export markets.
The company's second plant in Europe, was inaugurated by the Hungarian Prime
Minister, Viktor Orban, in April 2017.
APOlLO TYRES LIMITED
European operations:
Apollo Tyres currently sells Apollo and Gradstein (or Maloya) branded tyres in
Europe. The company currently operates two tyre factories in Europe; in
the Netherlands and in Hungary. The Enschede plant was acquired from Gradstein,
the newly built facility southeasterly from Gyöngyöshalász was inaugurated for
production on 7 April 2017.
Anti competition practices:
In April 2022, the Competition Commission of India raided the headquarters of
Apollo Tyres along with other tyre companies like CEAT, MRF (Madras
Rubber Factory) and Continental Tyre at multiple locations. Earlier in February
the anti trust watch dog had released a statement about fining these tyre
companies a total of ₹1,788 crores (of which Apollo Tyres fined ₹425.53 cr.)
for sharing price sensitive information among themselves to manage their
cartelization of tyre prices for supplies to the public transport corporation of
Haryana state. Earlier the All India Tyre Dealers Federation had complained to
the Ministry of Corporate Affairs about this cartelization of these companies to
increase the tyre prices. The ministry had then referred the case to the CCI.
APOlLO TYRES LIMITED
REFERENCES:
1. "Apollo Tyres opens R&D centre in Netherlands". The Hindu Business Line. 14
January 2013. Retrieved 17 August 2017.
2. ^ "Apollo Tyres may miss 2020 revenue target". 16 November 2015. Retrieved 14
December 2015.
3. ^ "Apollo Vredestein management now based in Amsterdam". Tyrepress. 20 May
2016. Retrieved 17 August 2017.
4. ^ www.ETAuto.com. "Apollo Tyres opens its Global R&D Centre, Asia in Chennai -
ET Auto". ETAuto.com. Retrieved 17 August 2017.
5. ^ "Apollo Tyres plans ₹500-cr factory in Andhra Pradesh" . The Hindu Business Line.
9 November 2016. Retrieved 17 August 2017.
6. ^ Mukherjee, Sharmistha (9 January 2018). "Apollo Tyres to invest Rs 1800 crore in
first phase in Andhra Pradesh". The Economic Times. Retrieved 25 February 2020.
7. ^ Balachandar, G. (9 January 2018). "Apollo Tyres to invest ₹1,800 cr in Andhra
Pradesh factory". @businessline. Retrieved 25 February 2020.
8. ^ "Hungary Prime Minister Viktor Orban opens Apollo Tyres plant near
Budapest". The Financial Express. 8 April 2017. Retrieved 12 June 2017.
9. ^ "H.E. PM Viktor Orbán inaugurates the Apollo Tyres plant in
Gyöngyöshalász". Indian Embassy Hungary. 7 April 2017. Archived from the
original on 8 April 2017. Retrieved 12 June 2017.
10. ^ Bureau, BS B2B (10 April 2017). "Apollo Tyres starts production from Hungarian
plant". Business Standard India. Retrieved 12 June 2017. {{cite news}}: |last= has
generic name (help)
11. ^ "Apollo Tyres stock hits 52-week high after 2-fold rise in Q3 profit to Rs 444 crore" .
4 February 2021.
