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Apollo tyres: An overview

Oct 15, 2003

Apollo Tyres is one of India’s leading manufacturers of tyres with a strong presence in the commercial vehicle OEM segment (as a supplier to Telco and the like). It has market leadership in the truck tyre replacement segment. The company also supplies to car and tractor OEM majors (original equipment).

MRF: Challenging environment

Apr 3, 2002

Auto component majors, after touching their 52-week low levels in 2QFY02, have recovered in sync with other auto majors. While the recovery in auto sector would definitely benefit these players, there are some segments like tyres in which pricing power of manufacturers is slowly decreasing. MRF, one of the market leaders in the Indian tyre segment, has also been a victim on account of higher raw material costs and competition.

MRF: 2Q net declines 74% YoY

May 2, 2001

MRF Ltd, India's largest tyre manufacturer has reported dismal results for 2QFY01. The company's net profit has registered a decline of 74% YoY to Rs 43 m for 2QFY01 as compared to Rs 166.5 m for 2QFY00. Its turnover declined by 22% during this period due to the ongoing slowdown in the automobile sector.

MRF Ltd: 1QFY01 net falls 42%

Feb 1, 2001

MRF Ltd has reported a decline of 42% YoY in its net profit to Rs 96.4 m for 1QFY01 as compared to Rs 166.2 m for 1QFY00. Its turnover went up marginally by 0.5% to Rs 5,706 m.

MRF Ltd: Net profit down 35%

Dec 23, 2000

MRF Ltd has reported a decline of 35% YoY in its net profit to Rs 641 m for FY00 as compared to Rs 986.7 m for FY99. This is despite a 2% growth in turnover in FY00.

Apollo Tyres Ltd. net up 44%

Jul 31, 2000

The company has reported a 7.5% YoY increase in net sales for the 1QFY01 to Rs 3,509 m.

MRF Ltd : higher rubber prices result in fall in net

Jul 29, 2000

The company's sales have gone up by 5% YoY to Rs 6.1 bn in the 3QFY01, however due to a sharp rise in operating expenses the company's operating margins fell from 14.4% in 3QFY00 to 10.2% in 3QFY01. The expense which went up was of raw material as rubber prices have been on the rise. These took its toll on the company's margins.

Vikrant Tyres net up 20%

Feb 2, 2000

Vikrant Tyres has reported a net profit of Rs 69.1m for the 3QFY2000. Its net sales fell by 4.7% and expenses fell by 8%, hence profit growth has not come about from higher sales.

Apollo Tyres posts sharp rise in net

Jan 31, 2000

A rise in operating profits and a decline in interest expenditure has enabled Apollo Tyres to post a 264% jump in net profits during the quarter ended 31st December 1999. The company is benefiting from the rise in volumes on the back of increased demand from the automotive sector.

MRF hikes production to satisfy export demand

Dec 22, 1999

Tyre heavyweight, MRF plans to increase production by 20% in the next year to meet higher demand from export markets.

Consolidation comes down to the tyre!

Dec 20, 1999

The BK Birla group is in talks with Pirelli SpA of Italy to offload 50% of its stake in Birla Tyres in a deal worth around $150 million (Rs.6.5 bn).

Indian Rayon bullish on carbon black demand

Nov 24, 1999

Indian Rayon plans to expand its carbon black manufacturing capacity by 50,000 tonnes. The proposed hike in capacity will entail an investment of Rs 400 m by the company.

Tyre output up 10% in September

Nov 9, 1999

Turnaround in the auto sector has witnessed 10% appreciation in tyre production during the year. This was reported by a leading financial daily.

Apollo Tyres net catapults 92%

Nov 2, 1999

Apollo Tyres has registered net profit of Rs 286 m (up 91.8%) in 2QFY2000.Sales have increased by 25.5%.

Vikrant Tyres posts net loss

Nov 1, 1999

Vikrant Tyres has posted a net loss of Rs 13 m for the quarter ended 30th September 1999. The company has suffered on account of a sharp reduction in net sales and a jump in depreciation expenditure.

Ceat Tyres net lower by 10%

Oct 28, 1999

Ceat Tyres has reported net profit of Rs 31.8 m (down 10% year on year) in 2QFY2000. This was posted by a leading financial daily.

MRF to focus on exports

Jun 16, 1999

MRF has decided to focus on exports and is eyeing new markets in this regard. This decision has been taken in order to make up for the slump in tyre demand following the recession in the Indian economy over the past couple of years.

Spiraling rubber prices may skid tyre profits

Jun 15, 1999

The sharp spurt in rubber prices since April this year, is likely to put pressure on tyre company margins. Natural rubber accounts for 15% of production cost of tyre companies and about 23% of total raw material costs.

Downsizing fever catches Apollo Tyres

Jun 11, 1999

The Raunaq Singh led Apollo Tyres has drawn up plans to trim its workforce to emerge as a leaner and more cost effective company.

Apollo Tyres looking for buyouts in South East Asia

Jun 8, 1999

O S Kanwar, Vice Chairman and Managing Director of Apollo Tyres, has told the Economic Times that the company is currently looking at acquiring tyre units in South East Asia and India. The company is also planning to enter the truck radials segment of the market. In this regard, it is in talks with Continental AG of Germany for a technical tie up. The estimated cost of the project is between Rs 3-4 bn. The company has shelved its plans of setting up a greenfield facility to manufacture LCV and o

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