Moneycontrol
Last Updated : Jan 23, 2018 08:09 PM IST | Source: CNBC-TV18

Davos 2018: Apollo Tyres to focus on Hungary; FY19 to be year of consolidation

FY19 will be a year of consolidation for them, trying to get Hungary to full scale production, and getting profits, said Neeraj Kanwar, Vice Chairman & MD, Apollo Tyres.

CNBC TV18 @moneycontrolcom

Checking on the corporate mood from the sidelines of the Word Economic Forum in Davos, CNBC-TV18 spoke to Neeraj Kanwar, Vice Chairman & MD, Apollo Tyres.

Kanwar said the third quarter was good for the company on back of reforms and that they were least impacted by GST.

Q3 saw double-digit growth for India business, Europe too was good, said Kanwar.

Raw material prices are a concern and could impact margins further. However, higher volumes and market share could provide some support to margins, he added.

FY19 will be a year of consolidation for them, trying to get Hungary to full scale production, and getting profits, he said.

With regards to imports, he said Chinese imports have halved since anti-dumping duties.
First Published on Jan 23, 2018 07:32 pm
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