Apollo Tyres speeds up on eyeing 50% growth in export revenue

Apollo Tyres is currently trading at Rs. 166.55, up by 0.55 points or 0.33% from its previous closing of Rs. 166.00 on the BSE. The scrip opened at Rs. 165.80 and has touched a high and low of Rs. 168.65 and Rs. 165.05 respectively. So far 133702 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 170.50 on 07-Apr-2014 and a 52 week low of Rs. 54.60 on 21-Jun-2013. Last one week high and low of the scrip stood at Rs. 169.50 and Rs. 159.00 respectively. The current market cap of the company is Rs. 8392.01 crore. The promoters holding in the company stood at 43.50 % while Institutions and Non-Institutions held 38.15 % and 18.35 % respectively. 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.