Apollo Tyres Ltd Company History

Apollo Tyres Ltd. (ATL) was incorporated 28th September, 1972

as a Public Limited Company and obtained certificate of

Commencement of Business on October 24, 1972. The Company was

promoted by Bharat Steel Tubes, Ltd. Raunaq International Pvt.

Ltd., Raunaq & Co. Pvt. Ltd., Raunaq Singh, Mathew T.

Marattukalam and Jacob Thomas. The Company manufacture

automobile tyres and tubes, camel back/retreading materials and

rubber conveyor belts.

15,00,000 No. of equity shares issued to Bharat Steel Tubes

Ltd., 2,50,000 No. of equity shares to Kerala Govt. and

13,50,000 No. of equity shares to promoters, etc. and associate

companies. 75,000 pref. shares and 46,50,000 No. of equity

shares offered at par to the public in October 1975.

35 Pref. and 13,06,200 No. of equity shares forfeited in

1977-78. During 1978-79 forfeiture on 22,200 No. of equity

shares annulled.

Forfeiture on 2,30,050 No. of equity shares annulled.

After the expiry of the original agreement the Company

negotiated with General Tire International Co., U.S.A., for the

renewal with General Tire International Co., U.S.A., for the

renewal of the technical collaboration agreement for a further

period of 5 years. This agreement expired on January 1987.

Forfeiture annulled on 700 No. of equity shares during 1981-82

and on another 610 No. of equity shares during 1981-83.

6,88,950 forfeited equity shares reissued.

3,63,700 forfeited shares reissued.

`General Tire International Corporation', U.S.A. was taken

over by `Continental Gummi werke GmbH', West Germany.

During the year, the Company acquired interest in Gujarat

Tyres Ltd., for implementing an industrial licence to

manufacture automobile tyres and tubes in Gujarat State.

The Company finalised a proposal for promoting a company in

joint participation for carrying on business in pipe laying,

drilling, coating contracts and other engineering, designing,

consultancy and management services.

6,52,000 No. of equity shares allotted at par to financial

institutions in conversion of loans.

The Company set up a plant with a capacity of 6.75 lakh tyres

per annum at Limda, Baroda, Gujarat at an estimated cost of Rs

168.96 crores.

The Company promoted a new Company under the name of "Raunaq

Aker Drilling, Ltd." in technical collaboration with Aker

Drilling A/s, Norway. The company was to undertake multifarious

onshore and offshore drilling services/related activities in

India.

The Company entered into an agreement with Persterp AB, Sweden

for promotion of joint venture company in the name of "Gujarat

Perstorp Elektronics Ltd." It undertook manufacture of

electronic grade copper clad laminates.

Radial tyres for Maruti cars and premium tyre for trucks were

launched during the year.

During August, the Company offered 42,01,000-12.5% secured

partly convertible debentures of Rs 100 each on Rights basis in

the ratio 1 debenture : 2 Equity shares held. Additional

6,30,150 debentures were allotted to retain over subscription.

The Company also issued 2,10,050 - 12.5% partly convertible

debentures to the employees' (including Indian working

directors) of the Company (only 8,875 debentures were taken up).

The unsubscribed portion of 2,01,175 debentures was allowed to

lapse.

Rs 35 (Part A) of the face value of each debenture was

automatically and compulsorily converted into one equity share

of Rs 10 each at a premium of Rs 25 per share.

Rs 40 (Part B) of the face value of each debenture was

automatically and compulsorily converted into one equity share

of Rs 10 each at a premium of Rs 30 per share at the end of 12

months from the date of allotment of debentures.

The remaining Rs 25 (Part C) of the face value of each

debenture was to be redeemed in two instalments of Rs 10 and Rs

15 at the end of 8th and 9th year respectively from the date of

allotment of debentures.

During September the Company issued through a prospectus

42,59,715 - 12.5% secured partly convertible debentures of Rs

140 each of which the following debentures were reserved and

allowed on a firm basis: (i) 4,30,000 debentures to Commonwealth

Development Corporation (CDC); (ii) 1,00,000 debentures to SBI

Mutual Fund and (iii) 3,57,000 debentures to UTI.

Of the balance 33,72,715 debentures (i) 3,55,000 debentures to

shareholders of the promoter and other companies, viz., BST Mfg.

Ltd., Bharat Gears, Ltd., Apollo Tubes, Ltd., Raunaq

International Ltd., Raunaq & Co. Pvt. Ltd., Universal Steel &

Alloys Ltd and Raunaq Automotive Exports, Ltd. (ii) 2,13,000

debentures to employees of the Company (only 650 debentures were

taken up). The remaining 20,89,715 debentures along with

5,75,000 debentures not taken up under preferential quota were

offered to the public. Additional 6,38,935 debentures were

allotted to retain over subscription (53,550 debentures to UTI;

53,250 to promoters and 5,32,135 debentures to the public).

Rs 35 (Part A) of the face value of each debentures was

automatically and compulsorily converted into one equity shares

of Rs 10 each at a premium of Rs 25 per share at the end of 6

months from the date of allotment of debentures.

Rs 40 (Part B) of the face value of each debentures was

automatically and compulsorily converted into one equity share

of Rs 10 each at a premium of Rs 30 per share at the end of 12

months from the date of allotment of debentures.

Rs 65 (Part C) of the face value of each debenture was to be

redeemed in three instalments of Rs 20, Rs 20 and Rs 25 each at

the end of 7th, 8th & 9th year from the date of allotment of

debentures.

The Company proposed to undertake exports of LVC and farm

tyres in addition to truck tyres.

The Company undertook modernisation, upgradation of technology

installation of line balancing equipments, setting up a state of

are R&D centre, and to be financed by way of a Rights issue of

non convertible debentures with detachable warrants.

Pref. Shares redeemed on 28.12.1990. 194,77,350 No. of equity

shares allotted in part conversion of deb. (prem. Rs 35 per

share for 97,38,675 shares and Rs 40 per share for another

97,38,675 shares).

A number of high technology radial products were developed and

introduced. The Company created distribution network of more

than 2500 dealers in the country.

A new plant for manufacturing tubes and flaps at Ranjangaon

near Pune was commissioned during the year.

The Company entered into an agreement with continental AG,

Germany, for setting up a passenger car radial tyre factory with

and initial production capacity of 4.7 million car radial tyres

per annum and with a capital outlay of Rs 400 crores at Pune.

This is a 50:50 joint venture between Apollo and Continental.

During January, the Company issued 69,69,838-14% secured

non-convertible debentures of Rs 150 each with one detachable

warrant, in the ratio 1 NCD : 4 equity shares held.

Each debenture shall be redeemed in three equal instalments of

Rs 50 each at the end of 6th, 7th & 8th year respectively from

the date of allotment of debentures.

The BIFR vide its order dated April 17, approved the

rehabilitation scheme for revival of Premier Tyres Ltd. (PTL)

envisaging take over of PTL. The scheme involves operation of

Premier plant by Apollo for production of Apollo brands under a

lease arrangement. The Company had become a subsidiary of the

Company.

10,25,667 No. of Equity shares issued against detachable

warrants attached with 14% - NCDs on 31.3.1996. 5,52,492 Rights

Equity shares of Rs 10 each (Premium Rs 90 per share) allotted

on 30.3.96 (Propn. 1:1).

The Company emerged as the largest exporter of tyres

registering a phenomenal 102 per cent increase in exports.

4,17,389 shares issued on conversion of warrants.

The Company issued 12.5% NCD aggregating Rs 20 crores to IDBI

on private placement for a period of 18 months.

1,65,206 No. of equity shares issued on conversion of

detachable warrants.

Apollo Tyres Limited has set up shop in the city opening its

Apollo Tyre World (ATW) through Vora Tyres.

Apollo has been setting up ATW's all over the country equipped

with state-of-the-art testing equipment.

ATL signed a letter of intent with the global major

Continental AG for a 50:50 joint venture for setting up a 4.7

million passenger car radial facility.

The Apollo Tyres management has declared a lock-out at its

Perambra unit, on Dec 6, lightning strike by its workers in the

electrical, electronics, winding shop and instrumentation

sections.

The week-long lock-out declared by the Apollo Tyres management

at its factory at Perambra in Kerala has been lifted and the

factory resumed operations from December 13.

ATL is the first Indian company to have an ISO 9001

accreditation for the entire product range.

ATL has emerged as the fastest growing tyre company in India

(turnover up six-fold in the last five years) and the seventh

fastest in the world.

The strike, by the electrical department workmen, began from

November 30, demanding withdrawal of suspension of an employee.

Apollo Tyres has announced a voluntary retirement scheme (VRS)

for the workers at its Perambra unit in Kerala with a view to

optimise manpower utilisation and costs.

The Perambara unit in Kerala was one of the largest units with

a capacity of 115 tonnes per day and its closure between April

10 to July 18 resulted in a massive production loss.

The company proposes to step up its radial capacity at

Vadodara plant to 57,000 tyres per month, in addition to the

current output of 8,500 radials at Kochi.

Apollo Tyres has desubsidiarised two wholly-owned companies -

Apollo Finance and Apollo International - by diluting its

holding in both to below 51 per cent.

For Apollo Tyres, its Perambara tyre plant has not been doing

too well and acting as a drag on the company's resources. This

is mainly due to the continued labour unrest and lock-outs

leading to heavy production loss at that unit.

Apollo International recently set up a subsidiary firm,

Infonet Worldwide, for providing IT solutions to corporate

clients.

The company is setting up a greenfield project at Ropar in

Punjab to manufacture 100 tonnes a year of agriculture and

off-the-road tyres, that is, mainly tyres for tractors,

earthmovers, etc.

The company has a total installed capacity of 1.5 lakh truck

tyres per month. The two plants in Kerala have a capacity of

70,000 tyres per month, the Baroda plant has a installed

capacity of 55,000 tyres per month and the conversion

arrangement with TCIL contributes another 25,000 tyres per

month.

Premier Tyres Ltd. became a subsidiary of the company.

4,190 No. of equity shares issued on conversion of warrants

and another 30,10,000 No. of equity shares issued on conversion

of part-A of convertible debentures of Rs 92 each.

Apollo Tyres Limited (ATL) has signed an agreement with

national Securities Depository Limited (NSDL) for holding and

trading of shares in demant form.

Apollo Tyres Ltd. has informed the Mumbai Stock Exchange (BSE)

that the management has declared a lock-out at the company's

Penrambra unit in Kochi with effect from 11th July.

No new technical collaboration agreement would be signed

between ATL and Continental to include technology transfer for

truck radials as the existing agreement.

The Company is planning to set up a Rs 300-crore radial tyre

manufacturing unit either in Tamil Nadu or Andhra Pradesh with a

capacity of 100 tonnes per day for radial tyres for trucks and

off-the-road vehicles.

Crisil has reaffirmed the `AA-' rating assigned to the Rs.

104.45-crore non-convertible debenture (NCD) programme of Apollo

Tyres Ltd.

The Company proposes to pump in Rs. 225 crore as equity in its

new wholly-owned subsidiary which will set up a greefield

manufacturing unit.

The Company is setting up a Rs 450-crore plant to manufacture

cross/ply radial tyres.

The Company's plant at Limba was closed for 19 days from 1st

May, to 19th May, on account of an illegal strike by workers.

In a bid to attract the Net-savvy customers, Apollo Tyres has

tied up with indiatimes.com to accentuate brand association with

safe and pleasant journeys.

The Kalamassery unit of Apollo Tyres has won the 26th National

Competition for Young Managers for 2000 organised by the All

India Management Association in New Delhi.

Credit rating agency Crisil has reaffirmed the high safety

rating of `AA-' to the Rs 104.45 crore non-convertible debenture

programme of Apolly Tyres.

Apollo Tyres Ltd. has zeroed in on Tamil Nadu for setting up

its Rs 450-crore greenfield truck radial tyre manufacturing

plant.

Apollo Tyres Ltd has posted a 48.48 per cent decline in net

profit at Rs 3.22 crore for the quarter ended September 30,

2001.

Apollo Tyres Ltd has informed that the appointment of Shri

Raunaq Singh as Managing Director. He will however continue to

be a Director and Non-Executive Chairman of the Board of

Directors, liable to retire by rotation.

Apollo Tyres Ltd has informed that the Board of Directors appointed Mr Onkar S Kanwar as the Chairman of the Board of Directors. The Board also appointed Mr D Sengupta former Chairman of GIC as an Additional Director of the Company.

Apollo Tyres Ltd has informed the Exchange that Mr. Raaja R S Kanwar has been appointed as Director, liable to retire by rotation in the vacancy caused by the retirementof Mr. Raunaq Singh, Non-Executive Director and Chairman of the Board.

Technical & Financial Collaboration with Michelin Group.

Compagnie Financiere Michelin, Switzerland, acquire 57,12,500 shares amounting to 14.90% of the total paid up capital of Apollo Tyres Ltd.

Michelin Apollo Tyres Pvt Ltd (MATL), a 51:49 joint venture between Michelin Group and Apollo Tyres Ltd (ATL), has announced the launch of a range of truck and bus radials for the Indian market.

Apollo Tyres Ltd on August 9, 2004, announced the opening of Apollo Pragati Kendras , exclusive outlets for selling the entire range of its farm tyres to the agricultural community

Apollo Tyres introduces new range of tubeless car radials on october 27, 2004.

The first tyre-manufacturing unit of the Apollo Tyres Ltd (ATL) at Perambra in Thrissur district celebrates its 30 years of successful operations on 17th April 2005.

Apollo Tyres Ltd has entered into a distribution tie-up with Triveni Khushali Bazaar - specialised farm goods supermarkets being promoted by Triveni Engineering & Industries Ltd - for retailing its farm tyres.

Apollo Tyres rolls out DuraTreads

Apollo Tyres executes MOU with Tamilnadu Government for setting up Tyre Manufacturing Facility

Apollo Tyres to acquire Dunlop South Africa for Rs 290cr

The Company has splits its face value from Rs10/- to Rs1/-.

Apollo diversifies into transport and logistics

Apollo Tyres establishing plant in Hungary

Apollo Tyres - Acquisition of 100% shareholding control of Vredestein Banden B.V., Netherlands

Apollo to launch Vredestein tyres in India.

Apollo Tyres has introduced 6 new products in the European market.

Apollo Tyres South Africa (Pty.) Ltd. (ATSA), a wholly-owned-subsidiary of Apollo Tyres Ltd

Tamil Nadu government and the tyre manufacturer Apollo has signed a MoU relating to investment of Rs 2,100 crore as part of Apollo’s Greenfield project.

Apollo Tyres likely to acquire stake in Cooper Tire & Rubber Company.

Apollo Tyres announces three year partnership with Manchester United.

Apollo Tyres To Acquire Cooper Tire & Rubber Company Combination Creates World’s Seventh-Largest Tyre Company.

Apollo Tyres confirms Hungary as the location for its first Greenfield facility outside India.

Apollo Tyres inaugurated two butterfly gardens within the premises of its two manufacturing facilities in Kerala.

Apollo Tyres launches its recruitment drive in Hungary

Apollo Tyres’ 25th Health Care Centre inaugurated in Nagpur

Apollo Tyres awarded at the Asian CSR Awards 2015

First Apollo Zone inaugurated in Lebanon

"Apollo Tyres forays into the two-wheeler tyre segment".

Apollo Tyres setting up greenfield plant in Hungary.

"Apollo Tyres signs MoU with Govt of Andhra Pradesh; to invest Rs 525 crore in the state"

Apollo Tyres inaugurates second Global R&D Centre near Chennai.

Apollo Tyres signs MoU with AP Govt.

Apollo Tyres ties up with Crystal Palace Football Club.

Apollo Tyres awarded with 'Business Partner of the Year'.

Apollo Tyres introduces three new products.

Apollo Tyres Global R&D Centre, Asia awarded.

Apollo Tyres starts producing Apollo branded truck tyres at Hungarian plant.

Apollo truck tyres were first introduced in Belgium last year, the country was the obvious choice to start the delivery from the company's Hungarian plant.

Apollo Tyres started supplying Apollo brand of truck tyres in Europe in 2017.

Apollo Tyres will invest around Rs 1,800 crore on a new plant in Andhra Pradesh.

Apollo Tyres collaborates with Ashok Leyland.

Apollo Tyres enters Saudi Arabia; ties-up with Al-Jomaih Tyres.

Apollo Tyres partners GARC for first tyre test track in India.

Apollo Tyres new campaign with river Ganga, Sachin Tendulkar and A R Rahman.

E-commerce portal for PV and 2W tyre customers launched.

Apollo Tyres renews association with Chennaiyin FC as their Principal Sponsor.

Apollo Tyres renews association with Chennaiyin FC as their Principal Sponsor.

Apollo Vredestein launches full product offensive in NA.

Apollo Tyres aligns with GPSNR policy framework.

Apollo Tyres brings in premium tyre brand Vredestein to India.

Apollo Tyres’ CV Zones gets TUV – IRF certification.

Apollo inaugurates a specialised Service Centre for tyres.

Apollo Tyres joins ‘Jan Andolan’ for TB-free India.