Apollololo Medium Term Agency Tires set a timely revenue target of 50 (core $366 billion (core $366 billion) Rs 100 crore per annum up from Rs 1173.3 crore in FY211. Gurgaon-based Apollo Tyres said demand for various products has rebounded sharply since the state government eased the regional blockade earlier in June this year. However, demand from commercial vehicle manufacturers is slowing down and growth is expected to resume in the coming quarters.

“In terms of the demand environment, the impact of the second wave of the epidemic and blockade has been the biggest this month. since May, we have seen a strong recovery in demand for various products. Onkar Kanwar, Chairman, Apollo Tyres According to The Economic Times, the OEMs have been the slowest to recover and are expected to take a quarter to accelerate. He further added that despite the absence of Apollo Tyres, the company is seeing good momentum in a variety of replacement parts segments. “For FY22, we had previously announced a capex of Rs 18 billion and are in the process of executing that plan. We will continue to monitor the situation closely to see if there is a slowdown in demand, which could lead to some degree of delay in capex. But what is certain is that the capex numbers for FY 2022 are not too far away. ” Kanwar said. Currently, the company is operating over 80% of its production units.

To minimize business risks, the company has been expanding its overseas markets. The company has a complete Apollolool. with Vrestein Based on the branded commercial and passenger tire line, it offers a full range of branded products in North America. Apollo Tyres aims to continue to grow its business organically in the United States.

In fact, Apollo Tyres’ international business has outperformed its Indian peers, especially in the last quarter, the company said. In Europe, the company gained market share in truck, bus and agricultural tires.

Kanwar “Over the last few years, we have been building overseas markets because we are not just dependent on one region.” R&D and brand building is done in the region and our sales in the region are increasing.

In the medium term, Apollo Tires has set a revenue target of $5.01 billion (core value of about $36,600) Rs 100 crore), up from Rs 173.97 crore in FY21. Kanwar said that with the accelerating pace of digitization of the global epidemic and a number of changes in the autonomous driving industry, including electrification and autonomous driving, this will be a key area for the company as it grows.

Kanwal said that with the increase in investments, costs have been rising over the past few months, which has put pressure on margins. Raw material prices are expected to rise by 5% in the current quarter compared to the previous quarter. We have taken some price adjustments and some internal cost control measures to offset the rising investment costs and this is an ongoing process,” Kanwar added. The Chinese economy is slowing down and raw material prices are now falling. The coronavirus epidemic has softened it.