Annual revenue crosses US$ 2.5 billion

Annual revenue crosses US$ 2.5 billion

With a growth of 37%

May 10, 2012

The Board of Directors of Apollo Tyres Ltd today approved the company’s audited financial results for the 4th quarter (January to March) and the financial year 2011-12. The Board recommended a dividend payout of 50%, to be approved by the shareholders at the forthcoming Annual General Meeting, later in the year.

Consolidated annual revenues, across operations in Asia, Africa and Europe, grew 37% to reach Rs 121.5 billion (US$ 2.5 billion or Rs 12,153 crores). Indian Operations’ revenue grew 49% this year as compared to previous year; Europe saw a growth of 27%, while African Operations’ also witnessed a 10% growth, despite challenging local circumstances.


Consolidated Annual Performance Highlights  

FY 2011-12 (April-March) vs FY 2010-11  

  • Net sales surged by 37% to Rs 121.5 billion from Rs 88.7 billion
  • Operating profit grew 18% to reach Rs 12 billion from Rs 10.2 billion
  • Net profit stood at Rs 4.1 billion from Rs 4.4 billion in the previous year

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd, said, “Despite the challenging circumstances, we have crossed yet another milestone of US$ 2.5 billion in the year 2011-12. The conditions in our largest market – India, have not been easy. Same applies for the South African economy. But the positives are many --primarily expansion of our passenger vehicle range and the launch of 3 ultra high performance tyres in Europe. In the critical truck and bus radial segment, we now enjoy a leadership position in India, and are poised for higher growth. The stability in the raw material prices, especially in the 2nd half of the fiscal, has eased some pressure on our margins.” 


Quarter 4 Consolidated Performance Highlights 

Q4 FY 2011-12 (January-March) vs Q4 FY 2010-11 

  • Net sales rose up by 18.4% to Rs 32.3 billion from Rs 27.3 billion
  • Operating profit grew 10.4% to Rs 3.87 billion from Rs 3.5 billion
  • Net profit stood at Rs 1.57 billion from Rs 1.9 billion in the same quarter the previous year

Added Onkar S Kanwar, Chairman, Apollo Tyres Ltd, “We are in a growth and planning mode across our operations, where we are working towards faster market expansion outside India; and are therefore, seeking ways to fulfill this higher demand with additional capacities.” 



Cross Currency Reference Chart for Key Financials:


Rs Billion

Rs Crores

US$ Million

Euro Million

FY 2011-12









Net Sales









Operating Profit









Net Profit












  • On a consolidated level the break-up of revenues across the three geographies are: India 67%, Netherlands 23% and South Africa 10%
  • Apart from existing markets in Germany, the UK, Italy and the Netherlands, Apollo branded tyres are now also being sold in Switzerland, Austria, Denmark and Greece in Europe
  • Exports revenue out of India grew 67%, contributed by Off-Highway tyres and over 30% increase in passenger and commercial vehicle tyres exports
  • On an average, raw material prices went up 23% from Rs 131/kg last fiscal to Rs 161/kg this fiscal
  • After making Dubai its Middle East hub, the company opened its first branded retail outlet outside the country in Dubai; this Apollo Super Zone sells both passenger vehicle and commercial vehicle tyres 
  • The HIV-AIDS programme of Apollo Tyres in India received Special Commendation from the GBC Business Action on Health Awards 2011 under the Community Investment category. The company now has a total of 21 health care centres operational across India
  • Project U initiated in the local community around manufacturing locations in India focusing on skill creation and job placement for local unemployed youth
  • Onkar S Kanwar, Chairman, Apollo Tyres Ltd inducted was into the American Tire Industry Association’s (TIA) Hall of Fame
  • For the 2nd consecutive year, Apollo Amazer 3G Maxx received high ratings for dry and wet performance from ADAC, the German Motoring Association
  • The ultra high performance tyre Apollo Aspire 4G was launched at the 82nd Geneva Motor Show
  • Apollo Vredestein launched 2 new ultra high performance tyres on the Hungaroring F1 circuit in Budapest
  • Apollo Direct, a toll free customer number for passenger vehicle tyres was introduced in India
  • The 1st Apollo Fleet of the Year Awards recognised and shared best practices in the commercial transportation sector
  • Similar to the full-service branded retail outlets for passenger vehicle customers, the company opened 2 Apollo CV Zones in Delhi and Tamil Nadu