Feel The Stretch
The rise affects the tyre industry and producers of rubber products such as footwear, bearings, and rollers, potentially impacting their profit margins due to higher raw material costs.
The rise affects the tyre industry and producers of rubber products such as footwear, bearings, and rollers, potentially impacting their profit margins due to higher raw material costs.
Apollo Tyres’ consolidated net profit jumped 164% YoY to ₹474 crore in Q2 FY24; revenue was up 5% at ₹6,280 crore.
The company has proposed a capacity addition of 19.45% by October 2025 with a capital investment of ₹1,025 crore.
Global giants operating in India are evaluating if it makes economic sense to invest in a new plant, in light of the country's tyre import ban.
DGFT, in a bid to promote domestic manufacturing, has put tyres under the restricted category. That has meant that an importer now requires a license for imports. The replacement market has been hit.