The flagship of the Raunaq Singh group Apollo Tyres Limited (APOLLOTYRE) was incorporated in 1972. The company`s main business is the manufacture and sale of automobiles tyres, tubes and flaps. Its product range includes truck and bus bias, light truck bias and radial, passenger car radial, farm bias and radial. It also exports its products to South America, Pakistan, South East Asia, Middle East countries and Africa. It has a network of around 4,500 dealerships in India, of which over 3,000 are exclusive outlets and nearly 230 multi-brand Dunlop accredited dealers in South Africa and Zimbabwe. Apollo Tyres has plants in Perambra, Kerala, Vadodara, Gujarat and Pune. It is the second-largest tyre manufacturer in India with a total installed capacity of 250,000 million TPA.
The company`s joint venture with Michelin, France for producing dual branded truck & bus radial tyres in India is the market leader in the category. APOLLOTYRE in technical collaboration with General Tire International Company USA, produces some of India`s most advanced tyres for trucks, tractors, light commercial vehicles and cars. Mahindra and Mahindra and TAFC are its major OEM clients. APOLLOTYRE plans to enter the healthcare sector with a 500-bed hospital in Gurgaon with an investment of Rs 2,500 million. Artemis Health Sciences, a group company, would be a wholly-owned subsidiary of APOLLOTYRE and will have interests in medical education, research and manufacturing of medical accessories. The phase I would be completed in the next 18 months with an investment of around Rs 1,450 million. The company will also invest Rs 400 million in truck and bus radial (TBR) tyre projects in Limda.
Financials
The company announced fall of 43.02% in standalone net profit on y-o-y basis to Rs 661.94 million, while total income climbed 34.58% y-o-y basis to Rs 17.79 billion for the quarter ended March 2011.
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