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Apollo Tyres Ltd.

BSE: 500877 Sector: Auto
NSE: APOLLOTYRE ISIN Code: INE438A01022
BSE 00:00 | 16 Nov 226.60 -3.20
(-1.39%)
OPEN

229.00

HIGH

231.25

LOW

224.20

NSE 00:00 | 16 Nov 226.25 -3.75
(-1.63%)
OPEN

229.00

HIGH

231.40

LOW

224.10

OPEN 229.00
PREVIOUS CLOSE 229.80
VOLUME 106619
52-Week high 307.15
52-Week low 192.10
P/E 15.80
Mkt Cap.(Rs cr) 12,964
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 229.00
CLOSE 229.80
VOLUME 106619
52-Week high 307.15
52-Week low 192.10
P/E 15.80
Mkt Cap.(Rs cr) 12,964
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Apollo Tyres Ltd. (APOLLOTYRE) - Company History

Apollo Tyres Ltd is the leading tyre manufacturing company in India. They are engaged in manufacturing automobile tyres and tubes. They are the first Indian tyre company to launch exclusive branded outlets for truck tyres and also the first Indian company to introduce radial tyres for the farm category. Apollo Tyres currently has four manufacturing facilities in India -- two (including a leased facility) in the rubber-producing state of Kerala and one each in Gujarat and Tamil Nadu. Outside India the company has a manufacturing facility each in The Netherlands and Hungary.The company was incorporated on September 28 1972. They started their production in the year 1977 at Perambra in Kerala. In the year 1991 the company commissioned their second plant at Limda in Gujarat. In the year 1995 they acquired Premier Tyres at Kalamassery in Kerala. In the year 1996 exclusive tubes plant commissioned in Ranjangoan in Maharashtra and in the year 2000 they established exclusive radial capacity in Limda.On November 17 2003 the company entered into an strategic alliance Michelin France for setting up a joint venture company namely Michelin Apollo Tyres Pvt Ltd for producing dual branded truck & bus radial tyres in India. In the year 2004 they produced India's first H-speed rated tubeless passenger car radial tyres. Also they increased the production capacity of Automobile Tyres and Automobiles Tubes by 1283560 Nos and 414000 Nos respectively and in the next year they further increased the production capacity by 1466432 Nos and 1567200 Nos respectively.During the year 2005-06 the company incorporated a wholly owned subsidiary company Apollo (Mauritius) Holdings Pvt Ltd in Mauritius and they also formed Apollo Automotive Tyres Ltd and Apollo Radial Tyres Ltd as wholly owned subsidiaries of the company. In the same year PTL Enterprises Ltd ceased to be a subsidiary company. Also the company realigned their relationship with Michelin and exited from the joint venture company Michelin Apollo Tyres (P) Ltd.The company increased the production capacity of Automobiles Tyres and Automobile Tubes by 1045632 Nos and 1379360 Nos respectively during the year 2005-06 and they further increased the production capacity by 888340 Nos and 218440 Nos during the next year. During the year 2007-08 they increased the production capacity of Automobile Tyres by 836620 Nos. Thus the total capacity for Automobile Tyres and Automobile Tubes increased to 9659232 Nos and 6741000 Nos.On April 21 2006 the company acquired Dunlop Tyres International (Pty) Ltd South Africa. During the year 2006-07 they increased the manufacturing capacity of Camel Back/Pre Cured Tread Rubber by 217000 Nos to 220000 Nos and in the next year they further increased to 248040 Nos.The company incorporated Apollo Tyres AG Switzerland as a wholly owned subsidiary with effect for July 4 2007. Also two subsidiaries namely Apollo Automotive Tyres Ltd and Apollo Radical Tyres Ltd have been desubsidiarized with effect from December 21 2007.In May 2008 the company opened their first full-services branded commercial vehicle tyre outlet called Apollo Trust in Salem Tamilnadu. In September 2008 Apollo Tyres launches XT-100K which is a cross-ply tyres designed for unmatched performances.On 10 February 2011 Apollo Tyres formally inaugurated its 9th global tyre manufacturing unit and the 4th in India on the outskirts of Chennai city. The Chennai plant currently produces 7000 passenger vehicle tyres and 1300 commercial vehicle tyres a day. At its terminal capacity production is expected to reach 16000 passenger vehicle and 6000 commercial vehicle tyres a day.On 30 May 2011 Apollo Tyres announced the launch of India's only full-service outlet for commercial vehicles Apollo Commercial Vehicle (CV) Zone on the outskirts of Delhi in Sanjay Gandhi Transportnager.On 14 June 2011 Apollo Tyres announced its entry into Sri Lanka market through a tie-up with Ideal Motors the automobile distribution and marketing arm of the Ideal Group of Companies. Initially Apollo Tyres will focus on passenger vehicle and cross-ply truck and light truck tyres. This will be gradually expanded over time to include Apollo's entire range currently sold in India including truck bus radial agriculture and off-highway tyres if and when needed. On 10 May 2012 Apollo Tyres announced that its consolidated revenue crossed yet another milestone of US$ 2.5 billion in the year 2011-12 despite challenging circumstances.On 14 January 2013 Apollo Tyres announced the opening up of its global R&D centre in Enschede the Netherlands. This state-of-the-art facility will serve as a hub for the development and testing of car and van tyres for all product brands -- Apollo Vredestein and Dunlop (32 countries in Africa) -- of the company. On 2 May 2013 Apollo Tyres inaugurated its Sales Office in Bangkok to serve the entire ASEAN region with Thailand as the hub of operations. The ASEAN region has gradually become one of Apollo's strongest export markets out of India accounting for more than 40% of exports revenue.On 12 June 2013 Apollo Tyres and Cooper Tire & Rubber Company (NYSE: CTB) announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately Rs 14500 crore. Under the terms of the agreement which has been unanimously approved by the boards of directors of both companies Cooper stockholders will receive $35 per share in cash. The transaction represents a 40% premium to Cooper's 30-day volume-weighted average price. Cooper the 11th-largest tire company in the world by revenue was founded in 1914 and supplies premium and mid-tier tires worldwide through renowned brands such as Cooper Mastercraft Starfire Chengshan Roadmaster and Avon. The combined company will be the seventh-largest tire company in the world and will have a strong presence in high-growth end-markets across four continents. With a combined $6.6 billion in total sales in 2012 the combined company will have a full range of brands and greater ability to satisfy customer needs worldwide. The transaction is expected to be immediately accretive to Apollo's earnings.On 2 December 2013 Apollo Tyres announced the closure of the transaction with Sumitomo Rubber Industries (SRI) wherein SRI takes over Apollo Tyres South Africa (ATSA) including the Ladysmith passenger car tyre plant and the Dunlop brand rights that Apollo had in 32 countries of Africa for US$ 60 million. Apollo retains the Durban plant which manufactures Truck & Bus Radial (TBR) tyres and Off Highway tyres (OHT) used in the mining and construction industries. Post this transaction Apollo Tyres will continue to sell Apollo Vredestein and Regal branded tyres in Africa and at the same time focus on creating and strengthening its sales and distribution network across the continent.On 5 December 2013 Apollo Tyres announced the introduction of its premium European brand Vredestein in India. These premium tyres would be sold through multi-branded outlets including existing Apollo Zones.On 26 February 2014 Apollo Tyres announced its entry into the growing Qatar market in the Middle East region. The entry was marked with a product introduction to the Business Partners in Qatar. This entry is part of the company's strategy to enter newer markets across geographies.On 15 May 2014 Apollo Tyres announced that its consolidated net profit crossed Rs 1000 crore in financial year 2013-14. The Board of Directors of the company at its meeting held on 15 May 2014 approved Greenfield project in Eastern Europe at a project cost of about Euro 500 million over the next 4 years funded with internal accruals and debt at its European subsidiary. The planned capacity of the Greenfield project is expected to be 16000 passenger car tyres per day and 3000 Truck Bus Radial Tyres per day.On 13 December 2014 Apollo Tyres announced the launch of the dual branded Apollo & Manchester United tyres in Thailand. Thailand is the first country in Asia and only the second country globally after United Kingdom to see the launch of the Manchester United branded tyre. The tyres will be available at Apollo's retail network partners nationwide with prices starting at Baht 2000 per tyre depending on size of tyres that range from 15-16 inches for the market in Thailand.On 26 August 2015 Apollo Tyres announced that it has successfully closed a Rs 300 million financing for its Greenfield plant in Hungary. An international consortium of banks consisting of ABN AMRO Bank N.V. Magyar Export-Import Bank Zrt. Raiffeisen Bank Zrt. Standard Chartered Bank and UniCredit Bank Hungary Zrt. supported the company and provided the debt financing.On 5 October 2015 Apollo Tyres inaugurated it first branded retail outlet in Lebanon. Branded as Apollo Zone this outlet is designed to provide customers with an enhanced retail experience and a better feel for the brand and products on display including passenger car truck- bus and agriculture tyres.On 26 October 2015 Apollo Tyres inaugurated two new Apollo Zones - the company's branded retail outlets -- in Amman Jordan. These outlets are designed to provide customers with an enhanced retail experience and a better feel for the brand and products on display including passenger car truck-bus and agriculture tyres.On 16 November 2015 Apollo Tyres announced the acquisition of Reifencom GmbH one of the largest tyre distributors in Germany for Euro 45.6 million. Reifencom GmbH has an online presence in 6 countries -- Germany France Italy Austria Switzerland and Denmark. In addition it operates 37 stores and service centers across Germany.On 7 March 2016 Apollo Tyres launched Apollo Acti series two wheeler tyre thereby making its foray in two wheeler tyre segment. Designed and developed at the company's Global R&D Centre in Chennai Apollo Acti series for bikes and scooters would cover nearly 85% of the replacement market for two-wheeler tyres in India.On 30 May 2016 Apollo Tyres inaugurated the company's Malaysian office. Subsequent to setting-up its sales & distribution hub in Bangkok for the ASEAN region Apollo Tyres has been increasingly focusing on expanding its footprint in South East Asia. The company is targeting a bigger share of the pie in the Malaysian replacement tyre market which has an annual capacity of 580000 truck-bus radials and 9.5 million passenger car tyres. Apollo Tyres is building a complete team of sales and service personnel to service the Malaysian customers. On 15 September 2016 Apollo Tyres launched three new truck-bus radials Apollo EnduRace RD HD Apollo EnduMile LHD and Apollo EnduComfort CA. The new product introduction is part of the company's overall strategy to dominate the truck-bus radial category in IndiaOn 9 November 2016 Apollo Tyres formally inaugurated its Global R&D Centre Asia just outside the southern Indian city of Chennai. This is company's 2nd Global R&D Centre after the Global R&D Centre Europe in the Netherlands which is operational since 2013. On 10 April 2017 Apollo Tyres introduced Apollo Apterra HT2 tyre for the growing 4x4 and SUV segment and the actiZip F2 and actiZip R3 tubeless tyres for motorcycles.On 10 April 2017 Apollo Tyres formally inaugurated its tyre manufacturing unit in Hungary. Located less than 100 km from the capital Budapest this is Apollo Tyres' first greenfield facility outside India. This facility will help us further increase the company's presence and market share in Europe. The company is investing Euro 475 million in this facility. The final capacity at the end of Phase I would be 5.5 million passenger car & light truck (PCLT) tyres and 675000 commercial vehicle tyres. This facility will complement Apollo Tyres' existing facility in the Netherlands and will produce both Apollo and Vredestein brand of tyres for the European market.On 27 April 2017 Apollo Tyres announced its debut in the extremely competitive Truck and Bus Radial (TBR) tyre segment in Europe at the ongoing Commercial Vehicle Show in Birmingham. It has also become the first and only manufacturer to launch its TBR range exclusively online with a new go-to-market approach.On 18 July 2017 Apollo Tyres announced the launch of its two-wheeler tyres in Sri Lanka. Since its introduction in the Sri Lankan market in 2011 Apollo's products have been well accepted across the country; and this has prompted the company to introduce its two-wheeler range as well to service the estimated 250000 - 300000 vehicles a year market.On 6 September 2017 Apollo Tyres announced that the company's premiere tyre brand Vredestein has been selected as a fitment on the Volkswagen Polo SEAT Ibiza and Ford EcoSport and the supplies have already begun to these European Original Equipment Manufacturers. By entering the supply chains of world-leading carmakers such as Volkswagen Ford and SEAT Apollo Tyres has embarked on a very important journey with European OEMs.The foundation stone of Apollo Tyres' ultra modern global scale manufacturing facility located in Chinnapanduru village Chittoor district in the state of Andhra Pradesh was laid on 10 January 2018. Apollo Tyres has purchased 200 acres of land from the AP Govt for the manufacturing facility and would be investing close to Rs 1800 crore in the first phase. The construction will start within the next 6 months and the tyres are expected to start rolling out from this facility in the following 24 months. The company plans to start with manufacturing of passenger vehicle tyres in this facility due to the growing demand in this segment and will later on expand to start producing other product categories as well.On 5 March 2018 Apollo Tyres announced that it is launching a brand-new summer tyre onto the market called the Apollo Aspire XP. Leveraging on the very latest developments in terms of construction and material technologies the Aspire XP combines outstanding levels of on-road comfort with a high degree of safety. Featuring a total line-up of 52 SKUs the Aspire XP replaces Apollo's range of Aspire 4G and Apterra HP tyres.