NEW DELHI: Apollo Tyres has scheduled a capital expenditure of Rs 250 crore for its new manufacturing plant which was recently commissioned in Hungary is expected to start construction activities at the new plant in Andhra Pradesh in the second half of this year.

Apollo Tires Gaurava Kumar said on a conference call with analysts, “Total revenue in rupee terms is around Rs 250 1 crore with almost 50-50 split between India and Europe.”

For its European operations, the company has secured around 1.8 CAPEX 100 million euros for the current fiscal.

“For 2018 Kumar said, ” Fiscal year Europe’s capital expenditure and minor maintenance for Hungary will be around 180 million euros.”

Apart from Hungary, the company’s other manufacturing plants in Europe are located in the Netherlands.

Commenting on the outlook for the current fiscal year, Kumar said that growth prospects are good as the government is focused on infrastructure development.

“We expect the demand outlook for fiscal year 20188,” he added Fiscal year demand outlook will again see double-digit growth.”

On the company’s upcoming plant in Andhra Pradesh, Kumar said, “We continue to work on selecting land for our next greenfield site in Andhra Pradesh, India, and construction is likely to start from the second half of this year.”

The company plans to manufacture tires for all product lines, including two-wheelers, at its Andhra plant.

Last year, the company used Acti The range has entered the two-wheeler segment, where sales are expected to grow gradually.

Kumar said, “We continue to target growth in the (two-wheeler) segment, but the fact is that given our size, sales will only grow gradually.” .

Currently, the company has rolled out around 10,000,000 two-wheeler tires.

Kumar said, “We remain very optimistic about the product segment, which will continue to grow progressively and eventually become an important part of the Apollo portfolio.”

The company also plans to increase the prices of its products.

Kumar said, “Considering the pressure on raw materials, we have implemented almost 6% price increase since the beginning of the year and as mentioned earlier, there is a need to increase prices further.” . “The purpose of the price hike is to offset the overall price increase.” Impact of raw materials. ‘

However, the size and timing of the expected price increases have not been specifically disclosed.