Apollo Tyres lines up capital expenditure of Rs 2,600 cr for FY21, FY22

The company said that the demand is good and it is bullish about Q3 & Q4

Apollo Tyres is planning for a capital expenditure of around Rs 2,600 crore for the current and next fiscal year.

The company said demand continued to be positive and remained bullish about the third and fourth quarters as its factories were running at between 85 per cent and 90 per cent utilisation.

During an investors’ call, the company said it had invested around Rs 600 crore during the first half of 2020-21. European capex should be around €25 million to  € 30 million a year, they said.

Neeraj Kanwar, the company’s vice-chairman and managing director, said: “We are towards the end of our