Apollo Tyres Limited has informed the Exchange about Information related to wholly owned Subsidiary Company Intended Decision to discontinue tyre production and production related operations at Enschede.
APOLLOTYRE · price
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On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and in line with its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Apollo Tyres has informed exchanges that its Netherlands-based wholly owned subsidiary, Apollo Tyres (NL) B.V., plans to stop tyre production at its Enschede plant by summer 2026 due to high production costs. The subsidiary has formally initiated the consultation process by submitting a Request for Advice to the ATNL Works Council, as required under Dutch law. The final decision still needs approval from the ATNL Supervisory Board. The Enschede plant contributed about 5.8% of consolidated revenue (₹14,636 million) and 8.4% of consolidated net worth (₹11,667 million) as of March 31, 2024.
This is a strategic move to exit a high-cost European manufacturing base, which could improve overall profitability margins in the long run. However, investors should watch for one-time restructuring charges, potential write-downs, and the redeployment of capital that may follow the closure.