After enduring a challenging year in FY25, Apollo Tyres is looking forward with optimism to the opportunities as it sharpens execution and investment in future-ready capabilities, according to company Chairman Onkar Kanwar.
In his address to shareholders in the company's annual report for 2024-25, Kanwar said the company has already put in motion key initiatives to drive performance, including expanding passenger car radial (PCR) capacities at its Hungary and Andhra Pradesh plants, with an estimated capex of Rs 1,500 crore.
Reflecting on FY25, he said, the company's commitment to the core principles of "profitable growth, market expansion and a relentless focus on cost and quality" remained constant.
"FY25 was undeniably a challenging year for the company. As a team, we did not meet our expectations and underperformed versus our expectations in both India and Europe," he said.
Despite this, he said, "We remained true to our philosophy of prioritising sustainable and profitable growth, not growth at any cost. We closed the year with consolidated revenue from operations of Rs 26,123 crore, compared to Rs 25,378 crore in FY24, reflecting a 3 per cent growth. Net profit stood at Rs 1,121 crore, against Rs 1,722 crore in the previous fiscal".
On the road ahead, Kanwar said, "We remain optimistic about the opportunities that lie before us. As we sharpen our execution and invest in future-ready capabilities, we are confident in steering the company toward achieving our vision." Stating that key initiatives are already in motion to drive performance, he said, "Among these, we have announced the expansion of our passenger car radial (PCR) capacities at our Hungary and Andhra Pradesh plants, with an estimated capex of Rs 1,500 crore." He asserted that the company will continue to build on its core strengths while embracing new ideas that will shape the future of mobility.
In his address, Apollo Tyre Vice Chairman & Managing Director Neeraj Kanwar said the company's "focus remains unwavering on driving sustainable, profitable growth while keeping a sharp eye on market developments and operational efficiencies".
"We are approaching the year ahead with discipline and cautious optimism. We are working with diligence and clarity to stay future-ready, investing in our people, processes and capabilities to navigate volatility and capture long-term opportunities," Neeraj Kanwar noted.
