It has been a challenging year. There was a big positive reform because of goods and services tax (GST) happening, we had the emission norms changing in commercial vehicles (CVs), so we have had a challenging Q1 and Q2, Neeraj Kanwar, Vice Chairman and MD of Apollo Tyres said.
Although input prices are now inching higher, Apollo Tyres hopes to maintain margin around 18 percent says VC & MD Neeraj Kanwar.
Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres, says the company is targeting a capacity of around Rs 1,20,000 tyres per month in next three to six months.
Neeraj Kanwar, MD of Apollo Tyres, says the company is focussing on 'all-season' tyres, which he expects will aid volumes and boost market share
Speaking to CNBC-TV18, Neeraj Kanwar, VC & MD of Apollo Tyres said that the company is focusing on its marketing initiatives and has upped its spending in branding.
A lot needs to be done in India. Infrastructure is at a halt. There are no projects that we see in the pipeline. So, one is really seeing what is going to happen with the election and the government, Neeraj Kanwar said.
Grant Thornton's Raja Lahiri elaborates on their report on Indian mergers and acquisitions market. Inbound activity took a beating on the back of the economic slowdown, he says.
Neeraj Kanwar of Apollo Tyres told CNBC-TV18 that he expected the deal with Cooper Tire to be completed by October 2013. He said that part of the company's debt would be repaid by cash flows from Apollo India.
The country's larger tyre manufacturer Apollo Tyres is looking to agressively drive into new emerging markets as growth in its core markets of India, Europe and South Africa stagnate.
In an interview with CNBC-TV18, Neeraj Kanwar, Vice Chairman and Managing Director of Apollo Tyres said a better product mix has helped the company's margins. But, depreciation has restricted further margin growth, he added.
Neeraj Kanwar, the managing director of Apollo Tyres told CNBC-TV18 that their margins were impacted due to high raw material and interest costs.
Tyre maker, Apollo Tyres expects to clock better margins in the Q3 quarter than seen earlier. Neeraj Kanwar, vice chairman and managing director of Apollo Tyres in an interview to CNBC-TV18 said that the company will post better profit margins in Q3, but its bottomline and margins are still under pressure.
Apollo Tyres has reported 4% growth in net profit year-on-year of Rs 77.128 crore for the quarter ended June 30, 2011, slightly lower than street expectations.
In an interview with CNBC-TV18, Neeraj Kanwar, MD of Apollo Tyres gave his perspective on the quarter gone by and the road ahead.