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MOTORINDIA
l
June 2012
Apollo Tyres
annual revenue grows
37% to cross $2.5 billion
Apollo Tyres Ltd.’s consolidated
annual revenues across operations
in Asia, Africa and Europe grew 37
per cent to reach Rs. 121.5 billion
($2.5 billion or Rs. 12,153 crores)
in 2011-12. Indian Operations’ rev-
enue grew 49 per cent as compared
to the previous year. Europe saw a
growth of 27 per cent, while African
operations also witnessed a 10 per
cent growth despite challenging lo-
cal circumstances.
Commenting on the results,
Mr. Onkar S. Kanwar, Chairman,
Apollo Tyres Ltd., said: “Despite
the challenging circumstances, we
have crossed yet another milestone
of $2.5 billion in 2011-12. The con-
ditions in our largest market, India,
have not been easy. The same ap-
plies for the South African economy.
But the positives are many – prima-
rily expansion of our passenger ve-
hicle range and the launch of 3 ultra
high performance tyres in Europe.
In the critical truck and bus radial
segment, we now enjoy a leadership
position in India, and are poised for
higher growth. The stability in the
raw material prices, especially in the
tyres
Mr. Onkar S. Kanwar, Chairman, Apollo Tyres Ltd.
Operating profit grew 18 per
cent to reach Rs. 12 billion from
Rs. 10.2 billion, and net profit
stood at Rs. 4.1 billion (Rs. 4.4
billion). The Board of Directors
has recommended a dividend
payout of 50 per cent.