Apollo Tyres Ltd.’s consolidated revenues, across all operations, closed at Rs. 117 billion (Rs. 11,708 crores during 2015-16). During the period the company reported a net profit of Rs. 10.9 billion (Rs. 1,093 crores). Net sales for the fourth quarter closed at Rs. 30 billion (Rs. 2,966 crores), and net profit for Q4 was Rs. 2.45 billion (Rs. 245 crores).
Commenting on the results, Mr. Onkar S. Kanwar, Chairman, Apollo Tyres Ltd., said: “Our revenue in India in the past financial year has largely been impacted by the Chinese imports. The imported truck-bus radials, especially from China, occupied close to 30% of the Indian replacement market for radial truck tyres, which not only impacted the domestic truck-bus radials but also the truck-bus bias segment. With India having no anti-dumping duties in the past fiscal on Chinese tyres and numerous other geographies having imposed anti dumping duties on Chinese tyres, India has opened its market for low-cost tyre imports from China, thereby putting at risk the huge investments made by the domestic tyre majors.”
He added: “Our European operations have been impacted due to the SAP implementation. Having said that, we are confident that the team would be able to resolve the challenges very soon. With the addition of Reifen.com, we are looking at maximising on the new business vertical. We believe that there is a huge potential in further developing this business model across geographies.”
Safe Drive Campaign in Thailand
During the Safe Drive Campaign, representatives from Apollo Tyres conducted free checks on tyres of more than 315 vehicles at the Bangkok-Chonburi Motorway Service Centre (Outbound) and Thap Chang Service Centre at KM 48+300 Bangpa-in Motorway. This campaign was conducted by Apollo Tyres in association with Don’t Drive Drunk Foundation, The Department of Highways, The Road Safety Policy Foundation Thailand and U Drink I Drive. The motorists were told how to extend the life of tyres and avoid accidents through proper tyre care. The importance of maintaining correct tyre pressure, use of valve caps, tyre rotation and wheel alignment & balancing was stressed on the occasion.
Speaking on the survey results, Shubhro Ghosh, Group Head, ASEAN Region, Apollo Tyres Ltd., said: “I am very happy to see that the motorists in Thailand are taking good care of their tyres, which is very important for driver and passenger safety. This is the most satisfactory survey results that we have received in all the Safe Drive Campaigns that we have conducted in various countries across the world to encourage and ensure healthy driving habits amongst all.”
The Safe Drive Campaign of Apollo Tyres, with its regional hub in Bangkok for the ASEAN region, has been recognised and awarded by the International Institute of Road Traffic Education and has been undertaken in India, the Middle East, Iran, Turkmenistan, Bangladesh and Sri Lanka.