Apollo Tyres to cut capex by Rs 400 crore in FY21 to preserve cash flow
7th Jul 2020

Apollo Tyres has decided to cut its capital expenditure (capex) by Rs 400 crore in the current financial year (FY21) amid challenging business environment due to the coronavirus pandemic. The company had earlier earmarked a capex of around Rs 1,400-1,500 crore for the domestic operations for FY21. It has also taken a cut in the capex investment across its European operations. With uncertain scenario due to rising COVID-19 cases, the company has taken various steps to control cost as much as possible.

Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.