History

Apollo Tyres Limited is an Indian tyre manufacturing company headquartered in Gurgaon, Haryana. Established in 1972, it received a certificate of business commencement later that year. The company was promoted by various entities, including Bharat Steel Tubes, Ltd., Raunaq International Pvt. Ltd., and individuals like Raunaq Singh, Mathew T. Marattukalam, and Jacob Thomas. In 1975, Apollo Tyres made its initial public bringing forth (IPO), and by 1977, its first manufacturing facility in Perambra Plant, Thrissur, Kerala, became operational. A second plant in Limda, Gujarat, was established in 1991. In 1995, the company gained complete control of Premier Tyres Limited (PTL), which became its third plant in Kochi, Kerala. In 2008, a new plant in Chennai, Tamil Nadu, began operations. In 2009, the company expanded further by acquiring the Netherlands-based tyre maker Vredestein Banden B.V. (VBBV). Apollo Tyres initially core priorityed on producing truck tyres in India and introduced its first truck tyre, the Rajdhani. The company expanded its operations within India and, in 1996, ventured outside India by acquiring Dunlop's Africa operations. In 2013, it sold the Dunlop brand in Africa to Sumitomo Rubber Industries of Japan. That same year, it launched its Global R&D Centre in Europe, located in Enschede, the Netherlands. In 2015, Apollo Tyres gained complete control of Germany's Reifencom tyre distributor. It shifted its corporate office for the European region to Amsterdam and opened a Global R&D Centre in Asia, based in Chennai, India. In 2016, the company signed an MoU with the Government of Andhra Pradesh to establish a new factory. The plant, near Sri City in Tirupati district, will produce passenger car radial (PCR) tyres and truck bus radial (TBR) tyres for both domestic and export markets. Apollo Tyres now operates manufacturing units in India, the Netherlands, and Hungary, with a wide network of 6,000 dealerships. It ranks among the top 20 global tyre makers under the brand names Apollo and Vredestein.

Business Segments

Apollo Tyres is a leading global tyre manufacturer with a presence in over 100 countries. The company's business segments are as follows:

1. Passenger Vehicle Tyres:This segment is the largest contributor to Apollo Tyres' revenue. The organization manufactures a wide range of passenger vehicle tyres for all types of vehicles, including sedans, hatchbacks, SUVs, and MPVs. Apollo Tyres' passenger vehicle tyres are known for their quality, performance, and safety.
2. Commercial Vehicle Tyres:This segment includes a wide range of commercial vehicle tyres for all types of trucks, buses, and vans. Apollo Tyres' commercial vehicle tyres are known for their durability, fuel efficiency, and load-bearing capacity.
3. Two-Wheeler Tyres:This segment manufactures a wide range of two-wheeler tyres for motorcycles, scooters, and mopeds. Apollo Tyres' two-wheeler tyres are known for their grip, handling, and puncture resistance.
4. Specialty Tyres:This segment includes various tyres for agricultural, industrial, and off-highway vehicles. Apollo Tyres' speciality tyres are known for their durability, performance, and adaptation to specific applications.
5. Retreading Materials and Tyres:This segment includes retreading materials, which are used to extend the lifespan of tyres, and retreaded tyres, which have been restored to a usable condition.

Subsidiaries of Apollo Tyres Limited

The company has several subsidiaries, including,

1. Apollo Vredestein B.V.:Apollo Vredestein B.V. is a Dutch tyre manufacturer based in Enschede, Netherlands. The company was established in 1909 and was gained complete control of by Apollo Tyres in 2009. Apollo Vredestein produces many passenger cars, SUVs, and light truck tyres for the European market.
2. Reifencom GmbH:Reifencom GmbH is a German tyre distributor based in Bielefeld, Germany. The company was established in 1990 and was gained complete control of by Apollo Tyres in 2015. Reifencom GmbH distributes Apollo and Vredestein tyres to dealers in Germany and Austria.
3. Apollo Tyres Centre of Excellence Limited:It is an Indian research and development company based in Gurgaon, India. The company was established in 2003 and is responsible for developing new tyre technologies for Apollo Tyres.

Key Personnel

Onkar Kanwar, Chairman Onkar Kanwar is the Chairman of Apollo Tyres Ltd. He is the chief architect of the company's vision and value-driven business strategy. Under his leadership, Apollo became a professionally managed and globally recognised tyre manufacturer. As a visionary entrepreneur, he is critical to articulating the company's business philosophy. Registered in 1976, Apollo Tyres, under his guidance, transformed itself from an Indian manufacturer of commercial vehicle tyres to a global entity with a full-fledged product portfolio spanning three continents. Currently, he is the Chairman of the BRICS Business Council in India. Onkar Kanwar has a keen interest in the fields of education and healthcare. Artemis Health Sciences, promoted by him, is an enterprise core prioritying on state-of-the-art medical care and administers a cutting-edge multi-speciality medical facility that core priorityes on holistic treatment.

Corporate Actions

Face Value Split

• Apollo Tyres Limited implemented a stock split on August 27, 2007, dividing each share into ten shares, resulting in a face value of ₹1 per share.

Financial Performance

1. Apollo Tyres' revenue surged by 12% in the last fiscal year, primarily driven by the robust performance in India's commercial vehicle (CV) and passenger vehicle (PV) segments, which accounted for 70% of the total revenue.
2. The organization's EBITDA margin improved by 2.5% owing to increased investments in R&D, reaching an impressive 14%, showcasing enhanced operational efficiency and cost management.
3. Apollo Tyres achieved a 15% year-on-year growth in market share for two-wheeler tyres in India, indicating substantial market acceptance and potential for scaling up further.
4. With a 20% growth in the premium OEM segment in India, Apollo Tyres established stronger ties with global OEM manufacturers, paving the way for higher revenues and market expansion.
5. The introduction of exclusive EV tyre ranges contributed to a 25% increase in revenue from the electric vehicle segment, marking the organization's leadership in catering to this emerging market.
6. The recent product launches of Vredestein Wintrac Pro and Vredestein Quatrac Pro received top ratings from external media and testing agencies, leading to a 10% boost in sales within Europe's premium car tyre segment.