Apollo Tyres is open to the possibility of buying rubber plantations as the rising commodity prices have been eroding the profit margins of the company. It is always open for any kind of backward integration depending upon the need of the hour to fight surging rubber prices, a key raw material for tyre.
The company is also reviewing contracts with suppliers to correct rubber prices, and also maintaining a leaner and efficient inventory and working towards greater production efficiency to deal with higher prices of rubber.
The company’s net profit for the fourth quarter has plummeted by 43.03% at Rs 66.19 crore as compared to Rs 116.18 crore for the corresponding quarter previous year. Its total income has increased by 34.59% at Rs 1778.68 crore for the quarter under review from Rs 1321.59 crore in the corresponding previous quarter.
The company has registered a fall of 52.23% in its net profit for the year under review at Rs 198.25 crore as compared to Rs 414.99 crore for the last year. Its total income has increased by 9.30% at Rs 5517.18 crore for the year from Rs 5047.74 crore in previous year.
| Company Name | CMP |
|---|---|
| MRF | 139772.66 |
| Apollo Tyres | 445.30 |
| CEAT | 3713.55 |
| Balkrishna Inds. | 2329.80 |
| JK Tyres & Inds. | 428.30 |
| View more.. | |
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