14 April 2012

Apollo Tyres: Structural tailwinds - Part 2 :: Kotak Securities PDF link


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http://www.kotaksecurities.com/pdf/indiadaily/indiadaily09042012.pdf

Apollo Tyres: Structural tailwinds - Part 2
` Benefits of rising non-truck revenues - reduced working capital; higher
profitability
` Non-truck tire (car tires specifically) business is the future of the industry;
truck tire is the past
` Companies need to improve product quality to gain from the trend; losers
will be marginalized

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