Apollo Tyres Earmarks A Capex Of Rs 3,200 Crore For FY 17

It seems that the Gurugram-headquartered tyre manufacturer Apollo Tyres is all set to conquer things in a big way, and this time it’s not only restricted to the domestic market but also aim to triumph over the global arena. And this will be made possible by the capex of INR 3200 crore, which the tyre major has earmarked for the 2017 financial year.

Out of the total Apollo Tyres capex, for its domestic operations it has lined up a capex of INR 1700 crore, while over INR 1510 crore (about 200 million Euro) has been kept aside for its European operations in the ongoing fiscal.
Chief Financial Officer (CFO) of Apollo Tyres, Mr. Gaurav Kumar confirmed in a statement that in India the company will have a capex of INR 17 billion approx and of 200 million Euros in Europe in the current financial year 2017. While speaking about the capex he didn’t disclose any specific area where the tyre firm would like to invest in the present fiscal.

However, some reliable company sources cleared the air about the investment and claimed that the principal chunk of the investment would go into Apollo Tyres’ Chennai based tyre facility and the remaining portion will aid its upcoming manufacturing base in Hungary.

The company is looking to double its current Truck and Bus Radial (TBR) tyre capacity to 12000 tyres per day from the existing 6000 tyres per day at its Chennai plant.

Author: Ankit verma

My need for speed began at a very early age and I realised this as soon as I got my first bicycle at the age of 8. When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I’m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life. Read more