 "Apollo Tyres partners up with BCCI")
Its sponsorship deal with the Board of Control for Cricket in India (BCCI) will make Apollo Tyres one of the biggest ad spenders in the automotive industry, rivalling many vehicle makers.
Apollo Tyres’ advertisement expenditure is high compared to that of its domestic peers.
Additional spending on brand promotion after becoming the lead sponsor for the Indian cricket team could weigh on its margins and profits at least in the short run.
Early this month Apollo Tyres signed a deal with the BCCI to become the new lead sponsor of Team India for the next 30 months for ₹575 crore.
