Latest news with #ApolloTyres'
Mint
19-07-2025
- Business
- Mint
How tyre baron Raunaq Singh lost his empire—but cemented his legacy
Next Story Sundeep Khanna Apollo Tyres' founder rose from the ruins of Partition to build an industrial empire—but a family feud would later push him out of the company he created. Raunaq Singh, founder of the Apollo Group of companies. (Illustration: Mint) Gift this article The partition of India in 1947 upended millions of lives on both sides of the newly drawn border. Yet, amid the devastation, it gave rise to a generation of Indian entrepreneurs whose stories stand as enduring testaments to human resilience and grit. They embodied the very spirit of 'rugged individualism" that Ralph Waldo Emerson once celebrated. The partition of India in 1947 upended millions of lives on both sides of the newly drawn border. Yet, amid the devastation, it gave rise to a generation of Indian entrepreneurs whose stories stand as enduring testaments to human resilience and grit. They embodied the very spirit of 'rugged individualism" that Ralph Waldo Emerson once celebrated. Among them were Brijmohan Lall Munjal, the visionary behind Hero Group; Karam Chand Thapar, founder of the eponymous conglomerate; Gujarmal Modi, who built the Modi Group; Dharampal Gulati, the Spice King who turned MDH into a global brand; and Kundan Lal Gujral, the man behind Delhi's iconic Moti Mahal restaurant. Displaced and dispossessed by Partition, they rose from adversity to help build the industrial foundation of a newly independent India. One such figure was Raunaq Singh, founder of the Apollo Group of companies. While his later years were marred by a bruising public feud with his son, Onkar Singh Kanwar, Singh's legacy remains that of a towering industrialist who helped shape post-independence Indian enterprise. Born in 1922 in Daska (now in Pakistan), Singh came from a modest, middle-class background. He began his career selling second-hand steel pipes in Lahore. After Partition, as a refugee in Delhi, he started over—working for a steel merchant in Gole Market, earning just one paisa a day, and living in a cramped one-room accommodation. A turning point came in November 1947, when Singh sold his wife's jewellery for ₹ 8,000 and moved to Kolkata to set up a spice trading business. The venture took off, and he could have settled into a comfortable life. But Singh had bigger ambitions, and so did destiny. Fate intervened on a train journey when he struck up a conversation with the chief executive of a German steel tube company. Impressed by Singh's drive, the executive offered to fund a steel tube plant in Kolkata, with repayment contingent on its success. That improbable deal gave birth to Bharat Steel Pipes, which quickly became a leading player, supplying not just the Indian market but also exporting to Europe and the US. Singh wasn't done. In 1976, he founded Apollo Tyres, which would go on to become the group's flagship. At the time, India's tyre market was dominated by players like MRF, CEAT, and multinationals such as Dunlop and Goodyear. Singh made a shrewd bet: focusing on the underserved truck and bus tyre segment. Apollo targeted transporters—cost-conscious but quality-driven buyers—offering durable tyres and reliable after-sales service. He also built a strong dealer and distribution network in northern and central India, regions where MRF and CEAT had little presence. Growth was hard-fought, but Singh's aggressive push paid off. Strategic acquisitions fuelled expansion—first Premier Tyres in 1995, and then Dunlop's Africa operations in 1996, marking Apollo's entry into international markets. But Singh's later years were dominated by a bitter feud with his elder son, Onkar. The flashpoint was a disagreement over diversification: Onkar argued—presciently—that the age of sprawling, unrelated expansions was over, and Apollo needed sharper focus. Singh and his brother, Narinder Jeet Singh, accused Onkar of misusing company funds to tighten his grip on Apollo Tyres. The drama deepened with the entry of stockbroker Harshad Mehta, who had quietly amassed a large chunk of Apollo shares. After Mehta's arrest, these were frozen by a court-appointed custodian. Onkar warned of a potential 'backdoor takeover" if those shares were sold. Apollo Tyres appealed to the Supreme Court to block any sale, calling them 'tainted shares" that had been illegally acquired. Also Read | Why no one blows the whistle until a short-seller turns up After years of boardroom conflict, Raunaq Singh was ousted in 2002 by the very son he had once chosen as successor. To Onkar Kanwar's credit, he proved a worthy heir. Under his leadership, Apollo Tyres expanded aggressively, becoming a global player with a market cap of $3.4 billion. Raunaq Singh died in September 2002, just days after stepping down as chairman of Apollo Tyres. Despite the stormy final chapter, he had more than earned his place among the pioneers who helped lay the industrial bedrock of post-independence India. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Business Standard
11-07-2025
- Business
- Business Standard
Apollo Tyres shares down 3% as stock turns ex-dividend; Details here
Apollo Tyres share price slipped 3.1 per cent in trade on Friday on BSE, logging an intraday low at ₹457.5 per share on its ex-dividend date. The ex-dividend date is the cutoff date set by a company to determine which shareholders are eligible to receive the upcoming dividend. At 10:58 AM, Apollo Tyres shares were trading lower by 2.93 per cent at ₹458.35 per share on the BSE. In comparison, the BSE Sensex was down 0.66 per cent at 82,641.59. The company's market capitalisation stood at ₹29,109.85 crore. The 52-week high of the stock was at ₹584.65 per share and the 52-week low of the stock was at ₹368 per share. Apollo Tyre dividend details The board recommended the dividend of ₹5 per share (i.e. 500 per cent) on face value of ₹1 each for FY25, subject to the approval of the Shareholders at the ensuing Annual General Meeting (AGM) of the company. The company declared ₹5 per share final dividend after posting Q4FY25 numbers. In Q4, Apollo Tyres' net profit stood at ₹184.618 crore, registering a 47.8 per cent decline from Q4FY24 PAT of ₹354.08 crore. The tyre manufacturer also reported total income of ₹6,451.12 crore in the fourth quarter, up 1.8 per cent year-on-year (Y-o-Y). The company had reported ₹6,332.52 crore as the total income during the corresponding quarter of the previous financial year. The company's total expenses increased by 5.9 per cent to ₹6,072.67 crore, as it had reported ₹6,072.67 crore as total expenses in Q4 FY25. For FY25, the company's profit after tax has declined by 34.8 per cent to ₹1,121.32 crore, down from ₹1,721.86 crore for FY24. The company's total income for FY25 stood at ₹26,211.51 crore, registering a YoY growth of 2.5 per cent, up from ₹25,531.28 crore in FY24. The company reported an operating margin (EBITDA) of 13.04 per cent for the fourth quarter of FY25, a decline from 16.43 per cent recorded in the corresponding quarter of the previous fiscal year (Q4 FY24). For the financial year 2024–25 (FY25), the company reported an operating margin (Ebitda) of 13.67 per cent, down from 17.52 per cent in FY24.
Time of India
26-06-2025
- Automotive
- Time of India
Apollo Tyres launches UHP made-in-India Aspire 5
Apollo Tyres Ltd has announced the launch of its latest Ultra-High Performance (UHP) tyre — Apollo Aspire 5 — developed and manufactured in India for both domestic and global markets. Apollo Aspire 5 will be available from July 2025. Targeting the fast-evolving UHP segment, defined by 17-inch and above rim sizes with W/Y speed ratings, Aspire 5 has been engineered to cater to the rising demand from the luxury car and electric vehicle (EV) segments. The tyre is EV-ready and has undergone extensive testing across Europe, India, Japan, and Korea, ensuring it performs well in diverse driving conditions, including Indian roads. 'Performance today goes beyond speed. Premium car buyers want silence, control, and comfort,' said Rajesh Dahiya, Vice President, Commercial (India, SAARC and Southeast Asia), Apollo Tyres . Co-developed with global OEMs Available in sizes ranging from 17 to 20 inches, Aspire 5 will fit most luxury vehicles and is co-developed with global OEMs. It features Dynamic Contour Technology for enhanced ride and acoustic comfort, and a Tri-Flex Compound for superior grip and high-speed stability. Manufactured at Apollo Tyres' state-of-the-art facility in Andhra Pradesh, the Aspire 5 underlines the company's ambition to lead in the passenger car radial replacement market. With its advanced features and global quality standards, the tyre is set to launch in Europe and other Asian markets after its India debut.
NDTV
30-05-2025
- Sport
- NDTV
Manchester United Players Harry Maguire, Andre Onana, Diogo Dalot Visit India For Grassroots Football Initiative
Manchester United players Harry Maguire, Andre Onana and Diogo Dalot visited India on Thursday, being part of the launch of the fifth edition of leading tyre-maker Apollo Tyres' 'United We Play' grassroots football programme initiative. Following a disappointing season, in which Manchester United recorded their lowest-ever Premier League finish of 15th, as well as lost the Europa League final, Maguire, Onana and Dalot reflected on it. Speaking to the media in Mumbai, Maguire admitted that the just-concluded season was tough. "This year has obviously been a difficult season in the Premier League. But I'm sure next season will be a lot different. There will be a lot of changes in the summer -- some players will leave, and hopefully new ones will come in. That's down to the club to get right. And for us as players, we have to step up. Playing for this club is special," Maguire said. Manchester United have had a tough time adapting to the system of new manager Ruben Amorim. Defender Diogo Dalot is one such player who has had to adapt, going from a full-back to a wing-back. Normally a right-sided player, Dalot has also had to play increasingly on the left side. "I'm used to it now. Obviously, on the right is where I feel more comfortable or I grew up and played more time. But throughout your career, you have to be able to do other things and be as complete as you can," Dalot said. Manchester United goalkeeper Andre Onana has also had a rough start to his time at the club, but ensured that filling the boots of club legends like David de Gea does not add pressure. "I don't feel pressure. It's not the pressure, it's an extra motivation. We have been in the game for so long, so I don't think we have any pressure. For sure, no. For me, it's the opposite," Onana said. Harry Maguire, André Onana and Diogo Dalot, who are on their maiden visit to India, officially launched and kicked off the activities for the fifth season of the United We Play programme. Over the past four seasons, the United We Play programme has reached out to over 30000 aspiring footballers across 25 cities in India. Speaking at the launch, Harry Maguire said, "It has been a privilege to be here today launching the new season of 'United We Play'. Manchester United has fans around the world and we can feel the passion that exists for the team and for the sport here in India. The work of the club and Apollo Tyres is ensuring the next generation of talent has the opportunity play football in excellent facilities, with the infrastructure around them to nurture talent. We have seen first-hand today how impactful the United We Play programme is and the positive effect it has at the grassroots level." Listen to the latest songs, only on
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Business Standard
29-05-2025
- Sport
- Business Standard
Maguire vows major shift at Manchester United for the next season
Manchester United's fortunes will turnaround next season provided players are ready to step up to the challenge and the club is able to get it right when it comes to fresh signings, said Harry Maguire here on Thursday. Manchester United finished at a lowly 15th spot last season with 11 wins, 18 defeats and nine drawn games while they began their postseason tour of Asia with a 0-1 loss to Asean All-Stars team in Kuala Lumpur in a friendly game on Wednesday. "This year has obviously been a difficult season in the Premier League. But I'm sure next season will be a lot different. There will be a lot of changes in the summer some players will leave and hopefully new ones will come in, Maguire told the media here at the launch of Apollo Tyres' United We Play. That's down to the club to get right. And for us as players, we have to step up. Playing for this club is special," he added. Maguire said he is happy with his own performance and hoped everything falls in place for the team which was once the most dominant side in the Premier League. "Yeah, obviously I've had some good moments myself but the most important thing is the team and it's not just this season. I think I've now been playing well for a couple of seasons. I'm in a good place and I'm happy to be helping the team, he said. United's Portuguese full back Diogo Dalot also chimed in with the same thoughts, hoping that the 20-time Premier League winner is back to challenging in other major competitions as well. I think this is the cycle where Man United has to go back to where it belongs and hopefully we can find that consistency for our next season and especially in results and then obviously fighting for competitions, competing for the best trophies and the best competitions, he said. But we need to take firm steps and there's a lot of changing happening not just inside the squad but obviously inside the club and I'm sure and I'm really positive about it that things will change, he added. Manchester United's goalkeeper Andre Onana said the players are determined to give their best. It's always a learning time. You never lose in life, you learn or you win. At the end of the day, we didn't win, so it was a learning time. We are still strong together and we will go on, we are used to this kind of situation, he said. We have been playing this game, some of us, for more than 10 years, so we are used to that. We will go again, try to do our best and hopefully next season, hopefully the coming season will be better, but as a player, you know football is about momentum, Onana added.
