Apollo Tyres began in 1972 as an Indian tyre maker and transformed into a global player by acquiring Vredestein, a century-old Dutch premium brand, creating a dual-brand house that spans mass-market to luxury segments. The company’s recurring approach is to pair a dominant Indian franchise with a premium European brand, then sharpen competitiveness by optimising its manufacturing footprint - most recently closing a high-cost legacy plant in the Netherlands while expanding capacity in India. It now serves over 100 countries, operates six plants, and produced roughly 732,000 metric tonnes of tyres in its latest fiscal year. # Business segments Three engines at different stages - a dominant Indian tyre franchise, a premium European brand built on a century of heritage, and a small but growing presence in other markets - all fed by a shared manufacturing and R&D backbone. ## 1. India business: the group’s volume and profit anchor **Apollo is the leader in Indian commercial-vehicle tyres and the top choice for car and SUV makers, selling through roughly 7,200 dealers and every major automaker in the country.** - **The replacement market is the bedrock** - about 63% of standalone India revenue comes from tyres sold to fleet operators and vehicle owners replacing worn rubber, a steadier and more profitable channel than selling to automakers. The company held the number-one position in passenger-car replacement tyres for four straight years through FY24. - **OEM fitments lock in future replacement demand** - Apollo is the first-choice tyre supplier for all of India’s top ten car and SUV brands, including Maruti Suzuki, Tata Motors, Mahindra, Kia, and Toyota, and has secured premium wins with BMW, MINI, and Genesis. Every new car sold with Apollo tyres is a replacement customer down the road. - **A product for every wheel** - the portfolio runs from the Amazer 4G Life, the largest-selling passenger-car replacement tyre, to the EnduMile LHT long-haul truck tyre rated A for rolling resistance (the most fuel-efficient truck tyre Apollo makes), to the Amperion range, among India’s first exclusive EV tyre lines and already fitted as original equipment. In two-wheelers, the Alpha series is India’s first ‘zero degree’ steel-belted motorcycle radial, fitted on premium bikes like the KTM Duke 390. - **Distribution reaches where competitors don’t** - beyond 7,200 dealers and 143 sales offices, the company has built a rural network under the ‘Apollo Tyre Sarpanth’ initiative, setting up more than 550 stores in the first year, and operates branded retail formats like Apollo CV Zone and Apollo Farm Zone for trucks and tractors. - **Manufacturing is being expanded, not just maintained** - the five Indian plants ran at 85% utilisation in FY26, and a major expansion at the Andhra Pradesh site will add roughly 3.7 million passenger-car tyre and 1.3 million truck-bus radial tyre capacity by the end of FY29, funded through internal cash and debt. ## 2. Europe business: the premium brand with a century of proof **Vredestein sells ultra-high-performance, all-season, and winter tyres into the richest segments of the European market, where independent test wins and a growing EV-specific range justify premium pricing.** - **The mix keeps moving up** - the share of ultra-high-performance tyres in European sales (excluding the ReifenCom distribution business) improved to 50% in the latest quarter, compared to 48% in the same quarter last year, meaning every second tyre sold is a higher-margin, larger-rim-size product. - **Test wins are the brand’s currency** - German magazine Auto Bild named Vredestein “All-Season Manufacturer of the Year,” and Applus+ IDIADA confirmed the Ultrac Pro’s standout performance in the ultra-ultra-high-performance segment, giving dealers and consumers independent reasons to choose Vredestein over larger rivals. - **EV tyres were a first-mover bet** - dedicated tyre product lines for EV have been developed for Apollo Tyres reference markets, and the company is running development programmes with premium automakers for next-generation EV platforms. - **OEM approvals open doors** - BMW Group selected Vredestein tyres for the all-new MINI Cooper and multiple BMW series; Volkswagen Commercial Vehicles and Audi previously chose Vredestein tyres for the new Caddy and A1 Sportback, respectively. These fitments signal quality and create replacement demand when those vehicles need new tyres. - **The plant footprint was deliberately sharpened** - the high-cost Enschede plant in the Netherlands is on track for closure, concentrating European manufacturing at the highly automated Hungarian facility, which ran at 93% utilisation and scaled up passenger-car tyre output while discontinuing truck-tyre production. ## 3. Other markets: seeding the brands beyond home turf **Apollo and Vredestein are being selectively placed in North America, the Middle East, and APMEA, with the premium brand leading in the US and the mass-premium brand expanding its footprint in emerging regions.** - **North America rides on Vredestein** - the brand is positioned in all-weather and larger-rim-size segments, supported by a “Demand a Better Tire” campaign and a dealer network that added over 250 associate dealers during FY26. - **The Apollo brand travels too** - in Europe, 73 new sizes were added across all-season, winter, and summer categories in FY25, and in North America the Apollo CV commercial-vehicle brand has been launched, extending the Indian franchise into new geographies. - **India’s premium import** - Vredestein was launched in India during FY22 for passenger and two-wheeler tyres, with fitments on the Triumph Speed 400 and BMW 5 Series LWB, giving Indian buyers access to the same premium rubber sold in Europe. # Digital, technology and R&D capability **A shared engine of two global R&D centres, over 200 patents, and an in-house AI platform that cuts energy costs and improves factory output - built once, used everywhere.** - **Two R&D hubs, one OEM-facing outpost** - teams in India and the Netherlands, staffed by \~425 scientists, develop tyres for both brands, while a dedicated centre in Germany works directly with European automakers on new-vehicle programmes. - **AI runs on the factory floor** - an in-house cloud-based manufacturing system gives real-time visibility across plants, and machine-learning models deployed across factories cut energy consumption by 2-3%, saving 365 tonnes of CO₂ per month. Over 750 data points stream from major production machines to a single global data lake exceeding 10 terabytes. - **Product technology that differentiates** - the company has demonstrated tyres made with 75% sustainable materials that meet regulatory performance standards, developed RFID tags for tyre identification, and built TPMS (Tyre Pressure Monitoring System) technology for connected fleet services. - **Sales and supply chain run on data** - AI-powered forecasting improved product availability from 83% to 87% while reducing inventory, and a B2B e-commerce platform has been rolled out in India, with the rollout of a new European platform started in the latest quarter. # Group structure and partners **A listed Indian parent with 31 overseas subsidiaries held through a Dutch cooperative, backed by an 18% stake from Warburg Pincus and supported by captive renewable-energy investments.** - **The European holding structure** - all overseas operations sit under Apollo Tyres Cooperatief U.A. in the Netherlands, which controls the Hungarian manufacturing subsidiary, the now-closed Dutch plant entity, and the ReifenCom distribution business operating 37 stores across six countries in Germany. - **Captive green power** - the company holds stakes in three renewable-energy entities: a 27.2% stake in a solar company supplying 40 million units of electricity annually to the Chennai plant, and interests in two wind-power projects in Tamil Nadu aggregating up to 47 MW. - **A long-term private-equity partner** - affiliates of Warburg Pincus hold approximately 18% ownership following a 2020 preferential allotment and subsequent conversion, giving the company a stable institutional shareholder alongside its public listing on both NSE and BSE.