APOLLO TYRES Share price

Apollo Tyres Ltd. (ATL) was incorporated by Shri Mathew T. Marattukalam Shri Jacob Thomas and his associates on September 28 1972 as a Public Limited Company and obtained certificate of Commencement of Business on October 24 1972. Subsequently in 1974 consequent to change in management the implementation of the tyre project was undertaken by Shri Raunaq Singh and his associates. The Company commenced commercial production of Automotive Tyres and Tubes in 1977 with an installed capacity of 4.20 Lakh Nos. each of tyres and tubes per annum at its plant at Perambara in Kerala. Through periodic expansion the Installed capacity of the Plant has been increased to 6.67 Lakhs no. of tyres per annum. ATL has another plant at village Limda Taluka Waghodia Distt. Baroda in Gujarat which was set up in 1990 to manufacture Automotive Tyres with an installed capacity of 6.75 Lakhs nos per annum. Company''s plants both at Cochin and Baroda achieved 100% Capacity Utilisation for the year ended 31st March 1994.The Company manufactures and sells a range of tyres (both Bias and Radial) and tubes. The major portion of company''s production comprises of Truck and Bus tyres Tractor and Trailer tyres and Passenger Car Radial and Cross Ply tyres.Besides these the Company also produces LCV tyres Animal Driven Vehicle (ADV) tyres etc. The Company has since developed high quality tyres and tubes for two and three wheelers and has commenced effective marketing of these new products (e.g. Black Cat etc.)The Company today ranks amongst the largest Automotive Tyres and Tubes Manufacturing Companies in the country in terms of volume of production and market share (Source : ATMA).The Company has an established track record of growth in its turnover and profits. In a decade the Company''s turnover has increased from Rs.58 crores in 1983-84 to Rs.687.56 crores in 1993-94 and its profit after tax has grown from Rs.0.57 crores in 1983-84 to Rs.15.62 Crores in 1993-94. The Company''s exports have also gone up substantially from Rs.13.34 crores in 1991-92 to Rs.61.89 crores in 1992-93 and to Rs.77.55 crores in 1993-94. Based on provisional figures compiled by TMA for the industry the Company''s share in the total exports would amount to appx. 13%.The Company''s paid-up capital as on 31.10.1988 was Rs.840.20 Lakhs. In 1989 the Company made a Public Issue of 4259715 - 12.5% Secured Partly Convertible Debentures of Rs.140/- each for cash at par aggregating Rs.5963.60 Lakhs. Simultaneously the Company also made a Rights Issue of 4411050 - 12.5% Secured Partly Convertible Debentures of Rs.100/- each for cash at par aggregating Rs.4411.05 lakhs.As on March 31 1994 the Paid-up Capital of the Company was Rs.2786.68 Lakhs and its Reserves & Surplus stood at Rs.14095.13 Lakhs. The Company has been paying dividend regularly since 1987-88.