Apollo Tyres expects 50% growth in export revenue: Report

Apollo Tyres is reportedly expecting 50 per cent increase in export revenue from Asia Pacific, West Asia and North African markets in this fiscal. The region has contributed around 11 per cent of the company’s turnover of Rs 8,507 crore in FY13. Meanwhile, the company has set up its own dealership network with 18 people on ground. The marketing structure is the same as in India and does not involve any intermediary. While the company nurtures a long term dream of setting up manufacturing base in ASEAN (Association of South East Asian Nations), so as to further reduce the cost of distribution, Apollo claims its competitively priced truck bus radials, are doing exceedingly well in the Philippines. Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.