Apollo Tyers

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COMPANY PROFILE

Apollo Tyres, Ltd.

REFERENCE CODE: E16AA60E-380B-49C8-9C23-BFC7C2AB3058 PUBLICATION DATE: 6 Apr 2012 www.marketline.comCOPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED.

Apollo Tyres, Ltd.TABLE OF CONTENTS

TABLE OF CONTENTSCompany Overview..............................................................................................3 Key Facts...............................................................................................................3 Business Description...........................................................................................4 History...................................................................................................................5 Key Employees.....................................................................................................7 Key Employee Biographies..................................................................................8 Major Products and Services............................................................................12 Revenue Analysis...............................................................................................13 SWOT Analysis...................................................................................................14 Top Competitors.................................................................................................20 Company View.....................................................................................................21 Locations and Subsidiaries...............................................................................23

Apollo Tyres, Ltd. MarketLine

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Apollo Tyres, Ltd.Company Overview

COMPANY OVERVIEWApollo Tyres Limited (Apollo or the company) manufactures and markets tyres, tubes and flaps. The company provides tyres for trucks and buses, light trucks, passenger cars, jeeps, and farm vehicles. The company primarily operates in India, South Africa Netherlands and Zimbabwe. It is headquartered in Gurgaon, India, and employs around 16,000 people. The company recorded revenues of INR88,677.2* million ($1,933.2 million) in the financial year ended March 2011 (FY2011), an increase of 9.2% over FY2010. The operating profit of the company was INR2,323.4** million ($50.6 million) in FY2011, a decrease of 74.8% compared to FY2010. The net profit was INR4,401.6 million ($96 million) in FY2011, a decrease of 32.6% compared to FY2010. * Revenues excludes other non operating incomes. ** Operating income is calculated by subtracting only the operating expenses including manufacturing and other expenses and depreciation.

KEY FACTSHead Office Apollo Tyres, Ltd. 7 Institutional Area Sector 32 Gurgaon 122001 Haryana IND 91 124 272 1000

Phone Fax Web Address

http://www.apollotyres.com

Revenue / turnover 88,677.2 (INR Mn) Financial Year End Employees Bombay Stock Exchange Ticker National Stock Exchange of India Ticker March 16,000 500877 APOLLOTYRE

Apollo Tyres, Ltd. MarketLine

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Apollo Tyres, Ltd.Business Description

BUSINESS DESCRIPTIONApollo Tyres Limited (Apollo or the company) is one of the leading tyre manufacturers in India. The company currently produces the entire range of automotive tyres for passenger cars, truck and bus, bicycle, farm and off-the-road vehicles. The company also produces tyres for industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo's nine manufacturing locations in India, the Netherlands, Southern Africa and Zimbabwe. The company produces more than 1,939 kinds of tyres under the brand names: Apollo, Dunlop, Maloya, Regal, Vredestein, Kaizen, DuraTyres and DuraTread. It has a network of over 900 dealerships across Africa and South America, of which 200 are Dunlop accredited dealers. The company operates its business under one business segment: automobile tyres, automobile tubes and automobile flaps. Apollo's largest unit is in Limda, in the western Indian state of Gujarat. Two other units are located in the southern Indian rubber-producing state of Kerala, and a latest plant commissioned near Chennai, Tamil Nadu. These four units together have a combined production of around 1,200 tonnes a day. In South Africa, the Ladysmith and Durban plants account for a combined capacity of around 180 tonnes, and the Enschede plant in the Netherlands adds another 150 tonnes a day. The total production capacity of the company is around 1,550 metric tonnes a day. In FY2011, the company produced 438,524 metric tonnes of tyres. In the three domestic markets of India, Southern Africa and Europe, Apollo operates through a network of branded, exclusive or multi-product outlets. In South Africa, the company operates 'Dunlop Zones' branded outlets, while in India its outlets include: Apollo Tyre World (for commercial vehicles) and Apollo Radial World (for passenger cars). Exports out of these three key manufacturing locations reach over 70 destinations across the world, including Europe, Africa, the Middle East and South-East Asia.

Apollo Tyres, Ltd. MarketLine

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Apollo Tyres, Ltd.History

HISTORYApollo Tyres Limited (Apollo or the company) was incorporated in 1975. In the same year, it was listed on the Bombay Stock Exchange. After two years, Apollo started first plant in Perambra in Cochin, Kerala. The company began manufacturing passenger car radial tyres in Kerala, in 1982. In 1991, Apollo established its Baroda plant in India. The company acquired Premier Tyres located in Kerala, India, in 1995. In the following year, the company's exclusive tubes plant was commissioned in Pune, Maharashtra. Apollo established Apollo Tyres Health Care Clinic for HIV-AIDS awareness and prevention in Delhi, in 2000. Five years later, the company proposed an INR1,700 million ($35.9 million) expansion and modernization program at its Limda plant near Baroda. The company acquired Dunlop Tyres International (Proprietary) (now renamed as Apollo Tyres South Africa) located in South Africa, in 2006. In the following year, the company launched Regal truck and bus radial tyres. In the same year, the company began production of DuraTyre. In 2008, the company started the "off-the-road" tyre production facility at its manufacturing unit in Limda. In the same year, Apollo opened its first full-service branded commercial vehicle tyre outlet in Salem, Tamil Nadu. In the following year, the company acquired 100% stake in the European tyre manufacturer, Vredestein Banden (VBBV), based out of the Netherlands. In 2010, the company won an agreement with Volkswagen to supply the VW Polo assembled in India with Apollo tyres as original equipment. In the same year, brand Apollo was launched in Europe. In addition, Apollo entered into a joint venture with the Rahimafrooz Group to market its commercial vehicle tyres in Bangladesh. This marked the company's entry into the Bangladesh market. Apollo signed a MoU with the Tamil Nadu government to invest INR21,000 million ($443.3 million) as part of its Greenfield project, in January 2011. In the following month, Apollo entered into a partnership with Kwik-Fit to sell the Apollo brand of tyres through their 180 Kwik-Fit car service centers across Netherlands. In the same month, the company inaugurated its global tyre manufacturing unit in Chennai, Tamil Nadu, making it the fourth manufacturing unit in India. In June 2011, Apollo announced its plans for the Middle East market to be its export hub. The region will be catered to by exports out of India, with Dubai as the hub of operations. In the same month, the company entered the Sri Lanka market through a tie-up with Ideal Motors, the automobile distribution and marketing arm of the Ideal Group of Companies. Apollo acquired 10,000 hectare on lease in Laos for planting rubber in August 2011. It will take about seven years for the company to get the yield from rubber trees.

Apollo Tyres, Ltd. MarketLine

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Apollo Tyres, Ltd.History

In March 2012, Apollo the company planned to invest around E400 million ($529.2 million) to set up two new facilities in East Europe and Brazil in the next 3-4 years as it aims to expand its global footprint. In the same month, the company planned to build a tyre plant in Eastern Europe with an investment of $135 million. In April 2012, Apollo planned to open a specialized concept store in Dubai in order to provide buyers with an enhanced customer experience and a better feel for the brand.

Apollo Tyres, Ltd. MarketLine

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Apollo Tyres, Ltd.Key Employees

KEY EMPLOYEESNameOnkar S. Kanwar Neeraj Kanwar Sunam Sarkar U. S. Oberoi P N Wahal V P Joy Nimesh N. Kampani S. Narayan M. R. B. Punja Arun Kumar Purwar Alkesh Kumar Sharma Shardul S Shroff Robert Steinmetz K. Jacob Thomas Rob Oudshoorn Luis C. Ceneviz Satish Sharma Satish Agarwal Peter Becker S Asoka Iyer Tapan Mitra P. K. Mohammed K Prabhakar Gaurav Kumar Kaushik Roy

Job TitleChairman and Managing Director Vice Chairman and Managing Director Chief Financial Officer Chief, Corporate Affairs Company Secretary Director Director Director Director Director Director Director Director Director Chief Executive Officer, Apollo Vredestein

BoardExecutive Board Executive Board Executive Board Executive Board Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Senior Management

Compensation140740000 INR 76310000 INR 18980000 INR 10690000 INR

Chief Executive Officer, Apollo Tyres Senior Management South Africa Chief, India Operations Chief, Manufacturing Chief, Research and Development Chief, Group