Study on Financial Statement of Apollo Tyres Ltd.

Description
It was a year of mixed fortunes for the global economy. Many high-income economies continued to struggle to gain the growth momentum as they grappled with legacies of the global financial crisis. Few emerging economies emerged as the saviour with healthy growth but the growth engine of the world, China, underwent a carefully managed slowdown. US and UK had gathered pace but the recovery sputtered across Europe and Japan

APOLLO TYRES LTD.
Regd. Offce: 6th Floor, Cherupushpam Building, Shanmugham Road, Kochi-682 031 (Kerala)
(CIN-L25111KL1972PLC002449) Tel: +91 484 2372767 Fax: +91 484 2370351, Email : [email protected]
Web: apollotyres.com
NOTICE
NOTICE is hereby given that the 42nd Annual General Meeting of the members of APOLLO TYRES LTD. will be held as under: -
DAY : Tuesday
DATE : August 11, 2015
TIME : 10.00 A.M.
PLACE : Kerala Fine Arts Theatre,
Fine Arts Avenue,
Foreshore Road, Ernakulam,
Kochi (Kerala), India

to transact the following businesses:-
ORDINARY BUSINESS:
1. To consider and adopt:
(a) the audited fnancial statement of the Company for the fnancial year ended March 31, 2015, the reports of the Board of
Directors and Auditors thereon; and
(b) the audited consolidated fnancial statement of the Company for the fnancial year ended March 31, 2015.
2. To declare dividend on equity shares.
3. To appoint a Director in place of Mr.Sunam Sarkar (DIN – 00058859), who retires by rotation, and being eligible, offers himself
for re-appointment.
4. To ratify the appointment of the Auditors and fx their remuneration and in this regard to consider and if thought ft, to pass with
or without modifcation(s), the following resolution as an Ordinary Resolution :-
“RESOLVED THAT pursuant to the provisions of Section 139 and all other applicable provisions, if any of the Companies Act, 2013
and rules made thereunder (including any statutory modifcation(s) or re-enactment thereof), the appointment of M/s Deloitte
Haskins & Sells, Chartered Accountants (Registration No.008072S) which has been approved at the Annual General Meeting
held on August 6, 2014 for a term of 3 years, i.e. from the conclusion of the 41st Annual General Meeting until the conclusion of
the 44th Annual General Meeting, be and is hereby ratifed for the fnancial year 2015-16 and the Board of Directors/Committee
of the Board be and is hereby authorised to fx their remuneration plus travelling and other out of pocket expenses incurred by
them in connection with statutory audit and/or continuous audit under the Companies Act, 2013.
SPECIAL BUSINESS:
5. To ratify the payment of remuneration to the Cost Auditor for the fnancial year 2015-16 and in this regard to consider and if
thought ft, to pass with or without modifcation(s), the following resolution as an Ordinary Resolution:-
“RESOLVED THAT pursuant to the provisions of Section 148 and all other applicable provisions of the Companies Act, 2013
and the Companies (Audit and Auditors) Rules, 2014 (including any statutory modifcation(s) or re-enactment thereof for the
time being in force), the cost auditor, M/s.N.P.Gopalakrishnan & Co., Cost Accountants appointed by the Board of Directors of
the Company for carrying out Cost Audit of the Company’s plants at Perambra, Vadodara and Chennai as well as Company’s
leased operated plant at Kalamassery for the fnancial year 2015-16 be paid out a remuneration of Rs.2 lac per annum plus
reimbursement of out of pocket expenses.
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to do all acts and take all such
steps as may be necessary, proper or expedient to give effect to this resolution.”
8. Members intending to require information about accounts to be explained at the meeting are requested to write to the Company
at least 10 (ten) days in advance of the annual general meeting.
9. The shares of the Company are under compulsory demat list of Securities & Exchange Board of India w.e.f. November 11, 1999.
The trading in equity shares can now only be in demat form. In case you do not hold shares in demat form, you may do so by
opening an account with a depository participant and complete dematerialisation formalities.
10. Members holding shares in dematerialised mode are requested to intimate all changes with respect to their bank details,
mandate, nomination, power of attorney, change of address, e-mail address, change in name etc. to their depository participant.
These changes will be automatically refected in the Company’s records which will help the Company to provide effcient and
better service to the members.
11. Members holding shares in physical form are requested to intimate changes with respect to their bank account (viz. name and
address of the branch of the bank, MICR code of branch, type of account and account number), mandate, nomination, power of
attorney, change of address, e-mail address, change in name etc. immediately to the Company.
12. Voting through Electronic Means
I. In compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration)
Rules, 2014, substituted by Companies (Management and Administration) Amendment, Rules 2015, and Clause 35B of the
Listing Agreement, the Company has provided a facility of casting the votes by the members using an electronic voting
system from a place other than venue of AGM (“remote e-voting”)through the electronic voting service facility arranged by
National Securities Depository Limited(NSDL).
The facility for voting, through polling paper, will also be made available at the AGM and the members attending the AGM
who have not already cast their votes by remote e-voting shall be able to exercise their right at the AGM through polling
paper. Members who have cast their votes by remote e-voting prior to the AGM may attend the AGM but shall not be entitled
to cast their votes again.
The Instructions for e-voting are as under:
(A) In case of members’ receiving e-mail from NSDL;
i) Open e-mail and PDF fle viz. “ATL e-voting.pdf” with your Client ID or Folio No. as password. The said PDF fle
contains your user id and password for e-voting. Please note that the password is an initial password.
ii) Launch internet browser by typing the following URL:https://www.evoting.nsdl.com/
iii) Click on Shareholder – Login
iv) Put user id and password as initial password in step (i) above. Click Login.
v) Password change menu appears. Change the password with new password of your choice with minimum 8 digits/
characters or combination thereof. Note new password. It is strongly recommended not to share your password
with any other personand take utmost care to keep your password confdential.
vi) Home page of e-voting opens. Click on e-voting: Active Voting Cycles.
vii) Select “EVEN” of Apollo Tyres Ltd.
viii) Now you are ready for e-voting as Cast Vote page opens.
ix) Cast your vote by selecting appropriate option and click on “Submit” and also click “Confrm” when prompted.
x) Institutional shareholders (i.e. other than individuals, HUF, NRI etc are required to send scanned copy (PDF/JPG Format)
of the relevant Board Resolution/Authority letter etc. together with attested specimen signature of the duly authorised
signatory(ies) who are authorised to vote, to the scrutinizer through e-mail [email protected] or investors@apollotyres.
com with a copy marked to [email protected].
(B) In case of members’ receiving physical copy of the Notice of annual general meeting and attendance slip:
(i) Initial password is provided below the attendance slip.
(ii) Please follow all steps from Sl. No (ii) to (x) above, to cast vote.
6. To pay commission to the Non-Executive Directors and in this regard to consider and if thought ft, to pass with or without
modifcation(s), the following resolution as an Ordinary Resolution:-
“RESOLVED THAT pursuant to Section 197 and other applicable provisions, if any, of the Companies Act, 2013, and pursuant
to the provisions of the Articles of Association of the Company, a sum not exceeding 1% of the net profts of the Company per
annum, calculated in accordance with the provisions of Section 198 of the Companies Act, 2013 be paid and distributed among
the directors of the Company (other than the managing director(s) and the whole-time director(s)) in such proportion and in such
manner as may be decided by the Board of Directors and such payments shall be made with respect to the net profts of the
Company for each year commencing from April 01, 2015.”
By Order of the Board
For Apollo Tyres Ltd
Place: Gurgaon.
Dated: May 12, 2015.
(Seema Thapar)
Company Secretary
NOTES:
1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY/ PROXIES TO
ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF. SUCH A PROXY/ PROXIES NEED NOT BE A MEMBER OF THE
COMPANY.
A person can act as proxy on behalf of members not exceeding 50 (ffty) and holding in the aggregate not more than 10 (ten)
percent of the total share capital of the Company carrying voting rights. A member holding more than 10 (ten) percent of the
total share capital of the Company carrying voting rights may appoint a single person as proxy and such person shall not act as
a proxy for any other person or shareholder.
The instrument of Proxy in order to be effective, should be deposited at the Registered Offce of the Company, duly completed
and signed, not less than 48 hours before the commencement of the meeting. A Proxy form is enclosed herewith.
2. Members/ Proxies should fll the Attendance Slip for attending the meeting and bring their Attendance Slip along with their copy
of the annual report to the meeting.
3. The Register of Members and Share Transfer Books shall remain closed from August 6, 2015 to August 11, 2015 (both days
inclusive) for payment of dividend on equity shares. The Dividend, as recommended by the Board of Directors, if declared at
the meeting, will be paid, within 30 days from the date of declaration, to the members holding shares as on the record date i.e.
August 5, 2015 on 509,024,770 equity shares of the Company. In respect of shares held in dematerialised form, the dividend
will be paid on the basis of benefcial ownership as per details furnished by the respective depositories for this purpose.
4. Corporate members are requested to send a duly certifed copy of the Board resolution/authority letter, authorizing their
representative(s) to attend and vote on their behalf at the meeting.
5. The relevant explanatory statement pursuant to Section 102 of the Companies Act, 2013, in respect of the special businesses
set out above is annexed hereto.
6. All documents referred to in the notice are open for inspection at the registered offce of the Company between 11.00 am to
5.00 pm on any working day prior to the date of the meeting and will also be available at the meeting venue on the date of the
meeting.
Every member entitled to vote at a meeting of the Company, or on any resolution to be moved thereat, shall be entitled during the
period beginning twenty-four hours before the time fxed for the commencement of the meeting and ending with the conclusion
of the meeting, to inspect the proxies lodged, at any time during the business hours of the company, provided not less than three
days’ notice in writing of the intention so to inspect is given to the company.
7. The Register of Contracts or Arrangements in which Directors are interested maintained under Section 189 of the Companies
Act, 2013 and the Register of Director and Key Managerial Personnel and their shareholding maintained under Section 170 of
the Companies Act, 2013 will be available for inspection by the members at the annual general meeting.
II. If you are already registered with NSDL for e-voting then you can use your existing user id and password for casting
your vote.
III. The e-voting period commences on August 8, 2015 (10:00 am) and ends on August 10, 2015 (5:00 pm). During this period
shareholders’ of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date of
August 5, 2015, may cast their vote electronically. The e-voting module shall be disabled by NSDL for voting thereafter.
Once the vote on a resolution is cast by the shareholder, the shareholder shall not be allowed to change it subsequently.
IV. The voting rights of shareholders shall be as per the number of equity shares held by members as on the cut-off date of
August 5, 2015.
V. Mr P P Zibi Jose, Practicing Company Secretary has been appointed as the scrutinizer to scrutinize the e-voting process in
a fair and transparent manner.
VI. The Scrutinizer shall, immediately after the conclusion of voting at the general meeting, frst count the votes cast at
the meeting, thereafter unblock the votes cast through remote e-voting in the presence of at least two witnesses not in
the employment of the Company and make, not later than three days of conclusion of the meeting, a consolidated
Scrutinizers Report of the total votes cast in favour or against, if any, to the Chairman or a person authorised by him in
writing who shall counter sign the same.
VII.The Results shall be declared by the Chairman or the person authorised by him in writing not later
than three days of conclusion of the annual general meeting of the Company. The Results declared along with
the Scrutinizer’s Report shall be placed on the Company’s website www.apollotyres.com and on the website
of the NSDL immediately after the result is declared by the Chairman . Members may also note that the Notice
of the 42nd annual general meeting and the Annual Report 2015 will be available on the Company’s and NSDL
website.
Any person, who acquires shares of the Company and become member of the Company after dispatch of the notice and
holding shares as of the cut-off date i.e. August 5, 2015, may obtain the login ID and password by sending a request at
[email protected] or to the Company.
However, if you are already registered with NSDL for remote e-voting then you can use your existing user ID and password
for casting your vote. If you forgot your password, you can reset your password by using “Forgot User Details/Password”
option available on www.evoting.nsdl.com or contact NSDL at the following toll free no.: 1800-222-990.
In case of any grievance connected with the facility for voting by electronic means, Members can directly contact Mr Rajiv Ran-
jan, Assistant Manager, NSDL, 4th Floor, ‘A’ Wing, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel,
Mumbai- 400 013. Email: [email protected] or [email protected], Toll free no- 1800-222-990. Members may also write to the
Company Secretary at the email ID: [email protected].
13. Electronic copy of the Annual Report and Notice of the 42nd annual general meeting of the Company inter alia indicating the
process and manner of e-voting along with Attendance Slip and Proxy Form is being sent to all the members whose email IDs
are registered with the Company/Depository Participants(s) for communication purposes unless any member has requested for
a hard copy of the same. For members who have not registered their email address, physical copies of the Annual Report and
Notice of the 42nd annual general meeting of the Company inter alia indicating the process and manner of e-voting along with
Attendance Slip and Proxy Form is being sent in the permitted mode.
14. Those members who have so far not encashed their dividend warrants for the below mentioned fnancial years, may claim or
approach the Company for the payment thereof, as the same will be transferred to the “Investor Education and Protection
Fund” of the Central Government pursuant to section 125 of the Companies Act, 2013 (Section 205C of the Companies Act,
1956) on the respective dates mentioned there against. Kindly note that after such transfer, the members will not be entitled to
claim such dividend.
Financial Year Ended Due date of Transfer
31.03.2008 17.09.2015
31.03.2009 22.09.2016
31.03.2010 28.09.2017
31.03.2011 15.10.2018
31.03.2012 13.10.2019
31.03.2013 06.10.2020
31.03.2014 05.10.2021
15. Pursuant to section 101 and section 136 of the Companies Act, 2013 read with relevant rules made thereunder, Companies can
serve annual reports and other communications through electronic mode to those members who have registered their e-mail
address with the Company or with the Depository Participant(s). Members who have not registered their e-mail address with
the Company can now register the same by submitting the duly flled in “E-mail Registration Form”, available on the website of
the Company, to the Company. Members holding shares in demat form are requested to register their e-mail address with their
Depository Participant(s) only. Members of the Company, who have registered their e-mail address, are entitled to receive such
communication in physical form upon request.
16. The Notice of annual general meeting and the copies of audited fnancial statements, directors’ report, auditors’ report etc. will
also be displayed on the website (www.apollotyres.com) of the Company.
17. As per the provisions of clause 5A(II) of the Listing Agreement (SEBI circular no. CIR/CFD/DIL/10/2010 dated December 16,
2010) the unclaimed/undelivered shares lying in possession of the Company had been dematerialised and transferred into an
“Unclaimed Suspense Account”. Shareholders who have not yet claimed their shares are requested to immediately approach
the Company by forwarding a request letter duly signed by all the shareholders furnishing the necessary details to enable the
Company to take necessary action.
18. The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent Account Number (PAN) by
every participant in securities market. Members holding shares in electronic form are, therefore, requested to submit the PAN
to their depository participants with whom they are maintaining their demat accounts. Members holding shares in physical form
are requested to submit their PAN details to the Company.
19. To prevent fraudulent transactions, members are advised to exercise due diligence and notify the Company of any change in
address or staying abroad or demise of any member as soon as possible. Members are also advised not to leave their demat
account(s) dormant for long. Periodic statement of holdings should be obtained from the concerned Depository Participants and
holdings should be verifed.
20. Details under clause 49 of the Listing Agreement with the Stock Exchange in respect of the Director seeking re-appointment at
the annual general meeting, forms integral part of the notice. The concerned Director has furnished the requisite declarations
for his re-appointment and his brief profle forms part of the explanatory statement.
21. Kindly register your email address and contact details with us, by writing to us addressed to the Secretarial Department at our
corporate offce, or at our e-mail ID: [email protected] will help us in prompt sending of notices, annual reports
and other shareholder communications in electronic form.
22. The route map of the venue for the Annual General Meeting is attached herewith and also available on the website of the
Company.
23. As per Section 118(10) of the Companies Act, 2013 read with the Secretarial Standards for General Meeting issued by Institute
of Company Secretaries of India “No gifts, gift coupons or cash in lieu of gifts shall be distributed to member at or in connection
with the meeting.”
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013
Item No. 5
The Board at its meeting held on May 12, 2015, on the recommendation of the Audit Committee, had re-appointed
M/s.N.P.Gopalakrishnan & Co., Cost Accountants for carrying out Cost Audit of the Company’s plants at Perambra, Vadodara and
Chennai as well as Company’s leased operated plant at Kalamassery for the fnancial year 2015-16 on remuneration of Rs.2 lac per
annum plus reimbursement of out of pocket expenses.
As per Rule 14 of The Companies (Audit and Auditors) Rules, 2014 the remuneration of the Cost Auditors which is recommended
by the Audit Committee shall be considered and approved by the Board of Directors and subsequently ratifed by the shareholders.
None of the Directors or Key Managerial Personnel (KMPs) of the Company or their relatives is concerned or interested in the
resolution.
The Board of Directors recommends resolution set out at item no.5 for your consideration and ratifcation.
Item No. 6
The resolution proposes to seek approval of members in accordance with Section 197 of the Companies Act, 2013 in order to con-
tinue payment of commission to non-executive Directors. The Board of Directors will determine each year, keeping in view the remu-
neration policy of the Company, the specifc amount to be paid as commission to the non-executive directors, which shall not exceed
1% of the net profts of the Company for that year, as computed in the manner referred to in Section 198 of the Companies Act, 2013.
The payment of commission would be in addition to the sitting fees payable for attending meetings of the Board and committees
thereof, if any.
All non-executive Directors of the Company may be deemed interested in the resolution to the extent of commission payable to them
in accordance with the proposed resolution.
None of the Key Managerial Personnel (KMPs) of the Company or their relatives is concerned or interested in the resolution.
The Board of Directors recommends resolution set out at item no.6 for your consideration and approval.
DETAILS OF DIRECTORS SEEKING APPOINTMENT/RE-APPOINTMENT AS REQUIRED UNDER CLAUSE 49 OF THE LIST-
ING AGREEMENT WITH THE STOCK EXCHANGE
Item No. 3
Mr Sunam Sarkar, aged about 50 years holds a Bachelor of Commerce (Honours) degree from St Xavier’s College, Calcutta Univer-
sity, a Diploma in International Management from INSEAD, France, and a Masters in Management from Lancaster University, UK
and has over 27 years experience in the feld of sales, marketing, business operations and corporate strategy. He began his career as
a management trainee at General Electric Limited. Subsequently, he joined Modi Xerox where he was one of the youngest executives
to head a business unit as General Manager. His acumen in the area of alliances, business development and corporate communica-
tions has enabled our organisation to evolve into a market leader in tyre industry. Mr.Sunam Sarkar is currently President and Chief
Business Offcer of our Company. He joined the Board of Directors of the Company in the year 2004.
Mr. Sunam Sarkar holds Directorship in the following companies:-
- Apollo (South Africa) Holdings (Pty) Ltd
- Apollo Vredestein B.V and
- Apollo Tyres Holdings (Singapore) Pte Ltd
He is not holding any shares in the Company.
There is no inter-se relationship between Mr. Sunam Sarkar and other Directors.
None of the Directors or KMPs of the Company or their relatives except Mr.Sunam Sarkar is concerned or interested in the resolution.
By Order of the Board
For Apollo Tyres Ltd
Place: Gurgaon.
Dated: May 12, 2015.
(Seema Thapar)
Company Secretary
Regd. Offce: 6th Floor, Cherupushpam Building, Shanmugham Road, Kochi-682 031 (Kerala)
(CIN-L25111KL1972PLC002449) Tel: +91 484 2372767 Fax: +91 484 2370351, Email : [email protected]
Web: apollotyres.com
C0NTENT
CHAIPMAN'S MESSASE 03
vICE CHAIPMAN'S MESSASE 05
SUPEPvISDPY BDAPD 08
MANASEMENT BDAPD I0
PEPFDPMANCE HISHLISHTS I2
MANASEMENT DISCUSSIDN & ANALYSIS I9
SUSTAINABILITY 39
FINANCIALS 59
- DIPECTDPS' PEPDPT
- CDPPDPATE SDvEPNANCE PEPDPT
- STANDALDNE ACCDUNTS
- CDNSDLIDATED ACCDUNTS
CHAIPMAN'S MESSASE
ANNUAL PEPDPT 20I4-I5 03
Ieui Memhei,
Il hus heen suíd lhul compuníes lhul huíld scule loi lhe
henelíl ol lheíi cuslomeis und shuieholdeis moie
ollen succeed ovei líme. 1hese uie woids whích huve
ulwuys delíned oui guídíng piíncíples ul Apollo, und
huve heen ín evídence lhís yeui loo. 1he hiuve und
deleimíned sleps we look lhís yeui huve lhiown up
iesulls ulieudy und uie hound lo huve lui·ieuchíng
consequences loi lhe compuny.
We look u leul oul ol lhe new goveinmenl´s locus on
chungíng lhe esluhlíshed oidei und hioughl lhís
elhos ínlo Apollo ín lhe hope ol cieulíng u hellei
luluie loi ouiselves. Il we leel we deseive moie, we
need lo he wíllíng lo líghl loi whul should iíghllully he
ouis. We ieulísed lhul opeiulíons on u glohul scule
could gíve us lhe leveiuge lo munuge íncieusíngly
consolíduled cuslomeis on lhe one hund und evei·
luigei supplíeis on lhe olhei. We suw lhul u hulunced
piesence ucioss lhe glohe und vuiíed pioducl línes
would he lhe hesl ínsululíon liom muikel cycles und
shoil leim pioducl chullenges.
1hís decísíon lhough wus possíhle hecuuse ol oui
luílh ín oui leum und you, oui shuieholdeis. Il
enuhled us lo pul u glohul expunsíon sliulegy ínlo
uclíon whích would help us giow. Il ulso suw us lukíng
deleimíned sliídes ín mukíng Apollo u glohul
compuny wílh un Indíun heuil.
1oduy 11 , lhunks lo lhe husíness decísíons luken ín lhe
pusl yeui und lhe geogiuphíes we enleied, I cun
pioudly suy lhul we huve hecome u mullí·culluiul
compuny. Glohulísulíon hus ensuied lhul we
liunsloim ínlo u compuny lhul seuiches und liuveises
lhe woild, nol [usl lo sell oi lo souice, hul lo línd
ínlellecluul cupílul · lhe woild´s hesl mínds und
gieulesl ídeus. We huve luken eveiy slep lo índucl
new people who come liom díveise culluies und
geogiuphíes und elhnícílíes ínlo lhe glohul Apollo
lumíly. Il ís hecuuse we huve heen uhle lo successlully
ussímílule lhose liom ucioss lhe glohe ínlo lhe Apollo
culluie, lhul oui peiloimunce ís lhul much hellei. We
huve u cleui vísíon lhul 60% ol oui husíness should he
ínleinulíonul, whíle lhe iemuíníng 40% Indíun.
1heie weie u luige numhei ol míleslones - und u lew
huidles - whích I would líke lo híghlíghl. As Juck
Welch suíd, un oigunísulíon´s uhílíly lo leuin, und
liunslule lhul leuiníng ínlo uclíon iupídly, ís lhe
ullímule compelílíve udvunluge.
We wídened oui glohul loolpiínl hy enleiíng new
muikels. We mude 1huílund oui ASLAN huh, whíle
ulso enleiíng new muikels líke Muluysíu, Qului und
Joidun. Oui compuny wus commended loi íls
ínveslmenls ín íncieusíng Apollo Viedesleín cupucíly
lo 6.2 míllíon lyies unnuully · up liom 5.S míllíon lyies
pei unnum. 1heie wus u sígnílícunl íncieuse ín lhe
cupucíly ol Oll Híghwuy 1yi 11 es lo 25 lonnes ín
Kulumusseiy plunl ín Keiulu und lheie uie pluns lo
iump up lo l00 lonnes ín lhe neui luluie. We
expunded oui ussocíulíon wílh Muncheslei Uníled lo
66 counliíes. We successlully sold puil ol oui Aliícun
suhsídíuiy lo Sumílomo. 1hiough lhe yeui, lhe one
lucl lhul hus holsleied me und luken lhís compuny
loiwuid ís lhul we uie u sound compuny wílh u cleui
vísíon und wílh u leum whích cun help us uchíeve
lhul vísíon.
Much líke Indíu ís iucíng lowuids lukíng íls iíghllul
pluce ín lhe glohul economy, so ís Apollo. We wíll once
uguín go huck lo lhe yeuis ol susluíned hígh giowlh ín
Indíu, und Apollo wíll he ul lhe loielionl ol lhul
giowlh.
Oui Socíul Responsíhílíly und Susluínuhílíly elloils
conlínue lo wín us luuiels, hecuuse we undeiluke
lhese wílh lhe sume helíels und convíclíon us we do
oui commeicíul uclívílíes. Whul mukes us dílleienl
liom olhei compuníes ís lhul we huve mude lhese
elloils ínliínsíc lo oui commeicíul uclívíly oi sliulegy,
und nol somelhíng lhul we uie loiced lo do hy
iegululoiy mundule.
1oduy 11 , íl gíves me gieul piíde lo suy lhul we uie u
mullí·culluiul glohul compuny. I would líke lo lhunk
euch one ol you, oui vuluuhle shuieholdeis, loi heíng
oui co·pussengeis on lhís [ouiney. We huve ieceíved
unendíng suppoil liom hunks, línuncíul ínslílulíons
und vuiíous Slule und Nulíonul Goveinmenls wheie
we opeiule, whích hus ullowed us lo suipuss lhe gouls
we hud sel loi ouiselves. On hehull ol lhe Bouid ol
Iíieclois, I would líke lo ucknowledge eveiy síngle
employee, nelwoik puilnei und husíness puilnei loi
huvíng slood hy Apollo und uclívely conliíhuled lo íls
success.
Alwuys iememhei lhul euch employee, euch peison
ínvolved ín lhís compuny ín uny smull oi luige
meusuie, hus un owneishíp ovei lhís compuny. We
uie whul we uie hecuuse we slund logelhei us u
lumíly. 1hís would nol huve heen possíhle wílhoul
youi suppoil.
Youis YY sínceiely,
Onkui Onkui SSKunwui Kunwui
Chuíimun LMunugíng Iíiecloi
VICE CHAIPMAN'S MESSASE
Ieui Memhei,
Iíscul 20l4·l5 wus u yeui muiked wílh liunlíc uclívíly
ul Apollo 1yi 11 es. New Gieenlíeld plunl, ínleinulíonul
luunches, hígh decíhel hiund cumpuígn... I um suie us
you ieud lhiough lhe puges, you wíll see u smull
glímpse ol lhe enlhusíusm und exhíluiulíon ul lhe
compuny.
Iespíle lhe ups und downs, lhe yeui wus momenlous
und wíll he elched ín lhe unnuls ol Apollo 1yi 11 es. Il wus
oui decísíon lo go uheud wílh oui líisl Gieenlíeld ín
Hunguiy, lhe líisl líme lhul un Indíun lyie compuny
hus venluied lo sel up u new plunl oulsíde lhe nulíonul
nd
hounduiíes. 1hís 2 munulucluiíng lucílíly ín Luiope,
lhe mosl demundíng und excílíng ol lyie muikels, ís
ciílícul lo luilhei oui giowlh ín lhe conlínenl. Il wíll
uugmenl oui cupucíly ín lhe iegíon und gíve us u
sliongei piesence ín Luiope us we ieuch oul lo lhe OL
pluyeis ín lhe iegíon. Impoilunlly, íl wíll help lhe
compuny lo nuiiow lhe gup loi lhe giowíng demund
loi íls lwo hiunds - Apollo und Viedesleín, ínLuiope.
Whíle lhe Gieenlíeld plunl ín Hunguiy wus lhe híg
news, oui commílmenl lo Indíu conlínued. Allei lhe
megu ínveslmenl ín lhe Chennuí plunl u lew yeuis
huck, we unnounced pluns lo iump up lhe cupucíly loi
lhe second phuse ol giowlh loi lhís plunl. Símíluily,
we huve diuwn ínveslmenl pluns loi oui olhei plunls
lo expund oui oll·híghwuy lyies munulucluiíng
cupucíly ín Keiulu.
Lven us we scule oui cupucílíes ucioss lhe lwo
conlínenls, we conlínued lo locus on huíldíng oui
hiunds ucioss oui key muikels. In Indíu, oui
ussocíulíon wílh Muncheslei Uníled ís puyíng u iích
dívídend us íl hus iuísed lhe hiund iecognílíon seveiul
nolches híghei. 1ukíng lhe spoils puilneishíp
loiwuid, we íncieused lhe scope ol puilneishíp
duiíng lhe yeui. Now lhe cumpuígn, Feiloimunce -
lheie uie no shoilculs, ís uvuíluhle ín mullíple
muikels. 1hís hus helped ín iuísíng lhe hiund
uwuieness ín muny olhei counliíes und mude
cuslomeis uwuie ol oui hígh peiloimunce hiund. 1he
pusl líscul yeui ulso suw lhe luunch ol lhe co·hiund
Apollo 1yi 11 es·Muncheslei Uníled lyies ín UK und
1huílund lo un enlhusíuslíc iesponse.
A shuip locus on muikelíng coupled wílh conlínuíng
ínveslmenls ín RLI ís lhe munliu lo Apollo´s nexl
level ol giowlh. 1he compuny does nol helíeve ín u
'one síze líls ull´ phílosophy und íl ís ímpoilunl lo
piovíde pioducls suílíng lo muikel iequíiemenls.
RLI ís piovídíng lhe ímpelus lo luke loiwuid lhís
míndsel. Oui dedículed RLI cenlies loi Fussengei
und Commeicíul vehícle lyies huve shuipened oui
locus on vuiíous pioducl culegoiíes und helped us
luunch new pioducls lhul uie ín lune wílh cuslomei
needs. Ioi exumple, lusl yeui, we luunched u new
cioss ply lechnology hused lyie, AWR·HI AA wílh lhe
Apollo HIIlechnology, loi lhe Indonesíun muikel.
We conlínued lo exploie new geogiuphíes, new
pioducl culegoiíes und new cuslomei segmenls lo
giow oui husíness. We iecogníse lhul lhe woild ís
evolvíng veiy iupídly und socíul medíu und e·
commeice uie chungíng liudílíonul wuys ol doíng
husíness. We uie ulíve lo lhe ieulílíes ol
envíionmenlul und lechnologícul chullenges. Oui
leums uie woikíng on ull lhese uieus lo ensuie lhul
Apollo ulwuys iemuíns ul lhe loielionl ol ínnovulíon
und keeps hieukíng new pulhs ín cuslomei
expeiíences.
In lhe end, I helíeve lhul lhe compuny´s success ís
hused on people. All lhe uhove meusuies wíll he
wusled íl lhe iíghl people uie nol ul lhe helm. Lusl
yeui wus momenlous ín lhís sense us well. 1o 11 luilhei
uugmenl Apollo´s lusl puced giowlh [ouiney, we
cieuled seveiul key new posílíons woildwíde. We
expunded lhe munugemenl leum und hioughl ín lop·
nolch lulenl ucioss vuiíous lunclíons íncludíng RLI,
HR, Quulíly, elc. lo hiíng u new peispeclíve lo lhe
oigunísulíon.
I um suie lhese ínveslmenls und chunges wíll luel oui
giowlh ín lhe yeuis uheud. I wíll ceiluínly conlínue lo
shuie deluíls und updule you on un unnuul husís ol
lhís lunluslíc [ouiney us we iuce uheud lo lhe nexl
chuplei ol lhe compuny´s sloiy.
Wílh hesl ieguids,
Neeiu[ Kunwui
Více Chuíimun L Munugíng Iíiecloi
ANNUAL PEPDPT 20I4-I5 05
Lxploie u dílleienl possíhílíly
A sense ol communíly.
A dedículíon lo leumwoik.
A iespecl loi oui lellow woikeis.
1he moie we locus on lhese vulues,
lhe sliongei we hecome.
LXFLORL A
IIIILRLN1 FOSSIBILI1Y
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0hairman & Managing DirecLor  Akshay 0hudasama, ParLner, d Sagar AssociaLes  A K Purwar, Former 0hairman, 
SLaLe Bank ol India  0nkar S Kanwar, 0hairman & Managing DirecLor  Nimesh N Kampani, 0hairman, dM Financial 
0roup
(SLanding  L-P).  Sunam  Sarkar,  PresidenL,  0hiel  Business 0llicer  &  Whole-Lime  DirecLor  Neera|  Kanwar,  vice 
08 APDLLD TYPES LTD LL
SUPEPVISDPY BD PP APD
(SiLLing  L-P).  Pallavi  Shroll, Managing  ParLner, Shardul  Amarchand  Mangaldas  & 0o  Dr.  S  Narayan,  Principal
SecreLary Lo Lhe Former Prime MinisLer ol India  PoberL SLeinmeLz, Former 0hiel ol InLernaLional Business, 0onLinenLal
A0
(NoL in picLure).  vikram S MehLa, Former 0hairman, Shell 0roup ol 0ompanies  P H Kurian, Principal SecreLary
(IndusLries &IT), 0overnmenL ol Kerala
ANNUAL PEPDPT 20I4-I5 09
MarkeLing 0llicer  ALulya Sharma, 0hiel Legal 0ounsel  Markus d KorsLen, 0hiel ManulacLuring 0llicer  Sunam 
Sarkar, PresidenL  and  0hiel  Business 0llicer  Pedro  MaLos,  0hiel  0ualiLy 0llicer  Dr  Seshu  BhagavaLhula,  0hiel 
Technology  TT 0llicer   PeLer Snel, 0hiel, P&D Pv   0aurav Kumar, 0hiel Financial 0llicer 
(SLanding L-P).  SaLish Sharma, PresidenL, APMEA  MaLhias Heimann, PresidenL, EA  Marco Paracciani, 0hiel 
MANASEMENT BDAPD
(SiLLing L-P).  MarLha Desmond, 0hiel Human Pesources 0llicer  Neera| Kanwar, vice 0hairman & Managing DirecLor 
0nkar S Kanwar, 0hairman & Managing DirecLor  PoberL SLeinmeLz, Non ExecuLive DirecLor  P K Mohamed, 0hiel 
Advisor, P&D 
(NoL inpicLure).   KPrabhakar, 0hiel, Pro|ecLs
ANNUAL PEPDPT 20I4-I5 II I0 APDLLD TYPES LTD LL
PEPFDPMANCE HISHLISHTS
M
T
/
D
c
y
0APA0ITY
2I00
I800
I500
I200
900
600
300
0
FYI2 FYII FYI3 FYI4 FYI5
I395
I595
I785
I685
I640
88.68
I2I.53
I33.I0
I27.95
NET SALES
FYI2 FYII FYI3 FYI4 FYI5
I27.26
I40
I20
I00
80
60
40
20
0

8
||
|
|c
n
NET PP0FIT
4.I0
6.I3
I0.05
4.40
FYI2 FYII FYI3 FYI4 FYI5

8
||
|
|c
n
I2
I0
8
6
4
2
0
9.78
6.56
5.84
II.40
8.94
FYI2 FYII FYI3 FYI4 FYI5

8
||
|
|c
n
I2
I0
8
6
4
2
0
0APITAL EXPENDITUPE (0apex)
6.38
PEvENUE SE0MENTATI0N BY 0E00PAPHY
AFMLA ¯2.l%
LA 2¯.º%
PEvENUE SE0MENTATI0N BY 0UST0MEP
Replucemenl ¯l %
OLM 22.S%
Lxpoil 6.2%
PEvENUE SE0MENTATI0N BY PP0DU0T
1iuck·Bus 4¯.4%
Fussengei Vehícles 34.6%
Oll Híghwuy º.5%
Líghl 1iuck 6.S%
Olhei l.¯%
ANNUAL PEPDPT 20I4-I5 I3 I2 APDLLD TYPES LTD
DEBT. E0UITY
FYI2 FYII FYI3 FYI4 FYI5
P
c
t
|c
I.2
I
0.8
0.6
0.4
0.2
0
I.03 I.0I
0.78
0.35
0.22
I8.3
I6.3
I5.4
23.6
PETUPN 0N 0APITAL EMPL0YED
FYI2 FYII FYI3 FYI4 FYI5
º
P
e
t
u
r
n
25
20
I5
I0
5
0
23.9
I0.I6
I5.5I
I9.73
II.99
EBIDTA
FYI2 FYII FYI3 FYI4 FYI5

8
||
|
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20
I5
I0
5
0
I9.84
2.30
3.33
3.29
I.03
DEBT. EBITA
FYI2 FYII FYI3 FYI4 FYI5
P
c
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|c
3.5
3
2.5
2
I.5
I
0.5
0
0.69
P
5
5
4

/
K
ç
1
n
d
|c
NATUPAL PUBBEP PPI0E M0vEMENT
I50
I45
I40
I35
I30
I25
I20
II5
Apr-I4 dun-I4 Aug-I4 0cL-I4 Dec-I4 Mar-I5
8
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0PUDE 0IL PPI0E M0vEMENT
I20
II0
I00
90
80
70
60
50
40
Apr-I4 dun-I4 Aug-I4 0cL-I4 Dec-I4 Mar-I5
ANNUAL PEPDPT 20I4-I5 I5 I4 APDLLD TYPES LTD
Moie ellícíenl piocesses.
Supeiíoi lechnologíes.
Gieulei Innovulíons.
1he moie we unleush oui polenlíul,
lhe moie we wíll uchíeve.
LXFLORL YOUR
FO1LN1IAL
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MANASEMENT DISCUSSIDN AND ANALYSIS
IL was a year ol mixed lorLunes lor Lhe global economy. Many high-income economies conLinued Lo 
sLruggle Lo gain Lhe growLh momenLum as Lhey grappled wiLh legacies ol Lhe global linancial crisis. 
Few emerging economies emerged as Lhe saviour wiLh healLhy growLh buL Lhe growLh engine ol Lhe 
world, 0hina, underwenL a carelully managed slowdown. US and UK had gaLhered pace buL Lhe 
recovery spuLLered across Europe and dapan.
DespiLe Lhe local and global economic condiLions, Apollo Tyres conLinued on iLs sLraLegy Lo invesL 
during lean Limes Lo build lor Lomorrow's growLh. The company had invesLed Lo seL up a new planL in 
0hennai, India even as Lhe world was going Lhrough a severe economic recession. In a re-run ol iLs 
2009 sLraLegy, Lhe company announced invesLmenL ol Euro 475 million in a 0reenlield laciliLy in 
Hungary. During Lhe year, Lhe company inLroduced Lop-noLch producLs lor Lhe European and Asian 
markeLs and saw an inlusion ol Lop LalenL in Lhe organisaLion. 
During Lhe FY, Lhe company exiLed iLs manulacLuring acLiviLies in SouLh Alrica impacLing Lhe Lopline 
growLh. The 0ompany's neL sales dropped by 4.4º Lo  I27,257 million. 0peraLing proliL aL  I9,844 
million was up by Iº, while NeL ProliL saw a marginal lall ol 3º aL   9,776 million.
MARKL1 OVLRVILW
1he líscul yeui íIY! ín Indíu sluiled wílh u 'good leel´
lucloi ol u new mu[oiíly goveinmenl und possíhílílíes
ol exleinul vulneiuhílílíes on lhe wune. Coupled wílh
conlínuíng solleníng ol oíl piíces sínce Seplemhei
20l4, íl wus pio[ecled us lhe yeui ol ievívul. Luily ín
lhe yeui, Indíu´s Cenliul Slulíslícul Oigunísulíon
íCSO! ieleused lhe udvunce eslímules ol giowlh
numheis whích índículed lhul lhe Indíun economy
wíll see u giowlh ol ¯.4% loi IYl5.
Howevei, lhe good leel lucloi díd nol liunslule ínlo
hígh giowlh loi lhe vuiíous segmenls ín lhe
uulomohíle índusliy. Whíle lheie weie lhe usuul sílvei
líníngs líke lhe Goods Cuiiíei segmenl whích giew hy
ovei 2l%, lhe olhei muín diíveis ol lhe índusliy
wílnessed negulíve oi muled giowlh. Lven loi lhe
Goods Cuiiíei segmenl, íl ís ímpoilunl lo nole lhul
giowlh hus come ullei lwo yeuis ol de·giowlh
iesullíng ín u low huse. 1he oveiull giowlh numheis
loi lhe key segmenls líke pussengei und commeicíul
vehícles slood ul u meie 2.5%. Il ís only due lo lhe
hígh volume lwo·wheeleis und lhiee·wheeleis
segmenls lhul lhe índusliy could posl un oveiull
giowlh ol ¯.2%.
Gíven lhe díiecl coiielulíon ol lhe lyie índusliy und
lhe uulomohíle índusliy, lhe loimei posled u
ANNUAL PEPDPT 20I4-I5 I9
muigínully híghei giowlh iule lhun lhe uulomolíve
segmenl. Bused on lhe dulu uvuíluhle loi ll monlhs
liom Aulomolíve 1yies Munulucluieis´ Assocíulíon,
lhe Indíun lyie índusliy iegísleied u º% giowlh wílh
lhe liuck segmenl giowíng hy ¯.º% und lhe
pussengei cui segmenl [umpíng hy l2.4%. 1hís ís
uguínsl u lull yeui giowlh ol 5% ín IYl4.
Ioi Luiope, íl wus u yeui ol lenlulíve iecoveiy ín
Culendui Yeui íCY! 20l4. 1he oveiull GIF giowlh ín
Luio uieu counliíes ín CYl4 wus 0.S% íCYl3 ·0.4%!.
Geimuny conlínued lo oulpeiloim lhe iegíon wílh
GIF giowlh loi CYl4 ul l.6% íCYl3 0.5%!. Whíle íl
wus muigínully hellei lhun lhe eslímules, íl wus nol
sliong enough lo pull lhe economy oul ol lhe
doldiums. 1he puce ol lhe iecoveiy iemuíned slow us
Luiope conlínued lo sliuggle lo leuve lhe legucíes ol
lhe ciísís hehínd íl.
Whíle piívule consumplíon hus heen lhe muín engíne
ol giowlh ín lhe cuiienl iecoveiy, ínveslmenl hus
luíled lo iecovei und expoils huve done líllle lo
suppoil giowlh. Whíle deleimíned polícy uclíon und
lhe lull ín ciude oíl piíces suppoiled giowlh, lhe
economíc iecoveiy ís heíng iesliuíned hy hígh puhlíc
und piívule dehl, hígh levels ol unemploymenl und
low conlídence levels.
Neveilheless, íl wus u yeui ol giuduul domeslíc
heulíng us consumei conlídence hecume sliongei.
1he sliong consumei conlídence duiíng lhe yeui
showed ílsell ín new cui iegísliulíons. Ioi CYl4, wílh
u 5.¯% giowlh, new cui iegísliulíons íncieused loi
lhe líisl líme sínce 200¯. Símíluily, lhe commeicíul
segmenl posled un oveiull giowlh ol ¯.6% led hy lhe
líghl commeicíul vehícles whích giew shuiply hy
ll.3% und uccounled loi S3% ol lolul new
commeicíul vehícle iegísliulíons.
1he yeui sluiled wílh good demund loi summei und
ull seuson lyies. Lven lhe wínlei pie·seuson sules wus
id
good. Howevei, u wuim wínlei síluulíon loi lhe 3
yeui ín u iow coupled wílh hígh ínvenloiy posílíon
wílh lhe cuslomeis ullecled lhe peiloimunce ol
wínlei lyie sules duiíng lhe yeui. Ioi lhe enlíie CY,
especíully ín lhe loui key segmenls íncludíng
Apo||o 1yrcs slowcas|nq |rs proJucr ranqc ar rlc Ccncva Moror Slow
pussengei cuis, hus und liuck, ugiículluie und lwo
wheeleis, lhe giowlh wus u lepíd 2% us compuied lo
íls pievíous yeui.
INIUS1RY S1RUC1URL ANI
ILVLLOFMLN1S
1he Scooleis ílwo/lhiee wheeleis! und lhe
Moloicycle lyie uccounled loi 52% ol lhe lolul
volumes, whíle lhe olhei heuvyweíghls íMLHCV,
pussengei cuis, LCV, liuclois und oll ioud híghwuy,
elc.! uccounled loi lhe hulunce 4S%. As pei índusliy
eslímules, lhe key heuvyweíghls, pussengei cui
segmenl posled u heullhy clíp ol l2.4% und lhe liuck
segmenl giew ul u ¯.º% ín volume leims. Ioi lhe
segmenls undei consídeiulíon, pussengei cui und
liuck, us pei eslímules, OLMs uccounled loi 42% und
l¯% iespeclívely. 1he ieplucemenl muikel
conlínued lo suppoil lhe lyie mu[ois und uccounled
loi 45% und ¯S% loi lhe menlíoned segmenls.
Impoils hus hecome un ímpoilunl souice ol lyies ínlo
lhe counliy und, us pei índusliy eslímules, uccounled
loi l3% und l4% loi lhe pussengei cui und 1BR
segmenls. 1hís wíll conlínue lo huunl lhe índusliy ín
lhe cuiienl líscul us lhe giowlh ol low cosl lyies liom
Chínu conlínues unuhuled. Gíven lhe 'ínveiled´
ímpoil duly sliucluie ín Indíu, wheie lyies ílíníshed
pioducl! ulliucl lowei duly, wheieus iuw iuhhei íiuw
muleiíul! ulliucls u híghei duly levy, lhe Indíun
muikel wus llooded wílh low cosl lyies ín lhe lusl
quuilei ol IYl5. Accoidíng lo muikel eslímules,
Chínese lyie ímpoils giew l3S% lo 555,43S lyies ín
IYl5 loi lhe liuck iudíul segmenl und uccounled loi
ll% ol lhe lolul uvuíluhílíly ín lhe Indíun muikel.
Símíluily, lhe ímpoils loi lhe pussengei cui segmenl
weie up hy l0% lo l,4S0,044 uníls und now uccounls
loi 4.2% ol lhe Indíun muikel.
In leims ol iuw muleiíul, nuluiul iuhhei piíces iuled
lowei ín IYl5 due lo weuk demund liom mu[oi
consumíng hlocks such us BRICS, LU, ASLAN und
Jupun. 1he domeslíc iuhhei pioduclíon ín Indíu
conlínued lo lull shoil ol lhe demund und ímpoils ol
iuhhei liom ASLAN iegíon weie necessuiy lo ollsel
lhe shoillull ín domeslíc supplíes.
In oidei lo ensuie long·leim susluínuhílíly ol íls
nuluiul iuhhei supply chuín, lhe compuny suppoiled
lhe Keiulu Goveinmenl scheme ol souicíng domeslíc
iuhhei ul 20% híghei lhun ínleinulíonul piíces.
Gíven weukness ín oíl piíces, synlhelíc iuhhei piíces
iemuíned suhdued ín lhe líscul. Olhei ciude hused
iuw muleiíuls such us cuihon hluck díspluyed u
símílui liend.
In IYl5, lhe Luiopeun pussengei vehícle lyie sules ín
ieplucemenl muikel hus iemuíned llul us pei dulu
Apo||o 1yrcs´ promor|ona| rour jor |rs |nJusrr|a| ryrcs across 8 counrr|cs |n luropc
ANNUAL PEPDPT 20I4-I5 2I 20 APDLLD TYPES LTD
liom lhe Indusliy Assocíulíon ín Luiope. 1he giowlh
loi ulmosl ull segmenls hus iemuíned llul wílh un
exceplíon ol ¯% giowlh ín lhe SUV lyies segemenl.
In pussengei vehícle lyie culegoiy, lheie weie some
sígns ol iecoveiy evídenl ín muikels such us Hunguiy,
Iiunce, Spuín, Swílzeilund L Noidícs, whíle counliíes
líke Geimuny, Nelheilunds, Belgíum, UK L Ausliíu,
Folund sluyed longei on u descendíng slope. 1he
ugiículluiul lyie muikel showed u negulíve giowlh
ín IYl5.
1he hegínníng ol lhe new yeui 20l5 hioughl míxed
iesulls loi lhe Luiopeun lyie índusliy. 1he ull seuson
lyie muikel ís gellíng moie muluie und lhe iecenl
ínlioduclíon ol such pioducls hy unolhei mu[oi lyie
pluyei only conlíims lhe giowíng ímpoilunce ol ull
seuson lyies ín Luiope. Iuilhei, lhe ínlioduclíon ol
1FMS í1yie Fiessuie Moníloiíng Syslem!, munduloiy
ín new cuis liom Novemhei 20l4 onwuid, pushes
Luiopeun consumeis lo use ull seuson lyies us
lyie chunges helween summei und wínlei ís expecled
lo hecome líme consumíng und cosllíei due lo lhe
1FMS legíslulíon.
1he olhei híg liend ís lhe giowíng ímpucl ol lhe
ínleinel, holh on B2B us well us on B2C. Inílíulíves ín
B2C uie lo hiíng pioducls und end·consumeis
logelhei und pushíng lhe ieluíl husíness ínlo u moie
seivíce mínded uppiouch.
Líke Indíu, Luiope ís wílnessíng lhe giowlh ol low
cosl non·Luiopeun ímpoiled hiunds. Whíle lhe
ínlioduclíon ol lhe Luiopeun lyie luhel ín Novemhei
20l2 hus loiced muny ímpoiled hiunds lo ínvesl ín
ímpioved quulíly, lhe Luiopeun lyie lundscupe ís
chungíng veiy quíckly.
In leims ol iuw muleiíul, piíces iemuíned soll duiíng
lhe yeui wílh luilhei declíne duiíng second hull ol lhe
línuncíul yeui. Howevei, lhese henelíls weie pussed
on lo lhe muikel wílh lowei sules piíces due lo u
híghly compelílíve muikel síluulíon.
SWO1 ANALYSIS
Strengths
l. Apollo 1yies hus lhe udvunluge ol u díveisílíed
muikel huse ucioss geogiuphíes und ís
lheieloie, nol dependenl on u síngle domeslíc
muikel. Iuilheimoie, lhe compuny ís woikíng
lo esluhlísh und giow opeiulíons ín olhei luige
ínleinulíonul muikels us well.
2. 1he compuny ís poweied hy sliong glohul
pioducl hiunds ín íls muikels - Apollo und
Viedesleín.
3. Apollo 1yies en[oys un exlensíve dísliíhulíon
nelwoik loi íls key hiunds ucioss íls key home
muikels.
4. In Luiope, lhe compuny´s hiund 'Viedesleín´
hus un esluhlíshed piesence und en[oys
piemíum posílíoníng ín ulliu hígh peiloimunce
íUHF!, wínlei und ull seuson pussengei cui lyie
segmenls.
5. 1he compuny ís u leudíng pluyei ín lhe Indíun
commeicíul vehícle segmenl - whích uccounls
loi lhe hulk ol lhe índusliy´s ievenue. Sínce lhe
compuny ussumed un euily leud, Apollo ís hesl
posílíoned lo muínluín íls leudeishíp posílíon ín
lhe liuck·hus iudíul segmenl und diíve giowlh
lhiough lhe sume.
6. Glohul und culluiully díveisílíed munugemenl
leum diívíng giowlh ucioss geogiuphíes.
¯. 1he piesence ol modein Reseuich L
Ievelopmenl lucílílíes loi pussengei und
commeicíul vehícle lyies wíll pluy u key iole ín
hiíngíng cullíng·edge lechnology und
ínnovulíon lo diíve giowlh loi lhe compuny.
S. Incieused spends on coipoiule hiund íncludíng
Apollo 1yies´ ussocíulíon wílh Muncheslei
Uníled ís sluilíng lo muke Apollo u glohully
iecognísed hiund.
Weaknesses
l. Indíu hus u luige und giowíng 2·3 wheelei lyie
segmenl . Howevei, Apol l o does nol
munulucluie lyies loi lhís culegoiy und hus
conlínued lo locus on olhei pioducl segmenls.
2. Al límes ín lhe pusl, lhe compuny hus heen
unuhle lo límely puss on iuw muleiíul cosl
escululíons lo consumeis, due lo ínlense
compelílíon und vuiíous muikel dynumícs. 1hís
hus u díiecl ímpucl on lhe muigíns.
3. 1he compuny ís cuiienlly nol piesenl ín lhe
Luiopeun OLM muikel loi iegului pussengei
cui lyies whích lo u ceiluín exlenl diíves lhe
ieplucemenl muikel sules.
Opportunities
l. In Indíu, Apollo 1yies en[oys euily movei
udvunluge ín lhe liuck·hus iudíul segmenl und
hus u heullhy leud ovei íls compelílíon ín leims
ol cupucíly und muikel shuie. 1hís ímplíes
heullhy giowlh piospecls wílh íncieusíng
iudíulísulíon.
2. 1he compuny´s Apollo hiunded pussengei
vehícle lyies uie heíng sold ín Luiope und lhís
could develop ínlo u sízuhle muikel loi lhe
sume, leveiugíng íls ulieudy exíslíng nelwoik ín
Luiope.
3. Wílh lhe unnouncemenl ol Apollo´s Gieenlíeld
plunl ín Hunguiy, lhe compuny ís posílíoned lo
giow ín lhe Luiopeun muikel lhiough un udded
cosl compelílíve munulucluiíng lucílíly.
launcl oj rlc 'qo rlc J|srancc' p|rcl ar 0|J 1rajjorJ
ANNUAL PEPDPT 20I4-I5 23 22 APDLLD TYPES LTD
4. 1he compuny conlínues lo íncieuse íls locus lo
new geogiuphíes líke Soulh Ameiícu, Míddle
Lusl und Soulh Lusl Asíu. 1hese would he
giowlh uvenues loi lhe luluie.
5. 1he compuny cun conveil excess híus cupucíly
ínlo índusliíul lyies cupucíly und lup ínlo u new
pioducl segmenl.
6. 1he compuny ís lulkíng lo uulo mu[ois loi OLM
lílmenls ín Luiope. 1hís would esluhlísh lhe
hiund even moie sliongly und diíve sígnílícunl
giowlh ín Luiopeun muikel.
¯. 1he compuny would look lo ínlioduce
pioducls und muke un enliy ínlo lhe Luiopeun
1iuck, Bus L OH1 segmenls.
Threats
l. Lconomíc downluin oi slowdown ín lhe key
muikels - Luiope und Indíu - cun leud lo
decieused volumes und cupucíly ulílísulíon.
2. Incieused compelílíon liom glohul pluyeis líke
Míchelín, Biídgeslone, Conlínenlul ín Indíu.
3. Incieused compelílíon liom liuck iudíul ímpoils
liom Chínu iesullíng ín u quíckei lhun expecled
declíne ín volumes wílhín lhe liuck·hus cioss
ply segmenl, cieulíng iedundunl cupucílíes
iequíiíng ínveslmenl lo conveil ínlo olhei
pioducl segmenls.
4. Conlínued lhieul ol iuw muleiíul piíce volulílíly
liunslulíng ínlo piessuie on muigíns duiíng u
iupíd iíse ín iuw muleiíul piíces.
5. Weuk cuiiency iesullíng ín piessuie on
muigíns, sínce lhe compuny ís u nel ímpoilei.
6. Giowíng ínlluence ol hudgel lyies, muínly líei 2
und 3 hiunds liom esluhlíshed Luiopeun
munulucluieis us well us Chínese und Koieun
ímpoils.
SLGMLN1 WISL FLRIORMANCL
Apollo 1yies ís dívíded ínlo lwo key iegíons · Asíu
Fucílíc Míddle Lusl und Aliícu íAFMLA! und Luiope
und Ameiícus íLA!.
Ioi Apollo 1yies´ AFMLA opeiulíons, íl wus u yeui ol
consolídulíng íls leudeishíp posílíon ín Indíu,
expundíng lhe pioducl poillolío ín exíslíng AFMLA
muikels und pushíng ínlo new muikels ín lhe iegíon.
Ioi lhe AFMLA opeiulíons, íl wus u yeui ol pioducl
ínnovulíons und luunches. 1he yeui hegun wílh lhe
luunch ol Indíu´s luigesl loudei lyie ul lhe IMML
20l4. 1he compuny ulso ínlioduced lhe AL1 lSS 1L
lyie whích hud lhe índusliy´s líisl liuclíon lieud
desígn. Il luilhei led íls pioducl expunsíon sliulegy
hy ínlioducíng Apollo 1yies und Muncheslei Uníled
co·hiunded lyies luunched ín 1huílund. Allei lhe UK
muikel, 1huílund wus lhe líisl counliy lo huve lhe
Apollo·Muncheslei Uníled co·hiunded lyies ín Asíu.
1he iegíon ulso leveiuged Apollo´s glohul RLI skílls
lo luunch u new cioss ply lechnology hused lyie,
AWR·HI wílh lhe Apollo HII lechnology, loi lhe
Indonesíun muikel. 1hís lyie wus specílícully
engíneeied loi lhe Indonesíun muikel hused on u
deluíled muikel sludy hy Apollo´s pioducl und RLI
leums on lhe upplículíon ol commeicíul vehícles ín
lhís counliy. 1he híghei hoisepowei vehícles used
Apo||o 1yrcs |nrroJuccJ rlc ncxr qcncrar|on cross p|y ryrcs |n rlc lnJoncs|an mar|cr w|rl Apo||o lll rcclno|oqy
loi shoil und long huul upplículíons on iouds, whích
uie moie lhun 50% unpuved, huve u uníque
iequíiemenl liom lheíi lyies, low ínllulíon piessuies
loi heuvy loud upplículíons.
1o consolídule íls leudeishíp posílíon ín Indíu und
ollei ínnovulíve und 360 degiee solulíons lo
cuslomeis, lhe AFMLA opeiulíons hus sluiled lo
locus on lhe ielieudíng husíness ín lhe counliy. As
iudíulísulíon mukes deep íniouds ínlo lhe commeicíul
secloi, lheie exísls u huge oppoiluníly lo lup lhe
giowíng ielieudíng muikel. Whíle lhe unoigunísed
pluyeis culei lo lhe cuiienl muikel iequíiemenls,
cuslomeis uie íncieusíng lookíng loi ielieud
solulíons liom lyie munulucluieis. 1he compuny
pluns lo open 20 hiunded ielieud oullels hy lhe end ol
lhe cuiienl líscul yeui.
Iuilheiíng íls sliulegy ol huíldíng híghei vísíhílíly ín
íls muikels oulsíde Indíu, lhe AFMLA opeiulíons
opened íls líisl Apollo Zone ín Kuwuíl. 1he oullel ís
desígned lo piovíde cuslomeis wílh un enhunced
ieluíl expeiíence loi lhe hiund und pioducls
díspluyed.
Gíven lhe ímpoilunce ol huíldíng u sliong hiund, lhe
compuny expunded íls sponsoishíp ugieemenl wílh
Muncheslei Uníled lo covei muny muikels ín lhe
AFMLA iegíon. In Indíu, íl conlínued lo iump íls
hiundíng piesence wílh u hígh·decíhel hiund
cumpuígn - Feiloimunce: 1heie uie no Shoilculs -
duiíng lhe yeui.
1he Compuny´s mullí·pioducl sliulegy, suppoiled hy
íls lwo·hiund sliulegy, hus helped lhe iegíon lo cioss
sígnílícunl míleslones. In Indíu, Apollo 1yies hecume
lhe líisl compuny lo cioss lhe l00,000 1iuck Bus
Rudíul í1BR! monlhly sules ín Muich 20l5.
1he sliulegy on ínveslíng ín lhe iudíul lechnology ís
puyíng dívídends us lhe compuny giew ul u heullhy
clíp ol 30.S%. 1he 1BR expoils sloiy wus no dílleienl
loi lhe compuny us íl giew hy 53%. Whíle lhe 1iuck
Bus Bíus í1BB! suw lhe expecled declíne, lhe AFMLA
opeiulíons´ sliulegy ol lookíng ul new muikels puíd
dívídend us expoils ín lhe segmenl giew hy l4%. In
lhe ieplucemenl pussengei cui segmenl, lhe
opeiulíons suw lepíd giowlh hul lhís wus slíghlly
ollsel hy lhe híghei lhun índusliy giowlh ín lhe OL
segmenl us lhe opeiulíons íncieused íls muikel shuie
ín lhe OL segmenl lo 2l%.
1he LA opeiulíons munuged ull odds íncludíng slow
muikel demund, ínllux ol low cosl pioducls und lowei
sules piíces lo muigínully exceed lhe nel sules ín
IYl5 ín Luio leims. 1he opeiulíons uccounls loi 2S%
ol Apollo 1yies´ consolíduled ievenue. In leims ol
volume, pussengei cui lyie sules giew hy 4%, spuie
lyies sules giew hy l2% und ugiículluie lyies sules
giew muigínully hy 2%. 1he opeiulíons guíned
muikel shuie ín Agiículluiul lyie und suw u muigínul
iíse ín pussengei cui lyie culegoiy. 1he opeiulíons´
sliulegy ol locusíng on ull seuson und SUV lyies hud
helped íl ieduce dependence on lhe wínlei lyies sold
duiíng lhe cold monlhs. 1he conlínuíng wuim spells
id
ín Luiope loi lhe 3 yeui ín u iow díd ímpucl lhe
wínlei lyie sules, hul íl hus heen compensuled wílh
ANNUAL PEPDPT 20I4-I5 25 24 APDLLD TYPES LTD
sliong giowlh ol ull seuson und SUV lyies.
1he LA opeiulíons hegun lhe yeui wílh lhe
unnouncemenl ol lhe Apollo Alnuc 4G - All Seuson und
Wínlei lyies. 1he lwo new lyies expunded lhe exíslíng
poillolío ol lhe Apollo hiund ín Luiope. Coupled wílh
lhe Viedesleín hiund, lhe LA opeiulíons olleied u
complele iunge ol lyies culeiíng lo dílleienl
segmenls. 1hís wus lollowed hy lhe luunch ol
Viedesleín Quuliuc 5 und Snowliuc 5 lyies luunch ín
Scollund. 1he Viedesleín Quuliuc 5 ís u complelely
new geneiulíon ol loui·seuson lyies. 1he wínlei lyie
Viedesleín Snowliuc 5 hus heen desígned und
munulucluied lo hundle lhe mosl exlieme und
unpiedícluhle weulhei condílíons, íncludíng wel, cold
oi slíppeiy iouds. 1o luilhei enguge wílh lhe
consumeis und cieule híghei vísíhílíly ol lhe Apollo
hiund, lhe opeiulíons emhuiked on u síx·monlh
piomolíonul loui ucioss S counliíes ín Luiope lo
ínlioduce íls lull iunge ol Apollo hiunded índusliíul
lyies lo end useis und lyie specíulísls. Acioss lhe yeui,
new sízes ín Viedesleín ugiículluiul und Apollo
índusliíul lyies hecume uvuíluhle, íncludíng lhe
luunch ol Viedesleín Lnduiíon und Viedesleín
1iuxíon Veisu ul lhe SIMA ín Fuiís, Iehiuuiy 20l5.
Iuiíng lhe míd ol 20l4, lhe LA opeiulíons ínílíuled u
ioud show und vísíled consliuclíon und ienlul
compuníes, lyie und muchíne deuleis lo cieule und
íncieuse lhe hiund uwuieness loi Apollo 1yies.
Gíven lhe íncieuse usuge on socíul medíu ucioss lhe
glohe, even loi huyíng pioducls líke lyies, lhe LA
opeiulíons locussed on lhe onlíne spuce und now hus
u sliong piesence on socíul medíu. Also, un L·
commeice plulloim wus luunched lusl yeui whích wíll
he iolled oul und used hy ull counlíies undei lhe LA
opeiulíons.
As holh lhe opeiulíons ielíed heuvíly on
undeislundíng lhe consumei iequíiemenls und
leveiugíng on íls RLI skílls lo develop und
munulucluie pioducls, vuiíous lesl iesulls ín Luiope
weie u leslímony lo lhe success ol lhís sliulegy. 1he
Viedesleín Spoiliuc 5 und Viedesleín Ulliuc Voilí
weie iuled híghly ín vuiíous índependenl Luiopeun
lyie lesls, pínpoínlíng lhe excellenl iesulls on diy
hundlíng, low sound levels und lowei luel
consumplíon.
1he LA opeiulíons won lhe '1íie Munulucluiíng
Innovulíon ol lhe Yeui´· un uwuid loi íls lundem míxei
ínuuguiuled ín 20l4
OU1LOOK
1he glohul economíc giowlh loi IYl6 wíll conlínue lo
he u míxed hug. Accoidíng lo eslímules, lhe glohul
giowlh ís expecled lo iíse modeiulely lo 3.0% ín
20l5, und uveiuge uhoul 3.3% lhiough 20l¯.
Howevei, ull eyes wíll he locussed on Indíu.
Accoidíng lo loiecusls hy ínleinulíonul ugencíes
íncludíng Woild Bunk und Inleinulíonul Moneluiy
Iund, Indíu ís sel lo emeige us lhe woild´s luslesl
\rcJcsrc|n l|rrac \orr|
giowíng economy ín 20l5, oveilukíng neíghhouiíng
Chínu und wídeníng lhe gup luilhei ín 20l6.
1he cuiienl goveinmenl ín Indíu ís lookíng ul
uddiessíng sliucluiul und supply·síde consliuínls
whích wíll gíve u híg ímpelus lo lhe ínveslmenl
uclívílíes ín lhe counliy. Coupled wílh sliong puhlíc
und piívule consumplíon, Indíu conlínues lo he u
hiíghl spol ín lhe glohul lundscupe. 1he sliong
giowlh, lowei exleinul vulneiuhílílíes, híghei
dísposuhle íncome wíll he u hoosl lo lhe uulo
segmenl. 1he sules ín lhe hegínníng ol lhe IYl6
poínls lo u susluíned momenlum und lhe secloi cun
emeige us lhe showsloppei loi lhe Indíun economy.
We expecl lhul lhe hullíshness wíll hiíng huck lhe
demund liom lhe OL segmenl. We hope lhe oplímísm
ín lhe uulo índusliy ís liunsluled us sules ín lhe lyie
índusliy.
Líkewíse, lheie ís un uíi ol oplímísm ucioss Luiope. Il
ís loi lhe líisl líme sínce 200¯ lhul lhe economíes
ucioss Luiope uie expecled lo giow uguín. As pei lhe
Luiopeun Commíssíon´s wínlei loiecusl, giowlh ín
CYl5 ís loiecusled lo iíse lo l.¯% loi lhe LU us u
whole und lo l.3% loi lhe Luio uieu. 1he giowlh ís
expecled lo ínch up luilhei ín CYl6 lo 2.l% und
l.º% iespeclívely, on lhe huck ol slienglhened
domeslíc und loieígn demund, veiy uccommodulíve
moneluiy polícy und u hioudly neuliul líscul slunce.
Iuilhei, lowei oíl piíces wíll hoosl ieul household
íncome pullíng moie dísposuhle íncome wílh
consumeis und iesull ín íncieused spendíng
ucceleiulíng lhe giowlh.
Iespíle unolhei yeui ol llul muikel loiecusl hy lhe
índusliy ussocíulíon, oullook loi LA opeiulíons
iemuíns posílíve. 1he muín diíveis loi giowlh wíll he
luilhei expunsíon und piomolíon ol Apollo hiund ín
ull lhe counliíes ín Luiope us well us new pioducls
ínlioduclíon. 1he Viedesleín hiund hus muínluíned
íls posílíon umongsl lhe piemíum hiund und ís well
posílíoned lo luilhei guín muikel shuie ín Luiope.
Sules sliulegy loi lhe comíng yeui wíll locus on
dísliíhulíon nelwoik expunsíon, pioducl iunge
enhuncemenl und consumei muikelíng.
1o suppoil lhe long leim giowlh pluns, lhe compuny
wíll he mukíng sígnílícunl ínveslmenls ín ull íls plunls
ucioss holh lhe iegíons. Gíven lhe locus on OL ín
Luiope, ínveslmenl wíll he mude lo piepuie lhe
Lnschede plunl loi supplíes lo cui munulucluieis und
expund lhe cupucíly ol spuie lyie pioduclíon. 1he
compuny hus ulso undeiluken u mu[oi pio[ecl lo
ímplemenl SAF LRF syslem ucioss ull lhe Luiopeun
opeiulíons coveiíng ull lhe lunclíonul uieus. SAF
ímplemenlulíon wíll hiíng ellícíency ímpiovemenl hy
elímínulíng duplícule uclívílíes, ímpiove ínleinul
conliol, enuhle luslei decísíon mukíng und shuie hesl
piuclíces.
RISKS ANI CONCLRNS
1he ímpucl ol lhe key iísks und oppoilunílíes lísled
helow hus heen ídenlílíed lhiough u loimul piocess
diíven hy Apollo´s Rísk Munugemenl Sleeiíng
Commíllees. 1he compuny´s uppiouch hus ullowed
loi u syslemulíc uppiuísul ol lhe husíness
envíionmenl íl opeiules ín und u iesponse uímed ul
cupílulísíng und muxímísíng henelíls loi ull íls
opeiulíons.
launcl oj Snowrrac 5 ryrcs |n lJ|nburql, Scor|anJ
ANNUAL PEPDPT 20I4-I5 27 26 APDLLD TYPES LTD
FINANCIALS
l. Ruw muleiíul piíce volulílíly
u. Nuluiul iuhhei ís un ugiículluiul commodíly
und suh[ecl lo piíce volulílíly und
pioduclíon conceins.
h. Mosl olhei iuw muleiíuls uie ciude línked
und uie ullecled hy lhe movemenl ín ciude
piíces. Any íncieuse ín ciude oíl piíces muy
ímpucl piíces ol some ol lhe iuw muleiíuls.
c. Bolh nuluiul iuhhei und ciude piíces uie
conliolled hy exleinul envíionmenl und
líllle cun he done lo conliol lhe iuw muleiíul
piíce movemenl ínleinully.
2. Ahílíly lo puss on íncieusíng cosl ín u límely
munnei
u. Iemund supply síluulíon musl iemuín ín
luvoui ol lhe índusliy lo enuhle íl lo
undeiluke piíce íncieuses.
h. 1hís ís luilhei ímpucled hy compelílíve
uclívílíes und u geneiul ieluclunce us seen ín
lhe pusl, puilículuily ín Indíu, lo muke quíck
und sígnílícunl piíce híkes.
3. Conlínued economíc giowlh
u. Iemund ín lhe lyie índusliy ís dependenl on
economíc giowlh und/oi ínliusliucluie
developmenl. Any slowdown ín lhe
economíc giowlh ucioss iegíons ímpucls
lhe índusliy loilunes.
h. In Luiope, lhe compuny´s wínlei lyie sules
uie suh[ecl lo seusonul iequíiemenls, whích
cun he udveisely ímpucled ín cuse ol u míld
wínlei seuson.
4. Rudíulísulíon levels ín Indíu
u. Slowei íncieuse ín iudíulísulíon level ín
liuck lyie segmenl, lhun expecled, muy
ímpucl Indíun opeiulíons. Lxcess cupucíly
muy iesull ín compelílíve piessuies und
declíne ín piolíl.
h. Al lhe sume líme, un unexpecled quíckei
íncieuse ín lhe level ol iudíulísulíon cun
iesull ín luslei iedunduncy ol cioss ply
cupucílíes und cieule u need loi liesh
ínveslmenls.
5. Iuluie Giowlh
u. Lowei piolíluhílíly due lo some ol lhe uhove
luclois ímpucls lhe uhílíly lo ínvesl ín luluie
giowlh
h. Incieused compelílíon liom glohul pluyeis
líke Míchelín, Biídgeslone und Conlínenlul
ín Indíu.
SOCIAL
6. Munpowei ielenlíon
u. Reluíníng skílled peisonnel muy hecome
íncieusíngly díllícull ín Indíu, due lo lhe
enliy ol glohul mu[ois ín lhe Indíun lyie
índusliy.
¯. Luhoui uclívísm
u. Incieused luhoui uclívísm ucioss Indíu muy
pose chullenge loi uny munulucluiíng
oigunísulíon.
IN1LRNAL CON1ROLS ANI SYS1LMS
Apollo 1yies hus u iohusl Inleinul Conliol liumewoik,
whích hus heen ínslíluled consídeiíng lhe nuluie, síze
und iísk ín lhe husíness. 1he liumewoik compiíses,
ínlei ulíu, ol u well·delíned oigunísulíon sliucluie,
ioles und iesponsíhílílíes, documenled polícíes und
pioceduies, elc. Inloimulíon 1echnology polícíes und
piocesses weie ulso upduled lo ensuie lhul lhey
sulísly lhe cuiienl husíness needs. 1hís ís
complemenled hy u munugemenl ínloimulíon und
moníloiíng syslem, whích ensuies complíunce lo
ínleinul piocesses, us well us wílh upplícuhle luws und
iegululíons. 1he opeiulíng munugemenl ís nol only
iesponsíhle loi ievenue und piolíluhílíly, hul ulso loi
muínluíníng línuncíul díscíplíne und hygíene.
In oidei lo ensuie ellícíenl Inleinul Conliol syslems,
lhe compuny ulso hus u well esluhlíshed índependenl
ín·house Inleinul Audíl lunclíon lhul ís iesponsíhle
loi piovídíng ussuiunce on complíunce wílh
opeiulíng syslems, ínleinul polícíes und legul
iequíiemenls, us well us, suggeslíng ímpiovemenls
lo syslems und piocesses. 1he lunclíon hus u well luíd
down ínleinul uudíl melhodology, whích emphusíse
on iísk hused ínleinul uudíls usíng dulu unulylícs und
lools.
1he Inleinul Audíl piepuies u iollíng unnuul ínleinul
uudíl plun, compiísíng ol opeiulíonul, línuncíul,
complíunce und ínloimulíon syslems uudíls, coveiíng
ull lhe loculíons, opeiulíons und geogiuphíes ol lhe
compuny. 1he uudíl plun loi lhe yeui ís ievíewed und
uppioved hy lhe Audíl Commíllee ul lhe hegínníng ol
euch línuncíul yeui.
1he Inleinul Audíl iepoils on quuileily husís lo lhe
Audíl Commíllee, lhe key ínleinul uudíl líndíngs, und
uclíon plun ugieed wílh lhe munugemenl, lhe slulus
ol uudíls vís·u·vís lhe uppioved unnuul uudíl plun und
slulus ol open uudíl íssues.
IISCUSSION ON IINANCIAL
FLRIORMANCL WI1H RLSFLC1 1O
OFLRA1IONAL FLRIORMANCL
1he línuncíul slulemenls huve heen piepuied ín
uccoidunce wílh lhe iequíiemenl ol lhe Compuníes
Acl 20l3, und upplícuhle uccounlíng slunduids
íssued hy lhe Inslílule ol Chuileied Accounlunls ol
Indíu. 1he munugemenl ol Apollo 1yies uccepls lhe
ínlegiíly und oh[eclívíly ol lhese línuncíul slulemenls
us well us lhe vuiíous eslímules und [udgemenls used
ANNUAL PEPDPT 20I4-I5 29 28 APDLLD TYPES LTD
Yeui Lnded Yeui Lnded
Sl. Fuilículuis 3l.3.20l5 3l.3.20l4 3l.3.20l5 3l.3.20l4
Slundulone Consolíduled
l. Revenue liom Opeiulíons:
Gioss Sules ºS,¯¯3 º5,Sº3 l3¯,24¯ l42,Sº5
Less: Lxcíse Iuly º,ºº0 º,¯º2 º,ºº0 º,¯º2
Nel Sules SS,¯S3 S6,l0l l2¯,25¯ l33,l03
2. Olhei Income º¯l l,S0º l,l33 l,ºº5
1olul Sº,¯54 S¯,ºl0 l2S,3º0 l35,0ºS
3. 1olul Lxpendíluie
u! Iecieuse/íIncieuse! ín Iíníshed Goods L lº¯ íl,l5S! S¯5 í3ll!
Woik ín Fiocess
h! Consumplíon ol Ruw Muleiíuls/Fuichuse 56,4ºº 5º,¯46 6º,¯53 ¯S,03l
ol Slock ín 1iude
c! Lmployee Benelíls Lxpense 5,45l 4,533 l6,0¯0 l5,Sl2
d! Olhei Lxpenses l4,0¯6 l3,00S 2l,S4S 2l,S32
1olul ¯6,223 ¯6,l2º l0S,546 ll5,364
4. Opeiulíng Fiolíl l3,53l ll,¯Sl lº,S44 lº,¯34
5. Iínunce Cosls l,¯2l 2,446 l,S2S 2,S3S
6. Iepiecíulíon L Amoilísulíon 2,46S 2,4S0 3,SS3 4,l0º
¯. Fiolíl heloie Lxceplíonul Ilems L 1ux º,342 6,S55 l4,l33 l2,¯S¯
S. Lxceplíonul Ilems · ¯ll S25 46S
º. Fiolíl Allei Lxceplíonul Ilems L Beloie 1ux º,342 6,l44 l3,30S l2,3lº
l0. Fiovísíon loi 1ux
· Cuiienl 2,545 l,32¯ 3,535 l,º42
· Ieleiied 346 3ºl í3! 326
1olul 2,Sºl l,¯lS 3,532 2,26S
ll. Fiolíl ullei 1ux 6,45l 4,426 º,¯¯6 l0,05l
l2. Shuie ol Loss ín Assocíules/Inleiesl · · · ·
l3. Nel Fiolíl 6,45l 4,426 º,¯¯6 l0,05l
M||||on
lheieín. 1he eslímules und [udgmenl ielulíng lo lhe
línuncíul slulemenls huve heen mude on u piudenl
und ieusonuhle husís, ín oidei lhul lhe línuncíul
slulemenls uie iellecled ín u liue und luíi munnei und
ulso ieusonuhly piesenl lhe compuny´s slule ol ulluíis
und piolíl loi lhe yeui.
ILVLLOFMLN1 IN HUMAN
RLSOURCLS L INIUS1RIAL
RLLA1IONS
One ol lhe key elemenls ol Apollo 1yies´ sliulegy ís
piolíluhle giowlh. 1he oigunísulíon knows lhul
piolíluhle giowlh ís solely dependenl on íls
employees´ peiloimunce ín díveise uieus íncludíng
sules, muikelíng, RLI, munulucluiíng, logíslícs und
ucioss eveiy lunclíon ín lhe oigunísulíon. 1he
compuny hus conlínuously endeuvouied lo huíld u
hígh peiloimunce culluie und lhe Humun Resouices
lunclíon pluys u key iole ín enuhlíng lhís. 1he HR ul
Apollo 1yies hus ulwuys iemuíned u sliulegíc puilnei
ín lhe giowlh und glohulísulíon [ouiney ol lhe
compuny.
Hunguiy, 1huílund, London, Biuzíl... us Apollo 1yies
moves ín new geogiuphíes, HR hus evolved ílsell ínlo
u glohul lunclíon iesponsíhle loi ull HR uclívílíes
ucioss geogiuphíes und ís complelely ulígned wílh
husíness iequíiemenls.
Ioi HR, lhe pievíous líscul yeui wus u yeui ol chunge
und consolídulíon. 1he yeui suw u chunge ín HR
leudeishíp wílh Muilhu Iesmond [oíníng ín us lhe
Chíel Humun Resouices Ollícei. Bused oul ol
0n|ar S lanwar anJ Nccraj lanwar w|rl \||ror 0rbJn, Ir|mc M|n|srcr oj lunqary
Jur|nq rlc jounJar|on sronc |ay|nq ccrcmony lc|J |n lunqary
London, Muilhu hus u iích glohul exposuie ín ull
uspecls ol HR íncludíng Glohul 1ulenl Munugemenl,
1olul Rewuids und Glohul Mohílíly.
In oidei lo luilhei uugmenl Apollo´s lusl puced
giowlh [ouiney, seveiul key new posílíons weie
cieuled woildwíde. 1o homogeníse lhe compuny´s
munulucluiíng slunduids woildwíde, lhe Chíel
Munulucluiíng Ollícei [oíned Apollo 1yies. Quulíly
hus ulwuys heen un epícenlie ol oui pioducl
dílleienlíulíon. 1o speuiheud lhe Glohul Quulíly
Slunduids [ouiney, u Chíel Quulíly Ollícei ulso cume
onhouid. 1echnology wíll he lhe key dílleienlíuloi ín
oulpucíng oui compelílois. Iocussíng on lhís piíoiíly,
Apollo welcomed u Chíel 1echnology Ollícei lo lhe
compuny.
As lhe glohul loolpiínl ol Apollo 1yies hus íncieused
sígnílícunlly, so hus lhe glohul movemenl ol íls
people. Glohul mohílíly ol employees ís enuhlíng
lhem uchíeve lheíi cuieei und peisonul uspíiulíon ol
developmenl und giowlh und enhuncíng lhe
compuny´s vulue pioposílíon. 1he HR depuilmenl,
lheiehy, hus hecome u lulcium piopellíng people
developmenl und [oh eniíchmenl. Chumpíoníng lhe
cuuse ol employees, íl ís HR´s endeuvoui lo euse
ieselllemenl und ieduce chullenges ín lhe movemenl,
so lhul employees uie ieudy lo luke on lheíi enhunced
iesponsíhílílíes glohully.
In líne wílh lhís phílosophy, lhe Hunguiy Gieenlíeld
pio[ecl led lo lhe ieloculíon ol l¯ employees wílh
lheíi lumílíes. HR developed lhe glohul mohílíly
polícy lo ussísl lhe ieloculíon piocess. Gíven lhe
ANNUAL PEPDPT 20I4-I5 3I 30 APDLLD TYPES LTD
nuluie ol lhe husíness, lhe índusliy hus seen low
gendei díveisíly. Howevei, lhe compuny´s ielieshed
híiíng piuclíces und glohul polícíes huve led lo u
gieulei gendei míx. Iuilhei, ulong wílh lhe hesl·ín·
cluss polícíes und piuclíces, gieulei emphusís on
compelency piolílíng ol euch cundídule hus ensuied
gellíng lhe iíghl peison loi lhe iíghl [oh.
HR conlínued woik on íls on·houidíng piogium. 1he
compuny´s oiíenlulíon piocess hus liíed und lesled
elemenls iungíng liom cieulíng uwuieness uhoul lhe
compuny´s culluie und key piocesses, u menloiíng
piogium lo hundhold new employees und on [oh
liuíníng. All lhese ensuie lhul new employees uie
liuíned und equípped wílh lhe necessuiy skílls ·
culluiul und lechnícul, iequíied lo peiloim lhe [oh ul
lhe desíied level.
In leims ol losleiíng gieulei leum spíiíl und
cohesíveness umongsl lhe seníoi leudeishíp und lheíi
lumílíes, lhe compuny oigunísed lhe 'Apollo One
Iumíly´ evenl, u liíp lo lhe Uníled Kíngdo Símíluily,
lhe Luiopeun opeiulíons hud oigunísed íls Iumíly Iuy
evenl euily ín lhe pievíous líscul. On lhe duy,
employees ol lhe Luiopeun opeiulíons ínvíle lheíi
lumíly und show lhem lhe lucloiy. 1he LA opeiulíons
hud ulso oigunísed lhe 'Apollo Viedesleín lumíly duy´
ín lhe euily puil ol IYl5. Iuiíng lhís leslívíly, ovei
6000 employees und lheíi lumíly memheis vísíled lhe
Lnschede plunl.
Cupuhílíly huíldíng · lunclíonul und lechnícul,
conlínues lo he lhe locus uieu loi HR ul Apollo 1yies.
Munugeis liom lhe RLI lunclíon liom Luiope und
Indíu ullended lhe '1echnology Leudeishíp
Ievelopmenl´ piogium. 1he sume wus u locus uieu ul
lhe opeiulíons level. Bused on lhe success ol lhe
Cuslomei Cenliíc liuíníng ínílíulíves, lhe AFMLA
opeiulíons conducled piogiums líke 'Iucl Bused
Munugemenl 1iuíníng´, 'Cuslomei Seivíce 1iuíníng
ín ussocíulíon wílh Volvo´, elc. loi íls líeld sules leums.
1he opeiulíons ulso luilhei huíll on íls success ol lhe
'Slep·Up´ piogium loi íls [uníoi líeld slull whích hus
pioduced u iesponsíve cuslomei locused sules loice.
Líke lhe AFMLA opeiulíons, Apollo´s LA opeiulíons
hud seveiul liuíníngs und developmenl piogiummes
ul dílleienl levels wílhín lhe iegíon cenleied lo
enhunce piolessíonul und non·piolessíonul
compelencíes. One ol lhe piogiums wus locused
uiound liuíníng lhe leum ín enliepieneuishíp, quulíly
und cosls.
1he compuny´s euilíei locus on híiíng liesh
engíneeiíng giuduules sínce 200S hus now sluiled lo
puy iích dívídends loi lhe compuny wílh seveiul ol
lhese giuduules now puil ol lhe AFMLA opeiulíons´
míddle munugemenl huse und olheis movíng lo luke
Cc|cbrar|nq roqcrlcrncss. lmp|oyccs w|rl jam|||cs Jur|nq rlc Apo||o 0nc lam||y cvcnr ar Manclcsrcr
Apo||o 1yrcs lonourcJ as As|a's bcsr company ro wor| jor |n rlc Auro Componcnr |nJusrry by rlc Crcar I|acc ro Wor| lnsr|rurc
iesponsíhílílíes ucioss ínleinulíonul loculíons.
Apuil liom cieulíng lhe hesl lulenl, íl ís ímpoilunl lo
iecogníse lhem. Acioss Apollo und íls lwo key
opeiulíons, lheie uie enough oppoilunílíes lo
iecogníse und iewuid lhe hesl peiloimíng lulenls.
1he unnuul 'Lmployee ol lhe Yeui´ uwuid ís u key
ínílíulíve ín lhís díieclíon ul un oigunísulíon level. In
lhe pievíous líscul, lhe Indíun und Luiopeun
opeiulíons oigunísed lheíi iespeclíve 'Roll ol
Honoui´, wheie lhe hígh peiloimeis ol lhe yeui uie
honouied. 1he Luiopeun opeiulíons und lhe
Nelheilunds hused Apollo 1yies Glohul RLI selecled
eíghl wínneis who liuvelled lo Buicelonu us puil ol
lhe íncenlíve. 1he AFMLA opeiulíons ídenlílíed hígh
employees umong lhe [uníoi munugemenl slull
ucioss vuiíous loculíons ín Indíu und lhey weie
iewuided wílh u liíp lo Muluysíu und Lungkuwí
Islunds.
One ol lhe compuny´s coie vulues, 'One Iumíly´, ís
líved ucioss lhe oigunísulíon und íncludes lhe
uníonísed memheis ol lhe oigunísulíon. Led hy lhe
AMFLA opeiulíons´ HR leum, iegului ínleiuclíon
helween lhe munugemenl und uníons ensuied lhul
iel ul í ons iemuí ned conducí ve ucioss ul l
munulucluiíng lucílílíes. Long·leim selllemenl wus
compleled ín lhe Kulumusseiy plunl und lhe piocess
wíll he concluded soon ín lhe Límdu plunl. Iuilhei,
lhe compuny enguges wílh íls employees lhiough
mullíple chunnels íncludíng lown hulls, emuíls,
suggeslíon hox, ínliunel, elc. 1hese ínílíulíves help
lhe seníoi leudeishíp lo connecl wílh lhe employees
und ulso empowei lhe lullei.
All lhese ínílíulíves loslei u spíiíl ol ínclusíveness und
huve iesulled ín un enguged woikloice ul Apollo
1yies. 1he lucl hus heen ucknowledged hy exleinul
ugencíes. 1he compuny wus iecognísed us Indíu´s und
lhen Asíu´s hesl compuny lo woik loi ín lhe Aulo
Componenl culegoiy hy lhe Gieul Fluce lo Woik
oigunísulíon.
Susluínuhílíly und socíul iesponsíhílíly uie un
ínheienl componenl ol oui coipoiule sliulegy. Long
heloie lhe Goveinmenl sluiled mundulíng socíul
iesponsíhílíly, Apollo 1yies ídenlílíed lhe need lo
woik wílh slukeholdei communílíes lo slienglhen oui
honds wílh lhem und locus on 'conlínuously
enhuncíng slukeholdei vulue´. Oui CSR sliulegy
locuses on comhíníng coipoiule gouls wílh
developmenl gouls lheiehy oplímísíng scuice
exíslíng iesouices und enuhlíng ínclusíve giowlh.
Wílh lhís sliulegy, lhe compuny locus on uieus loi íls
ANNUAL PEPDPT 20I4-I5 33 32 APDLLD TYPES LTD
CSR ínílíulíves íncludíng heullh, envíionmenl und
communíly developmenl.
1he AFMLA opeiulíons conlínued íls long slundíng
CSR ínílíulíve on HIV/AIIS pievenlíon und uwuieness
loi liuck diíveis ín Indíu. 1he heullh piogiumme spuns
ucioss 25 loculíons ucioss lhe counliy. 1he
piogiumme ieuched oul lo ovei 4l5,643 people
lhiough one·lo·one und one·lo·gioup uwuieness
sessíons und peei educuled uclívílíes. Moie lhun
54,l6S people weie lieuled oul ol whích 3,305
liuckeis weie lieuled loi sexuully liunsmílled
ínleclíon und ovei 3º,ºº0 people counselled loi HIV·
AIIS.
1he piogiumme, oiígínully desígned loi lhe liuckei
communíly lo piomole uwuieness on HIV, wus
exlended lo covei olhei heullh ieluled íssues. A pílol
pio[ecl on vísíon coiieclíon wus oigunísed loi lhe
cuslomeis.
Wílh lhe heullh piogiummes líimly esluhlíshed, lhe
AFMLA opeiulíons hud heen locussíng on
envíionmenlul conveisulíon und communíly
developmenl pio[ecls undei lhe expunded CSR scope.
1he shíll ís evídenl ín lhe spendíng. 1he opeiulíons
hus spenl 42% ol íls lolul CSR hudgel ín IYl5
on lhese lwo uieus, up liom [usl l5% ín IYl3.
On lhe envíionmenl lionl, CSR hus ulieudy ínílíuled
pio[ecls ín dílleienl cílíes ol Indíu on wusle
munugemenl, ulloieslulíon und emíssíon ieduclíon,
hí odí veisí ly enhuncemenl und wuleished
munugemenl. In líne wílh lhe Nulíonul Agendu ol
Swuch Bhuiul Ahhíyun, lhe Cleun My 1iunspoil
Nugui llugshíp pio[ecl ísluiled ín 20l2! hus
iecoveied ulmosl l6,000 kgs ol wusle ín u síngle yeui
liom Ielhí und Agiu 1iunspoil Nuguis iespeclívely,
olleiíng u cleunei und heullhíei woikpluce loi lhe
cuslomeis und deuleis.
In lhe pievíous líscul, AFMLA opeiulíons delíveied u
díveise iunge ol ínílíulíves ín communílíes liom
lívelíhood geneiulíon ílhiough voculíonul liuíníng
und skílls huíldíng! lo ímpiovíng susluínuhle
ugiículluie ílhiough ímpioved luimíng piuclíces und
líveslock munugemenl!. 1heie weie 34º unemployed
youlhs und women who weie piovíded liuíníng undei
'Fio[ecl U´, loi lívelíhood geneiulíon. Ovei 3¯%
huve eílhei luken up employmenl oulsíde oi uie sell·
employed. Iuilhei, lhe CSR leum, wílh íls ínílíul
elloils lo look ul lhe oveiull ímpucl poínls
lor a causc. lmp|oyccs ar lnsclcJc p|anr |n rlc Ncrlcr|anJs parr|c|par|nq |n rlc 'lcc Buc|cr Cla||cnqc'
ucioss lhe vulue chuín, ulso enguged ín smull
uclívílíes loi lhe supplíeis communíly ínuluiul iuhhei
giudíng cenlie employees! ín lhe slule ol Keiulu.
Apollo´s LA opeiulíons undeilook vuiíous CSR
ínílíulíves wílhín lhe Nelheilunds such us employee
puilícípulíon lowuids lhe '1he Ice Buckel Chullenge´
loi lhe ALS loundulíon. 1he opeiulíons ulso
sponsoied lhe 'Good Cuuse Rully´, un ínílíulíve lo gíve
ciílícully íll chíldien u momenl ín whích lhey cun
'loigel´ uhoul lheíi íllness loi u líllle whíle und gel lo
chunce lo he co·diíveis ín hígh peiloimunce und
exclusíve cuis.
Wílhín lhe lívelíhood geneiulíon lheme, lhe opeiulíon
piovíded l0 long·líme unemployed people wílh
luhoui liuíníng·expeiíence ul lhe plunl ín lhe elloil lo
ie·ínlegiule lhem ínlo woik. 1hís ínílíulíve wíll
piovíde luilhei suppoil und enuhle lheíi chunces ol
gellíng huck lo employmenl.
Il wus un endoisemenl loi lhe oigunísulíon´s CSR
when lhe compuny wus iunked lsl ín lhe Aulo
Ancílluiy culegoiy ín lhe lísl ol 'Indíu´s Besl
Compuníes loi CSR´, u deluíled sludy hy Indíun
Inslílule ol Munugemenl, Uduípui und Iuluiescupe
1echnologíes.
A supp|cmcnrary jooJ proqrammc jor rlc AnqanwaJ|s ncar rlc l|mJa p|anr |n lnJ|a
ANNUAL PEPDPT 20I4-I5 35 34 APDLLD TYPES LTD
1ukíng iesponsíhílíly.
Cieulíng u hellei envíionmenl.
Fioleclíng oui mosl vuluuhle ussel.
1he moie commílled we uie loduy,
lhe hellei wíll he oui iewuid lomoiiow.

LXFLORL IOR
1OMORROW
l
2
3
4
5
6
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l0
ll l2 l3
l4
l5
l6
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lS
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22 23
24
25
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2S
2º
30
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34
35
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3S
3º
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42 43
44
45
46
4¯ 4S
4º
50
5l
52
53
54
55
56
5¯
5S 5º
60
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62
63
64
65
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6S
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S2 S3 S4
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l00
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l02
l03
l04
l05
l06
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l0S
l0º
ll0
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ll3
ll4
ll5
ll6
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llS
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l20
l2l
l22
l23
l24 l25
l26 l2¯
l2S
l2º
l30 l3l
l32
l33
l34
l35
l36 l3¯
l3S
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l50
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l42 l43
l44
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l4¯
l4S
l4º
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l53
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l5º l60
SUSTAINABILITY
Apollo Tyres LLd undersLands and respecLs iLs role and responsibiliLy Lowards ensuring beneliLs Lo 
iLs sLakeholders and socieLy aL large. This secLion gives an overview ol Lhe susLainabiliLy approach 
and perlormance in Lhe manulacLuring operaLions.
Feiíod ol Repoil
1he peiíod coveied loi lhe puipose ol lhís iepoil ís
Apiíl l, 20l4 lo Muich 3l, 20l5 und lhe iepoilíng
cycle ís unnuul.
Scope ol Repoil
1he ínloimulíon dísclosed ín lhe iepoil ielules lo
Apollo 1yies´ opeiulíons ín lwo iegíons · LA íLuiope
und Ameiícus! und AFMLA íAsíu Fucílíc, Míddle Lusl
und Aliícu!. 1he ínloimulíon ís iesliícled lo lhe
munulucluiíng opeiulíons ín lhe lwo iegíons, wílh lhe
exceplíon ol oui employees seclíon whích piovídes
ínloimulíon uhoul oui non·munulucluiíng opeiulíons
loo.
1he munulucluiíng loculíons uie:
LA Opeiulíons: Lnschede ín lhe Nelheilunds
AFMLA Opeiulíons: Chennuí, Límdu, Feiumhiu
und Kulumusseiy* ín Indíu
Apollo 1yies hus developed íls own Susluínuhílíly
Repoilíng Iiumewoik diuwíng elemenls liom
ISO26000 und Nulíonul Volunluiy Guídelínes. 1he
compuny hus mude elloils lo ensuie dísclosuie on
puiumeleis whích íl consídeis lo he consequenlíul.
MANAGLMLN1 AFFROACH
1OWARIS SUS1AINABILI1Y
Oigunísulíons uiound lhe woild uie hecomíng moie
conscíous ol socíully iesponsíhle hehuvíoui,
ínlegiulíng socíul und envíionmenlul conceins ín
lheíi husíness opeiulíons und ínleiuclíng wílh lheíi
slukeholdeis. 1he uím ol socíul iesponsíhílíly ís lo
conliíhule lo susluínuhle developmenl loi ull
slukeholdeis und lo piomole husíness uccounluhílíly.
Apollo 1yies ucknowledges lhe sígnílícunce ol íls
peiloimunce ín ielulíon lo lhe socíely ín whích íl
opeiules und íls ímpucl on lhe envíionmenl, holh now
und ín lhe luluie. 1he compuny´s socíul iesponsíhílíly
und susluínuhílíly commílmenl llows liom lhís
undeislundíng und ís hused on íls vísíon ol giowlh,
developmenl und expeclulíons ol ull íls slukeholdeis.
1he compuny´s susluínuhílíly [ouiney hegun ín 20l0.
Ovei lhe yeuis, íl hus esluhlíshed sliong munugemenl
syslems lo uíd plunníng und ímplemenlulíon ol
susluínuhílíly led ínílíulíves ucioss ull íls opeiulíons.
In IYl5, lhe compuny loimulísed lhe sliucluie und
conslíluled u Susluínuhílíly Commíllee wílh
iepiesenlulíon liom lhe Munugemenl Bouid. 1hís
hí ghl í ghl s l he commí l menl ol l he l op
¯ la|amasscry |ocar|on |s a |cascJ un|r
Lnschede
Chennuí
Feiumhiu
Kulumusseiy
Límdu
MANUIAC1URING LOCA1IONS
l|qurc 1
ANNUAL PEPDPT 20I4-I5 39
munugemenl lo diíve íls susluínuhílíly sliulegy
loiwuid.
1he commíllee ís iesponsíhle loi munugemenl ol
susluínuhílíly slulemenl, susluínuhílíly liumewoik
und woiks lowuids uchíevíng susluínuhílíly gouls.
WORKING1OGL1HLR
Apollo ís commílled lo cieule vulue loi ull íls
slukeholdeis - employees, cuslomeis íOLM und
ieplucemenl! und deuleis, supplíeis, ínveslois und
unulysls, shuieholdeis, iegululoiy hodíes und
communíly - hy puisuíng susluínuhle husíness
polícíes und piuclíces ull ulong lhe vulue chuín.
1he compuny helíeves lhul engugíng wílh íls
slukeholdeis ís ciucíul lo huíldíng u susluínuhle
husíness. 1he piocess ol holdíng sliucluied díulogue
LMFLOYLLS /
WORKLRS
CUS1OMLRS /
CONSUMLRS
SUFFLILRS /
ILALLRS
SHARLHOLILRS /
INVLS1ORS /
ANALYS LL 1S
SOCIL1Y 11
FROCURLMLN1 /
FURCHASL
MANUIA II C1URING /
ILLIVLRY RR
SALLS / IIS1RIBU1ION LNI OI LIIL
wílh lhe slukeholdeis´ gioups helps íl lo undeislund
lheíi conceins. 1hís ussísls lhe compuny ín
ímpiovíng íls decísíon·mukíng piocesses und
uccounluhílíly lo lhem.
1he compuny´s endeuvoui ís lo huíld u liuslwoilhy
und long·leim ielulíonshíp wílh ull íls slukeholdeis.
1he sliulegy ís lo:
slienglhen sliulegíc puilneishíps wílh íls
slukeholdeis
íncieuse slukeholdei puilícípulíon und
uchíeve oigunísulíonul gouls
1he compuny´s engugemenl wílh íls slukeholdeis
ícuslomeis, employees, supply chuín puilneis und
communíly! ís deluíled ínlhe seclíon ¨We Cuie¨.
l|qurc 2 ll
WORKING 1OGL1HLR
Womcn ma||nq orqan|c manurc |n a v|||aqc nc WW ar rlc l|mJa p|anr |n lnJ|a
CARE FOR CUSTOMERS
'Cuslomei Iíisl´ ís one ol lhe key vulues enshiíned ín
lhe Apollo Wuy. Oui cuslomeis, und lhose whom lhey
seive, uie cenliul lo eveiylhíng lhul we do.
1he AFMLA opeiulíons uspíies lo he lhe hesl ín
l|qurc J ll
WL CARL
Aspíie lo he lhe hesl ín cuslomei seivíce ín lhe
Indíun lyie índusliy hy 2020
In Indíu íAFMLA!,
udopled 360 uppiouch lo
ínlluence ull cuslomei
louchpoínls
Cieule vulue loi lhe oigunísulíon hy developíng humun
cupílul
1olul Lmployee Slienglh: l4,5S¯
Lmployee Alliílíon: 5.ll%
Lnguged wílh
communílíes uiound
oui opeiulíons wílh
locus on Lívelíhood
geneiulíon
In Indíu íAFMLA!,
liuíned unemployed youlh
und women. Ovei 3¯% huve
heen employed
In Nelheilunds íLA!, piovíded luhoui liuíníng lo
unemployed lo ie·ínlegiule lhem ínlo woik
Commílled lo
suppoil lhe
supply chuín,
liom upslieum lo
downslieum"
Ovei º5% supplíeis
huve sígned Fuilneis
Code ol Conducl íFCC!
cuslomei seivíce ín lhe Indíun lyie índusliy hy 2020
hy wínníng cuslomei conlídence lhiough excellenl
seivíce quulíly und hussle liee pioducl expeiíence. Il
udheies lo lhe híghesl slunduids ol cuslomei cuie
seivíces und ís pioud lo decluie lhul lheie hus heen no
íncídenl ol non·complíunce wílh ieguids lo pioducl
Wor|slop w|rl raq p|c WW |crs, Aqra, lnJ|a cc
CUS1OMLRS
L CONSUMLRS
LMFLOYLLS/
WORKLRS
SUFFLILRS/
IIS1RIBU1ORS/
ILALLRS
COMMUNI1Y
40 APDLLD TYPES LTD LL ANNUAL PEPDPT 20I4-I5 4I
sulely, pioducl luhellíng, muikelíng communículíons
oi dulu piívucy liom uny ol íls opeiulíons ín lhe
iepoilíng peiíod.
1he opeiulíons hus liuveised u long díslunce ín lhe
pusl decude. Ovei lhe yeuis, íls locus hus shílled lo u
wídei umhíl ol 'compluínl munugemenl´. 1he
uppiouch nol only uddiesses husíc uspecls líke cluím
iediessul, pioducl leslíng, muss cuslomei cumpuígns
hul ulso seeks lo elímínule uny scope loi compluínl ín
íls pioducls und seivíces.
1eums ín lhe opeiulíons ieguluily conducl pioducl
und sulely uwuieness woikshops und heullh
ussíslunce piogiummes und ulso encouiuge
cuslomeis lo shuie lheíi expeiíences lhiough u
dedículed mechunísm.
Oui Woik Wuys
In lhe AFMLA opeiulíons, lhe compuny hus u
dedículed cuslomei seivíce depuilmenl whích hus
memheis wílh specíulísed knowledge on pioducls,
lechnícul expeilíse und commeicíul undeislundíng lo
piovíde vulue·udded seivíces lo oui cuslomeis. Il ulso
ucls us u key suppoil lunclíon loi olhei depuilmenls
líke Sules L Muikelíng und Flunl 1echnology hy
shuiíng íVoíce ol Cuslomeis! leedhuck liom lhe
cuslomeis.
Regíonul Inspeclíon Cenlies íRICs! huve heen sel up
ucioss Indíu lo cuiiy oul checks on ieluined pioducls
und shuie ínsíghls so guíned wílh lhe Fioduclíon
íMunulucluiíng! und Reseuich L Ievelopmenl uníls
loi ímpiovíng quulíly ol pioducls und mínímísíng
wusles ísciup!.
1he sliulegíes ol lhe depuilmenl ínclude developíng
1BR leudeishíp, educulíng diíveis ín lyie cuie und
muínlenunce, oigunísíng diíveis´ welluie cumps und
A
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CUS1OMLR
AFFROACH
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l|qurc 4
ll\·AllS awarcncss proqrammc |n lnJ|a
educulíng cuslomeis lo shuipen íls 360 Cuslomei
Appiouch lhul connecls wílh ull lhe cuslomei seivíce
louch poínls. Undei lhe Apollo 360 Cuslomei
Appiouch, lhe compuny cuiiíes oul mullíple
ínílíulíves íncludíng Apollo Ceilílíed Iíllei
Fiogiumme, Apollo Ceilílíed Relieudei Fiogiumme
und Apollo 1yie Roud Assíslunce Fiogiumme.
Goíng loiwuid, lhe pluns ínclude ínlioduclíon ol lhe
Seivíces Supei¯ Appiouch whích uíms lo hiíng ín lhe
culluiul shíll ol empoweiíng cuslomeis wílh ielevunl
knowledge und lechnícul expeilíse hy wuy ol plunned
piogiummes líke 'Io íl Youisell´ íIIY! und 'Know
Youi Cuslomei´ íKYC!. Bellei knowledge ol pioducls
wíll enuhle íls cuslomeis lo ulílíse pioducls moie
ellícíenlly.
Ioi Apollo´s LA opeiulíons, íl conlínues lo ímpiove
lyie luhel vulues on iollíng iesíslunce, noíse und wel
giíp us pei lhe Luiopeun 1yie Luhellíng Regululíon.
Ioi exumple, lhe iecenlly ínlioduced pioducl líne,
Quuliuc 5, ieduces iollíng iesíslunce hy, on un
uveiuge, l0%.
CARE FOR EMPLOYEES
One ol Apollo´s coie vulues ís lo celehiule oneness
und loslei leum spíiíl ín lhe woikloice hy huíldíng
liuslíng ielulíonshíps, shuied vísíon und pussíon loi
common gouls. We encouiuge Apolloíles lo leud u
heullhy líleslyle, luke piíde ín euch olhei´s woik,
íiiespeclíve ol híeiuichy, iuce, ielígíon oi gendei und
connecl wílh euch olhei us One Iumíly.
Apollo´s HR vísíon ís lo he u sliulegíc puilnei lo lhe
husíness und cieule vulue loi lhe oigunísulíon hy
developíng humun cupílul. In líne wílh lhís vísíon, lhe
compuny helíeves ín empoweiíng íls employees und
hone lheíi skílls. Al Apollo, lhe endeuvoui ís lo ensuie
und piovíde employee henelíls, muínluín gendei
neuliulíly, lucílílule colleclíve huiguíníng und
muínluín u heullhy und sule envíionmenl ul ull íls
opeiulíons. Undei lhe ínlegiuled munugemenl
syslem, lhe compuny ís ceilílíed loi OHSAS lS00l ín
ull íls munulucluiíng loculíons ín Indíu. 1he compuny
lollows luhoui polícíes complíunl wílh slululoiy und
iegululoiy iequíiemenls loi puymenl ol wuges und
olhei henelíls.
A mu[oiíly ol lhe compuny´s woikloice ín ull íls
opeiulíons ís employed on u peimunenl husís,
conslílulíng ¯2.º6% ol lhe lolul.
AFMLA S6.5%
LA ll.l% CORF 2.4%
LMFLOYLL BRLAKIOWN
1ora| wor|jorcc. 14,587
l|qurc 5
Corporarc ojj|ccs |nc|uJc cmp|oyccs ar our corporarc ojj|ccs |n
Curqaon, lonJon, S|nqaporc anJ Rol J|v|s|on |n rlc Ncrlcr|anJs.
42 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 43
l0.00%
S.00%
6.00%
4.00%
2.00%
0.00%
RLGION·WISL LMFLOYLL A11RI1ION

AFMLA
5.3%
S.4%
3.2%
LA Coipoiule
l|qurc 7
1he gendei composílíon ís piímuiíly mule, wílh
l
lemules compiísíng l.¯% ol íls woikloice. 1he
oigunísulíon, howevei, ís conscíously woikíng
lowuids ieciuílíng moie lemule employees lo hiíng u
gendei hulunce.
1he employee ulliílíon iule ul ull lhe compuny´s
opeiulíons ís low, wílh lhe oveiull iule louchíng
2
5.l% ín lhe iepoilíng peiíod. One ol lhe ieusons loi
lhís ís lhul u mu[oiíly ol oui woikloice ís diuwn liom
lhe locul communílíes whích gíves us un udded
udvunluge ín lhe loim ol u closei líe wílh lhe
communílíes ín whích we opeiule.
1iuíníng und Ievelopmenl
Apollo ís commílled lo empoweiíng íls woikloice lo
luke owneishíp loi lheíi uclíons und iesponsíhílíly loi
iesulls, us well us lo ínnovule und emhiuce chunge.
Ioi lhe AFMLA opeiulíons, híghly specíulísed
piogiummes l í ke 1echnol ogy Leudeishí p
Ievelopmenl Fiogiumme ís cuiiíed oul loi RLI und
munulucluiíng piolessíonuls ul lhe coipoiule level.
RLI piolessíonuls uie sponsoied loi piogiummes ín
loieígn uníveisílíes und olhei lyie ieluled
oigunísulíons ín Indíu und uhioud.
Ioi lhe LA opeiulíons, l,235 employees weie
piovíded liuíníng ín muikelíng, sules und
developmenl, woikshop vulues, pioduclíon
piocesses, skílls, lechnícul, munugemenl, lyie

l
Brca|Jown oj ma|c anJ jcma|c cmp|oyccs Jocsn'r |nc|uJc conrracr cmp|oyccs oj Clcnna| p|anr
2
1lc ca|cu|ar|on Jocs nor |nc|uJc rlc 12J cmp|oyccs |n rlc Ncrlcr|anJs' Rol opcrar|ons
Conliucl 2¯%
BRLAK·UF OI FLRMANLN1 ANI
CON1RAC1 LMFLOYLLS
Feimunenl ¯3%
l|qurc ó
2.º
2.S
2.¯
AVLRAGL 1RAINING MANIAYS íAFMLA!
Munugemenl
2.S
2.º
Olhei Lmployees
l|qurc 8
lechnology, elc.
3
In lhe Coipoiule Ollíces, u lolul ol 2,46º mun·duys ol
liuíníng weie piovíded lo lhe munugeiíul slull.
Humun Ievelopmenl
1he compuny nol only empoweis íls employees wílh
iíghl skílls, hul ulso develops lheíi cupuhílílíes hy
conslunlly moníloiíng lheíi peiloimunces whích ís
key lo uchíeve hellei iesulls.
1he Feiloimunce Munugemenl Syslem ís uímed ul
oh[eclíve evuluulíon ol peiloimunce, ídenlílículíon ol
liuíníng needs und iewuid loi good peiloimunce.
Apollo helíeves ín iecognísíng und iewuidíng
employees loi oulslundíng peiloimunces lo molívule
lhem lo uchíeve lheíi luigels und guíde olheis lo
uccomplísh ídenlílíed oh[eclíves und gouls ol lhe
oigunísulíon. Fiogiums líke 'Lmployee ol lhe Yeui´
und 'Roll ol Honoui´ help ín lhís goul und ulso seive us
u lool lo enhunce employee engugemenl.
Heullh und Sulely ul Woik
Fiovídíng u heullhy und sule envíionmenl lo íls
employees ís lhe compuny´s lop piíoiíly. 1heie hus
heen u sleudy ímpiovemenl ol lhe sulely slunduids ol
oui equípmenl hy hiíngíng ín elleclíve engíneeiíng
conliols und ímplemenlíng pio[ecls whích ohvíule lhe
need loi munuul ínleivenlíons.
1he compuny´s locus ís on diívíng Behuvíoui Bused
Sulely ucioss íls munulucluiíng loculíons und lollow
ínleinulíonul slunduids. 1he Indíun opeiulíons uie
ceilílíed undei OHSASlS00l íOccupulíonul Heullh
und Sulely Munugemenl Syslems!.
In ull íls opeiulíons, lhe compuny hus ínslíluled
loimul heullh und sulely commíllees ul uníl und
depuilmenl levels lo ensuie elleclíve goveinunce und
munugemenl ol heullh und sulely peiloimunce. Il hus
luken seveiul ínílíulíves lo ensuiíng u sule woikíng
envíionmenl loi íls employees. Some ol lhese uie
híghlíghled ín líguie º.
No lululílíes und occupulíonul díseuses weie iepoiled
ín uny ol lhe munulucluiíng loculíons.
In lhe AFMLA opeiulíons, lheie weie 2,l¯2 uccídenls
ííncludíng líisl·uíd und mu[oi uccídenls! duiíng lhe
iepoilíng peiíod und S,65¯ mun·duys weie losl due lo
lhe ín[uiíes cuused.
Ioi lhe LA opeiulíons, 400 mun·duys weie losl due lo
¯º uccídenls. 1he losl iule due lo ín[uiy wus l.S2,
whích hus shuiply come down liom 62.2 ín lhe
pievíous yeui. 1he uhsenleeísm iule wus iecoided ul
4.º5%.
1heie weie no lululílíes ín eílhei opeiulíons.
· lca|rl Ass|srancc Iroqrammcs
Acioss lhe lwo opeiulíons, lhe compuny conlínues lo
huve vuiíous heullh ussíslunce piogiummes loi
l|qurc 9
SAIL1Y MLASURLS CHLNNAI LIMIA KALAMASSLRY FLRAMBRA
Iull uiiesl syslem ínslulled
Sulely índuclíon liuíníng
Conliuclois´ sulely munugemenl
Roud sulely piogiumme
Woik peimíl syslem loi non·ioulíne
uclívílíes slienglhened
Huzuidous chemícul hundlíng liuíníng
Lquípmenl ínslulled loi sulely
Regului ínspeclíon und uwuieness
piogiummes
SAIL1Y MLASURLS 1AKLN IN AFMLA RLGION
3
1lc ca|cu|ar|on Jocs nor |nc|uJc 12J cmp|oyccs jor Ncrlcr|anJs' Rol opcrar|on
44 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 45
employees und lheíi lumílíes. 1hese ínclude lhe HIV·
AIIS uwuieness und pievenlíon ínílíulíve, unlí·
lohucco und unlí·ulcohol piogiummes und lhe
díseuse pievenlíon ínílíulíves.
Iíguie l0 gíves deluíls ol lhe heullh·ieluled liuíníng
und counsellíng piogiummes conducled.
CARE FOR SUPPLY CHAIN PARTNERS
1he compuny hus ídenlílíed supply chuín lo he u key
locus uieu ol íls opeiulíons. 1he supply chuín spuns
liom upslieum ísouicíng iuw muleiíuls ! lhiough lo
downslieum ísellíng lhe pioducl lhiough lhe
compuny´s nelwoik ol dísliíhulois und deuleis!
uclívílíes. 1he oigunísulíon ís conslunlly lookíng loi
uvenues lo develop new chunnel nelwoiks und cieule
uwuieness ol luíi piuclíces umongsl lhe dísliíhulois.
One such key ínílíulíve ís u díslíncl ieluíl concepl loi
lhe iuiul muikels, known us lhe Ruiul Lxclusíve
Lduculíon/ Counsellíng Fievenlíon/ 1ieulmenl
1iuíníng Rísk Conliol
Kulumusseiy
Woikloice
Woikei´s Iumílíes ·
Communíly Memheis ·
Feiumhiu
Woikloice
Woikei´s Iumílíes ·
Communíly Memheis · ·
Límdu
Woikloice
Woikei´s Iumílíes · · · ·
Communíly Memheis · · · ·
Chennuí
Woikloice
Woikei´s Iumílíes · · · ·
Communíly Memheis · · · ·
HLAL1H RLLA1LI 1RAINING ANI COUNSLLLING FROGRAMMLS
l|qurc 10
Ieuleishíp íRLI!, wheiehy woikshops uie held lo
enuhle lhe cuslomeis lo choose lhe iíghl pioducls
und use íl sulely ín oidei lo íncieuse ellícíency.
1he compuny consídeis íls supplíeis us long·leim
husíness puilneis und woiks logelhei wílh lhem on
envíionmenlul, economíc und socíul uspecls lo
enuhle susluínuhle husíness piuclíces. 1he compuny
encouiuges íls supplíeis lo develop lheíi
envíionmenlul syslems ín complíunce wílh lhe
iequíiemenls ol ISOl400l und lo gel lheíi syslems
ceilílíed hy u lhíid puily. 1he compuny expecls íls
puilneis lo comply wílh ull nulíonul und olhei
upplícuhle luws und iegululíons ín lheíi opeiulíons.
1he compuny´s supplíeis huve eílhei pie·iegísleied
loi RLACH complíunce oi uie ín lhe piocess ol such
iegísliulíon us pei lhe iegísliulíon deudlíne
iequíiemenls, us upplícuhle. 1he puichuse polícy ís
ímplemenled ín spíiíl lhiough susluínuhle piuclíces
lhioughoul íls vulue chuín. 1he Fuilnei Code ol
Conducl íFCC! desígned hy lhe oigunísulíon, coveis u
wí de specl ium ol socí ul , economí c und
envíionmenlul conceins. Ahoul º5% ol lhe iuw
muleiíul supplíeis huve [oíned lhe compuny ín
ucceplíng íls code helpíng lo slienglhen lhe
susluínuhílíly [ouiney ín íls upslieum supply chuín.
Iuilhei, lhe compuny ís geuied up lo meel ull iuw
muleiíul ieluled iequíiemenls wílh ieleience lo usuge
ol Folycyclíc uiomulíc hydiocuihon liee muleiíuls loi
supply ol lyies lo Luiope.
1he compuny ís ulso geuied up lo meel ull lhe cuiienl
und luluie lyie luhellíng iequíiemenls, us und wheie
upplícuhle.
Also, lhe compuny conducls CSR woikshops loi íls
puilneis lo spieud uwuieness uhoul HIV·AIIS
pievenlíon und suhslunce uhuse wílh lhe help ol íls
Coipoiule Fuichuse und CSR leums on u iegului
husís. 1hís ís ín líne wílh lhe iísk mínímísulíon
sliulegy und cieules syneigy wílh íls coipoiule CSR
ínílíulíves. Unlíl now, 36 supplíei plunls huve heen
coveied undei lhís piogiumme hy lhe muslei liuíneis
und uhoul ¯º0 puilícípunls liom supplíeis huve heen
liuíned.
CARE FOR COMMUNITY
Apollo 1yies ís conlínuously engugíng wílh lhe
communílíes uiound íls opeiulíons lo develop
muluully henelícíul ielulíonshíps wílh lhem. 1he
uclívílíes uie ulígned wílh íls husíness susluínuhílíly
piogiumme.
Ioi lhe AFMLA opeiulíons, lhe engugemenls uie
uímed ul ímpiovíng lívelíhood und geneiul well·heíng
ol lhe communílíes und ínclude uclívílíes lo piovíde
íncome uvenues, skíll·huíldíng, heullhcuie,
envíionmenlul uwuieness und conseivulíon und olhei
socíul piogiummes.
Womcn unJcrra||nq lla|ra ma||nq · A ||vc||looJ qcncrar|on |n|r|ar|vc |n a v|||aqc arounJ rlc l|mJa p|anr |n lnJ|a
46 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 47
1he nuluie ol íls communíly pio[ecls lollow u cleui
und well·delíned sliulegy wílh lhe oh[eclíve ol
meelíng lhe key needs ol lhese communílíes, us
shown ín líguiell.
1he compuny´s ínílíulíves und pio[ecls lull undei loui
lhiusl uieus, numely, lívelíhood geneiulíon, heullh,
envíionmenl und supply chuín
Lívelíhood Geneiulíon und Skíll Buíldíng
1he compuny seeks lo develop enliepieneuiíul skílls
und ímpuil voculíonul liuíníngs lo lhe unemployed
youlh und women und piovíde ímpioved luimíng
piuclíces lo iuíse íncome levels ol lhe communílíes.
· Irojccr l
1hís ís u skíll huíldíng und lívelíhood geneiulíon
piogiumme heíng cuiiíed oul ín lhiee loculíons ín lhe
AFMLA opeiulíons- Chennuí, Kochí und Vudoduiu.
1he luigeled uudíence ís heíng liuíned ín muny
voculíonul skílls such us uppuiel mukíng,
housekeepíng, peisonul cuie, hospílulíly, mukíng
home cleuníng ugenls, houquel und collon wusle
pioducls loi índusliy, elc.
Besídes, Apollo 1yies Ioundulíon hus sel up sell·help
gioups ín lhe vílluges us u puil ol Fio[ecl U loi lhe
empoweimenl ol women. Vílluge women uie liuíned
lo deul wílh vuiíous socíul íssues líke domeslíc
víolence, dowiy, women´s iíghls, elc.
In lhe iepoilíng peiíod, lhe piogiumme piovíded
skílls liuíníng lo 34º unemployed youlh und women,
oul ol whích l3l huve sluiled euiníng.
· lmprovcJ larm|nq Iracr|ccs
1hís pio[ecl suppoils lhe luimíng communíly uiound
lhe Límdu plunl hy piovídíng cupucíly huíldíng
seivíces such us modein wuys ol luimíng lechníques,
use ol ímpioved vuiíelíes ol seeds und olhei wuys lo
íncieuse ugiículluiul pioduclívíly und íncome. 1he
pio[ecl ulso olleis seivíces ieluled lo líveslock cuie
und munugemenl und hieedíng cumps. In ull, 20¯
luimeis henelílled ín vuiíous wuys duiíng lhe
iepoilíng peiíod.
4. Revíewíng oulcomes und undeislundíng
ímpucls ol ímplemenled uclívílíes
loi luilhei ímpiovemenl
l|qurc 11
l. Undeislundíng needs und iequíiemenls
ol lhe communíly
2. Ievelopíng piíoiíly uieus und uíms hused
on communíly needs
3. Flunníng, ímplemenlíng und moníloiíng
pio[ecls undei lhe ídenlílíed piíoiíly uieus
Irojccr l · 1a|c lomc rar|on projccr
· l|vc||looJ ln|r|ar|vcs
1he LA opeiulíons piovíded luhoui liuíníng lo l0
índívíduuls who weie unemployed loi long lo
ímpiove lheíi [oh piospecls. Il ulso piovíded u ceiluín
peicenluge ol employmenl lo lhe dísuhled us pei lhe
locul luw mundule.
Lnvíionmenlul Fioleclíon
1he compuny cuiiíed oul vuiíous ínílíulíves ín lhe
iepoilíng peiíod lo pieseive lhe envíionmenl.
· C|can My 1ransporr Naqar
1he Cleun My 1iunspoil Nugui íCM1N! ínílíulíve
uíms ul ímpiovíng wusle munugemenl und
cleunlíness ol ídenlílíed liunspoil huhs ín Indíu, ulong
wílh geneiulíng uwuieness on heullh und sunílulíon.
Il olleis u speclium ol seivíces líke wusle colleclíon,
wusle segiegulíon, duíly cleuníng ol lhe slieels und
lunes, cieulíng composl liom híodegiuduhle wusle,
wusle iecyclíng und cieulíon ol lívelíhood
oppoilunílíes loi iug·píckeis.
1he líisl CM1N pio[ecl wus sluiled ín 20l2 ín Ielhí´s
Sun[uy Gundhí 1iunspoil Nugui, lollowed hy unolhei
ul lhe Agiu´s 1iunspoil Nugui. Olhei liunspoil huhs
uie heíng ídenlílíed loi ieplículíon und expunsíon ol
lhe pio[ecl ín lhe comíng yeuis.
Iuiíng lhe iepoilíng peiíod, l5,º5º kg ol wusle wus
collecled lhiough lhe pio[ecl, whích íncluded
híodegiuduhle wusle ol º,46º kg und non·
híodegiuduhle ol 4,4º6 kg.
· C|can My \|||aqc
A communíly·hused solíd wusle munugemenl pio[ecl
culled Cleun My Vílluge, wus ínílíuled ín 1umíl Nudu.
1he pio[ecl olleis muny seivíces líke duíly wusle
colleclíon, wusle segiegulíon, composl pioduclíon,
spieudíng uwuieness und udvocucy on lhe ínlegiuled
íssues ol wusle, sunílulíon und heullh umongsl
vuiíous slukeholdeis ín lhe communíly.
· IonJ rcv|va| |n Icr|nqa|u|am
1he compuny und lhe locul gium punchuyul [oínlly
oigunísed u cleuníng diíve ín colluhoiulíon wílh lhe
1iopícul Inslílule ol Lcologícul Scíences í1ILS! ol
Kolluyum lo cleun und ievíve lhe pond ín
Feiíngukulum. 1he diíve wus compleled ín l3 duys
duiíng whích 500 kg ol wusle wus iemoved.
· 1rcc p|anrar|on
1he liee plunlulíon pio[ecl ís uímed ul holh cuihon
cupluie und lívelíhood geneiulíon loi lhe luimeis ín
lhe wulei sluived uieus ol 1umíl Nudu. 1he compuny
hus puilneied wílh 1IS1 Fiívule Lld ol Chennuí, Indíu
C|can my \|||aqc - A commun|ry bascJ so||J wasrc manaqcmcnr projccr ncar rlc Clcnna| p|anr |n lnJ|a
48 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 49
loi lhís pio[ecl ín vuiíous dísliícls ol 1umíl Nudu und
uíms lo plunl l,00,000 suplíngs ín loui phuses.
In lhe iepoilíng peiíod, lhe compuny hus plunled
44,000 leuk wood suplíngs lhiough lhe pio[ecl whích
hus henelílled 52 luimeis.
Heullh Inílíulíves
1he lhíid lhiusl uieu ís heullh loi whích lhe compuny
iuns one ol lhe híggesl und mosl ínclusíve
piogiummes.
· ll\/AllS Awarcncss anJ Ircvcnr|on
1he compuny hus u compiehensíve piogiumme on
HIV/AIIS uwuieness und pievenlíon loi ull key
slukeholdeis - employees, cuslomeis íliuckeis und
ullíed popululíon!, supply chuín puilneis und
communíly, íncludíng puilneis/spouse ol pulíenls.
1he compuny hus luigeled ínleivenlíons ín lhe loim ol
25 heullhcuie cenlies ín liunspoil huhs ucioss Indíu,
íncludíng Mumhuí, Chennuí, Ielhí, Kolkulu und
Ahmeduhud, locusíng on liuck diíveis, commeicíul
sex woikeis und mígiunl luhoui. 1hiee such cenlies
weie opened duiíng lhe iepoilíng peiíod ín Iuiukku
íWesl Bengul!, Fulnu und Nugpui.
In lhe iepoilíng peiíod, we ieuched oul lo ovei 4l,º53
people ín lhe liuckei luigeled ínleivenlíon
piogiumme lhiough vuiíous uwuieness piogiummes.
Moie lhun 54,l6S people, íncludíng liuckeis und
ullíed popululíon, weie lieuled oul ol whích 3,305
liuckeis weie lieuled loi sexuully liunsmílled
ínleclíon íS1I! und 3º,º5l counselled loi HIV/AIIS.
In ull, l5,45º HIV lesls weie cuiiíed oul, ol whích lll
lesled posílíve.
Olhei heullh ínílíulíves íncluded síx eye check·up
cumps oigunísed ul Sun[uy Gundhí 1iunspoil Nugui
ín Ielhí loi diíveis und ullíed popululíon. 1he
piogiumme henelíled 503 people, íncludíng l¯º
liuck diíveis. 1heie weie hlood donulíon diíves und
hygíene ímpiovemenl uclívílíes duiíng whích wulei
díspenseis weie dísliíhuled.
Supply Chuín Inílíulíves
1he louilh lhiusl uieu ís wílhín oui supply chuín,
wheie lhe compuny conducled u lew ínílíulíves loi lhe
Ruhhei 1uppei communíly und Giudíng Cenlie
employees. Lye check·up cump wus oigunísed loi lhe
employees ol iuhhei giudíng cenlie ín Keiulu ín
whích 2º employees weie exumíned. Líghleen weie
díugnosed wílh vísíon piohlems und weie piesciíhed
speclucles. Geneiul medícul cumps weie ulso
oigunísed loi lhe luppeis und giudíng cenlie woikeis
ín whích lll weie gíven medícul cuie.
Apo||o 1yrcs' |n|r|ar|vc ro cncouraqc rrcc p|anrar|on |n 1am|| NaJu, lnJ|a
Fhílunlhiopíc Aclívílíes
1he compuny ulso suppoils socíul cuuses us u puil ol
íls Coipoiule Socíul Responsíhílíly íCSR! spendíng
wílhín Indíu undei lhe AFMLA opeiulíons. 1he LA
opeiulíons hus ulso undeiluken sponsoishíp ol evenls
und donulíons whích uie piímuiíly luigeled ul
dísudvunluged und dísuhled women und chíldien.
1he uclívílíes uie locused uiound suppoil lowuids
heullh, educulíon und lhe dísuhled. Some ol lhe
ínílíulíves íncluded donulíons lo lhe hospílul lo iuíse
uwuieness uhoul hulunced díel und unuemíu, suppoil
loi educulíon ol hlínd school sludenls und gíils liom
undei piívíleged secloi, und donulíons mude duiíng
nuluiul dísusleis such us lloods ín Kushmíi.
1he LA opeiulíons ís ín díiecl conlucl wílh íls locul
communílíes ín Lnschede und puilícípules ín vuiíous
uclívílíes líke piovídíng ínloimulíon und ullendíng
queslíon und unswei sessíons wílh lhe deuns/
leucheis und sludenls ul lechnícul educulíon
ínslílulíons, [oíníng excuisíons wílh sludenls und
iepiesenlulíves liom lhe uníveisílíes, índusliíes, elc.
Iuiíng lhe iepoilíng peiíod, lhe opeiulíons
puilícípuled ín '1he ALS Ice Buckel Chullenge´,
suppoiled chionícully íll chíldien und dísuhled
people und piovíded lívelíhood suppoil lo lhe
unemployed. In Junuuiy 20l5, lhe opeiulíons ulso
sígned u co·opeiulíon ugieemenl wílh lhe ROC vun
1wenle und AOC Oosl logelhei wílh olhei compuníes
ín lhe piocessed lood und leed índusliy loi lhe sluil·
up ol u voculíonul cenlie loi piocess lechnology ín
Luslein Nelheilunds.
GO GRLLN
1he compuny´s Go Gieen ínílíulíves slem liom lhe
helíel lhul íl cun sígnílícunlly conliíhule lowuids
mílígulíng lhe envíionmenlul chullenges und
cieulíng u posílíve ímpucl on lhe ecosyslem.
Ruw Muleiíul Souicíng und Munugemenl
1yie munulucluiíng ielíes on lhiee piímuiy iuw
muleiíuls: nuluiul iuhhei, synlhelíc iuhhei und
cuihon hluck. Cuiienlly, lhese lhiee compiíse 6S.2%
ol oui lolul iuw muleiíul volume consumplíon. Ioi lhe
AFMLA opeiulíons, nuluiul iuhhei cluíms lhe hulk ol
lhe iuw muleiíul wílh u 6¯.º% shuie ol lhe lolul
iuhhei usuge. In íls LA opeiulíons, lhe compuny
depends on nuluiul und synlhelíc iuhhei.
1he use ol iuw muleiíul ís deleimíned hy cosl und
uvuíluhílíly. Sínce liudílíonul nuluiul iuhhei hus seen
rJ
Apo||o 1yrcs' 2J lca|rl carc c||n|c |n Wcsr Bcnqa|, lnJ|a
50 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 5I
hígh muikel volulílíly, lhe compuny hus heen uclívely
seekíng ulleinulíve nuluiul souices such us Iundelíon
und Guuyule lhiough íls LU FLARLS pio[ecl.
1he compuny conlínuously endeuvouis lo cul down
consumplíon hy ieducíng muleiíul use lhiough
ínnovulíon ín desígn ol íls lyies, wílhoul
compiomísíng on pioducl quulíly und sulely. Ils RLI
cenlies uie dedículed lo uchíeve lhís oh[eclíve. In
uddílíon, íl liíes lo iecycle muleiíuls lo lhe muxímum
exlenl lo conseive iesouices.
Lneigy Souicíng und Munugemenl
Iíiecl eneigy souices pluy u díiecl iole ín lhe lyie
munulucluiíng piocess us lhe componenl
piepuiulíon und cuiíng piocesses iequíie ínlensíve
heul loi slímululíng chemícul ieuclíons helween
iuhhei und olhei muleiíuls.
Indíiecl eneigy souices íelecliícíly und wínd powei!
ís used loi lunclíoníng ol ulílílíes, líxluies und olhei
peiípheiul iequíiemenls supplemenlíng lhe
munulucluiíng piocesses. 1he hlend ol eneigy
souices ís deleimíned hy uvuíluhílíly, piíce und
envíionmenlul consídeiulíons wheie clímule chunge
ímpucls uie lhe mosl piessíng íssues.
1O1AL RAW MA1LRIAL CONSUMLI IN AFMLA
ANI LA RLGIONS
ln mcrr|c ron
Olhei Ruw Muleiíuls 3l.S%
Synlhelíc Ruhhei l4.4%
Cuihon Bluck 23.2%
Nuluiul Ruhhei 30.6%
1ora| raw marcr|a| consumcJ across a||
our opcrar|ons. 4,79,20ó mcrr|c ron
1ora| rccyc|cJ marcr|a|. ó,8ó8 mcrr|c ron (1.4J" oj
rlc rora| raw marcr|a| consumcJì
l|qurc 12
SHARL OI LNLRGY CONSUMLI BY SOURCL
íIIRLC1 ANI INIIRLC1!
1ora| cncrqy consumpr|on (borl J|rccr anJ |nJ|rccrì ·
41,2J,990 CI
l|qurc 1J
Sleum 2l.0% Llecliícíly 2¯.3%
Wínd 4.0%
Iuinuce Oíl 5.º%
Gus l3.¯%
Olheis 0.2%
Coul 2¯.º%
Commun|ry cnqaqcmcnr |n l|mJa v|||aqc, lnJ|a
1he AFMLA opeiulíons uccounl loi S6.3%
í35,5S,543.l GJ! ol lolul eneigy consumplíon.
1hough coul ís lhe piímuiy souice ol díiecl eneigy loi
lhe Indíu opeiulíons, lhe compuny hus conscíously
udopled cleun eneigy souices lo cul down cuihon
loolpiínl. Il uses wínd eneigy ín íls Chennuí und
Límdu plunls, whích ís souiced lhiough lhe giíd. In
lhe iepoilíng yeui, 4.S% ol lolul eneigy consumplíon
ol lhe Indíu opeiulíons wus souiced liom wínd powei.
In lhe LA opeiulíons, eneigy consumplíon ís l3.¯%
ol lhe lolul eneigy í5,65,44S GJ! consumplíon. 1he
compuny uses nuluiul gus loi ull díiecl und elecliícíly
loi índíiecl eneigy consumplíon us íl ís lhe
piedomínunl eneigy souice ín lhe Nelheilunds.
Gieenhouse Gus íGHG! Lmíssíons
1he compuny ís conlínuously woikíng lowuids
ieducíng Gieenhouse Gus íGHG! emíssíons und
clímule chunge ímpucls ín oui susluínuhílíly [ouiney.
Il hus luken vuiíous ínílíulíves whích ínclude
ieduclíon ín eneigy consumplíon, locus on pioducls
líke low iollíng iesíslunce und emíssíon ín
liunspoilulíon und logíslícs elc.
Al piesenl, mosl ol eneigy iequíiemenl ol lhe
oigunísulíon ís mel liom non·ienewuhle souices. 1he
compuny ís conscíously exploiíng possíhílílíes ol
usíng cleun eneigy even íl íl comes ul u piemíum. Ioi
ínslunce, lhe compuny uses wínd eneigy ín íls
Chennuí und Límdu plunls.
As un elloil lo ieduce emíssíons, lhe coipoiule RLI
lunclíon ul Lnschede, lhe Nelheilunds, hus u sel ol
hícycles wílh ulloculed huy spuce ul lhe piemíses,
wheiehy employees uie encouiuged lo use lhese us u
mode ol liunspoil. 1heie ís ulso u hulleiy opeiuled cui
seivíce, shulllíng helween lhe plunl und lhe RLI
ollíce, lo liunspoil peisonnel wílh lhe uím lo suve luel
und emíssíons.
In lhe AFMLA opeiulíons, GHG emíssíons ín íls
Feiumhiu und Chennuí plunls weie ieduced hy lukíng
u numhei ol ínílíulíves.
Wulei Souicíng und Munugemenl
Apollo iecogníses lhe ímpoilunce ol uclíng
iesponsíhly und ímplemenlíng wulei conseivulíon
melhods. 1he compuny ís pioud lo decluie lhul no
wulei souice wus sígnílícunlly ullecled hy wílhdiuwul
ol wulei loi uny ol íls opeiulíons. Iuilhei, lhe
Wasrc manaqcmcnr anJ scqrcqar|on projccr |n 1am|| NaJu, lnJ|a
52 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 53
compuny hus ínílíuled u lew pio[ecls ín lhe AFMLA
opeiulíons lo conseive wulei ín lhe iepoilíng peiíod ul
lhe plunl level. 1hese íncluded elleclíve ulílísulíon ol
suníluiy wulei lhiough wusluge mínímísulíon,
employee uwuieness piogiummes, íncieusíng ín
wulei iecyclíng cupucíly, elc.
Wusle Reduclíon und Munugemenl
1he compuny hus u well·sliucluied wusle
munugemenl syslem ul ull íls munulucluiíng loculíons
whích lukes ínlo uccounl ISOl4000 iequíiemenls. Oui
locus ís on mínímísíng wusle geneiuled ín íls plunls.
In ull íls opeiulíons, lhe lolul solíd wusle íwusle
iuhhei, sciup lyie, iuhheiísed luhiíc elc.! geneiuled
hus come down liom lº,500 meliíc lon ín IYl4 lo
l5,l4º meliíc lon ín lhe iepoilíng peiíod.
Conseivulíon ol Bíodíveisíly ul oui plunl loculíons
Apollo ís commílled lo piolecl und ímpiove íls
envíionmenl lo cieule u posílíve ímpucl on lhe
ecosyslem. Wílh lhís ín mínd, seveiul ínílíulíves huve
heen cuiiíed oul íncludíng wusle munugemenl,
pioleclíon ol híodíveisíly, liee plunlulíon, elc.
· B|oJ|vcrs|ry lnlanccmcnr
1he compuny hus mupped lhe ímpucl on híodíveisíly
ín íls munulucluiíng loculíons lhiough loimul iísk und
ímpucl ussessmenl sludíes. As un oulcome ol lhís
sludy, híodíveisíly conseivulíon pio[ecls weie
ínílíuled ul oui Feiumhiu und Kulumusseiy plunls.
1hese weie:
Ievelopmenl ol snuke iepellenl shiuhs ul lhe
Feiumhiu plunl: Shiuhs lhul iepel snukes weie
plunled ín uieus ol hígh snuke densíly lo secuie
lhe muín munulucluiíng piemíses,
Apículluie ul lhe Feiumhiu plunl: Boxes loi
heehíves weie pluced on iuhhei liees loi honey
colleclíon.
l00
¯5
50
25
0
1O1AL WA1LR WI1HIRAWAL BY SOURCL
l|qurcs |n "
S
u
i
lu
c
e
w
u
le
i
0.3
ºS.3
l.l
G
i
o
u
n
d
w
u
le
i
0.3
R
u
ín
w
u
le
i
c
o
lle
c
le
d
u
n
d
s
lo
i
e
d
M
u
n
íc
íp
u
l
w
u
le
i
s
u
p
p
líe
s
l|qurc 14
1ora| annua| warcr w|rlJrawa|. óó,51,959 m 
1lc sna|c rcpc||cnr bc|r anJ jru|r rrcc qarJcn w|rl|n rlc p|anr prcm|scs ar la|amasscry anJ Icrambra |n lnJ|a
1heme guidens ul lhe Feiumhiu und
Kulumusseiy plunls: Bulleilly guidens, liuíl liee
und heihul guidens weie sel up wílh ielevunl
lloiu specíes.
Buselíne suiveys huve heen conducled loi lhe olhei
plunls lo ídenlíly híodíveisíly conseivulíon pio[ecls
whích wíll he ínílíuled ín lhe neui luluie.
INNOVA1ION
1o uchíeve lhe goul ol hecomíng u pieleiied glohul
hiund ín lhe lyie índusliy, Apollo ís conlínuously
seekíng lo develop susluínuhle lechnologíes und
pioducls lhul ieduce iísks und íncieuse vulue loi oui
slukeholdeis.
1he compuny locuses on ieseuich und developmenl
ol new muleiíuls, compound developmenl, desígn
und símululíon lhul muke oui pioducls moie
compelílíve und envíionmenl liíendly.
Weíghl Reduclíon
1yie weíghl oplímísulíon wílhoul compiomísíng lyie
peiloimunce ís u piíoiíly loi lhe compuny. 1he
compuny oplímísed lhe muleiíul usuge hy 2% loi íls
hígh peiloimunce und ulliu·hígh peiloimunce lyie
iunge ín lhe iepoilíng peiíod, whích meuns ieduclíon
ín lolul muleiíul used. 1hiough lhís ínnovulíon, lhe
compuny ulso suves eneigy und loweis iollíng
iesíslunce, whích ín luin, loweis luel consumplíon ol
vehícles und ieduces lheíi CO emíssíons. 2
Use ol Sílícu 1echnology
1he compuny ís íncieusíngly usíng sílícu us
ieínloicemenl muleiíul ín pluce ol cuihon hluck,
whích ís pioduced hy huiníng pelioleum oíl, ín
developíng new lyies. 1hís helps us lo cul down lhe
use ol lossíl luel. Besídes, lyies wílh sílícu
ieínloicemenl gíve hellei luel ellícíency lo vehícles,
lheiehy, ieducíng CO emíssíon. Ioid´s upcomíng 2
vehícles wíll he usíng lhe pioducl iunge, Apollo 3G
Muxx.
Gieen Compound 1echnology
1he compuny hus ínvenled u new lieud compound
wílh lhe cuihon hluck ieínloicíng muleiíul whose
peiloimunce ín ieguids lo iollíng iesíslunce ís
equívulenl lo lhul ol lhe sílícu lieud compound. 1hís
gíves u wínníng edge lo íncieuse lyie luel ellícíency
wílhoul compiomísíng ín munulucluiíng cosl. 1hís
ínvenlíon lullíls lhe need ol new OL iequíiemenls ín
lhe Indíun muikel. 1he luigel loi lhe comíng yeuis ís
lo luilhei ímpiove lhe luhel vulues ol lhe exíslíng
pioducl línes.
54 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 55
FINANCIALS
DIPECTDPS' PEPDPT 59
CDPPDPATE SDvEPNANCE PEPDPT 89
STANDALDNE ACCDUNTS
- AUDITDPS' PEPDPT II4
- BALANCE SHEET II8
- STATEMENT DF PPDFIT & LDSS II9
- CASH FLDW STATEMENT I20
- NDTES I2I
CDNSDLIDATED ACCDUNTS
- AUDITDPS' PEPDPT I65
- BALANCE SHEET I70
- STATEMENT DF PPDFIT & LDSS I7I
- CASH FLDW STATEMENT I72
- NDTES I73
- INFDPMATIDN PEPTAININS TD
SUBSIDIAPIESf
ASSDCIATES f Jvs UfS I29(3) 220
56 APDLLD TYPES LTD ANNUAL PEPDPT 20I4-I5 57
A N N U A L R E P O R T 2 0 1 4 -1 5 | 5 9 5 8 | A P O L L O T YR E S L T D
D I R E C T O R S ’ R E P O R T
Dear Member,

0n behall ol Lhe Board ol DirecLors ol your Company, we share wiLh you Lhe Annual PeporL along wiLh Lhe audiLed lnan-
cial sLaLemenLs ol your Company lor Lhe lnancial year ended March 3I, 20I5.
F I N A N C I A L P E R F O R M A N C E
The Inancial perIormance oI Ihe Company Ior Ihe Inancial year ended March 3I, 20I5 is summarised below:
Ye a r e n d e d Ye a r e n d e d
P a rtic u la rs 3 1 . 0 3 . 2 0 1 5 3 1 . 0 3 . 2 0 1 4 3 1 . 0 3 . 2 0 1 5 3 1 . 0 3 . 2 0 1 4
Standalone Consolidated
Net Sales
Other I ncome
0peraLing ProlL (EBIDTA)
Less. DepreciaLionfAmorLisaLion Exp.
FinanceCost
Provision lor Tax
NeL ProlL belore ExcepLional ILems
Add. ExcepLional ILems
88,783
97I
I3,530
2,468
I,72I
2,890
6,45I
-
86,I0I
I,809
II,78I
2,480
2,446
I,7I8
5,I37
(7II)
I27,257
I,I33
I9,844
3,883
I,828
3,532
I0,60I
(825)
I33,I03
I,995
I9,734
4,I09
2,838
2,268
I0,5I9
(468)
Net Proñt 6,45I 4,426 9,776 I0,05I
O P E R A T I O N S
IL was Lough year lor Lyre makers and Lhis is relecLed in sales growLh numbers aL Apollo Tyres LLd.
On a standalonebasis, your Companyachieved a net turnover of 88,783 million as againsL 86,I0I million during Lhe
previous lnancial year. EBIDTA was aL I3,530 million as compared Lo II,78I million during Lhe previous lnancial
year. The neL prolL lor Lhe year under review was 6,45I million, as againsL 4,426 million in Lhe previous lscal, a
growLh ol 46º.
The consolidaLed neL Lurnover ol your Company was I27,257 million during FYI5, as compared Lo I33,I03 million
in FYI4, due Lo resLrucLuring ol SouLh Alrica 0peraLions. The consolidaLed EBIDTA was I9,844 million lor FYI5 as
compared to I9,734 million lor Lhe previous lnancial year. 0n consolidaLed basis, Apollo Tyres earned neL prolL ol
9,776 million lor FYI5 as againsL I0,05I million lor Lhe previous lnancial year.
R A W M A T E R I A L S
During Lhe year, Lhe raw maLerial cosL declined around 9º over Lhe lasL year.
NaLural Pubber prices ruled lower in FYI5 due Lo weak demand lrom ma|or consuming blocks. The domesLic rubber
producLion in India conLinues Lo lall shorL ol Lhe demand and imporLs ol rubber lrom Thailand, Malaysia and Indonesia
werenecessaryto offset theshortfall in domestic supplies.
I n order to ensure long termsustainability of our natural rubber supply chain, your Company supported the Kerala
0overnmenL scheme ol sourcing domesLic rubber aL 20º higher Lhan inLernaLional prices.
BrenL Crude oil prices came down during Lhe laLer parL ol Lhe year Louching a low ol USD 45fbbl.This is primarily on
accounL ol 0PEC members conLinuing Lo mainLain Lheir producLion levels despiLe sLeady rise in producLion lrom Non
0PEC producers.
Synthetic Rubber prices remained subdued in theyear under review, in view of general weakness in commodities and also
dueto softness in its inputs. Other Crudebased raw materials such as carbon black displayed a similar trend.
The anLi-dumping duLy conLinued on imporLs ol Nylon Tyre Cord labric lrom China and carbon black imporLs lrom China,
Thailand and Pussia . AnLidumping duLy peLiLion has also been lled lor imporLs ol carbon black lrom Korea. In addiLion
Lhe anLidumping on cerLain rubber chemicals lrom China and Korea was increased during Lhe lasL lscal.
The average exchange raLe ol rupee has weakened by around Iº againsL Lhe US dollar during Lhe previous year.
The Company's locus on liquidiLy managemenL and risk miLigaLion Lhrough alLernaLe source developmenL conLinued
duringtheyear.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 6 1 6 0 | A P O L L O T YR E S L T D
I n I ndia with theGovernment committed to investment in I nfrastructure, it should augur well for theautomobileand the
Lyre indusLry. The raw maLerial prices are likely Lo recover in Lhe laLer parL ol Lhe year wiLh improvemenL in auLomobile
demand and pick-up in economic activity.
D I VI D E N D
Your Company has a consisLenL Lrack record ol dividend paymenL. The DirecLors are pleased Lo recommend a dividend ol
2 f- (200º) per share ol If- each on EquiLy Share CapiLal ol Lhe Company lor FYI5 lor your approval. There will be no
Lax deducLion aL source on dividend paymenLs, buL your Company will have Lo bear Lax on dividend _ 20.36 º, inclusive
of surcharge.
The dividend, il approved, shall be payable Lo Lhe shareholders regisLered in Lhe books ol Lhe Company and Lo Lhe benelcial
owners as per deLails lurnished by Lhe deposiLories, deLermined wiLh relerence Lo Lhe book closure lrom AugusL 6, 20I5
Lo AugusL II, 20I5 (boLh days inclusive).
R E S E R VE S
The amounL available lor appropriaLions, including surplus lrom previous year amounLed Lo I7,57I.27 million. Surplus
of I5,045.97 million has been carried lorward Lo Lhe balance sheeL alLer providing lor dividend ol I,0I8.05 million,
dividend Lax ol 207.25 million, debenLure redempLion reserve ol 300.00 million and general reserve ol I000.00
million.
R E S T R U C T U R I N G
Apollo Tyres Alrica ProprieLary LimiLed, subsidiary in SouLh Alrica (Lhe residual operaLion alLer Lhe sale ol Lhe
main business Lo SumiLomo Pubber IndusLries lasL year) volunLarily iniLiaLed Business Pescue Proceedings on
SepLember I5, 20I4, as per Lhe provisions ol Lhe SouLh Alrica Companies AcL due Lo prevailing adverse business
conditions. A Business Rescue Plan, to help the Subsidiary Company to restructure its operations, was submitted to
Companies and InLellecLual ProperLy Commission (CIPC) on 0cLober 22, 20I4.
Due to uncompetitive cost structure and continuous labour unrest and related activities resulting in lack of viability,
Company decided Lo close Lhe Durban manulacLuring planL w.e.l. November 30, 20I4 which impacLed around 600
personnel.
Business Pescue proceedings were LerminaLed on March II, 20I5 alLer Lhe successlul implemenLaLion ol Lhe business
rescue plan. Now Lhe aloresaid Subsidiary Company has reLurned Lo a sLaLus ol 'in business'. A noLice lor conlrming Lhe
termination of Business RescueProcess has been submitted to Commissioner of Companies and I ntellectual Property
Commission (CIPC) on March I2, 20I5.
The Company conLinues iLs Lrading acLiviLies in Alrica, selling boLh Apollo and vredesLein branded Lyres LhroughouL Lhe
continent.
B O A R D O F D I R E C T O R S
A ) A p p o in tm e n t/R e -a p p o in tm e n t o f D ire c to rs
PursuanL Lo Lhe provisions ol secLion I52 ol Lhe Companies AcL, 20I3 and in accordance wiLh provisions ol ArLicles
ol AssociaLion ol Lhe Company, Mr Sunam Sarkar(DIN.00058859), DirecLor ol Lhe Company, is liable Lo reLire by
rotation and beingeligible, offers himself for re-appointment.
Mr Sunam Sakar is noL disqualiled under SecLion I64(2) ol Lhe Companies AcL, 20I3.
B ) C h a n g e s in D ire c to rs a n d K e y M a n a g e ria l P e rs o n n e l
During Lhe year under review, Mr U S 0beroi (DIN.00058606), Chiel (CorporaLe Allairs) & Whole Lime DirecLor,
ceased Lo be a DirecLor ol Lhe Company wiLh ellecL lrom November 26, 20I4.
Mr K dacob Thomas (DIN.000I5603) has resigned lrom Lhe DirecLorship ol Lhe Company wiLh ellecL lrom
May 8, 20I5.
Mr Pa| Baner|i was appoinLed as Lhe Chiel Financial 0llcer, wiLh ellecL lrom February 6, 20I5, in place ol
Mr Sunam Sarkar who was re-designaLed as PresidenL & Chiel Business 0llcer and Whole Time DirecLor. However,
Mr Pa| Baner|i has resigned wiLh ellecL lrom April 30, 20I5. His resignaLion was precipiLaLed due Lo lundamenLal
change Lo Lhe sLrucLure ol his role which would have required him Lo relocaLe Lo India having recenLly relocaLed Lo
UK.
Mr 0aurav Kumar has been appoinLed as Chiel Financial 0llcer, wiLh ellecL lrom May I2, 20I5.
Ms Seema Thapar has been appoinLed as Company SecreLary ol Lhe Company wiLh ellecL lrom April I, 20I5 due Lo
reLiremenL ol Mr P N Wahal.
C ) D e c la ra tio n b y I n d e p e n d e n t D ire c to r(s )
In Lerms wiLh SecLion I49 (7) ol Lhe Companies AcL, 20I3, every IndependenL DirecLor ol Lhe Company has
submitted a declaration that theymeet thecriteria of I ndependence.
D ) F o rm a l A n n u a l E va lu a tio n
PursuanL Lo Lhe provisions ol Lhe Companies AcL, 20I3 Lhe Board is required Lo carry ouL annual evaluaLion ol iLs own
perlormance and LhaL ol iLs commiLLees and individual DirecLors. The NominaLion and PemuneraLion CommiLLee ol
Lhe Board is also required Lo carry ouL evaluaLion ol every DirecLor's perlormance. Accordingly your Company has
carried ouL Lhe Perlormance EvaluaLion as required during Lhe year under review.
For annual perlormance evaluaLion ol Lhe Board as a whole, iLs CommiLLee(s) and individual DirecLors including Lhe
Chairman ol Lhe Board, Lhe Company has lormulaLed a quesLionnaire Lo assisL in evaluaLion ol Lhe perlormance.
The Lool Lakes Lhe lorm ol a series ol asserLionsfquesLions which should be awarded a raLing on a scale ol I Lo 5
by all individual DirecLors. Every DirecLor has Lo lll Lhe quesLionnaire relaLed Lo Lhe perlormance ol Lhe Board, iLs
CommiLLees and individual DirecLors excepL himsell. 0n Lhe basis ol Lhe response Lo Lhe quesLionnaire, a lormal
annual evaluation has been made by the Board of its own performance and that of its Committees and individual
Directors.
E ) S e p a ra te M e e tin g o f I n d e p e n d e n t D ire c to rs
In Lerms ol requiremenLs under Schedule Iv ol Lhe Companies AcL, 20I3 and Clause 49 ol Lhe LisLing AgreemenL,
a separaLe meeLing ol Lhe IndependenL DirecLors was held on 0cLober 29, 20I4.
The IndependenL DirecLors aL Lhe meeLing reviewed Lhe lollowing.-
· Perlormance ol non independenL DirecLors and Board as a whole.
· Perlormance ol Lhe Chairperson ol Lhe Company, Laking inLo accounL Lhe views ol execuLive DirecLors and
non- execuLive DirecLors.
· Assess Lhe qualiLy, quanLiLy and Limeliness ol low ol inlormaLion beLween Lhe Company managemenL and Lhe
Board that is necessaryfor theBoard to effectivelyand reasonablyperformtheir duties.
F ) R e m u n e ra tio n P o lic y
The Board has, on Lhe recommendaLion ol Lhe NominaLion & PemuneraLion CommiLLee, laid down a NominaLion
& PemuneraLion policy lor selecLion and appoinLmenL ol Lhe DirecLors, Key Managerial Personnel and Senior
ManagemenL and Lheir remuneraLion. The Company's policy on DirecLors' appoinLmenL & remuneraLion is sLaLed in
theCorporateGovernanceReport.
P R O D U C T & M A R K E T I N G
For Apollo Tyres, iL was a year ol mainLaining iLs leadership posiLion in India, expanding Lhe producL porLlolio across Lhe
globeand pushinginto new markets.
The APMEA (Asia Pacilc, Middle EasL & Alrica) operaLions underLook mulLiple iniLiaLives like announcing Lhe sLarL ol Lhe
reLreading business in India, launching India's largesL loader Lyre aL Lhe IMME 20I4 or inLroducing Lhe ALT I88 TX Lyre
wiLh Lhe indusLry's lrsL LracLion Lread design. The Company inLroduced iLs Apollo and ManchesLer UniLed co-branded
Lyres in Thailand and launched a new cross ply Lechnology based Lyre, AWP-HD wiLh Apollo HDF Lechnology, lor Lhe
Indonesian markeL. IL opened iLs lrsL Apollo Zone in KuwaiL and conLinued wiLh Lhe brand building exercise wiLh iLs
Perlormance - There are no ShorLcuLs ¬ campaign during Lhe year.
Following a similar sLraLegy, Lhe EA (Europe & America) operaLions announced producL launches ol Lhe Apollo Alnac 40
¬ All Season and WinLer Lyres, vredesLein 0uaLrac 5 and SnowLrac 5 Lyres. The operaLion also embarked on a six-monLh
promoLional Lour across 8 counLries in Europe Lo inLroduce iLs lull range ol Apollo branded indusLrial Lyres Lo end users
and tyrespecialist.
Your Company exporLs Lo over I00 counLries across Lhe globe. The producLs, including heavy and lighL commercial Lyres,
passenger car Lyres, eLc are lnding accepLance in many markeLs due Lo Lhe high producL qualiLy.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 6 3 6 2 | A P O L L O T YR E S L T D
E XP A N S I O N P R O G R A M M E A N D F U T U R E O U T L O O K
The Company seeks a higher markeL share in Lhe European region. CurrenLly, Lhe Company is unable Lo lully meeL Lhe
demand in Europe lor iLs Lyres due Lo capaciLy consLrainLs. In lighL ol demand supply siLuaLion in Europe a 0reenleld
Pro|ecL in Hungary will be esLablished in nexL 4 years, aL a pro|ecL cosL ol approximaLely Euro 500 million. This will be
lunded wiLh inLernal accruals and debL aL Lhe European subsidiary level. The planned capaciLy is expecLed Lo be 5.5 Mn
Passenger Car Tyres (PCP) per annum and 675,000 Truck Bus Padial Tyres (TBP) per annum.
FurLher, Lhe Company sees a huge poLenLial in Lhe ASEAN region. As a way lorward, Lhe Company will conLinue Lo
lollow iLs sLaLed policy ol seeking growLh opporLuniLies. The Company will look aL capaciLy expansion, 0reenlelds and
Brownlelds in line wiLh iLs overall growLh sLraLegy. 0ne ol Lhe key pillars lor Lhe Company's success will be Lechnology.
To lurLher sLrengLhen Lhis, Lhe Company has seLup a commercial vehicle Lyre P&D laciliLy in Chennai, India, as well as a
passenger vehicle Lyre P&D cenLre in Lhe NeLherlands.
During Lhe year, Lhe Board has approved a capiLal expendiLure ol USD 340 million lor an expansion aL Lhe Chennai planL
lor Lhe Truck & Bus radial Lyre capaciLy lrom Lhe presenL 6000 Lyres per day Lo 8900 Lyres per day and aL Kalamassery
planL lor Conversion ol Lhe company's leased operaLions lrom bias Lruck Lyres Lo specialiLyfindusLrial Lyres.
M A T E R I A L C H A N G E S A N D C O M M I T M E N T S
No maLerial changes and commiLmenLs allecLing Lhe lnancial posiLion ol your Company have occurred beLween Lhe end
ol Lhe lnancial year ol Lhe Company Lo which Lhe lnancial sLaLemenLs relaLe and on Lhe daLe ol Lhis reporL.
S I G N I F I C A N T M A T E R I A L O R D E R S P A S S E D B Y R E G U L A T O R S
No signilcanL and maLerial orders have been passed during Lhe year under review by Lhe regulaLors or courLs or Lribunals
impacLing Lhe going concern sLaLus and Company's operaLions in luLure.
C H A N G E I N T H E N A T U R E O F B U S I N E S S , I F A N Y
There is no change in Lhe naLure ol business ol your Company during Lhe year under review.
I N T E R N A L F I N A N C I A L C O N T R O L S
The Company has idenLiled and documenLed all key inLernal lnancial conLrols, which impacLs Lhe lnancial sLaLemenLs,
as parL ol iLs SLandard 0peraLing Procedures (S0Ps). The S0Ps are designed lor all criLical processes across all planLs,
warehouses and ollces wherein lnancial LransacLions are underLaken. The S0Ps cover Lhe sLandard processes, risks, key
conLrols and each process is idenLiled Lo a process owner. The lnancial conLrols are LesLed lor operaLing ellecLiveness
through management ongoingmonitoringand review process and independentlybytheI nternal Audit. I n our view the
InLernal Financial ConLrols, ellecLing Lhe lnancial sLaLemenLs are adequaLe and are operaLing ellecLively.
M A N A G E M E N T D I S C U S S I O N A N D A N A L YS I S R E P O R T
As required by clause 49 ol Lhe lisLing agreemenL wiLh Lhe SLock Exchanges, a deLailed ManagemenL Discussion and
Analysis Report is presented in a separatesection formingpart of theannual report.
S U B S I D I A R Y/A S S O C I A T E & J O I N T VE N T U R E C O M P A N I E S
As theCompanyfollows its global ambition to becomea global tyrebrand of choice, it had to createmultiplesubsidiaries/
associaLe and |oinL venLure lor laciliLaLing Lhese operaLions in various counLries. As on March 3I 20I5, your Company has
35 subsidiaries including sLep subsidiaries, I associaLe and I |oinL venLure.
During Lhe year under review, Lhe Company had incorporaLed Apollo Tyres (0reenleld) Co- 0peraLiel U.A as iLs subsidiary
on dune 4, 20I4 in AmsLerdam.
Apollo Tyres B.v had incorporaLed Apollo Tyres Hungary KlL as iLs wholly owned subsidiary on dune 4, 20I4 in Hungary.
Apollo Tyres (UK) PvL. LLd. had incorporaLed Apollo Tyres PropvesL (UK) LLd. as iLs wholly owned subsidiary on December
I2, 20I4 in London.
Apollo Tyres (Lao) Co. LLd, wholly owned subsidiary ol Apollo Tyres Holdings (Singapore) PLe LLd. was wound up on
May I9, 20I4.
Apollo AcquisiLion Corp wholly owned subsidiary ol Apollo Tyres B.v was wound up on March I3, 20I5.
UK ATL Holdings LimiLed, along wiLh iLs subsidiaries viz. Dunlop Zimbabwe (PLy) LLd., Padun InvesLmenLs PLy LLd,
and AFS Mining (PvL) LLd and associaLe viz. NaLional Tyre Services LLd., ceased Lo be subsidiaries and associaLe ol Lhe
Company w.e.l March 3, 20I5.
As per Lhe provisions ol secLion I29 ol Lhe Companies AcL, 20I3, Lhe consolidaLed lnancial sLaLemenLs ol Lhe Company
and iLs subsidiaries are aLLached in Lhe annual reporL. A sLaLemenL conLaining briel lnancial deLails ol all Lhe subsidiaries
ol Lhe Company lor Lhe year ended March 3I, 20I5 lorms parL ol Lhe annual reporL. The annual accounLs ol subsidiary
companies will be made available Lo shareholders on requesL and will also be kepL lor inspecLion by any shareholder
aL Lhe regisLered ollce and corporaLe headquarLer ol your Company. A sLaLemenL in Form A0C-I conLaining Lhe salienL
leaLure ol Lhe lnancial sLaLemenLs ol Lhe Company's subsidiaries, associaLe and |oinL venLure is also aLLached wiLh
lnancial sLaLemenLs.
D E B E N T U R E S
The lollowing series ol DebenLures were redeemed during Lhe year.
R e d e m p tio n D a te P a rtic u la rs R e d e m p tio n A m o u n t
( M illio n )
AugusL 30, 20I4 I0.I0º 2000 Non ConverLible DebenLures - Un-Secured 2,000
December I6, 20I4 09.70º I000 Non ConverLible DebenLures - Un-Secured I,000
February 2, 20I5 II.50º I000 Non ConverLible DebenLures - Secured 4I7
March 29, 20I5 I0.I5º I000 Non ConverLible DebenLures - Secured I,000

D E P O S I T S
During Lhe year under review, your Company did noL accepL deposiLs covered under ChapLer v ol Lhe Companies AcL 20I3.
A U D I T O R S
Mfs. DeloiLLe Haskins & Sells, Chennai, CharLered AccounLanLs, (PegisLraLion No.008072S), had been appoinLed as
SLaLuLory AudiLors ol your Company, lor a period ol Lhree years lrom FYI5 Lo FYI7 aL Lhe Annual 0eneral MeeLing held
on AugusL 6, 20I4. However, as per Lhe lrsL proviso ol SecLion I39 (I) ol Lhe Companies AcL, 20I3, Lhe appoinLmenL ol
audiLors has Lo be raLiled by Lhe members aL every annual general meeLing.
The Company has received a leLLer lrom Lhe audiLors conlrming LhaL Lhey are eligible lor re-appoinLmenL as audiLors ol
Lhe Company under secLion I39 ol Companies AcL, 20I3 and meeL Lhe criLeria lor appoinLmenL speciled in secLion I4I
ol Lhe Companies AcL, 20I3.
Based on Lhe recommendaLions ol Lhe AudiL CommiLLee and as per Lhe provisions ol SecLion I39 (I), ol Lhe Companies
AcL, 20I3 Lhe Board ol DirecLors ol your Company proposes Lo raLily Lhe appoinLmenL Mfs. DeloiLLe Haskins & Sells,
Chennai, CharLered AccounLanLs, as Lhe SLaLuLory AudiLors ol Lhe Company lor FYI6.
A U D I T O R S ’ R E P O R T
The commenLs on sLaLemenL ol accounLs relerred Lo in Lhe reporL ol Lhe audiLors are sell explanaLory. The AudiLors'
PeporL does noL conLain any qualilcaLion, reservaLion or adverse remark.
C O S T A U D I T
Mfs N P 0opalakrishnan & Co., CosL AccounLanLs, were appoinLed wiLh Lhe approval ol Lhe Board Lo carry ouL Lhe cosL
audiL in respecL ol Lhe Company's laciliLies aL Perambra, vadodara and Chennai as well as Company's leased operaLed
planL aL Kalamassery lor Lhe FYI5.
Based on Lhe recommendaLion ol Lhe AudiL CommiLLee, Mfs. N P 0opalakrishnan & Co., CosL AccounLanLs, being eligible,
have also been appoinLed by Lhe Board as Lhe CosL AudiLors lor FYI6 sub|ecL Lo shareholder's approval. The Company has
received a letter fromthemto theeffect that their re-appointment would bewithin thelimits prescribed under Section
I4I(3)(g) ol Lhe Companies AcL, 20I3 and LhaL Lhey are noL disqualiled lor such re-appoinLmenL wiLhin Lhe meaning ol
SecLion I4I ol Lhe Companies AcL, 20I3.
M E E T I N G S O F T H E B O A R D O F D I R E C T O R S
A calendar ol meeLings is prepared and circulaLed in advance Lo Lhe DirecLors. During Lhe year 5 (lve) board meeLings were
convened and held. The inLervening gap beLween Lhe meeLings was wiLhin Lhe period prescribed under Lhe Companies
AcL, 20I3 and Lhe LisLing AgreemenL wiLh SLock Exchanges. The deLails ol all BoardfCommiLLee meeLings held are given
in theCorporateGovernanceReport.
E XI T /D E L I S T I N G F R O M S T O C K E XC H A N G E
SecuriLies and Exchange Board ol India (SEBI) has granLed exiL order daLed December 23, 20I4 Lo Lhe Cochin SLock
Exchange (CSE) and Lhe SLock Exchange has reLurned iLs license Lo SEBI. In lighL ol Lhe said order, all Lhe provisions
ol LisLing AgreemenL, would be applicable Lo Companies lisLed wiLh CSE, Lill Lhe quarLer ended December 3I, 20I4. As
Lhe Cochin SLock Exchange is no longer in exisLence, your Company would remain lisLed on Lhe SLock Exchanges namely
NSE & BSE.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 6 5 6 4 | A P O L L O T YR E S L T D
A U D I T C O M M I T T E E
The deLails ol Lhe AudiL CommiLLee including iLs composiLion and Lerms ol relerence menLioned in Lhe CorporaLe
0overnance PeporL lorms parL ol DirecLors' PeporL.
The Board, during Lhe year under review, had accepLed all recommendaLions made Lo iL by Lhe AudiL CommiLLee.
VI G I L M E C H A N I S M / WH I S T L E B L O WE R P O L I C Y
The Company has lormulaLed a vigil mechanism Lhrough WhisLle Blower Policy Lo deal wiLh insLances ol uneLhical
behaviour, acLual or suspecLed, lraud or violaLion ol Company's code ol conducL or eLhics policy. The deLails ol Lhe policy
is explained in Lhe CorporaLe 0overnance PeporL and also posLed on Lhe websiLe ol Lhe Company.
C O M M I T T E E S O F B O A R D
PursuanL Lo requiremenL under Companies AcL, 20I3 and LisLing AgreemenL, Lhe Board ol DirecLors has consLiLuLed various
commiLLees ol Board such as AudiL CommiLLee, NominaLion & PemuneraLion CommiLLee, SLakeholders PelaLionship
CommiLLee and CorporaLe Social PesponsibiliLy CommiLLee. The deLails ol composiLion and Lerms ol relerence ol Lhese
committees arementioned in theCorporateGovernanceReport.
S H A R E C A P I T A L
During the year under review, the I ssued, Subscribed and Paid-up Share Capital of the Company has been
increased lrom 50,40,24,770 Shares ol I each Lo 50,90,24,770 shares ol I each, due Lo alloLmenL ol 50,00,000
EquiLy Shares ol lace value ol I each on dune I9, 20I4, pursuanL Lo conversion ol 50,00,000 warranLs issued Lo
promoLers on December 2I, 20I2 on prelerenLial basis.
a ) I s s u e o f e q u ity s h a re s with d iffe re n tia l rig h ts
Your Company has noL issued any EquiLy Shares wiLh dillerenLial righLs during Lhe year under review.
b ) I s s u e o f s we a t e q u ity s h a re s
Your Company has noL issued any SweaL EquiLy Shares during Lhe year under review.
c ) I s s u e o f e m p lo ye e s to c k o p tio n s
Your Company has noL issued any employee sLock opLions during Lhe year under review.
d) Provision of money by Company for purchase of its own shares by empIoyees or by trustees for the beneñt of
e m p lo ye e s
Your Company has noL made any provision ol money lor purchase ol iLs own Shares by employees or by LrusLees lor
Lhe benelL ol employees during Lhe year under review.
P A R T I C U L A R S O F L O A N S , G U A R A N T E E S O R I N VE S T M E N T S U N D E R S E C T I O N 1 8 6
Duringtheyear under review, your Companyhas not given anyloan or guaranteewhich is covered under theprovisions
ol SecLion I86 ol Lhe Companies AcL, 20I3. However, deLails ol invesLmenL made during Lhe year, are given under noLes
to theFinanacial Statements.
R E L A T E D P A R T Y T R A N S A C T I O N S
All conLracLs f arrangemenLs f LransacLions enLered by Lhe Company during Lhe lnancial year wiLh relaLed parLies were
in Lhe ordinary course ol business and on an arm's lengLh basis and do noL aLLracL Lhe provisions ol SecLion I88 ol Lhe
Companies AcL, 20I3. During Lhe year, Lhe Company had noL enLered inLo any conLracL f arrangemenL f LransacLion wiLh
related parties which could beconsidered material in accordancewith thepolicyof theCompanyon materialityof related
partytransactions.
SuiLable disclosure as required by Lhe AccounLing SLandards (ASI8) has been made in Lhe noLes Lo Lhe Financial
SLaLemenLs. The policy on PelaLed ParLy TransacLions as approved by Lhe Board is uploaded on Lhe Company's websiLe.
M A N A G E R I A L R E M U N E R A T I O N
a) The deLails required pursuanL Lo Pule 5(I) ol Lhe Companies (AppoinLmenL and PemuneraLion ol Managerial
Personnel) Pules, 20I4 are provided in Lhe CorporaLe 0overnance PeporL.
b) During Lhe year under review, Mr Neera| Kanwar(DIN.0005895I), vice Chairman & Managing DirecLor also received
remuneraLion lrom Apollo Tyres (UK) PvL. LLd., wholly owned subsidiary ol Lhe Company.
P A R T I C U L A R S O F E M P L O YE E S
ParLiculars ol employees as required in Lerms ol Lhe provisions ol SecLion I97 ol Lhe Companies AcL, 20I3, read wiLh rule
5(2) ol Lhe Companies (AppoinLmenL and PemuneraLion ol Managerial Personnel) Pules, 20I4, are seL ouL in Annexure A
Lo Lhe DirecLors' PeporL.
P R E VE N T I O N O F S E XU A L H A R A S S M E N T O F WO M E N A T WO R K P L A C E
Your Company has in place a lormal policy lor prevenLion ol sexual harassmenL ol iLs women employees in line wiLh ¨The
Sexual HarassmenL ol Women aL Workplace (PrevenLion, ProhibiLion and Pedressal) AcL, 20I3.
During Lhe year under review, Lhere were no cases lled pursuanL Lo Lhe Sexual HarassmenL ol Women aL Workplace
(PrevenLion, ProhibiLion and Pedressal) AcL, 20I3.
S E C R E T A R I A L A U D I T O R
PursuanL Lo provisions ol SecLion 204 ol Lhe Companies AcL, 20I3 and Lhe Companies (AppoinLmenL and PemuneraLion
ol Managerial Personnel) Pules, 20I4, your Company has appoinLed Mfs .P.I. & AssociaLes, Company SecreLaries as
SecreLarial AudiLor ol Lhe Company lor FYI5 Lo underLake SecreLarial AudiL ol Lhe Company.
The SecreLarial AudiL PeporL does noL conLain any qualilcaLion, reservaLion or adverse remark. SecreLarial AudiL PeporL
given by SecreLarial AudiLors is annexed wiLh Lhe reporL as Annexure I.
A WA R D S A N D R E C O G N I T I O N S
In iLs consLanL quesL lor growLh and achievemenL, your Company was honoured and recognised aL various lorums. The
prominent Awards arelisted below for your reference.
N a m e o f th e A wa rd C a te g o ry A wa rd e d B y
I ntermedia Globe Advertising World Media FesLival ¬ 0lobal CompeLiLion
for Modern Media
InvesLor ol Lhe Year 20I4 LargesL 0reenleld InvesLmenL
of theyear
Agency (HIPA) and Lhe MinisLry ol Foreign
Allairs and Trade
0u|araL SLaLe Level 0ualiLy Circle
CompeLiLion 20I5
- CI I
Asia's BesL Company Lo work lor 20I4 Auto Component 0reaL Place Lo Work 20I4
India's BesL Company lor CSP Auto Ancillary The Economic Times
Pubber Man ol Lhe Year - Rubber Asia
NexL 0eneraLion Leader Award 20I4 - ManulacLuring Today
NaLional ProducLiviLy CompeLiLion 20I4 - Indian InsLiLuLe ol IndusLrial Engineering
(IIIE)
The SMAPTIES India Awards 20I4 I n-App AdvertisingGamingor
Other
Mobile MarkeLing AssociaLion (MMA)
India's BesL Company Lo work lor 20I4 Auto Component 0reaL Place Lo Work 20I4

R I S K M A N A G E M E N T
The Company has a well laid ouL Pisk ManagemenL Policy, covering Lhe process ol idenLilying, assessing, miLigaLing,
reporLing and reviewing criLical risks impacLing Lhe achievemenL ol Company's ob|ecLives or LhreaLen iLs exisLence.
The Pisk ManagemenL SLeering CommiLLees have been lormed headed by PresidenL (APMEA) and PresidenL(EA) as
Chairman ol Lhe respecLive CommiLLees and represenLed by Lhe luncLional heads as Chiel Pisk 0llcers .The CommiLLees
review each risk on a quarLerly basis, and evaluaLe iLs impacL and plans iLs miLigaLion. The risks are documenLed in lorm
ol risk regisLer, which is placed belore audiL commiLLee, aL iLs meeLing. The audiL commiLLee ol Lhe Company reviews Lhe
risks ol APMEA and EA regions and provides iLs direcLions Lo Lhe managemenL, il any. The audiL commiLLee updaLes Lhe
Board on thekeyrisks placed beforeit.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 6 7 6 6 | A P O L L O T YR E S L T D
C O R P O R A T E S O C I A L R E S P O N S I B I L I T Y
Your Company has been Laking iniLiaLives under CorporaLe Social PesponsibiliLy (CSP) lor socieLy aL large, well belore
iL has been prescribed Lhrough Lhe Companies AcL 20I3. The Company has a well delned Policy on CSP as per Lhe
requiremenL ol SecLion I35 ol Lhe Companies AcL, 20I3 which covers Lhe acLiviLies as prescribed under Schedule vII ol
Lhe Companies AcL, 20I3. The Company has in-house deparLmenL which is exclusively working Lowards LhaL 0b|ecLive.
The Company is carrying ouL iLs CSP AcLiviLies Lhrough regisLered LrusL creaLed by Lhe Company lor Lhis purpose and
which is monitored byCSR Committee.
Duringtheyear under review, your Companyhas carried out activities primarilyrelated to promotingpreventivehealth,
ensuring environmenLal susLainabiliLy, livelihood enhancemenL pro|ecLs, rural developmenL pro|ecLs, promoLing educaLion
and eradicLing ol hunger, poverLy & malnuLriLion.
CorporaLe Social PesponsibiliLy PeporL, pursuanL Lo clause (o) ol sub-secLion (3) ol SecLion I34 ol Lhe AcL and Pule 9 ol
Lhe Companies (CorporaLe Social PesponsibiliLy) Pules, 20I4 lorms parL ol Lhe Boards PeporL as Annexure II.
C O N S E R VA T I O N O F E N E R G Y, T E C H N O L O G Y A B S O R P T I O N , F O R E I G N E XC H A N G E E A R N I N G S A N D O U T G O
ParLiculars required under SecLion I34 (3) (m) ol Lhe Companies AcL, 20I3 read wiLh rule 8 ol Lhe Companies (AccounLs)
Pules, 20I4, regarding conservaLion ol energy, Lechnology absorpLion and loreign exchange earnings and ouLgo, are given
in Annexure III, lorming parL ol Lhis reporL.
E XT R A C T O F T H E A N N U A L R E T U R N
The exLracL ol Lhe annual reLurn in Form M0T¬ 9 is enclosed herewiLh as Annexure Iv, lorming parL ol Lhis reporL.
C O R P O R A T E G O VE R N A N C E R E P O R T
Your Company always places ma|or LhrusL on managing iLs allairs wiLh diligence, Lransparency, responsibiliLy and
accounLabiliLy Lhereby upholding Lhe imporLanL dicLum LhaL an organisaLion's corporaLe governance philosophy is direcLly
linked to high performance.
The Company is commiLLed Lo adopLing and adhering Lo esLablished world-class corporaLe governance pracLices. The
Company undersLands and respecLs iLs lduciary role and responsibiliLy Lowards iLs sLakeholders and socieLy aL large, and
strives to servetheir interests, resultingin creation of valueand wealth for all stakeholders.
The compliance reporL on corporaLe governance and a cerLilcaLe lrom Mfs. DeloiLLe Haskins & Sells, Chennai, charLered
accountants, Statutory Auditors of the Company, regarding compliance of the conditions of corporate governance, as
sLipulaLed under clause 49 ol Lhe lisLing agreemenL wiLh Lhe sLock exchanges, is aLLached herewiLh as Annexure v Lo Lhis
report.
D I R E C T O R S ’ R E S P O N S I B I L I T Y S T A T E M E N T
As required by SecLion I34 (3) (c) ol Lhe Companies AcL, 20I3, your DirecLors sLaLe LhaL.
(a) in Lhe preparaLion ol Lhe annual accounLs lor Lhe lnancial year ended March 3I, 20I5, Lhe applicable accounLing
sLandards had been lollowed along wiLh proper explanaLion relaLing Lo maLerial deparLures,
(b) Lhe DirecLors had selecLed such accounLing policies and applied Lhem consisLenLly and made |udgmenLs and esLi-
mates that arereasonableand prudent so as to givea trueand fair view of thestateof affairs of theCompanyat the
end ol Lhe lnancial year and ol Lhe prolL and loss ol Lhe Company lor LhaL period,
(c) Lhe DirecLors had Laken proper and sullcienL care lor Lhe mainLenance ol adequaLe accounLing records in accord-
ance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting
lraud and oLher irregulariLies,
(d) Lhe DirecLors had prepared Lhe annual accounLs on a going concern basis,
(e) Lhe DirecLors had laid down inLernal lnancial conLrols Lo be lollowed by Lhe Company and LhaL such inLernal lnan-
cial conLrols are adequaLe and were operaLing ellecLively, and
(l) Lhe DirecLors had devised proper sysLems Lo ensure compliance wiLh Lhe provisions ol all applicable laws and LhaL
such sysLems were adequaLe and operaLing ellecLively.
A C K N O WL E D G E M E N T
Your Company's organisaLional culLure upholds prolessionalism, inLegriLy and conLinuous improvemenL across all
luncLions, as well as ellcienL uLilisaLion ol Lhe Company's resources lor susLainable and prolLable growLh.
Your DirecLors wish Lo place on record Lheir appreciaLion Lo Lhe respecLive SLaLe 0overnmenLs ol Kerala, 0u|araL, Haryana
and Tamil Nadu, and Lhe NaLional 0overnmenLs ol India, SouLh Alrica, Hungary and Lhe NeLherlands. We also Lhank our
customers, business partners, members, bankers and other stakeholders for their continued support during the year.
We place on record our appreciaLion lor Lhe conLribuLion made by all employees Lowards Lhe growLh ol your Company.
For and on behalf of theBoard of Directors
Place. 0urgaon (0nkar S Kanwar)
DaLe . May I2, 20I5 Chairman & Managing DirecLor
A N N U A L R E P O R T 2 0 1 4 -1 5 | 6 9 6 8 | A P O L L O T YR E S L T D
ANNEXUPE I
S E C R E T A R I A L A U D I T R E P O R T
F0P THE FINANCIAL YEAP ENDED 3IST MAPCH, 20I5
|PursuanL Lo secLion 204(I) ol Lhe Companies AcL, 20I3 and rule No.9 ol Lhe Companies (AppoinLmenL and
PemuneraLion Personnel) Pules, 20I4]

S E C R E T A R I A L A U D I T R E P O R T
For Lhe Financial Year Ended 3IsL March, 20I5

To,
The Members,
Apollo Tyres LimiLed.
(L25IIIKLI972PLC002449)
We have conducLed Lhe secreLarial audiL ol Lhe compliance ol applicable sLaLuLory provisions and Lhe adherence Lo good
corporaLe pracLices by Apollo Tyres LimiLed. (hereinalLer called ¨Lhe Company"). SecreLarial AudiL was conducLed in a
manner LhaL provided us a reasonable basis lor evaluaLing Lhe corporaLe conducLsfsLaLuLory compliances and expressing
our opinion thereon.
Based on our verilcaLion ol Lhe Company, books, papers, minuLe books, lorms and reLurns lled and oLher records
mainLained by Lhe company and also Lhe inlormaLion provided by Lhe Company, iLs ollcers, agenLs and auLhorized
representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during
Lhe audiL period covering Lhe lnancial year ended on 3IsL March, 20I5, Lhe Company has complied wiLh Lhe sLaLuLory
provisions listed hereunder and also that theCompanyhas proper Board-processes and compliance-mechanismin place
Lo Lhe exLenL based on Lhe managemenL represenLaLion leLLerf conlrmaLion, in Lhe manner and sub|ecL Lo Lhe reporLing
madehereinafter.
We have examined Lhe books, papers, minuLe books, lorms and reLurns lled and oLher records mainLained by Lhe Company
lor Lhe lnancial year ended on 3IsL March, 20I5, according Lo Lhe provisions ol.
(i) The Companies AcL, 20I3 (Lhe AcL) and Lhe rules made Lhereunder,
(ii) The SecuriLies ConLracLs (PegulaLion) AcL, I956 ('SCPA') and Lhe rules made Lhereunder,
(iii) The DeposiLories AcL, I996 and Lhe PegulaLions and Bye-laws lramed Lhereunder,
(iv) Foreign Exchange ManagemenL AcL, I999 and Lhe rules and regulaLions made Lhereunder Lo Lhe exLenL ol Foreign
DirecL InvesLmenL, 0verseas DirecL InvesLmenL and ExLernal Commercial Borrowings,
(v) The lollowing PegulaLions and 0uidelines prescribed under Lhe SecuriLies and Exchange Board ol India AcL, I992
('SEBI AcL').-
(a) The SecuriLies and Exchange Board ol India (SubsLanLial AcquisiLion ol Shares and Takeovers) PegulaLions,
20II,
(b) The SecuriLies and Exchange Board ol India (ProhibiLion ol Insider Trading) PegulaLions, I992,
(c) The SecuriLies and Exchange Board ol India (Issue ol CapiLal and Disclosure PequiremenLs) PegulaLions, 2009,
(d) The SecuriLies and Exchange Board ol India (Employee SLock 0pLion Scheme and Employee SLock Purchase
Scheme) 0uidelines, I999, (NoL applicable)
(e) The SecuriLies and Exchange Board ol India (Issue and LisLing ol DebL SecuriLies) PegulaLions, 2008,
(NoL applicable)
(l) The SecuriLies and Exchange Board ol India (PegisLrars Lo an Issue and Share Transler AgenLs) PegulaLions,
I993 regarding Lhe Companies AcL and dealing wiLh clienL,
(g) The SecuriLies and Exchange Board ol India (DelisLing ol EquiLy Shares) PegulaLions, 2009, (NoL applicable)
(h) The SecuriLies and Exchange Board ol India (Buyback ol SecuriLies) PegulaLions, I998, (NoL applicable)
(vi) 0Lher laws specilcally applicable Lo Lhe company.
(a) EnvironmenL (ProLecLion) AcL I986 and various rules made Lhere under.
(b) Air (PrevenLion and conLrol ol polluLion) AcL, I98I and rules made Lhere under.
(c) WaLer (PrevenLion and conLrol ol polluLion) AcL, I974 and rules made Lhere under.
(d) ApprenLices AcL, I96I and ApprenLiceship Pules, I992
(e) Arms AcL , I959
(l) Bombay Labour Wellare Fund AcL, I953 and Labour Wellare Fund (0u|araL) Pules, I962
(g) The CusLoms AcL, I962
(h) CenLral Excise AcL, I944 & CenvaL CrediL Pules, 2004
(i) CenLral Sales Tax AcL, I956 and CenLral Sales Tax (PegisLraLion and Turnover) Pule, I957
(|) CenvaL CrediL Pules, 2004
(k) Chennai CiLy Municipal CorporaLion AcL, I9I9 and rules made Lhere under.
(l) Child Labour (ProhibiLion & PegulaLion) AcL, I986
(m) CigareLLes & 0Lher Tobacco ProducLs AcL, 2003 & ProhibiLion ol Smoking in Public Places Pules, 2008
ConLracL Labour PegulaLion and AboliLion AcL, I970
(o) CusLoms valuaLion (DeLerminaLion ol value ol ImporLed 0oods) Pules, 2007
(p) ElecLriciLy AcL, 2003, and Indian ElecLriciLy Pules, I956f2005
(q) Employee DeposiL Linked Insurance Scheme, I976
(r) Employees CompensaLion AcL, I923 and rules made Lhere under.
(s) Employees ProvidenL Fund and Miscellaneous Provisions AcL I952
(L) Employees SLaLe Insurance AcL, I948
(u) EmploymenL Exchanges AcL, I959 and Pules made Lhere under.
(v) Equal PemuneraLion AcL, I976 and Equal PemuneraLion Pules, I976
(w) Explosives AcL, I884 and rules made Lhere under.
(x) FacLories AcL, I948
Finance AcL, I994 and Service Tax Pules, I994
(z) Food SaleLy and SLandards AcL, 2006 and rules and regulaLions made Lhere under.
(aa) Foreign Trade Policy
(bb) Foreign Trade ( DevelopmenL & PegulaLion) AcL, I992 and Foreign Trade ( PegulaLion ) Pules,I993
(cc) 0u|araL PanchayaLs, MunicipaliLies, Municipal CorporaLions AcL, I976 and rules made Lhere under
(dd) Haryana LilLs and EscalaLors AcL, 2008 and Haryana LilLs and EscalaLors Pules, 2009
(ee) Income Tax AcL, I96I and Income Tax Pules, I962
(ll) IndusLrial EmploymenL AcL, I946
(gg) InlormaLion Technology AcL, 2000 and rules made Lhere under
(hh) Kerala Labour Wellare Fund AcL, I975 and Kerala Labour Wellare Fund Pules, I977
(ii) Kerala MunicipaliLy AcL, I994
(||) Kerela IndusLrial EsLablishmenL AcL, I958 and Kerela IndusLrial EsLablishmenLs Pules, I959
(kk) Legal MeLrology Package CommodiLies Pules, 20II
(ll) MaLerniLy BenelL AcL, I96I
(mm) Minimum Wages AcL, I948
(nn) MoLor vehicles AcL, I988 and CenLral MoLor vehicles Pules, I989
(oo) PaymenL ol Bonus AcL, I965 and PaymenL ol Bonus Pules, I975
A N N U A L R E P O R T 2 0 1 4 -1 5 | 7 1 7 0 | A P O L L O T YR E S L T D
(pp) PaymenL ol 0raLuiLy AcL, I972
(qq) PaymenL ol Wages AcL I936
(rr) PeLroleum AcL, I934 and PeLroleum Pules, 2002
(ss) Prolessional Tax AcL,I987
(LL) Public LiabiliLy Insurance AcL, I99I and Public LiabiliLy Insurance Pules, I99I
(uu) Pun|ab Shops and Commercial EsLablishmenL AcL I958
(vv) Sexual HarassmenL ol Women AL Workplace PrevenLion, ProhibiLion Pedressal AcL, 20I3
(ww) Shipping Bill and Bill ol ExporL (Form) PegulaLions, I99I
(xx) The Tamil Nadu IndusLrial EsLablishmenLs (ConlermenL ol PermanenL Workmen) AcL, I98I and rules
madethereunder.
We have also examined compliance wiLh Lhe applicable clauses ol Lhe lollowing.
(i) SecreLarial SLandards issued by The InsLiLuLe ol Company SecreLaries ol India. (NoL Applicable)
(ii) The LisLing AgreemenLs enLered inLo by Lhe Company wiLh Lhe SLock Exchange(s), il applicable,
Duringtheperiod under review, theCompanyhas complied with theprovisions of theAct, Rules, Regulations, Guidelines,
Standards, etc. mentioned.
We fu rth e r re p o rt th a t:
The Board ol DirecLors ol Lhe Company is duly consLiLuLed wiLh proper balance ol ExecuLive DirecLors, Non-ExecuLive
DirecLors and IndependenL DirecLors. The changes in Lhe composiLion ol Lhe Board ol DirecLors LhaL Look place during Lhe
period under review werecarried out in compliancewith theprovisions of theAct.
AdequaLe noLice is given Lo all direcLors Lo schedule Lhe Board MeeLings, agenda and deLailed noLes on agenda were senL
aL leasL seven days in advance, and a sysLem exisLs lor seeking and obLaining lurLher inlormaLion and clarilcaLions on Lhe
agenda items beforethemeetingand for meaningful participation at themeeting.
Ma|oriLy decision is carried Lhrough while Lhe dissenLing members' views are capLured and recorded as parL ol Lhe minuLes.
We lurLher reporL LhaL Lhere are adequaLe sysLems and processes in Lhe company commensuraLe wiLh Lhe size and
operations of thecompanyto monitor and ensurecompliancewith applicablelaws, rules, regulations and guidelines.
We lurLher reporL LhaL during Lhe audiL period Lhe company has Lwo (2) evenLs and Lhe deLails ol which are as lollows.
i. The Company has alloLLed 50 lac equiLy shares ol If- each againsL receipL ol Lhe lull paymenL on exercise
ol opLion ol conversion ol 50 lac warranLs inLo equiLy shares in accordance wiLh Lhe Lerms and condiLions ol
issueof warrants.
ii. The Company has passed lollowing resoluLions by way ol posLal balloL.-
o LimiLs ol borrowing ufs I80(I)(c) upLo 50,000f- million, as special resoluLion &
o CreaLion ol securiLy ufs I80(I)(a) in connecLion wiLh Lhe borrowings, as special resoluLion.
F o r P I & A s s o c ia te s ,
C o m p a n y S e c re ta rie s
S d /-
S a k s h i S e th
P a rtn e r
ACS No..20740
C P No..8050
Place: Delhi
DaLe. May II, 20I5
ANNEXUPE II
A n n u a l R e p o rt o n C o rp o ra te S o c ia l R e s p o n s ib ility (C S R ) a c tivitie s fo r th e F in a n c ia l Ye a r 2 0 1 4 -1 5
1 . O u tlin e o f C o m p a n y’s C S R P o lic y
The CSP approach sLems lrom Company's vision sLaLemenL locusing on ¨conLinuously enhancing sLakeholder
value", which includes Lhe larger socieLy and environmenL in which Lhe Company operaLes.
CSP pro|ecLs or iniLiaLives linked wiLh social and environmenLal issues in which Lhe Company operaLes are rouLed
through registered trusts established bytheCompany
CSP policy ol Apollo covers all Lhe acLiviLies which are menLioned in Schedule vII ol Companies AcL, 20I3 buL
doesn'L include Lhe lollowing.
· AcLiviLies underLaken in pursuance ol normal course ol business ol Lhe Company
· AcLiviLies LhaL benelL only Lhe employees ol Lhe company and Lheir lamilies
· ConLribuLion Lo any poliLical parLy
Apollo has underLaken lollowing iniLiaLes which lollow a clear and well delned sLraLegy Lo ensure LhaL Lhe key needs
of communities aremet:
· EnvironmenLal IniLiaLives- HabiLAL Apollo is Company's umbrella environmenL programme under which
different initiatives such as Green OBin Paper recycling, employee engagement on environment sustain-
ability, afforestation, organic farmingand clean mytransport nagar etc. areundertaken
· Social IniLiaLives- Under social developmenL Lhe locus is on Lhe sLakeholder engagemenL and enriching Lhe
communiLies where we operaLe. The philosophy is ol sell reliance and revolves on Lhree principles i.e. inlu-
ence, involve and impacL. The programmes locus on public healLh issues, susLainable livelihood & income
generaLion, women empowermenL and communiLy mobilizaLion. Keeping in mind Lhe social iniLiaLives and
oLher issues, Company has underLaken dillerenL pro|ecLs viz. HIv-AIDS Awareness and PrevenLion Pro-
gramme on healLh lor cusLomers, , Pro|ecL U, livelihood programme lor communiLies, Improved Farming
PracLices lor larmers, hygiene & saniLaLion in schools, wasLe managemenL in communiLies.
All CSP pro|ecLs are reviewed on monLhly and quarLerly basis.
P ro je c ts o r P ro g ra m s p ro p o s e d to b e u n d e rta k e n
Followingaretheproposed initiatives which will beundertaken bytheCompany:
a ) E n viro n m e n ta l I n itia tive s
· Tree planLaLion wiLh ob|ecLive ol carbon sequesLering (programme already iniLiaLed)
· Bio diversiLy pro|ecL in Lhe communiLy around Kerala
· Bio diversiLy sLudy around Limda communiLy
· WasLe ManagemenL pro|ecL in Lhe communiLy around Chennai
· WaLer pro|ecL around Chennai
b ) S o c ia l I n itia tive s
· 3 new clinics
· 4 addiLional villages in Perambra
· 3 addiLional villages around Limda
· InLegraLion ol subsLance abuse piloL pro|ecL in one clinic
· Women lorum exLension Lo communiLy
· ExLension ol nuLriLion and healLh camp wiLh women in grading cenLre, KoLLayam
· Pro|ecL plan wiLh Lapper communiLy, KoLLayam
c ) P h ila n th ro p ic A c tivitie s
· SupporL Lo NaLional AssociaLion lor Blind
· SupporL Lo Kabli|i HospiLal lor underprivileged
· Sponsorship ol educaLion ol underprivileged girls in ULLarakhand (Him dyoLi School)
A N N U A L R E P O R T 2 0 1 4 -1 5 | 7 3 7 2 | A P O L L O T YR E S L T D
We b -lin k
The Company has lramed a CSP Policy in compliance wiLh Lhe provisions ol Lhe Companies AcL, 20I3 and Lhe same is placed
on Lhe Company's websiLe and Lhe web link lor Lhe same is hLLp.ffwww.apolloLyres.comfuploadsfcorporaLe-social-responsi-
bility-policy.pdf
2. The ComposiLion ol Lhe CSP CommiLLee.
CSR Committeecomprises of followingDirectors:
a. Mr Onkar S Kanwar, as Chairman of theCommittee
b. Dr S Narayan, as Member of theCommittee
c. Mr SunamSarkar, as Member of theCommittee
The Company SecreLary acLs as Lhe secreLary ol Lhe CommiLLee.
3. Average neL prolL ol Lhe company lor lasL Lhree lnancial years is 4,237 Million
4. Prescribed CSP ExpendiLure (Lwo per cenL ol Lhe amounL as in iLem 3 above) is 84.7 Million
5. DeLails ol CSP spenL during Lhe lnancial year.
(a) ToLal amounL Lo be spenL lor Lhe lnancial year is 84.7 Million
(b) AmounL unspenL is 27.9 Million
c) Manner in which the amount spent during the ñnanciaI year is detaiIed beIow. (AII ñgures in M illio n )
(1 ) (2 ) (3 ) (4 ) (5 ) (6 ) (7 ) (8 )
S . N o C S R p ro je c t o r a c tivity
identiñed
S e c to r in wh ic h
th e P ro je c t is
c o ve re d
P ro je c ts o r p ro g ra m s
(1 ) L o c a l a re a o r
o th e r
(2 ) S p e c ify th e S ta te
a n d d is tric t wh e re
p ro je c ts o r p ro g ra m s
wa s u n d e rta k e n
A m o u n t
o u tla y
(b u d g e t)
p ro je c t o r
p ro g ra m s
wis e
A m o u n t
s p e n t o n th e
p ro je c ts o r
p ro g ra m s
S u b – h e a d s :
(1 ) D ire c t
e x p e n d itu re
o n p ro je c ts o r
p ro g ra m s (2 )
O ve rh e a d s
C u m u la tive
e x p e n d itu re
u p to th e
re p o rtin g
p e rio d
A m o u n t s p e n t: D ire c t o r
th ro u g h
I m p le m e n tin g a g e n c y*
I HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
Care CenLre, vi|ayawa-
da, AndhraPradesh
I.62 I.54 1 . 5 4 I mplementingagency-
vasavya Mahila Mandali
2 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Guwa-
hati, Assam
I.68 I.67 1 . 6 7 I mplementingagency-
Global Organisationfor
LifeDevelopment
3 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Patna,
Bihar
I.54 0.7I 0 . 7 1 I mplementingagency-
StepFoundation
4 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Delhi,
Delhi
5.27 5.II 5 . 1 1 Direct
5 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
HealLh Care CenLre,
Ahmedabad & SuraL,
0u|araL
I.65 I.53 1 . 5 3 I mplementingagency-
KairaSocial ServiceSo-
cieLy & Ambu|a CemenL
Foundation
6 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
HealLh Care CenLre,
Barmana & Nalagarh,
Himachal Pradesh
I.56 I.56 1 . 5 6 I mplementingagency-
Himachal Pradesh vol-
unLary HealLh Associa-
Lion & Ambu|a CemenL
Foundation
7 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
HealLh Care CenLre,
Cochin, Kerala
I.9I I.43 1 . 4 3 DirecL & ImplemenL-
ing agency- Pa|iv YouLh
Foundation
8 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, I ndore,
MadhyaPradesh
I.59 I.5I 1 . 5 1 I mplementingagency-
ASPA Sama|ik Lok
Kalyan SamiLi & Adarsh
J anSevaSamiti,
Kha|rana
9 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Mumbai,
Nagpur & Pune, Maha-
rashtra
3.7I 3.48 3 . 4 8 I mplementingagency-
ALEPT INDIA, Young
Men's ChrisLian Associa-
Lion (YMCA) & Magmo
Wellare SansLha
I0 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Ludhi-
ana, Pun|ab
I.57 0.20 0 . 2 0 I mplementingagency-
Count I ndia
II HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
Care CenLre, daipur &
dodhpur, Pa|asLhan
2.80 2.63 2 . 6 3 I mplementingagency-
Societyfor I ntegrated
Developmental Activities
Pesearch & Training,
CounL India & Meera
Sansthan
I2 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
Apollo Tyres HealLh
CareCentre, Agra,
Kanpur & varansi,
Uttar Pradesh
4.86 4.86 4 . 8 6 I mplementingagency-
J anChetnaSewaSamiti
& dan Kalyan Maha
Samiti
I3 HIv-AIDS awareness &
preventionprogramme
(TargeLed InLervenLion)
PromotingPre-
venLive HealLh
HealLh Care CenLre,
Farakka & KolkaLa,
WesL Bengal
2.25 I.44 1 . 4 4 I mplementingagency-
Ambu|a CemenL Founda-
tion
I4 PiloL Pro|ecL on eye
checkupcamps organ-
isedfor truckers and
alliedpopulation
PromotingPre-
venLive HealLh
San|ay 0andhi Trans-
port Nagar, Delhi.
0.05 0.05 0 . 0 5 I mplementingagency-
vision Spring
I5 HealLh Camps lor 0rad-
ing CenLre Employees &
Farmers
PromotingPre-
venLive HealLh
Kodakarapanchayat
Thrissur
0.02 0.02 0 . 0 2 Direct
I6 HealLh Camps lor 0rad-
ing CenLre Employees &
Farmers
PromotingPre-
venLive HealLh
vazhoor, KoLLayam 0.03 0.03 0 . 0 3 Direct
I7 FurnitureSupport
toGovt. Ayurvedic
HospiLal
PromotingPre-
venLive HealLh
Kodakara, District-
Thrissur, Kerala
0.05 0.05 0 . 0 5 I mplementingagency-
HospiLal ManagemenL
Committee, Govt. Ayur-
veda HospiLal, Kodakara
I8 0eneral healLh & eye
caretreatment support
totheunder privileged
rural community
PromotingPre-
venLive HealLh
0urgaon, Haryana 3.00 3.00 3 . 0 0 I mplementingagency-
Sardar RamSinghKabli
and Sardarni Harnam
Kaur TrusL
A N N U A L R E P O R T 2 0 1 4 -1 5 | 7 5 7 4 | A P O L L O T YR E S L T D
I9 Baseline & ImpacL
AssesmenL ol TargeLed
InLervenLion pro|ecLs aL
I0 clinics in India
PromotingPre-
venLive HealLh
varansi(ULLar
Pradesh),
Pune(MaharashLra),
Farakka(WesL
Bengal), PaLna(Bihar),
Cochin(Kerala),
Nagpur(MaharashLra),
SuraL(0u|araL),
Barmana(Himachal
Pradesh),
0uwahaLi(Assam) &
vi|ayawada(Andhra
Pradesh)
I.75 I.75 1 . 7 5 I mplementing
agency- Kadence
I nternational Pvt. Ltd.
20 Social ReturnOn
I nvestment studyof
targetedintervention
pro|ecL aL 22 clinics in
I ndia
PromotingPre-
venLive HealLh
varansi(ULLar
Pradesh),
Pune(MaharashLra),
Farakka(WesL Ben-
gal), PaLna(Bihar),
Cochin(Kerala),
Nagpur(MaharashLra),
SuraL(0u|araL),
Barmana(Himachal
Pradesh),
0uwahaLi(Assam) &
vi|ayawada(Andhra
Pradesh)
I.I2 I.I2 1 . 1 2 I mplementingagency-
ThoughL
ArbitrageConsulting
2I Baselinestudyonopen
defecation
PromotingPre-
venLive HealLh
Senakuppam&
Mathur Panchayat,
Sriperumbudur
Taluka, Chennai
0.04 0.04 0 . 0 4 I mplementing
agency-
EnvironmenLalisL
Foundationof I ndia
22 Baselinestudyon
MensLrual Hygiene in 2
Govt. schools
PromotingPre-
venLive HealLh
Senakuppam&
Mathur Panchayats,
Sriperumbudur
Taluka, Chennai
0.22 0.22 0 . 2 2 I mplementingagency-
FSL I ndia
23 Communitysolidwaste
managemenL pro|ecL,
Clean My TransporL
Nagar
Ensuring
environmental
sustainability
San|ay 0andhi
TransporL Nagar, Delhi
2.03 2.0I 2 . 0 1 I mplementingagency-
Indcare TrusL & DirecL
24 Communitysolidwaste
managemenL pro|ecL,
Clean My TransporL
Nagar
Ensuring
environmental
sustainability
TransporL Nagar,
Agra, Uttar Pradesh
2.0I I.65 1 . 6 5 I mplementingagency-
Centrefor Urbanand
Pegional Excellence
25 Tree planLaLion & Liveli-
hood pro|ecL
Ensuring
environmental
sustainability
Kanchipuram,
Tiruvanamali disLricL
Tamilnadu
I.I3 I.I3 1 . 1 3 I mplementingagency-
TIST Tree PlanLing
I ndiaPrivateLimited
26 Communitysolidwaste
managemenL pro|ecL,
Clean My village
Ensuring
environmental
sustainability
Senakuppamand
Mathur Panchayat,
Sriperumbudur
Taluka, Chennai
0.66 0.63 0 . 6 3 I mplementingagency-
Help FoundaLion
27 BaselineStudyon
CommunitySolidwaste
management
Ensuring
environmental
sustainability
MaLhur & Senna-
kuppampanchyats,
Sriperumbudur
Taluka, Chennai
0.I0 0.I0 0 . 1 0 I mplementingagency-
Help FoundaLion
28 Cleandrinkingwater
pro|ecL baseline sLudy
Ensuring
environmental
sustainability
MaLhur & Senna-
kuppampanchyats,
Sriperumbudur
Taluka, Chennai
0.22 0.22 0 . 2 2 I mplementingagency-
WaLer Lile India PrivaLe
Limited
29 Baselinestudyfor solid
wastemanagement
pro|ecL aL TransporL
Nagar
Ensuring
environmental
sustainability
Kapur (ULLar Pradesh),
dodhpur & daipur
(Pa|asLhan)
0.94 0.53 0 . 5 3 I mplementingagency-
J anChetnaSewaSamiti
& PracLical AcLion Con-
sulLing (India) PvL. LLd.
30 Biodiversityimpact as-
sessment study
Ensuring
environmental
sustainability
Limda, Baroda,
0u|araL
I.00 0.92 0 . 9 2 I mplementingagency-
KadamEnvironmenLal
Consultants
3I Pondmanagement
baselinestudy
Ensuring
environmental
sustainability
Alwa & Limda,
Baroda, 0u|araL
0.I5 0.I5 0 . 1 5 I mplementingagency-
0u|araL Ecology SocieLy
32 Pondmanagement
baselinestudy
Ensuring
environmental
sustainability
PerambraDistt.
Thrissur, Kerala
0.40 0.40 0 . 4 0 I mplementingagency-
Tropical InsLiLuLe ol
Ecological Science
33 Skill building & income
generaLion pro|ecLs lor
thecommunity
Livelihood
enhancement
pro|ecLs
Waghodiya Taluka,
Baroda, 0u|araL
0.I9 0.I9 0 . 1 9 I mplementingagency-
I ndoGlobal Social
ServiceSociety
34 Take home PaLion
pro|ecL
Livelihood
enhancement
pro|ecLs
Waghodiya Taluka,
Baroda, 0u|araL
0.20 0.20 0 . 2 0 I mplementingagency-
I ndoGlobal Social
ServiceSociety
35 Skill building & income
generaLion pro|ecLs lor
thecommunity
Livelihood
enhancement
pro|ecLs
Senakuppam,
MaLhur PanchayaL &
Orgadam, Chennai,
Tamil Nadu
I.35 I.35 1 . 3 5 I mplementingagency-
Labournet I ndiaSer-
vices PrivateLimited
36 Skill building & income
generaLion pro|ecLs lor
thecommunity
Livelihood
enhancement
pro|ecLs
KodakaraPanchayat,
Perambra, Kerala
I.09 I.09 1 . 0 9 I mplementingagency-
Pa|agiri 0uLreach
37 Baselineonunemploy-
ment status
Livelihood
enhancement
pro|ecLs
MaLhur & Sennakup-
pam, vallakoLLai, val-
lam& MeLLupalayam
panchayat,
Sriperumbudur
Taluka, Chennai
0.I3 0.I3 0 . 1 3 I mplementingagency-
ADRA I ndia
38 Baselinestudyfor
undertakinglivelihood
pro|ecL
Livelihood
enhancement
pro|ecLs
Kodakara, Kerala 0.36 0.36 0 . 3 6 I mplementingagency-
Pa|agiri 0uLreach
39 I mprovedFarming
Practices for farmers
Rural Develop-
menL pro|ecLs
Waghodiya Taluka,
Baroda, 0u|araL
0.58 0.58 0 . 5 8 I mplementingagency-
I ndoGlobal Social
ServiceSociety
40 MoniLoring & EvaluaLion
frameworkdesigning
Rural Develop-
menL pro|ecLs
Cochin(Kerala),
Baroda(0u|araL),
Chennai(Tamil Nadu)
0.70 0.69 0 . 6 9 I mplementingagency-
ThoughL ArbiLrage
Consulting
4I I mprovedFarming
Practices for farmers
Rural Develop-
menL pro|ecLs
Pune, Maharashtra 3.I4 2.58 2 . 5 8 I mplementingagency-
MaharashtraI nstituteof
Technology Transler lor
Rural Areas
42 FurnitureSupport to
school inPerambra
Promoting
EducaLion
Kodakara, District-
Thrissur, Kerala
0.03 0.03 0 . 0 3 I mplementingagency-
HeadmisLress 0HSS,
Kodakara
A N N U A L R E P O R T 2 0 1 4 -1 5 | 7 7 7 6 | A P O L L O T YR E S L T D
43 FurnitureSupport to
school inPerambra
Promoting
EducaLion
Kodakara, District-
Thrissur, Kerala
0.05 0.05 0 . 0 5 I mplementingagency-
Principal 0HSS, Koda-
kara
44 FurnitureSupport to
school inPerambra
Promoting
EducaLion
Kodakara, District-
Thrissur, Kerala
0.06 0.06 0 . 0 6 I mplementingagency-
Head MasLer, 0.L.P.S,
Kodakara
45 FurnitureSupport to
school inPerambra
Promoting
EducaLion
Pallilamkara, Kerala 0.03 0.03 0 . 0 3 I mplementing
agency- HeadmisLress
G.L.P.School, Pallilam-
kara
46 School boundarywall
construction
Promoting
EducaLion
Orgadamvillage,
Sriperumbudur
Taluka, Chennai
0.34 0.34 0 . 3 4 I mplementingagency-
Hand In Hand India
47 EducaLion supporL Lo 50
under privilegedgirls
Promoting
EducaLion
Dehradun, Uttrakhand 3.00 3.00 3 . 0 0 I mplementingagency-
HimdyoLi FoundaLion
48 EducaLion supporL
for thementally
handicapped & blinds
children
Promoting
EducaLion
Delhi 0.I4 0.I4 0 . 1 4 I mplementingagency-
National Associationfor
theBlinds
49 EducaLion supporL
tounder privileged
children
Promoting
EducaLion
Delhi 0.I0 0.I0 0 . 1 0 I mplementingagency-
ChrisLel House India
50 EducaLion supporL Lo
under privilegedgirl
Promoting
EducaLion
Mumbai, Maharshtra 0.0I 0.0I 0 . 0 1 I mplementingagency-
Masoom
5I CapacityBuildingof
SLalls & volunLeers
Promoting
EducaLion
Chennai & 0urgaon I.23 I.23 1 . 2 3 I mplementingagency-
StepConsultingPvt. Ltd.
& Dale Carnegie Training
I ndia
52 MonthlyRationsupport
for theunder privileged
people
EradicaLion
hunger, poverty
& malnuLriLion
Mahipalpur, NewDelhi 0.07 0.07 0 . 0 7 I mplementingagency-
The EarLh Saviours
53 ConLribuLion Lo Corpus ol a TrusL creaLed exclusively lor underLaking CSP acLiviLies 0 . 1 0
T o ta l 5 4 . 1 2
A d m in is tra tive C o s t 5 % o f to ta l e x p e n s e 2 . 7 0
G ra n d T o ta l 5 6 . 8 2
6. The Company has noL been able Lo spenL Lwo per cenL ol Lhe average neL prolL ol Lhe lasL Lhree lnancial years due Lo Lhe
followingreasons:
· UnavailabiliLy ol an experL N00 Lo implemenL pro|ecLs as per our programme guidelines caused delay. The programme
will beimplemented this year.
· Non-adherence Lo Lhe S0P's and lack ol inLegriLy caused sacking ol 3 N00 which allecLed Lhe programme implemenLaLion
and budget utilisation.
7. The CSP CommiLLee conlrms LhaL Lhe implemenLaLion and moniLoring ol CSP Policy, is in compliance wiLh CSP ob|ecLives
and Policyof theCompany.
Sd/- Sd/-
(NEEPAd KANWAP)
vice - Chairman & Managing DirecLor
(0NKAP S KANWAP)
Chairman of CSR Committee
A N N E XU R E - I I I
C O N S E R VA T I O N O F E N E R G Y, T E C H N O L O G Y A B S O R P T I O N , F O R E I G N E XC H A N G E E A R N I N G S A N D O U T G O
A ) C O N S E R VA T I O N O F E N E R G Y
(i) T h e s te p s ta k e n o r im p a c t o n c o n s e rva tio n o f e n e rg y
Energy conservaLion reduces Lhe energy consumpLion and is an imporLanL parL ol our Energy Policy. Energy CosL
remains to be the highest cost factor in the manufacturing process and hence gets prime importance in the daily
work managemenL acLiviLies across locaLions. SusLenance and conLinual improvemenL in energy ellciency has
helped us to bebest across theindustryand also createbenchmark performancein operations across I ndia.
We have, as a SLraLegy, idenLiled Synergy Pro|ecLs lor Energy consumpLion reducLion across LocaLions in India and
Abroadwhich when built upon in acoupleof years, post implementation, will bringall plants toastrongcommon base.
Energy Ellciency and SusLainabiliLy has become exLremely imporLanL lor us, as Lhis is being sLimulaLed Lhrough condiLions
likerisingenergycost, laws andregulations for climateprotection andenvironmental awareness of customers.
(ii) S te p s ta k e n b y th e C o m p a n y fo r u tilis in g a lte rn a te s o u rc e s o f e n e rg y
Energy is puL Lo use ellecLively in operaLions lor process equipmenLs and also lor Lhe various uLiliLies. This is
Laken up by ensuring usage ol laLesL Lechnology in iLs class and ensuring LhaL we mainLain Lhe specilc energy
consumpLion even during low requiremenL ol lnished producL, by well delned sysLems & processes. Some ol Lhe
Energy ConservaLion measures Laken being.
· Peal Time CosL opLimizaLion by usage ol Lhe besL possible source ol energy in a locaLion
· Peal Time measuremenL ol energy parameLers aL Lhe generaLion end led Lo lnding ouL new avenues lor
improvement and controllingof usageof energyat user end.
· Mapping ol Lhe uLiliLy requiremenL across planLs resulLed in relooking ol required process parameLers aL user end.
· SLeam generaLion ellciency and demand gap lucLuaLions improved by provision ol closed loop conLrols aL
generaLion and lne conLrol ol process parameLers.
· variable lrequency drives usage aL Pumps and Compressors.
· Hydro Based Pumping sysLems insLalled lor a lamily ol process parameLers lor lne and accuraLe conLrol wiLh
less energy being consumed wiLh Lhe idea ol converLing lxed Lo variable energy.
· LED Lechnology employed lor reducing Lhe planL lighLing power consumpLion
· HoL waLer recovery aL higher LemperaLure, which has resulLed in Lhe reducLion ol radiaLion loss.
· Small ImprovemenL pro|ecLs in secLions Laken up as a culLural change.
· SpecilcaLions re-looked and cycle Lime opLimizaLion acLiviLies iniLiaLed in compound mixing.
· CondensaLe SLeam uLilizaLion lor vapor AbsorpLion Chillers.
· InLroducLion ol Daily work managemenL acLiviLies wiLh respecL Lo energy wiLh moniLoring, conLrol and correcLion
for compressed air and steam.
(iii) A d d itio n a l in ve s tm e n t a n d p ro p o s a l fo r re d u c tio n o f e n e rg y u s a g e : (I n ve s tm e n t in E n e rg y F ro n t to re d u c e c o s t
a n d c o n s u m p tio n
· To ensure luLure energy securiLy lrom escalaLing cosL and also Lo make Lhe nexL quanLum |ump in bringing
down Lhe conversion cosL across all planLs, a macro economic model is being prepared lor Lhe nexL 5 year period
to adventureinto thedifferent sources of renewableenergysuitableto locations
· FooL prinL on Wind Energy is lurLher sLrengLhened Lo uLilize Lhe poLenLial based on planL locaLions.
· Tapping Lhe Solar Energy Lo caLer Lo our energy needs across high poLenLial areas is Lo be a realiLy soon.
· Energy ManagemenL SLandard (EnMS), IS0 5000I being aL cerLilcaLion sLage aL one ol Lhe planLs will be Laken
across all locations in thecomingyear.
· Synergy Pro|ecLs InvesLmenL idenLiled, along wiLh saving and realizaLion on Lhe energy lronL LhaL will Lake Lhe
company Lo enhanced levels ol energy ellciency, learning curve and a sLrong loundaLion.
· To ensure CenLralized Approach lor SusLenance and MigraLion Lo luLure wiLh sLrong convicLion - Energy
Management Function in Manufacturingis established.
· Energy Mission 2020 road map is a SLraLegic Move planned Lo conLribuLe back Lo socieLy by conservaLion ol
energyand enhanced usageof renewablesources of energy.
B ) T E C H N O L O G Y A B S O R P T I O N
(i) E ffo rts m a d e to wa rd s T e c h n o lo g y A b s o rp tio n
New pro|ecLs have been inLroduced Lo kniL modern Lechnology in Lhe producL developmenL and manulacLure. This
A N N U A L R E P O R T 2 0 1 4 -1 5 | 7 9 7 8 | A P O L L O T YR E S L T D
includes raLionalisaLion and sLandardizaLion ol Paw maLerials, compounds, specilcaLions, simulaLion Lechniques
eLc across all locaLions. For Lhe lrsL Lime in India, we designed 55" Super Single radial Lruck Lyre in SLeer & Trailer
paLLern. Tyres were also designed lor TBP (SLeer & drive paLLern) lor usage on severe snow condiLion, qualilying
Lhe EU regulaLory requiremenL like PEACH , ConlicL Minerals eLc. Agro IndusLrial radial Lyres were also cusLom
designed lor Hard & SolL soil applicaLion. LTP & Cross ply Tyres were also designed lor Thailand markeL. New
generaLion Carbon Black lor TBP was developed and cusLomised lor DomesLic & exporL applicaLions. Several new
innovaLive compounds like High mileage & shred resisLanL Lread lor TBP, High Mileage & SeparaLion PesisLanL
Lread compound, Super HeaL PesisLanL Lread compound lor 0TP Tyre , Cushion gum compound wiLh higher sLorage
stabilityfor Retreadingoperation etc weredeveloped and industrialised. I mpact resistanceof tyres in harsh I ndian
environment wereimproved byusing new generation Steel cords. Research also focussed on threefundamental
pro|ecLs like Wear, Polling PesisLance & 0rip Lo have a beLLer undersLanding in all respecLs like maLerial, producL,
vehicle and iLs applicaLion. All Lhese pro|ecLs were supporLed by SimulaLion Driven ProducL Design across enLire
product portfolio which enabled us to get advantageof technical superiorityover competition. Currently, thetools
developed are being used lor vulcanizaLion Lime opLimizaLion and producLiviLy improvemenL. Pesearch pro|ecLs is
undertaken to improverecyclingof used tyres and reuseback into tyres .
(ii) Beneñts derived Iike product improvement, cost reduction, product deveIopment or import substitution.
DevelopmenL ol novel maLerials & Lechnologies helped in enhancing producL qualiLy. various producLiviLy
improvemenL acLiviLies were implemenLed like reducing mixing cycle Lime by using special grade ol NaLural rubber
and dispersing agenL, improvemenL in exLrusion speed by 40 º ol TBP shoulder cushion by perlormer modilcaLion,
reduced curecyclebyintroduction of addition steamcavityin thepresses. Cost optimisation activities werecarried
ouL by reducLion ol Tread rework, bladder lile improvemenL, poly-gauge reducLion eLc. Carcass durabiliLy ol TBP
tyrewas improved byinnovativecuringdonewith Low hot water temperatureand uniformcure. As a step towards
green manulacLuring, implemenLed direcL applicaLion ol gum sLrip by inLroducLion ol mini roller head line in Lread
by improving cooling waLer qualiLy. In Lhe crossply segmenL AXv (Apollo XLra value) series ol new designs Lyres
wiLh cosL ellecLive, improved durabiliLy carcass sLrucLures have been developed lor markeLs like Thailand & Middle
EasL. These are new design Lyres wiLh special leaLures assigned lor 'Drive', 'SLeer', 'Trailer' axles ol dillerenL vehicle
conlguraLion plying on highways. In Lhe Small Commercial vehicle (SCv) segmenL Lyres, your company now has
Lhe widesL range ol Lyres in Lhe markeL. WiLh Lhe launching ol new range ol high mileage & improved durabiliLy
range ol LCv Lyres, your company has besL range ol premium mileage LCv producL baskeL in Lhe counLry. IndusLrial
& EarLhmover Lyres have also made a mark wiLh Lhe range ol Backhoe loader Lyres. WiLh Lhe esLablishmenL ol
shearographyas a sophisticated forensic analysis tool, knowledgelibraryfor product lifecycleinvestigation as well
as for carcass screeningprior to retreadingarecreated.
(iii) DetaiIs of imported technoIogy (imported during Iast 3 years reckoned from the beginning of the ñnanciaI year)
No Lechnology was imporLed during Lhe previous Lhree lnancial years. We are locusing on Lhe developmenL ol our
own Lechnology Lhrough inhouse P&D ellorLs and presenL Lechnology is based on our own P&D ellorLs.
(iv) E x p e n d itu re in c u rre d o n R e s e a rc h a n d D e ve lo p m e n t
( M illio n )
a) CapiLal I67.5I
b) Delerred Pevenue ExpendiLure -
c) Pevenue 875.25
d) ToLal I042.76
e) ToLal P&D expendiLure as a º Lurnover I.I7º
C ) F O R E I G N E XC H A N G E E A R N I N G S A N D O U T G O
( M illio n )
i) Foreign Exchange Earnings
-0n accounL ol direcL - exporL sales lrom Apollo Tyres LLd (F0B value) 9,222.3I
-On account of royaltyfromForeign SubsidiaryCompanies 73.83
-0n accounL ol Cross Charge ol ManagemenL Expenses lrom Foreign
SubsidiaryCompanies 54.74
-0n accounL ol PeimbursemenL ol Expenses lrom Foreign
SubsidiaryCompanies 209.27
ii) Foreign Exchange ouLgo (oLher Lhan CIF value ol imporLs) I,906.22
For and on behalf of theBoard of Directors
Sd/-
DaLe . May I2, 20I5 0nkar S Kanwar
Place . 0urgaon (Chairman & Managing DirecLor)
A N N E XU R E - I V
F O R M N O . M G T 9
E XT R A C T O F A N N U A L R E T U R N
as on lnancial year ended on 3I.03.20I5
PursuanL Lo SecLion 92(3) ol Lhe Companies AcL, 20I3 and rule I2(I) ol Lhe
Companies (ManagemenL & AdminisLraLion ) Pules, 20I4.
I R E G I S T R A T I O N & O T H E R D E T A I L S :
i CI N L25IIIKLI972PLC002449
ii Registration Date SepLember 28, I972
iii Nameof theCompany Apollo Tyres LLd
iv Category/Sub-categoryof theCompany Public Company (LimiLed By shares)
v Address ol Lhe PegisLered ollce & conLacL
details
6
th
Floor, CherupushpamBuilding, ShanmughamRoad,
Kochi 68203I, Ph No. 0484 2372767
vi WheLher lisLed company Yes
vii Name , Address & conLacL deLails ol Lhe
PegisLrar & Transler AgenL, il any.
Apollo Tyres LLd, Apollo House, 7, InsLiLuLional Area,
SecLor-32, 0urgaon I2200I, Ph No. 0I24 272I000
I I P R I N C I P A L B U S I N E S S A C T I VI T I E S O F T H E C O M P A N Y
S L N o N a m e & D e s c rip tio n o f m a in
p ro d u c ts /s e rvic e s
N I C C o d e o f th e p ro d u c ts /
s e rvic e s
% to to ta l tu rn o ve r o f th e
C o m p a n y
I Tyres, Tubes and Flaps 25III I00
I I I P A R T I C U L A R S O F H O L D I N G , S U B S I D I A R Y & A S S O C I A T E C O M P A N I E S
S l N o N a m e & A d d re s s o f th e C o m p a n y C I N /G L N H O L D I N G /
S U B S I D I A R Y/
A S S O C I A T E
% O F S H A R E S
H E L D
A P P L I C A B L E
S E C T I O N
I Apollo (MauriLius) Holdings PvL LLd.
- Abax CorporaLe Services LLd. 6Lh
Floor, Tower A, I CyberciLy, Ebene,
Republic of Mauritius
Foreign Company Subsidiary I00 2(87)
2 Apollo ( SouLh Alrica) Holdings (PLy)
LLd - 265 Sydney Poad, Durban,
400I
Foreign Company Subsidiary I00 2(87)
3 Apollo Tyres (Cyprus) PvL. LLd.
- Zinonos Sozou, I2, P.C. I075,
nicosia, Cyprus
Foreign Company Subsidiary I00 2(87)
4 Apollo Tyres (0reenleld) Co-
operaLiel U.A. - Ir. SchillsLraaL 370,
7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
5 Apollo Tyres (Hungary) KlL. -
HU-I053, BudapesL, KarolyiuLca
I2.3 em.
Foreign Company Subsidiary I00 2(87)
6 Apollo Tyres Co-operaLiel U.A- Ir.
SchillsLraaL 370, 7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
7 Apollo Tyres A0- MellingersLrassen
2a, 5400 Baden, SwiLzerland
Foreign Company Subsidiary I00 2(87)
A N N U A L R E P O R T 2 0 1 4 -1 5 | 8 1 8 0 | A P O L L O T YR E S L T D
8 Apollo Tyres 0lobal P & D B.v.-
Colosseum 2, 752I PT Enschede
Foreign Company Subsidiary I00 2(87)
9 Apollo Tyres (Middle EasL) FZE -
Building No-3, 0alleries- 0llce No-
0B030603, debel Ali- Dubai, UAE
Foreign Company Subsidiary I00 2(87)
I0 Apollo Tyres Holdings (Singapore)
PLe. LLd- 9 Temasek Boulevard,
#42-0I, SunLec Tower Two,
Singapore 038989
Foreign Company Subsidiary I00 2(87)
II Apollo Tyres (Thailand) LimiLed-
23FL, KPN Tower, 7I9, Pama-9
Poad, Bang Kapi, Huay Kwang,
Bangkok-I03I0
Foreign Company Subsidiary I00 2(87)
I2 Apollo Tyres (Brasil) LLda.- Av.
PresidenteJ uscelino Kubitschek,
I455, 6º andar, sala I2, CEP. 04543-
0II, São Paulo f SP
Foreign Company Subsidiary I00 2(87)
I3 Apollo Tyres B v- Ir. SchillsLraaL
370, 7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
I4 Apollo Tyres (UK) PvL. LLd- 3rd
Floor, Maddox House I, Maddox
SLreeL & 2I5-22I, PegenL SLreeL
London WIS 2PZ
Foreign Company Subsidiary I00 2(87)
I5 Apollo Tyres PropvesL (UK) PvL.
LLd- Third Floor, Maddox House I
Maddox sLreeL & 2I5-22I PegenL
SLreeL London WIS 2PZ
Foreign Company Subsidiary I00 2(87)
I6 Apollo vredesLein B.v.- Ir.
SchillsLraaL 370, 7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
I7 Apollo vredesLein KlL.- AlkoLás úL
39fc II23 BudapesL
Foreign Company Subsidiary I00 2(87)
I8 Apollo vredesLein Belux-
Buro&Design CenLer, Heizel
Esplanade bus 6 I020 Brussel
Foreign Company Subsidiary I00 2(87)
I9 vredesLein ConsulLing Bv- Ir. E.L.C.
SchillsLraaL 370, 7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
20 Finlo B.v.- Ir. SchillsLraaL 370,
7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
2I vredesLein MarkeLing B.v- Ir. E.L.C.
SchillsLraaL 370, 7547 PD Enschede
Foreign Company Subsidiary I00 2(87)
22 vredesLein MarkeLing B.v & Co. K0-
SchulzendorlersLrasse I2, I2529
Schonefeld
Foreign Company Subsidiary I00 2(87)
23 Apollo vredesLein 0esmbH-
Seybelgasse I0-I2, I230 Wien
Foreign Company Subsidiary I00 2(87)
24 Apollo vredesLein Schweiz A0-
MellingersLrasse 2A, PosLlach 2II2,
5402 Baden
Foreign Company Subsidiary I00 2(87)
25 Apollo vredesLein S.P.L.- via
Edelweiss Podriquez Senior n.3
inL.I3 47900 Pimini (PN)
Foreign Company Subsidiary I00 2(87)
26 Apollo vredesLein Iberica S.A.-
CiLyparc Edilcio Bruselas, CLra. De
HospiLaleL I47-I49, 08940 Cornella
deLlobregat Barcelona
Foreign Company Subsidiary I00 2(87)
27 Apollo vredesLein UK LLd.- I
Beechwood, Cherry Hall Poad,
KetteringBusiness Park, Northants
NNI4 IUE
Foreign Company Subsidiary I00 2(87)
28 vredesLein Nordic AB-
Flo|elbergsgaLan I8, 43I 37
M0LNDAL ,SWEDEN
Foreign Company Subsidiary I00 2(87)
29 vredesLein Norge AfS-
Flo|elbergsgaLan I8, 43I 37
M0LNDAL, SWEDEN
Foreign Company Subsidiary I00 2(87)
30 Apollo vredesLein SAS- 59, Avenue
vicLor Hugo, 75II6, Paris
Foreign Company Subsidiary I00 2(87)
3I Apollo vredesLein 0mbH-
PheinsLrasse I03, vallenda
Foreign Company Subsidiary I00 2(87)
32 Apollo vredesLein 0pony Polska
sp. Z o.o.- Ul ProsLa 32, 00-838
Warszawa
Foreign Company Subsidiary I00 2(87)
33 Apollo vredesLein Tires Inc- I3,
Bridge SLreeL, MeLuchen Nd 08840
Foreign Company Subsidiary I00 2(87)
34 S.C. vredesLein P0 S.P.L.- 40007I
Clu|-Napoca sLr.Zrinyi Miklos nr.
7f3-4, Clu|
Foreign Company Subsidiary I00 2(87)
35 Apollo Tyres Alrica (PLy) LLd - 265
Sydney Poad, Durban, 400I
Foreign Company Subsidiary I00 2(87)
36 PressuriLe (PLy) LLd. (PSA)- UniL I ,
AviaLion CrescenL, AirporL CiLy, 7490
Foreign Company Associate 28 2(6)
37 PAN Aridus LLC- P0 Box 5I34
Carelree, Arizona USA, 85377
Foreign Company doinL venLure 50 2(6)
I V. S H A R E H O L D I N G P A T T E R N (E q u ity S h a re C a p ita l B re a k u p a s % to to ta l E q u ity)
(i) C A T E G O R Y-WI S E S H A R E H O L D I N G
C a te g o ry o f
S h a re h o ld e rs
N o . o f S h a re s h e ld a t th e b e g in n in g o f th e ye a r N o . o f S h a re s h e ld a t th e e n d o f th e ye a r
D e m a t P h ys ic a l T o ta l % o f T o ta l
S h a re s
D e m a t P h ys ic a l T o ta l % o f T o ta l
S h a re s
% c h a n g e
d u rin g th e
ye a r
A . P ro m o te rs
(1 ) I n d ia n
a) IndividualfHUF 533079I 0 533079I I.06 533079I 0 533079I I.05 (0.0I)
b) CenLral 0ovL.or
StateGovt.
0 0 0 - 0 0 0 - -
c) Bodies CorporaLes* 2II94250I 7450 2II94995I 42.05 2I694250I 7450 2I694995I 42.62 0.57
d) BankfFI 0 0 0 - 0 0 0 - -
e) Any oLher 0 0 0 - 0 0 0 - -
- -
S U B T O T A L (A ) (1 ): - 2I7273292 7450 2I7280742 43.II 222273292 7450 222280742 43.67 0.56
-
(2 ) F o re ig n -
a) NPI- Individuals I977000 0 I977000 0.39 I977000 0 I977000 0.39 (0.00)
b) 0Lher Individuals 0 0 0 - 0 0 0 - -
c) Bodies Corp. 0 0 0 - 0 0 0 - -
d) BanksfFI 0 0 0 - 0 0 0 - -
e) Any oLher. 0 0 0 - 0 0 0 - -
-
S U B T O T A L (A ) (2 ): - I977000 0 I977000 0.39 I977000 0 I977000 0.39 (0.00)
A N N U A L R E P O R T 2 0 1 4 -1 5 | 8 3 8 2 | A P O L L O T YR E S L T D
T o ta l S h a re h o ld in g
o f P ro m o te r
(A )= (A )(1 )+(A )(2 )
2 1 9 2 5 0 2 9 2 7 4 5 0 2 1 9 2 5 7 7 4 2 4 3 . 5 0 2 2 4 2 5 0 2 9 2 7 4 5 0 2 2 4 2 5 7 7 4 2 4 4 . 0 6 0 . 5 6
B . P U B L I C
S H A R E H O L D I N G
(1 ) I n s titu tio n s
a) MuLual Funds I9I34363 I256200 20390563 4.05 38I02943 I235200 39338I43 7.73 3.68
b) BanksfFI** I7450 I50468 I679I8 0.03 I696I2 I25250 294862 0.06 0.03
C) CenLral govL 0 0 0 - 0 0 0 - -
d) SLaLe 0ovL. I0000000 0 I0000000 I.98 I0000000 0 I0000000 I.96 (0.02)
e) venLure CapiLal
Fund
0 0 0 - 0 0 0 - -
l) Insurance
Companies
I600000 45000 I645000 0.33 2000000 45000 2045000 0.40 0.07
g) FIIS I73367403 50I880 I73869283 34.50 I55756558 50I880 I56258438 30.70 (3.80)
h) Foreign venLure
Capital Funds
0 0 0 - 0 0 0 - -
i) 0Lhers (specily)-
Other I nsurance
Companies
74I9I44 0 74I9I44 I.47 3942989 0 3942989 0.77 (0.70)
S U B T O T A L (B ) (1 ): - 2 1 1 5 3 8 3 6 0 1 9 5 3 5 4 8 2 1 3 4 9 1 9 0 8 4 2 . 3 6 2 0 9 9 7 2 1 0 2 1 9 0 7 3 3 0 2 1 1 8 7 9 4 3 2 4 1 . 6 2 (0 . 7 4 )
(2 ) N o n I n s titu tio n s
a) Bodies corporaLes
i) Indian** I66I3988 238720 I6852708 3.34 I0I74367 238220 I04I2587 2.05 (I.29)
ii) 0verseas 0 0 0 - 0 0 0 - -
b) Individuals
i) Individual
shareholders holding
nominal sharecapital
upLo Ps.I lakhs**
I82295II 9I043I0 2733382I 5.42 24I97030 862I682 328I87I2 6.45 I.03
ii) Individuals
shareholders holding
nominal sharecapital
in excess ol I lakhs
I7I0050 0 I7I0050 0.34 I390050 0 I390050 0.27 (0.07)
c) 0Lhers (specily)
NRI s I6I2360 633900 2246260 0.45 20I0806 590240 260I046 0.5I 0.06
ClearingMembers 268575I 0 268575I 0.53 2765433 0 2765433 0.54 0.0I
ForeginNational I000 0 I000 0.00 680 0 680 0.00 (0.00)
ForeignBank 0 0 0 - 0 0 0 - -
UnclaimedSuspense
A/c
I459730 0 I459730 0.29 I433480 0 I433480 0.28 (0.0I)
TrusL Holders I8985800 0 I8985800 3.77 2I465608 0 2I465608 4.22 0.45
- - -
S U B T O T A L (B ) (2 ): - 6 1 2 9 8 1 9 0 9 9 7 6 9 3 0 7 1 2 7 5 1 2 0 1 4 . 1 4 6 3 4 3 7 4 5 4 9 4 5 0 1 4 2 7 2 8 8 7 5 9 6 1 4 . 3 2 0 . 1 8
T o ta l P u b lic
S h a re h o ld in g
(B )= (B )(1 )+(B )(2 )
272836550 II930478 284767028 56.50 273409556 II357472 284767028 55.94 (0.56)
C . S h a re s h e ld b y
C u s to d ia n fo r
G D R s & A D R s
0 0 0 0 0 0 0 0 -
-
G ra n d T o ta l (A +B +C ) 4 9 2 0 8 6 8 4 2 1 1 9 3 7 9 2 8 5 0 4 0 2 4 7 7 0 1 0 0 . 0 0 4 9 7 6 5 9 8 4 8 1 1 3 6 4 9 2 2 5 0 9 0 2 4 7 7 0 1 0 0 . 0 0 -
(ii) S H A R E H O L D I N G O F P R O M O T E R S
S l N o . S h a re h o ld e rs N a m e S h a re h o ld in g a t th e b e g in n in g o f th e ye a r S h a re h o ld in g a t th e e n d o f th e ye a r
N o . o f
s h a re s
% o f to ta l
s h a re s o f th e
C o m p a n y
% o f s h a re s
p le d g e d
e n c u m b e re d to
to ta l s h a re s
N o . o f s h a re s % o f to ta l
s h a re s o f th e
C o m p a n y
% o f s h a re s
p le d g e d
e n c u m b e re d to
to ta l s h a re s
% c h a n g e in
s h a re h o ld in g
d u rin g th e ye a r
I Neera| ConsulLanLs LLd. 42508I42 8.43 0.62 42508I42 8.35 0.87 (0.08)
2 ConstructiveFinancePvt. Ltd. 29630857 5.88 0 29630857 5.82 0.38 (0.06)
3 ApolloFinanceLtd. 36759650 7.29 0.68 36759650 7.22 0.5I (0.07)
4 Sunrays ProperLies & InvesLmenL
Co. Pvt. Ltd.
35725648 7.09 2.79 35725648 7.02 2.40 (0.07)
5 ApolloI nternational Ltd. I7527080 3.48 0 I7527080 3.44 0 (0.04)
6 MotlayFinancePvt. Ltd. I26I8036 2.50 0 I26I8036 2.48 I.09 (0.02)
7 Sacred HearL InvesLmenL Co.
Pvt. Ltd.
9453I80 I.88 0 9453I80 I.86 0 (0.02)
8 Classic Autotubes Ltd. 9493500 I.88 0 I4493500 2.85 0 0.97
9 0anga Kaveri CrediL & Holding
Pvt. Ltd.
7688380 I.53 0 7688380 I.5I 0 (0.02)
I0 Indus valley InvesLmenL &
FinancePvt. Ltd.
5076040 I.0I 0 5076040 I.00 0 (0.0I)
S l N o . S h a re h o ld e rs N a m e S h a re h o ld in g a t th e b e g in n in g o f th e ye a r S h a re h o ld in g a t th e e n d o f th e ye a r
N o . o f
s h a re s
% o f to ta l
s h a re s o f th e
C o m p a n y
% o f s h a re s
p le d g e d
e n c u m b e re d to
to ta l s h a re s
N o . o f s h a re s % o f to ta l
s h a re s o f th e
C o m p a n y
% o f s h a re s
p le d g e d
e n c u m b e re d to
to ta l s h a re s
% c h a n g e in
s h a re h o ld in g
d u rin g th e ye a r
II Mr Onkar S. Kanwar 490678I 0.97 0 490678I 0.96 0 (0.0I)
I2 Global Capital Ltd. 3627I58 0.72 0 3627I58 0.7I 0 (0.0I)
I3 Ms Shalini Chand I977000 0.39 I977000 0.39 0 (0.00)
I4 KensLar InvesLmenL & Finance
Pvt Ltd.
I842280 0.37 0 I842280 0.36 0 (0.0I)
I5 Mr Neera| Kanwar 2I2380 0.04 0 2I2380 0.04 0 (0.00)
I6 Mr Paa|a Kanwar I80880 0.04 0 I80880 0.04 0 (0.00)
I7 Ms SimranKanwar I8500 0.00 0 I8500 0.00 0 (0.00)
I8 Ms Taru Kanwar I2250 0.00 0 I2250 0.00 0 (0.00)
T o ta l 2 1 9 2 5 7 7 4 2 4 3 . 5 0 4 . 0 9 2 2 4 2 5 7 7 4 2 4 4 . 0 6 5 . 2 5 0 . 5 6
(iii) C H A N G E I N P R O M O T E R S ' S H A R E H O L D I N G *
S l. N o . P a rtic u la rs S h a re h o ld in g a t th e b e g in n in g
o f th e Ye a r
C u m u la tive S h a re h o ld in g
d u rin g th e ye a r
N o . o f S h a re s % o f to ta l s h a re s
o f th e C o m p a n y
N o . o f s h a re s % o f to ta l s h a re s
o f th e C o m p a n y
I AL Lhe Beginning ol Lhe Year
(April I, 20I4)

2I9257742

43.07º

2I9257742

43.07º
50,00,000 warranLs held by
Classic AuLo Tubes LLd. were
converLed inLo equiLy shares on
April I9, 20I4.

500000

0.98º

224257742

44.05º
A t th e e n d o f th e ye a r
(M a rc h 3 1 , 2 0 1 5 )

2 2 4 2 5 7 7 4 2

4 4 . 0 5 %

2 2 4 2 5 7 7 4 2

4 4 . 0 5 %
(iv) S H A R E H O L D I N G P A T T E R N O F T O P T E N S H A R E H O L D E R S (O T H E R T H A N D I R E C T O R S , P R O M O T E R S &
H O L D E R S O F G D R s & A D R s )*

S l. N o N a m e o f th e S h a re h o ld e r S h a re h o ld in g a t th e b e g in n in g /
e n d o f th e ye a r
C u m u la tive S h a re h o ld in g
d u rin g th e ye a r
N o . o f s h a re s % o f to ta l s h a re s
o f th e C o m p a n y
N o . o f s h a re s % o f to ta l s h a re s
o f th e C o m p a n y
I Custodian A/c - Ashwin Shantilal
Mehta
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

-

-

-

-
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

I3507300

2.65º

I3507300

2.65º
At theend of theyear
(March 3I, 20I5)

I3507300

2.65º

I3507300

2.65º
2 Skagen Kon-Tiki verdipapirlond
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

27020843

5.3Iº

27020843

5.3Iº
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

(I4663283)

(2.88º)

I2357560

2.43º
At theend of theyear
(March 3I, 20I5)

I2357560

2.43º

I2357560

2.43º
3 Franklin TempleLon InvesLmenL
Funds
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

-

-

-

-
A N N U A L R E P O R T 2 0 1 4 -1 5 | 8 5 8 4 | A P O L L O T YR E S L T D
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

936I022

I.84º

936I022

I.84º
At theend of theyear
(March 3I, 20I5)

936I022

I.84º

936I022

I.84º
4 Government Pension Fund Global
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

6737748

I.32º

6737748

I.32º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

(I684984)

(0.33º)

5052764

0.99º
At theend of theyear
(March 3I, 20I5)

5052764

0.99º

5052764

0.99º
5 Dimensional Emerging MarkeLs
value Fund
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

3385454

0.67º

3385454

0.67º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

I637I2I

0.32º

5022575

0.99º
At theend of theyear
(March 3I, 20I5)

5022575

0.99º

5022575

0.99º
6 I nvestec Global StrategyFund A/c
Asian EquiLy Fund
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

5347865

I.05º

5347865

I.05º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

(289054)

(0.06º)

50588II

0.99º
At theend of theyear
(March 3I, 20I5)

50588II

0.99º

50588II

0.99º
7 Kerala StateI ndustrial
Development Corporation
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

5000000

0.98º

5000000

0.98º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

-

-

5000000

0.98º
At theend of theyear
(March 3I, 20I5)

5000000

0.98º

5000000

0.98º
8 Governor of Kerala
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

5000000

0.98º

5000000

0.98º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

-

-

5000000

0.98º
At theend of theyear
(March 3I, 20I5)

5000000

0.98º

5000000

0.98º
9 CrediL Suisse (Singapore) LimiLed
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

4749746

0.93º

4749746

0.93º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

6947382

I.36º

II697I28

2.30º
At theend of theyear
(March 3I, 20I5)

II697I28

2.30º

II697I28

2.30º
I0 UTI-0pporLuniLies Fund
AL Lhe Beginning ol Lhe Year
(April I, 20I4)

2308452

0.45º

2308452

0.45º
TransacLion (Purchasef sale) lrom
April I, 20I4 upLo March 3I, 20I5

2087264

0.4Iº

43957I6

0.86º
At theend of theyear
(March 3I, 20I5)

43957I6

0.86º

43957I6

0.86º
(v) S H A R E H O L D I N G O F D I R E C T O R S & K M P s *
S l. N o N a m e o f th e D ire c to r/
K M P
S h a re h o ld in g a t th e b e g in n in g /e n d o f
th e ye a r
C u m u la tive S h a re h o ld in g d u rin g
th e ye a r
N o . o f s h a re s % o f to ta l s h a re s
o f th e C o m p a n y
N o . o f s h a re s % o f to ta l s h a re s
o f th e C o m p a n y
I Mr Onkar S Kanwar
- Chairman & Managing
Director
At theBeginningof the
Year (April I, 20I4)

490678I

0.96º

490678I

0.96º
TransacLion (Purchasef
sale) lrom April I, 20I4
upLo March 3I, 20I5

-

-

-

-
At theend of theyear
(March 3I, 20I5)

490678I

0.96º

490678I

0.96º
2 Mr. Neera| Kanwar -
vice Chairman &
ManagingDirector
At theBeginningof the
Year (April I, 20I4)

2I2380

0.04º

2I2380

0.04º
TransacLion (Purchasef
sale) lrom April I, 20I4
upLo March 3I, 20I5

-

-

-

-
At theend of theyear
(March 3I, 20I5)

2I2380

0.04º

2I2380

0.04º
3 Mr K dacob Thomas -
Director
At theBeginningof the
Year (April I, 20I4)

442050

0.09º

442050

0.09º
TransacLion (Purchasef
sale) lrom April I, 20I4
upLo March 3I, 20I5

-

-

-

-
At theend of theyear
(March 3I, 20I5)

442050

0.09º

442050

0.09º
4 Mr. vikram S MehLa -
Director
At theBeginningof the
Year (April I, 20I4)

6000

0.00º

6000

0.00º
TransacLion (Purchasef
sale) lrom April I, 20I4
upLo March 3I, 20I5

-

-

-

-
At theend of theyear
(March 3I, 20I5)

6000

0.00º

6000

0.00º

*Theshareholdingpercentageat thebeginning/endof theyear hasbeencalculatedonthesharecapital asonMarch31, 2015.
The lollowing DirecLorsfKey Managerial Personnel(KMP) did noL hold any shares during lscal 20I5.
(i) Mr Akshay Chudasama, DirecLor (ii) Mr A K Purwar, DirecLor (iii) Mr Nimesh N Kampani, DirecLor (iv) Mr P H Kurian, DirecLor (v) Mr PoberL SLeinmeLz,
DirecLor (vi) Mr.SunamSarkar, DirecLor (vii) Dr S Narayan, DirecLor (viii) Ms Pallavi Shroll, DirecLor (ix) Mr Pa| Baner|i, CF0-KMP (x) Mr P N Wahal,
CompanySecretary-KMP
A N N U A L R E P O R T 2 0 1 4 -1 5 | 8 7 8 6 | A P O L L O T YR E S L T D
V. I N D E B T E D N E S S
I N D E B T E D N E S S O F T H E C O M P A N Y I N C L U D I N G I N T E R E S T O U T S T A N D I N G /A C C R U E D B U T N O T D U E F O R P A YM E N T
( Million)
P a rtic u la rs S e c u re d L o a n s
e x c lu d in g d e p o s its
U n s e c u re d
L o a n s
D e p o s its T o ta l
I n d e b te d n e s s
Indebtness at the beginning of the ñnanciaI year
i) Principal AmounL I0,684.74 4,505.I4 - I5,I89.88
ii) InLeresL due buL noL paid - - - -
iii) InLeresL accrued buL noL due I38.52 90.96 - 229.48
T o ta l (i+ii+iii) 1 0 , 8 2 3 . 2 6 4 , 5 9 6 . 1 0 - 1 5 , 4 1 9 . 3 6
Change in Indebtedness during the ñnanciaI year
Additions 2,757.90 - 2,757.90
Reduction 3,925.30 3,000.00 - 6,925.30
Net Change (3,925.30) (242.I0) - (4,I67.40)
Indebtedness at the end of the ñnanciaI year
i) Principal AmounL 6,759.44 4,263.04 - II,022.48
ii) InLeresL due buL noL paid - - - -
iii) InLeresL accrued buL noL due I44.94 - - I44.94
T o ta l (i+ii+iii) 6 , 9 0 4 . 3 8 4 , 2 6 3 . 0 4 - 1 1 , 1 6 7 . 4 2
VI . R E M U N E R A T I O N O F D I R E C T O R S A N D K E Y M A N A G E R I A L P E R S O N N E L
A . R E M U N E R A T I O N T O M A N A G I N G D I R E C T O R , WH O L E T I M E D I R E C T O R A N D /O R M A N A G E R :
( Million)
S l. N o P a rtic u la rs o f R e m u n e ra tio n N a m e o f th e M D /WT D /M a n a g e r T o ta l
A m o u n t
1 G ro s s s a la ry O n k a r S
K a n wa r
N e e ra j
K a n wa r
S u n a m
S a rk a r
U S O b e ro i
(a) Salary as per provisions
conLained in secLion I7(I) ol Lhe
Income Tax. I96I.
II3.78 73.40 29.98 3.94 22I.I0
(b) value ol perquisiLes ufs I7(2)
ol Lhe Income Lax AcL, I96I
0.I0 0.79 0.29 0.27 I.45
(c ) ProlLs in lieu ol salary under
secLion I7(3) ol Lhe Income Tax
AcL, I96I
- - - - -
2 Stock option - - - - -
3 SweaL EquiLy - - - - -
4 Commission as º ol prolL 295.00 I95.00 I0.I3 2.92 503.05
oLhers (specily) - - - - -
5 Others, pleasespecify - - - - -
ToLal (A) 408.88 269.I9 40.40 7.I3 725.60
Ceilingas per theAct 998.43 Millions (being I0º ol Lhe NeL ProlLs ol Lhe Company
calculaLed as per SecLion I98 ol Lhe Companies AcL 20I3)

B . R E M U N E R A T I O N T O O T H E R D I R E C T O R S :
( Million)
S l. N o P a rtic u la rs o f
R e m u n e ra tio n
N a m e o f th e D ire c to rs T o ta l
A m o u n t
I I ndependent Directors A.K.
Purwar
Askhay
Chudasama
K. J ACOB
Thomas
NimeshN
Kampani
Pallavi
Shroff
Robert
SLeinmeLz
S Narayan Shardul S
Shroff
vikram
S.Mehta
(a) Fee lor aLLending
boardcommittee
meetings
0.60 I.I0 I.I0 0.50 0.50 0.50 I.30 0.00 0.40 6.00
(b) Commission 5.56 5.56 5.56 5.56 4.89 5.56 5.56 0.67 5.56 44.48
(c ) 0Lhers, please
specify
- - - - - - - - - -
T o ta l (1 ) 6 . 1 6 6 . 6 6 6 . 6 6 6 . 0 6 5 . 3 9 6 . 0 6 6 . 8 6 0 . 6 7 6 . 2 3 5 0 . 4 8
2 0Lher Non ExecuLive
Directors
PH Kurian*
(a) Fee lor aLLending 0.30 0.30
(b) Commission 5.55 5.55
(c ) 0Lhers, please
specify.
- -
T o ta l (2 ) 5 . 8 5 5 . 8 5
T o ta l (B )= (1 +2 ) 5 6 . 3 3
T o ta l M a n a g e ria l R e m u n e ra tio n 7 8 1 . 9 3
O ve ra ll C ie lin g a s p e r
th e A c t.
I098.27 Millions (being IIº ol Lhe NeL ProlLs ol Lhe Company calculaLed as per SecLion I98 ol Lhe Companies AcL
20I3)
* Paid Lo 0ovL ol Kerala
C . R E M U N E R A T I O N T O K E Y M A N A G E R I A L P E R S O N N E L O T H E R T H A N M D /M A N A G E R /WT D
( Million)
S l. N o . P a rtic u la rs o f R e m u n e ra tio n K e y M a n a g e ria l
P e rs o n n e l
1 G ro s s S a la ry C o m p a n y S e c re ta ry
(P . N . WA H A L )
(a) Salary as per provisions conLained in secLion I7(I) ol Lhe Income Tax AcL, I96I. I3.36
(b) value ol perquisiLes ufs I7(2) ol Lhe Income Tax AcL, I96I 0.49
(c ) ProlLs in lieu ol salary under secLion I7(3) ol Lhe Income Tax AcL, I96I -
2 Stock Option -
3 SweaL EquiLy -
4 Commission as º ol prolL oLhers, specily -
5 Others, pleasespecify -
T o ta l 1 3 . 8 5
Mr Pa| Baner|i was appoinLed as CF0 in place ol Mr Sunam Sarkar w.e.l. February 6, 20I5. Mr Pa| Baner|i has received
remuneraLion lrom wholly owned overseas subsidiary ol Lhe Company. Mr Baner|i has resigned w.e.l. April 30, 20I5.
VI I . P E N A L T I E S /P U N I S H M E N T /C O M P O U N D I N G O F O F F E N C E S
There were no penalLiesfpunishmenLfcompounding ol ollences under Companies AcL lor Lhe year ending March 3I, 20I5.
For and on behalf of theBoard of Directors
Sd/-
DaLe . May I2, 20I5 0nkar S Kanwar
Place . 0urgaon (Chairman & Managing DirecLor)
A N N U A L R E P O R T 2 0 1 4 -1 5 | 8 9 8 8 | A P O L L O T YR E S L T D
C O R P O R A T E G O VE R N A N C E R E P O R T A N N E XU R E - V
Apollo Tyres' governance lramework en|oins Lhe highesL sLandards ol eLhical and responsible conducL ol business Lo
create value for all stakeholders. I t continues to focus on good corporate governance, in line with emerging local and
global sLandards. IL undersLands and respecLs iLs lduciary role in Lhe corporaLe world. Besides adhering Lo Lhe prescribed
corporaLe governance pracLices as per Clause 49 ol Lhe lisLing agreemenL, Lhe Company volunLarily governs iLsell as per
highest standards of ethical and responsibleconduct of business in all facets of its operations and in all interactions with
its stakeholders, includingshareholders, employees, consumers, lenders and thecommunityat large.
The ma|oriLy ol Lhe provisions ol Companies AcL, 20I3 became ellecLive lrom April I, 20I4.The prime locus ol Companies
AcL, 20I3 is on shareholders' democracy, higher Lransparency and more disclosures, E-0overnance, invesLor proLecLion
fminoriLy shareholders and on Prolessionals' enhanced role & accounLabiliLy. Your Company has iniLiaLed Lhe process ol
LranslormaLion lrom Companies AcL, I956 Lo Companies AcL, 20I3 in a phased manner since iLs noLilcaLion. The currenL
annual reporL ol your Company conLains all Lhe addiLional inlormaLion and disclosures which are required Lo be given
under Companies AcL, 20I3.
This reporL, along wiLh Lhe reporL on ManagemenL Discussion and Analysis and addiLional shareholders inlormaLion
provides Lhe deLails ol implemenLaLion ol Lhe corporaLe governance code by your Company as conLained in clause 49 ol
thelistingagreement:
1 . C o rp o ra te G o ve rn a n c e P h ilo s o p h y
AL Apollo Tyres LLd (Lhe Company), corporaLe governance brings direcLion and conLrol Lo Lhe allairs ol Lhe Company
in a fashion that ensures optimumreturn for stakeholders. Corporategovernanceis thebroad framework which
delnes Lhe way Lhe Company luncLions and inLeracLs wiLh iLs environmenL. IL is in compliance wiLh laws and
regulations in each of the markets the Company operates, leading to effective management of the organisation.
Moreover, Apollo in iLs |ourney Lowards susLainabiliLy is inLegraLing susLainabiliLy pracLices in iLs corporaLe
governancesystemwhich goes beyond compliance.
The Company is guided by a key seL ol values lor all iLs inLernal and exLernal inLeracLions.
SimulLaneously, in keeping wiLh Lhe besL pracLices, your Company seeks Lo execuLe Lhe pracLices ol corporaLe
governancebymaintainingstrongbusiness fundamentals and bydeliveringhigh performancethrough relentless
focus on thefollowing:
(a) Transparency by classilying and explaining Lhe Company's policies and acLions Lo Lhose Lowards whom iL has
responsibiliLies, including iLs employees. This implies Lhe maximum possible disclosures wiLhouL hampering Lhe
inLeresLs ol Lhe Company and Lhose ol iLs shareholders. The Company believes in promoLion ol eLhical values and
seLLing up exemplary sLandards ol eLhical behaviour in our conducL Lowards our business parLners, colleagues,
shareholders and general public,
(b) AccounLabiliLy is a key pillar, where Lhere cannoL be a compromise in any aspecL ol accounLabiliLy and lull
responsibiliLy, even as Lhe managemenL pursues prolLable growLh lor Lhe Company,
(c) Prolessionalism ensures LhaL managemenL Leams aL all levels are qualiled lor Lheir posiLions, have a clear
undersLanding ol Lheir roles and are capable ol exercising Lheir own |udgmenL, keeping in view Lhe Company's
inLeresLs, wiLhouL being sub|ecL Lo undue inluence lrom any exLernal or inLernal pressures,
(d) TrusLeeship brings inLo locus Lhe lduciary role ol Lhe managemenL Lo align and direcL Lhe acLions ol Lhe
organisaLion Lowards creaLing wealLh and shareholder value in Lhe Company's quesL Lo esLablish a global
neLwork, while abiding wiLh global norms and culLures,
(e) As parL ol CorporaLe PesponsibiliLy, Lhe Company believes in working Lowards susLainable developmenL -
environmenLal and social. Though Lhe |ourney on susLainabiliLy is recenL, iL is already a key pillar in iLs nexL lve
year growLh |ourney,
(l) Saleguarding inLegriLy ensures independenL verilcaLion and LruLhlul presenLaLion ol Lhe Company's lnancial
position. For this purpose, the Company has also constituted an Audit Committee which pays particular
aLLenLion Lo Lhe lnancial managemenL process,
(g) ConLinuous locus on Lraining and developmenL ol employees and workers Lo achieve Lhe overall corporaLe
ob|ecLives while ensuring employee inLegraLion across naLional boundaries.
Your Company is open, accessible and consisLenL wiLh iLs communicaLion. Apollo Tyres shares a long Lerm
perspecLive and lrmly believes LhaL good corporaLe governance pracLices underscore iLs drive Lowards compeLiLive
sLrengLh and susLained perlormance. Thus, overall corporaLe governance norms have been insLiLuLionalised as an
enablingand facilitatingbusiness process at theboard, management and at all operational levels.
2 . B o a rd o f D ire c to rs (S u p e rvis o ry B o a rd )
At Apollo, webelievethat an active, well-informed and independent board is necessaryto ensurehighest standards
ol CorporaLe 0overnance. The Board ol DirecLors (i.e. Supervisory Board) ol Apollo Tyres, being aL Lhe core ol
its Corporate Governance practice, plays the most pivotal role in overseeing how the management serves and
proLecLs Lhe long ¬ Lerm inLeresLs ol all our sLakeholders.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 9 1 9 0 | A P O L L O T YR E S L T D
Apollo's Board consisLs ol an opLimal combinaLion ol ExecuLive DirecLors and IndependenL DirecLors, represenLing
a |udicious mix ol prolessionalism, knowledge and experience. The DirecLors bring in experLise in Lhe lelds ol
human resource developmenL, sLraLegy, managemenL, legal, lnance and economics, among oLhers. The Board
provides leadership, sLraLegic guidance, ob|ecLive and independenL view Lo Lhe Company's managemenL while
discharging iLs lduciary responsibiliLies, Lhereby ensuring LhaL Lhe managemenL adheres Lo high sLandards ol
ethics, transparencyand disclosure.
(a ) C o m p o s itio n o f B o a rd : The size and composiLion ol Lhe Board as on March 3I, 20I5 exceeds Lhe requiremenLs
ol clause 49 ol Lhe lisLing agreemenL enLered wiLh Lhe sLock exchanges. The Company's Board ol DirecLors
consisL ol II ExecuLive and Non ExecuLive DirecLors, including leading prolessionals in Lheir respecLive lelds.
The lollowing is Lhe percenLage ol ExecuLive and Non ExecuLive DirecLors ol Lhe Company:
C a te g o ry o f D ire c to rs
N o . o f
D ire c to rs
% o f T o ta l n o . o f
D ire c to rs
ExecuLive 3 27
Non ExecuLive including IndependenL DirecLors 8 73
ToLal II I00
The consLiLuLion ol Lhe Board and aLLendance record ol DirecLors is given below.
N a m e /D e s ig n a tio n o f
D ire c to r
E x e c u tive /
N o n -E x e c u tive /
I n d e p e n d e n t
N o . o f p o s itio n s
h e ld in O th e r
C o m p a n ie s
N o . o f B o a rd
M e e tin g s
A tte n d e d
(3 )
A tte n d a n c e
a t la s t A G M
B o a rd
(1 )
C o m m itte e
(2 )
Mr Onkar S Kanwar
Chairman &
ManagingDirector
PromoLer ¬
ExecuLive
5 2 4 No
Mr Neera| Kanwar
vice Chairman &
ManagingDirector
ExecuLive 2 2 5 Yes
Mr AkshayChudasama Non-ExecuLive
I ndependent
I I 5 Yes
Mr A K Purwar Non-ExecuLive
I ndependent
7 4 5 Yes
Mr Nimesh N Kampani Non-ExecuLive
I ndependent
7 5 4 Yes
Mr P H Kurian
(4)

NomineeDirector
¬ 0ovL ol Kerala
(EquiLy InvesLor)
Non-ExecuLive II - 3 No
Mr PoberL SLeinmeLz Non-ExecuLive
I ndependent
- - 4 Yes
Mr SunamSarkar
Whole Lime DirecLor
ExecuLive - - 5 Yes
Dr S Narayan Non-ExecuLive
I ndependent
4 - 4 Yes
Mr vikram S MehLa Non-ExecuLive
I ndependent
8 I 4 Yes
Ms Pallavi Shroff Non-ExecuLive
I ndependent
5 I 3 No
C e a s e d to b e D ire c to r
Mr U S Oberoi
(5)

Chiel (CorporaLe Allairs) &
Whole Lime DirecLor
ExecuLive 2 - 4 Yes
Mr K dacob Thomas
(6)
Non-ExecuLive
I ndependent
3 I 4 Yes
(I)
This includes direcLorships held in public lLd. companies and subsidiaries ol public lLd. companies and excludes
directorships in privateltd. companies and overseas companies.
(2)
For thepurposeof committees of Board of Directors, onlyAudit and Stakeholders Relationship Committees in
other public ltd. companies and subsidiaries of public ltd. companies areconsidered.
(3)
During FY I5, lve Board MeeLings were held.
(4)
PursuanL Lo SecLion I49(6) ol Lhe Companies AcL, 20I3, Mr P H Kurian shall noL be LreaLed as an IndependenL
DirecLor w.e.l. April I, 20I4.
(5)
Mr U S 0beroi, Chiel (CorporaLe Allairs) & Whole Lime DirecLor ceased Lo be DirecLor ol Lhe Company wiLh
ellecL lrom November 26, 20I4 on reLiremenL.
(6)
Mr K dacob Thomas ceased Lo be DirecLor wiLh ellecL lrom May 8, 20I5 on resignaLion.
None ol Lhe DirecLors ol your Company is a member ol more Lhan I0 commiLLees or is Lhe Chairman ol more
Lhan lve commiLLees across all Lhe companies in which he is a DirecLor.
Ms Pallavi Shroll, ParLner ol Mfs. Amarchand & Mangaldas & Suresh A. Shroll & Co., carrying ouL pracLice ol
solicitors and advocates on record, to whomtheCompanyhas paid feeof 9.50 million lor FYI5 lor prolessional
advice rendered by Lhe lrm in which she is inLeresLed. The Board has deLermined LhaL such paymenL in Lhe
conLexL ol overall expendiLure by Lhe Company, is noL signilcanL and does noL allecL her independence.
Mr Akshay Chudasama is the Partner of M/s. J . Sagar Associates, carrying out practice of solicitors and
advocates on record, to whomtheCompanyhas paid feeof 6.70 million lor Lhe FYI5 lor prolessional advice
rendered by Lhe lrm in which he is inLeresLed. The Board has deLermined LhaL such paymenL in Lhe conLexL ol
overall expendiLure by Lhe Company, is noL signilcanL and does noL allecL his independence.
As required under Clause 49 ol Lhe LisLing AgreemenL, a separaLe meeLing ol Lhe IndependenL DirecLors was
held on 0cLober 29, 20I4. The IndependenL DirecLors aL Lhe meeLing reviewed Lhe lollowing.-
· Perlormance ol non independenL DirecLors and board as a whole,
· Perlormance ol Lhe Chairman ol Lhe Company, Laking inLo accounL Lhe views ol execuLive DirecLors and
non-execuLive DirecLors,
· Assessed Lhe qualiLy, quanLiLy and Limeliness ol low ol inlormaLion beLween Lhe Company managemenL and
theBoard that was necessaryfor theBoard to effectivelyand reasonablyperformtheir duties.
(b ) P e rfo rm a n c e e va lu a tio n o f I n d e p e n d e n t D ire c to rs .
The Company has devised a Policy lor perlormance evaluaLion ol IndependenL DirecLors, Board, CommiLLees
and oLher individual DirecLors which includes criLeria lor perlormance evaluaLion ol Lhe non-execuLive direcLors
and execuLive direcLors.
(c ) B o a rd F u n c tio n in g & P ro c e d u re : Apollo Tyres' Board is commiLLed Lo ensure good governance Lhrough a
sLyle ol luncLioning LhaL is sell-governing. The members ol Lhe Board always have compleLe liberLy Lo express
Lheir opinion and decisions are Laken on Lhe basis ol consensus arrived aL alLer deLailed discussions. They are
also freeto bringup anymatter for discussion at theBoard Meetings.
Apollo Tyres' Board meeLs aL leasL once in every quarLer Lo discuss and review Lhe quarLerly resulLs and oLher
iLems ol agenda, including Lhe inlormaLion required Lo be placed belore Lhe Board, as required under Annexure
IA ol clause 49 ol lisLing agreemenL, and addiLional meeLings are held as and when required. The meeLing
daLes are usually lnalized well belore Lhe beginning ol Lhe year. The Chairmanfvice Chairman ol Lhe Board and Lhe
CompanySecretarydiscuss theitems to beincluded in theagenda and thedetailed agenda, management reports
and oLher explanaLory sLaLemenLs are circulaLed well in advance ol Lhe meeLing. Senior ManagemenL ollcials
are called to provide additional inputs on the matters being discussed by the Board/Committee. Overseas
operaLing subsidiaries are represenLed Lhrough Lheir CE0's who make deLailed presenLaLions abouL working ol
their respectivecompanies.
The Board has an ellecLive posL meeLing lollow up procedure. ILems arising ouL ol previous Board MeeLing and
their follow up action report is placed at theimmediatelysucceedingmeetingfor information of theBoard.
(d ) R e la tio n s h ip a m o n g s t D ire c to rs : Mr.Neera| Kanwar, vice Chairman & Managing DirecLor is Lhe son ol Mr 0nkar
S Kanwar, Chairman & Managing DirecLor. None ol Lhe oLher DirecLors are relaLed Lo each oLher.
(e) ProñIe of the Chairman & Managing Director: As Lhe Chairman ol Apollo Tyres LLd, Mr 0nkar S Kanwar is Lhe
chiel archiLecL ol Lhe Company's vision and value-driven business sLraLegy. Under his able leadership, Apollo
becamea professionallymanaged and a globallyrecognised tyremanufacturer. As a visionaryentrepreneur, he
plays a criLical role in Lhe arLiculaLion ol Company's business philosophy.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 9 3 9 2 | A P O L L O T YR E S L T D
ModernisaLion, excellence and qualiLy are his guiding principles. PegisLered in I972, Apollo Tyres under his
guidance transformed itself froman I ndian manufacturer of commercial vehicle tyres, to a global entity with
a lull-ledged producL porLlolio, spanning 3 conLinenLs. Mr 0nkar S Kanwar is highly regarded lor his consLanL
emphasis on betteringthelives of people-- beit employees, customers, business partners, shareholders or any
other stakeholder - and responsiveness to changeand continuous learning.
He is Lhe PasL PresidenL ol Lhe FederaLion ol Indian Chambers ol Commerce and IndusLry (FICCI) and a lormer
Chairman ol Lhe AuLomoLive Tyre ManulacLurers' AssociaLion. He was also a member ol Lhe Indian InsLiLuLe
ol InlormaLion Technology Design & ManulacLuring (IIITDM). CurrenLly, aparL lrom being a member ol Lhe
Trade Advisory CommiLLee Lo Lhe 0overnmenL ol India, he is also a Member ol Lhe Board ol 0overnors lor Lhe
Indian InsLiLuLe ol ManagemenL (Kozhikode).
Mr 0nkar S Kanwar has a keen inLeresL in Lhe leld ol educaLion and healLh care. ArLemis HealLh Sciences,
promoted by him, is an enterprise focusing on state-of-the-art medical care and runs a cutting edge
multi-specialty medical facility which focuses on holistic treatment. An initiative close to his heart is Apollo
Tyres' HIv-AIDS awareness and prevenLion programme lor Lhe commercial vehicle driver communiLy,
implemenLed Lhrough Apollo Tyres FoundaLion's HealLh Care CenLres locaLed in large LranshipmenL hubs
across I ndia.
A Scienceand Administration graduatefromtheUniversityof California, Mr Onkar S Kanwar is a widelytravelled
individual. He devoLes a large parL ol his Lime Lo reading and is passionaLe abouL learning modern managemenL
practices and their successful application in business.
He has been conlerred wiLh 'ErnsL & Young EnLrepreneur ol Lhe Year award ¬ ManulacLuring' lor Lhe year 20I2.
(f) ProñIe of the Vice-Chairman & Managing Director: As Lhe vice Chairman & Managing DirecLor ol Apollo
Tyres, Mr Neera| Kanwar plays a pivoLal role in Apollo's |ourney Lowards becoming one ol Lhe mosL admired
auLomoLive Lyre brands. Mr Neera| Kanwar has pioneered key iniLiaLives in enhancing Lhe compeLiLiveness ol Lhe
Company's operaLions and producLs across Lhe board. He is responsible lor cralLing Apollo's growLh sLory , Laking
Lhe Company lrom USD 450 million Lo USD 2 billion wiLhin a 5 year Lime span. Under his able leadership Apollo
acquired Dunlop Tyres InLernaLional in SouLh Alrica and Zimbabwe in 2006, vredesLein Banden B v in Lhe
NeLherlands in 2009, and currenLly a 0reenleld laciliLy in Hungary is being seL-up, Lhereby Lranslorming iLsell
into a multi-geographyCompanywith operations across geographies.
Mr Neera| Kanwar began his career wiLh Apollo Tyres as Manager, ProducL & SLraLegic Planning, where he played
a crucial role in creaLing a bridge beLween Lhe Lwo key luncLions ol manulacLuring and markeLing. In I998, he
|oined Lhe Board ol DirecLors and was promoLed Lo Chiel, ManulacLuring and SLraLegic Planning. His managemenL
skills helped himbringoverarchingchanges in industrial relations, upgradation of technologyand benchmarking
on producL and ellciency parameLers.
In 2002, he Look over as Lhe Chiel 0peraLing 0llcer ol Lhe organisaLion, wherein he inLroduced value-driven process
improvemenLs in human resources and inlormaLion Lechnology. Mr Neera| Kanwar was appoinLed doinL Managing
DirecLor in 2006 and elevaLed Lo vice Chairman in 2008, and soon alLer Lo Managing DirecLor in 2009 lor his
initiatives in establishingthecompanyin theglobal arena.
As a business leader, Mr Neera| Kanwar is associaLed wiLh leading indusLry associaLions and was recenLly Lhe
Chairman ol Lhe AuLomoLive Tyre ManulacLurer's AssociaLion, India.
Mr Neera| Kanwar is a people-cenLric leader and believes in empowering employees Lo enable Lhem Lo underLake
ellecLive and ellcienL decisions aL all Limes. WiLhin Apollo, he is known lor his allable managemenL sLyle, and
combinework with liberal doses of fun.
An engineering graduaLe lrom Lehigh UniversiLy in Pennsylvania, USA, Mr Neera| Kanwar is an avid sporLs
person. He prelers Lo spend his leisure Lime wiLh his lamily or playing Lennis, swimming and Lravelling.
(g ) N o . & D a te s o f B o a rd M e e tin g s h e ld : During Lhe FYI5, 5 (Five) Board meeLings were held on May, I5, 20I4,
duly 2, 20I4, AugusL 6, 20I4, November I0, 20I4, and February 6, 20I5. The gap beLween any Lwo meeLings
never exceeded I20 days as per Lhe requiremenLs ol clause 49 ol LisLing AgreemenL.
(h ) S ta tu to ry C o m p lia n c e o f L a ws : The Board periodically reviews Lhe compliance reporL ol Lhe laws applicable Lo
theCompanyas well as steps taken bytheCompanyto rectifytheinstances of non-compliance, if any.
3 . M a n a g e m e n t B o a rd : To ensure expedienL and ellecLive locus on imporLanL issues, Lhe Company has consLiLuLed a
Management Board with a primaryaimto maintainingstrongbusiness fundamentals and deliveringhigh performance
through relentless focus on theaffairs of theCompanyacross all its geographies
The said ManagemenL Board consisLs ol I2 members comprising ol Lhe Company's senior managemenL Leam. The
ob|ecLive ol Lhe ManagemenL Board is Lo (i) policy making process lor key luncLions underLaken aL corporaLe level,
(ii) sharing & promoLing implemenLaLion ol process improvemenLs and besL pracLices and (iii) analysing cerLain key
operaLional maLLers fsLraLegic pro|ecLs, Lo enhance sLakeholders' value.
The ManagemenL Board generally meeLs once in every quarLer Lo perlorm iLs luncLions.
4 . A u d it C o m m itte e
The primary ob|ecLive ol Lhe AudiL CommiLLee is Lo moniLor and provide ellecLive supervision ol Lhe ManagemenL's
lnancial reporLing process wiLh a view Lo ensuring accuraLe and Limely disclosures, wiLh Lhe highesL levels ol
Lransparency, inLegriLy and qualiLy ol lnancial reporLing. The CommiLLee oversees Lhe work carried ouL in Lhe
lnancial reporLing process by Lhe ManagemenL, Lhe inLernal audiLors and Lhe independenL audiLor, and noLes Lhe
processes and safeguards employed by each. All possible measures are taken by the Committee to ensure the
ob|ecLiviLy and independence ol Lhe independenL audiLor.
(a ) C o m p o s itio n & T e rm s o f R e fe re n c e o f C o m m itte e
The Board ol DirecLors consLiLuLed an AudiL CommiLLee in Lhe year I992. The powers, role and Lerms ol relerence
ol Lhe AudiL CommiLLee covers Lhe areas as conLemplaLed under clause 49 ol Lhe lisLing agreemenL and
SecLion I77 ol Lhe Companies AcL, 20I3. The presenL AudiL CommiLLee comprises ol lollowing Lhree Non-
ExecuLive IndependenL DirecLors viz. Dr S Narayan, Mr Akshay Chudasama and Mr PoberL SLeinmeLz. Mr U S
0beroi, who was Lhe member ol Lhe commiLLee reLired as a DirecLor ol Lhe Company w.e.l. November 26, 20I4
and Mr K dacob Thomas resigned on May 8, 20I5 . ConsequenLly, Lhe AudiL CommiLLee was reconsLiLuLed
by inducLing Mr PoberL SLeinmeLz as a member ol Lhe CommiLLee. Dr S Narayan, IndependenL DirecLor acLs
as Lhe Chairman ol Lhe CommiLLee. All Lhe members are lnancially liLeraLe and possess Lhe requisiLe lnancialf
business acumen Lo specilcally look inLo Lhe inLernal conLrols and audiL procedures. Members have discussions
wiLh Lhe SLaLuLory AudiLors during Lhe meeLings ol Lhe commiLLee and Lhe quarLerlyf hall- yearly and annual
audiLed lnancials ol Lhe Company are reviewed by Lhe AudiL CommiLLee belore consideraLion and approval by
Lhe Board ol DirecLors. The CommiLLee also reviews InLernal ConLrol SysLems and IT sysLems.
As per Clause 49 ol Lhe lisLing agreemenL and SecLion I77 ol Lhe Companies AcL 20I3, Lhe AudiL CommiLLee
has been entrusted with thefollowingresponsibilities:-
· 0versighL ol Lhe Company's lnancial reporLing process and Lhe disclosure ol iLs lnancial inlormaLion Lo ensure
LhaL Lhe lnancial sLaLemenL is correcL, sullcienL and credible,
· PecommendaLion lor appoinLmenL, remuneraLion and Lerms ol appoinLmenL ol audiLors ol Lhe Company,
· Approval ol paymenL Lo sLaLuLory audiLors lor any oLher services rendered by Lhe sLaLuLory audiLors,
· Peviewing wiLh Lhe managemenL, Lhe annual lnancial sLaLemenLs and audiLor's reporL Lhereon belore
submission Lo Lhe board lor approval,
· Peviewing maLLers required Lo be included in Lhe DirecLor's PesponsibiliLy SLaLemenL Lo be included in Lhe
Board's reporL in Lerms ol clause (c) ol sub-secLion (3) ol secLion I34 ol Lhe Companies AcL, 20I3,
· Peviewing changes, il any, in accounLing policies and pracLices and reasons lor Lhe same,
· Peviewing ma|or accounLing enLries involving esLimaLes based on Lhe exercise ol |udgmenL by managemenL,
· Peviewing signilcanL ad|usLmenLs made in Lhe lnancial sLaLemenLs arising ouL ol audiL lndings,
· Peviewing compliance wiLh lisLing and oLher legal requiremenLs relaLing Lo lnancial sLaLemenLs,
· Peviewing disclosure ol any relaLed parLy LransacLions,
· Peviewing qualilcaLions in Lhe dralL audiL reporL,
· Peviewing wiLh Lhe managemenL, Lhe quarLerly lnancial sLaLemenLs belore submission Lo Lhe board lor
approval,
· Peviewing wiLh Lhe managemenL, Lhe sLaLemenL ol uses f applicaLion ol lunds raised Lhrough an issue (public
issue, righLs issue, prelerenLial issue, eLc.), Lhe sLaLemenL ol lunds uLilized lor purposes oLher Lhan Lhose sLaLed
in theoffer document / prospectus / noticeand thereport submitted bythemonitoringagency, monitoringthe
uLilizaLion ol proceeds ol a public or righLs issue, and making appropriaLe recommendaLions Lo Lhe Board Lo Lake
up sLeps in Lhis maLLer,
· Peview and moniLor Lhe audiLor's independence and perlormance, and ellecLiveness ol audiL process,
A N N U A L R E P O R T 2 0 1 4 -1 5 | 9 5 9 4 | A P O L L O T YR E S L T D
· Approval or any subsequenL modilcaLion ol LransacLions ol Lhe Company wiLh relaLed parLies,
· ScruLiny ol inLer-corporaLe loans and invesLmenLs,
· valuaLion ol underLakings or asseLs ol Lhe Company, wherever iL is necessary,
· EvaluaLion ol inLernal lnancial conLrols and risk managemenL sysLems,
· Peviewing wiLh Lhe managemenL, perlormance ol sLaLuLory and inLernal audiLors, adequacy ol Lhe inLernal
conLrol sysLems,
· Peviewing Lhe adequacy ol inLernal audiL luncLion, il any, including Lhe sLrucLure ol Lhe inLernal audiL
deparLmenL, sLallng and senioriLy ol Lhe ollcial heading Lhe deparLmenL, reporLing sLrucLure coverage and
lrequency ol inLernal audiL,
· Discussion wiLh inLernal audiLors ol any signilcanL lndings and lollow up Lhere on,
· Peviewing Lhe lndings ol any inLernal invesLigaLions by Lhe inLernal audiLors inLo maLLers where Lhere is
suspected fraud or irregularityor a failureof internal control systems of a material natureand reportingthe
maLLer Lo Lhe board,
· Discussion wiLh sLaLuLory audiLors belore Lhe audiL commences, abouL Lhe naLure and scope ol audiL as well as
posL-audiL discussion Lo ascerLain any area ol concern,
· To look inLo Lhe reasons lor subsLanLial delaulLs in Lhe paymenL Lo Lhe deposiLors, debenLure holders, share
holders (in case ol non-paymenL ol declared dividends) and crediLors,
· To review Lhe luncLioning ol Lhe WhisLle Blower mechanism,
· Approval ol appoinLmenL ol CF0 (i.e., Lhe whole-Lime Finance DirecLor or any oLher person heading Lhe lnance
luncLion or discharging LhaL luncLion) alLer assessing Lhe qualilcaLions, experience and background, eLc. ol Lhe
candidate.
(b ) M e e tin g s o f A u d it C o m m itte e a n d a tte n d a n c e o f m e m b e rs d u rin g th e ye a r
During Lhe FY I5, 4 (lour) AudiL CommiLLee meeLings were held on May I4, 20I4, AugusL 5, 20I4, 0cLober 3I,
20I4 and February 6, 20I5.
N a m e o f D ire c to r D e s ig n a tio n C a te g o ry o f D ire c to r N o . o f m e e tin g s a tte n d e d
Dr S Narayan Chairman Non- ExecuLive IndependenL 4
Mr AkshayChudasama Member Non- ExecuLive IndependenL 4
Mr PoberL SLeinmeLz (appoinLed as
Member w.e.l. February 6, 20I5)

Member

Non- ExecuLive IndependenL

N.A.
C e a s e d to b e M e m b e r
Mr U S Oberoi
(w.e.l. November 26, 20I4)

Member

ExecuLive

3
Mr K dacob Thomas
(w.e.l. May 8, 20I5)

Member

Non- ExecuLive IndependenL

4

In addiLion Lo Lhe members ol Lhe AudiL CommiLLee, Lhese meeLings were aLLended by vice Chairman & Managing
DirecLor, Chiel Financial 0llcer, PresidenL (APMEA), 0roup Head (CorporaLe AccounLs) and oLher luncLional
heads, I nternal Auditor, Cost Auditor and Statutory Auditor of the Company, wherever necessary, and those
execuLives ol Lhe Company who were considered necessary lor providing inpuLs Lo Lhe CommiLLee.
The Company SecreLary acLs as secreLary ol Lhe CommiLLee.
The Chairman ol Lhe AudiL CommiLLee, Dr S Narayan, was presenL aL Lhe Annual 0eneral MeeLing ol Lhe
Company held on AugusL 6, 20I4.
(c ) R o le o f I n te rn a l A u d ito r
Apollo Tyres has a robusL InLernal ConLrol lramework, which has been insLiLuLed considering Lhe naLure, size
and risk in Lhe business. The lramework comprises, inLer alia, ol a well-delned organisaLion sLrucLure, roles
and responsibiliLies, documenLed policies and procedures eLc. InlormaLion Technology policies and processes
were also updaLed Lo ensure LhaL Lhey saLisly Lhe currenL business needs. This is complemenLed by a
management information and monitoringsystem, which ensures complianceto internal processes, as well as
wiLh applicable laws and regulaLions. The operaLing managemenL is noL only responsible lor revenue and
prolLabiliLy, buL also lor mainLaining lnancial disciple and hygiene.
In order Lo ensure ellcienL InLernal ConLrol sysLems, Lhe Company also has a well esLablished independenL
in-house I nternal Audit function that is responsible for providing, assurance on compliance with operating
sysLems, inLernal policies and legal requiremenLs, as well as, suggesLing improvemenLs Lo sysLems and
processes. The InLernal AudiL has a well laid down inLernal audiL meLhodology, wiLh emphasis on risk based
internal audits usingdata analytics and tools.
The InLernal AudiL prepares a rolling annual inLernal audiL plan, comprising ol operaLional, lnancial, compliance
and inlormaLion sysLems audiLs, covering all Lhe locaLions, operaLions and geographies ol Lhe Company. The
audiL plan lor Lhe year is reviewed and approved by Lhe AudiL CommiLLee aL Lhe beginning ol each lnancial year.
The InLernal AudiL reporLs on quarLerly basis Lo Lhe AudiL CommiLLee, Lhe key inLernal audiL lndings, and acLion
plan agreed with themanagement, thestatus of audits vis-à-vis theapproved annual audit plan and status of
open audit issues.
(d ) S u b s id ia ry C o m p a n ie s
The Company does noL have any maLerial non-lisLed Indian Subsidiary Company.
The AudiL CommiLLee ol Lhe Company reviews Lhe lnancial sLaLemenLs, in parLicular Lhe invesLmenLs made by
all unlisLed overseas subsidiary companies. SignilcanL issues perLaining Lo subsidiary companies are also
discussed aL AudiL CommiLLee meeLings. A summarised sLaLemenL ol imporLanL maLLers relecLing all signilcanL
transactions and arrangements entered into bythesubsidiarycompanies, included in theminutes of theabove
overseas subsidiarycompanies areplaced beforetheBoard of Directors of theCompanyand aredulynoted by
Lhem. The perlormance ol all iLs subsidiaries is also reviewed by Lhe Board periodically.
5 . N o m in a tio n a n d R e m u n e ra tio n C o m m itte e
(a ) C o n s titu tio n a n d C o m p o s itio n o f th e C o m m itte e
The Board ol DirecLors had consLiLuLed a PemuneraLion CommiLLee in Lhe year 2003. The Board aL iLs
meeLing held on March 28, 20I4, had approved Lhe change in nomenclaLure ol Lhe commiLLee Lo NominaLion &
PemuneraLion CommiLLee, in accordance wiLh SecLion I78 ol Lhe Companies AcL, 20I3. The presenL
NominaLion and PemuneraLion CommiLLee comprises ol lour members which includes Lhree Non-ExecuLive
IndependenL DirecLors viz. Dr S Narayan, Mr Nimesh N Kampani, Mr Akshay Chudasama and Lhe
Chairman & Managing DirecLor, Mr 0nkar S Kanwar. Mr K dacob Thomas, who was Lhe member ol Lhe
committee ceased to be the member of the committee as he has resigned from the Directorship of
Lhe Company w.e.l. May 8, 20I5. Dr S Narayan is Lhe Chairman ol Lhe CommiLLee.
PursuanL Lo SecLion I78 ol Lhe Companies AcL 20I3 and Clause 49 ol Lhe LisLing AgreemenL, Lhe
NominaLion and PemuneraLion commiLLee was reconsLiLuLed, by inducLing Mr 0nkar S Kanwar, Chairman &
Managing DirecLor, as a member, ol Lhe CommiLLee, on November I0, 20I4.
The NominaLion and PemuneraLion CommiLLee has devised a policy on Board diversiLy in Lerms wiLh Lhe
requiremenL under clause 49 ol Lhe LisLing AgreemenL.
The Company SecreLary acLs as secreLary ol Lhe CommiLLee.
(b ) B rie f d e s c rip tio n o f th e T e rm s o f R e fe re n c e
The NominaLion and PemuneraLion CommiLLee has been enLrusLed wiLh Lhe responsibiliLies Lo review and
grant annual increments, vary and/or modify the terms and conditions of appointment/re-appointment
including remuneraLion and perquisiLes, commission eLc. payable Lo Managing DirecLors wiLhin Lhe overall
ceilingof remuneration as approved bythemembers.
The CommiLLee in iLs meeLing held on May I5, 20I4, noLed Lhe lollowing Lerms ol relerence pursuanL Lo SecLion
I78 ol Lhe Companies AcL, 20I3-
· FormulaLe Lhe criLeria lor deLermining qualilcaLions, posiLive aLLribuLes and independence ol a DirecLor and
recommend to theBoard a policy, relatingto theremuneration of theDirectors, keymanagerial personnel and
other employees.
· FormulaLion ol criLeria lor evaluaLion ol IndependenL DirecLors and Lhe Board.
· Devising a policy on Board diversiLy.
· IdenLilying persons who are qualiled Lo become DirecLors and who may be appoinLed in senior managemenL in
A N N U A L R E P O R T 2 0 1 4 -1 5 | 9 7 9 6 | A P O L L O T YR E S L T D
accordancewith thecriteria laid down, and recommend to theBoard their appointment and removal.
· To see LhaL Lhe level and composiLion ol remuneraLion is reasonable and sullcienL Lo aLLracL, reLain and moLivaLe
DirecLors ol Lhe qualiLy required Lo run Lhe Company successlully.
· To see LhaL Lhe relaLionship ol remuneraLion Lo perlormance is clear and meeLs appropriaLe perlormance
benchmarks.
· To see LhaL remuneraLion Lo DirecLors, key managerial personnel and senior managemenL involves a balance
beLween lxed and incenLive pay relecLing shorL and long-Lerm perlormance ob|ecLives appropriaLe Lo Lhe
workingof theCompanyand its goals.
· The NominaLion CommiLLee shall lay down Lhe evaluaLion criLeria lor perlormance evaluaLion ol independenL
Directors.
(c ) P o lic y fo r a p p o in tm e n t a n d re m u n e ra tio n
In Lerms ol SecLion I78 ol Lhe Companies AcL, 20I3 and clause 49 ol LisLing AgreemenL, enLered inLo by Lhe
Company wiLh SLock Exchanges, as amended lrom Lime Lo Lime, Lhis policy on nominaLion and remuneraLion
ol DirecLors, Key Managerial Personnel (KMP), Senior ManagemenL and oLher employees ol Lhe Company has
been formulated bytheNomination and Remuneration Committeeof theCompanyand approved bytheBoard
ol DirecLors. The relevanL exLracL ol Lhe aloresaid policy are given as below.
1 . C R I T E R I A F O R A P P O I N T M E N T O F D I R E C T O R A N D S E N I O R M A N A G E M E N T
The CommiLLee shall consider Lhe lollowing lacLors lor idenLilying Lhe person who are qualiled Lo becoming
Director and who can beappointed in senior management:
I.I The CommiLLee shall idenLily and ascerLain Lhe inLegriLy, qualilcaLion, experLise and experience ol Lhe
person for appointment as Director or at Senior Management level and recommend to theBoard his /
her appointment
I.2 A person should possess adequaLe qualilcaLion, experLise and experience lor Lhe posiLion he f she is
considered lor appoinLmenL. The CommiLLee has discreLion Lo decide wheLher qualilcaLion, experLise
and experience possessed by a person are sullcienL f saLislacLory lor Lhe concerned posiLion.
I.3 An independenL direcLor shall possess appropriaLe skills, experience and knowledge in one or more
lelds ol lnance, law, managemenL, sales, markeLing, adminisLraLion, research, corporaLe governance,
Lechnical operaLions or oLher disciplines relaLed Lo Lhe Company's business.
I.4 The Company may appoinL or conLinue Lhe employmenL ol any person as WholeLime DirecLor who
has aLLained Lhe age ol sevenLy years sub|ecL Lo Lhe approval ol shareholders by passing a special
resoluLion. The explanaLory sLaLemenL annexed Lo Lhe noLice lor such moLion indicaLing Lhe |usLilcaLion
for appointingsuch person.
I.5 The Company should ensure LhaL Lhe person so appoinLed as DirecLorf IndependenL DirecLorf Senior
ManagemenL Personnel shall noL be disqualiled under Lhe Companies AcL, 20I3, rules made Lhereunder,
or anyother enactment for thetimebeingin force.
I.6 The DirecLorf IndependenL DirecLorf Senior ManagemenL Personnel shall be appoinLed as per Lhe
procedure laid down under Lhe provisions ol Lhe Companies AcL, 20I3, rules made Lhereunder, or under
listingagreement or anyother enactment for thetimebeingin force.
I.7 IndependenL DirecLor shall meeL all criLeria speciled in SecLion I49(6) ol Lhe Companies AcL, 20I3 and
rules made Lhereunder andfor as speciled in Clause 49 (II) (B) ol Lhe lisLing agreemenL.
The Lerm "Senior ManagemenL" means Lhe personnel ol Lhe Company who are members ol iLs core
managemenL Leam excluding Board ol DirecLors comprising all members ol managemneL one level
below Lhe execuLive direcLors, including Lhe luncLional heads.
The NominaLion and PemuneraLion CommiLLee shall have discreLion Lo consider and lx any oLher criLe-
ria or norms lor selecLion ol Lhe mosL suiLable candidaLe(s).
2 . C R I T E R I A F O R D E T E R M I N I N G P O S I T I VE A T T R I B U T E S & I N D E P E N D E N C E O F D I R E C T O R S
C rite ria fo r d e te rm in in g p o s itive a ttrib u te s :
The CommiLLee shall consider Lhe lollowing lacLors lor deLermining posiLive aLLribuLes ol direcLors (including
independenL direcLors).
2.I DirecLors are Lo demonsLraLe inLegriLy, credibiliLy, LrusLworLhiness, abiliLy Lo handle conlicL
constructively, and thewillingness to address issues proactively.
2.2 AcLively updaLe Lheir knowledge and skills wiLh Lhe laLesL developmenLs in Lhe TyrefAuLomobile indusLry,
market conditions and applicablelegal provisions.
2.3 Willingness Lo devoLe sullcienL Lime and aLLenLion Lo Lhe Company's business and discharge Lheir responsibiliLies.
2.4 To assisL in bringing independenL |udgmenL Lo bear on Lhe Board's deliberaLions especially on issues ol sLraLegy,
performance, risk management, resources, keyappointments and standards of conduct.
2.5 AbiliLy Lo develop a good working relaLionship wiLh oLher Board members and conLribuLe Lo Lhe Board's working
relationship with thesenior management of theCompany.
2.6 To acL wiLhin Lheir auLhoriLy, assisL in proLecLing Lhe legiLimaLe inLeresLs ol Lhe Company, iLs shareholders and
employees.
C rite ria fo r d e te rm in in g I n d e p e n d e n c e :
The IndependenL DirecLor shall qualily Lhe criLeria ol independence menLioned in SecLion I49(6) ol Lhe
Companies AcL, 20I3 and rules relaLed LhereLo and in Clause 49(II)(B) ol Lhe lisLing agreemenL.
3 . R E M U N E R A T I O N O F D I R E C T O R S , K M P , S E N I O R M A N A G E M E N T P E R S O N N E L A N D O T H E R E M P L O YE E S
0n Lhe appoinLmenL or re-appoinLmenL ol Managing DirecLor, Whole-Lime DirecLor and KMPs, Lhe CommiLLee will
recommend Lo Lhe Board lor Lheir approval, Lhe remuneraLion Lo be paid Lo Lhem. The remuneraLion Lo be paid Lo Lhe
Senior ManagemenL Personnel and oLher employees shall be as per HP policy ol Lhe Company.
The annual incremenL ol remuneraLion lor Managing DirecLorfWhole-Lime DirecLors shall be made on Lhe basis
ol Lhe resoluLion approved by Lhe shareholders. The annual incremenL in Salary ol KMPs (oLher Lhan Managing
DirecLorfWhole-Lime DirecLors), Senior ManagemenL Personnel and oLher employees shall be made as per HP policy
of theCompany.
The level and composiLion ol remuneraLion as deLermined by Lhe CommiLLee shall be reasonable and sullcienL Lo
aLLracL, reLain and moLivaLe DirecLors, Key Managerial Personnel and Senior ManagemenL ol Lhe qualiLy required Lo
run theCompanysuccessfully.
The relaLionship ol remuneraLion Lo perlormance should be clear and meeL appropriaLe perlormance benchmarks.
The remuneraLion should also involve a balance beLween lxed and incenLive pay relecLing shorL and long-Lerm
perlormance ob|ecLives appropriaLe Lo Lhe working ol Lhe Company and iLs goals.
3 . 1 G e n e ra l:
3.I.I NominaLion and PemuneraLion CommiLLee shall recommend Lo Lhe Board lor iLs approval, Lhe remuneraLion,
including Lhe commission based on Lhe neL prolLs ol Lhe Company lor Lhe Non-ExecuLive DirecLors and Whole-Lime
DirecLor and oLher ExecuLive DirecLors. The remuneraLion shall be sub|ecL Lo Lhe priorfposL approval ol Lhe share-
holders ol Lhe Company and CenLral 0overnmenL, wherever required.
3 . 2 R e m u n e ra tio n to Wh o le -tim e / M a n a g in g D ire c to r
3.2.I Fixed pay.
The Whole-Lime DirecLor f Managing DirecLor shall be eligible lor remuneraLion as may be approved by Lhe
Shareholders ol Lhe Company on Lhe recommendaLion ol Lhe CommiLLee and Lhe Board ol DirecLors. The break-up
ol Lhe pay scale, perlormance bonus and quanLum ol perquisiLes including, employer's conLribuLion Lo P.F, pension
scheme, medical expenses, club lees eLc. shall be decided and approved by Lhe Board on Lhe recommendaLion ol
theCommitteeand shall bewithin theoverall remuneration approved bytheshareholders and Central Government,
wherever required.
3.2.2 Minimum PemuneraLion.
Il, in any lnancial year, Lhe Company has no prolLs or iLs prolLs are inadequaLe, Lhe Company shall pay remuneraLion
Lo iLs Whole-Lime DirecLor f Managing DirecLor in accordance wiLh Lhe provisions ol Lhe Companies AcL, 20I3.
3.2.3 Provisions lor excess remuneraLion.
Il any Whole-Lime DirecLor f Managing DirecLor draws or receives, direcLly or indirecLly by way ol remuneraLion any
such sums in excess ol Lhe limiLs prescribed under Lhe AcL or wiLhouL Lhe prior sancLion ol Lhe CenLral 0overnmenL,
where required, he f she shall relund such sums Lo Lhe Company and unLil such sum is relunded, hold iL in LrusL lor
Lhe Company. The Company shall noL waive recovery ol such sum relundable Lo iL unless permiLLed by Lhe CenLral
Government.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 9 9 9 8 | A P O L L O T YR E S L T D
3 . 3 R e m u n e ra tio n to N o n - E x e c u tive / I n d e p e n d e n t D ire c to r:
3.3.I SiLLing Fees.
The Non- ExecuLive f IndependenL DirecLor may receive remuneraLion by way ol lees lor aLLending meeLings
ol Board or CommiLLee Lhereol. Provided LhaL Lhe amounL ol such lees shall noL exceed INP 0ne lakh per
meetingof theBoard or Committeeor such amount as maybeprescribed bytheCentral Government fromtime
Lo Lime.The quanLum ol siLLing lees will be deLermined as per Lhe recommendaLion ol NominaLion and
Remuneration Committee and approved by the Board of Directors of the Company. Further, the boarding and
lodging expenses shall be reimbursed Lo Lhe DirecLors.
3.3.2 Commission.
The prolL-linked Commission shall be paid wiLhin Lhe moneLary limiL approved by Lhe BoardfShareholders ol
Lhe Company sub|ecL Lo Lhe same noL exceeding Iº ol Lhe neL prolLs ol Lhe Company compuLed as per Lhe
applicableprovisions of theRegulations.
3.3.3 SLock 0pLions.
Pursuant to the provisions of the Act, an I ndependent Director shall not be entitled to any stock option of
the Company. Only such employees of the Company and its subsidiaries as approved by the Nomination and
PemuneraLion CommiLLee will be granLed ES0Ps.
3 . 4 R e m u n e ra tio n to K M P , S e n io r M a n a g e m e n t P e rs o n n e l a n d O th e r E m p lo ye e s
The KMP, Senior ManagemenL Personnel and oLher employees ol Lhe Company shall be paid monLhly
remuneraLion as per Lhe Company's HP policies and f or as may be approved by Lhe CommiLLee. The break-up
ol Lhe pay scale and quanLum ol perquisiLes including, employer's conLribuLion Lo P.F, pension scheme, medical
expenses, club lees eLc. shall be as per Lhe Company's HP policies.
The annual variable pay ol managers is linked Lo Lhe perlormance ol Lhe Company in general and Lheir individual
perlormance lor Lhe relevanL year measured againsL Company's ob|ecLives lxed in Lhe beginning ol Lhe year.
This PemuneraLion Policy shall apply Lo all luLure f conLinuing employmenL f engagemenL(s) wiLh Lhe Company.
I n other respects, theRemuneration Policyshall beof guidancefor theBoard.
(d ) M e e tin g s o f N o m in a tio n a n d R e m u n e ra tio n C o m m itte e a n d A tte n d a n c e o f m e m b e rs d u rin g th e ye a r
During FYI5, 2 (Lwo) NominaLion and PemuneraLion CommiLLee meeLings were held on May I5, 20I4 and
February 6, 20I5.
N a m e o f D ire c to r D e s ig n a tio n C a te g o ry o f D ire c to r N o . o f m e e tin g s a tte n d e d
Dr S Narayan Chairman Non- ExecuLive IndependenL 2
Mr Onkar S Kanwar
(appoinLed as member w.e.l.
November I0, 20I4)

Member

ExecuLive

I
Mr Akshay Chudasama Member Non- ExecuLive IndependenL 2
Mr Nimesh N Kampani
(appoinLed as member w.e.l.
May I2, 20I5)

Member

Non- ExecuLive IndependenL

N.A.
C e a s e d to b e M e m b e r
Mr K dacob Thomas
(w.e.l. May 8, 20I5)

Member

Non- ExecuLive IndependenL

2
(e ) P a ym e n t o f re m u n e ra tio n /s ittin g fe e to th e D ire c to rs e tc .
The deLails ol remuneraLion paid Lo DirecLors during FYI5 are given below.
(i) E x e c u tive D ire c to rs /C F O /C o m p a n y S e c re ta ry: ( M illio n )
P a rtic u la rs M r O n k a r
S K a n wa r,
M a n a g in g
D ire c to r
M r N e e ra j
K a n wa r,
M a n a g in g
D ire c to r
M r S u n a m
S a rk a r,
Wh o le T im e
D ire c to r
M r U S O b e ro i
(c e a s e d to b e
D ire c to r w. e . f.
N o ve m b e r 2 6 ,
2 0 1 4 )
M r P N
Wa h a l,
C o m p a n y
S e c re ta ry*
M r R a j
B a n e rji,
C F O (w. e . f.
F e b ru a ry
6 , 2 0 1 5 )
Salary 48.00 28.80 7.44 I.84 2.22
**
Contribution to PF/
Superannuation/
Gratuity
I5.27 8.00 2.63 0.58 0.60
Commission/
PerformanceBonus
295.00 I95.00 I0.I3 2.9I 3.I7
PerquisiLes 58.83 4I.20 2I.62 I.67 8.23
T o ta l R e m u n e ra tio n 4 1 7 . 1 0 2 7 3 . 0 0 4 1 . 8 2 7 . 0 0 1 4 . 2 2
Stock Option N.A N.A N.A N.A N.A N.A
Servicecontracts,
noticeperiod,
severancefees
N.A N.A N.A N.A N.A N.A
*Mr P N Wahal ceased Lo be Lhe Company SecreLary w.e.l. April I, 20I5.
**Mr Pa| Baner|i was appoinLed as CF0 in place ol Mr Sunam Sarkar w.e.l. February 6, 20I5. Mr Pa| Banaer|i
has received remuneraLion lrom wholly owned overseas subsidiary ol Lhe Company. Mr Baner|i has resigned
w.e.l. April 30, 20I5. Mr 0aurav Kumar has been appoinLed as CF0 w.e.l. May I2, 20I5.
N o te s : -
I) Managing DirecLor(s) f Whole Lime DirecLor are enLiLled Lo perlormance linked incenLive in Lhe lorm ol
commission as approved bythemembers.
2) The raLio ol remuneraLion ol each direcLor Lo Lhe median remuneraLion ol Lhe employees ol Lhe
Company lor Lhe FYI5 was as lollows. Mr 0nkar S Kanwar ¬ I069, Mr Neera| Kanwar ¬ 700 and
Mr Sunam Sarkar ¬ I07.
3) The percenLage increase in Lhe remuneraLion during FYI5 over Lhe pervious lnancial was as
lollows. Mr 0nkar S Kanwar-37º, Mr Neera| Kanwar-92º, Mr Sunam Sarkar-9º and Mr P N Wahal-26º. The
percenLage increase in Lhe median remuneraLion ol employees was 8º. The increase in remuneraLion ol
Managing DirecLor(s) is mainly on accounL ol increase in commission linked Lo neL prolLs.
The percenLage increase in Lhe remuneraLion by way ol commission ol non execuLive direcLors was and
theratio to median remuneration of employees areas under:
N a m e o f D ire c to r R e m u n e ra tio n fo r
F Y1 5 (` M illio n )
R e m u n e ra tio n fo r
F Y1 4 (` M illio n )
% in c re a s e in
R e m u n e ra tio n
R a tio to m e d ia n
re m u n e ra tio n o f
e m p lo ye e s
Mr A K Purwar 5.56 3.0I 85 I4.23
Mr AkshayChudasama
(I)
5.56 I.I6 NA NA
Mr P H Kurian
(2)
5.56 4.78 NA NA
Mr K dacob Thomas 5.56 3.0I 85 I4.23
Mr Nimesh N Kampani 5.56 3.0I 85 I4.23
Ms Pallavi Shroff
(3)
4.89 - NA NA
Mr PoberL SLeinmeLz 5.56 3.0I 85 I4.23
Dr S Narayan 5.56 3.0I 85 I4.23
Mr Shardul S Shroff
(4)
0.67 3.0I NA NA
Mr vikram S MehLa 5.56 3.0I 85 I4.23
Mr M P B Pun|a
(5)
- 2.99 NA NA

A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 0 1 1 0 0 | A P O L L O T YR E S L T D

(I)
AppoinLed w.e.l. November II, 20I3

(2)
PaymenL ol Commission was paid Lo 0overnmenL ol Kerala lor Lwo nominee DirecLors during FY I4 and lor one
nominee DirecLor during FY I5.

(3)
AppoinLed w.e.l. May I5, 20I4

(4)
Ceased w.e.l. May I5, 20I4

(5)
Ceased w.e.l. March 28, 20I4
4) The number ol permanenL employees on Lhe rolls ol Company were II,I35 as on March 3I, 20I5.
5) The explanaLion on Lhe relaLionship beLween average increase in remuneraLion and Company's perlormance.
The neL prolL growLh during FYI5 was 46º whereas Lhe average remuneraLion ol employees grew by 8º over
Lhe previous lscal. This was based on Lhe recommendaLion as per HP Policy.
6) Comparison ol Lhe remuneraLion ol Lhe Key Managerial Personnel againsL Lhe perlormance ol Lhe Company .
The neL prolL growLh during FYI5 was 46º (lrom 4426.I9 Million in FYI4 Lo 6450.8I Million in FYI5)
whereas Lhe remuneraLion ol Lhe Key Managerial Personnel grew by 49º over Lhe previous lscal year (lrom
506.30 Million in FYI4 Lo 753.I4 Million in FYI5).
7) a) variaLions in Lhe markeL capiLalizaLion ol Lhe Company . The markeL capiLalizaLion ol Lhe Company as on March
3I, 20I5 was 85643 million ( 80442 million as on March 3I, 20I4). MarkeL capiLalizaLion increased by 6.47º
on March 3I, 20I5 in comparison Lo March 3I, 20I4.
b) Price earnings raLio . Price earnings raLio ol Lhe Company was I3.25 as on March 3I, 20I5 and was I8.I8 as aL
March 3I, 20I4.
c) PercenLage increase or decrease in Lhe markeL quoLaLions ol Lhe shares ol Lhe Company in comparison Lo Lhe
raLe aL which Lhe Company came ouL wiLh Lhe lasL public oller . The Company had come ouL wiLh iniLial public
oller (IP0) in I975. An amounL ol I,000f- invesLed in Lhe said IP0 would be worLh I,68,250f- as on March
3I, 20I5 indicaLing a growLh ol I6,825 º. This is excluding Lhe dividend accrued Lhereon lrom Lime Lo Lime.
8) Average percenLile increase already made in Lhe salaries ol employees oLher Lhan Lhe managerial personnel in
Lhe lasL lnancial year and iLs comparison wiLh Lhe percenLile increase in Lhe managerial remuneraLion and
|usLilcaLion Lhereol and poinL ouL il Lhere are any excepLional circumsLances lor increase in Lhe managerial
remuneration:-
Average percenLage increase made in Lhe salaries ol employees oLher Lhan Lhe managerial personnel FYI5
was 8º whereas Lhe managerial remuneraLion lor Lhe same lnancial year increased by 49º. The increase in
managerial remuneraLion aLLribuLed due Lo increase in paymenL ol commission linked Lo neL prolLs ol Lhe
Company which increased by 46º lor Lhe FYI5.
9) Comparison ol Lhe remuneraLion ol each Key Managerial Personnel againsL Lhe perlormance ol Lhe Company .
The percenLage increase in Lhe remuneraLion during FYI5 over Lhe previous lnancial year
was as lollows. Mr 0nkar S Kanwar-37º, Mr Neera| Kanwar-92º, Mr Sunam Sarkar-9º and
Mr P N Wahal-26º. The neL prolL growLh during FYI5 was 46º.
I0) Key parameLers lor any variable componenL ol remuneraLion availed by Lhe DirecLors is ProlL linked commission.
II) There is no employee in Lhe Company who is geLLing remuneraLion exceeding Lo highesL paid DirecLor during
FYI5.
I2) PemuneraLion paid Lo Lhe DirecLors is in accordance wiLh Lhe remuneraLion policy ol Lhe Company.
(ii) N o n -E x e c u tive s D ire c to rs : SiLLing lee and commission paidfLo be paid Lo Lhe Non-ExecuLive DirecLors is in
pursuanceof theresolution passed bytheBoard.
N a m e o f D ire c to r S ittin g fe e ( M illio n ) C o m m is s io n p ro vid e d fo r
th e F Y1 5 ( M illio n )
N o . o f S h a re s h e ld a s o n
M a rc h 3 1 , 2 0 1 5
Mr A K Purwar 0.60 5.56 -
Mr AkshayChudasama I.I0 5.56 -
Mr P H Kurian
(I)
0.30 5.56 -
N a m e o f D ire c to r S ittin g fe e ( M illio n ) C o m m is s io n p ro vid e d fo r
th e F Y1 5 ( M illio n )
N o . o f S h a re s h e ld a s o n
M a rc h 3 1 , 2 0 1 5
Mr K dacob Thomas
(2)
I.I0 5.56 442050
Mr Nimesh N Kampani 0.50 5.56 -
Ms Pallavi Shroff
(3)
0.50 4.89 -
Mr PoberL SLeinmeLz 0.50 5.56 -
Dr S Narayan I.30 5.56 -
Mr Shardul S Shroff
(4)
0.00 0.67 -
Mr vikram S MehLa 0.40 5.56 6000

(I)
Sittingfee/Commission payableto Government of Kerala

(2)
Ceased w.e.l. May 8, 20I5

(3)
AppoinLed w.e.l. May I5, 20I4

(4)
Ceased w.e.l. May I5, 20I4
An amount of 50 million be paid and disbursed amongsL Lhe DirecLors ol Lhe Company (oLher Lhan Managing
and Whole-Lime DirecLors) equally in proporLion Lo Lheir Lenure ol DirecLorship lor Lhe lnancial year ended 3IsL
March, 20I5.
No converLible inLrumenLs ol Lhe Company were ouLsLanding as on March 3I, 20I5
6 . S ta k e h o ld e rs R e la tio n s h ip C o m m itte e
SLakeholders PelaLionship CommiLLee lormerly known as Shareholders' fInvesLors' Translerf0rievance CommiLLee,
looks after thesharetransfer work besides redressal of shareholder complaints.
The Board ol DirecLors ol Lhe Company has wiLh a view Lo expediLing Lhe process ol share Lranslers delegaLed Lhe
power ol share Lransler upLo I0,000 shares Lo Whole Time DirecLor andfor Company SecreLary who aLLend Lo share
Lransler lormaliLies as and when required. The share Lransler requesLs lor shares beyond Lhe aloresaid limiLs are
processed bytheCommitteeitself.
(a ) C o n s titu tio n a n d C o m p o s itio n o f th e C o m m itte e
The presenL SLakeholders PelaLionship CommiLLee comprises ol lollowing lve DirecLors viz. Dr S Narayan,
Mr 0nkar S Kanwar, Mr Neera| Kanwar, Mr Sunam Sarkar and Ms Pallavi Shroll. Dr S Narayan, IndependenL
Director acts as theChairman of theCommittee.
The Company SecreLary acLs as Lhe SecreLary Lo Lhe CommiLLee as well as Lhe Compliance 0llcer pursuanL Lo
clause 47(a) ol Lhe lisLing agreemenL wiLh sLock exchanges.
(b ) T e rm s o f re fe re n c e
This CommiLLee has been lormed wiLh a view Lo underLake Lhe lollowing. -
· Approval ol LranslerfLransmission ol sharesfdebenLures issued by Lhe Company, issue ol duplicaLe cerLilcaLes
and cerLilcaLes alLer spliLfconsolidaLionf replacemenL.
· Looking inLo Lhe redressal ol shareholders' and invesLors' complainLs and oLher areas ol invesLor services.
(c ) M e e tin g s o f S ta k e h o ld e rs R e la tio n s h ip C o m m itte e a n d a tte n d a n c e o f m e m b e rs d u rin g th e ye a r
During FY I5, 9 (nine) meeLings ol Lhe SLakeholders PelaLionship CommiLLee were held on May 5, 20I4, dune 2,
20I4, dune I9, 20I4, duly 4, 20I4, AugusL II, 20I4, SepLember I7, 20I4, 0cLober I4, 20I4, November 2I, 20I4
and February 6, 20I5.
N a m e o f D ire c to r D e s ig n a tio n C a te g o ry o f D ire c to r N o . o f m e e tin g s a tte n d e d
Dr S Narayan
(w.e.l. November I0, 20I4)
Chairman Non-ExecuLive IndependenL I
Mr Onkar S Kanwar
(w.e.l. November I0, 20I4)
Member ExecuLive I
Mr Neera| Kanwar Member ExecuLive 2
Mr SunamSarkar Member ExecuLive 9
Ms Pallavi Shroff
(w.e.l. November I0, 20I4)
Member Non-ExecuLive IndependenL I
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 0 3 1 0 2 | A P O L L O T YR E S L T D
C e a s e d to b e a M e m b e r
N a m e o f D ire c to r D e s ig n a tio n C a te g o ry o f D ire c to r N o . o f m e e tin g s a tte n d e d
Mr U S Oberoi
(w.e.l. November 26, 20I4)
Member ExecuLive 8
Mr K dacob Thomas
(w.e.l. November I0, 20I4)
Member Non-ExecuLive IndependenL -
(d ) N o . o f s h a re h o ld e rs ’ c o m p la in ts re c e ive d
During FY I5, Lhe Company received 36 complainLs. As on daLe, no complainLs are pending oLher Lhan Lhose,
which are under litigation, disputes or court orders. All other complaints were attended and resolved to the
satisfaction of theshareholders.
7 . C o rp o ra te S o c ia l R e s p o n s ib ility(C S R ) C o m m itte e
(a ) A b rie f o u tlin e o f th e C o m p a n y’s C S R P o lic y
The Company is commiLLed Lo incorporaLing policies, sysLems and approaches Lo achieve iLs posiLive impacL
growLh ob|ecLives. Deeply inherenL in our vision sLaLemenL are Lhe principles ol susLainabiliLy. The CSP approach
sLems lrom our vision sLaLemenL locusing on ¨conLinuously enhancing sLakeholder value", which includes
Lhe larger socieLy and environmenL in which Lhe Company operaLes. The CSP philosophy ol Lhe Company
rests on theprincipleof sustainabilityand self reliance. I t also embeds a dimension of philanthropy. At thecore
ol Apollo's responsibiliLy beliel is sLakeholder engagemenL. ConsequenLly all Lhe pro|ecLs Lhe Company has link
Lo iLs sLakeholders, Lhe issues Lhey lace and Lhe issues organizaLion has idenLiled Lo supporL on philanLhropy
front.
(b ) C o m p o s itio n o f C S R C o m m itte e
Accordingly, Lhe Board ol DirecLors aL iLs meeLing held on March 28, 20I4 consLiLuLed Lhe ¨CorporaLe Social
PesponsibiliLy CommiLLee" comprising ol lollowing Lhree DirecLors viz Mr 0nkar S Kanwar, Dr S Narayan and
Mr SunamSarkar. Mr Onkar S Kanwar acts as theChairman of theCommittee.
(c ) M e e tin g s o f C S R C o m m itte e a n d a tte n d a n c e o f m e m b e rs d u rin g th e ye a r.
During FYI5, I (one) meeLing ol CSP CommiLLee was held on 0cLober 3I, 20I4.-
N a m e o f D ire c to r D e s ig n a tio n C a te g o ry o f D ire c to r N o . o f m e e tin g s a tte n d e d
Mr Onkar S Kanwar Chairman ExecuLive I
Dr S Narayan Member Non-ExecuLive IndependenL I
Mr SunamSarkar Member ExecuLive I
Your Company has also laid down a CSP Policy in order Lo execuLe iLs various CSP IniLiaLives.
The Company SecreLary acLs as Lhe SecreLary Lo Lhe CommiLLee.
8. CED[CFD Certiñcation
The Managing DirecLor and CF0 have submiLLed cerLilcaLe, in Lerms ol clause 49 ol Lhe lisLing agreemenL, Lo Lhe
Board.
9 . G e n e ra l B o d y M e e tin g s
(a ) T h e la s t th re e A n n u a l G e n e ra l M e e tin g s we re h e ld a s u n d e r:
F in a n c ia l Ye a r D a te T im e Ve n u e S p e c ia l R e s o lu tio n P a s s e d
20I3-20I4 06.08.20I4 I0.00 A.M Kerala FineArts
TheaLre, Fine ArLs
Avenue, Foreshore
Poad, Ernakulam,
Kochi (Kerala)
I) To auLhorize raising ol lunds Lhrough
issueof Securities.
2) To auLhorize placemenL ol Non-
ConvertibleDebentures.
3) To approve Lhe increase in Lhe limiLs ol
FIIs Holding in Lhe Company
20I2-20I3 07.08.20I3 -do- -do- No Special Resolution was passed
20II-20I2 09.08.20I2 -do- -do- No Special Resolution was passed
(b ) R e s o lu tio n s p a s s e d la s t ye a r th ro u g h p o s ta l b a llo t:
i) PesoluLions passed during FYI5. PursuanL Lo SecLion II0 ol Lhe Companies AcL, 20I3, read wiLh Lhe Pule
22 ol Lhe Companies (ManagemenL and AdminisLraLion) Pules, 20I4, Lhe Company had conducLed Lhe lollowing
voLing Lhrough posLal balloL and senL Lhe posLal balloL lorm Lo shareholders. The lollowing resoluLions were
passed through postal ballot :-
L a s t D a te o f D is p a tc h o f
P o s ta l B a llo t F o rm s
I te m s a p p ro ve d b y th e
s h a re h o ld e rs
D a te o f p a s s in g o f
re s o lu tio n
O rd in a ry/ S p e c ia l
re s o lu tio n
06.0I.20I5 i) LimiLs ol Borrowing ufs I80 (I) (c)
ol Lhe Companies AcL 20I3.
ii) CreaLion ol SecuriLy ufs I80 (I)
(a) ol Lhe Companies AcL 20I3 in
connection with theborrowings of the
Company.
09.02.20I5 Special Resolutions
voLing PaLLern ol Lhe resoluLions passed Lhrough posLal balloL, are as lollows.
I te m N o . 1 : L im its o f B o rro win g u n d e r S e c tio n 1 8 0 (1 ) (c ) o f th e C o m p a n ie s A c t 2 0 1 3
P a rtic u la rs P h ys ic a l E -Vo tin g T o ta l
Number of Postal Ballots received I369 829 2I98
ToLal number ol valid voLes 30I483I 343I52557 346I67388
voLes casL in lavour ol Lhe PesoluLion 2992735 34I865637 344858372
voLes casL againsL Lhe PesoluLion 20336 I0622 30958
voLes absLained lrom casLing I760 I276298 I278058
PequisiLe ma|oriLy ol voLes lor carrying Lhe resoluLion as a
Special Resolution
6I008 3I866 92874
Ma|oriLy ol voLes received in lavour ol Lhe PesoluLion 2972399 34I8550I5 3448274I4
Number of invalid Postal Ballots 27 0 27
Number of invalid votes I8045 0 I8045
I te m N o . 2 : C re a tio n o f S e c u rity u n d e r S e c tio n 1 8 0 (1 ) (a ) o f th e C o m p a n ie s A c t 2 0 1 3
P a rtic u la rs P h ys ic a l E -Vo tin g T o ta l
Number of Postal Ballots received I369 834 2203
ToLal number ol valid voLes 30I483I 343I54938 346I69769
voLes casL in lavour ol Lhe PesoluLion 2989570 34I867770 344857340
voLes casL againsL Lhe PesoluLion 23506 I0870 34376
voLes absLained lrom casLing I755 I276298 I278053
PequisiLe ma|oriLy ol voLes lor carrying Lhe resoluLion as a
Special Resolution
705I8 326I0 I03I28
Ma|oriLy ol voLes received in lavour ol Lhe PesoluLion 2966064 34I856900 344822964
Number of invalid Postal Ballots 27 0 27
Number of invalid votes I8045 0 I8045
ii) Mr P P Zibi dose, PracLicing Company SecreLary, was appoinLed as Lhe ScruLinizer Lo conducL Lhe posLal balloL
process in a fair and transparent manner.
iii) Procedure lor posLal balloL.- Where a Company is required or decides Lo pass any resoluLion by way ol posLal
balloL, iL shall send a noLice Lo all Lhe shareholders, along wiLh a dralL resoluLion explaining Lhe reasons Lhere
ol and requesLing Lhem Lo send Lheir assenL or dissenL in wriLing on a posLal balloL because posLal balloL means
votingbypost or through electronic means within a period of thirtydays fromthedateof dispatch of thenotice.
Your Company has lollowed Lhe aloresaid procedure sLipulaLed in Lhe Companies AcL, 20I3 and has carried ouL
Postal Ballot for theitems mentioned above.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 0 5 1 0 4 | A P O L L O T YR E S L T D
1 0 . D is c lo s u re s
(a ) R e la te d P a rty T ra n s a c tio n s
In Compliance wiLh SecLion I88 ol Lhe Companies AcL 20I3, Pevised Clause 49 ol Lhe LisLing AgreemenL) and
rules as applicable, Lhe Company has lramed a Policy on PelaLed ParLy TransacLions including policy on
maLerialiLy ol relaLed parLy LransacLions. The policy is Lo regulaLe LransacLions beLween Lhe Company and iLs
relaLed parLies based on Lhe laws and regulaLions applicable Lo Lhe Company. The policy has become ellecLive
lrom 0cLober I, 20I4.
Duringtheyear, no transaction of material naturehas been entered into bytheCompanywith its Promoters, the
DirecLors or Lhe ManagemenL, Lheir subsidiary or relaLives eLc. LhaL may have a poLenLial conlicL wiLh Lhe
inLeresLs ol Lhe Company. The PegisLer ol ConLracLs conLaining LransacLions, in which DirecLors are inLeresLed,
is placed belore Lhe board regularly. PelaLed ParLies LransacLions wiLh Lhem as required under AccounLing
SLandard (AS-I8) are lurnished under NoLes on AccounLs aLLached wiLh Lhe lnancial sLaLemenLs lor Lhe year
ended March 3I, 20I5.
(b ) D is c lo s u re o f a c c o u n tin g tre a tm e n t
There has noL been any change in accounLing policies ol Lhe Company during Lhe year.
(c ) R is k M a n a g e m e n t
The Company's acLiviLies expose iL Lo a varieLy ol risks including markeL risk, sales risk, raw maLerial risk,
regulaLory risk, producL liabiliLy and liquidiLy risk eLc. The Company's overall risk managemenL seeks Lo minimise
potential adverseeffects on its performance.
A Pisk ManagemenL SLeering CommiLLee ol Lhe Company has been lormed headed by PresidenL (APMEA) as
Chairman ol Lhe CommiLLee and represenLed by Lhe luncLional heads as Chiel Pisk ollcers .The CommiLLee
embraces Lhe idenLilcaLion, assessmenL, miLigaLion, moniLoring and reporLing ol maLerial risks laced by Lhe
Company.
The Pisk ManagemenL SLeering CommiLLee meeLs quarLerly and discusses Lhe updaLed prolles ol ma|or risks in
each luncLional area LogeLher wiLh possible miLigaLion conLrols and acLion plans. The ob|ecLive is Lo assisL Lhe
Board Lo mainLain high sLandards ol business conducL and Lo proLecL Lhe Company's asseLs, achieve susLainable
business growLh and ensure compliances wiLh applicable legal and regulaLory requiremenLs.
The Company has made iLs Pisk CharLer and Pisk PegisLer eLc. on Lhe basis ol comprehensive sLudy underLaken
by an independenL consulLancy lrm Lo lrame a risk managemenL policyfinLernal conLrol lrame work. The Boardf
Audit Committeeperiodicallyreviews therisks and opportunities and plans to mitigatethesame.
(d ) C o m p lia n c e b y th e C o m p a n y
The Company has maLerially complied wiLh Lhe requiremenLs ol Lhe SLock Exchanges, SEBI and oLher sLaLuLory
authorities on all matters relating to capital markets during the last three years. No penalties or strictures
have been imposed on Lhe Company by Lhe sLock exchanges, SEBI or any oLher sLaLuLory auLhoriLies relaLing Lo
Lhe above. The Company has developed an inLegraLed compliance dashboard which provides reasonable
assuranceto theManagement and theBoard of Directors regardingeffectiveness of timelycompliances.
The dashboard has been documenLed Lo provide a comprehensive view ol.
· applicable laws Lo Lhe Company
· key conLrol poinLs
· allocaLion ol responsibiliLies
(e ) T ra n s fe r o f U n c la im e d /U n d e live re d S h a re s
As per Lhe provisions ol clause 5AII ol Lhe lisLing agreemenL (SEBI circular no. CIPfCFDfDILfI0f20I0 daLed
December I6, 20I0) Lhe unclaimedfundelivered shares lying in Lhe possession ol Lhe Company are required
Lo be demaLerialised and Lranslerred inLo a ¨Unclaimed Suspense AccounL" held by Lhe Company. In compliance
wiLh Lhe said amendmenL, Lhe Company has senL Lhree leLLers Lo such shareholders whose share cerLilcaLes
are in undelivered lorm and hence remained unclaimed, by requesLing Lhem Lo updaLe correcL deLails viz. posLal
addresses, PAN details etc. registered with theCompanyin order to avoid transfer of such unclaimed shares to
Lhe ¨Unclaimed Suspense AccounL." The Company has iniLiaLed Lhe process ol demaLerialisaLion and Lransler
ol said unclaimedfundelivered shares inLo an ¨Unclaimed Suspense AccounL" The sLaLus ol unclaimed shares
as on March 3I, 20I5 are as under .-
Aggregatenumber of shareholders and theoutstandingshares in thesuspenseaccount
lying aL Lhe beginning ol Lhe year, i.e., April I, 20I4
I459730
Number of shareholders who approached to theCompanyfor transfer of shares from
suspenseaccount duringtheyear
30
Number of shareholders to whomshares weretransferred fromsuspenseaccount during
theyear
26250
Aggregatenumber of shareholders and theoutstandingshares in thesuspenseaccount
lying aL Lhe end ol Lhe year, i.e., March 3I, 20I5
I433480
The voLing righLs on Lhese shares shall remain lrozen Lill Lhe righLlul owner ol such shares claims Lhe shares.
Shareholders who have noL yeL claimed Lheir shares are requesLed Lo immediaLely approach Lhe Company by
lorwarding a requesL leLLer duly signed by all Lhe shareholders lurnishing aloresaid deLails Lo enable Lhe
Companyto credit/issuetheshares to therightful owner.
IL may be noLed LhaL all Lhe corporaLe benelLs accruing on Lhese shares like bonus, spliLs eLc. also will be
crediLed Lo Lhe said ¨Unclaimed Suspense AccounL" and Lhe voLing righLs on Lhese shares shall remain lrozen
until therightful owner has claimed theshares.
(f) D is c lo s u re in te rm s o f C la u s e 4 9 o f th e L is tin g A g re e m e n t
There are no inLer-se relaLionships beLween Lhe Board members excepL Mr 0nkar S Kanwar and Mr Neera|
Kanwar beingfather and son.
1 1 . M e a n s o f c o m m u n ic a tio n
- The quarLerlyfhall yearly and annual lnancial resulLs ol Lhe Company are normally published in Business
SLandard (naLional daily) and Kerala Kaumudi (regional daily). In addiLion Lo Lhe above, quarLerly and annual
results aredisplayed at our websiteat www.apollotyres.comfor theinformation of all shareholders.
- All maLerial inlormaLion abouL Lhe Company is prompLly senL Lo Lhe sLock exchanges and Lhe Company
regularly updaLes Lhe media and invesLor communiLy abouL iLs lnancial as well as oLher organisaLional
developments.
- The LranscripL ol Lhe AnalysLfInvesLor Conlerence Call is posLed on Lhe websiLe ol Lhe company.
1 2 . G e n e ra l S h a re h o ld e r I n fo rm a tio n
a) Pegistered Dfñce 6Lh Floor
CherupushpamBuilding
ShanmughamRoad
Kochi 68203I, Kerala
Ph.-9I 484 238I808, 2372767
b ) A n n u a l G e n e ra l M e e tin g :
- DaLe . AugusL II, 20I5
- Day . Tuesday
- Time . I0.00 a.m
- venue . Kerala Fine ArLs TheaLre
FineArts Avenue
ForeshoreRoad
Ernakulum, Kochi (Kerala)
- PosLing ol Annual PeporL . 0n or belore duly I8, 20I5.
- LasL daLe ol receipL ol . AugusL 9, 20I5 belore I0.00 a.m
Proxy lorm
c ) F in a n c ia l C a le n d a r fo r F Y1 6
Financial PeporLing lor Lhe quarLer ending dune 30, 20I5. 0n or belore AugusL I4, 20I5.
Financial PeporLing lor Lhe quarLer ending SepLember 30, 20I5. 0n or belore November I4, 20I5.
Financial PeporLing lor Lhe quarLer ending December 3I, 20I5. 0n or belore February I4, 20I6.
Financial PeporLing lor Lhe quarLerfyear ending March 3I, 20I6 . 0n or belore May 30, 20I6.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 0 7 1 0 6 | A P O L L O T YR E S L T D
d ) D a te s o f B o o k -C lo s u re
The daLes ol Lhe book closure shall be lrom AugusL 6, 20I5 Lo AugusL II, 20I5 (boLh days inclusive).
e ) D ivid e n d P a ym e n t
The dividend ol 2.00 per equiLy share lor Lhe FY I5, sub|ecL Lo approval lrom shareholders, has been
recommended by Lhe Board ol DirecLors. The same shall be paid on or alLer AugusL II, 20I5 buL wiLhin Lhe
statutorytimelimit.
f) U n c la im e d D ivid e n d s
As provided in secLion 205A and 205C ol Lhe Companies AcL, I956, dividend lor Lhe lnancial year ended March
3I, 2008 and LherealLer, which remain unpaid or unclaimed lor a period ol 7 years, will be Lranslerred Lo Lhe
InvesLor EducaLion and ProLecLion Fund (IEP Fund) esLablished by Lhe CenLral 0overnmenL, and no paymenLs
shall be made in respecL ol any such claims by Lhe IEP Fund.
During the year, the Company had transferred I7.20 lac lying unclaimed in Unpaid Dividend AccounL in
respecL ol Dividend lor Lhe year 2006-07 Lo Lhe said Fund on SepLember 20, 20I4.
g ) L is tin g a t S to c k E x c h a n g e s *
I. NaLional SLock Exchange ol India LLd 2. BSE LLd
Exchange Plaza, Bandra Kurla Complex Phiro|e dee|eebhoy Towers
Bandra (E), Mumbai-400 05I IsL Floor, Dalal SLreeL
T. +9I 22 26598I00-I4 Mumbai 40000I
F. +9I 22 26598237-38 T. +9I 22 2272I233f34
El. cmlisL_nse.co.in F. +9I 22 2272I9I9f3027
E. corp.relaLions_bseindia.com
The annual lisLing lee lor FYI6 has been paid Lo all Lhe aloresaid sLock exchanges.
*WiLh regard Lo Cochin SLock Exchange, "SecuriLies and Exchange Board ol India (SEBI) has granLed exiL order
daLed December 23, 20I4 Lo Lhe Cochin SLock Exchange (CSE) and Lhe SLock Exchange has reLurned iLs license
Lo SEBI. In lighL ol Lhe said order, all Lhe provisions ol LisLing AgreemenL, would be applicable Lo Companies
lisLed wiLh CSE, Lill Lhe quarLer ended December 3I, 20I4. As Lhe Cochin SLock Exchange is no longer in
exisLence, your Company would remain lisLed on NSE & BSE"
h ) S to c k C o d e
BSE LLd, 500877
NaLional SLock Exchange ol India LLd. AP0LL0TYPE
i) S to c k M a rk e t P ric e D a ta fo r th e ye a r 2 0 1 4 -1 5 : T h e C o m p a n y’s s h a re p ric e o n N S E a n d N ifty I n d e x
Month NSE NilLy Index
High ( ) Low ( ) volume
(in million)
High Low
April, 20I4 I78.90 I54.50 7I.20 6869.85 6650.40
May, 20I4 I93.95 I57.55 99.20 7563.50 6638.55
dune, 20I4 2I3.40 I75.00 85.67 7700.05 7239.50
duly, 20I4 2I4.80 I64.25 87.03 7840.95 7422.I5
AugusL, 20I4 I90.00 I60.55 84.55 7968.25 7540.I0
SepLember,20I4 2I7.80 I66.70 I6I.63 8035.00 784I.80
0cLober, 20I4 226.75 I96.00 I09.08 8330.75 7723.85
November, 20I4 242.95 2I4.35 70.25 86I7.00 8290.25
December, 20I4 242.75 2I0.00 57.50 8623.00 796I.35
danuary, 20I5 246.00 2I4.50 54.69 8985.05 8III.35
February, 20I5 249.80 I70.45 II6.62 894I.I0 8470.50
March, 20I5 I83.40 I55.00 7I.44 9II9.20 8269.I5
T h e C o m p a n y’s s h a re p ric e o n B S E a n d S e n s e x
Month BSE SENSEX
High ( ) Low( ) volume
(in million)
High Low
April, 20I4 I78.90 I50.90 I0.83 22,939.3I 22,I97.5I
May, 20I4 I93.90 I57.55 I3.58 25,375.63 22,277.04
dune, 20I4 2I3.25 I75.80 I0.80 25,725.I2 24,270.20
duly, 20I4 2I4.80 I64.55 9.I6 26,300.I7 24,892.00
AugusL, 20I4 I89.90 I60.85 9.86 26,674.38 25,232.82
SepLember,20I4 2I7.70 I66.35 I9.5I 27,354.99 26,220.49
0cLober, 20I4 226.70 I96.40 II.34 27,894.32 25,9I0.77
November, 20I4 242.70 2I4.35 7.05 28,822.37 27,739.56
December, 20I4 242.60 205.50 5.9I 28,809.64 26,469.42
danuary, 20I5 245.80 2I5.00 5.05 29,844.I6 26,776.I2
February, 20I5 249.45 I70.45 I3.77 29,560.32 28,044.49
March, 20I5 I83.35 I54.70 II.69 30,024.74 27,248.45
j) S h a re s T ra d e d d u rin g A p ril 1 , 2 0 1 4 to M a rc h 3 1 , 2 0 1 5
Particulars BSE NSE
No.ol shares Lraded (in million) I28.55 I068.86
HighesL Share Price (in ) 249.45 249.80
LowesL Share Price (in ) I50.90 I54.50
Closing Share Price (as on March 3I, 20I5) I68.25 I68.25
MarkeL CapiLalizaLion (as on March 3I, 20I5) (in million) 85643.42 85643.42
k ) E lim in a tio n o f D u p lic a te M a ilin g
The shareholders who are holding physical shares in more Lhan one lolio in idenLical name, or in |oinL holder's
name in similar order, may send Lhe Share cerLilcaLe(s), along wiLh requesL lor consolidaLion ol holding in one
folio, to avoid mailingof multipleannual reports.
l) S h a re T ra n s fe r S ys te m
To expediLe Lhe share Lransler in physical segmenL, SLakeholders PelaLionship CommiLLee has auLhorised
Whole-Lime DirecLor andfor Company SecreLary Lo approve Lransler ol securiLies upLo I0,000 received lrom
individuals on weekly basis. In case ol approval ol Lransler ol securiLies over I0,000, Lhe SLakeholders
Relationship Committeemeets at periodical intervals. I n anycase, all sharetransfers arecompleted within the
prescribed Lime limiL lrom Lhe daLe ol receipL, il documenL meeLs Lhe sLipulaLed requiremenL ol sLaLuLory
provisions in all respecLs. In relerence Lo SEBI direcLives, Lhe Company is providing Lhe laciliLy lor Lransler and
demaLerializaLion ol securiLies simulLaneously. The LoLal no. ol shares Lranslerred during Lhe year were 80,32I.
All thetransfers werecompleted within stipulated time.
As per Lhe requiremenL ol clause 47 (c) ol Lhe lisLing agreemenL wiLh Lhe sLock exchanges, Lhe Company has
obLained Lhe hall yearly cerLilcaLes lrom Lhe Company secreLary in pracLice lor due compliance ol share Lransler
formalities.
m ) D is trib u tio n o f S h a re h o ld in g
The lollowing is Lhe disLribuLion ol shareholding ol equiLy shares ol Lhe Company as on March 3I, 20I5.-
C a te g o ry N o . o f S h a re h o ld e rs % o f S h a re h o ld e rs N o . o f S h a re s H e ld % o f s h a re h o ld in g
I-5000 I29838 99.I7 3545I084 6.96
500I-I0000 483 0.37 360I672 0.7I
I000I-20000 I96 0.I5 2864672 0.56
2000I-30000 63 0.05 I5559I4 0.3I
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 0 9 1 0 8 | A P O L L O T YR E S L T D
3000I-40000 28 0.02 I0I5592 0.20
4000I-50000 20 0.0I 9I5290 0.I8
5000I-I00000 65 0.05 4802I66 0.94
I0000I & above 230 0.I8 4588I8380 90.I4
ToLal I30923 I00.00 509024770 I00.00
The PromoLer and PromoLer group hold 224.26 million shares consLiLuLing 44.06º ol Lhe share capiLal ol Lhe
Company as on March 3I, 20I5.
n ) R e c o n c ilia tio n o f S h a re C a p ita l A u d it
As sLipulaLed by SEBI, a qualiled Company secreLary in pracLice conducLs Lhe PeconciliaLion ol Share CapiLal
Audit of theCompanyfor thepurposeof reconciliation of total admitted capital with thedepositories, i.e. NSDL
and CDSL, and thetotal issued and listed capital of theCompany.
The Company secreLary in pracLice conducLs such audiL in every quarLer and issues a PeconciliaLion ol Share
CapiLal AudiL CerLilcaLe Lo Lhis ellecL Lo Lhe Company. A copy ol such audiL reporL is submiLLed Lo Lhe sLock
exchanges, where Lhe Company's shares are lisLed and is also placed belore Lhe Board.
o ) D e m a te ria lis a tio n o f S h a re s a n d L iq u id ity
The equiLy shares ol Lhe Company are being Lraded under compulsorily demaL lorm as per SEBI noLilcaLion.
The Company's shares are Lradable compulsorily in elecLronic lorm and are available lor Lrading in Lhe deposiLory
sysLems ol boLh NaLional SecuriLies DeposiLory LLd. (NSDL) and CenLral DeposiLory Services (India) LLd. (CDSL).
The InLernaLional SecuriLies IdenLilcaLion Number (ISIN) ol Lhe Company, as alloLLed by NSDL and CDSL, is
INE438A0I022.
As on March 3I, 20I5, 97.77º ol Lhe share capiLal sLands demaLerialised. BSE and NSE have permiLLed Lrading
ol Apollo Tyres' share inLo luLure and opLion (F&0) segmenL wiLh ellecL lrom February I9, 20I0.
p ) S h a re T ra n s fe r/D e m a t R e g is try wo rk
All share LranslersfdemaL are being processed in house. The Company has esLablished direcL connecLiviLy wiLh
NSDL/CDSL for carryingout demat completelyin house.
q ) S h a re T ra n s fe r D e p a rtm e n t
All communications regardingchangeof address for shares held in physical form, dividend etc. should besent
aL Lhe Company's corporaLe ollce aL.-
Apollo Tyres LLd
Apollo House, 7, InsLiLuLional Area
SecLor-32, 0urgaon¬I22 00I(Haryana)
T. +9I I24 272I000
F. +9I I24 238 335I
E. invesLors_apolloLyres.com
r) E C S M a n d a te
All shareholders are requesLed Lo updaLe Lheir bank accounL deLails wiLh Lheir respecLive deposiLories urgenLly.
This would laciliLaLe Lransler ol dividend direcLly Lo Lhe bank accounL ol Lhe shareholders.
s ) E -vo tin g
To widen Lhe parLicipaLion ol shareholders in Company decision pursuanL Lo provisions ol secLion I08 ol
Companies AcL, 20I3 read wiLh Pule 20 ol The Companies (ManagemenL and AdminisLraLion) Pules, 20I4, Lhe
Company has provided e-voLing laciliLy Lo iLs shareholders, in respecL ol all shareholder's resoluLions Lo be
passed at general meetings.
R e g is te r e -m a il a d d re s s
To conLribuLe Lowards greener environmenL, Lhe Company proposes Lo send documenLs like shareholders
meeLing noLicefoLher noLices, audiLed lnancial sLaLemenLs, DirecLor's reporL, audiLors' reporL or any oLher
document, to members in electronic format the e-mail address provided by themand/or available to the
CompanybytheDepositories.
Members who have noL yeL regisLered Lheir e-mail address (including Lhose who wish Lo change Lheir already
regisLered e-mail address) may geL Lhe same regisLeredfupdaLed eiLher wiLh Lheir deposiLory parLicipanLs or by
writingto theCompany.
t) P la n t L o c a tio n :
I. Perambra, P 0 Chalakudy
Trichur 680689, Kerala
2. Limda, Taluka Waghodia
DisL. vadodara 39I760, 0u|araL
3. SIPC0T IndusLrial 0rowLh CenLre
0ragadam, Chennai, Tamil Nadu
u ) A d d re s s fo r c o rre s p o n d e n c e : Secretarial Department
lor share LranslerfdemaL Apollo Tyres LLd.
ol shares, paymenL ol dividend Apollo House, 7 InsLiLuLional Area
and any oLher query relaLing SecLor 32, 0urgaon I2200I
Lo shares. Tel. +9I I24-272I000
v) A s o n M a rc h 3 1 , 2 0 1 5 , th e re we re n o o u ts ta n d in g G D R s /A D R s / Wa rra n ts o r a n y c o n ve rtib le in s tru m e n ts .
w) A d o p tio n o f m a n d a to ry a n d n o n -m a n d a to ry re q u ire m e n ts o f C la u s e 4 9
The Company has compiled wiLh all mandaLory requiremenLs ol Clause 49 ol Lhe LisLing AgreemenL. The
Company has adopLed lollowing non-mandaLory requiremenLs ol Clause 49 ol Lhe LisLing AgreemenL .-
Audit DuaIiñcation
The Company is in Lhe regime ol unqualiled lnancial sLaLemenLs.
1 3 . A d d itio n a l I n fo rm a tio n
a ) I n ve s to r R e la tio n s S e c tio n
The InvesLors PelaLions SecLion is locaLed aL Lhe corporaLe ollce ol Lhe Company.
ConLacL person . Ms. Seema Thapar, Compliance 0llcer
Time . I0.00 am Lo 6.00 pm on all working days ol Lhe Company (excepL SaLurdays and Sundays)
T. . +9I I24 272I000
F. . +9I I24 238335I
E. . invesLors_apolloLyres.com
b ) B a n k e rs
ANZ Banking 0roup LLd I CI C Bank Ltd
Axis Bank LLd I DBI Bank Ltd
Bank of I ndia IN0 vysya Bank LLd
Barclays Bank PLC Kotak Mahindra Bank Ltd
BNP Paribas Standard Chartered Bank
Canara Bank StateBank of I ndia
Citibank N.A. StateBank of Mysore
Corporation Bank SLaLe Bank 0l Travancore
Credit AgricoleCI B The Bank 0l Nova ScoLia
DBS Bank Ltd The Bank ol Tokyo-MiLsubishi UFd LLd
DeutscheBank UCOBank
HDFC Bank Union Bank of I ndia
HSBC LLd Yes Bank LLd
c ) A u d ito rs
DeloiLLe Haskins & Sells, Chennai, CharLered AccounLanLs.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 1 1 1 1 0 | A P O L L O T YR E S L T D
d ) C o s t A u d ito rs
N P 0opalakrishnan & Co., CosL AccounLanLs.
WiLh relerence Lo Lhe 0eneral Circular No. I5f20II ¬ 52f5fCAB-20II daLed April II, 20II issued by Lhe
Government of I ndia, Ministryof CorporateAffairs, Cost Audit Branch, New Delhi, followingarethedetails of
CosL AudiLor and lling ol cosL audiL reporL wiLh CenLral 0overnmenL.
P a rtic u la rs o f th e C o s t A u d ito r DetaiIs of Cost Audit Peport ñIed for the period
e n d e d M a rc h 3 1 , 2 0 1 4
Mr N P Sukumaran
(M No.4503)
AparLmenL No.3II
4Lh Floor, D.D.vyapar Bhawan,
K.P.vallon Poad, KadavanLhra P 0
Kochi - 682 020(Kerala)
E mail . npgco_sily.com
Filing daLe. AugusL 30, 20I4
e ) C o d e o f C o n d u c t fo r P re ve n tio n o f I n s id e r T ra d in g
In compliance wiLh Lhe SEBI regulaLions on prevenLion ol insider Lrading, Lhe Company has
lormulaLed a comprehensive Code ol ConducL lor 'PrevenLion ol Insider Trading' in Lhe securiLies ol
Lhe Company. This Code ol ConducL is applicable Lo PromoLers, DirecLors, Chiels, 0roup Heads,
Heads, and such oLher employees ol Lhe Company and oLhers who are expecLed Lo have
access to unpublished pricesensitiveinformation.
The Board aL iLs meeLing held on May I2, 20I5 has approved Lhe revised Code ol ConducL lor PrevenLion ol
Insider Trading, in Lerms wiLh Lhe SEBI (ProhibiLion ol Insider Trading) PegulaLions, 20I5, ellecLive lrom
May I5, 20I5.
The Code ol ConducL lays down guidelines advising Lhem on procedures Lo be lollowed and disclosures Lo be
made while dealing wiLh Lhe shares ol Lhe Company, and cauLioning Lhem ol consequences ol violaLions. The
Company SecreLary ol Lhe Company is Lhe Compliance ollcer.
f) C o d e o f C o n d u c t fo r D ire c to rs a n d S e n io r M a n a g e m e n t
The Board ol DirecLors ol Apollo Tyres has laid down a code ol business conducL called ¨The Code ol ConducL
lor DirecLors and Senior ManagemenL". The Code envisages LhaL Board ol DirecLors and Senior ManagemenL
must act within thebounds of theauthorityconferred upon themand with a dutyto makeand keep themselves
inlormed abouL Lhe developmenL in Lhe indusLry in which Lhe Company is involved and Lhe legal requiremenLs Lo
be lulllled.
The Code is applicable Lo all Lhe DirecLors and Senior ManagemenL ol Lhe Company. The Company SecreLary ol
Lhe Company is Lhe compliance ollcer.
g ) Wh is tle B lo we r P o lic y / Vig il M e c h a n is m
Apollo Tyres believes in Lhe conducL ol iLs business allairs in a lair and LransparenL manner by adopLing
highest standards of professionalism, honesty, integrityand ethical behavior. I n order to inculcateaccountability
and Lransparency in iLs business conducL, Lhe Company has been consLanLly reviewing iLs exisLing sysLems
and procedures. Your Company has approved a whisLle blower policy which will enable all employees, DirecLors
and other stakeholders to raisetheir genuineconcerns internallyin a responsible and effectivemanner if and
when theydiscover information which theybelieveshows serious malpracticeor irregularitywithin theCompany
and/or to report to themanagement instances of unethical behavior, actual or suspected, fraud or violation of
Company's code ol conducL or eLhics policy.

In Lerms wiLh Lhe policy, an InLernal 0rievance Pedressal CommiLLee (IC) has been consLiLuLed by Lhe Company,
which is headed bytheChairman of theAudit Committeeof theBoard. CompanySecretaryof theCompanyacts
as an 0mbudsman who, on receipL ol ComplainL, examines Lhe possible inLenLions and genuineness ol Lhe
disclosure in advance belore relerring iL Lo Lhe IC lor invesLigaLions. The IC, alLer invesLigaLion, submiLs a reporL
to theAudit Committee.
h ) C o d e o f P ra c tic e s a n d P ro c e d u re s fo r F a ir D is c lo u s u re
The Board aL iLs meeLing held on May I2, 20I5 has approved Lhe Code ol PracLices and Procedures lor Fair
Disclosure ol Unpublished Price SensiLive InlormaLion, in Lerms wiLh Lhe SEBI (ProhibiLion ol Insider Trading)
PegulaLions, 20I5, ellecLive lrom May I5, 20I5.
The Code lays down broad sLandards ol compliance and eLhics, as required by Lhe lisLing agreemenL(s) and
oLher applicable SEBI regulaLions. The Code is required Lo be complied in respecL ol all corporaLe disclosures
in respect of theCompanyand/or its subsidiarycompanies, includingoverseas subsidiaries.
The Company SecreLary ol Lhe Company is Lhe compliance ollcer.
i) P o lic y to p re ve n t a n d d e a l with s e x u a l h a ra s s m e n t
The Company is an equal employmenL opporLuniLy employer and is commiLLed Lo creaLing a healLhy and
producLive work environmenL LhaL enables employees Lo work wiLhouL lear ol pre|udice, gender bias and sexual
harassmenL. The Company believes LhaL an acL ol sexual harassmenL resulLs in Lhe violaLion ol Lhe lundamenLal
righLs ol a woman. Such acLs violaLe her righL Lo equaliLy, righL Lo lile and Lo live wiLh digniLy and righL Lo pracLice
anyprofession or to carryon anyoccupation, tradeor business, which also includes a right to havea safeand
healLhy work environmenL lree lrom sexual harassmenL.
In keeping wiLh iLs beliel and in Lerms ol Lhe Sexual HarassmenL ol Women aL Workplace (PrevenLion,
ProhibiLion and Pedressal) AcL, 20I3 and rule Lhereol, Lhe Company adopLs Lhe policy Lo prevenL and deal
wiLh sexual harassmenL ol women aL Lhe workplace. The Company is commiLLed Lo provide Lo all women, who
are presenL aL Lhe workplace, a work environmenL lree lrom sexual harassmenL, inLimidaLion and exploiLaLion.
j) D e c la ra tio n b y I n d e p e n d e n t D ire c to rs u n d e r s u b -s e c tio n (6 ) o f s e c tio n 1 4 9 & C la u s e 4 9 o f th e L is tin g A g re e m e n t
During FYI5, Lhe Company received declaraLion in Lerms ol Lhe provisions ol SecLion I49(6) & I49(7) ol Lhe
Companies AcL, 20I3 and Clause 49(I)(A)(iii) and 49(I)(C) ol Lhe LisLing AgreemenL ol SLock Exchanges lrom
Lhe lollowing independenL DirecLors viz. Mr A K Purwar, Mr Akshay Chudasama, Mr K dacob Thomas, Mr Nimesh
N Kampani, Ms Pallavi Shroll, Mr PoberL SLeinmeLz, Dr S Narayan and Mr vikram S MehLa.
k ) We b lin k fo r va rio u s d o c u m e n ts
The lollowing documenLsfinlormaLion are linked wiLh Lhe websiLe ol Lhe Company, i..e, www.apolloLyres.com .-
P a rtic u la rs We b lin k
FamiliarizaLion programmes lor IndependenL DirecLorshttp://www.apollotyres.com/uploads/familiarisation-
programme-lor-independenL-direcLors_I.pdl
Policy lor deLermining 'maLerial' subsidiarieshttp://www.apollotyres.com/uploads/policy-for-deter-
mining-material-subsidiaries.pdf
Policyon dealingwith related partytransactionshttp://www.apollotyres.com/uploads/policy-on-relat-
ed-party-transaction.pdf
CSR policy hLLp.ffwww.apolloLyres.comfuploadsfcsrº20poli-
cyº20-º20aLl.pdl
Codeof conduct for Directors and Senior Managementhttp://www.apollotyres.com/uploads/code-of-conduct-
for-directors-and-senior-management.pdf
WhisLle Blower Policy f vigil Mechanismhttp://www.apollotyres.com/uploads/whistle-blower-
policy.pdf
DecIaration Afñrming CompIiance of provisions of the Code of Conduct
To Lhe besL ol my knowledge and beliel and on Lhe basis ol declaraLions given Lo me, I hereby allrm LhaL all Lhe
Board members and the Senior Management Personnel have fully complied with the provisions of the Code of
ConducL lor DirecLors and Senior ManagemenL Personnel during Lhe lnancial year ended March 3I, 20I5.
DecIaration Afñrming CompIiance of WhistIe bIower poIicy
To Lhe besL ol my knowledge and beliel , I hereby allrm LhaL no personnel ol Lhe Company has been denied
access Lo Lhe AudiL commiLLee during FYI5.
For and on behalf of theBoard of Directors
Place. 0urgaon (0nkar S Kanwar)
DaLe . May I2, 20I5 Chairman & Managing DirecLor
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 1 3 1 1 2 | A P O L L O T YR E S L T D
C E O A N D C F O C E R T I F I C A T E
(U N D E R S U B C L A U S E I X O F C L A U S E 4 9 O F T H E L I S T I N G A G R E E M E N T )
To,
The Board ol DirecLors,
Apollo Tyres LLd.
We hereby cerLily LhaL .-
a) We have reviewed Lhe lnancial sLaLemenLs including Lhe cash low sLaLemenL ol Lhe Company lor Lhe year ended as
on March 3I, 20I5 and LhaL Lo Lhe besL ol our knowledge and beliel .
i these statements do not contain any materially untrue statement or omit any material fact or contain
sLaLemenLs LhaL mighL be misleading,
ii Lhese sLaLemenLs including cash low sLaLemenL presenL a Lrue and lair view ol Lhe company's allairs and are in
compliance wiLh exisLing accounLing sLandards, applicable laws and regulaLions.
b) To Lhe besL ol our knowledge and beliel, Lhere are no LransacLions enLered inLo by Lhe company during Lhe year
which are lraudulenL, illegal or violaLive ol Lhe company's code ol conducL.
c) Based on our observance and on Lhe basis ol submissions received Lhrough sub-cerLilcaLion process, we cerLily LhaL
inLernal conLrols and lnancial reporLing are esLablished, mainLained and are ellecLive considering Lhe naLure and
size ol Lhe business requiremenL. FurLher, no delciencies have been observed in design or operaLion ol such inLernal
controls for theperiod covered bythis report.
d) During Lhe period under review, no signilcanL changes were observed in Lhe inLernal conLrols over lnancial reporLing
and accounting policies of the Company. Furthermore, no instance of fraud found by management or employees
having a signilcanL role in Lhe company's inLernal conLrol sysLem over lnancial reporLing.
Sd/- Sd/-
DaLe . May I2, 20I5 0nkar S Kanwar 0aurav Kumar
Place . 0urgaon (Chairman & Managing DirecLor) (Chiel Financial 0llcer)
C O M P L I A N C E :
The cerLilcaLe daLed May I2, 20I5 obLained lrom sLaLuLory audiLors, Mfs. DeloiLLe Haskins & Sells, Chennai lorms parL ol
this annual report and thesameis given herein:
I ndependent Auditors' Certiñcate on Corporate Sovernance
I. We, DeloiLLe Haskins & Sells, CharLered AccounLanLs (Firm's PegisLraLion No.. 008072S), as SLaLuLory AudiLors ol
Apollo Tyres LLd., ("Lhe Company"), having iLs PegisLered 0llce aL 6Lh Floor, Cherupushpam Building, Shanmugham
Poad, Kochi, Kerala 682 03I, have examined Lhe compliance ol condiLions ol corporaLe governance by Lhe Company,
lor Lhe year ended on March 3I, 20I5 as sLipulaLed in Clause 49 ol Lhe LisLing AgreemenL, as amended lrom Lime Lo
Lime, ol Lhe Company wiLh Lhe sLock exchanges.
2. We have been requesLed by Lhe ManagemenL ol Lhe Company Lo provide a cerLilcaLe on compliance ol corporaLe
governance under Clause 49 ol Lhe LisLing AgreemenL, as amended lrom Lime Lo Lime.
3. The ManagemenL is reponsible lor Lhe compliance ol condiLions ol corporaLe governace. 0ur examinaLion was
limited to a review of procedures and implementation thereof, adopted bytheCompanyfor ensuringthecompliance
ol Lhe condiLions ol corporaLe governance as sLipulaLed in Lhe said clause. IL is neiLher an audiL nor an expression ol
opinion on Lhe lnancial sLaLemenLs ol Lhe Company.
4. In our opinion and Lo Lhe besL ol our inlormaLion and according Lo Lhe explanaLions given Lo us by Lhe direcLors
and the management, we certify that the Company has complied with the conditions of corporate governance as
sLipulaLed in Clause 49 ol Lhe above menLioned LisLing AgreemenL, as amended lrom Lime Lo Lime.
5. We lurLher sLaLe LhaL such compliance is neiLher an assurance as Lo Lhe luLure viabiliLy ol Lhe Company nor Lhe
ellciency ol ellecLiveness wiLh which Lhe managemenL has conducLed Lhe allairs ol Lhe Comapny.
For D e lo itte H a s k in s & S e lls
Chartered Accountants
(Firms' PegisLraLion No.008072S)
sd/-
M.K. Ananthanarayanan
Partner
(Membership No.I952I)
Place: Chennai
DaLe . May I2, 20I5.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 1 5 1 1 4 | A P O L L O T YR E S L T D
S T A N D A L O N E A C C O U N T S
I N D E P E N D E N T A U D I T O R ’S R E P O R T T O T H E M E M B E R S O F A P O L L O T YR E S L T D .
R e p o rt o n th e S ta n d a lo n e F in a n c ia l S ta te m e n ts
I. We have audiLed Lhe accompanying sLandalone lnancial sLaLemenLs ol AP0LL0 TYPES LTD. (¨Lhe Company"),
which comprise Lhe Balance SheeL as aL March 3I, 20I5, Lhe SLaLemenL ol ProlL and Loss, Lhe Cash Flow SLaLemenL
lor Lhe year Lhen ended, and a summary ol Lhe signilcanL accounLing policies and oLher explanaLory inlormaLion.
M a n a g e m e n t’s R e s p o n s ib ility fo r th e S ta n d a lo n e F in a n c ia l S ta te m e n ts
2. The Company's Board ol DirecLors is responsible lor Lhe maLLers sLaLed in SecLion I34(5) ol Lhe Companies AcL, 20I3
(¨Lhe AcL") wiLh respecL Lo Lhe preparaLion ol Lhese sLandalone lnancial sLaLemenLs LhaL give a Lrue and lair view
ol Lhe lnancial posiLion, lnancial perlormance and cash lows ol Lhe Company in accordance wiLh Lhe accounLing
principles generally accepLed in India, including Lhe AccounLing SLandards speciled under SecLion I33 ol Lhe AcL,
read wiLh Pule 7 ol Lhe Companies (AccounLs) Pules, 20I4. This responsibiliLy also includes mainLenance ol adequaLe
accountingrecords in accordancewith theprovisions of theAct for safeguardingtheassets of theCompanyand for
prevenLing and deLecLing lrauds and oLher irregulariLies, selecLion and applicaLion ol appropriaLe accounLing policies,
making |udgmenLs and esLimaLes LhaL are reasonable and prudenL, and design, implemenLaLion and mainLenance ol
adequaLe inLernal lnancial conLrols, LhaL were operaLing ellecLively lor ensuring Lhe accuracy and compleLeness ol
Lhe accounLing records, relevanL Lo Lhe preparaLion and presenLaLion ol Lhe lnancial sLaLemenLs LhaL give a Lrue and
fair view and arefreefrommaterial misstatement, whether dueto fraud or error.
A u d ito r’s R e s p o n s ib ility
3. 0ur responsibiliLy is Lo express an opinion on Lhese sLandalone lnancial sLaLemenLs based on our audiL. We have
Laken inLo accounL Lhe provisions ol Lhe AcL, Lhe accounLing and audiLing sLandards and maLLers which are required
to beincluded in theaudit report under theprovisions of theAct and theRules madethereunder.
We conducLed our audiL in accordance wiLh Lhe SLandards on AudiLing speciled under SecLion I43(I0) ol Lhe
AcL. Those SLandards require LhaL we comply wiLh eLhical requiremenLs and plan and perlorm Lhe audiL Lo obLain
reasonable assurance abouL wheLher Lhe lnancial sLaLemenLs are lree lrom maLerial missLaLemenL.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the
lnancial sLaLemenLs. The procedures selecLed depend on Lhe audiLor's |udgmenL, including Lhe assessmenL ol Lhe
risks ol maLerial missLaLemenL ol Lhe lnancial sLaLemenLs, wheLher due Lo lraud or error. In making Lhose risk
assessmenLs, Lhe audiLor considers inLernal lnancial conLrol relevanL Lo Lhe Company's preparaLion ol Lhe lnancial
statements that givea trueand fair view in order to design audit procedures that areappropriatein thecircumstances,
buL noL lor Lhe purpose ol expressing an opinion on wheLher Lhe Company has in place an adequaLe inLernal lnancial
conLrols sysLem over lnancial reporLing and Lhe operaLing ellecLiveness ol such conLrols. An audiL also includes
evaluatingtheappropriateness of theaccountingpolicies used and thereasonableness of theaccountingestimates
made by Lhe Company's DirecLors, as well as evaluaLing Lhe overall presenLaLion ol Lhe lnancial sLaLemenLs.
We believe LhaL Lhe audiL evidence we have obLained is sullcienL and appropriaLe Lo provide a basis lor our audiL
opinion on Lhe sLandalone lnancial sLaLemenLs.
O p in io n
4. In our opinion and Lo Lhe besL ol our inlormaLion and according Lo Lhe explanaLions given Lo us, Lhe aloresaid
sLandalone lnancial sLaLemenLs give Lhe inlormaLion required by Lhe AcL in Lhe manner so required and give a Lrue
and fair view in conformitywith theaccountingprinciples generallyaccepted in I ndia, of thestateof affairs of the
Company as aL March 3I, 20I5, and iLs prolL and iLs cash lows lor Lhe year ended on LhaL daLe.
R e p o rt o n O th e r L e g a l a n d R e g u la to ry R e q u ire m e n ts
5. As required by Lhe Companies (AudiLor's PeporL) 0rder, 20I5 (¨Lhe 0rder") issued by Lhe CenLral 0overnmenL in
Lerms ol SecLion I43 ol Lhe AcL, we give in Lhe Annexure a sLaLemenL on Lhe maLLers speciled in paragraphs 3 and
4 ol Lhe 0rder.
6. As required by SecLion I43 (3) ol Lhe AcL, we reporL LhaL.
a) We have soughL and obLained all Lhe inlormaLion and explanaLions which Lo Lhe besL ol our knowledge and beliel
werenecessaryfor thepurposes of our audit.
b) In our opinion, proper books ol accounL as required by law have been kepL by Lhe Company so lar as iL appears
lrom our examinaLion ol Lhose books.
c) The Balance SheeL, Lhe SLaLemenL ol ProlL and Loss, and Lhe Cash Flow SLaLemenL dealL wiLh by Lhis PeporL
arein agreement with thebooks of account.
d) In our opinion, Lhe aloresaid sLandalone lnancial sLaLemenLs comply wiLh Lhe AccounLing SLandards speciled
under SecLion I33 ol Lhe AcL, read wiLh Pule 7 ol Lhe Companies (AccounLs) Pules, 20I4.
e) 0n Lhe basis ol Lhe wriLLen represenLaLions received lrom Lhe direcLors as on March 3I, 20I5 Laken on record by
Lhe Board ol DirecLors, none ol Lhe direcLors is disqualiled as on March 3I, 20I5 lrom being appoinLed as a direcLor
in Lerms ol SecLion I64 (2) ol Lhe AcL.
l) WiLh respecL Lo Lhe oLher maLLers Lo be included in Lhe AudiLor's PeporL in accordance wiLh Pule II ol Lhe
Companies (AudiL and AudiLors) Pules, 20I4, in our opinion and Lo Lhe besL ol our inlormaLion and according Lo Lhe
explanaLions given Lo us.
i. The Company has disclosed Lhe impacL ol pending liLigaLions on iLs lnancial posiLion in iLs lnancial sLaLemenLs,
ii. The Company has made provision, as required under Lhe applicable law or accounLing sLandards, lor maLerial
foreseeablelosses, if any, on long-termcontracts includingderivativecontracts.
iii. There has been no delay in Lranslerring amounLs, required Lo be Lranslerred, Lo Lhe InvesLor EducaLion and
Protection Fund by the Company other than 3.60 Million (Previous Year 2.92 Million) which has noL been
Lranslerred as per Lhe ordersfinsLrucLions ol Lhe Special CourL (Trial ol 0llences relaLing Lo TransacLions in
SecuriLies), Mumbai.
For D e lo itte H a s k in s & S e lls
Chartered Accountants
(Firms' PegisLraLion No.008072S)
sd/-
M.K. Ananthanarayanan
Partner
(Membership No.I952I)
Placeof Signature: Gurgaon
DaLe. May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 1 7 1 1 6 | A P O L L O T YR E S L T D
A N N E XU R E T O T H E I N D E P E N D E N T A U D I T O R S ’ R E P O R T
(Pelerred Lo in paragraph 6 ol our reporL ol even daLe)
(i) In respecL ol iLs lxed asseLs.
(a) The Company has mainLained proper records showing lull parLiculars, including quanLiLaLive deLails and
siLuaLion ol lxed asseLs.
(b) Some ol Lhe lxed asseLs were physically veriled during Lhe year by Lhe ManagemenL in accordance wiLh a
programme ol verilcaLion, which in our opinion provides lor physical verilcaLion ol all Lhe lxed asseLs aL
reasonable inLervals. According Lo Lhe inlormaLion and explanaLions given Lo us no maLerial discrepancies were
noLiced on such verilcaLion.
(ii) In respecL ol iLs invenLories.
(a) As explained Lo us, Lhe invenLories were physically veriled during Lhe year by Lhe ManagemenL aL reasonable
intervals.
(b) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe procedures ol physical
verilcaLion ol invenLories lollowed by Lhe ManagemenL were reasonable and adequaLe in relaLion Lo Lhe size ol
theCompanyand thenatureof its business.
(c) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Company has mainLained
proper records ol iLs invenLories and no maLerial discrepancies were noLiced on physical verilcaLion.
(iii) The Company has noL granLed any loans, secured or unsecured, Lo companies, lrms or oLher parLies covered in Lhe
PegisLer mainLained under SecLion I89 ol Lhe Companies AcL, 20I3.
(iv) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, having regard Lo Lhe explanaLions LhaL
some of the items purchased are of special nature and suitable alternative sources are not readily available for
obLaining comparable quoLaLions, Lhere is an adequaLe inLernal conLrol sysLem commensuraLe wiLh Lhe size ol Lhe
Company and Lhe naLure ol iLs business wiLh regard Lo purchases ol invenLory and lxed asseLs and Lhe sale ol goods
and services. During Lhe course ol our audiL, we have noL observed any ma|or weakness in such inLernal conLrol
system.
(v) According Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Company has noL accepLed any deposiL lrom Lhe
public duringtheyear. I n respect of unclaimed deposits, theCompanyhas complied with theprovisions of Sections
73, SecLion 76 or any oLher relevanL provisions ol Lhe AcL.
(vi) We have broadly reviewed Lhe cosL records mainLained by Lhe Company pursuanL Lo Lhe Companies (CosL Pecords
and AudiL) Pules, 20I4, as amended and prescribed by Lhe CenLral 0overnmenL under sub-secLion (I) ol SecLion
I48 ol Lhe AcL, and are ol Lhe opinion LhaL, prima lacie, Lhe prescribed cosL records have been made and mainLained.
We have, however, noL made a deLailed examinaLion ol Lhe cosL records wiLh a view Lo deLermine wheLher Lhey are
accurateor complete.
(vii) According Lo Lhe inlormaLion and explanaLions given Lo us in respecL ol sLaLuLory dues.
(a) The Company has been regular in deposiLing undispuLed sLaLuLory dues, including ProvidenL Fund, Employees'
SLaLe Insurance, Income-Lax, Sales Tax, WealLh Tax, Service Tax, CusLoms DuLy, Excise DuLy, value Added Tax,
Cess and other material statutorydues applicableto it with theappropriateauthorities.
(b) There were no undispuLed amounLs payable in respecL ol ProvidenL Fund, Employees' SLaLe Insurance, Income-
Lax, Sales Tax, WealLh Tax, Service Tax, CusLoms DuLy, Excise DuLy, value Added Tax, Cess and oLher maLerial
sLaLuLory dues in arrears as aL March 3I, 20I5 lor a period ol more Lhan six monLhs lrom Lhe daLe Lhey became
payable.
(c) DeLails ol dues ol Income-Lax, Sales Tax and Excise DuLy which have noL been deposiLed as on March 3I, 20I5
on account of disputes aregiven below:
N a m e o f th e S ta tu te N a tu re o f D u e s F o ru m wh e re
D is p u te is p e n d in g
P e rio d to wh ic h
th e a m o u n t re la te s
(F in a n c ia l Ye a r)
A m o u n t in vo lve d
( M illio n )
Sales Tax AcL
applicableto various
States
Sales Lax various AppellaLe
Authorities /
RevenueBoard /
High CourL.
Financial Years
I990-9I Lo 2002-03,
2004-05 Lo 2006-07
and 20I0-II.
II5.77*
CenLral Excise AcL,
I944
Excise DuLy and
AddiLional Excise
Duty
various AppellaLe
AuLhoriLies f High
Court.
I994-95 Lo 2009-I0 925.75**
Income Tax AcL,
I96I
Income Lax various AppellaLe
AuLhoriLies f High
Court.
I987-88 Lo 20I2-I3 75I.53***

* NeL ol DeposiLs ol 48.05 Million
** NeL ol DeposiLs ol I.65 Million
*** NeL ol DeposiLs ol I4I.43 Million
(d) The Company has been regular in Lranslerring amounLs Lo Lhe InvesLor EducaLion and ProLecLion Fund in
accordance wiLh Lhe relevanL provisions ol Lhe Companies AcL, I956 (I ol I956) and Pules made Lhereunder
within timeother than 3.60 Million (Previous Year 2.92 Million) which has noL been Lranslerred as per Lhe
ordersfinsLrucLions ol Lhe Special CourL (Trial ol 0llences relaLing Lo TransacLions in SecuriLies), Mumbai.
(viii) The Company does noL have accumulaLed losses aL Lhe end ol Lhe lnancial year and Lhe Company has noL incurred
cash losses during Lhe lnancial year covered by our audiL and in Lhe immediaLely preceding lnancial year.
(ix) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Company has noL delaulLed in Lhe
repaymenL ol dues Lo lnancial insLiLuLions, banks and debenLure holders.
(x) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Lerms and condiLions ol Lhe
guaranLees given by Lhe Company lor loans Laken by oLhers lrom banks and lnancial insLiLuLions are noL, prima lacie,
pre|udicial Lo Lhe inLeresLs ol Lhe Company including Lhe bank deposiLs pledged by Lhe Company lor loans Laken by
oLhers as relerred Lo in NoLe BI0(c) Lo Lhe lnancial sLaLemenLs.
(xi) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Lerm loans have been applied by
theCompanyduringtheyear for thepurposes for which theywereobtained.
(xii) To Lhe besL ol our knowledge and according Lo Lhe inlormaLion and explanaLions given Lo us, no lraud by Lhe Company
and no material fraud on theCompanyhas been noticed or reported duringtheyear.
For D e lo itte H a s k in s & S e lls
Chartered Accountants
(Firms' PegisLraLion No.008072S)
sd/-
M.K. Ananthanarayanan
Partner
(Membership No.I952I)
Placeof Signature: Gurgaon
DaLe. May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 1 9 1 1 8 | A P O L L O T YR E S L T D
B A L A N C E S H E E T
A S A T M A R C H 3 1 , 2 0 1 5
N o te s A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
A . E Q U I T Y & L I A B I L I T I E S
1 . S h a re h o ld e rs ’ F u n d s :
(a) Share CapiLal BI 5 0 9 . 0 9 504.09
(b) Peserves and Surplus B2 3 2 , 1 9 7 . 7 6 26,786.32
(c) Money Peceived againsL Share WarranLs C7 - I07.75
3 2 , 7 0 6 . 8 5 27,398.I6
2 . N o n -C u rre n t L ia b ilitie s :
(a) Long-Lerm Borrowings B3 3 , 3 3 9 . 3 9 7,I37.33
(b) Delerred Tax LiabiliLies (NeL) CI8(a) 4 , 1 2 2 . 4 2 3,909.45
(c) 0Lher Long-Lerm LiabiliLies B3 6 9 . 1 4 62.I2
(d) Long-Lerm Provisions B3 7 8 . 4 3 67.6I
7 , 6 0 9 . 3 8 II,I76.5I
3 . C u rre n t L ia b ilitie s : B4
(a) ShorL-Lerm Borrowings 4 , 6 2 6 . 6 0 I,806.73
(b) Trade Payables 6 , 6 2 1 . 8 1 8,983.4I
(c) 0Lher CurrenL LiabiliLies 5 , 6 1 6 . 9 2 8,892.00
(d) ShorL-Lerm Provisions 4 , 0 3 2 . 5 0 2,863.20
2 0 , 8 9 7 . 8 3 22,545.34

T O T A L 6 1 , 2 1 4 . 0 6 6I,I20.0I
B . A S S E T S
1 . N o n -C u rre n t A s s e ts :
(a) Fixed AsseLs B5
(i) Tangible AsseLs 3 0 , 9 6 5 . 2 7 32,42I.6I
(ii) InLangible AsseLs 1 0 5 . 1 5 II4.2I
(iii) CapiLal Work-in-Progress 1 , 2 9 6 . 4 8 349.7I
3 2 , 3 6 6 . 9 0 32,885.53
(b) Non-CurrenL InvesLmenLs B6 6 , 5 1 9 . 1 9 6,5I4.64
(c) Long-Lerm Loans & Advances B7 1 , 7 8 0 . 2 8 I,230.38
(d) 0Lher Non-CurrenL AsseLs B8 3 6 0 . 1 8 2I4.I4
4 1 , 0 2 6 . 5 5 40,844.69
2 . C u rre n t A s s e ts :
(a) CurrenL InvesLmenLs B9 1 , 0 0 0 . 0 0 -
(b) InvenLories BI0 1 1 , 8 5 1 . 8 6 I2,836.92
(c) Trade Peceivables BI0 3 , 2 0 0 . 1 0 2,405.45
(d) Cash & Cash EquivalenLs BI0 2 , 0 7 8 . 4 0 2,2II.I0
(e) ShorL Term Loans & Advances BII 1 , 6 8 1 . 1 9 2,445.80
(l) 0Lher CurrenL AsseLs BI2 3 7 5 . 9 6 376.05
2 0 , 1 8 7 . 5 1 20,275.32
T O T A L 6 1 , 2 1 4 . 0 6 6I,I20.0I
Seeaccompanying noLes lorming parL ol Lhe lnancial sLaLemenLs
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
S T A T E M E N T O F P R O F I T & L O S S
F O R T H E YE A R E N D E D M A R C H 3 1 , 2 0 1 5
N o te s Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
1 . R e ve n u e fro m O p e ra tio n s :
0ross Sales CI3(A) 9 8 , 7 7 2 . 7 2 95,892.83
Less . Excise DuLy 9 , 9 9 0 . 0 4 9,792.03
Net Sales 8 8 , 7 8 2 . 6 8 86,I00.80
0Lher 0peraLing Income BI3 5 9 5 . 4 9 I,0I6.52
8 9 , 3 7 8 . 1 7 87,II7.32
2 . O th e r I n c o m e BI4 3 7 5 . 4 6 792.26

3 . T o ta l R e ve n u e (1 +2 ) 8 9 , 7 5 3 . 6 3 87,909.58
4 . E x p e n s e s :
(a) CosL ol MaLerials Consumed BI5 5 4 , 0 0 7 . 1 4 57,243.06
(b) Purchase ol SLock-in-Trade BI5 2 , 4 9 2 . 1 9 2,502.76
(c) Changes in InvenLories ol Finished 0oods,
Work in Progress & SLock-in-Trade BI6 1 9 7 . 2 9 (I,I58.67)
(d) Employee BenelLs Expenses BI5 5 , 4 5 1 . 3 2 4,532.54
(e) Finance CosLs BI7 1 , 7 2 0 . 8 8 2,446.I0
(l) DepreciaLion & AmorLizaLion expenses B5 2 , 4 6 7 . 8 0 2,480.46
(g) 0Lher Expenses BI5 1 4 , 0 7 5 . 5 9 I3,008.4I
T o ta l E x p e n s e s 8 0 , 4 1 2 . 2 1 8I,054.66
5. Proñt before ExceptionaI Items and Tax (3 - 4) 9 , 3 4 1 . 4 2 6,854.92
6 . E x c e p tio n a l I te m s C6 - 7I0.47
7. Proñt before Tax (5 - 6) 9 , 3 4 1 . 4 2 6,I44.45

8 . T a x E x p e n s e
(a) CurrenL Tax Expense 2 , 5 4 4 . 7 0 I,327.2I
(b) Delerred Tax Expense 3 4 5 . 9 1 39I.05
ToLal Tax Expense 2 , 8 9 0 . 6 1 I,7I8.26

9. Proñt for the Year (7 - 8) 6 , 4 5 0 . 8 1 4,426.I9
E a rn in g s p e r S h a re o f 1 e a c h : C28
(a) Basic 1 2 . 7 0 8.78
(b) DiluLed 1 2 . 6 9 8.77

See accompanying noLes lorming parL ol Lhe lnancial sLaLemenLs
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 2 1 1 2 0 | A P O L L O T YR E S L T D
C A S H - F L O W S T A T E M E N T
F O R T H E YE A R E N D E D M A R C H 3 1 , 2 0 1 5
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
A C A S H F L O W F R O M O P E R A T I N G A C T I VI T I E S
(i) Net Proñt Before Tax 9 , 3 4 1 . 4 2 6,I44.45
A d d : A d ju s tm e n ts fo r:
DepreciaLion and AmorLizaLion Expenses 2,467.80 2,480.46
Loss on Sale ol Tangible Fixed AsseLs (NeL) 26.24 23.93
Dividend lromTrade & Non Trade InvesLmenLs (26.30) (92.57)
Provision lor DoubLlul Trade Peceivables f Advances wriLLen back - (I7.I3)
Provision lor ConsLrucLive LiabiliLy 7.50 -
Provision lor CompensaLed Absences 37.83 7.80
LiabiliLies f provisions no longer required wriLLen back (20.00) (26.37)
Finance CosL (NeL ol InLeresL CapiLalized) I,720.88 2,446.I0
InLeresL Income (57.I9) (I82.60)
Provision lor esLimaLed loss on derivaLives 82.64 67.I4
Unrealized (0ain) f Loss on Foreign Exchange FlucLuaLions I8.05 (73.I7)
Provision lor conLingencies - 425.00
DoubLlul Peceivables f Advances WriLLen 0ll - 4 , 2 5 7 . 4 5 I7.I3 5,075.72
(ii) Dperating Proñt Before Working CapitaI Changes 13,598.87 II,220.I7
C h a n g e s in Wo rk in g C a p ita l
A d ju s tm e n ts fo r (in c re a s e ) / d e c re a s e in o p e ra tin g a s s e ts :
InvenLories 985.06 (I,628.66)
Trade Peceivables (763.20) 584.I6
ShorL-Lermloans and advances 3I4.48 (426.0I)
Long-Lermloans and advances (260.6I) (9.8I)
0Lher Non-CurrenL AsseLs (I46.04) -
Other Current Assets - 1 2 9 . 6 9 (589.I4) (2,069.46)
A d ju s tm e n ts fo r in c re a s e / (d e c re a s e ) in o p e ra tin g lia b ilitie s :
Trade Payables (2,39I.68) 3,06I.23
0Lher CurrenL LiabiliLies (4.67) 28.9I
0Lher Long-LermLiabiliLies & provisions I7.84 5.63
Short-termProvisions I6I.68 (2 , 2 1 6 . 8 3 ) 274.50 3,370.27
(iii) C a s h G e n e ra te d fro m O p e ra tio n s 1 1 , 5 1 1 . 7 3 I2,520.98
Less. DirecL Taxes Paid (NeL ol Pelund) 1 , 9 9 7 . 9 6 I,254.36
NetCashFromOperatingActivities 9 , 5 1 3 . 7 7 II,266.62

B C A S H F L O W F R O M I N VE S T I N G A C T I VI T I E S
Purchase ol Fixed AsseLs (including inLeresL capiLalized) (2,723.00) (2,0I2.I6)
Proceeds lromsale ol Fixed AsseLs 64.I8 92.94
InvesLmenLs in MuLual Funds (I,000.00) -
Long TermInvesLmenL made in Subsidiary (4.05) (383.98)
Long TermInvesLmenL made in 0Lher Companies - (3.7I)
Long TermFixed TermDeposiLs WiLh Banks Laken f maLured I5.86 I4.3I
Dividends received lromTrade & Non Trade InvesLmenLs 26.30 92.57
I nterest received 57.28 I82.25
N e t C a s h U s e d in I n ve s tin g A c tivitie s (3 , 5 6 3 . 4 3 ) (2,0I7.78)

C C A S H F L O W F R O M F I N A N C I N G A C T I VI T I E S
Proceeds lromissue ol Share CapiLal including Share Premium 323.25 -
CapiLal Subsidy received 22.50 -
ETP Subsidy received 3.00 -
PepaymenL ol Long TermBorrowings (6,987.27) (2,247.22)
Bank 0verdralL f ShorL TermBorrowings (neL ol repaymenLs) 2,820.0I (3,535.52)
PaymenL ol Dividends (including Dividend Tax) (446.65) (294.84)
Finance Charges paid (NeL ol InLeresL capiLalized) (I,805.42) (2,490.0I)
N e t C a s h U s e d in F in a n c in g A c tivitie s (6 , 0 7 0 . 5 8 ) (8,567.59)
NeL Increase in Cash & Cash EquivalenLs (1 2 0 . 2 4 ) 68I.25

Cash & Cash EquivalenLs as aL Beginning ol Lhe year 2 , 2 1 1 . 1 0 I,54I.92
Less. Bank DeposiLs wiLh 0riginal MaLuriLy over Three MonLhs 5 6 . 8 7 7I.I8
Less: UnpaidDividends BankAccounts 3 2 . 4 5 30.24
2 , 1 2 1 . 7 8 I,440.50
0ain on PeinsLaLemenL ol Foreign Currency Cash & Cash EquivalenLs (0 . 1 2 ) (0.09)
A d ju s te d C a s h & C a s h E q u iva le n ts a s a t B e g in n in g o f th e ye a r 2 , 1 2 1 . 6 6 I,440.4I

Cash & Cash EquivalenLs as aL Lhe end ol Lhe year 2 , 0 7 8 . 4 0 2,2II.I0
Less. Bank DeposiLs wiLh 0riginal MaLuriLy over Three MonLhs 4 1 . 0 1 56.87
Less: UnpaidDividends BankAccounts 3 5 . 9 1 32.45
2 , 0 0 1 . 4 8 2,I2I.78
0ain on PeinsLaLemenL ol Foreign Currency Cash & Cash EquivalenLs (0 . 0 6 ) (0.I2)
A d ju s te d C a s h & C a s h E q u iva le n ts a s a t th e e n d o f th e ye a r 2 , 0 0 1 . 4 2 2,I2I.66
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
A . N O T E S F O R M I N G P A R T O F T H E F I N A N C I A L S T A T E M E N T S
1 . C O R P O R A T E I N F O R M A T I O N
The company's principal business acLiviLy is manulacLuring and sale ol auLomoLive Lyres. The company sLarLed
iLs operaLions in I972 wiLh iLs lrsL manulacLuring planL aL Perambra in Kerala.
The company's largesL operaLions are in India and comprise ol lour Lyre manulacLuring planLs - locaLed Lwo in
Cochin and one each aL vadodara & Chennai respecLively and various sales & markeLing ollces spread across
Lhe counLry. The company's European subsidiary Apollo vredesLein Bv (AvBv) has a manulacLuring planL in Lhe
NeLherlands and sales & markeLing subsidiaries all over Europe. The company also has sales and markeLing
subsidiaries in Middle EasL and ASEAN region.
2 . S I G N I F I C A N T A C C O U N T I N G P O L I C I E S
2 . 1 B A S I S O F A C C O U N T I N G A N D P R E P A R A T I O N O F F I N A N C I A L S T A T E M E N T S
The lnancial sLaLemenLs ol Lhe Company have been prepared in accordance wiLh Lhe 0enerally AccepLed
AccounLing Principles in India (Indian 0AAP) Lo comply wiLh Lhe AccounLing SLandards speciled under SecLion
I33 ol Lhe Companies AcL, 20I3, read wiLh Pule 7 ol Lhe Companies (AccounLs) Pules, 20I4 and Lhe relevanL
provisions ol Lhe Companies AcL, 20I3 ("Lhe 20I3 AcL") f Companies AcL, I956 ("Lhe I956 AcL"), as applicable.
The lnancial sLaLemenLs have been prepared on accrual basis under Lhe hisLorical cosL convenLion wiLh Lhe
excepLion ol cerLain lxed asseLs, LhaL are carried aL revalued amounLs. The accounLing policies adopLed in Lhe
preparaLion ol Lhe lnancial sLaLemenLs are consisLenL wiLh Lhose lollowed in Lhe previous year excepL lor change
in Lhe accounLing policy lor depreciaLion as more lully described in NoLe C I0.
2 . 2 U S E O F E S T I M A T E S
The preparaLion ol lnancial sLaLemenLs requires Lhe managemenL Lo make esLimaLes and assumpLions
considered in thereported amounts of assets and liabilities, includingthedisclosureof contingent liabilities as
ol Lhe daLe ol Lhe lnancial sLaLemenLs and Lhe reporLed income and expenses during Lhe reporLing period like
provision lor employee benelLs, provision lor doubLlul debLsfadvances, allowance lor slow and non-moving
invenLories, uselul lives ol lxed asseLs, provision lor sales relaLed obligaLions and provision lor LaxaLion eLc.
The ManagemenL believes LhaL Lhe esLimaLes used in preparaLion ol Lhe lnancial sLaLemenLs are prudenL and
reasonable. Future results could differ due to these estimates and the differences between the actual results
and theestimates arerecognised in theperiods in which theresults areknown / materialise.
2 . 3 I N VE N T O R I E S
InvenLories are valued aL Lhe lower ol cosL and esLimaLed neL realizable value (neL ol allowances) alLer providing
lor obsolescence and oLher losses, where considered necessary. The cosL comprises ol cosL ol purchase, cosL ol
conversion and oLher cosLs including appropriaLe producLion overheads in Lhe case ol lnished goods and work in
progress, incurred in bringingsuch inventories to their present location and condition.
In case ol raw maLerials, sLores & spares and Lraded goods, cosL (neL ol CENvATfvAT crediLs wherever
applicable) is deLermined on a moving weighLed average basis, and, in case ol work in progress and lnished
goods, cost is determined on a First I n First Out basis.
2 . 4 C A S H A N D C A S H E Q U I VA L E N T S
Cash comprises cash on hand and demand deposiLs wiLh banks. Cash equivalenLs are shorL-Lerm balances (wiLh
an original maLuriLy ol Lhree monLhs or less lrom Lhe daLe ol acquisiLion), highly liquid invesLmenLs LhaL are
readily converLible inLo known amounLs ol cash and which are sub|ecL Lo insignilcanL risk ol changes in value.
2 . 5 C A S H F L O W S T A T E M E N T
Cash lows are reporLed using Lhe indirecL meLhod, whereby prolL f (loss) belore exLraordinary iLems and Lax is
ad|usLed lor Lhe ellecLs ol LransacLions ol non-cash naLure and any delerrals or accruals ol pasL or luLure cash
receipLs or paymenLs. The cash lows lrom operaLing, invesLing and lnancing acLiviLies ol Lhe Company are
segregated based on theavailableinformation.
2 . 6 D E P R E C I A T I O N A N D A M O R T I S A T I O N
T a n g ib le F ix e d A s s e ts
DepreciaLion on lxed asseLs is provided using sLraighL line meLhod as per Lhe uselul lile prescribed in Schedule
II Lo Lhe Companies AcL, 20I3. CerLain planL and machinery are classiled as conLinuous process planLs based
on technical evaluation bythemanagement and aredepreciated at theapplicablerates.
AddiLional depreciaLion consequenL Lo Lhe enhancemenL in Lhe value ol lxed asseLs on Lhe revaluaLion is ad|usLed
in Lhe lxed asseLs revaluaLion reserve accounL.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 2 3 1 2 2 | A P O L L O T YR E S L T D
Leasehold land f ImprovemenLs Lhereon are amorLized over Lhe primary period ol lease.
In respecL ol lxed asseLs whose uselul lile has been revised, Lhe unamorLized depreciable amounL is charged
over therevised remaininguseful life.
I n ta n g ib le A s s e ts
The inLangible asseLs are amorLized over a period ol lve years based on iLs esLimaLed uselul lile and Lhe
amorLisaLion period are reviewed aL Lhe end ol each lnancial year and Lhe amorLisaLion meLhod is revised Lo
relecL Lhe changed paLLern.
2 . 7 R E VE N U E R E C O G N I T I O N
Pevenue is recognized when Lhe signilcanL risks and rewards ol ownership ol goods have been passed Lo Lhe
buyer which generally coincides wiLh Lhe delivery ol goods Lo cusLomers. 0ross sales are inclusive ol excise duLy
and are neL ol Lrade discounLsfsales reLurnsfvAT.
2 . 8 O T H E R I N C O M E
I nterest income is accounted on accrual basis. Dividend income on investments is accounted for when the
right to receivethepayment is established. Royaltyincomeis accounted when theright to receivethesameis
established.
2 . 9 T A N G I B L E F I XE D A S S E T S
Fixed asseLs are sLaLed aL cosL, as ad|usLed by revaluaLion ol cerLain land, buildings, planL and machineries
based on Lhe Lhen replacemenL cosL as deLermined by approved independenL valuer in I986 and I987, less
depreciation.
All cosLs relaLing Lo Lhe acquisiLion and insLallaLion ol lxed asseLs (neL ol CenvaL fvAT crediLs wherever
applicable) are capiLalized and include lnance cosL on borrowed lunds aLLribuLable Lo acquisiLion ol qualilying
lxed asseLs lor Lhe period up Lo Lhe daLe when Lhe asseL is ready lor iLs inLended use, and ad|usLmenLs arising
lrom loreign exchange dillerences arising on loreign currency borrowings Lo Lhe exLenL Lhey are regarded as
an ad|usLmenL Lo inLeresL cosLs. 0Lher incidenLal expendiLure aLLribuLable Lo bringing Lhe lxed asseLs Lo Lheir
working condiLion lor inLended use are capiLalized. SubsequenL expendiLure relaLing Lo lxed asseLs is capiLalised
only il such expendiLure resulLs in an increase in Lhe luLure benelLs lrom such asseL beyond iLs previously
assessed standard of performance.
Fixed asseLs Laken on lnance lease are capiLalized and depreciaLion is provided on such asseLs, while Lhe inLeresL
is charged Lo Lhe sLaLemenL ol prolL and loss.
Fixed asseLs reLired lrom acLive use and held lor sale are sLaLed aL Lhe lower ol Lheir neL book value and neL
realisablevalueand aredisclosed separatelyin theBalanceSheet.
C a p ita l wo rk -in -p ro g re s s : Pro|ecLs under which asseLs are noL ready lor Lheir inLended use and oLher capiLal
work-in-progress are carried aL cosL, comprising direcL cosL, relaLed incidenLal expenses and aLLribuLable
interest.
2 . 1 0 F O R E I G N C U R R E N C Y T R A N S A C T I O N S A N D T R A N S L A T I O N S
Foreign currency LransacLions are recorded aL raLes ol exchange prevailing on Lhe daLe ol LransacLion. MoneLary
assets and liabilities denominated in foreign currencies as at thebalancesheet datearetranslated at therate
ol exchange prevailing aL Lhe year-end. Exchange dillerences arising on acLual paymenLsfrealizaLions and year-
end resLaLemenLs are dealL wiLh in Lhe sLaLemenL ol prolL and loss.
The Company enLers inLo lorward exchange conLracLs and oLher insLrumenLs LhaL are in subsLance a lorward
exchange conLracL Lo hedge iLs risks associaLed wiLh loreign currency lucLuaLions. The premium or discounL
arising aL Lhe incepLion ol a lorward exchange conLracL (oLher Lhan lor a lrm commiLmenL or a highly probable
lorecasL) or similar insLrumenL, which are noL inLended lor Lrading or speculaLion purposes, is amorLized as
expense or income over Lhe lile ol Lhe conLracL. Any prolL or loss arising on cancellaLion or renewal ol such a
lorward exchange conLracL is recognised as income or as expense in Lhe period in which such cancellaLion or
renewal is made. Exchange dillerence on such conLracLs is recognized in Lhe sLaLemenL ol prolL and loss in Lhe
year in which Lhe exchange raLes change.
Exchange dillerence arising on a moneLary iLem LhaL, in subsLance, lorms parL ol Lhe Company's neL invesLmenL
in a non-integral foreign operation has been accumulated in a foreign currency translation reserve in the
Company's lnancial sLaLemenLs unLil Lhe disposal ol neL invesLmenL, aL which Lime Lhey would be recognized
as income or as expense.
2 . 1 1 G O VE R N M E N T G R A N T S , S U B S I D I E S A N D E XP O R T I N C E N T I VE S
Government grants and subsidies arerecognised when thereis reasonableassurancethat theCompanywill
comply with the conditions attached to themand the grants / subsidy will be received. Government grants
whose primary condiLion is LhaL Lhe Company should purchase, consLrucL or oLherwise acquire capiLal asseLs
are presenLed by deducLing Lhem lrom Lhe carrying value ol Lhe asseLs. The granL is recognised as income over
thelifeof a depreciableasset bywayof a reduced depreciation charge.
ExporL IncenLives in Lhe lorm ol advance licences f crediLs earned under duLy enLiLlemenL pass book scheme
are LreaLed as income in Lhe year ol exporL aL Lhe esLimaLed realizable value f acLual crediL earned on exporLs
madeduringtheyear.
0overnmenL granLs in Lhe naLure ol promoLers' conLribuLion like invesLmenL subsidy, where no repaymenL is
ordinarily expecLed in respecL Lhereol, are LreaLed as capiLal reserve.
Other government grants and subsidies are recognised as income over the periods necessary to match them
with thecosts for which theyareintended to compensate, on a systematic basis.
2 . 1 2 I N VE S T M E N T S
Longterminvestments are stated at cost and provision for diminution is made if the decline in value is other
than temporary in nature. Current investments are stated at lower of cost and fair value determined on the
basis of each categoryof investments.
2 . 1 3 E M P L O YE E B E N E F I T S
Employee benelLs include providenL lund, superannuaLion lund, graLuiLy lund and compensaLed absences.
LiabiliLy lor graLuiLy Lo employees deLermined on Lhe basis ol acLuarial valuaLion, using pro|ecLed uniL meLhod,
as on balance sheeL daLe is lunded wiLh Lhe Lile Insurance CorporaLion ol India and is recognized as an expense
in theyear incurred.
LiabiliLy lor shorL Lerm compensaLed absences is recognized as expense based on Lhe esLimaLed cosL ol eligible
leaveto thecredit of theemployees as at thebalancesheet dateon undiscounted basis. Liabilityfor longterm
compensaLed absences is deLermined on Lhe basis ol acLuarial valuaLion, using pro|ecLed uniL meLhod, as on Lhe
balancesheet date.
ConLribuLions Lo delned conLribuLion schemes such as providenL lund, employees' pension lund, superannuaLion
lund and cosL ol oLher benelLs are recognized as an expense in Lhe year incurred. The shorLlall, il any, beLween
Lhe reLurn lrom Lhe invesLmenLs ol Company's Employees ProvidenL Fund TrusL and Lhe noLiled inLeresL raLe
is recognized as an expense in sLaLemenL ol ProlL and Loss in Lhe year in which Lhe shorLlall is expecLed Lo
arise.
AcLuarial gains and losses arising lrom experience ad|usLmenLs and ellecLs ol changes in acLuarial assumpLions
are immediaLely recognized in Lhe sLaLemenL ol prolL and loss as income or expense.
2 . 1 4 E M P L O YE E S H A R E B A S E D P A YM E N T S
SLock appreciaLion righLs (PhanLom sLock uniLs) granLed Lo employees under Lhe Cash-seLLled Employee Share-
based PaymenL Plan (PhanLom SLock Plan) is recognized based on inLrinsic value meLhod. InLrinsic value ol
Lhe phanLom sLock uniL is deLermined as excess ol closing markeL price on Lhe reporLing daLe over Lhe exercise
price ol Lhe uniL and is charged as employee benelL over Lhe vesLing period in accordance wiLh ¨0uidance NoLe
on AccounLing lor Employee Share-based paymenLs" issued by InsLiLuLe ol CharLered AccounLanLs ol India.
2 . 1 5 B O R R O WI N G C O S T S
Borrowing cosLs include inLeresL, amorLisaLion ol ancillary cosLs incurred and exchange dillerences arising lrom
loreign currency borrowings Lo Lhe exLenL Lhey are regarded as an ad|usLmenL Lo Lhe inLeresL cosL. Borrowing
cosLs are capiLalized as a parL ol Lhe cosL ol qualilying asseL when iL is possible LhaL Lhey will resulL in luLure
economic benelLs and Lhe cosL can be measured reliably. 0Lher borrowing cosLs are recognized as an expense
in theperiod in which theyareincurred.
2 . 1 6 S E G M E N T R E P O R T I N G
The Company idenLiles operaLing and geographic segmenLs based on Lhe dominanL source, naLure ol risks and
reLurns and Lhe inLernal organisaLion and managemenL sLrucLure. The operaLing segmenLs are Lhe segmenLs
lor which separaLe lnancial inlormaLion is available and lor which operaLing prolL f loss amounLs are evaluaLed
regularly by Lhe execuLive ManagemenL in deciding how Lo allocaLe resources and in assessing perlormance.
The accounLing policies adopLed lor segmenL reporLing are in line wiLh Lhe accounLing policies ol Lhe Company.
SegmenL revenue, segmenL expenses, segmenL asseLs and segmenL liabiliLies have been idenLiled Lo segmenLs
on thebasis of their relationship to theoperatingactivities of thesegment.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 2 5 1 2 4 | A P O L L O T YR E S L T D
2 . 1 7 L E A S E S
Leases where Lhe lessor ellecLively reLains subsLanLially all Lhe risks and benelLs ol ownership ol Lhe leased
asseLs are recognized as operaLing leases. 0peraLing Lease paymenLs are recognized as an expense in Lhe
sLaLemenL ol prolL and loss as per Lhe lease Lerms.
Assets leased by the Company in its capacity as lessee where substantially all the risks and rewards of
ownership vesL in Lhe Company are classiled as lnance leases. Such leases are capiLalised aL Lhe incepLion ol
theleaseat thelower of thefair valueand thepresent valueof theminimumleasepayments and a liabilityis
creaLed lor an equivalenL amounL. Each lease renLal paid is allocaLed beLween Lhe liabiliLy and Lhe inLeresL cosL
so as to obtain a constant periodic rateof interest on theoutstandingliabilityfor each year.
2 . 1 8 E A R N I N G S P E R S H A R E
B a s ic e a rn in g s p e r s h a re is compuLed by dividing Lhe prolL f (loss) alLer Lax (including Lhe posL Lax ellecL
ol exLraordinary iLems, il any) by Lhe weighLed average number ol equiLy shares ouLsLanding during Lhe year.
D ilu te d e a rn in g s p e r s h a re is compuLed by dividing Lhe prolL f (loss) alLer Lax (including Lhe posL Lax ellecL
ol exLraordinary iLems, il any) as ad|usLed lor dividend, inLeresL and oLher charges Lo expense or income (neL ol
any aLLribuLable Laxes) relaLing Lo Lhe diluLive poLenLial equiLy shares, by Lhe weighLed average number ol equiLy
shares considered lor deriving basic earnings per share and Lhe weighLed average number ol equiLy shares
which could have been issued on Lhe conversion ol all diluLive poLenLial equiLy shares. PoLenLial equiLy shares
are deemed Lo be diluLive only il Lheir conversion Lo equiLy shares would decrease Lhe neL prolL per share lrom
conLinuing ordinary operaLions. PoLenLial diluLive equiLy shares are deemed Lo be converLed as aL Lhe beginning
ol Lhe period, unless Lhey have been issued aL a laLer daLe. The diluLive poLenLial equiLy shares are ad|usLed
lor Lhe proceeds receivable had Lhe shares been acLually issued aL lair value (i.e. average markeL value ol Lhe
ouLsLanding shares). DiluLive poLenLial equiLy shares are deLermined independenLly lor each period presenLed.
The number ol equiLy shares and poLenLially diluLive equiLy shares are ad|usLed lor share spliLs f reverse share
splits and bonus shares, as appropriate.
2 . 1 9 T A XE S O N I N C O M E
CurrenL Lax is Lhe amounL ol Lax payable on Lhe Laxable income lor Lhe year as deLermined in accordance wiLh
Lhe applicable Lax raLes and Lhe provisions ol Lhe Income Tax AcL, I96I and oLher applicable Lax laws.
Minimum AlLernaLe Tax (MAT) paid in accordance wiLh Lhe Lax laws, which gives luLure economic benelLs in
Lhe lorm ol ad|usLmenL Lo luLure income Lax liabiliLy, is considered as an asseL il Lhere is convincing evidence
LhaL Lhe Company will pay normal income Lax. Accordingly, MAT is recognised as an asseL in Lhe Balance SheeL
when iL is probable LhaL luLure economic benelL associaLed wiLh iL will low Lo Lhe Company.
Delerred Lax is recognized on Liming dillerences beLween Lhe accounLing income and Lhe Laxable income lor Lhe
year and quanLiled using Lhe Lax raLes and laws enacLed or subsLanLively enacLed as on Lhe balance sheeL daLe.
Delerred Lax liabiliLies are recognised lor all Liming dillerences. Delerred Lax asseLs are recognized only Lo Lhe
exLenL Lhere is a reasonable cerLainLy LhaL asseLs can be realized in luLure. However, where Lhere is unabsorbed
depreciaLion or carry lorward ol losses and iLems relaLing Lo capiLal losses, delerred Lax asseLs are recognized
only il Lhere is a virLual cerLainLy supporLed by convincing evidence ol realizaLion ol such asseLs.
CurrenL and delerred Lax relaLing Lo iLems direcLly recognised in reserves are recognised in reserves and noL in
Lhe SLaLemenL ol ProlL and Loss.
2 . 2 0 I N T A N G I B L E A S S E T S
InLangible asseLs are carried aL cosL less accumulaLed amorLisaLion and impairmenL losses, il any. The cosL ol
an inLangible asseL comprises iLs purchase price, including any imporL duLies and oLher Laxes (oLher Lhan Lhose
subsequenLly recoverable lrom Lhe Laxing auLhoriLies), and any direcLly aLLribuLable expendiLure on making
Lhe asseL ready lor iLs inLended use and neL ol any Lrade discounLs and rebaLes. SubsequenL expendiLure on an
inLangible asseL alLer iLs purchase f compleLion is recognised as an expense when incurred unless iL is probable
LhaL such expendiLure will enable Lhe asseL Lo generaLe luLure economic benelLs in excess ol iLs originally
assessed sLandards ol perlormance and such expendiLure can be measured and aLLribuLed Lo Lhe asseL reliably,
in which case such expendiLure is added Lo Lhe cosL ol Lhe asseL.
2 . 2 1 R E S E A R C H A N D D E VE L O P M E N T E XP E N S E S
Pevenue expendiLure perLaining Lo research is charged Lo Lhe SLaLemenL ol ProlL and Loss. DevelopmenL cosLs
ol producLs are also charged Lo Lhe SLaLemenL ol ProlL and Loss unless a producL's Lechnological leasibiliLy has
been esLablished, in which case such expendiLure is capiLalised. The amounL capiLalised comprises expendiLure
that can be directly attributed or allocated on a reasonable and consistent basis to creating, producing and
making Lhe asseL ready lor iLs inLended use. Fixed asseLs uLilised lor research and developmenL are capiLalised
and depreciaLed in accordance wiLh Lhe policies sLaLed lor Tangible Fixed AsseLs and InLangible AsseLs.
2 . 2 2 I M P A I R M E N T O F A S S E T S
The carrying values ol asseLs f cash generaLing uniLs aL each balance sheeL daLe are reviewed lor impairmenL
il any indicaLion ol impairmenL exisLs. The lollowing inLangible asseLs are LesLed lor impairmenL each lnancial
year even if thereis no indication that theasset is impaired:
(a) an inLangible asseL LhaL is noL yeL available lor use, and (b) an inLangible asseL LhaL is amorLised over a period
exceeding Len years lrom Lhe daLe when Lhe asseL is available lor use.
Il Lhe carrying amounL ol Lhe asseLs exceed Lhe esLimaLed recoverable amounL, an impairmenL is recognised
lor such excess amounL. The impairmenL loss is recognised as an expense in Lhe SLaLemenL ol ProlL and Loss,
unless the asset is carried at revalued amount, in which case any impairment loss of the revalued asset is
LreaLed as a revaluaLion decrease Lo Lhe exLenL a revaluaLion reserve is available lor LhaL asseL.
The recoverable amounL is Lhe greaLer ol Lhe neL selling price and Lheir value in use. value in use is arrived aL by
discounLing Lhe luLure cash lows Lo Lheir presenL value based on an appropriaLe discounL lacLor.
When Lhere is indicaLion LhaL an impairmenL loss recognised lor an asseL (oLher Lhan a revalued asseL) in earlier
accounLing periods no longer exisLs or may have decreased, such reversal ol impairmenL loss is recognised in
Lhe SLaLemenL ol ProlL and Loss, Lo Lhe exLenL Lhe amounL was previously charged Lo Lhe SLaLemenL ol ProlL
and Loss. I n caseof revalued assets such reversal is not recognised.
2 . 2 3 P R O VI S I O N S , C O N T I N G E N T L I A B I L I T I E S A N D C O N T I N G E N T A S S E T S
A provision is recognized when Lhe Company has a presenL obligaLion as a resulL ol pasL evenLs and iL is
probable LhaL an ouLlow ol resources will be required Lo seLLle Lhe obligaLion, in respecL ol which a reliable
esLimaLe can be made. Provisions (excluding reLiremenL benelLs) are noL discounLed Lo Lheir presenL value and
are deLermined based on besL esLimaLes required Lo seLLle Lhe obligaLion aL Lhe balance sheeL daLe. These are
reviewed aL each balance sheeL daLe and ad|usLed Lo relecL Lhe currenL besL esLimaLes.
ConLingenL liabiliLy is disclosed lor (i) Possible obligaLion which will be conlrmed only by luLure evenLs noL
wholly wiLhin Lhe conLrol ol Lhe Company or (ii) PresenL obligaLions arising lrom pasL evenLs where iL is noL
probable LhaL an ouLlow ol resources will be required Lo seLLle Lhe obligaLion or a reliable esLimaLe ol Lhe
amounL ol Lhe obligaLion cannoL be made. ConLingenL asseLs are noL recognized in Lhe lnancial sLaLemenLs
since Lhis may resulL in Lhe recogniLion ol income LhaL may never be realized.
2 . 2 4 P R O VI S I O N F O R S A L E S R E L A T E D O B L I G A T I O N S
The esLimaLed liabiliLy lor sales relaLed obligaLions is recorded when producLs are sold. These esLimaLes
are esLablished using hisLorical inlormaLion on Lhe naLure, lrequency and average cosL ol obligaLions and
managemenL esLimaLes regarding possible luLure incidence. The Liming ol ouLlows will vary as and when Lhe
obligation will arise- beingtypicallyupto threeyears.
2 . 2 5 D E R I VA T I VE C O N T R A C T S
The Company enLers inLo derivaLive conLracLs in Lhe naLure ol loreign currency swaps, currency opLions, lorward
conLracLs wiLh an inLenLion Lo hedge iLs exisLing asseLs and liabiliLies, lrm commiLmenLs and highly probable
LransacLions. DerivaLive conLracLs which are closely linked Lo Lhe exisLing asseLs and liabiliLies are accounLed
as per Lhe policy sLaLed lor Foreign Currency TransacLions and TranslaLions.
All oLher derivaLive conLracLs are marked-Lo-markeL and losses are recognised in Lhe SLaLemenL ol ProlL and
Loss. Gains arisingon thesamearenot recognised, until realised, on grounds of prudence.
2 . 2 6 I N S U R A N C E C L A I M S
Insurance claims are accounLed lor on Lhe basis ol claims admiLLed f expecLed Lo be admiLLed and Lo Lhe exLenL
that thereis no uncertaintyin receivingtheclaims.
2 . 2 7 S E R VI C E T A X I N P U T C R E D I T S
Service Lax inpuL crediL is accounLed lor in Lhe books in Lhe period in which Lhe underlying service received is
accounted and when thereis no uncertaintyin availing/ utilisingthecredits.
2 . 2 8 O P E R A T I N G C YC L E
Based on Lhe naLure ol producLs f acLiviLies ol Lhe Company and Lhe normal Lime beLween acquisiLion ol asseLs
and Lheir realisaLion in cash or cash equivalenLs, Lhe Company has deLermined iLs operaLing cycle as I2 monLhs
lor Lhe purpose ol classilcaLion ol iLs asseLs and liabiliLies as currenL and non-currenL.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 2 7 1 2 6 | A P O L L O T YR E S L T D
B . N O T E S F O R M I N G A N I N T E G R A L P A R T O F T H E A C C O U N T S
B 1 S H A R E C A P I T A L
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) A U T H O R I S E D
7 3 0 , 0 0 0 , 0 0 0 (730,000,000) EquiLy Shares ol I each 7 3 0 . 0 0 730.00

2 0 0 , 0 0 0 (200,000) CumulaLive Pedeemable Prelerence 2 0 . 0 0 20.00
Shares of I00 each
7 5 0 . 0 0 750.00
(b ) I S S U E D , S U B S C R I B E D , C A L L E D A N D F U L L Y P A I D U P
E q u ity S h a re s o f 1 e a c h :
5 0 9 , 0 2 4 , 7 7 0 (504,024,770)EquiLy Shares 5 0 9 . 0 2 504.02

Add: Forfeited Shares : 1 3 , 5 6 5 (I3,565) 0 . 0 7 0.07
5 0 9 . 0 9 504.09
(c ) R e co n cilia tio n o f th e n u m b e r o f e q u ity sh a re s a n d a m o u n t o u tsta n d in g a t th e b e g in n in g a n d a t th e e n d o f th e ye a r:
A s a t M a rc h 3 1 , 2 0 1 5 As aL March 3I, 20I4
N o . o f S h a re s M illio n No. of Shares Million
OpeningBalance 5 0 4 , 0 2 4 , 7 7 0 5 0 4 . 0 2 504,024,770 504.02
Add: Shares allotted on conversion of Share
WarranLs (NoLe C 7)

5 , 0 0 0 , 0 0 0

5 . 0 0

-

-
C lo s in g B a la n c e 5 0 9 , 0 2 4 , 7 7 0 5 0 9 . 0 2 5 0 4 , 0 2 4 , 7 7 0 5 0 4 . 0 2
(d ) D e ta ils o f S h a re h o ld e rs h o ld in g m o re th a n 5 % o f th e P a id U p E q u ity S h a re C a p ita l o f th e C o m p a n y with Vo tin g
R ig h ts:
A s a t M a rc h 3 1 , 2 0 1 5 As aL March 3I, 20I4
S . N o . N a m e o f th e S h a re h o ld e r N o . o f S h a re s % a g e No. of Shares ºage
I Neera| ConsulLanLs LLd 4 2 , 5 0 8 , 1 4 2 8 . 3 5 % 42,508,I42 8.43º
2 Apollo FinanceLtd 3 6 , 7 5 9 , 6 5 0 7 . 2 2 % 36,759,650 7.29º
3 Sunrays ProperLies & InvesLmenL Co. PvL LLd 3 5 , 7 2 5 , 6 4 8 7 . 0 2 % 35,725,648 7.09º
4 ConstructiveFinancePvt Ltd 2 9 , 6 3 0 , 8 5 7 5 . 8 2 % 29,630,857 5.88º
5 Skagen Kon-Tiki verdipapirlond - - 27,020,843 5.36º
(e ) T h e rig h ts , p re fe re n c e s a n d re s tric tio n s a tta c h e d to e q u ity s h a re s o f th e C o m p a n y:
The company has only one class ol shares relerred Lo as equiLy shares having a par value ol I each. The holder ol
equiLy shares are enLiLled Lo one voLe per share.
(f) In Lhe evenL ol liquidaLion ol Lhe company, Lhe holders ol equiLy shares will be enLiLled Lo receive remaining asseLs
ol Lhe company, alLer disLribuLion ol all prelerenLial amounLs. The disLribuLion will be in proporLion Lo Lhe number ol
equiLy shares held by Lhe shareholders.
(g ) Shares issued towards outstandingsharewarrants - NoteC7.
B 2 R E S E R VE S A N D S U R P L U S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) C a p ita l S u b s id y - N o te C 5 2 5 . 5 0 3 . 0 0
(b ) C a p ita l R e d e m p tio n R e s e rve 4 4 . 4 0 4 4 . 4 0
(c ) S e c u ritie s P re m iu m A c c o u n t
As per last BalanceSheet 5 , 6 5 9 . 7 1 5,659.7I
Add: Received duringtheyear - NoteC 7 4 2 6 . 0 0 -
6 , 0 8 5 . 7 1 5,659.7I
(d ) D e b e n tu re R e d e m p tio n R e s e rve
As per last BalanceSheet 1 , 6 5 8 . 3 3 I,I70.83
Add. Transler lrom Surplus in SLaLemenL ol ProlL & Loss 3 0 0 . 0 0 59I.67
Less: Utilised duringtheyear 1 , 0 0 0 . 0 0 I04.I7
9 5 8 . 3 3 I,658.33
(e ) R e va lu a tio n R e s e rve 3 1 . 2 2 3I.22
(f) S h a re F o rfe itu re 1 , 3 7 5 /- ( I375f-) - -
(g ) G e n e ra l R e s e rve
As per last BalanceSheet 9 , 0 0 6 . 6 3 8,006.63
Add. Transler lrom Surplus in SLaLemenL ol ProlL & Loss 1 , 0 0 0 . 0 0 I,000.00
1 0 , 0 0 6 . 6 3 9,006.63
(h) SurpIus in Statement of Proñt & Loss
As per last BalanceSheet 1 0 , 3 8 3 . 0 3 7,886.60
Add. Transler lrom DebenLure PedempLion Peserve 1 , 0 0 0 . 0 0 I04.I7
Less: Depreciation on transition to ScheduleI I of theCompanies
AcL, 20I3 on Langible lxed asseLs wiLh nil remaining uselul
lile (neL ol delerred Lax ol I32.94 Million - NoLe C I0 2 5 8 . 1 8 -
Add. NeL ProlL lor Lhe year 6 , 4 5 0 . 8 1 4,426.I9
Balanceavailablefor Appropriation 1 7 , 5 7 5 . 6 6 I2,4I6.96

Less: Appropriations madeduringtheyear:
General Reserve 1 , 0 0 0 . 0 0 I,000.00
DebentureRedemption Reserve 3 0 0 . 0 0 59I.67
Proposed Dividend: 2 . 0 0 p e r s h a re ( 0.75 per share) 1 , 0 1 8 . 0 5 378.02
Dividend Tax 2 0 7 . 2 5 64.24
* Dividend lor previous year 3 . 7 5 -
* Dividend Tax on dividend lor previous year 0 . 6 4 -
2 , 5 2 9 . 6 9 2,033.93
ClosingBalance 1 5 , 0 4 5 . 9 7 I0,383.03

T o ta l R e s e rve s a n d S u rp lu s 32,197.76 26,786.32

* Dividend & Dividend Lax lor previous year relaLe Lo dividend paid on 5,000,000 equiLy shares which were
alloLLed on conversion ol 5,000,000 warranLs alLer March 3I, 20I4 buL belore duly 20, 20I4 (book closure daLe)
(NoLe - C7).
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 2 9 1 2 8 | A P O L L O T YR E S L T D
B 3 N O N - C U R R E N T L I A B I L I T I E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
L O N G - T E R M B O R R O WI N G S
(a ) S E C U R E D : *
(i) D e b e n tu re s
I,000 - 9.40 º Non ConverLible DebenLures ol
I Million each 1 , 0 0 0 . 0 0 I,000.00
I,000 - I0.I5 º Non ConverLible DebenLures ol
I Million each - I,000.00
I,250 - II.50 º Non ConverLible DebenLures ol
I Million each - 4I6.67
1 , 0 0 0 . 0 0 2,4I6.67
(ii) T e rm L o a n s
F ro m B a n k s :
ExLernal Commercial borrowings (ECB) 1 , 1 4 7 . 5 5 2,306.00
Pupee Term Loans - 333.33
1 , 1 4 7 . 5 5 2,639.33
F ro m O th e rs :
InLernaLional Finance CorporaLion - Loan A 677.06 902.74
I nternational FinanceCorporation - Loan B 399.I4 1 , 0 7 6 . 2 0 598.7I I,50I.45
BharaL EarLhmovers LLd. (BEML) - 4I2.45
1 , 0 7 6 . 2 0 I,9I3.90
(iii) D e fe rre d P a ym e n t L ia b ilitie s :
Delerred PaymenL CrediL I - NoLe C 26 1 0 7 . 4 9 I55.32
Delerred PaymenL CrediL II - NoLe C 26 8 . 1 5 I2.II
1 1 5 . 6 4 I67.43
3 , 3 3 9 . 3 9 7,I37.33
O T H E R L O N G - T E R M L I A B I L I T I E S :
SecurityDeposits Received fromDealers 1 4 . 5 3 I2.92
SecuriLy DeposiLs Peceived lrom Employees 5 4 . 6 1 49.20

6 9 . 1 4 62.I2
L O N G -T E R M P R O VI S I O N S :
Provision lor ConsLrucLive LiabiliLy - NoLe C I9 (c) 7 8 . 4 3 67.6I
7 8 . 4 3 67.6I
*For deLails regarding repaymenL Lerms, InLeresL PaLe and NaLure ol SecuriLy on Long Term Borrowings - NoLe B 3(a)
N O T E B 3 (a )
D E B E N T U R E S :
N a tu re
o f
B o rro w-
in g
P a rtic u la rs A m o u n t o u ts ta n d in g a s a t
M a rc h 3 1 , 2 0 1 5
M illio n
A m o u n t o u ts ta n d in g a s a t
M a rc h 3 1 , 2 0 1 4
M illio n
R a te o f
I n te re s t
T e rm s o f
R e p a ym e n t
D e ta ils o f
S e c u rity
O ffe re d
L o n g T e rm
B o rro w-
in g s
C u rre n t
M a tu ritie s o f
L o n g T e rm
B o rro win g s
L o n g T e rm
B o rro win g s
C u rre n t
M a tu ritie s o f
L o n g T e rm
B o rro win g s
I,000 - 9.40 º Non
ConvertibleDebentures
of I Million each

I,000.00

-

I,000.00

-

9.40º
Bullet repayment on
I0-II-20I7
Refer
NoLe A2 &
BI below
I,000 - I0.I5 º Non
ConvertibleDebentures
of I Million each

-

I,000.00

I,000.00

-

I0.I5º
Bullet Repayment on
I6-04-20I5.
Refer
NoLe A3 &
BI below
I,000 - I0.I5 º Non
ConvertibleDebentures
of I Million each

-

-

-

I,000.00

I0.I5º
Bullet Repayment on
29-03-20I5.
Refer
NoLe A3 &
BI below
I,250 - II.50 º Non
ConvertibleDebentures
of I Million each

-

4I6.67

4I6.67

4I6.67

II.50º
PepaymenL in 3
equal insLalmenLs ol
4I6.67 Million on
02-02-I4, 02-02-I5 &
02-02-I6 respecLively.
Refer
NoLe A2 &
BI below
2,000 - I0.I0 º Non
ConvertibleDebentures
of I Million each

-

-

-

2,000.00

I0.I0º
Bullet Repayment on
30-08-20I4
Unse-
cured
I,000 - 9.70 º Non
ConvertibleDebentures
of I Million each

-

-

-

I,000.00

9.70º
Bullet Repayment on
I7-I2-20I4
Unse-
cured
T o ta l D e b e n tu re s 1 , 0 0 0 . 0 0 1 , 4 1 6 . 6 7 2 , 4 1 6 . 6 7 4 , 4 1 6 . 6 7
E XT E R N A L C O M M E R C I A L B O R R O WI N G S F R O M B A N K S :
Bank I ECB II 56.I3 II2.25 I68.38 II2.25 9-I0º PepaymenL in 8 equal
installments of USD
I.25 Million hall
yearlystartedfrom
I7-I2-I2.
Refer Note
AI & BI
below
Bank 2 ECB II - - - 349.99 9-I0º PepaymenL in I hall-
yearlyinstallment of
USD I.25 Million and
Lhen 5 hall-yearly
installments of USD
3.75 Million sLarLed
lromI6-07-I2.
Refer Note
AI & B2
below
ECB III I34.85 269.70 404.55 269.70 9-I0º PepaymenL in 2 hall-
yearlyinstallments of
USD 2.50 Million and
Lhen 5 hall-yearly
installments of USD
3.00 Million sLarLed
lrom27-06-I3.
Refer Note
AI & B2
below
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 3 1 1 3 0 | A P O L L O T YR E S L T D
Bank 3 ECB I - 23I.I0 23I.I0 23I.I0 7-8º PepaymenL in 4 equal
annual installments
ol USD 5 Million
startedfrom
03-08-I2.
Refer Note
AI & B2
below
ECB II I39.I9 I39.I9 278.38 I39.I8 9-I0º PepaymenL in 4 equal
annual installments
ol USD 3.I25 Million
startedfrom
I6-07-I3.
Refer Note
AI & B2
below
Bank 4 ECB I 200.0I 99.99 300.00 - 7-8º PepaymenL in 3 equal
annual installments
in USD equivalenL Lo
` I00 Million sLarLing
lrom29-09-I5.
Refer Note
AI & BI
below
ECB II 288.27 I44.II 432.39 - 8-9º PepaymenL in 3 equal
annual installments
ol USD 2.90 Million
startingfrom
26-I0-I5.
Refer Note
AI & BI
below
Bank 5 ECB I 329.I0 I62.I0 49I.20 - I0-IIº PepaymenL in 3 equal
annual installments
ol USD 3.33 Million
startingfrom
28-09-I5.
Refer Note
AI & BI
below
T o ta l E x te rn a l C o m m e rc ia l
B o rro win g s

1 , 1 4 7 . 5 5

1 , 1 5 8 . 4 4

2 , 3 0 6 . 0 0

1 , 1 0 2 . 2 2
R U P E E T E R M L O A N S F R O M B A N K S :
Bank I Pupee TermLoans - - 333.33 I66.67 I2º Prepaidduringthis year.
T o ta l R u p e e T e rm L o a n s - - 3 3 3 . 3 3 I66.67

T E R M L O A N S F R O M O T H E R S :
I FC LoanA 677.06 225.69 902.74 225.69 9-I0º Repayment in
I2 hall-yearly
installments
ol USD 2.50
Millioneach
startedfrom
I7-06-20I3
Peler NoLe AI
& B2 below
LoanB 399.I4 I99.57 598.7I I99.57 9-I0º Repayment in
9half-yearly
installments of
USD 2.22 Million
eachstarted
from
I6-I2-20I3
Peler NoLe AI
& B2 below
BEML Loan I - - 4I2.45 82.49 2.25º
lower than
prevailing
SBI PLR
Prepaidduringthis year.
T o ta l T e rm L o a n s fro m O th e rs 1 , 0 7 6 . 2 0 4 2 5 . 2 6 1 , 9 1 3 . 9 0 5 0 7 . 7 5
D E F E R R E D P A YM E N T C R E D I T :
Others DeferredPayment
Credit I
I07.49 47.84 I55.32 44.54 7-8º Repayment
alongwith
I nterest in
240 consecu-
tivemonthly
installments
startedfrom
I5-05-2007
Wind Mills
purchased
under the
scheme.
DeferredPayment
Credit I I
8.I5 8.28 I2.II 7.97 8-9º Repayment
alongwith
InLeresL in 20
equal quarLerly
installments
startedfrom
April, 20I0.
Engineering
materials
purchased
under the
scheme
1 1 5 . 6 4 5 6 . 1 2 1 6 7 . 4 3 5 2 . 5 1

D E T A I L S O F S E C U R I T Y O F F E R E D T O E XI S T I N G L E N D E R S :
N o te A 1 A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land
& Premises aL village Kodakara in Kerala, aL village Limda in 0u|araL, aL SIPC0T IndusLrial 0rowLh CenLre aL
0ragadam near Chennai and aL Head 0llce in 0urgaon, Haryana LogeLher wiLh Lhe lacLory buildings,
PlanL & machinery & EquipmenLs, boLh presenL & luLure.
N o te A 2 A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land
& Premises aL village Kodakara in Kerala and aL village Limda in 0u|araL LogeLher wiLh Lhe lacLory
buildings, PlanL & machinery & EquipmenLs, boLh presenL & luLure.
N o te A 3 A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land &
Premises aL village Limda in 0u|araL LogeLher wiLh Lhe lacLory buildings, PlanL & machinery & Equip
menLs, boLh presenL & luLure.
N o te B 1 A pari passu lrsL charge along wiLh oLher lenders by way ol hypoLhecaLion over Lhe movable asseLs ol
Lhe company, boLh presenL and luLure (excepL sLocks & book debLs).
N o te B 2 A pari passu lrsL charge on Lhe movable asseLs and pari passu second charge on Lhe currenL asseLs ol
thecompany.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 3 3 1 3 2 | A P O L L O T YR E S L T D
B 4 C U R R E N T L I A B I L I T I E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
S H O R T -T E R M B O R R O WI N G S
S e c u re d *
PackingCredit 3 6 2 . 4 0 299.57
Banks - Cash Credit 1 . 1 6 2.02
U n s e c u re d
Buyers Credit - RM - I73.80
PackingCredit 4 , 2 6 3 . 0 4 I,33I.34
4 , 6 2 6 . 6 0 I,806.73
T R A D E P A YA B L E S
Payable Lo Micro, Small & Medium EnLerprises-NoLe C8 2 3 . 8 1 2I.35
Acceptances 1 8 7 . 7 9 I,243.50
AccounLs Payable - Paw MaLerials & Services 3 , 6 0 7 . 1 4 5,487.7I
FreighL, PorL Charges, CHA Charges Payable 6 6 4 . 5 6 47I.93
Expenses Payable 2 9 9 . 0 3 363.54
Employee PelaLed Payables ** 1 , 0 0 2 . 3 5 729.7I
Payableto Related Parties 8 3 7 . 1 3 665.67
6 , 6 2 1 . 8 1 8,983.4I
O T H E R C U R R E N T L I A B I L I T I E S :
C u rre n t M a tu ritie s o f L o n g -T e rm D e b t ***
S e c u re d
(a ) D e b e n tu re s :
I,250 - II.50 º Non ConverLible DebenLures ol I Million each 4 1 6 . 6 7 4I6.67
I,000 - I0.I5 º Non ConverLible DebenLures ol I Million each 1 , 0 0 0 . 0 0 -
I,000 - I0.I5 º Non ConverLible DebenLures ol I Million each - I,000.00
1 , 4 1 6 . 6 7 I,4I6.67
(b ) T e rm L o a n fro m B a n k s :
ExLernal Commercial borrowings (ECB) 1 , 1 5 8 . 4 4 I,I02.22
Pupee Term Loans - I66.67
1 , 1 5 8 . 4 4 I,268.89
(c ) T e rm L o a n fro m O th e rs :
I nternational FinanceCorporation - Loan A 2 2 5 . 6 9 225.69
I nternational FinanceCorporation - Loan B 1 9 9 . 5 7 I99.57
BharaL EarLhmovers LLd. (BEML) - 82.49
4 2 5 . 2 6 507.75
(d ) F in a n c e L e a s e - D e fe rre d P a ym e n t L ia b ilitie s :
Delerred PaymenL CrediL I - NoLe C 26 4 7 . 8 4 44.54
Delerred PaymenL CrediL II - NoLe C 26 8 . 2 8 7.97
5 6 . 1 2 52.5I
U n s e c u re d
(e ) D e b e n tu re s :
2,000 - I0.I0 º Non ConverLible DebenLures ol . I Million each - 2,000.00
I,000 - 9.70 º Non ConverLible DebenLures ol I Million each - I,000.00
- 3,000.00
3 , 0 5 6 . 4 9 6,245.82
T ra d e P a ya b le s I n c lu d e s d u e to R e la te d P a rtie s :
(NoLe - C 23)
SubsidiaryCompanies 8 0 5 . 4 6 634.02
Companies in which Directors areinterested 3 1 . 6 7 3I.65
8 3 7 . 1 3 665.67
* Cash CrediLs, Buyers CrediL lor Paw MaLerials and Packing CrediL are secured by a lrsL charge on Paw maLerials,
Work-in-Progress, SLocks, SLores and Book DebLs and by a second charge on Lhe Company's land aL village Koda-
kara in Kerala, aL 0ragadam and MaLhur village in Tamil Nadu and aL Head 0llce in 0urgaon, Haryana LogeLher wiLh
Lhe FacLory Buildings, PlanL & Machinery and EquipmenLs, boLh presenL and luLure.
** Employee PelaLed Payables includes commission on neL prolLs payable Lo whole-Lime direcLors 4 9 0 M illio n
( 228 Million)
*** For NaLure ol SecuriLy on CurrenL MaLuriLies ol Long Term DebLs-NoLe B 3(a)

B 4 C U R R E N T L I A B I L I T I E S (C o n tin u e d ) A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
O T H E R C U R R E N T L I A B I L I T I E S (C o n tin u e d ):
I nterest accrued but not dueon borrowings 1 4 4 . 9 4 229.48
Unclaimed Dividends * 3 5 . 9 1 32.45
Payables Lo Micro, Small & Medium EnLerprises - Capex
vendors-NoLe C8 7 . 2 1 7.44
InLeresL payable Lo Micro, Small &
Medium EnLerprises-NoLe C8 1 0 . 5 8 I0.58
O th e r p a ya b le s : **
AccounLs Payable - CapiLal 3I3.3I 4I6.83
Excise DuLy on closing sLock 288.I5 324.26
SLaLuLory remiLLances (ConLribuLion Lo PF & ESIC, vAT,
CST, Excise DuLy, CusLom DuLy, Service Lax and oLhers) 85I.I4 770.98
ExporL 0bligaLions - Advance Licence BenelL 7.67 64.05
Payable Lo PelaLed ParLies 47.53 5.68
SecuriLy DeposiLs - vendors 287.85 330.8I
SecuriLy DeposiLs - Dealers f Employees 65.02 5I.84
Advances Peceived lrom CusLomers 302.79 353.35
Others 0.08 2 , 1 6 3 . 5 4 - 2,3I7.80
GratuityPayable 1 9 8 . 2 5 48.43
2 , 5 6 0 . 4 3 2,646.I8
5 , 6 1 6 . 9 2 8,892.00
S H O R T -T E R M P R O VI S I O N S :
Provision lor ConsLrucLive LiabiliLy - NoLe C I9 (c) 2 2 . 8 8 I5.38
Provision for Compensated Absences 2 2 7 . 6 9 I89.86
Provision lor ConLingencies - NoLe C I9 (b) 4 2 5 . 0 0 425.00
Provision lor EsLimaLed Loss on Forward
Foreign Exchange ConLracLs 1 5 0 . 4 9 67.85
Proposed Dividend on EquiLy Shares 1 , 0 1 8 . 0 5 378.02
Dividend Tax 2 0 7 . 2 5 64.24
Provision lor TaxaLion II,068.30 8,582.I2
Less. MAT CrediL Ad|usLed 450.I3 58.52
Less. Advance Tax I0,3I3.4I 3 0 4 . 7 6 8,3I5.45 208.I5
Provision lor WealLh Tax 7 . 0 0 7.00
Provision lor Sales relaLed obligaLions - NoLe C I9 (a) 1 , 6 6 9 . 3 8 I,507.70
4 , 0 3 2 . 5 0 2,863.20
** O th e r P a ya b le s I n c lu d e s d u e to R e la te d P a rtie s :
(NoLe - C 23)
SubsidiaryCompanies 4 . 3 8 I.20
Companies in which Directors areinterested 4 3 . 1 5 4.48
4 7 . 5 3 5.68
* Includes 3 . 6 0 M illio n ( 2.92 Million) which has noL been Lranslerred Lo Lhe InvesLor EducaLion and ProLecLion Fund
under SecLion I24 ol Lhe Companies AcL, 20I3, as per Lhe orders f insLrucLions ol Lhe special courL (Trial ol ollences
relaLing Lo LransacLions in securiLies), Mumbai.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 3 5 1 3 4 | A P O L L O T YR E S L T D
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A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 3 7 1 3 6 | A P O L L O T YR E S L T D
B 6 N O N -C U R R E N T I N VE S T M E N T S
(A T C O S T ) A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
T R A D E I N VE S T M E N T S
(a ) I n ve s tm e n t in E q u ity I n s tru m e n ts (Q u o te d ): *
1 6 , 3 9 4 (I6,394) EquiLy Shares ol I0f- each in BharaL
Gears Ltd. - FullyPaid Up 0 . 3 6 0.36

(b ) I n ve s tm e n t in E q u ity I n s tru m e n ts (U n q u o te d ):
S u b s id ia ry C o m p a n ie s :
1 2 5 , 9 0 6 , 2 0 7 (I25,906,207) EquiLy shares ol USD I each in Apollo
(MauriLius) Holdings PvL LLd. - wholly owned subsidiary - Fully Paid Up 6 , 5 0 7 . 9 7 6,507.97
O th e r C o m p a n ie s :
3 1 2 , 0 0 0 (3I2,000) EquiLy Shares ol I0 each in 0reen Inlra Wind
Power Pro|ecLs - Fully paid up. 3 . 1 2 3.I2
5 , 5 0 0 (5,500) EquiLy Shares ol I0 each in Suryadev Alloys and
Power Pvt Ltd. - Fullypaid up. 0 . 5 9 0.59

(c ) I n ve s tm e n t in M e m b e rs h ip I n te re s t:
Apollo Tyres (0reenleld) Co-operaLiel U.A. - wholly owned subsidiary 4 . 0 5 -
O T H E R N O N C U R R E N T I N VE S T M E N T S (N O N T R A D E ):
(a ) I n ve s tm e n t in M u tu a l F u n d s : **
UniLs ol "UTI Balanced Fund - Dividend Plan - PeinvesLmenL" ***
(Face value ol I0f- each) 2 . 6 0 2.I0
(b ) O th e rs :
I nvestment in 5 , 0 0 0 (5,000) EquiLy Shares ol I00f- each in Apollo Tyres
Employees' MulLipurpose Co-operaLive SocieLy LimiLed 0 . 5 0 0.50
6 , 5 1 9 . 1 9 6,5I4.64

* AggregaLe amounL ol quoLed InvesLmenLs 0 . 3 6 0.36
AggregaLe markeL value ol lisLed and quoLed invesLmenLs 1 . 1 9 0.64
AggregaLe amounL ol unquoLed InvesLmenLs 6 , 5 1 8 . 8 3 6,5I4.28
** No. ol uniLs aL Lhe beginning ol Lhe year - 1 6 1 , 8 2 6 (I6I,826) 2 . 1 0 2.I0
Add: Reinvestment of dividend duringtheyear - 1 7 , 7 3 6 (Nil) 0 . 5 0 0.00
No. of units at theend of theyear - 1 7 9 , 5 6 2 (I6I,826) 2 . 6 0 2.I0
*** Pepurchase price ol uniLs 5 . 2 3 4.09
B 7 L O N G T E R M L O A N S & A D VA N C E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
L o n g -T e rm L o a n s & A d va n c e s :
(Unsecured and Considered 0ood)
Capital Advances - Others 6 2 8 . 2 1 294.63
Capital Advances to Related Parties 7 9 . 6 0 I23.89

Doubtful Capital Advances 1 3 4 . 1 8 I34.I8
8 4 1 . 9 9 552.70
Less: Provision for Doubtful Advances 1 3 4 . 1 8 I34.I8
7 0 7 . 8 1 4I8.52
SecurityDeposits 6 3 6 . 8 4 38I.I9
SecurityDeposits to Related Parties 4 1 8 . 0 1 4I8.0I
Employee Advances - Salary Loan 1 5 . 0 5 I0.09
0Lher Loans and Advances - Excise DuLy Pecoverable 2 . 5 7 2.57
1 , 7 8 0 . 2 8 I,230.38
I n c lu d e s A d va n c e s g ive n to R e la te d P a rtie s :
(NoLe - C 23)
Companies in which Directors areinterested 4 9 7 . 6 1 54I.90

B 8 O T H E R N O N -C U R R E N T A S S E T S
I nvestment promotion SubsidyReceivablefrom
0overnmenL ol Tamil Nadu 3 6 0 . 1 8 2I4.I4

3 6 0 . 1 8 2I4.I4
B 9 C U R R E N T I N VE S T M E N T S
N0N TPADE INvESTMENTS
InvesLmenL in MuLual Funds * 1 , 0 0 0 . 0 0 -

1 , 0 0 0 . 0 0 -
* P a rtic u la rs N o . o f U n its Va lu e ( M illio n ) N A V
SBI 20,000,000 200.00 I0.8282
I CI CI 25,000,000 250.00 I0.8336
Reliance 5,000,000 50.00 I0.8027
Birla (SchemeI) 25,000,000 250.00 I0.8358
Birla (Scheme 2) 25,000,000 250.00 I0.8294
1 0 0 , 0 0 0 , 0 0 0 1 , 0 0 0 . 0 0
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 3 9 1 3 8 | A P O L L O T YR E S L T D
B 1 0 C U R R E N T A S S E T S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) I N VE N T O R I E S :
(valued aL lower ol cosL and neL realizable value)
(i) R a w M a te ria ls :
- In Hand 2 , 9 4 2 . 9 0 3,805.86
- In TransiL 9 4 . 7 6 I46.27
3 , 0 3 7 . 6 6 3,952.I3

(ii) Wo rk -in -P ro g re s s # 5 8 8 . 6 7 675.42
(iii) F in is h e d G o o d s :
- In Hand 6 , 0 7 8 . 1 8 6,307.52
- In TransiL 1 , 1 2 9 . 8 0 954.73
7 , 2 0 7 . 9 8 7,262.25
(iv) S to c k -in -T ra d e :
- In Hand 1 5 7 . 1 0 I80.88
- In TransiL 2 9 . 6 5 I9.25
1 8 6 . 7 5 200.I3

(v) S to re s a n d S p a re s 8 3 0 . 8 0 746.99
1 1 , 8 5 1 . 8 6 I2,836.92
(b ) T R A D E R E C E I VA B L E S - U N S E C U R E D
(0uLsLanding lor a period exceeding six monLhs lrom Lhe
daLe Lhey were due lor paymenL)
Considered Good 1 . 1 2 I.25
Considered Doubtful 2 4 . 4 0 24.40
0Lhers - Considered 0ood * 3 , 1 9 8 . 9 8 2,404.20
3 , 2 2 4 . 5 0 2,429.85
Less. Provision lor DoubLlul Trade Peceivables 2 4 . 4 0 24.40
3 , 2 0 0 . 1 0 2,405.45
* T ra d e R e c e iva b le s I n c lu d e d u e fro m R e la te d P a rtie s :
(NoLe - C 23)
SubsidiaryCompanies 9 9 3 . 2 4 759.78
Companies in which Directors areinterested 1 1 3 . 4 9 I58.04
1 , 1 0 6 . 7 3 9I7.82
(c ) C A S H A N D C A S H E Q U I VA L E N T S **
(i) C a s h o n h a n d 1 . 7 5 2.97
(ii) C h e q u e s o n h a n d 1 , 1 8 0 . 6 4 874.32
(iii) R e m itta n c e s in T ra n s it 4 5 2 . 5 5 384.94
(iv) B a la n c e s with B a n k s :
Current Accounts 3 6 6 . 5 4 459.55
Other deposit accounts
- original maLuriLy ol 3 monLhs or less - 400.00
(v) O th e r B a n k B a la n c e s :
Unpaid Dividend Accounts 3 5 . 9 1 32.45
Unclaimed Deposits Accounts 1 . 0 7 I.07
DeposiLs wiLh MaLuriLy exceeding 3 MonLhs *** 3 9 . 9 4 55.80
2 , 0 7 8 . 4 0 2,2II.I0

** 0uL ol Lhe above balance ol Cash & Cash EquivalenLs, Lhe balance LhaL meeLs Lhe delniLion ol Cash & Cash
EquivalenLs as per AS-3, Cash Flow SLaLemenLs is 2 , 0 0 1 . 4 8 M illio n ( 2,I2I.78 Million)
*** Includes DeposiL ol 3 7 . 9 7 M illio n ( 53.83 Million) pledged wiLh a bank againsL which working capiLal loan has
been availed byApollo FinanceLtd, a companyin which directors areinterested.
I ncludes deposits of 1 . 9 7 M illio n ( I.97 Million) which have an original maLuriLy ol more Lhan I2 monLhs.
# Work in Progress consisLs ol AuLomoLive Tyres only.
B 1 1 S H O R T T E R M L O A N S & A D VA N C E S
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

S h o rt-T e rm L o a n s & A d va n c e s :
(Unsecured and Considered 0ood)
Advances given to Related Parties 1 3 5 . 7 7 I33.23
O th e rs :
Trade Advances 7 0 9 . 1 7 977.57
Employee Advances 1 2 9 . 4 2 I05.47
CENvAT Pecoverable 1 0 2 . 9 3 I63.98
vAT Pecoverable 3 4 9 . 1 8 3I5.I5
Service Tax Pecoverable 9 1 . 0 5 75.5I
ExporL IncenLives Pecoverable 8 5 . 8 7 40.98
Prepaid Expenses 7 7 . 8 0 I37.I3
Others - 46.65
1 , 6 8 1 . 1 9 I,995.67
Considered Doubtful 2 0 . 5 6 20.56
1 , 7 0 1 . 7 5 2,0I6.23
Less: Provision for Doubtful Advances 2 0 . 5 6 20.56
1 , 6 8 1 . 1 9 I,995.67
MAT CrediL EnLiLlemenL availed 450.I3 508.65
Less. MAT CrediL uLilised (450.I3) - (58.52) 450.I3
1 , 6 8 1 . 1 9 2,445.80
A d va n c e s g ive n to R e la te d P a rtie s :
(NoLe - C 23)
SubsidiaryCompanies 9 0 . 0 9 52.60
Companies in which Directors areinterested 4 5 . 6 8 80.63
1 3 5 . 7 7 I33.23
B 1 2 O T H E R C U R R E N T A S S E T S
I nvestment promotion SubsidyReceivablefrom
0overnmenL ol Tamil Nadu 3 7 5 . 0 0 375.00
I nterest accrued on Deposits 0 . 9 6 I.05
3 7 5 . 9 6 376.05
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 4 1 1 4 0 | A P O L L O T YR E S L T D
B 1 3 O T H E R O P E R A T I N G I N C O M E
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

O T H E R O P E R A T I N G I N C O M E
I nvestment promotion SubsidyfromGovernment 5 2 1 . 0 4 939.I4
ol Tamil Nadu - NoLe C 4
Tyres DevelopmenL Fees received lrom CusLomers - 42.I6
Early PaymenL DiscounL Peceived lrom Paw MaLerial Suppliers 7 4 . 4 5 35.22
5 9 5 . 4 9 I,0I6.52
B 1 4 O T H E R I N C O M E
(a ) I n te re s t e a rn e d o n D e p o s its
- Bank 4 3 . 3 4 I49.84
- Others 1 3 . 8 5 32.76
5 7 . 1 9 I82.60
(b ) D ivid e n d I n c o m e fro m L o n g T e rm I n ve s tm e n ts :
Bharat Gears Ltd. 0 . 0 2 0.03
UniL TrusL ol India 0 . 5 0 -
0 . 5 2 0.03
(c ) D ivid e n d I n c o m e fro m S h o rt T e rm I n ve s tm e n ts :
Mutual Funds 2 5 . 7 8 92.54
(d ) O th e r N o n -O p e ra tin g I n c o m e :
Unclaimed Credit Balances / Provisions no longer
required wriLLen back 2 0 . 0 0 26.37
RoyaltyI ncome 7 3 . 8 3 57.28
0ain on Foreign Exchange FlucLuaLion (NeL) 8 6 . 6 5 II3.40
Miscellaneous Receipts 1 1 1 . 4 9 320.04
2 9 1 . 9 7 5I7.09
3 7 5 . 4 6 792.26
B 1 5 M A N U F A C T U R I N G A N D O T H E R E XP E N S E S

Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

C o s t o f M a te ria ls C o n s u m e d :
Paw MaLerials Consumed - NoLe C I3(B) 5 4 , 3 0 2 . 2 8 57,466.24
Less: Scrap Recoveries 2 9 5 . 1 4 223.I8
5 4 , 0 0 7 . 1 4 57,243.06
P u rc h a s e o f S to c k -in -T ra d e :
Purchase ol Finished 0oods - Tyres, Tubes & Flaps 2 , 4 9 2 . 1 9 2,502.76
EmpIoyee Beneñts Expense:
Salaries and Wages 4 , 2 0 0 . 6 7 3,460.I7
ConLribuLion Lo ProvidenL and 0Lher Funds - NoLe 4 & CI6 4 7 2 . 9 6 298.I0
Wellare expenses 7 7 4 . 1 1 695.72
Employees SLock AppreciaLion PighLs - NoLe CI7 3 . 5 8 78.55
5 , 4 5 1 . 3 2 4,532.54
O th e r E x p e n s e s :
ConsumpLion ol sLores and spare parLs - NoLe I 6 0 5 . 8 8 538.92
Power and Fuel - NoLe 2 2 , 7 9 7 . 0 4 2,760.35
Conversion Charges 1 , 0 5 3 . 2 5 I,095.I8
Repairs and Maintenance
- Machinery 1 1 8 . 6 3 I26.5I
- Buildings 2 5 . 0 5 I8.66
- Others 6 7 4 . 3 9 595.23
PenL - NoLe 3 2 9 9 . 8 9 268.02
LeaseRent - Factory 4 0 0 . 0 0 400.00
I nsurance 7 9 . 3 3 83.60
PaLes and Taxes 1 6 0 . 4 9 I75.24
DirecLors' SiLLing Fees 6 . 3 0 I.38
Commission Lo Non-WholeLime DirecLors 5 0 . 0 0 30.00
Loss on Sale ol Tangible Fixed AsseLs (NeL) 2 6 . 2 4 23.93
Travelling, Conveyance and vehicle Expenses 9 5 6 . 6 8 934.37
PosLage, Telex, Telephone and SLaLionery 1 1 9 . 1 1 II9.88
Conlerence Expenses 2 9 4 . 9 0 II9.82
RoyaltyPaid 8 . 8 6 7.83
Freight and Forwarding 2 , 6 1 5 . 3 1 2,070.38
Commission on Sales 9 0 . 0 0 38.79
Sales PromoLion Expenses 8 7 0 . 3 9 494.89
Advertisement and Publicity 5 6 4 . 4 8 765.66
CorporaLe Social PesponsibiliLy Expenses - NoLe 5 & C20 5 7 . 3 7 37.38
Pesearch and DevelopmenL - NoLe CII 8 7 5 . 2 5 757.50
Bank Charges 3 6 . 6 2 57.90
SLaLuLory AudiLors PemuneraLion - NoLe CI2 1 2 . 4 5 II.40
DoubLlul Peceivables f Advances WriLLen oll - I7.I3
Less. Translerred lrom Provision - (I7.I3)
Legal and Prolessional Expenses 4 1 6 . 7 0 344.38
Provision lor ConLingencies - NoLe CI9 (b) - 425.00
Miscellaneous Expenses 8 6 0 . 9 8 706.2I
1 4 , 0 7 5 . 5 9 I3,008.4I
7 6 , 0 2 6 . 2 4 77,286.77
N o te s :
I) SLores & Spares Consumed includes sLores issued lor repairs 2 . 6 3 M illio n ( I.55 Million).
2) Power and Fuel includes SLores Consumed 5 2 3 . 1 1 M illio n ( 668.08 Million).
3) NeL ol PenL Peceived 1 . 4 5 M illio n ( I.47 Million).
4) NeL ol Cross-Charge 1 . 0 8 M illio n ( 0.I5 Million)
5) CorporaLe Social PesponsibiliLy Expenses includes 0 . 5 5 M illio n available as on March 3I, 20I5 wiLh Lhe
implementation partner to bedeployed in duecourse.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 4 3 1 4 2 | A P O L L O T YR E S L T D
B 1 6 C H A N G E S I N I N VE N T O R I E S O F F I N I S H E D G O O D S , WO R K I N P R O G R E S S & S T O C K -I N -T R A D E

Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

O P E N I N G S T O C K
Work in Progress 6 7 5 . 4 2 579.48
Finished Goods 7 , 2 6 2 . 2 5 6,037.20
SLock-in-Trade 2 0 0 . 1 3 238.6I
8 , 1 3 7 . 8 0 6,855.29
L e s s :
C L O S I N G S T O C K
Work in Progress 5 8 8 . 6 7 675.42
Finished Goods 7 , 2 0 7 . 9 8 7,262.25
SLock-in-Trade 1 8 6 . 7 5 200.I3
7 , 9 8 3 . 4 0 8,I37.80
D e c re a s e / (I n c re a s e ) 1 5 4 . 4 0 (I,282.5I)
Excise DuLy on Increase f (Decrease) ol Finished 0oods 4 2 . 8 9 I23.84
(NoLe C9)
1 9 7 . 2 9 (I,I58.67)
B 1 7 F I N A N C E C O S T S

Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

(a ) I n te re s t E x p e n s e :
InLeresL on Fixed-Lerm Loans 4 7 3 . 0 2 7I7.I0
I nterest on Debenture 5 3 6 . 7 9 736.72
I nterest on Other Loans 6 9 4 . 0 5 956.23
(b ) O th e r B o rro win g C o s t 1 7 . 0 2 36.05
1 , 7 2 0 . 8 8 2,446.I0
C . O T H E R N O T E S O N A C C O U N T S :
1 . C o n tin g e n t L ia b ilitie s
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Sales Tax 7 6 . 1 7 III.92
Income Tax# 4 5 1 . 3 0 I80.46
Claims againsL Lhe Company noL acknowledged as debLs ¬ Employee PelaLed 4 8 . 6 4 5I.02
¬ 0Lhers 4 3 . 0 0 28.54
Provision ol SecuriLy (Bank DeposiLs pledged wiLh a Bank againsL which working
capital loan has been availed byApollo FinanceLtd, a Companyin which Directors
are inLeresLed)

3 7 . 9 7

53.83
Excise DuLy* 5 7 . 9 3 363.55
* Excludes demand ol 5 3 2 . 1 2 M illio n ( 532.I2 Million) raised on one ol Lhe Company's uniLs relaLing Lo issues
which have been decided by Lhe AppellaLe AuLhoriLy in Company's lavour in appeals perLaining Lo anoLher uniL ol Lhe
Company. Show-causenotices received fromvarious Government Agencies pendingformal demand notices havenot
been considered as contingent liabilities.
# Excludes amounL ol 4 4 1 . 6 6 M illio n ( 44I.66 Million) in appeals which have been decided by AppellaLe auLhoriLies
in Company's lavour buL on which Lhe deparLmenL has gone lor lurLher appeal.
I n the opinion of the management, no provision is considered necessary for the disputes mentioned above on the
ground that therearefair chances of successful outcomeof appeals.

2 . C o m m itm e n ts
P A R T I C U L A R S A s a t
M a rc h 3 1 , 2 0 1 5
M illio n
A s a t
M a rc h 3 1 , 2 0 1 4
M illio n
EsLimaLed amounL ol conLracLs remaining Lo be execuLed on capiLal accounL
and not provided for

8 0 0 . 1 4

1 , 7 4 3 . 1 9
O th e r C o m m itm e n ts :
Non-disposal ol invesLmenLs in indirecL subsidiary, Apollo Tyres (Middle EasL)
FZE, Lhrough Apollo (MauriLius ) Holdings PvL. LLd. value ol invesLmenL is
3 4 . 1 4 M illio n ( 32.6I Million)
The Company has lurLher lnancial supporL commiLmenLs provided Lo cerLain
Subsidiaries
T O T A L 8 0 0 . 1 4 1 , 7 4 3 . 1 9

The Company has inLernaLional LransacLions wiLh relaLed parLies. For Lhe currenL year, Lhe managemenL conlrms LhaL
iL mainLains documenLs as prescribed by Lhe Income Lax AcL, I96I Lo prove LhaL Lhese inLernaLional LransacLions are
aL arm's lengLh and Lhe aloresaid legislaLion will noL have any impacL on Lhe lnancial sLaLemenLs, parLicularly on Lhe
amounL ol Lax expense and LhaL ol provision lor LaxaLion.
4 . I n ve s tm e n t P ro m o tio n S u b s id y F ro m G o ve rn m e n t O f T a m iln a d u
The Company has esLablished radial Lyre manulacLuring laciliLy in SIPC0T IndusLrial Park, 0ragadam near Chennai
and availed incenLives lrom Lhe SLaLe 0overnmenL ol Tamil Nadu lor esLablishing such pro|ecL. The consLrucLion
ol lrsL phase ol Lhe new green leld radial Lyre planL was compleLed as per pro|ecL schedule, which commenced
operaLions lrom March II, 20I0. The Truckf Bus radial segmenL has commenced operaLions lrom May II, 20I0.
PursuanL Lo Lhe Memorandum ol UndersLanding (MoU) daLed AugusL 7, 2006 read along wiLh a SupplemenLary MoU
daLed danuary II, 20II execuLed beLween Lhe 0overnmenL ol Tamil Nadu (0oTN) and Lhe Company, 0oTN sancLioned
a SLrucLured Package ol AssisLance Lo Lhe Company in Lerms ol Lhe New IndusLrial Policy, 2007. As per Lhis SLrucLured
Package ol AssisLance, Lhe Company is enLiLled, inLeralia, lor relund ol an amounL equal Lo NeL 0uLpuL vAT + CST paid
by Lhe Company Lo 0oTN in Lhe lorm ol InvesLmenL PromoLion Subsidy lor a period ol I4 years (which can be exLended
by anoLher 4 years), lrom Lhe daLe ol commencemenL ol commercial producLion or Lill Lhe cumulaLive availmenL ol Lhe
3 .
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 4 5 1 4 4 | A P O L L O T YR E S L T D
said subsidy reaches 50º ol Lhe invesLmenL made in eligible lxed asseLs during Lhe approved invesLmenL period as
delnd by Lhe MoU, whichever is earlier. This eligibliLy is sub|ecL Lo lullllmenL ol cerLain obligaLions by Lhe Company.
As Lhe Company has lulllled Lhe relevanL obligaLions, Lhe Company has recognized subsidy income ol 5 2 1 . 0 4
M illio n ( 939.I4 Million) as oLher operaLing income (NoLe BI3), being Lhe eligible amounL ol relund ol NeL 0uLpuL vAT
+ CST paid by Lhe Company Lo 0oTN. Subsidy recorded during Lhe previous year represenLs subsidy lrom Lhe daLe ol
commencemenL ol commercial producLion Lill March 3I, 20I4. Based on Lhe legal opinion obLained by Lhe Company,
Lhe said subsidy is considered non-Laxable.
5 . C a p ita l S u b s id y
As per New IndusLrial Policy 2007, new and expansion uniLs invesLing 2000 Million and above and employing more
Lhan 400 direcL workers will be eligible lor a back ended capiLal subsidy ol I5 Million. FurLher manulacLuring uniLs
locaLed wiLhin a SIPC0T IndusLrial park will be eligible lor an addiLional 50º capiLal subsidy over and above Lhe
eligible limit. During the year, the Company received the capital subsidy of 22.5 Million on lulllling Lhe eligibiliLy
condiLions which has been crediLed Lo capiLal subsidy disclosed under Peserves & Surplus.
6 . E x c e p tio n a l I te m s
ExcepLional iLem during Lhe previous year represenLs expenses incurred in connecLion wiLh Lhe proposed acquisiLion ol
Cooper Tire & Pubber Company (Cooper) which was LerminaLed by Cooper on December 30, 20I3.
7 . I s s u e O f S h a re s O n C o n ve rs io n O f S h a re Wa rra n ts
The company had alloLed 5,000,000 warranLs, converLible inLo 5,000,000 equiLy shares ol I each Lo a promoLer
0roup Company on December 2I, 20I2, on a prelerenLial alloLmenL basis pursuanL Lo SecLion 8I (IA) ol Lhe Compa-
nies AcL, I956, aL a conversion price ol 86.20 per share deLermined in accordance wiLh Lhe SEBI (Issue ol CapiLal
and Disclosure PequiremenLs) PegulaLions, 2009. An amounL equivalenL Lo 25º ol Lhe price aggregaLing Lo I07.75
Million was received on allotment of thewarrants previous year. On receipt of thebalanceamount of 323.25 Million
on dune I9, 20I4, Lhe company has alloLLed 5,000,000 equiLy shares ol I each aL a premium ol 85.20 per share.
8 . D is c lo s u re s re q u ire d u n d e r S e c tio n 2 2 o f th e M ic ro , S m a ll a n d M e d iu m E n te rp ris e s D e ve lo p m e n t A c t, 2 0 0 6
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
(i) Principal amounL remaining unpaid Lo any supplier as aL Lhe end ol Lhe accounLing year 3 1 . 0 2 28.79
(ii) InLeresL due Lhereon remaining unpaid Lo any supplier as aL Lhe end ol Lhe
accountingyear

1 0 . 5 8

I0.58
(iii) The amounL ol inLeresL paid along wiLh Lhe amounLs ol Lhe paymenL made Lo Lhe
supplier beyond theappointed day

-

-
(iv) The amounL ol inLeresL due and payable lor Lhe year - -
(v) The amounL ol inLeresL accrued and remaining unpaid aL Lhe end ol Lhe accounLing
year

1 0 . 5 8

I0.58
(vi) The amounL ol lurLher inLeresL due and payable even in Lhe succeeding year, unLil
such datewhen theinterest dues as aboveareactuallypaid

1 0 . 5 8

I0.58
Dues Lo Micro and Small EnLerprises have been deLermined Lo Lhe exLenL such parLies have been idenLiled on Lhe
basis ol inlormaLion collecLed by Lhe ManagemenL. This has been relied upon by Lhe audiLors.
9 . Excise duLy relaLing Lo sales has been disclosed as a reducLion lrom Lurnover. Excise duLy relaLed Lo dillerence
beLween Lhe closing sLock and opening sLock has been disclosed in NoLe B I6 "Changes in InvenLories ol Finished
0oods, Work in Progress & SLock-in-Trade".
1 0 . During Lhe year, pursuanL Lo Lhe noLilcaLion ol Schedule II Lo Lhe Companies AcL, 20I3 wiLh ellecL lrom April I,
20I4, Lhe company revised Lhe esLimaLed uselul lile ol iLs asseLs Lo align Lhe uselul lile wiLh Lhose speciled in
scheduleI I .
PursuanL Lo Lhe LransiLion provision prescribed in Schedule II Lo Lhe Companies AcL, 20I3, Lhe company has lully
depreciated the carrying value of assets, net of residual value, where the remaining useful life of the assets is
deLermined Lo be nil as on April I, 20I4 and has ad|usLed an amounL ol 258.I8 Million (neL ol delerred Lax ol
I32.94 Million) againsL Lhe opening surplus balance in Lhe SLaLemenL ol ProlL and Loss under Peserves and
Surplus.
The depreciaLion expense in Lhe sLaLemenL ol prolL and loss lor Lhe year is lower by 64.95 Million consequenL Lo
thechangein theuseful lifeof theassets.
1 1 . R e s e a rc h a n d d e ve lo p m e n t E x p e n d itu re s :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
(A ) R e ve n u e E x p e n d itu re
Materials
Employee BenelL Expenses
Travelling Expenses
Others

8 4 . 8 6
1 3 5 . 0 8
2 0 . 1 1
6 3 5 . 2 0

98.57
I26.27
I3.I0
5I9.56
S U B - T O T A L 8 7 5 . 2 5 757.50
(B ) C a p ita l E x p e n d itu re 1 6 7 . 5 1 I86.I4
T O T A L (A +B ) 1 , 0 4 2 . 7 6 943.64
1 2 . S ta tu to ry A u d ito rs ’ R e m u n e ra tio n :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
For Audit
For CompanyLaw matters
For 0uarLerly Peview & ConsolidaLion
For Other Services
6 . 0 0
0 . 4 0
2 . 6 0
3 . 4 5
5 . 0 0
0 . 3 0
2 . 2 0
3 . 9 0
T O T A L 1 2 . 4 5 1 1 . 4 0
1 3 . (A ) T u rn o ve r a n d s to c k o f F in is h e d g o o d s & S to c k -in -T ra d e
P A R T I C U L A R S U n it
O p e n in g S to c k T u rn o ve r C lo s in g S to c k
2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4
AuLomobile Tyres,
Tubes and Flaps

Million

7 , 3 5 6 . 0 9

6,I90.45

9 8 , 1 5 8 . 5 5

95,328.62

7 , 2 5 2 . 8 3

7,356.09
Others Million 1 0 6 . 2 9 85.36 6 1 4 . 1 7 564.2I 1 4 1 . 9 0 I06.29
T O T A L Million 7 , 4 6 2 . 3 8 6,275.8I 9 8 , 7 7 2 . 7 2 95,892.83 7 , 3 9 4 . 7 3 7,462.38
(B ) R a w M a te ria ls C o n s u m e d
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Fabric
Rubber
Chemicals
Carbon Black
Others
6 , 7 4 3 . 3 1
2 7 , 9 2 6 . 2 9
5 , 0 5 2 . 6 5
8 , 0 3 7 . 8 7
6 , 5 4 2 . 1 6
7,I2I.I5
32,602.49
4,348.99
7,8I9.I3
5,574.48
T O T A L 5 4 , 3 0 2 . 2 8 57,466.24
(C ) B re a k -u p o f C o n s u m p tio n
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
% M illio n % M illio n
Raw Materials - I mported
- I ndigenous
4 5 . 7 4 %
5 4 . 2 6 %
2 4 , 8 3 8 . 2 6
2 9 , 4 6 4 . 0 2
44.08º
55.92º
25,332.72
32,I33.52
1 0 0 . 0 0 % 5 4 , 3 0 2 . 2 8 I00.00º 57,466.24
SLores & Spares - ImporLed
- I ndigenous
9 . 6 7 %
9 0 . 3 3 %
5 8 . 5 8
5 4 7 . 3 0
7.34º
92.66º
39.58
499.34
1 0 0 . 0 0 % 6 0 5 . 8 8 I00.00º 538.92
(D ) C . I . F . Va lu e o f I m p o rts
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Raw Materials
SLores & Spares
Capital Goods
2 4 , 0 9 8 . 0 7
6 4 . 5 0
4 4 7 . 9 3
25,492.I5
65.II
503.69
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 4 7 1 4 6 | A P O L L O T YR E S L T D
(E ) E x p e n d itu re in F o re ig n C u rre n c y (R e m itte d ) :
(Excluding value ol imporLs)
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
I nterest
Dividend for theyear 2 0 1 3 -1 4 (20I2-I3)*
Royalty
0Lhers (including cross-charge ol P & D expenses and managemenL expenses paid Lo
Foreign Subsidiary Companies).
5 7 7 . 0 7
1 . 4 8
6 . 7 6

1 , 3 2 0 . 9 1
743.82
0.99
I0.44

I,I97.97
* Number ol non-residenL Shareholders ¬ 2 (2), Number ol Shares held by Non residenL Shareholders - 1 , 9 7 8 , 0 0 0
(I,978,000).
1 4 . E a rn in g s in F o re ig n E x c h a n g e (G ro s s )
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
F0B value ol ExporLs
RoyaltyReceived
Cross Charge ol ManagemenL Expenses
PeimbursemenL ol Expenses Peceived
9 , 2 2 2 . 3 1
7 3 . 8 3
5 4 . 7 4
2 0 9 . 2 7
8,I42.28
57.28
28.I0
30.I0
1 5 . D ire c tly a ttrib u ta b le e x p e n s e s c a p ita lize d / in c lu d e d in c a p ita l wo rk in p ro g re s s d u rin g th e ye a r:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Raw Materials Consumed
Salaries, Wages and Bonus
Contribution to Provident and Other Funds
Wellare Expenses
Rent
Travelling, Conveyance and vehicle expenses
PosLage, Telex, Telephone and SLaLionery
Power and Fuel
Legal & Prolessional Expenses
Miscellaneous Expenses
1 0 . 7 6
3 . 3 5
-
4 . 9 4
1 . 4 5
4 . 0 4
0 . 2 0
1 . 6 4
0 . 5 5
0 . 7 2
I5.39
63.86
4.22
4.5I
0.78
4.56
0.26
3.40
0.33
5.I4
T o ta l 2 7 . 6 5 I02.45
16. EmpIoyee Beneñt PIans
Deñned Contribution PIans:
a . S u p e ra n n u a tio n P la n : The Company conLribuLes a sum equivalenL Lo I5º ol Lhe eligible employees salary Lo a
superannuaLion lund adminisLered and mainLained by Lile Insurance CorporaLion ol India (LIC). The Company
has no liabiliLy lor luLure superannuaLion lund benelLs oLher Lhan iLs annual conLribuLion and recognizes such
conLribuLions as an expense in Lhe year incurred. The amounL ol conLribuLion paid by Lhe company Lo SuperannuaLion
Fund is 5 9 . 8 3 M illio n ( 57.I5 Million).
b . P ro vid e n t F u n d : ConLribuLions are made Lo Lhe Company's Employees ProvidenL Fund TrusL f Pegional ProvidenL
Fund in accordance wiLh Lhe lund rules. The inLeresL raLe payable Lo Lhe benelciaries every year is being noLiled by
theGovernment.
In Lhe case ol conLribuLion Lo Lhe TrusL, Lhe Company has an obligaLion Lo make good Lhe shorLlall, il any, beLween
Lhe reLurn lrom Lhe invesLmenLs ol Lhe TrusL and Lhe noLiled inLeresL raLe and recognizes such obligaLion as an
expense.
The amounL ol conLribuLion made by Lhe Company Lo Employees ProvidenL Fund TrusL f Pegional ProvidenL Fund is
2 1 5 . 9 6 M illio n ( I92.37 Million).
Deñned Beneñt PIans:
G ra tu ity
The Company has a delned benelL graLuiLy plan. Every employee who has compleLed lve years or more ol service
receives graLuiLy on leaving Lhe Company aL I5 days salary (lasL drawn salary) lor each compleLed year ol service.
The scheme is lunded wiLh Lile Insurance CorporaLion ol India.
The lollowing Lable summarizes Lhe componenLs ol neL benelL expense recognized in Lhe sLaLemenL ol prolL and
loss and Lhe lunded sLaLus and amounLs recognized in Lhe balance sheeL lor Lhe respecLive plan.
Statement of Proñt and Loss:
Net empIoyee beneñt expenses
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Current servicecost
InLeresL CosL on BenelL 0bligaLion
ExpecLed reLurn on plan asseLs
Curtailment Cost
Settlement Cost
NeL AcLuarial (0ain) f Loss recognized in Lhe year
Expense recognized in Lhe SLaLemenL ol ProlL & Loss
5 6 . 3 9
6 1 . 0 1
(5 7 . 9 5 )
-
-
1 3 8 . 8 0
1 9 8 . 2 5
44.92
48.46
(54.39)
-
-
9.44
48.43

ActuaI Contribution and Beneñt payments for the year
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Actual Contributions
AcLual BenelL PaymenLs
4 8 . 7 2
(8 2 . 6 6 )
45.I8
(65.8I)
B a la n c e S h e e t:
N e t A s s e t / (L ia b ility) re c o g n is e d in th e B a la n c e S h e e t in c lu d in g e x p e rie n c e a d ju s tm e n t im p a c t
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
2 0 1 2 -1 3
M illio n
2 0 1 1 -1 2
M illio n
2 0 1 0 -1 1
M illio n
PresenL value ol delned benelL obligaLion aL
theend of theyear
Fair valueof plan assets at theend of the
year
AsseLf(LiabiliLy) recognized in Lhe balance
sheet
Experience Ad|usLmenL ol obligaLion
- Loss
Experience Ad|usLmenL ol plan asseLs
- 0ain f (Loss)

8 5 2 . 8 0

6 5 4 . 5 5

(1 9 8 . 2 5 )

7 5 . 9 9

(1 . 8 5 )

68I.75

633.32

(48.43)

30.02

(I.43)

646.I7

600.99

(45.I8)

9.36

0.3I

603.76

527.65

(76.II)

42.04

I.75

5I9.73

437.82

(8I.9I)

5I.03

2.36

Changes in the present vaIue of the deñned beneñt obIigation are as foIIows:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Present valueof obligations as at thebeginningof theyear
I nterest cost
Current servicecost
BenelLs paid
Actuarial loss on obligation
Present valueof obligations as at theend of theyear
6 8 1 . 7 5
6 1 . 0 2
5 6 . 3 9
(8 2 . 6 7 )
1 3 6 . 3 1
8 5 2 . 8 0
646.I7
48.46
44.92
(65.8I)
8.0I
68I.75
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 4 9 1 4 8 | A P O L L O T YR E S L T D
C h a n g e s in th e fa ir va lu e o f p la n a s s e ts a re a s fo llo ws :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Fair valueof plan assets as at thebeginningof theyear
ExpecLed reLurn on plan asseLs
Contributions
BenelLs paid
Actuarial gain on plan assets
Fair valueof plan assets as at theend of theyear
6 3 3 . 3 2
5 7 . 9 5
4 8 . 4 4
(8 2 . 6 7 )
(2 . 4 9 )
6 5 4 . 5 5
600.99
54.39
45.I8
(65.8I)
(I.43)
633.32
The Company's graLuiLy lunds are managed by Lhe Lile Insurance CorporaLion ol India and Lherelore Lhe composiLion ol
thefund assets in not presentlyascertained.
P rin c ip a l a c tu a ria l a s s u m p tio n s fo r G ra tu ity:
P A R T I C U L A R S 2 0 1 4 -1 5
R a te (% )
2 0 1 3 -1 4
R a te (% )
a) DiscounL raLe
b) FuLure salary increase*
c) ExpecLed raLe ol reLurn on plan asseLs
8.00
6.00
9.I5
8.95
6.00
9.05
* The esLimaLes ol luLure salary increase Lake inLo accounL inlaLion, senioriLy, promoLion and oLher relevanL lacLors.
EsLimaLed amounL ol conLribuLion in Lhe immediaLe nexL year is 9 8 . 7 2 M illio n ( 68.07 Million).
D e m o g ra p h ic A s s u m p tio n s fo r G ra tu ity:
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
a) PeLiremenL Age (Years) 5 8 58
b) MorLaliLy Table I A L M (2 0 0 6 -0 8 ) IALM (2006-08)
c) Ages With d ra wa l R a te (% ) WiLhdrawal PaLe (º)
Up Lo 30 Years
From 3I Lo 44 Years
Above 44 Years
3 . 0 0
2 . 0 0
1 . 0 0
3.00
2.00
I.00
Dther Long Term EmpIoyee Beneñts:
L o n g T e rm C o m p e n s a te d A b s e n c e s
A c tu a ria l A s s u m p tio n fo r L o n g te rm c o m p e n s a te d a b s e n c e s :
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
a) DiscounL raLe
b) FuLure salary increase*
8 . 0 0
6 . 0 0
8.95
6.00
* The esLimaLes ol luLure salary increase Lake inLo accounL inlaLion, senioriLy, promoLion and oLher relevanL lacLors.
D e m o g ra p h ic A s s u m p tio n s fo r L o n g te rm c o m p e n s a te d a b s e n c e s :
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
a) PeLiremenL Age (Years) 5 8 58
b) MorLaliLy Table I A L M (2 0 0 6 -0 8 ) IALM (2006-08)
c) Ages With d ra wa l R a te (% ) WiLhdrawal PaLe (º)
Up Lo 30 Years
From 3I Lo 44 Years
Above 44 Years
3 . 0 0
2 . 0 0
1 . 0 0
3.00
2.00
I.00
1 7 . E m p lo ye e s S to c k A p p re c ia tio n R ig h ts (E m p lo ye e s P h a n to m S to c k P la n 2 0 1 0 )
a) During Lhe year 20I0-II, Lhe company had announced Cash-seLLled Employee Share-based PaymenL Plan
(PhanLom SLock Plan) lor Lhe eligible employees ol Lhe company. Under Lhe scheme, I,200,000 phanLom sLock uniLs
have been granLed on April I, 20I0, 900,000 PhanLom sLock uniLs have been granLed on April I, 20II and 75,000
UniLs have been granLed on April I, 20I2 by Lhe board appoinLed commiLLee. All Lhree opLions will be vesLed as per
thefollowingschedule:
P e rc e n ta g e o f G ra n t Ve s tin g S c h e d u le
25º
25º
25º
25º
0n IsL anniversary ol respecLive granL daLe
0n 2nd anniversary ol respecLive granL daLe
0n 3rd anniversary ol respecLive granL daLe
0n 4Lh anniversary ol respecLive granL daLe
PursuanL Lo Lhe above scheme, Lhe eligible employees are enLiLled Lo geL cash compensaLion upon exercise ol Lhe
phantomstock unit within seven years of thevestingdate
b) DeLails ol Lhe expense recognized during Lhe year and ouLsLanding phanLom sLock uniLs ol Lhe company under Lhe
PhanLom SLock Plan 20I0 are as under.
P A R T I C U L A R S A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
Dateof Grant
PhantomStock Units Outstanding
PhanLom SLock UniLs exercised
Exercise Price ol Share ( )
MarkeL Price ol Share ( )
Fair value ol Share ( )
Amount charged to Statement of
ProlL & Loss (Included in NoLe -
B I5 - Employee
BenelLs Expense)
LiabiliLy as on 3I.03.20I5 (Includ-
ed in NoLe - B 4 (Trade Payables))
0I.04.20I0
-
I2,00,000
-
-
-

-

-
0I.04.20II
2,9I,250
6,08,750
50.00
I68.25
I26.77

3.09
Million
37.74
Million
0I.04.20I2
75,000
-
50.00
I68.25
I25.76

0.49
Million
8.3I
Million
0I.04.20I0
3,00,000
9,00,000
50.00
I59.30
II6.95

27.24
Million
32.79
Million
0I.04.20II
5,52,500
3,47,500
50.00
I59.30
II7.25

46.I2
Million
54.24
Million
0I.04.20I2
75,000
-
50.00
I59.30
II8.I9

5.I9
Million
6.50
Million
P h a n to m S to c k o u ts ta n d in g u n its s u m m a ry s h e e t is a s fo llo ws -
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 2 -1 3
OpeningPhantomStock Units
Number of Units issued duringtheyear
Number ol UniLs vesLed during Lhe year
ClosingPhantomStock units
9 2 7 , 5 0 0
-
5 6 1 , 2 5 0
3 6 6 , 2 5 0
I,486,250
-
558,750
927,500
2,030,000
75,000
6I8,750
I,486,250
T h e d e ta ils o f Va ria b le s u s e d fo r F a ir Va lu a tio n u n d e r th e B la c k -S c h o le s M o d e l a re g ive n in th e ta b le b e lo w:
G ra n t d a te A p ril 1 , 2 0 1 0
R e m e a s u re m e n t d a te Ve s t1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 1 A p ril 1 , 2 0 1 2 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4
Va ria b le s
SLock Price ( )
The opLions lrom vesL I, vesL 2, vesL 3 and
vesL 4 have been compleLely
exercised and Lherelore don'L
haveto bevalued
volaLiliLy
RiskfreeRate
Exercise Price ( )
Time To MaLuriLy (In Years)
Dividend yield
F a ir Va lu e p e r ve s t ( )
Ve s tin g P e rc e n ta g e
O p tio n F a ir Va lu e ( )
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 5 1 1 5 0 | A P O L L O T YR E S L T D
G ra n t d a te A p ril 1 , 2 0 1 1
R e m e a s u re m e n t d a te Ve s t1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 2 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4 A p ril 1 , 2 0 1 5
Va ria b le s
SLock Price ( )
The opLions lrom vesL I and vesL 2
have been compleLely exercised and
Lherelore don'L have Lo be valued
I68.25 I68.25
volaLiliLy 42.67º 42.67º
RiskfreeRate 7.82º 7.80º
Exercise Price ( ) 50.00 50.00
Time To MaLuriLy (In Years) 3.00 3.5I
Dividend yield 0.86º 0.86º
F a ir Va lu e p e r ve s t ( ) 1 2 7 . 4 0 1 2 6 . 1 4
Ve s tin g P e rc e n ta g e 5 0 % 5 0 %
O p tio n F a ir Va lu e ( ) 1 2 6 . 7 7

G ra n t d a te A p ril 1 , 2 0 1 2
R e m e a s u re m e n t d a te Ve s t1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4 A p ril 1 , 2 0 1 5 A p ril 1 , 2 0 1 6
Va ria b le s
SLock Price ( ) I68.25 I68.25 I68.25 I68.25
volaLiliLy 43.58º 42.52º 42.67º 43.I9º
RiskfreeRate 7.83º 7.82º 7.8Iº 7.80º
Exercise Price ( ) 50.00 50.00 50.00 50.00
Time To MaLuriLy (In Years) 2.50 3.00 3.5I 4.5I
Dividend yield 0.86º 0.86º 0.86º 0.86º
F a ir Va lu e p e r ve s t ( ) 1 2 4 . 0 2 1 2 5 . 0 2 1 2 6 . 0 4 1 2 7 . 9 6
Ve s tin g P e rc e n ta g e 2 5 % 2 5 % 2 5 % 2 5 %
O p tio n F a ir Va lu e ( ) 1 2 5 . 7 6

Phantom Stock Scheme - Proforma Statement of Proñt & Loss and EPS
Had compensaLion cosL lor Lhe PhanLom SLock uniLs granLed under Lhe Scheme been deLermined based on lair value
approach, Lhe Company's neL prolL and earnings per share would have been as per Lhe prolorma amounLs indicaLed
below:
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
Impact on Net Proñt (` M illio n )
NeL ProlL (As reporLed)
Add.- Cash based employee compensaLion expense included in neL prolL
Less.- Cash based compensaLion expense deLermined under lair value based meLhod
(Prolorma)
NeL ProlL (Prolorma)

6 , 4 5 0 . 8 1
3 . 5 8

4 9 . 0 2
6 , 4 0 5 . 3 7

4,426.I9
78.55

70.8I
4,433.93
I m p a c t o n E a rn in g s p e r S h a re ( )
B a s ic
Basic Earnings per Share ol I Each (As reporLed)
Basic Earnings per Share ol I Each (Prolorma)
D ilu te d
DiluLed Earnings per Share ol I Each (As reporLed)
DiluLed Earnings per Share ol I Each (Prolorma)

1 2 . 7 0
1 2 . 6 1

1 2 . 6 9
1 2 . 6 0

8.78
8.80

8.77
8.79
1 8 (a ) T h e c o m p o n e n ts o f D e fe rre d T a x L ia b ility (N e t) a re a s fo llo ws :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
D e fe rre d T a x L ia b ility o n tim in g d iffe re n c e s a ris in g o n :
Depreciation

4 , 4 5 3 . 6 8

4,029.70
S u b T o ta l (A ) 4 , 4 5 3 . 6 8 4,029.70
D e fe rre d T a x A s s e ts o n tim in g d iffe re n c e s a ris in g o n :
PaymenL under volunLary PeLiremenL Scheme
Provision lor 0raLuiLy and Leave EncashmenL
Provision for Doubtful Debts / Advances
Others

2 . 6 0
1 1 3 . 8 7
1 5 . 5 6
1 9 9 . 2 3

3.75
92.74
I5.29
8.47
S u b T o ta l (B ) 3 3 1 . 2 6 I20.25
N e t D e fe rre d T a x L ia b ility (A -B ) 4 , 1 2 2 . 4 2 3,909.45
P A R T I C U L A R S A m o u n t
M illio n
Delerred Tax LiabiliLies as aL March 3I, 20I4
Less. Peversal ol Delerred Tax LiabiliLy relaLing Lo LransiLion ad|usLmenL ol depreciaLion recorded
againsL surplus balance in SLaLemenL ol ProlL and Loss
Add. Delerred Tax LiabiliLies lor Lhe year 20I4-I5
3 , 9 0 9 . 4 5

1 3 2 . 9 4
3 4 5 . 9 1
D e fe rre d T a x L ia b ilitie s a s a t M a rc h 3 1 , 2 0 1 5 4 , 1 2 2 . 4 2
1 8 (b ) The provision lor Lax lor Lhe year has been deLermined based on Lhe provisions oLher Lhan II5dB ol Lhe Income
Tax AcL, I96I. For deLermining Lhe said provision, Lhe Company has considered deducLion under secLion 35 (2AB)
in respecL ol Lhe expendiLure incurred lor iLs P&D acLiviLies in Lhe P&D CenLre aL Chennai. AlLhough Lhe Company's
applicaLion lor Lhe approval ol Lhis cenLer is pending belore DSIP, Lhe Company is conldenL ol obLaining Lhe approval
belore lling Lhe reLurn ol income lor Lhe lnancial year 20I4-I5.
1 9 (a ) Provision lor sales relaLed obligaLions represenLs esLimaLes lor paymenLs Lo be made in luLure. Ma|or porLion ol
Lhese cosLs is esLimaLed Lo be paid in Lhe nexL lnancial year or will be paid wiLhin a maximum ol 3 years lrom Lhe
balancesheet date M illio n
O p e n in g B a la n c e a s a t
A p ril 1 , 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vi-
s io n d u rin g th e ye a r
C lo s in g B a la n c e a s
a t M a rc h 3 1 , 2 0 1 5
1 , 5 0 7 . 7 0 1 , 7 4 5 . 5 4 1 , 5 8 3 . 8 6 1 , 6 6 9 . 3 8
1 9 (b ). The Company carries a general provision lor conLingencies Lowards various claims againsL Lhe company noL
acknowledged as debts M illio n
O p e n in g B a la n c e a s a t
A p ril 1 , 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vi-
s io n d u rin g th e ye a r
C lo s in g B a la n c e a s
a t M a rc h 3 1 , 2 0 1 5
4 2 5 . 0 0 - - 4 2 5 . 0 0
1 9 (c ) Provision for constructiveliabilityarisingon account of leasecontracts up to 7years areas follows
M illio n
O p e n in g B a la n c e a s a t
A p ril 1 , 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vi-
s io n d u rin g th e ye a r
C lo s in g B a la n c e a s
a t M a rc h 3 1 , 2 0 1 5
8 2 . 9 9 3 6 . 3 6 1 8 . 0 4 1 0 1 . 3 1
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 5 3 1 5 2 | A P O L L O T YR E S L T D
2 0 . E x p e n d itu re to wa rd s C o rp o ra te S o c ia l R e s p o n s ib ility (C S R ) A c tivitie s - M illio n
N a tu re o f A c tivitie s I m p le m e n tin g A g e n c y/ P a rtn e r A m o u n t
Promotingpreventivehealth Apollo Tyres FoundaLion 30.96
Ensuring environmenLal susLainabiliLy Apollo Tyres FoundaLion 7.74
Livelihood enhancemenL pro|ecLs Apollo Tyres FoundaLion 3.3I
Pural developmenL pro|ecLs Apollo Tyres FoundaLion 3.85
Promotingeducation Apollo Tyres FoundaLion I.88
Promotingpreventivehealth Zeus ChariLable FoundaLion 3.00
Promotingeducation Zeus ChariLable FoundaLion 3.2I
EradicaLion ol hunger, poverLy & malnuLriLion Zeus ChariLable FoundaLion 0.07
ConLribuLion Lo Corpus ol a TrusL creaLed exclusively lor
undertakingCSR activities

0.I0
5 4 . 1 2
Add. AdminisLraLive CosL _5º 2.70
T o ta l 5 6 . 8 2
AmounL required Lo be spenL ufs I35 ol Lhe Companies AcL, 20I3 8 4 . 7 4
S h o rtfa ll 2 7 . 9 2
2 1 a ) Following are Lhe lorward exchange conLracLs |being derivaLive insLrumenLs], which are noL inLended lor Lrading
or speculaLive purposes buL lor hedge purposes Lo esLablish Lhe amounL ol reporLing currency required or available
aL Lhe seLLlemenL daLe ol cerLain payables and receivables. The lollowing lorward exchange conLracLs enLered inLo
by Lhe Company are ouLsLanding as on March 3I, 20I5. M illio n
C u rre n c y A m o u n t B u y/S e ll C ro s s C u rre n c y
US Dollar 7 4 . 0 0 Buy Rupees
EUP0 6 . 0 0 Sell Rupees
20I3-I4
US Dollar 3I.74 Buy Rupees
EUP0 0.I2 Buy Rupees
The mark Lo markeL losses ol 1 5 0 . 4 9 M illio n (Nil) relaLing Lo undesignaLed f inellecLive lorward conLracLs f
derivaLives has been recognized in Lhe SLaLemenL ol ProlL and Loss AccounL.
b ) No. ol Currency swaps (oLher Lhan lorward exchange conLracLs sLaLed above) Lo hedge againsL lucLuaLions in
changes in exchange raLe are 1 7 (I8).
c ) T h e ye a r-e n d fo re ig n c u rre n c y e x p o s u re s th a t h a ve n o t b e e n h e d g e d b y a d e riva tive in s tru m e n t o r o th e r
wis e a re g ive n b e lo w: M illio n
C u rre n c y A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
Receivable/ Receivable/ Receivable/ Receivable/
(Payable) (Payable) (Payable) (Payable)
I NR FC I NR FC
UAE Dirham (57.0I) (3.3I) 0.32 0.02
Swiss Franc (2.03) (0.03) (0.27) (0.00)
EUP0 26I.02 3.67 4I.30 0.53
British Pound (I25.26) (I.33) (52.60) (0.48)
I ndonesian Rupiah (0.04) (7.25) 0.0I I.75
dapanese Yen 0.05 0.09 (0.0I) (0.03)
Malaysian Ringgit 0.I7 0.0I 0.I7 0.0I
PhilippinePeso 0.23 0.2I 0.23 0.2I
SingaporeDollar 0.23 0.0I 0.23 0.0I
Thai BahL (0.20) (0.II) (0.I7) (0.09)
US Dollar 800.59 I2.66 297.94 4.94
South African Rand 8.25 I.55 I2.80 2.I8
2 2 . The Company's operaLions comprise ol only one business segmenL ¬ AuLomobile Tyres, AuLomobile Tubes &
AuLomobile Flaps in Lhe conLexL ol reporLing businessfgeographical segmenL as required under mandaLory
accounLing sLandards AS -I7 ¨SegmenL PeporLing ¨
The geographical segmenLs considered lor disclosure are - India and PesL ol Lhe world. All Lhe manulacLuring
facilities arelocated in I ndia:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
1 . R e ve n u e b y G e o g ra p h ic a l M a rk e t
I ndia
Rest of theworld

8 0 . 5 3 1 . 3 2
9 , 2 2 2 . 3 1

79,770.I5
8,I39.43
T o ta l 8 9 , 7 5 3 . 6 3 87,909.58
2 . C a rryin g A m o u n t o f S e g m e n t A s s e ts
I ndia
PesL ol Lhe world- exporL DebLors

5 9 , 7 6 0 . 3 2
1 , 4 5 3 . 7 4

60,I47.I0
972.9I
T o ta l 6 1 , 2 1 4 . 0 6 6I,I20.0I
3 . C a p ita l E x p e n d itu re in c u rre d d u rin g th e ye a r
I ndia
Rest of theworld

2 , 7 2 3 . 0 0
-

2,0I2.I6
-
T o ta l 2 , 7 2 3 . 0 0 2,0I2.I6
2 3 . D is c lo s u re o f R e la te d P a rty T ra n s a c tio n s in a c c o rd a n c e with th e m a n d a to ry a c c o u n tin g s ta n d a rd s A S - 1 8
“R e la te d P a rty D is c lo s u re s ”
N a m e o f th e R e la te d P a rtie s
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
S u b s id ia rie s
Apollo (MauriLius) Holdings PvL LLd (AMHPL),
Mauritius
Apollo (MauriLius) Holdings PvL LLd
(AMHPL), MauriLius
Apollo (SouLh Alrica) Holdings (PLy) LLd (ASHPL)
(Subsidiary Lhrough AMHPL), SouLh Alrica
Apollo (SouLh Alrica) Holdings (PLy) LLd
(ASHPL) (Subsidiary Lhrough AMHPL),
South Africa
N.A.
Apollo Tyres SouLh Alrica (PLy) LLd (ATSA)
(Subsidiary Lhrough ASHPL), SouLh Alrica
Apollo Tyres Alrica (PLy) LLd (Subsidiary Lhrough
ASHPL) -NoLe (c)
Apollo Durban (PLy) LLd (ADPL) (Subsidiary
Through ASHPL), SouLh Alrica
UK ATL Holdings LLd. (Subsidiary Lhrough ASHPL),
UniLed Kingdom - NoLe (d)
UK ATL Holdings LLd (Subsidiary Lhrough
ASHPL), UniLed Kingdom
Apollo Tyres Zimbabwe (PvL) LLd. (DZL)
(Subsidiary Lhrough UK ATL Holdings LLd.),
Zimbabwe (NoLe-(d) & (l))
Apollo Tyres (Zimbabwe) (PvL) LLd (DZL)
(Subsidiary Lhrough UK ATL Holdings LLd.),
Zimbabwe
Apollo AcquisiLion Corp. (NoLe - (e)) Apollo AcquisiLion Corp.-NoLe(a)
Padun InvesLmenLs (PvL.) LLd, Zimbabwe
(Subsidiary Lhrough UK ATL Holdings LLd.)- NoLe(d)
Padun InvesLmenLs (PvL) LLd, Zimbabwe
(Subsidiary Lhrough UK ATL Holdings LLd.),
AFS Mining (PvL.) LLd., Zimbabwe (Subsidiary
Lhrough Apollo Tyres Zimbabwe PvL. LLd.)
(NoLe-(d) & (l))
AFS Mining (PvL) LLd, Zimbabwe (Subsidiary
Lhrough Apollo Tyres Zimbabwe PvL LLd),
Apollo Tyres (Cyprus) PvL. LLd ( ATCPL), Cyprus
(Subsidiary Lhrough AMHPL)
Apollo Tyres (Cyprus) PvL LLd ( ATCPL),
Cyprus (Subsidiary Lhrough AMHPL)
Apollo Tyres A0, SwiLzerland (ATA0)
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres A0, SwiLzerland (ATA0)
(Subsidiary Lhrough ATCPL), ATCPL
Apollo Tyres Holdings (Singapore) PLe. LLd,
(ATHS), Singapore (Subsidiary Lhrough Apollo
Coop)
Apollo Tyres Holdings (Singapore) PLe LLd,
(ATHS), Singapore (Subsidiary Lhrough
AMHPL)
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 5 5 1 5 4 | A P O L L O T YR E S L T D
S u b s id ia rie s
Apollo Tyres (LA0) Co. LLd, Lao, PDP
(Subsidiary Lhrough ATHS) - NoLe (e)
Apollo Tyres (LA0) Co. LLd, Lao, PDP
(Subsidiary Lhrough ATHS)
Apollo Tyres (Middle EasL) Fze (ATFZE), Dubai
(Subsidiary Lhrough Apollo Coop) - NoLe (b)
Apollo Tyres (Middle EasL) Fze (ATFZE),
Dubai (Subsidiary Lhrough AMHPL)
Apollo Tyres Co -operaLiel U.A. (Apollo Coop),
NeLherlands (Subsidiary Lhrough AMHPL)
Apollo Tyres Co -operaLiel U.A.
(Apollo Coop), NeLherlands (Subsidiary
Lhrough AMHPL)
Apollo Tyres B.v. (ATBv), NeLherlands
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres B.v. (ATBv), NeLherlands
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres (UK) PvL. LLd (ATUK), UniLed Kingdom
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres (UK) PvL LLd (ATUK), UniLed
Kingdom (Subsidiary Lhrough ATBv)
Apollo Tyres (Brasil) LTDA, Brazil
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres (Brasil) LTDA, Brazil
(Subsidiary Lhrough ATBv)
Apollo Tyres 0lobal P&D B.v., NeLherlands
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres 0lobal P&D B.v., NeLherlands
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres (Thailand) LimiLed, Thailand
(Subsidiary Lhrough Apollo Coop)
Apollo Tyres (Thailand) LimiLed, Thailand
(Subsidiary Lhrough Apollo Coop)
Apollo vredesLein B.v., NeLherlands (AvBv)
(Subsidiary Lhrough ATBv)
Apollo vredesLein B.v., NeLherlands (AvBv)
(Subsidiary Lhrough ATBv)
Apollo Tyres (0reenleld) Co. 0peraLiel U.A.,
NeLherlands - NoLe (a)
N.A.
Apollo Tyres PropvesL (UK) PvL LLd, UniLed
Kingdom (Subsidiary Lhrough ATUK) -NoLe (a)
N.A.
Apollo Tyres (Hungary) KlL, Hungary
(Subsidiary Lhrough ATBv) -NoLe(a)
N.A.
S u b s id ia rie s o f A p o llo Vre d e s te in B . V (A VB V): S u b s id ia rie s o f A p o llo Vre d e s te in B . V
(A VB V):
Apollo vredesLein 0mbH, 0ermany Apollo vredesLein 0mbH, 0ermany (Earlier
known as vredesLein 0mbH, 0ermany)
vredesLein Norge A.S., Norway vredesLein Norge A.S., Norway
Apollo vredesLein U.K. LimiLed, UniLed Kingdom Apollo vredesLein U.K. LimiLed (Earlier
known as vredesLein U.K. LLd.), UniLed
Kingdom
Apollo vredesLein Belux, Belgium Apollo vredesLein Belux (Earlier known as
N.v. vredesLein SA), Belgium
Apollo vredesLein 0esellschalL m.b.H., AusLria Apollo vredesLein 0esmbH (Earlier known
as vredesLein 0esmbH), AusLria
Apollo vredesLein Schweiz A.0., SwiLzerland Apollo vredesLein Schweiz A.0., SwiLzerland
vredesLein Nordic A.B., Sweden vredesLein Nordic A.B.
(Earlier known as vredesLein Deck A.B.),
Sweden
S.C. vredeseLin P.0. Srl, Pomania vredeseLin P.0. Srl, Pomania
Apollo vredesLein Iberica SA, Spain Apollo vredesLein Iberica SA
(Earlier known as vredesLein Iberica S.A),
Spain
Apollo vredesLein Tires Inc., USA Apollo vredesLein Tires Inc. (Earlier known
as vredesLein Tyres NorLh America Inc.,
USA)
Apollo vredesLein KlL, Hungary Apollo vredesLein KlL
(Earlier known as vredesLein KlL), Hungary
Apollo vredesLein Srl, ILaly Apollo vredesLein Srl
(Earlier known as vredesLein ILalia Srl,
ILaly)
S u b s id ia rie s
Apollo vredesLein 0pony Polska Sp. Zo.o., Poland Apollo vredesLein 0pony Polska Sp. Zo.o.
(Earlier known as vredesLein Polska Sp.
Zo.o, Poland)
Apollo vredesLein SAS, France Apollo vredesLein SAS, France (Earlier
Known as verdesLein France S.A., France)
vredesLein ConsulLing B.v.,NeLherlands vredesLein ConsulLing B.v.,NeLherlands
Finlo B.v., NeLherlands Finlo B.v., NeLherlands
vredesLein MarkeLing B.v., NeLherlands vredesLein MarkeLing B.v., NeLherlands
vredesLein MarkeLing B.v. & Co. K0, 0ermany vredesLein MarkeLing AgenLur
(Earlier known as vredesLein MarkeLing
AgenLur B.v. & co. K0), 0ermany
A s s o c ia te s
NaLional Tyre Services LLd, Zimbabwe (NoLe-(d) & (l)) NaLional Tyre Services LLd, Zimbabwe
PressuriLe (PLy) LLd, SouLh Alrica PressuriLe (PLy) LLd, SouLh Alrica
J o in t Ve n tu re s PanAridus LLC, USA PanAridus LLC, USA
C o m p a n ie s in
wh ic h D ire c to rs
a re in te re s te d
Apollo InLernaLional LLd (AIL) Apollo InLernaLional LLd (AIL)
Apollo InLernaLional Trading LLC, Middle EasL Apollo InLernaLional Trading LLC, Middle
EasL
Encorp E Services LLd Encorp E Services LLd
UF0 Moviez India LLd UF0 Moviez India LLd
Landmark Farms & Housing (P) LLd Landmark Farms & Housing (P) LLd
Sunlile Tradelinks (P) LLd Sunlile Tradelinks (P) LLd
Travel Tracks LLd Travel Tracks LLd
Bespoke Tours & Travels LLd Bespoke Tours & Travels LLd
Dusk valley Technologies LLd Dusk valley Technologies LLd
Classic AuLo Tubes LLd Classic AuLo Tubes LLd
PTL EnLerprises LLd (PTL) PTL EnLerprises LLd (PTL)
Apollo FinanceLtd Apollo FinanceLtd
Artemis MedicareServices Ltd Artemis MedicareServices Ltd
ArLemis HealLh Sciences LLd ArLemis HealLh Sciences LLd
Amarchand & Mangaldas & Suresh A Shroll & Co. Amarchand & Mangaldas & Suresh A Shroll
& Co.
d Sagar & AsscociaLes d Sagar & AsscociaLes
Regent Properties Regent Properties
Swaranganga Consultants Pvt. Ltd Swaranganga Consultants Pvt. Ltd
d & S SysLems CorporaLion, U.K. d & S SysLems CorporaLion, U.K.
Sacred HearL InvesLmenL Co. PvL. LLd Sacred HearL InvesLmenL Co. PvL. LLd
Milers Global Pvt. Ltd Milers Global Pvt. Ltd
Apollo FiegeI ntegrated Logistics Pvt. Ltd Apollo FiegeI ntegrated Logistics Pvt. Ltd
K e y
M a n a g e m e n t
P e rs o n n e l
Mr Onkar S Kanwar Mr Onkar S Kanwar
Mr Neera| Kanwar Mr Neera| Kanwar
Mr U S Oberoi Mr U S Oberoi
Mr SunamSarkar Mr SunamSarkar
R e la tive s o f
K e y M a n a g e ria l
P e rs o n n e l
Mr Paa|a Kanwar Mr Paa|a Kanwar

A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 5 7 1 5 6 | A P O L L O T YR E S L T D
N o te s . PelaLed ParLies and Lheir PelaLionships are as idenLiled by Lhe managemenL and relied upon by Lhe AudiLors.
(a) IncorporaLed during Lhe year
(b) As a parL ol group resLrucLuring exercise , enLire share capiLal ol ATA0 has been Lranslerred by ATCPL Lo Apollo
Coop, enLire share capiLal ol ATFZE and ATHS have been Lranslerred by AMHPL Lo Apollo Coop and enLire share
capiLal ol ATH KlL has been Lranslerred by AT0 Coop Lo ATBv.
(c) Name changed during Lhe year.
(d) Sold oll during Lhe year.
(e) Winding up compleLed during Lhe year.
(l) The cosL ol invesLmenL was lully impaired in Lhe prior years.
T ra n s a c tio n s with R e la te d P a rtie s :
F Y 2 0 1 4 -1 5 M illio n
P a rtic u la rs S u b s id ia rie s C o m p a n ie s in
wh ic h
D ire c to rs a re
in te re s te d
K e y M a n a g e -
m e n t P e rs o n n e l
T o ta l
D e s c rip tio n o f T ra n s a c tio n s :
S a le s : F in is h e d G o o d s
Apollo InLl. Trading LLC, Dubai
Apollo I nternational Ltd.
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres (Thailand) LLd.
Apollo Tyres Alrica (PLy) LLd.

I,402.33
784.99
2,462.59
I,337.24

I,034.36
446.98

I,034.36
446.98
I,402.33
784.99
2,462.59
I,337.24
5 , 9 8 7 . 1 5 1 , 4 8 1 . 3 4 7 , 4 6 8 . 4 9
S a le s : R a w M a te ria ls
Classic AuLo Tubes LLd.

5.I8

5 . 1 8
S a le s : S e m i F in is h e d G o o d s
Apollo vredesLein B.v.
Apollo Tyres Alrica (PLy) LLd.

3.I2
I.I5

3.I2
I.I5
4 . 2 7 4 . 2 7
I n ve s tm e n ts M a d e :
Apollo Tyres (0reenleld) Co-operaLiel U.A.

4.05

4 . 0 5
R o ya lty I n c o m e :
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres (Thailand) LLd.
Apollo Tyres Alrica (PLy) LLd.

8.I9
35.93
29.72

8.I9
35.93
29.72
7 3 . 8 4 7 3 . 8 4
C ro s s C h a rg e o f M a n a g e m e n t & O th e r
E x p e n s e s R e c e ive d # :
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres 0lobal P & D B.v.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres (Thailand) LLd.
PTL EnLerprises LLd.
Classic AuLo Tubes LLd.
Apollo Tyres Alrica (PLy) LLd.
Artemis MedicareServices Ltd.

40.77
I.40
2.03
3.45
I.62

5.46

4.45
I.78

0.60

40.77
I.40
2.03
3.45
I.62
4.45
I.78
5.46
0.60
5 4 . 7 3 6 . 8 3 6 1 . 5 6
R e n t R e c e ive d :
PTL EnLerprises LLd.
Bespoke Tours & Travels LLd.
Classic AuLo Tubes LLd.

0.I2
I.23
0.II

0.I2
I.23
0.II
1 . 4 6 1 . 4 6
R e im b u rs e m e n t o f E x p e n s e s R e c e ive d :
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres 0lobal P & D B.v.
Apollo Tyres (Thailand) LLd.
Apollo Tyres (UK) PvL. LLd.
Classic AuLo Tubes LLd.
Apollo Tyres Alrica (PLy) LLd.
PTL EnLerprises LLd.
Apollo I nternational Ltd.
Apollo Tyres (Hungary) KlL

I24.79
3.79
22.25
I.90
4.96

4.63

46.96

8.23

2.98
3.23

I24.79
3.79
22.25
I.90
4.96
8.23
4.63
2.98
3.23
46.96
2 0 9 . 2 8 1 4 . 4 4 2 2 3 . 7 2
F re ig h t & I n s u ra n c e re c o ve re d :
Apollo I nternational Ltd.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres (Thailand) LLd.
Apollo Tyres Alrica (PLy) LLd.
Apollo vredesLein B.v.

20.86
34.23
46.44
78.23

0.02

0.02
20.86
34.23
46.44
78.23
1 7 9 . 7 6 0 . 0 2 1 7 9 . 7 8
R o ya lty P a id :
Apollo Tyres A0, SwiLzerland

8.86

8 . 8 6
P u rc h a s e s :
Apollo vredesLein B.v.
Classic AuLo Tubes LLd.

I2I.74

548.94

I2I.74
548.94
1 2 1 . 7 4 5 4 8 . 9 4 6 7 0 . 6 8
C le a rin g C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt. Ltd.

39.94

3 9 . 9 4
Wa re h o u s e M a n a g e m e n t C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt. Ltd.

53.I6

5 3 . 1 6
L e g a l a n d P ro fe s s io n a l C h a rg e s P a id :
Amarchand &Mangaldas &Suresh AShroll &Co.
d Sagar & AssociaLes

9.50
6.70

9.50
6.70
1 6 . 2 0 1 6 . 2 0
R e im b u rs e m e n t o f E x p e n s e s p a id :
Apollo vredesLein B.v.
Apollo Tyres (Thailand) LLd.
Apollo Tyres (Middle EasL) Fze.
Apollo (MauriLius) Holdings PvL. LLd.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres 0lobal P & D B.v.
Apollo vredesLein Tires Inc.
PTL EnLerprises LLd.
Classic AuLo Tubes LLd.

3.90
5.47
8.23
2.95
26.95
0.04
0.25

445.07
226.04

3.90
5.47
8.23
2.95
26.95
0.04
0.25
445.07
226.04
4 7 . 7 9 6 7 1 . 1 1 7 1 8 . 9 0
P a ym e n t fo r S e rvic e s R e c e ive d :
Artemis MedicareServices Ltd.
Classic AuLo Tubes LLd.

II.46
0.42

II.46
0.42
1 1 . 8 8 1 1 . 8 8
C ro s s C h a rg e o f R & D E x p e n s e s p a id :
Apollo Tyres 0lobal P & D B.v.

555.65

5 5 5 . 6 5
C ro s s C h a rg e o f O th e r E x p e n s e s p a id :
Apollo Tyres (U.K.) PvL. LLd.

468.27

4 6 8 . 2 7
L e a s e R e n t p a id :
PTL EnLerprises LLd.

400.00

4 0 0 . 0 0
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 5 9 1 5 8 | A P O L L O T YR E S L T D
R e n t P a id :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Classic AuLo Tubes LLd.
Milers Global Pvt. Ltd.

23.43
24.00
2I.60
0.I2
3.00

23.43
24.00
2I.60
0.I2
3.00
7 2 . 1 5 7 2 . 1 5
C o n ve rs io n c h a rg e s P a id :
Classic AuLo Tubes LLd.

968.20

9 6 8 . 2 0
M ix in g C h a rg e s P a id :
Classic AuLo Tubes LLd.

247.56

2 4 7 . 5 6
T ra ve llin g E x p e n s e s P a id :
Bespoke Tours & Travels LLd.

3I7.58

3I7.58
C o n fe re n c e E x p e n s e s :
Bespoke Tours & Travels LLd.

220.55

2 2 0 . 5 5
C o m m s s io n o n S a le s p a id :
Apollo Tyres (Thailand) LLd.
Apollo Tyres (Middle EasL) Fze.

5.39
50.44

5.39
50.44
5 5 . 8 3 5 5 . 8 3
M a n a g e ria l R e m u n e ra tio n :
Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar

4I7.I0
273.00
7.0I
4I.82

4I7.I0
273.00
7.0I
4I.82
7 3 8 . 9 3 7 3 8 . 9 3
A m o u n t O u ts ta n d in g :
T ra d e P a ya b le :
Apollo Tyres A0, SwiLzerland
Apollo vredesLein B.v.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres 0lobal P&D
Apollo Tyres (Middle EasL) Fze.
Bespoke Tours & Travels LLd.
Classic AuLo Tubes LLd.
Apollo (MauriLius) Holdings PvL. LLd.
Apollo Tyres (Thailand) LLd.
Artemis MedicareServices Ltd.
Amarchand & Mangaldas & Suresh A Shroll & Co.

2.03
22.57
I38.44
I35.64
69.99

433.58
3.2I

6.08
25.38

0.I5
0.06

2.03
22.57
I38.44
I35.64
69.99
6.08
25.38
433.58
3.2I
0.I5
0.06
8 0 5 . 4 6 3 1 . 6 7 8 3 7 . 1 3
O th e r C u rre n t L ia b ilitie s :
Apollo vredesLein B.v.
Apollo vredesLein Tires Inc.
Classic AuLo Tubes LLd.

4.32
0.06

43.I5

4.32
0.06
43.I5
4 . 3 8 4 3 . 1 5 4 7 . 5 3
L o n g T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd.
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Milers Global Pvt. Ltd.
Classic AuLo Tubes LLd.

400.00
5.86
6.00
5.40
0.75
79.60

400.00
5.86
6.00
5.40
0.75
79.60
4 9 7 . 6 1 4 9 7 . 6 1
T ra d e R e c e iva b le :
Apollo vredesLein B.v.
Apollo Tyers Alrica(PLy) LLd.
Apollo Tyres (Middle EasL) Fze.
Classic AuLo Tubes LLd.
Apollo I nternational Ltd.
Apollo Tyres 0lobal P&D
Apollo Tyres (Thailand) LLd.

2I9.07
505.62
8I.I0

I.54
I85.9I

7.89
I05.60

2I9.07
505.62
8I.I0
7.89
I05.60
I.54
I85.9I
9 9 3 . 2 4 1 1 3 . 4 9 1 , 1 0 6 . 7 3
S h o rt T e rm L o a n s & A d va n c e s :
Apollo Tyres Alrica (PLy) LLd.
Apollo vredesLein B.v.
PTL EnLerprises LLd.
Travel Tracks LLd.
Classic AuLo Tubes LLd.
Apollo FiegeI ntegrated Logistics Pvt. Ltd.
Apollo FinanceLtd.
Apollo Tyres (Hungary) KlL

7.33
35.80

46.96

3I.84
0.0I
I0.I0
0.49
3.24

7.33
35.80
3I.84
0.0I
I0.I0
0.49
3.24
46.96
9 0 . 0 9 4 5 . 6 8 1 3 5 . 7 7
T ra n s a c tio n s with R e la te d P a rtie s :
F Y 2 0 1 3 -1 4 M illio n
P a rtic u la rs S u b s id ia rie s C o m p a n ie s in
wh ic h
D ire c to rs a re
in te re s te d
K e y M a n a g e -
m e n t P e rs o n n e l
T o ta l
D e s c rip tio n o f T ra n s a c tio n s :
S a le s : F in is h e d G o o d s
Apollo InLl. Trading LLC, Dubai
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres (Thailand) LLd.
Apollo Durban (PLy) LLd.

I,052.59
I,359.33
980.87
I,700.97
254.I9

I,3II.47

I,3II.47
I,052.59
I,359.33
980.87
I,700.97
254.I9
5 , 3 4 7 . 9 5 1 , 3 1 1 . 4 7 6 , 6 5 9 . 4 2
S a le s : R a w M a te ria ls
Classic AuLo Tubes LLd

3I.48

3 1 . 4 8
S a le s : S e m i F in is h e d G o o d s
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo vredesLein B.v.
Apollo Durban (PLy) LLd.

I.28
2.38
0.92

I.28
2.38
0.92
4 . 5 8 4 . 5 8
I n ve s tm e n ts M a d e :
Apollo (MauriLius) Holdings PvL. LLd.

383.97

3 8 3 . 9 7
R o ya lty I n c o m e :
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres (Thailand) LLd.
Apollo Durban (PLy) LLd.

I4.04
I0.42
23.43
9.40

I4.04
I0.42
23.43
9.40
5 7 . 2 9 5 7 . 2 9
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 6 1 1 6 0 | A P O L L O T YR E S L T D
C ro s s C h a rg e o f M a n a g e m e n t & O th e r E x -
p e n s e s R e c e ive d # :
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres 0lobal P & D B.v.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres (Thailand) LLd.
PTL EnLerprises LLd.
Classic AuLo Tubes LLd.
Apollo Durban (PLy) LLd.
Artemis MedicareServices Ltd.

I0.65
6.87
0.37
I.87
0.28
3.I5

4.9I

3.38
I.78

0.60

I0.65
6.87
0.37
I.87
0.28
3.I5
3.38
I.78
4.9I
0.60
2 8 . 1 0 5 . 7 6 3 3 . 8 6
R e n t R e c e ive d :
PTL EnLerprises LLd.
Bespoke Tours & Travels LLd.
Classic AuLo Tubes LLd.

0.I2
I.23
0.II

0.I2
I.23
0.II
1 . 4 6 1 . 4 6
R e im b u rs e m e n t o f E x p e n s e s R e c e ive d :
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo vredesLein B.v.
Apollo Tyres (Middle EasL) Fze.
Apollo Tyres B.v,
Apollo Tyres 0lobal P & D B.v.
Apollo Tyres (Thailand) LLd.
Apollo Tyres (UK) PvL. LLd.
Classic AuLo Tubes LLd.
Apollo Durban (PLy) LLd.

4.22
6.53
3.52
I.56
9.95
0.80
2.93

0.59

26.73

4.22
6.53
3.52
I.56
9.95
0.80
2.93
26.73
0.59
3 0 . 1 0 2 6 . 7 3 5 6 . 8 3
R o ya lty P a id :
Apollo Tyres A0, SwiLzerland

7.83

7 . 8 3
P u rc h a s e s :
Apollo vredesLein B.v.
PTL EnLerprises LLd.
Classic AuLo Tubes LLd.

56.58

0.06
307.53

56.58
0.06
307.53
5 6 . 5 8 3 0 7 . 5 9 3 6 4 . 1 7
C le a rin g C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt. Ltd.

8I.38

8 1 . 3 8
Wa re h o u s e M a n a g e m e n t C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt. Ltd.

27.I0

2 7 . 1 0
L e g a l a n d P ro fe s s io n a l C h a rg e s P a id :
Amarchand &Mangaldas &Suresh AShroll &Co.
d Sagar & AssociaLes

4.58
20.25

4.58
20.25
2 4 . 8 3 2 4 . 8 3
R e im b u rs e m e n t o f E x p e n s e s p a id :
Apollo vredesLein B.v.
Apollo Tyres SouLh Alrica (PLy) LLd.
Apollo Tyres (Middle EasL) Fze.
Apollo (MauriLius) Holdings PvL. LLd.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres 0lobal P & D B.v.
PTL EnLerprises LLd.
Classic AuLo Tubes LLd.

40.45
0.I6
9.32
430.63
I9.63
0.50

420.73
I46.72

40.45
0.I6
9.32
430.63
I9.63
0.50
420.73
I46.72
5 0 0 . 6 9 5 6 7 . 4 5 1 , 0 6 8 . 1 4
P a ym e n t fo r S e rvic e s R e c e ive d :
Artemis MedicareServices Ltd.

I0.52

1 0 . 5 2
C ro s s C h a rg e o f R & D E x p e n s e s p a id :
Apollo Tyres 0lobal P & D B.v.

438.2I

4 3 8 . 2 1
C ro s s C h a rg e o f O th e r E x p e n s e s p a id :
Apollo Tyres (U.K.) PvL. LLd.

28I.I6

2 8 1 . 1 6
L e a s e R e n t p a id :
PTL EnLerprises LLd.

400.00

4 0 0 . 0 0
R e n t P a id :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Classic AuLo Tubes LLd.
Milers Global Pvt. Ltd.

23.43
24.00
2I.60
0.I2
3.00

23.43
24.00
2I.60
0.I2
3.00
7 2 . 1 5 7 2 . 1 5
C o n ve rs io n c h a rg e s P a id :
Classic AuLo Tubes LLd.

I,0I7.6I

1 , 0 1 7 . 6 1
M ix in g C h a rg e s P a id :
Classic AuLo Tubes LLd.

3I8.4I

3 1 8 . 4 1
T ra ve llin g E x p e n s e s P a id :
Travel Tracks LLd.
Bespoke Tours & Travels LLd.

I.34
2I7.72

I.34
2I7.72
2 1 9 . 0 6 2 1 9 . 0 6
C o n fe re n c e E x p e n s e s :
Bespoke Tours & Travels LLd.

202.60

2 0 2 . 6 0
S e c u rity D e p o s its G ive n :
Milers Global Pvt. Ltd.

0.75

0 . 7 5
R e fu n d o f S e c u rity D e p o s its :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties

64.43
66.00
59.40

64.43
66.00
59.40
1 8 9 . 8 3 1 8 9 . 8 3
M a n a g e ria l R e m u n e ra tio n :
Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar

304.08
I42.I2
I0.33
38.45

304.08
I42.I2
I0.33
38.45
4 9 4 . 9 8 4 9 4 . 9 8
A m o u n t O u ts ta n d in g :
T ra d e P a ya b le :
Apollo Tyres A0, SwiLzerland
Apollo vredesLein B.v.
Apollo Tyres (UK) PvL. LLd.
Apollo Tyres 0lobal P&D
Apollo Tyres (Middle EasL) Fze.
Travel Tracks LLd.
Classic AuLo Tubes LLd.
Apollo (MauriLius) Holdings PvL. LLd.
Apollo Tyres (Thailand) LLd.
Apollo FiegeI ntegrated Logistics Pvt. Ltd.

0.26
2.I7
II6.35
77.36
6.92

430.63
0.33

(0.0I)
22.27

9.39

0.26
2.I7
II6.35
77.36
6.92
(0.0I)
22.27
430.63
0.33
9.39
6 3 4 . 0 2 3 1 . 6 5 6 6 5 . 6 7
O th e r C u rre n t L ia b ilitie s :
Apollo vredesLein B.v.
Apollo I nternational Ltd.
Classic AuLo Tubes LLd.

I.20

0.I0
4.38

I.20
0.I0
4.38
1 . 2 0 4 . 4 8 5 . 6 8
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 6 3 1 6 2 | A P O L L O T YR E S L T D
L o n g T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd.
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Milers Global Pvt. Ltd.
Classic AuLo Tubes LLd.

400.00
5.86
6.00
5.40
0.75
I23.89

400.00
5.86
6.00
5.40
0.75
I23.89
5 4 1 . 9 0 5 4 1 . 9 0
T ra d e R e c e iva b le :
Apollo vredesLein B.v.
Apollo Durban (PLy) LLd.
Apollo Tyres (Middle EasL) Fze.
Classic AuLo Tubes LLd.
Apollo I nternational Ltd.

I86.30
I22.69
I09.76

2.4I
0.0I

I86.30
I22.69
I09.76
2.4I
0.0I
Apollo InLl. Trading LLC, Dubai
Apollo Tyres (Thailand) LLd.

34I.03
I55.62 I55.62
34I.03
7 5 9 . 7 8 1 5 8 . 0 4 9 1 7 . 8 2
S h o rt T e rm L o a n s & A d va n c e s :
Apollo Durban (PLy) LLd.
Apollo vredesLein B.v.
Apollo Tyres B.v. LLd.
Apollo Tyres (Thailand) LLd.
PTL EnLerprises LLd.
Bespoke Tours & Travels LLd.
Classic AuLo Tubes LLd.
Artemis MedicareServices Ltd.

I2.80
4.08
I0.70
25.02

43.24
33.83
2.97
0.59

I2.80
4.08
I0.70
25.02
43.24
33.83
2.97
0.59
5 2 . 6 0 8 0 . 6 3 1 3 3 . 2 3
# Cross Charge ol ManagemenL Expenses Peceived includes recovery ol salary ad|usLed in Employee BenelL Expenses
5 4 . 7 3 M illio n ( 24.86 Million)
2 4 . D is c lo s u re re q u ire d b y C la u s e 3 2 o f th e lis tin g a g re e m e n t re g a rd in g th e re la te d p a rtie s :
A m o u n t o f L o a n s /A d va n c e s in th e n a tu re o f lo a n s o u ts ta n d in g fro m S u b s id ia rie s a n d C o m p a n ie s in wh ic h
D ire c to rs a re in te re s te d :
M illio n
P A R T I C U L A R S
O u ts ta n d in g a s a t
th e e n d o f th e ye a r
M a x im u m a m o u n t
O u ts ta n d in g d u rin g
th e ye a r
I n ve s tm e n ts in
s h a re s o f th e
C o m p a n y
S U B S I D I A R I E S
A p o llo (M a u ritiu s ) H o ld in g s P vt. L td . (A M H P L )
2 0 1 4 -1 5 - - -
20I3-I4 - - 383.98
C o m p a n ie s in wh ic h d ire c to rs a re in te re s te d
P T L E n te rp ris e s L td . (P T L )
2 0 1 4 -1 5 (T ra d e a d va n c e ) 3 1 . 8 4 3 1 . 8 4 -
20I3-I4 (Trade advance) 43.24 43.24 -
2 5 . O p e ra tin g L e a s e
The Company has acquired asseLs under Lhe operaLing lease agreemenLs LhaL are renewable on a periodic basis aL
Lhe opLion ol boLh Lhe lessor and lessee. PenLal expenses under Lhose leases were 4 0 0 M illio n ( 400 Million).
0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
The schedule ol luLure minimum lease paymenLs in respecL ol non-cancellable operaLing leases is seL ouL below.
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
WiLhin one year ol Lhe balance sheeL daLe
Due in a period beLween one year and lve years
Due alLer lve years
4 0 0 . 0 0
2 , 0 0 0 . 0 0
4 0 0 . 0 0
400.00
2,000.00
800.00
2 6 . F in a n c e L e a s e - D e fe rre d P a ym e n t C re d it
The Company has enLered inLo lnance lease arrangemenLs lor cerLain AsseLs. The schedule ol luLure minimum
leasepayments in respect of non-cancelableFinanceleases is set out below:
M illio n
P A R T I C U L A R S T o ta l M in im u m L e a s e
P a ym e n ts
P re s e n t Va lu e o f L e a s e
P a ym e n ts
2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4
WiLhin one year ol Lhe balance sheeL daLe
Due in a period beLween one year and lve years
Due alLer Five Years
ToLal
Less: FutureFinanceCharges
PresenL value ol Minimum Lease PaymenLs
6 8 . 3 1
1 0 1 . 7 5
4 5 . 2 1
2 1 5 . 2 7
(4 3 . 5 1 )
1 7 1 . 7 6
68.88
I56.52
52.65
278.05
(58.II)
2I9.94
5 6 . 1 2
7 9 . 6 7
3 5 . 9 7
1 7 1 . 7 6
52.5I
I27.0I
40.42
2I9.94
2 7 . I n te re s t in J o in t Ve n tu re s – The Company has inLeresLs in Lhe lollowing doinL ConLrolled EnLiLy (dCE).
N a m e o f J o in t Ve n tu re a n d
C o u n try o f I n c o rp o ra tio n
% o f in te re s t A m o u n t o f in te re s t b a s e d o n a c c o u n ts
A s s e ts L ia b ilitie s I n c o m e E x p e n d itu re C o n tin g e n t
lia b ilitie s
C a p ita l c o m -
m itm e n ts
P a n A rid u s L L C . U S A
A s o n M a rc h 3 1 , 2 0 1 5
As on March 3I, 20I4

5 0
50

1 8 . 9 2
I8.22

1 8 . 9 2
I8.22

4 3 . 2 2
0.90

6 4 . 6 4
55.70

N il
Nil

N il
Nil
2 8 . E a rn in g s P e r S h a re (E P S ) – T h e n u m e ra to r a n d d e n o m in a to r u s e d to c a lc u la te B a s ic a n d D ilu te d E a rn in g s P e r
S h a re :
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
B a s ic & D ilu te d e a rn in g s p e r s h a re
ProlL aLLribuLable Lo Lhe equiLy shareholders used as numeraLor
( Million) - (A)
The weighLed average number ol equiLy shares ouLsLanding during Lhe year lor
Basic EPS - (B)
Add . EllecL ol WarranLs which are diluLive
The weighLed average number ol equiLy shares ouLsLanding during Lhe year lor
DiluLed EPS - (C)
Basic earnings per share ( ) ¬ (A) f (B) (Face value ol I each)
DiluLed earnings per share ( ) ¬ (A) f (C) (Face value ol I each)

6 , 4 5 0 . 8 1

5 0 7 , 9 4 2 , 5 7 8
4 4 1 , 0 5 8

5 0 8 , 3 8 3 , 6 3 6
1 2 . 7 0
1 2 . 6 9

4,426.I9

504,024,770
649,I02

504,673,872
8.78
8.77
2 9 . Previous year's lgures have been regrouped f reclassiled wherever necessary Lo correspond wiLh Lhe currenL
year's classilcaLion f disclosure.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 6 5 1 6 4 | A P O L L O T YR E S L T D
C O N S O L I D A T E D A C C O U N T S
I N D E P E N D E N T A U D I T O R ’S R E P O R T
T O T H E M E M B E R S O F A P O L L O T YR E S L T D .
R e p o rt o n C o n s o lid a te d F in a n c ia l S ta te m e n ts
We have audiLed Lhe accompanying ConsolidaLed Financial SLaLemenLs ol AP0LL0 TYPES LTD. (hereinalLer relerred
Lo as ¨Lhe Holding Company") and iLs subsidiaries (Lhe Holding Company and iLs subsidiaries LogeLher relerred Lo as
¨Lhe 0roup") an associaLe and a |oinLly conLrolled enLiLy, comprising ol Lhe ConsolidaLed Balance SheeL as aL March 3I,
20I5, Lhe ConsolidaLed SLaLemenL ol ProlL and Loss, Lhe ConsolidaLed Cash Flow SLaLemenL lor Lhe year Lhen ended,
and a summary ol Lhe signilcanL accounLing policies and oLher explanaLory inlormaLion (hereinalLer relerred Lo as ¨Lhe
ConsolidaLed Financial SLaLemenLs")
M a n a g e m e n t’s R e s p o n s ib ility fo r th e C o n s o lid a te d F in a n c ia l S ta te m e n ts
The Holding Company's Board ol DirecLors is responsible lor Lhe preparaLion ol Lhese ConsolidaLed Financial SLaLemenLs
in Lerms ol Lhe requiremenLs ol Lhe Companies AcL, 20I3 (hereinalLer relerred Lo as ¨Lhe AcL") LhaL give a Lrue and
lair view ol Lhe consolidaLed lnancial posiLion, consolidaLed lnancial perlormance and consolidaLed cash lows ol
Lhe 0roup including iLs associaLe and |oinLly conLrolled enLiLy in accordance wiLh Lhe accounLing principles generally
accepLed in India, including Lhe AccounLing SLandards, speciled under SecLion I33 ol Lhe AcL, read wiLh Pule 7 ol Lhe
Companies (AccounLs) Pules, 20I4. The respecLive Board ol DirecLors ol Lhe Companies included in Lhe 0roup and ol
iLs associaLe and |oinLly conLrolled enLiLy are responsible lor mainLenance ol adequaLe accounLing records in accordance
with theprovisions of theAct for safeguardingtheassets of theGroup and for preventingand detectingfrauds and other
irregulariLies, Lhe selecLion and applicaLion ol appropriaLe accounLing policies, making |udgemenLs and esLimaLes LhaL
are reasonable and prudenL, and Lhe design, implemenLaLion and mainLenance ol adequaLe inLernal lnancial conLrols,
that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to
Lhe preparaLion and presenLaLion ol Lhe lnancial sLaLemenLs LhaL give a Lrue and lair view and are lree lrom maLerial
misstatement, whether dueto fraud or error, which havebeen used for thepurposeof preparation of theConsolidated
Financial SLaLemenLs by Lhe DirecLors ol Lhe Holding Company, as aloresaid.
A u d ito r’s R e s p o n s ib ility
0ur responsibiliLy is Lo express an opinion on Lhese ConsolidaLed Financial SLaLemenLs based on our audiL. While
conducting the audit, we have taken into account the provisions of the Act, the accounting and auditing standards
and maLLers which are required Lo be included in Lhe audiL reporL under Lhe provisions ol Lhe AcL and Lhe Pules made
thereunder.
We conducLed our audiL in accordance wiLh Lhe SLandards on AudiLing speciled under SecLion I43(I0) ol Lhe AcL.
Those sLandards require LhaL we comply wiLh eLhical requiremenLs and plan and perlorm Lhe audiL Lo obLain reasonable
assuranceabout whether theConsolidated Financial Statements arefreefrommaterial misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the
ConsolidaLed Financial SLaLemenLs. The procedures selecLed depend on Lhe audiLor's |udgemenL, including Lhe
assessment of the risk of material misstatement of the Consolidated Financial Statements, whether due to
lraud or error. In making Lhose risk assessmenLs, Lhe audiLor considers inLernal lnancial conLrol relevanL Lo Lhe
Holding Company's preparaLion ol Lhe ConsolidaLed Financial SLaLemenLs LhaL give a Lrue and lair view in order Lo
design audiL procedures LhaL are appropriaLe in Lhe circumsLances buL noL lor Lhe purpose ol expressing an opinion
on wheLher Lhe Holding Company has an adequaLe inLernal lnancial conLrols sysLem over lnancial reporLing in place
and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the
accounLing policies used and Lhe reasonableness ol Lhe accounLing esLimaLes made by Lhe Holding Company's
Board of Directors, as well as evaluatingtheoverall presentation of theConsolidated Financial Statements.
We believe LhaL Lhe audiL evidence obLained by us and Lhe audiL evidence obLained by Lhe oLher audiLors in Lerms ol Lheir
reporLs relerred Lo in sub-paragraph (a) ol Lhe oLher maLLers paragraph below, is sullcienL and appropriaLe Lo provide a
basis for our audit opinion on theConsolidated Financial Statements.
O p in io n
In our opinion and Lo Lhe besL ol our inlormaLion and according Lo Lhe explanaLions given Lo us, Lhe aloresaid ConsolidaLed
Financial SLaLemenLs give Lhe inlormaLion required by Lhe AcL in Lhe manner so required and give a Lrue and lair view in
conformitywith theaccountingprinciples generallyaccepted in I ndia, of theconsolidated stateof affairs of theGroup,
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 6 7 1 6 6 | A P O L L O T YR E S L T D
iLs associaLe and |oinLly conLrolled enLiLy as aL March 3I, 20I5, and Lheir consolidaLed prolL and Lheir consolidaLed cash
lows lor Lhe year ended on LhaL daLe.
O th e r M a tte rs
We did noL audiL Lhe lnancial sLaLemenLs ol 35 subsidiaries, whose lnancial sLaLemenLs relecL LoLal asseLs ol
32,487.80 Million as aL March 3I, 20I5, LoLal revenues ol 44,692.74 Million and neL cash lows amounLing Lo
4,470.7I Million lor Lhe year ended on LhaL daLe, as considered in Lhe ConsolidaLed Financial SLaLemenLs. The
ConsolidaLed Financial SLaLemenLs also include Lhe 0roup's share ol neL prolL ol Nil for the year ended March
3I, 20I5, as considered in Lhe ConsolidaLed Financial SLaLemenLs, in respecL ol one associaLe, whose lnancial
sLaLemenLs have noL been audiLed by us. These lnancial sLaLemenLs have been audiLed by oLher audiLors whose
reports have been furnished to us by the Management and our opinion on the Consolidated Financial Statements, in
so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate, and our
reporL in Lerms ol sub-secLions (3) and (II) ol SecLion I43 ol Lhe AcL, in so lar as iL relaLes Lo Lhe aloresaid subsidiaries
and associateis based solelyon thereports of theother auditors.
The resulLs ol subsidiaries based in Zimbabwe have noL been consolidaLed in accordance wiLh paragraph II ol Lhe
AccounLing SLandard 2I (ConsolidaLed Financial SLaLemenLs) as speciled under SecLion I33 ol Lhe AcL, read wiLh Pule 7
ol Lhe Companies (AccounLs) Pules, 20I4.
0ur opinion on Lhe ConsolidaLed Financial SLaLemenLs, and our reporL on oLher legal and regulaLory requiremenLs below,
is noL modiled in respecL ol Lhe above maLLers wiLh respecL Lo our reliance on Lhe work done and Lhe reporLs ol Lhe oLher
auditors.
R e p o rt o n O th e r L e g a l a n d R e g u la to ry R e q u ire m e n ts
I. As required by Lhe Companies (AudiLor's PeporL) 0rder, 20I5 (¨Lhe 0rder"), issued by Lhe CenLral 0overnmenL ol
India in Lerms ol sub-secLion (II) ol SecLion I43 ol Lhe AcL, based on Lhe commenLs in Lhe audiLor's reporL ol Lhe
Holding Company, we give in Lhe Annexure a sLaLemenL on Lhe maLLers speciled in paragraphs 3 and 4 ol Lhe 0rder,
Lo Lhe exLenL applicable. The Holding Company does noL have any subsidiary companies, associaLes and |oinLly
controlled entities incorporated in I ndia.
2. As required by SecLion I43(3) ol Lhe AcL, we reporL, Lo Lhe exLenL applicable LhaL.
a) We have soughL and obLained all Lhe inlormaLion and explanaLions which Lo Lhe besL ol our knowledge and beliel
werenecessaryfor thepurposes of our audit of theaforesaid Consolidated Financial Statements.
b) In our opinion, proper books ol accounL, as required by Lhe law relaLing Lo preparaLion ol Lhe aloresaid
ConsolidaLed Financial SLaLemenLs, have been kepL so lar as iL appears lrom our examinaLion ol Lhose books and
reports of theother auditors.
c) The consolidaLed balance sheeL, Lhe consolidaLed sLaLemenL ol prolL and loss, and Lhe consolidaLed cash low
statement dealt with by this report are in agreement with the relevant books of account, maintained for the
purposeof preparation of theConsolidated Financial Statements.
d) In our opinion, Lhe aloresaid ConsolidaLed Financial SLaLemenLs comply wiLh Lhe AccounLing SLandards
speciled under SecLion I33 ol Lhe AcL, read wiLh Pule 7 ol Lhe Companies (AccounLs) Pules, 20I4.
e) 0n Lhe basis ol Lhe wriLLen represenLaLions received lrom Lhe direcLors ol Lhe Holding Company as on March
3I, 20I5 Laken on record by Lhe Board ol DirecLors ol Lhe Holding Company, none ol Lhe direcLors ol Lhe Holding
Company is disqualiled as on March 3I, 20I5 lrom being appoinLed as a direcLor in Lerms ol SecLion I64(2) ol
Lhe AcL. The Holding Company does noL have any subsidiary companies, associaLes and |oinLly conLrolled
entities incorporated in I ndia.
l) WiLh respecL Lo oLher maLLers Lo be included in Lhe AudiLor's reporL in accordance wiLh Pule II ol Lhe Companies
(AudiL and AudiLors') Pules 20I4, in our opinion and Lo Lhe besL ol our inlormaLion and according Lo Lhe
explanaLions given Lo us.
i) The ConsolidaLed Financial SLaLemenLs disclose Lhe impacL ol pending liLigaLions on Lhe consolidaLed lnancial
posiLion ol Lhe 0roup, iLs associaLe and |oinLly conLrolled enLiLy.
ii) Provision has been made in Lhe ConsolidaLed Financial SLaLemenLs, as required under Lhe applicable law or
accounting standards for material foreseeable losses, if any, on long-term contracts including derivative
contracts.
iii) There has been no delay in Lranslerring amounLs, required Lo be Lranslerred, Lo Lhe InvesLor EducaLion and
ProLecLion Fund by Lhe Holding Company oLher Lhan 3.60 Million (Previous Year 2.92 Million) which has
noL been Lranslerred as per Lhe ordersfinsLrucLions ol Lhe Special CourL (Trial ol 0llences relaLing Lo
TransacLions in SecuriLies), Mumbai. The Holding Company does noL have any subsidiary companies, associaLes and
|oinLly conLrolled enLiLies incorporaLed in India.
For D e lo itte H a s k in s & S e lls
Chartered Accountants
(Firms' PegisLraLion No.008072S)
sd/-
M.K. Ananthanarayanan
Partner
(Membership No.I952I)
Placeof Signature: Gurgaon
DaLe. May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 6 9 1 6 8 | A P O L L O T YR E S L T D
A N N E XU R E T O T H E I N D E P E N D E N T A U D I T O R S ’ R E P O R T
(Pelerred Lo in Paragraph I under 'PeporL on 0Lher Legal and PegulaLory PequiremenLs' secLion ol our reporL ol even daLe)
The Holding Company does noL have any subsidiary companies, associaLes and |oinLly conLrolled enLiLies incorporaLed in
India. Therelore, our reporLing on Lhe 0rder relaLes only Lo Lhe Holding Company Lo Lhe exLenL considered applicable lor
reportingunder theOrder in thecaseof theConsolidated Financial Statements.
(i) In respecL ol iLs lxed asseLs.
(a) The Holding Company has mainLained proper records showing lull parLiculars, including quanLiLaLive deLails and
siLuaLion ol lxed asseLs.
(b) Some ol Lhe lxed asseLs were physically veriled during Lhe year by Lhe Holding Company's ManagemenL in
accordance wiLh a programme ol verilcaLion, which in our opinion provides lor physical verilcaLion ol all
Lhe lxed asseLs aL reasonable inLervals. According Lo Lhe inlormaLion and explanaLions given Lo us no maLerial
discrepancies were noLiced on such verilcaLion.
(ii) In respecL ol iLs invenLories.
(a) As explained Lo us, Lhe invenLories were physically veriled during Lhe year by Lhe Holding Company's
Management at reasonableintervals.
(b) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe procedures ol physical
verilcaLion ol invenLories lollowed by Lhe Holding Company's ManagemenL were reasonable and adequaLe in
relaLion Lo Lhe size ol Lhe Holding Company and Lhe naLure ol iLs business.
(c) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Holding Company has
mainLained proper records ol iLs invenLories and no maLerial discrepancies were noLiced on physical verilcaLion.
(iii) The Holding Company has noL granLed any loans, secured or unsecured, Lo companies, lrms or oLher parLies covered
in Lhe PegisLer mainLained by Lhe Holding Company under SecLion I89 ol Lhe Companies AcL, 20I3.
(iv) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, having regard Lo Lhe explanaLions LhaL
some of the items purchased are of special nature and suitable alternative sources are not readily available for
obLaining comparable quoLaLions, Lhere is an adequaLe inLernal conLrol sysLem commensuraLe wiLh Lhe size ol Lhe
Holding Company and Lhe naLure ol iLs business wiLh regard Lo purchases ol invenLory and lxed asseLs and Lhe sale
ol goods and services. During Lhe course ol our audiL, we have noL observed any ma|or weakness in such inLernal
control system.
(v) According Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Holding Company has noL accepLed any deposiL lrom
Lhe public during Lhe year. In respecL ol unclaimed deposiLs, Lhe Holding Company has complied wiLh Lhe provisions
ol SecLions 73, SecLion 76 or any oLher relevanL provisions ol Lhe Companies AcL, 20I3.
(vi) We have broadly reviewed Lhe cosL records mainLained by Lhe Holding Company pursuanL Lo Lhe Companies (CosL
Pecords and AudiL) Pules, 20I4, as amended and prescribed by Lhe CenLral 0overnmenL under sub-secLion (I) ol
SecLion I48 ol Lhe AcL, and are ol Lhe opinion LhaL, prima lacie, Lhe prescribed cosL records have been made and
mainLained. We have, however, noL made a deLailed examinaLion ol Lhe cosL records wiLh a view Lo deLermine
whether theyareaccurateor complete.
(vii) According Lo Lhe inlormaLion and explanaLions given Lo us in respecL ol sLaLuLory dues.
(a) The Holding Company has been regular in deposiLing undispuLed sLaLuLory dues, including ProvidenL Fund,
Employees' SLaLe Insurance, Income-Lax, Sales Tax, WealLh Tax, Service Tax, CusLoms DuLy, Excise DuLy, value
Added Tax, Cess and oLher maLerial sLaLuLory dues applicable Lo iL wiLh Lhe appropriaLe auLhoriLies.
(b) There were no undispuLed amounLs payable by Lhe Holding Company in respecL ol ProvidenL Fund, Employees'
SLaLe Insurance, Income-Lax, Sales Tax, WealLh Tax, Service Tax, CusLoms DuLy, Excise DuLy, value Added
Tax, Cess and oLher maLerial sLaLuLory dues in arrears as aL March 3I, 20I5 lor a period ol more Lhan six monLhs
fromthedatetheybecamepayable.
(c) DeLails ol dues ol Income-Lax, Sales Tax and Excise DuLy which have noL been deposiLed by Lhe Holding
Company as on March 3I, 20I5 on accounL ol dispuLes are given below.
N a m e o f th e S ta tu te N a tu re o f D u e s F o ru m wh e re
D is p u te is p e n d in g
P e rio d to wh ic h
th e a m o u n t re la te s
(F in a n c ia l Ye a r)
A m o u n t in vo lve d
( in M illio n s )
Sales Tax AcL
applicableto various
States
Sales Lax various AppellaLe
Authorities / Revenue
Board f High CourL.
Financial Years I990-9I
Lo 2002-03, 2004-05 Lo
2006-07 and 20I0-II.
II5.77*
CenLral Excise AcL,
I944
Excise DuLy and
AddiLional Excise
Duty
various AppellaLe
AuLhoriLies f High
Court.
I994-95 Lo 2009-I0 925.75**
Income Tax AcL,
I96I
Income Lax various AppellaLe
AuLhoriLies f High
Court.
I987-88 Lo 20I2-I3 75I.53***
* NeL ol DeposiLs ol 48.05 Million
** NeL ol DeposiLs ol I.65 Million
*** NeL ol DeposiLs ol I4I.43 Million
(d) The Holding Company has been regular in Lranslerring amounLs Lo Lhe InvesLor EducaLion and ProLecLion Fund
in accordance wiLh Lhe relevanL provisions ol Lhe Companies AcL, I956 (I ol I956) and Pules made Lhereunder
within time other than 3.60 Million (Previous Year 2.92 Million) which has noL been Lranslerred as per Lhe
ordersfinsLrucLions ol Lhe Special CourL (Trial ol 0llences relaLing Lo TransacLions in SecuriLies), Mumbai.
(viii) The Holding Company does noL have accumulaLed losses aL Lhe end ol Lhe lnancial year and Lhe Holding Company
has noL incurred cash losses during Lhe lnancial year covered by our audiL and in Lhe immediaLely preceding lnancial
year.
(ix) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Holding Company has noL delaulLed
in Lhe repaymenL ol dues Lo lnancial insLiLuLions, banks and debenLure holders.
(x) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Lerms and condiLions ol Lhe
guaranLees given by Lhe Holding Company lor loans Laken by oLhers lrom banks and lnancial insLiLuLions are noL,
prima lacie, pre|udicial Lo Lhe inLeresLs ol Lhe Holding Company including Lhe bank deposiLs pledged by Lhe Holding
Company lor loans Laken by oLhers as relerred Lo in NoLe BI0(c) Lo Lhe ConsolidaLed Financial SLaLemenLs.
(xi) In our opinion and according Lo Lhe inlormaLion and explanaLions given Lo us, Lhe Lerm loans have been applied by
Lhe Holding Company during Lhe year lor Lhe purposes lor which Lhey were obLained.
(xii) To Lhe besL ol our knowledge and according Lo Lhe inlormaLion and explanaLions given Lo us, no lraud by Lhe Holding
Company and no maLerial lraud on Lhe Holding Company has been noLiced or reporLed during Lhe year.
For D e lo itte H a s k in s & S e lls
Chartered Accountants
(Firms' PegisLraLion No.008072S)
sd/-
M.K. Ananthanarayanan
Partner
(Membership No.I952I)
Placeof Signature: Gurgaon
DaLe. May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 7 1 1 7 0 | A P O L L O T YR E S L T D
C O N S O L I D A T E D B A L A N C E S H E E T
A S A T M A R C H 3 1 , 2 0 1 5
N o te s A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
A . E Q U I T Y & L I A B I L I T I E S :
1 S h a re h o ld e rs ' F u n d s :
(a) Share CapiLal B I 5 0 9 . 0 9 504.09
(b) Peserves and Surplus B 2 4 9 , 9 1 3 . 8 8 45,I34.39
(c) Money Peceived AgainsL Share WarranLs C 7 - I07.75
5 0 , 4 2 2 . 9 7 45,746.23
2 N o n -C u rre n t L ia b ilitie s :
(a) Long-Lerm Borrowings B 3 3 , 3 3 9 . 3 9 7,I37.33
(b) Delerred Tax LiabiliLies (NeL) C I3(a) 5 , 2 0 8 . 9 5 5,358.42
(c) 0Lher Long Term LiabiliLies B 3 7 2 . 6 8 64.67
(d) Long-Lerm Provisions B 3 1 , 2 5 9 . 7 7 I,370.70
9 , 8 8 0 . 7 9 I3,93I.I2
3 C u rre n t L ia b ilitie s : B 4
(a) ShorL-Lerm Borrowings 4 , 6 6 6 . 3 6 2,75I.I9
(b) Trade Payables 8 , 6 4 0 . 1 7 I2,537.63
(c) 0Lher CurrenL LiabiliLies 6 , 6 2 4 . 6 6 I0,397.79
(d) ShorL-Lerm Provisions 5 , 9 1 5 . 8 9 5,09I.88
2 5 , 8 4 7 . 0 8 30,778.49
T O T A L 8 6 , 1 5 0 . 8 4 90,455.84
B . A S S E T S
1 N o n -C u rre n t A s s e ts :
(a) Fixed AsseLs B 5
(i) Tangible AsseLs 4 1 , 5 8 8 . 4 7 43,570.70
(ii) InLangible AsseLs 1 , 0 9 6 . 3 3 986.80
(iii) CapiLal Work-in-Progress 2 , 1 8 2 . 0 6 464.78
4 4 , 8 6 6 . 8 6 45,022.28
(b) 0oodwill on ConsolidaLion 1 , 1 6 5 . 1 3 I,375.62
(c) Non-CurrenL InvesLmenLs B 6 4 7 0 . 2 7 637.2I
(d) Delerred Tax AsseLs (NeL) C I3(a) 2 9 6 . 9 5 II7.00
(e) Long-Lerm Loans & Advances B 7 1 , 9 0 7 . 3 7 I,37I.56
(l) 0Lher Non-CurrenL AsseLs B 8 3 6 0 . 1 8 2I4.I4
4 9 , 0 6 6 . 7 6 48,737.8I
2 C u rre n t A s s e ts :
(a) CurrenL InvesLmenLs B 9 1 , 0 0 0 . 0 0 -
(b) InvenLories B I0 1 7 , 7 8 2 . 0 6 20,664.24
(c) Trade Peceivables B I0 9 , 5 8 9 . 4 3 I0,426.67
(d) Cash & Cash EquivalenLs B I0 5 , 9 4 5 . 9 0 6,540.50
(e) ShorL Term Loans & Advances B II 2 , 3 9 0 . 7 3 3,706.56
(l) 0Lher CurrenL AsseLs B I2 3 7 5 . 9 6 380.06
3 7 , 0 8 4 . 0 8 4I,7I8.03
T O T A L 8 6 , 1 5 0 . 8 4 90,455.84

See accompanying noLes lorming parL ol Lhe consolidaLed lnancial sLaLemenLs
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
C O N S O L I D A T E D S T A T E M E N T O F P R O F I T & L O S S
F O R T H E YE A R E N D E D M A R C H 3 1 , 2 0 1 5
N o te s Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
1 R e ve n u e fro m O p e ra tio n s
Gross Sales 1 3 7 , 2 4 7 . 0 3 I42,895.3I
Less. Excise DuLy 9 , 9 9 0 . 0 4 9,792.03
Net Sales 1 2 7 , 2 5 6 . 9 9 I33,I03.28
0Lher 0peraLing Income B I3 5 9 5 . 4 9 I,0I6.52
2 O th e r I n c o m e B I4 5 3 7 . 9 9 978.46
3 T o ta l R e ve n u e (1 +2 ) 1 2 8 , 3 9 0 . 4 7 I35,098.26

4 E x p e n s e s
(a) CosL ol MaLerials Consumed B I5 6 3 , 8 8 4 . 3 9 7I,067.48
(b) Purchase ol SLock-in-Trade B I5 5 , 8 6 9 . 1 7 6,964.58
(c) Changes in InvenLories ol Finished 0oods,
Work-in-Progress & SLock-in-Trade 8 7 4 . 6 5 (3II.39)
(d) Employee BenelLs Expense B I5 1 6 , 0 7 0 . 3 8 I5,8II.94
(e) Finance CosLs B I6 1 , 8 2 7 . 9 0 2,837.94
(l) DepreciaLion & AmorLizaLion Expense B 5 3 , 8 8 2 . 8 8 4,I08.5I
(g) 0Lher Expenses B I5 2 1 , 8 4 7 . 9 3 2I,832.06
T o ta l E x p e n s e s 1 1 4 , 2 5 7 . 3 0 I22,3II.I2
5 Proñt before ExceptionaI Items & Tax (3 - 4) 1 4 , 1 3 3 . 1 7 I2,787.I4
6 E x c e p tio n a l I te m s C 6 8 2 4 . 9 0 467.86
7 Proñt before Tax (5 - 6) 1 3 , 3 0 8 . 2 7 I2,3I9.28
8 T a x E x p e n s e
(a) CurrenL Tax Expense 3 , 5 3 4 . 9 9 I,942.67
(b) Delerred Tax Expense (2 . 8 1 ) 326.03
T o ta l T a x E x p e n s e 3 , 5 3 2 . 1 8 2,268.70

9 Proñt for the year (7 - 8) 9 , 7 7 6 . 0 9 I0,050.58

1 0 E a rn in g s p e r S h a re o f 1 e a c h : C 2I
(a) Basic 1 9 . 2 5 I9.94
(b) DiluLed 1 9 . 2 3 I9.9I

See accompanying noLes lorming parL ol Lhe consolidaLed lnancial sLaLemenLs
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 7 3 1 7 2 | A P O L L O T YR E S L T D
A . N O T E S F O R M I N G P A R T O F T H E C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S
1 . G R O U P C O R P O R A T E I N F O R M A T I O N
The Apollo Tyres 0roup consisLs ol Apollo Tyres LimiLed, Lhe ulLimaLe holding company wiLh several loreign
subsidiaries. EsLablished in I972, Lhe 0roup is in Lhe business ol manulacLure and sale ol Lyres. The 0roup has iLs
headquarLers in 0urgaon, India and operaLions in 3 conLinenLs. The 0roup employs approximaLely I5,000 employees
based across India, SouLh Alrica and Europe. India consLiLuLes Lhe largesL markeL accounLing lor 65º ol Lhe 0roup's
revenues, lollowed by Europe wiLh 3Iº and SouLh Alrica wiLh 4º.
The producL porLlolio ol Lhe 0roup consisLs ol passenger car, sporLs uLiliLy vehicle, mulLi uLiliLy vehicle, lighL Lruck,
Lruck¬bus, agriculLure, indusLrial, specialLy, bicycle and oll highway Lyres, reLreading maLerial and Lyres, and alloy
wheels.
2 . B A S I S O F C O N S O L I D A T I O N A N D S I G N I F I C A N T A C C O U N T I N G P O L I C I E S
2 . 1 B A S I S O F A C C O U N T I N G A N D P R E P A R A T I O N O F C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S
The consolidaLed lnancial sLaLemenLs ol Lhe Company and iLs subsidiaries and |oinLly conLrolled enLiLies (LogeLher
Lhe '0roup') have been prepared in accordance wiLh Lhe 0enerally AccepLed AccounLing Principles in India (Indian
0AAP) Lo comply wiLh Lhe AccounLing SLandards speciled under SecLion I33 ol Lhe Companies AcL, 20I3, read
wiLh Pule 7 ol Lhe Companies (AccounLs) Pules, 20I4 and Lhe relevanL provisions ol Lhe Companies AcL, 20I3 ("Lhe
20I3 AcL") f Companies AcL, I956 ("Lhe I956 AcL"), as applicable. The consolidaLed lnancial sLaLemenLs have
been prepared on accrual basis under Lhe hisLorical cosL convenLion wiLh Lhe excepLion ol cerLain lxed asseLs, LhaL
are carried aL revalued amounLs. The accounLing policies adopLed in Lhe preparaLion ol Lhe consolidaLed lnancial
statements areconsistent with thosefollowed in theprevious year.
2 . 2 P R I N C I P L E S O F C O N S O L I D A T I O N
The consolidaLed lnancial sLaLemenLs relaLe Lo Apollo Tyres LLd (Lhe 'Company'), iLs subsidiary companies, |oinLly
conLrolled enLiLies and Lhe 0roup's share ol prolL f loss in iLs associaLes. The consolidaLed lnancial sLaLemenLs have
been prepared on thefollowingbasis:
(i) The lnancial sLaLemenLs ol Lhe subsidiary companies, |oinLly conLrolled enLiLies and associaLes used in Lhe
consolidaLion are drawn upLo Lhe same reporLing daLe as LhaL ol Lhe Company i.e., March 3I, 20I5.
(ii) The lnancial sLaLemenLs ol Lhe Company and iLs subsidiary companies have been combined on a line-by-line basis
by adding LogeLher like iLems ol asseLs, liabiliLies, income and expenses, alLer eliminaLing inLra-group balances,
inLra-group LransacLions and resulLing unrealised prolLs or losses, unless cosL cannoL be recovered.
(iii) Share ol prolL f loss, asseLs and liabiliLies in Lhe |oinLly conLrolled enLiLies, which are noL subsidiaries, have been
consolidated on a line-by-linebasis byaddingtogether thebook values of likeitems of assets, liabilities, incomes and
expenses on a proporLionaLe basis Lo Lhe exLenL ol Lhe 0roup's equiLy inLeresL in such enLiLy as per AS 27 Financial
PeporLing ol InLeresLs in doinL venLures. The inLra-group balances, inLra-group LransacLions and unrealised prolLs
or losses have been eliminaLed Lo Lhe exLenL ol Lhe 0roup's share in Lhe enLiLy. doinLly conLrolled enLiLies LhaL are
considered subsidiaries under AS 2I ConsolidaLed Financial SLaLemenLs are consolidaLed similar Lo Lhe manner
ol consolidaLing subsidiaries (Peler (ii) above) and Lhe share ol inLeresL ol Lhe oLher venLurers in such enLiLies is
included as part of minorityinterest.
(iv) The excess ol cosL Lo Lhe 0roup ol iLs invesLmenLs in Lhe subsidiary companies f |oinLly conLrolled enLiLies over iLs
share ol equiLy ol Lhe subsidiary companies f |oinLly conLrolled enLiLies, aL Lhe daLes on which Lhe invesLmenLs in
Lhe subsidiary companies f |oinLly conLrolled enLiLies were made, is recognised as '0oodwill' being an asseL in Lhe
consolidaLed lnancial sLaLemenLs and is LesLed lor impairmenL on annual basis.
(v) MinoriLy InLeresL in Lhe neL asseLs ol Lhe consolidaLed subsidiaries consisL ol Lhe amounL ol equiLy aLLribuLable Lo
the minority shareholders at the date on which investments in the subsidiary companies were made and further
movemenLs in Lheir share in Lhe equiLy, subsequenL Lo Lhe daLes ol invesLmenLs. NeL prolL f loss lor Lhe year ol Lhe
subsidiaries aLLribuLable Lo minoriLy inLeresL is idenLiled and ad|usLed againsL Lhe prolL alLer Lax ol Lhe 0roup in
order to arriveat theincomeattributableto shareholders of theCompany.
(vi) 0oodwill arising on consolidaLion is noL amorLised buL LesLed lor impairmenL.
(vii) In respecL ol Lhe loreign operaLions, Lhe audiLed lnancial sLaLemenLs lor Lhe year ended March 3I, 20I5 were
converLed inLo Indian currency as per accounLing sLandard (AS II) ¨The ellecL ol changes in Foreign Exchange
PaLes".
C O N S O L I D A T E D C A S H - F L O W S T A T E M E N T
F O R T H E YE A R E N D E D M A R C H 3 1 , 2 0 1 5
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
A C A S H F L O W F R O M O P E R A T I N G A C T I VI T I E S
(i) Proñt before tax 1 3 , 3 0 8 . 2 7 I2,3I9.28
Add. Ad|usLmenLs lor.
DepreciaLion and AmorLizaLion Expenses 3,882.88 4,I08.5I
Loss on Sale ol Tangible Fixed AsseLs (NeL) 23.86 29.6I
(ProlL) on Sale ol InvesLmenLs - (I,858.45)
ExcepLional ILem 824.90 -
Dividend lromTrade & Non Trade InvesLmenLs (26.30) (92.57)
Provision lor DoubLlul Trade Peceivables f Advances wriLLen back 40.20 -
Provision lor ConsLrucLive LiabiliLy 7.50 -
Provision lor CompensaLed Absences 37.83 7.80
Provision lor InvenLory - 5.79
Provision lor esLimaLed loss on derivaLives 82.64 67.I4
Provision lor ConLingencies - 425.00
0Lher Provision - 24.59
Unclaimed CrediL Balances f Provisions wriLLen back (20.00) (26.37)
Finance CosL (NeL ol InLeresL CapiLalized) I,827.90 2,837.94
InLeresL Income (II5.60) (22I.90)
Unrealized Loss f (0ain) on Foreign Exchange FlucLuaLion II.49 (69.73)
PosL PeLiremenL Medical 0bligaLion 0.06 6 , 5 7 7 . 3 6 (I7.89) 5,2I9.47
(ii) Dperating Proñt Before Working CapitaI Changes 1 9 , 8 8 5 . 6 3 I7,538.75
Changes in Working CapiLal
Ad|usLmenLs lor (increase) f decrease in operaLing asseLs.
InvenLories I,697.66 (905.58)
Trade Peceivables 892.32 5I6.0I
ShorL-TermLoans and Advances 579.57 (87I.0I)
0Lher Non-CurrenL AsseLs (I46.04) -
0Lher CurrenL AsseLs I04.I7 (589.I4)
Long -TermLoans and Advances (260.6I) 2 , 8 6 7 . 0 7 (9.8I) (I,859.53)
Ad|usLmenLs lor increase f (decrease) in operaLing liabiliLies.
Trade Payables (4,II4.34) 2,I52.38
0Lher CurrenL LiabiliLies (I,250.47) 604.62
0Lher Long-TermLiabiliLies & Provisions I84.I0 I06.70
ShorL - Term Provisions 28.06 (5 , 1 5 2 . 6 5 ) 297.58 3,I6I.28
(iii) C a s h G e n e ra te d fro m O p e ra tio n s 1 7 , 6 0 0 . 0 5 I8,840.50
Less. DirecL Taxes Paid (NeL ol Pelund) (2 , 9 5 4 . 1 6 ) (2,385.86)
Less. ExcepLional ILem (6 2 9 . 9 6 ) -
N e t C a s h F lo w F ro m O p e ra tin g A c tivitie s (A ) 1 4 , 0 1 5 . 9 3 I6,454.64
B C A S H F L O W F R O M I N VE S T I N G A C T I VI T I E S
Purchase ol Fixed AsseLs (Including Purchase ol InvesLmenL ProperLy and InLeresL CapiLalized) (6,268.90) (4,989.I8)
Proceeds lromSale ol Fixed AsseLs 67.87 79.75
DeposiLs on EquipmenLs - 4.45
(Purchase) f Sale ol InvesLmenLs (796.2I) 3,627.20
Long TermFixed Term DeposiLs WiLh Banks Taken f MaLured I5.86 I3.I4
Dividend Peceived lromTrade and Non Trade InvesLmenLs 26.30 92.57
PaymenL lor Trademarks (557.06) (242.03)
InLeresL Peceived II5.69 22I.52
N e t C a s h U s e d in I n ve s tin g A c tivitie s (B ) (7 , 3 9 6 . 4 5 ) (I,I92.58)
C C A S H F L O W F R O M F I N A N C I N G A C T I VI T I E S
Proceeds lromissue ol Share CapiLal including Share Premium 323.25 -
Long-TermBorrowings received 45.86 657.44
PepaymenL ol Long -TermBorrowings (7,652.6I) (6,227.35)
CapiLal Subsidy received 22.50 -
ETP Subsidy received 3.00 -
Bank 0verdralL f ShorL-TermBorrowings (neL ol repaymenLs) 2,78I.22 (3,326.74)
PaymenL ol Dividends (Including Dividend Tax) (446.65) (297.05)
Finance Charges Paid (NeL ol InLeresL CapiLalized) (I,9I2.43) (2,88I.42)
N e t C a s h U s e d I n F in a n c in g A c tivitie s (C ) (6 , 8 3 5 . 8 6 ) (I2,075.I2)
F o re x F lu c tu a tio n d iffe re n c e a ris in g o u t o f C o n s o lid a tio n (D ) (3 5 9 . 2 8 ) I5.07
N e t I n c re a s e in C a s h a n d C a s h E q u iva le n ts (A +B +C +D ) (5 7 5 . 6 6 ) 3,202.0I
Cash & Cash EquivalenLs as aL Lhe beginning ol Lhe year 6 , 5 4 0 . 5 0 3,347.77
Less. Bank DeposiLs wiLh 0riginal MaLuriLy over Three MonLhs 5 9 . 8 8 72.86
Less: UnpaidDividends BankAccounts 3 2 . 4 5 30.24
6 , 4 4 8 . 1 7 3,244.67
Loss on PeinsLaLemenL ol Foreign Currency Cash & Cash EquivalenLs (NeL) 1 0 . 1 0 8.6I
A d ju s te d C a s h & C a s h E q u iva le n ts a s a t th e b e g in n in g o f th e ye a r 6 , 4 3 8 . 0 7 3,236.06
Cash & Cash EquivalenLs as aL Lhe end ol Lhe year 5 , 9 4 5 . 9 0 6,540.50
Less. Bank DeposiLs wiLh 0riginal MaLuriLy over Three MonLhs 4 1 . 0 1 59.88
Less: UnpaidDividends BankAccounts 3 5 . 9 1 32.45
5 , 8 6 8 . 9 8 6,448.I7
Loss on PeinsLaLemenL ol Foreign Currency Cash & Cash EquivalenLs (NeL) 6 . 5 7 I0.I0
A d ju s te d C a s h & C a s h E q u iva le n ts a s a t th e e n d o f th e ye a r 5 , 8 6 2 . 4 1 6,438.07
I n terms of our report attached
For D E L O I T T E H A S K I N S & S E L L S 0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
CharLered AccounLanLs Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
M K A N A N T H A N A R A YA N A N
Partner
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 7 5 1 7 4 | A P O L L O T YR E S L T D
Apollo vredesLein Tires Inc. Subsidiary USA AvBv I00º I00º
Apollo vredesLein KlL Subsidiary Hungary AvBv I00º I00º
S.C. vredeseLin P.0. Srl Subsidiary Romania Apollo
vredesLein
Kft
I00º I00º
Apollo vredesLein 0pony
Polska Sp. Zo.o.
Subsidiary Poland AvBv I00º I00º
vredesLein ConsulLing B.v. Subsidiary Netherlands AvBv I00º I00º
Finlo B.v. Subsidiary Netherlands AvBv I00º I00º
vredesLein MarkeLing B.v. Subsidiary Netherlands AvBv I00º I00º
PanAridus LLC doinL venLure USA ATHS 50.00º 50.00º
N o te s :
(a) IncorporaLed during Lhe year.
(b) As a parL ol group resLrucLuring exercise, enLire share capiLal ol ATA0 has been Lranslerred by ATCPL Lo Apollo
Coop, enLire share capiLal ol ATFZE and ATHS have been Lranslerred by AMHPL Lo Apollo Coop and enLire share
capiLal ol ATH KlL has been Lranslerred by Apollo Coop Lo ATBv.
(c) Name changed lrom Apollo Durban (PLy) LLd Lo Apollo Tyres Alrica (PLy) LLd.
(d) Sold oll during Lhe year
(e) Winding up compleLed during Lhe year.
(x) Following subsidiary companies and associaLes based in Zimbabwe have noL been consolidaLed f accounLed under
Lhe equiLy meLhod buL have been accounLed lor as invesLmenLs under AS I3 AccounLing lor InvesLmenLs in Lhe
ConsolidaLed Financial SLaLemenLs in view ol Lhe currenL poliLical siLuaLion in Zimbabwe LhaL signilcanLly
diminishes conLrol and imposes long Lerm resLricLion on lnancial repaLriaLion.
N a m e o f th e C o m p a n y R e la tio n s h ip C o u n try o f
I n c o rp o ra -
tio n
O wn e rs h ip
H e ld B y
% o f H o ld in g a n d vo tin g p o we r
e ith e r d ire c tly o r in d ire c tly
th ro u g h s u b s id ia ry a s a t
Pemarks 
3 1 . 0 3 . 2 0 1 5 3 1 . 0 3 . 2 0 1 4
Radun I nvestments
(PrivaLe) LLd (PADUN)
Subsidiary Zimbabwe UK ATL
Holdings
Limited
NI L I00º NoLe(a)
Apollo Tyres
(Zimbabwe) (PrivaLe)
Limited
Subsidiary Zimbabwe UK ATL
Holdings
Limited
NI L I00º NoLe(a) & NoLe
(b)
ASF Mining (PvL) LLd
Zimbabwe
Subsidiary Zimbabwe Apollo Tyres
(Zimbabwe)
(PrivaLe)
Limited
NI L I00º NoLe(a) & NoLe
(b)
NaLional Tyre Services
Ltd
Associate Zimbabwe UK ATL
Holdings
Limited
NI L 46.72º NoLe(a) & NoLe
(b)
PressuriLe (PLy) LLd Associate SouthAfrica Apollo (SouLh
Alrica)
Holdings
(PLy) LLd
28.00º 28.00º NoLe(c)
(a) Sold oll during Lhe year.
(b) The cosL ol invesLmenL was lully impaired in Lhe prior years.
(c) The invesLmenL in PressuriLe, an associaLe ol ASHPL, has been lully impaired in Lhe prior years and Lhe group disconLinued
recognizing lurLher losses in accordance wiLh Para I8 ol AccounLing SLandard 23 ¬ ¨AccounLing lor InvesLmenLs in
AssociaLes in ConsolidaLed Financial SLaLemenLs". FurLher, Lhe group does noL have any lurLher obligaLions Lo saLisly wiLh
regard to this associate.
(viii) The consolidaLed lnancial sLaLemenLs have been prepared using unilorm accounLing policies lor like LransacLions and
oLher evenLs in similar circumsLances wiLh cerLain excepLions as relerred in Para 2.4.
(ix) Following subsidiary companies, associaLes and |oinLly conLrolled enLiLies have been considered in Lhe preparaLion ol
Lhe consolidaLed lnancial sLaLemenLs.
N a m e o f th e C o m p a n y R e la tio n s h ip C o u n try o f
I n c o rp o ra tio n
O wn e rs h ip
H e ld B y
% o f H o ld in g a n d vo tin g p o we r
e ith e r d ire c tly o r in d ire c tly
th ro u g h s u b s id ia ry a s a t
Pemarks 
3 1 . 0 3 . 2 0 1 5 3 1 . 0 3 . 2 0 1 4
Apollo (MauriLius) Holdings PvL
LLd (AMHPL)
Subsidiary Mauritius Apollo
Tyres LLd
I00º I00º
Apollo Tyres (0reenleld) Co.
Operatief U.A.
Subsidiary Netherlands Apollo
Tyres LLd
I00º NI L NoLe(a)
Apollo (SouLh Alrica) Holdings
(PLy) LLd (ASHPL)
Subsidiary SouthAfrica AMHPL I00º I00º
Apollo Tyres Alrica (PLy) LLd Subsidiary SouthAfrica ASHPL I00º I00º NoLe(c)
UK ATL Holdings LimiLed Subsidiary UnitedKingdom ASHPL NI L I00º NoLe(d)
Apollo Tyres (Cyprus) PvL LLd
(ATCPL)
Subsidiary Cyprus AMHPL I00º I00º
Apollo Tyres A0 (ATA0) Subsidiary SwiLzerland ApolloCoop I00º I00º NoLe (b)
Apollo Tyres Holdings
(Singapore) PLe LLd (ATHS)
Subsidiary Singapore ApolloCoop I00º I00º NoLe (b)
Apollo Tyres (LA0) Co. LLd Subsidiary Lao, PDR ATHS NI L 95º NoLe(e)
Apollo Tyres (Middle EasL) Fze
(ATFZE)
Subsidiary Dubai ApolloCoop I00º I00º NoLe (b)
Apollo Tyres Co-operaLiel U.A.
(Apollo Coop)
Subsidiary Netherlands AMHPL I00º I00º
Apollo Tyres (Brasil) LLda Subsidiary Brazil ApolloCoop I00º I00º
Apollo Tyres 0lobal P&D B.v. Subsidiary Netherlands ApolloCoop I00º I00º
Apollo Tyres (Thailand) LimiLed Subsidiary Thailand ApolloCoop I00º I00º
Apollo Tyres B.v. (ATBv) Subsidiary Netherlands ApolloCoop I00º I00º
Apollo Tyres (Hungary) KlL.
(ATH KlL)
Subsidiary Hungary ATBv I00º NI L NoLe (b)
Apollo AcquisiLion Corp. Subsidiary USA ATBv NI L I00º NoLe(e)
Apollo Tyres (UK) PvL LLd
(ATUK)
Subsidiary UnitedKingdom ApolloCoop I00º I00º
Apollo Tyres PropvesL (UK)
Pvt Ltd
Subsidiary UnitedKingdom ATUK I00º NI L NoLe(a)
Apollo vredesLein B.v. (AvBv) Subsidiary Netherlands ATBv I00º I00º
Apollo vredesLein 0mbH Subsidiary Germany AvBv I00º I00º
vredesLein MarkeLing B.v. &
Co. KG
Subsidiary Germany Apollo
vredesLein
0mbH
I00º I00º
vredesLein Nordic A.B.
(Earlier known as vredesLein
Deck A.B.)
Subsidiary Sweden AvBv I00º I00º
vredesLein Norge A.S. Subsidiary Norway AvBv I00º I00º
Apollo vredesLein U.K. LimiLed Subsidiary UnitedKingdom AvBv I00º I00º
Apollo vredesLein SAS Subsidiary France AvBv I00º I00º
Apollo vredesLein Belux Subsidiary Belgium AvBv I00º I00º
Apollo vredesLein 0esellschalL
m.b.H.
Subsidiary Austria AvBv I00º I00º
Apollo vredesLein Schweiz A0 Subsidiary SwiLzerland AvBv I00º I00º
Apollo vredesLein Srl Subsidiary I taly AvBv I00º I00º
Apollo vredesLein Iberica SA Subsidiary Spain AvBv I00º I00º
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 7 7 1 7 6 | A P O L L O T YR E S L T D
A d d itio n a l in fo rm a tio n , a s re q u ire d u n d e r S c h e d u le I I I to th e C o m p a n ie s A c t, 2 0 1 3 o f e n titie s c o n s o lid a te d
S . N o N a m e o f th e E n tity N e t A s s e ts Share in Proñt or Loss
A s a % o f
C o n s o lid a te d
N e t A s s e ts
M illio n A s a % o f
C o n s o lid a te d
Proñt or (Loss)
M illio n
P a re n t C o m p a n y
I Apollo Tyres LimiLed 3I.77 I6,02I.34 65.99 6,450.8I
F o re ig n S u b s id ia rie s
2 Apollo Tyres (0reenleld) Co. 0peraLiel U.A. - - - -
3 Apollo (MauriLius) Holdings PvL LLd (AMHPL) 0.64 32I.22 (0.07) (6.73)
4 Apollo Tyres (Cyprus) PvL LLd (ATCPL) (0.07) (33.43) (0.0I) (0.73)
I n te rm e d ia te S u b s id ia ry (R e fe r N o te 1 a n d
2 b e lo w)
5 Apollo (SouLh Alrica) Holdings (PLy) LLd
(ASHPL)
I3.99 7,054.08 (6.40) (625.4I)
6 Apollo Tyres Co-operaLiel U.A. (Apollo Coop) 53.87 27,I60.40 40.77 3,985.44
J o in t Ve n tu re
7 PanAridus LLC (0.20) (I00.64) (0.28) (27.30)
T o ta l 1 0 0 . 0 0 5 0 , 4 2 2 . 9 7 1 0 0 . 0 0 9 , 7 7 6 . 0 9
N o te s :
1 . A p o llo (S o u th A fric a ) H o ld in g s (P ty) L td (A S H P L ) M illio n
S . N o N a m e o f th e E n tity N e t A s s e ts Share in Proñt or Loss
I Apollo (SouLh Alrica) Holdings (PLy) LLd (ASHPL) 2,I60.96 I07.53
2 Apollo Tyres Alrica (PLy) LLd I,460.28 (764.66)
Addf (Less). EllecL ol inLercompany ad|usLmenLsfeliminaLions 3,432.84 3I.72
T o ta l 7 , 0 5 4 . 0 8 (6 2 5 . 4 1 )
2 . A p o llo T yre s C o -o p e ra tie f U . A . (A p o llo C o o p ) M illio n
S . N o N a m e o f th e E n tity N e t A s s e ts Share in Proñt or Loss
I Apollo Tyres Co-operaLiel U.A. (Apollo Coop) 43,696.II (4.97)
2 Apollo Tyres (Hungary) KlL (3I3.39) (374.08)
3 Apollo Tyres A0 (ATA0) I78.II (37.48)
4 Apollo Tyres Holdings (Singapore) PLe LLd (ATHS) 242.08 (I4.46)
5 Apollo Tyres (Middle EasL) Fze (ATFZE) I30.74 I3.53
6 Apollo Tyres (Thailand) LimiLed 287.77 74.53
7 Apollo Tyres (Brasil) LLda 8.35 (3.95)
8 Apollo Tyres 0lobal P&D B.v. I98.5I 9I.47
9 Apollo Tyres B.v. (ATBv) (66.09) (7.36)
I0 Apollo Tyres (UK) PvL LLd (I7.23) 49.I8
II Apollo Tyres PropvesL (UK) PvL LLd 973.77 (2.8I)
I2 Apollo vredesLein B.v. (AvBv) I0,984.96 2,I83.78
I3 Apollo vredesLein 0mbH 3,770.36 289.23
I4 vredesLein MarkeLing B.v. & Co. K0 (2,587.92) 285.38
I5 vredesLein Nordic A.B. 44.I0 28.70
I6 Apollo vredesLein U.K. LimiLed I03.39 II.87
I7 Apollo vredesLein SAS 342.I7 I03.37
I8 Apollo vredesLein Belux 30.I7 I30.62
I9 Apollo vredesLein 0esellschalL m.b.H. 73.34 65.47
20 Apollo vredesLein Schweiz A0 27I.42 27.39
2I Apollo vredesLein Srl 59.26 (I0.69)
22 Apollo vredesLein Iberica SA 268.76 6I.6I
23 Apollo vredesLein Tires Inc. (45.36) (4.55)
24 Apollo vredesLein KlL 4.28 (4.97)
25 S.C. vredeseLin P.0. Srl - -
26 Apollo vredesLein 0pony Polska Sp. Zo.o. I55.80 I5.78
27 vredesLein Norge A.S. (6.I6) 3.26
28 vredesLein ConsulLing B.v. I92.30 3I.02
29 Finlo B.v. (I5.3I) -
30 vredesLein MarkeLing B.v. I.70 -
Addf (Less). EllecL ol inLercompany ad|usLmenLsfeliminaLions (3I,805.59) 984.57
T o ta l 2 7 , 1 6 0 . 4 0 3 , 9 8 5 . 4 4
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 7 9 1 7 8 | A P O L L O T YR E S L T D
2 . 3 U S E O F E S T I M A T E S
The preparaLion ol lnancial sLaLemenLs requires Lhe managemenL Lo make esLimaLes and assumpLions considered
in thereported amounts of assets and liabilities, includingthedisclosureof contingent liabilities as of thedateof the
lnancial sLaLemenLs and Lhe reporLed income and expenses during Lhe reporLing period like provision lor employee
benelLs, provision lor doubLlul debLsfadvances, allowance lor slow and non-moving invenLories, uselul lives ol lxed
asseLs, provision lor sales relaLed obligaLions and provision lor LaxaLion eLc. The ManagemenL believes LhaL Lhe
esLimaLes used in preparaLion ol Lhe lnancial sLaLemenLs are prudenL and reasonable. FuLure resulLs could diller
due to these estimates and the differences between the actual results and the estimates are recognised in the
periods in which theresults areknown / materialise.
2 . 4 I N VE N T O R I E S
InvenLories are valued aL Lhe lower ol cosL and esLimaLed neL realizable value (neL ol allowances) alLer providing
lor obsolescence and oLher losses, where considered necessary. The cosL comprises ol cosL ol purchase, cosL ol
conversion and oLher cosLs including appropriaLe producLion overheads in Lhe case ol lnished goods and work in
progress, incurred in bringingsuch inventories to their present location and condition.
Paw maLerials, sLores & spares and Lraded goods cosL (neL ol CENvATfvAT crediLs wherever applicable) is deLermined on
a moving weighLed average basis and in case ol work in progress and lnished goods, cosL is deLermined on a FirsL in FirsL
0uL basis. In case ol subsidiaries in Europe, Lhe cosL is deLermined on Lhe basis ol ¨FirsL-in FirsL-0uL" and consumable
sLores are sLaLed aL acLual cosL by relerence Lo laLesL purchases. The proporLion ol Paw maLerials and sLores & spares
ol subsidiaries in Europe is I8º ol Lhe LoLal value ol Paw maLerials and sLores & spares held by Lhe group.
2 . 5 C A S H A N D C A S H E Q U I VA L E N T S
Cash comprises cash on hand and demand deposiLs wiLh banks. Cash equivalenLs are shorL-Lerm balances (wiLh
an original maLuriLy ol Lhree monLhs or less lrom Lhe daLe ol acquisiLion), highly liquid invesLmenLs LhaL are readily
converLible inLo known amounLs ol cash and which are sub|ecL Lo insignilcanL risk ol changes in value.
2 . 6 C A S H F L O W S T A T E M E N T
Cash lows are reporLed using Lhe indirecL meLhod, whereby prolL f (loss) belore exLraordinary iLems and Lax is
ad|usLed lor Lhe ellecLs ol LransacLions ol non-cash naLure and any delerrals or accruals ol pasL or luLure cash
receipLs or paymenLs. The cash lows lrom operaLing, invesLing and lnancing acLiviLies ol Lhe 0roup are segregaLed
based on theavailableinformation.
2 . 7 D E P R E C I A T I O N A N D A M O R T I S A T I O N
T a n g ib le F ix e d A s s e ts
DepreciaLion on lxed asseLs is provided using sLraighL line meLhod over Lhe esLimaLed uselul lile ol Lhe asseLs,
in whose case the life of the assets has been assessed as under based on technical advice, taking into account
the nature of the asset, the estimated usage of the asset, the operating conditions of the asset, past history of
replacement, anticipated technological changes, manufacturers warranties and maintenancesupport, etc:
AddiLional depreciaLion consequenL Lo Lhe enhancemenL in Lhe value ol lxed asseLs on Lhe revaluaLion is ad|usLed in
Lhe lxed asseLs revaluaLion reserve accounL.
Leasehold land f ImprovemenLs Lhereon are amorLized over Lhe primary period ol lease.
In respecL ol lxed asseLs whose uselul lile has been revised, Lhe unamorLized depreciable amounL is charged over
therevised remaininguseful life.
I n ta n g ib le A s s e ts
The esLimaLed uselul lile ol Lhe inLangible asseLs and Lhe amorLisaLion period are reviewed aL Lhe end ol each
lnancial year and Lhe amorLisaLion meLhod is revised Lo relecL Lhe changed paLLern.
The raLes ol depreciaLion considered lor Lhe ma|or asseLs are as under.
A s s e ts C la s s E s tim a te d u s e fu l life
Building
PlanL & EquipmenLs
Moulds
MaLerial Handling EquipmenLs
CompuLer Hardware
Computer Software
MoLor vehicles
FurniLure & FixLures and 0llce EquipmenL
Continous Process Plant
20-30 Years
8-25 Years
4-I0 Years
3-7 Years
3-5 Years
3-5 Years
3-5 Years
4-I0 Years
I0-20 Years
2 . 8 R E VE N U E R E C O G N I T I O N
Pevenue is recognized when Lhe signilcanL risks and rewards ol ownership ol goods have been passed Lo Lhe buyer
which generally coincides wiLh Lhe delivery ol goods Lo Lhe cusLomer. 0ross sales are inclusive ol excise duLy and
are neL ol Lrade discounLsfsales reLurnsfvAT.
Sales ol Lhe 0roup include sales Lo exLernal cusLomers and non-consolidaLed subsidiaries.
2 . 9 O T H E R I N C O M E
I nterest incomeis accounted on accrual basis. Dividend incomeon investments is accounted for when theright to
receivethepayment is established.
2 . 1 0 T A N G I B L E F I XE D A S S E T S
(a) Fixed asseLs are sLaLed aL cosL, as ad|usLed by revaluaLion ol cerLain land, buildings, planL and machineries based
on Lhe Lhen replacemenL cosL as deLermined by approved independenL valuer in I986 and I987, less depreciaLion.
(b) All cosLs relaLing Lo Lhe acquisiLion and insLallaLion ol lxed asseLs (neL ol CenvaL fvAT crediLs wherever
applicable) are capiLalized and include lnance cosL on borrowed lunds aLLribuLable Lo acquisiLion ol qualilying
lxed asseLs lor Lhe period up Lo Lhe daLe when Lhe asseL is ready lor iLs inLended use, and ad|usLmenLs arising
lrom loreign exchange dillerences arising on loreign currency borrowings Lo Lhe exLenL Lhey are regarded as an
ad|usLmenL Lo inLeresL cosLs. 0Lher incidenLal expendiLure aLLribuLable Lo bringing Lhe lxed asseLs Lo Lheir working
condiLion lor inLended use are capiLalized. SubsequenL expendiLure relaLing Lo lxed asseLs is capiLalised only il
such expendiLure resulLs in an increase in Lhe luLure benelLs lrom such asseL beyond iLs previously assessed
standard of performance.
(c) Fixed asseLs Laken on lnance lease are capiLalized and depreciaLion is provided on such asseLs, while Lhe inLeresL
is charged Lo Lhe ConsolidaLed SLaLemenL ol ProlL and Loss.
(d) Fixed asseLs reLired lrom acLive use and held lor sale are sLaLed aL Lhe lower ol Lheir neL book value and neL
realisablevalueand aredisclosed separatelyin theBalanceSheet.
(e) CapiLal work-in-progress. Pro|ecLs under which asseLs are noL ready lor Lheir inLended use and oLher capiLal
work-in-progress are carried aL cosL, comprising direcL cosL, relaLed incidenLal expenses and aLLribuLable inLeresL.
2 . 1 1 F O R E I G N C U R R E N C Y T R A N S A C T I O N S A N D T R A N S L A T I O N S
Foreign currency LransacLions are recorded aL raLes ol exchange prevailing on Lhe daLe ol LransacLion. MoneLary
assets and liabilities denominated in foreign currencies as at the balance sheet date are translated at the rate of
exchange prevailing aL Lhe year-end. Exchange dillerences arising on acLual paymenLsfrealizaLions and year-end
resLaLemenLs are dealL wiLh in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss.
The 0roup enLers inLo lorward exchange conLracLs and oLher insLrumenLs LhaL are in subsLance a lorward exchange
conLracL Lo hedge iLs risks associaLed wiLh loreign currency lucLuaLions. The premium or discounL arising aL Lhe
incepLion ol a lorward exchange conLracL (oLher Lhan lor a lrm commiLmenL or a highly probable lorecasL) or similar
insLrumenL, which are noL inLended lor Lrading or speculaLion purposes, is amorLized as expense or income over
Lhe lile ol Lhe conLracL. Any prolL or loss arising on cancellaLion or renewal ol such a lorward exchange conLracL is
recognised as income or as expense in Lhe period in which such cancellaLion or renewal is made. Exchange dillerence
on such conLracLs is recognized in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss in Lhe year in which Lhe exchange
rates change.
Exchange dillerence arising on a moneLary iLem LhaL, in subsLance, lorms parL ol Lhe 0roup's neL invesLmenL in
a non-inLegral loreign operaLion has been accumulaLed in a loreign currency LranslaLion reserve in Lhe 0roup's
lnancial sLaLemenLs unLil Lhe disposal ol neL invesLmenL, aL which Lime Lhey would be recognized as income or as
expense.
The lnancial sLaLemenLs ol consolidaLed loreign subsidiaries are LranslaLed inLo Indian Pupees, which is Lhe
functional currencyof theCompany, as follows:
AsseLs and liabiliLies aL raLes ol exchange ruling aL year end.
Income and expense iLems aL Lhe average raLe lor Lhe year.
Exchange raLe dillerences arising on Lhe LranslaLion ol consolidaLed loreign subsidiaries are classiled as equiLy and
transferred to theforeign currencytranslation reserve.
H e d g e A c c o u n tin g
I f a fair valuehedgemeets theconditions for hedgeaccounting, anygain or loss on thehedged itemattributableto
Lhe hedged risk is included in Lhe carrying amounL ol Lhe hedged iLem and recognized in Lhe ConsolidaLed SLaLemenL
ol ProlL and Loss.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 8 1 1 8 0 | A P O L L O T YR E S L T D
Il a cash low hedge meeLs Lhe condiLions lor hedge accounLing Lhe porLion ol Lhe gain or loss on Lhe hedging
insLrumenL LhaL is deLermined Lo be an ellecLive hedge is recognized direcLly in Hedge Peserve accounL under
Shareholders' Funds and Lhe inellecLive and over-ellecLive porLions are recognized in Lhe ConsolidaLed SLaLemenL
ol ProlL and Loss. A hedge ol Lhe loreign currency risk ol a lrm commiLmenL is designaLed and accounLed lor as a
cash low hedge.
Il an ellecLive hedge ol a lorecasL LransacLion subsequenLly resulLs in Lhe recogniLion ol a lnancial asseL or lnancial
liabiliLy, Lhe associaLed gains or losses recognized in Hedge Peserve are Lranslerred Lo income in Lhe same period in
which Lhe asseL or liabiliLy allecLs prolL or loss.
Il a hedge ol a lorecasL LransacLion subsequenLly resulLs in Lhe recogniLion ol a non-lnancial asseL or non-lnancial
liabiliLy, Lhe associaLed gains or losses recognized in Hedge Peserve are included in Lhe iniLial measuremenL ol Lhe
acquisiLion cosL or oLher carrying amounL ol Lhe asseL or liabiliLy.
I f a hedgeof a net investment in a foreign entitymeets theconditions for hedgeaccounting, theportion of thegain
or loss on Lhe hedging insLrumenL LhaL is deLermined Lo be an ellecLive hedge is recognized direcLly in Hedge Peserve
and Lhe inellecLive porLion is recognized in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss. 0n disposal ol a loreign
enLiLy, Lhe gain or loss recognized in equiLy is Lranslerred Lo Lhe ConsolidaLed SLaLemenL ol ProlL and Loss.
Hedge accounLing is disconLinued on a prospecLive basis when Lhe hedge no longer meeLs Lhe hedge accounLing
criLeria (including when iL becomes inellecLive), when Lhe hedge insLrumenL is sold, LerminaLed or exercised, when
lor cash low hedges Lhe lorecasL LransacLion is no longer expecLed Lo occur or when Lhe hedge designaLion is
revoked. Any cumulaLive gain or loss on Lhe hedging insLrumenL lor a lorecasL LransacLion is reLained in Hedge
Peserve unLil Lhe LransacLion occurs, unless Lhe LransacLion is no longer expecLed Lo occur, in which case iL is
Lranslerred Lo prolL or loss lor Lhe period.
2 . 1 2 G O VE R N M E N T G R A N T S , S U B S I D I E S A N D E XP O R T I N C E N T I VE S
Government grants and subsidies arerecognised when thereis reasonableassurancethat theGroup will comply
with theconditions attached to themand thegrants / subsidywill bereceived. Government grants whoseprimary
condiLion is LhaL Lhe 0roup should purchase, consLrucL or oLherwise acquire capiLal asseLs are presenLed by deducLing
Lhem lrom Lhe carrying value ol Lhe asseLs. The granL is recognised as income over Lhe lile ol a depreciable asseL by
wayof a reduced depreciation charge.
ExporL IncenLives in Lhe lorm ol advance licences f crediLs earned under duLy enLiLlemenL pass book scheme are
LreaLed as income in Lhe year ol exporL aL Lhe esLimaLed realizable value f acLual crediL earned on exporLs made
duringtheyear.
0overnmenL granLs in Lhe naLure ol promoLers' conLribuLion like invesLmenL subsidy, where no repaymenL is
ordinarily expecLed in respecL Lhereol, are LreaLed as capiLal reserve.
Other government grants and subsidies arerecognised as incomeoncetheperiods necessaryto match themwith
thecosts for which theyareintended to compensate, on a systematic basis.
2 . 1 3 I N VE S T M E N T S
Longterminvestments arestated at cost and provision for diminution is madeif thedeclinein valueis other than
temporaryin nature. Current investments arestated at lower of cost and fair valuedetermined on thebasis of each
categoryof investments.
2 . 1 4 E M P L O YE E B E N E F I T S
Employee benelLs include providenL lund, superannuaLion lund, pension lund, graLuiLy lund and compensaLed absences.
LiabiliLy lor graLuiLy Lo employees deLermined on Lhe basis ol acLuarial valuaLion, using pro|ecLed uniL meLhod, as
on balance sheeL daLe is lunded wiLh Lhe Lile Insurance CorporaLion ol India and is recognized as an expense in Lhe
year incurred.
LiabiliLy lor shorL Lerm compensaLed absences is recognized as expense based on Lhe esLimaLed cosL ol eligible
leave to the credit of the employees as at the balance sheet date on undiscounted basis. Liability for long term
compensaLed absences is deLermined on Lhe basis ol acLuarial valuaLion, using pro|ecLed uniL meLhod as on Lhe
balancesheet date.
ConLribuLions Lo delned conLribuLion schemes such as providenL lund, employees' pension lund and superannuaLion
lund and cosL ol oLher benelLs are recognized as an expense in Lhe year incurred. In Lhe case ol providenL lund
conLribuLion Lo Lhe Company's Employees ProvidenL Fund TrusL, Lhe shorLlall, il any, beLween Lhe reLurn lrom
Lhe invesLmenLs ol Company's Employees ProvidenL Fund TrusL and Lhe noLiled inLeresL raLe is recognized as an
expense in ConsolidaLed SLaLemenL ol ProlL and Loss in Lhe year in which Lhe shorLlall is expecLed Lo arise.
AcLuarial gains and losses arising lrom experience ad|usLmenLs and ellecLs ol changes in acLuarial assumpLions are
immediaLely recognized in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss as income or expense.
The employer's liabiliLy lor posL employmenL medical benelLs, in respecL ol pasL service, is provided lor and ad|usLed
in responseto actuarial assessments when necessary.
AL reporLing daLe, employees ol one ol Lhe European subsidiaries parLicipaLed in delned conLribuLion pension plan.
Under Lhis pension plan, lxed conLribuLions are paid Lo Lhe pension lund. In March 20I3, Lhe company and Lhe
pension lund reached an agreemenL, which has resulLed in clarilcaLion ol Lhe lacL LhaL Lhe company has no legal
or consLrucLive obligaLion Lo pay lurLher conLribuLion il Lhe pension lund does noL hold sullcienL asseLs Lo pay all
employee benelLs relaLing Lo employee service. As a resulL ol Lhe above Lhe delned benelL liabiliLy was derecognized
and included in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss as parL ol Lhe employees expenses. 0bligaLions lor
conLribuLions Lo delned conLribuLion plan are recognized in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss lor Lhe
period in which theyarise.
AL reporLing daLe employees ol anoLher European subsidiary parLicipaLed in delned benelL pension plan. This plan
augments thepension provided bythestateand provides additional support for theemployees in thecaseof early
disabiliLy or lor surviving relaLives in case ol Lhe deaLh ol an employee. Employees are enLiLled Lo Lhis pension plan
alLer 5 years ol employmenL. The benelLs ol Lhe delned benelL pension plan in 0ermany are based primarily on
years ol service and employees' compensaLion. The morLaliLy level was assessed in accordance wiLh Lhe 0erman
MorLaliLy Lable 2005 0 Heubeck. valuaLion ol Lhe obligaLion under Lhe pension plan is carried ouL by independenL
actuary.
0ne ol Lhe SouLh Alrican subsidiaries provides reLiremenL benelLs lor iLs employees Lhrough a number ol delned
conLribuLion plans. ConLribuLions by Lhe company Lo delned conLribuLion reLiremenL plans are recognised as an
expense in Lhe period in which Lhe relaLed services are rendered by employees.
In respecL ol eligible employees, Lhe employer's liabiliLy lor posL employmenL medical benelLs (a conLribuLion
obligaLion), in respecL ol pasL service, is provided lor and ad|usLed in response Lo independenL acLuarial assessmenLs
when necessary. The company makes a Lop-up paymenL which is recognised as an expense in Lhe relaLed period.
2 . 1 5 E M P L O YE E S H A R E B A S E D P A YM E N T S
SLock appreciaLion righLs (PhanLom sLock uniLs) granLed Lo employees under Lhe Cash-seLLled Employee Share-
based PaymenL Plan (PhanLom SLock Plan) is recognized based on inLrinsic value meLhod. InLrinsic value ol Lhe
phanLom sLock uniL is deLermined as excess ol closing markeL price on Lhe reporLing daLe over Lhe exercise price ol
Lhe uniL and is charged as employee benelL over Lhe vesLing period in accordance wiLh ¨0uidance NoLe on AccounLing
lor Employee Share-based paymenLs" issued by InsLiLuLe ol CharLered AccounLanLs ol India.
2 . 1 6 B O R R O WI N G C O S T S
Borrowing cosLs include inLeresL, amorLisaLion ol ancillary cosLs incurred and exchange dillerences arising lrom
loreign currency borrowings Lo Lhe exLenL Lhey are regarded as an ad|usLmenL Lo Lhe inLeresL cosL. Borrowing cosLs
are capiLalized as a parL ol Lhe cosL ol qualilying asseL when iL is possible LhaL Lhey will resulL in luLure economic
benelLs and Lhe cosL can be measured reliably. 0Lher borrowing cosLs are recognized as an expense in Lhe period in
which theyareincurred.
2 . 1 7 S E G M E N T R E P O R T I N G
The 0roup idenLiles operaLing & geographic segmenLs based on Lhe dominanL source, naLure ol risks and reLurns
and Lhe inLernal organisaLion and managemenL sLrucLure. The operaLing segmenLs are Lhe segmenLs lor which
separaLe lnancial inlormaLion is available and lor which operaLing prolL f loss amounLs are evaluaLed regularly by
Lhe execuLive ManagemenL in deciding how Lo allocaLe resources and in assessing perlormance.
The accounLing policies adopLed lor segmenL reporLing are in line wiLh Lhe accounLing policies ol Lhe 0roup. SegmenL
revenue, segmenL expenses, segmenL asseLs and segmenL liabiliLies have been idenLiled Lo segmenLs on Lhe basis
of their relationship to theoperatingactivities of thesegment.
I nter-segment revenueis accounted on thebasis of transactions which areprimarilydetermined based on market /
fair valuefactors.
Pevenue, expenses, asseLs and liabiliLies which relaLe Lo Lhe 0roup as a whole and are noL allocable Lo segmenLs on
reasonable basis have been included under 'unallocaLed revenue f expenses f asseLs f liabiliLies'.
2 . 1 8 L E A S E S
Leases where Lhe lessor ellecLively reLains subsLanLially all Lhe risks and benelLs ol ownership ol Lhe leased asseLs
are recognised as operaLing leases. 0peraLing Lease paymenLs are recognized as an expense in Lhe ConsolidaLed
SLaLemenL ol ProlL and Loss on a sLraighL-line basis over Lhe lease Lerm.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 8 3 1 8 2 | A P O L L O T YR E S L T D
Assets leased bytheGroup in its capacityas lesseewhere substantiallyall therisks and rewards of ownership vest
in Lhe 0roup are classiled as lnance leases. Such leases are capiLalised aL Lhe incepLion ol Lhe lease aL Lhe lower
ol Lhe lair value and Lhe presenL value ol Lhe minimum lease paymenLs and a liabiliLy is creaLed lor an equivalenL
amounL. Each lease renLal paid is allocaLed beLween Lhe liabiliLy and Lhe inLeresL cosL so as Lo obLain a consLanL
periodic rateof interest on theoutstandingliabilityfor each year.
2 . 1 9 E A R N I N G S P E R S H A R E
B a s ic e a rn in g s p e r s h a re is compuLed by dividing Lhe prolL f (loss) alLer Lax (including Lhe posL Lax ellecL ol
exLraordinary iLems, il any) by Lhe weighLed average number ol equiLy shares ouLsLanding during Lhe year. D ilu te d
e a rn in g s p e r s h a re is compuLed by dividing Lhe prolL f (loss) alLer Lax (including Lhe posL Lax ellecL ol exLraordinary
iLems, il any) as ad|usLed lor dividend, inLeresL and oLher charges Lo expense or income (neL ol any aLLribuLable Laxes)
relaLing Lo Lhe diluLive poLenLial equiLy shares, by Lhe weighLed average number ol equiLy shares considered lor
deriving basic earnings per share and Lhe weighLed average number ol equiLy shares which could have been issued
on Lhe conversion ol all diluLive poLenLial equiLy shares. PoLenLial equiLy shares are deemed Lo be diluLive only il Lheir
conversion Lo equiLy shares would decrease Lhe neL prolL per share lrom conLinuing ordinary operaLions. PoLenLial
diluLive equiLy shares are deemed Lo be converLed as aL Lhe beginning ol Lhe period, unless Lhey have been issued
aL a laLer daLe. The diluLive poLenLial equiLy shares are ad|usLed lor Lhe proceeds receivable had Lhe shares been
acLually issued aL lair value (i.e. average markeL value ol Lhe ouLsLanding shares). DiluLive poLenLial equiLy shares are
deLermined independenLly lor each period presenLed. The number ol equiLy shares and poLenLially diluLive equiLy
shares are ad|usLed lor share spliLs f reverse share spliLs and bonus shares, as appropriaLe.
2 . 2 0 T A XE S O N I N C O M E
CurrenL Lax is deLermined in accordance wiLh Lhe applicable income Lax laws ol Lhe counLry in which Lhe respecLive
entities in thegroup areincorporated.
Minimum AlLernaLe Tax (MAT) paid in accordance wiLh Lhe Lax laws, which gives luLure economic benelLs in Lhe
lorm ol ad|usLmenL Lo luLure income Lax liabiliLy, is considered as an asseL il Lhere is convincing evidence LhaL Lhe
enLiLy will pay normal income Lax. Accordingly, MAT is recognised as an asseL in Lhe ConsolidaLed Balance SheeL
when iL is probable LhaL luLure economic benelL associaLed wiLh iL will low Lo Lhe enLiLy.
Delerred Lax is recognized on Liming dillerences beLween Lhe accounLing income and Lhe Laxable income lor Lhe
year, and quanLiled using Lhe Lax raLes and laws enacLed or subsLanLively enacLed as on Lhe balance sheeL daLe.
Delerred Lax liabiliLies are recognised lor all Liming dillerences. Delerred Lax asseLs are recognized only Lo Lhe
exLenL Lhere is a reasonable cerLainLy LhaL asseLs can be realized in luLure. However, where Lhere is unabsorbed
depreciaLion or carry lorward ol losses and iLems relaLing Lo capiLal losses, delerred Lax asseLs are recognized only
il Lhere is a virLual cerLainLy supporLed by convincing evidence ol realizaLion ol such asseLs.
CurrenL and delerred Lax relaLing Lo iLems direcLly recognised in reserves are recognised in reserves and noL in Lhe
ConsolidaLed SLaLemenL ol ProlL and Loss.
2 . 2 1 I N T A N G I B L E A S S E T S
InLangible asseLs are carried aL cosL less accumulaLed amorLisaLion and impairmenL losses, il any. The cosL ol
an inLangible asseL comprises iLs purchase price, including any imporL duLies and oLher Laxes (oLher Lhan Lhose
subsequenLly recoverable lrom Lhe Laxing auLhoriLies), and any direcLly aLLribuLable expendiLure on making Lhe asseL
ready lor iLs inLended use and neL ol any Lrade discounLs and rebaLes. SubsequenL expendiLure on an inLangible
asseL alLer iLs purchase f compleLion is recognised as an expense when incurred unless iL is probable LhaL such
expendiLure will enable Lhe asseL Lo generaLe luLure economic benelLs in excess ol iLs originally assessed sLandards
ol perlormance and such expendiLure can be measured and aLLribuLed Lo Lhe asseL reliably, in which case such
expendiLure is added Lo Lhe cosL ol Lhe asseL.
CurrenL and delerred Lax relaLing Lo iLems direcLly recognised in reserves are recognised in reserves and noL in Lhe
SLaLemenL ol ProlL and Loss.
2 . 2 2 R E S E A R C H A N D D E VE L O P M E N T E XP E N S E S
Pevenue expendiLure perLaining Lo research is charged Lo Lhe ConsolidaLed SLaLemenL ol ProlL and Loss. DevelopmenL
cosLs ol producLs are also charged Lo Lhe ConsolidaLed SLaLemenL ol ProlL and Loss unless a producL's Lechnological
leasibiliLy has been esLablished, in which case such expendiLure is capiLalised. The amounL capiLalised comprises
expendiLure LhaL can be direcLly aLLribuLed or allocaLed on a reasonable and consisLenL basis Lo creaLing, producing
and making Lhe asseL ready lor iLs inLended use. Fixed asseLs uLilised lor research and developmenL are capiLalised
and depreciaLed in accordance wiLh Lhe policies sLaLed lor Tangible Fixed AsseLs and InLangible AsseLs.
2 . 2 3 I M P A I R M E N T O F A S S E T S
The carrying values ol asseLs f cash generaLing uniLs aL each balance sheeL daLe are reviewed lor impairmenL il any
indicaLion ol impairmenL exisLs. The lollowing inLangible asseLs are LesLed lor impairmenL each lnancial year even
if thereis no indication that theasset is impaired:
(a) an inLangible asseL LhaL is noL yeL available lor use, and (b) an inLangible asseL LhaL is amorLised over a period
exceeding Len years lrom Lhe daLe when Lhe asseL is available lor use.
Il Lhe carrying amounL ol Lhe asseLs exceed Lhe esLimaLed recoverable amounL, an impairmenL is recognised lor
such excess amounL. The impairmenL loss is recognised as an expense in Lhe ConsolidaLed SLaLemenL ol ProlL and
Loss, unless the asset is carried at revalued amount, in which case any impairment loss of the revalued asset is
LreaLed as a revaluaLion decrease Lo Lhe exLenL a revaluaLion reserve is available lor LhaL asseL.
The recoverable amounL is Lhe greaLer ol Lhe neL selling price and Lheir value in use. value in use is arrived aL by
discounLing Lhe luLure cash lows Lo Lheir presenL value based on an appropriaLe discounL lacLor.
When Lhere is indicaLion LhaL an impairmenL loss recognised lor an asseL (oLher Lhan a revalued asseL) in earlier
accounLing periods no longer exisLs or may have decreased, such reversal ol impairmenL loss is recognised in Lhe
ConsolidaLed SLaLemenL ol ProlL and Loss, Lo Lhe exLenL Lhe amounL was previously charged Lo Lhe ConsolidaLed
SLaLemenL ol ProlL and Loss. In case ol revalued asseLs such reversal is noL recognised.

2 . 2 4 P R O VI S I O N S , C O N T I N G E N T L I A B I L I T I E S A N D C O N T I N G E N T A S S E T S
A provision is recognized when Lhe 0roup has a presenL obligaLion as a resulL ol pasL evenLs and iL is probable LhaL
an ouLlow ol resources will be required Lo seLLle Lhe obligaLion, in respecL ol which a reliable esLimaLe can be made.
Provisions (excluding reLiremenL benelLs) are noL discounLed Lo Lheir presenL value and are deLermined based on
besL esLimaLes required Lo seLLle Lhe obligaLion aL Lhe balance sheeL daLe. These are reviewed aL each balance sheeL
daLe and ad|usLed Lo relecL Lhe currenL besL esLimaLes.
ConLingenL liabiliLy is disclosed lor (i) Possible obligaLion which will be conlrmed only by luLure evenLs noL wholly
wiLhin Lhe conLrol ol Lhe 0roup or (ii) PresenL obligaLions arising lrom pasL evenLs where iL is noL probable LhaL an
ouLlow ol resources will be required Lo seLLle Lhe obligaLion or a reliable esLimaLe ol Lhe amounL ol Lhe obligaLion
cannoL be made. ConLingenL asseLs are noL recognized in Lhe consolidaLed lnancial sLaLemenLs since Lhis may resulL
in Lhe recogniLion ol income LhaL may never be realized.
2 . 2 5 P R O VI S I O N F O R S A L E S R E L A T E D O B L I G A T I O N S
The esLimaLed liabiliLy lor sales relaLed obligaLions is recorded when producLs are sold. These esLimaLes are
esLablished using hisLorical inlormaLion on Lhe naLure, lrequency and average cosL ol obligaLions and managemenL
esLimaLes regarding possible luLure incidence. The Liming ol ouLlows will vary as and when Lhe obligaLion will arise
- beingtypicallyupto threeyears.
2 . 2 6 D E R I VA T I VE C O N T R A C T S
The 0roup enLers inLo derivaLive conLracLs in Lhe naLure ol loreign currency swaps, currency opLions, lorward
conLracLs wiLh an inLenLion Lo hedge iLs exisLing asseLs and liabiliLies, lrm commiLmenLs and highly probable
LransacLions. DerivaLive conLracLs which are closely linked Lo Lhe exisLing asseLs and liabiliLies are accounLed as per
Lhe policy sLaLed lor Foreign Currency TransacLions and TranslaLions.
Derivativecontracts designated as a hedginginstrument for highlyprobableforecast transactions areaccounted as
per Lhe policy sLaLed lor Hedge AccounLing.
All other derivative contracts are marked-to-market and losses are recognised in the Consolidated Statement of
ProlL and Loss. 0ains arising on Lhe same are noL recognised, unLil realised, on grounds ol prudence.
2 . 2 7 I N S U R A N C E C L A I M S
Insurance claims are accounLed lor on Lhe basis ol claims admiLLed f expecLed Lo be admiLLed and Lo Lhe exLenL LhaL
thereis no uncertaintyin receivingtheclaims.
2 . 2 8 S E R VI C E T A X I N P U T C R E D I T S
Service Lax inpuL crediL is accounLed lor in Lhe books in Lhe period in which Lhe underlying service received is
accounted and when thereis no uncertaintyin availing/ utilisingthecredits.
2 . 2 9 O P E R A T I N G C YC L E
Based on Lhe naLure ol producLs f acLiviLies ol Lhe 0roup and Lhe normal Lime beLween acquisiLion ol asseLs and Lheir
realisaLion in cash or cash equivalenLs, Lhe 0roup has deLermined iLs operaLing cycle as I2 monLhs lor Lhe purpose
ol classilcaLion ol iLs asseLs and liabiliLies as currenL and non-currenL.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 8 5 1 8 4 | A P O L L O T YR E S L T D
B . N O T E S F O R M I N G P A R T O F T H E C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S
B 1 S H A R E C A P I T A L
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) A U T H O R I S E D
7 3 0 , 0 0 0 , 0 0 0 N o s . (730,000,000 Nos.) EquiLy Shares ol I each 7 3 0 . 0 0 730.00

2 0 0 , 0 0 0 N o s . (200,000 Nos.) CumulaLive Pedeemable Prelerence 2 0 . 0 0 20.00
Shares of I00 each
7 5 0 . 0 0 750.00
(b ) I S S U E D , S U B S C R I B E D , C A L L E D A N D F U L L Y P A I D U P
E q u ity S h a re s o f 1 e a c h :
5 0 9 , 0 2 4 , 7 7 0 (504,024,770) EquiLy Shares 0uLsLanding 5 0 9 . 0 2 504.02

Add: Forfeited Shares: 1 3 , 5 6 5 N o s . (I3,565 Nos.) 0 . 0 7 0.07
5 0 9 . 0 9 504.09
(c ) R e co n cilia tio n o f th e n u m b e r o f e q u ity sh a re s a n d a m o u n t o u tsta n d in g a t th e b e g in n in g a n d a t th e e n d o f th e ye a r:
A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
N o . o f S h a re s M illio n N o . o f S h a re s M illio n
OpeningBalance 504,024,770 504.02 504,024,770 504.02
Add: Shares allotted on conversion of Share
WarranLs (NoLe C-7)

5,000,000

5.00

-

-
C lo s in g B a la n c e 5 0 9 , 0 2 4 , 7 7 0 5 0 9 . 0 2 5 0 4 , 0 2 4 , 7 7 0 5 0 4 . 0 2
(d ) D e ta ils o f S h a re h o ld e rs h o ld in g m o re th a n 5 % o f th e P a id U p E q u ity S h a re C a p ita l o f th e C o m p a n y with Vo tin g
R ig h ts:
S . N o . N a m e o f th e S h a re h o ld e r
A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
N o . o f S h a re s % N o . o f S h a re s %
I Neera| ConsulLanLs LLd 42,508,I42 8.35º 42,508,I42 8.43º
2 Apollo FinanceLtd 36,759,650 7.22º 36,759,650 7.29º
3 Sunrays ProperLies & InvesLmenL Co. PvL LLd 35,725,648 7.02º 35,725,648 7.09º
4 ConstructiveFinancePvt Ltd 29,630,857 5.82º 29,630,857 5.88º
5 Skagen Kon-Tiki verdipapirlond - - 27,020,843 5.36º
(e ) T h e rig h ts , p re fe re n c e s a n d re s tric tio n s a tta c h e d to e q u ity s h a re s o f th e C o m p a n y:
The company has only one class ol shares relerred Lo as equiLy shares having a par value ol ` I each. The holder ol
equiLy shares are enLiLled Lo one voLe per share.
(f) In Lhe evenL ol liquidaLion ol Lhe company, Lhe holders ol equiLy shares will be enLiLled Lo receive remaining asseLs
ol Lhe company, alLer disLribuLion ol all prelerenLial amounLs. The disLribuLion will be in proporLion Lo Lhe number ol
equiLy shares held by Lhe shareholders.
(g ) Shares issued Lowards ouLsLanding share warranLs - (NoLe C-7).
B 2 R E S E R VE S A N D S U R P L U S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) C a p ita l S u b s id y (N o te C -5 ) 2 5 . 5 0 3.00
(b ) C a p ita l R e d e m p tio n R e s e rve 4 4 . 4 0 44.40
(c ) S e c u ritie s P re m iu m A c c o u n t
As per last BalanceSheet 5 , 6 5 9 . 7 1 5,659.7I
Add. Peceived during Lhe year (NoLe C-7) 4 2 6 . 0 0 -
6 , 0 8 5 . 7 1 5,659.7I
(d ) D e b e n tu re R e d e m p tio n R e s e rve
As per last BalanceSheet 1 , 6 5 8 . 3 3 I,I70.83
Add. Translerred lrom surplus in ConsolidaLed SLaLemenL ol
ProlL and Loss 3 0 0 . 0 0 59I.67
Less: Utilised duringtheyear 1 , 0 0 0 . 0 0 I04.I7
9 5 8 . 3 3 I,658.33
(e ) R e va lu a tio n R e s e rve 3 1 . 2 2 3I.22
(f) S h a re F o rfe itu re 1 , 3 7 5 /- ( 1 3 7 5 /-) - -
(g ) G e n e ra l R e s e rve
As per last BalanceSheet 9 , 0 0 1 . 4 3 8,00I.43
Add. Translerred lrom surplus in ConsolidaLed SLaLemenL ol
ProlL and Loss 1 , 0 0 0 . 0 0 I,000.00
1 0 , 0 0 1 . 4 3 9,00I.43
(h ) F o re ig n C u rre n c y T ra n s la tio n R e s e rve
As per last BalanceSheet 1 , 8 1 9 . 0 9 (3I0.I8)
Add. Share ol |oinL venLures - |oinLly conLrolled enLiLies (1 . 8 5 ) (I.55)
Add. EllecL 0l Foreign Exchange raLe variaLions during Lhe year (3 , 9 5 5 . 3 8 ) 2,I30.82
ClosingBalance (2 , 1 3 8 . 1 4 ) I,8I9.09
(i) SurpIus in ConsoIidated Statement of Proñt and Loss
As per last BalanceSheet 2 6 , 9 1 7 . 2 1 I8,796.39
Add. Transler lrom DebenLure PedempLion Peserve 1 , 0 0 0 . 0 0 I04.I7
Less: Depreciation on transition to ScheduleI I of theCompanies
AcL, 20I3 on Langible lxed asseLs wiLh nil remaining uselul lile
(neL ol delerred Lax ol I32.94 Million) (NoLe C-8) 2 5 8 . 1 8 -
Add. NeL ProlL lor Lhe year 9 , 7 7 6 . 0 9 I0,050.58
Balanceavailablefor Appropriation 3 7 , 4 3 5 . 1 2 28,95I.I4
Less: Appropriations madeduringtheyear
General Reserve 1 , 0 0 0 . 0 0 I,000.00
DebentureRedemption Reserve 3 0 0 . 0 0 59I.67
Proposed Dividend: 2 . 0 0 p e r s h a re ( 0.75 per share) 1 , 0 1 8 . 0 5 378.02
Dividend Tax 2 0 7 . 2 5 64.24
Dividend lor previous year* 3 . 7 5 -
Dividend Tax on dividend lor previous year* 0 . 6 4 -
2 , 5 2 9 . 6 9 2,033.93
ClosingBalance 3 4 , 9 0 5 . 4 3 26,9I7.2I
T o ta l R e s e rve s a n d S u rp lu s 4 9 , 9 1 3 . 8 8 45,I34.39
* Dividend & Dividend Lax lor previous year relaLe Lo dividend paid on 5,000,000 equiLy shares which were alloLLed
on conversion ol 5,000,000 warranLs alLer March 3I, 20I4 buL belore duly 20, 20I4 (book closure daLe) (NoLe C-7).
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 8 7 1 8 6 | A P O L L O T YR E S L T D
B 3 N O N - C U R R E N T L I A B I L I T I E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
L O N G T E R M B O R R O WI N G S
S E C U R E D *
(i) D e b e n tu re s
I,000 - 9.40 º Non ConverLible DebenLures ol I Million each 1 , 0 0 0 . 0 0 I,000.00
I,000 - I0.I5 º Non ConverLible DebenLures ol I Million each - I,000.00
I,250 - II.50 º Non ConverLible DebenLures ol I Million each - 4I6.67
1 , 0 0 0 . 0 0 2,4I6.67
(ii) T e rm L o a n s
F ro m B a n k s :
ExLernal Commercial Borrowings (ECB) 1 , 1 4 7 . 5 5 2,306.00
Pupee Term Loans - 333.33
1 , 1 4 7 . 5 5 2,639.33
F ro m O th e rs :
InLernaLional Finance CorporaLion - Loan A 677.06 902.74
I nternational FinanceCorporation - Loan B 399.I4 1 , 0 7 6 . 2 0 598.7I I,50I.45
BharaL EarLhmovers LLd. (BEML) - 4I2.45
1 , 0 7 6 . 2 0 I,9I3.90
(iii) F in a n c e L e a s e - D e fe rre d P a ym e n t L ia b ilitie s
Delerred PaymenL CrediL I (NoLe C-20) 1 0 7 . 4 9 I55.32
Delerred PaymenL CrediL II (NoLe C-20) 8 . 1 5 I2.II
1 1 5 . 6 4 I67.43
3 , 3 3 9 . 3 9 7,I37.33
O T H E R L O N G T E R M L I A B I L I T I E S
SecurityDeposits Received fromDealers 1 4 . 5 3 I2.92
SecuriLy DeposiLs Peceived lrom Employees 5 4 . 6 1 49.20
Lease EscalaLion 1 . 5 9 -
Share ol |oinL venLures - |oinLly conLrolled enLiLies 1 . 9 5 2.55
7 2 . 6 8 64.67
L O N G T E R M P R O VI S I O N S
Provision for EmpIoyee Beneñts
Pension Liability 8 5 4 . 8 5 999.46
PosL PeLiremenL Medical BenelLs 1 2 9 . 2 0 I4I.0I
dubilee BenelLs 1 2 9 . 0 8 I33.55
Provision lor ConsLrucLive LiabiliLy (NoLe C-I4(c)) 7 8 . 4 3 67.6I
O th e rs 6 8 . 2 1 29.07
1 , 2 5 9 . 7 7 I,370.70

* For deLails regarding PepaymenL Terms, InLeresL PaLe and NaLure ol SecuriLy on Long Term Borrowings, Peler
NoLe B 3(a).
N O T E B 3 (A )
D E B E N T U R E S :
N a tu re o f
B o rro w-
in g
P a rtic u la rs A m o u n t o u ts ta n d in g a s a t
M a rc h 3 1 , 2 0 1 5
M illio n
A m o u n t o u ts ta n d in g a s a t
M a rc h 3 1 , 2 0 1 4
M illio n
R a te o f
I n te re s t
T e rm s o f
R e p a ym e n t
D e ta ils o f
S e c u rity
O ffe re d
L o n g T e rm
B o rro win g s
C u rre n t
M a tu ritie s o f
L o n g T e rm
B o rro win g s
L o n g T e rm
B o rro win g s
C u rre n t
M a tu ritie s
o f L o n g
T e rm
B orrowings
I,000 - 9.40 º Non
ConvertibleDebentures of
I Million each
I,000.00 - I,000.00 - 9.40º Bullet repayment
on I0-II-20I7
NoLe A2
& BI
I,000 - I0.I5 º Non
ConvertibleDebentures of
I Million each
- I,000.00 I,000.00 - I0.I5º Bullet Repayment
on I6-04-20I5.
NoLe A3
& BI
I,000 - I0.I5 º Non
ConvertibleDebentures of
I Million each
- - - I,000.00 I0.I5º Bullet Repayment
on 29-03-20I5.
NoLe A3
& BI
I,250 - II.50 º Non
ConvertibleDebentures of
I Million each
- 4I6.67 4I6.67 4I6.67 II.50º PedempLion in 3
equal insLalmenLs
of ` 4I6.67 Million
on 02-02-I4, 02-
02-I5 & 02-02-I6
respectively.
NoLe A2
& BI
2,000 - I0.I0 º Non
ConvertibleDebentures of
I Million each
- - - 2,000.00 I0.I0º Bullet Repayment
on 30-08-20I4
Unsecured
I,000 - 9.70 º Non
ConvertibleDebentures of
I Million each
- - - I,000.00 9.70º Bullet Repayment
on I7-I2-20I4
Unsecured
T o ta l D e b e n tu re s 1 , 0 0 0 . 0 0 1 , 4 1 6 . 6 7 2 , 4 1 6 . 6 7 4 , 4 1 6 . 6 7
E XT E R N A L C O M M E R C I A L B O R R O WI N G S F R O M B A N K S :
Bank I ECB II 56.I3 II2.25 I68.38 II2.25 9-I0º Repayment in8
equal insLallmenLs
ol USD I.25 Million
half yearlystarted
lromI7.I2.I2.
NoLe AI
& BI
Bank 2 ECB II - - - 349.99 9-I0º PepaymenL in I
half-yearlyinstall-
menL ol USD I.25
Million and Lhen 5
half-yearlyinstall-
ments of USD
3.75 Million lrom
I6.07.I2.
NoLe AI
& B2
ECB III I34.85 269.70 404.55 269.70 9-I0º PepaymenL in 2 hall
yearlyinstallments
ol USD 2.50 Million
and Lhen 5 hall
yearlyinstallments
ol USD 3.00 Million
lrom27.06.I3.
NoLe AI
& B2
Bank 3 ECB I - 23I.I0 23I.I0 23I.I0 7-8º PepaymenL in 4
equal annual in-
stallments of USD
5 Million sLarLed
lrom03.08.I2.
NoLe AI
& B2
ECB II I39.I9 I39.I9 278.38 I39.I8 9-I0º Repayment in
4 equal annual
installments of
USD 3.I25 Million
startedfrom
I6.07.I3.
NoLe AI
& B2
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 8 9 1 8 8 | A P O L L O T YR E S L T D
Bank 4 ECB I 200.0I 99.99 300.00 - 7-8º Repayment in
3 equal annual
installments inUSD
equivalenL Lo I00
Millionstarting
lrom29.09.I5.
NoLe AI
& BI
ECB II 288.27 I44.II 432.39 - 8-9º PepaymenL in 3
equal annual in-
stallments of USD
2.90 Million sLarLing
lrom26.I0.I5.
NoLe AI
& BI
Bank 5 ECB I 329.I0 I62.I0 49I.20 - I0-IIº PepaymenL in 3
equal annual in-
stallments of USD
3.33 Million sLarLing
lrom28.09.I5.
NoLe AI
& BI
T o ta l E x te rn a l C o m m e rc ia l B o rro win g s 1 , 1 4 7 . 5 5 1 , 1 5 8 . 4 4 2 , 3 0 6 . 0 0 1 , 1 0 2 . 2 2
R U P E E T E R M L O A N S F R O M B A N K S :
Bank I Pupee TermLoans - - 333.33 I66.67 I2º Prepaidduringtheyear
T o ta l R u p e e T e rm L o a n s - - 3 3 3 . 3 3 1 6 6 . 6 7
T E R M L O A N S F R O M O T H E R S :
I FC LoanA 677.06 225.69 902.74 225.69 9-I0º PepaymenL in I2
half yearlyinstall-
menLs ol USD 2.50
Millioneachstarted
lromdune I7, 20I3.
NoLe AI
& B2
LoanB 399.I4 I99.57 598.7I I99.57 9-I0º Repayment in9
half yearlyinstall-
menLs ol USD 2.22
Millioneachstarted
lromDecember I6,
20I3.
NoLe AI
& B2
BEML Loan I - - 4I2.45 82.49 2.25º
lower
than
prevailing
SBI PLR
Prepaidduringtheyear
T o ta l T e rm L o a n s fro m O th e rs 1 , 0 7 6 . 2 0 4 2 5 . 2 6 1 , 9 1 3 . 9 0 5 0 7 . 7 5
D E F E R R E D P A YM E N T C R E D I T :
Others DeferredPayment Credit I I07.49 47.84 I55.32 44.54 7-8º Repayment along
withI nterest in
240 consecuLive
monthlyinstall-
ments startedfrom
May I5, 2007.
Wind Mills
purchased
under the
scheme.
DeferredPayment Credit
I I
8.I5 8.28 I2.II 7.97 8-9º Repayment along
wiLh InLeresL in 20
equal quarLerly
installments
startedfrom
April, 20I0.
Engneering
materials
purchased
under the
scheme
1 1 5 . 6 4 5 6 . 1 2 1 6 7 . 4 3 5 2 . 5 1
D e ta ils o f S e c u rity O ffe re d to E x is tin g L e n d e rs :
NoLe AI A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land
& Premises aL village Kodakara in Kerala, aL village Limda in 0u|araL, aL SIPC0T IndusLrial 0rowLh CenLre
aL 0ragadam near Chennai, and aL Head 0llce in 0urgaon, Haryana LogeLher wiLh Lhe lacLory buildings,
PlanL & machinery & EquipmenLs, boLh presenL & luLure.
NoLe A2 A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land &
Premises aL village Kodakara in Kerala and aL village Limda in 0u|araL LogeLher wiLh Lhe lacLory buildings,
PlanL & machinery & EquipmenLs, boLh presenL & luLure.
NoLe A3 A pari passu lrsL charge along wiLh oLher lenders creaLed by way ol morLgage on Lhe Company's Land &
Premises aL village Limda in 0u|araL LogeLher wiLh Lhe lacLory buildings, PlanL & machinery & EquipmenLs,
boLh presenL & luLure.
NoLe BI A pari passu lrsL charge along wiLh oLher lenders by way ol hypoLhecaLion over Lhe movable asseLs ol Lhe
company, boLh presenL and luLure (excepL sLocks & book debLs).
NoLe B2 A pari passu lrsL charge on Lhe movable asseLs and pari passu second charge on Lhe currenL asseLs ol Lhe
company.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 9 1 1 9 0 | A P O L L O T YR E S L T D
B 4 C U R R E N T L I A B I L I T I E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
S H O R T T E R M B O R R O WI N G S
S e c u re d *
PackingCredit 3 6 2 . 4 0 299.57
Banks - Cash CrediL (Pepayable on Demand) 1 . 1 6 2.02
Banks Overdraft - 39.65
ShorL Term Loan lrom Banks - 240.78
U n s e c u re d
Buyer's CrediL - Paw MaLerials - I73.80
Banks Overdraft 3 9 . 7 6 664.03
PackingCredit 4 , 2 6 3 . 0 4 I,33I.34
4 , 6 6 6 . 3 6 2,75I.I9
T R A D E P A YA B L E S
Payable Lo Micro, Small & Medium EnLerprises 2 3 . 8 1 2I.35
Acceptances 1 8 7 . 7 9 I,243.50
AccounLs Payable - Paw MaLerials & Services 6 , 3 0 3 . 6 8 9,552.I2
FreighL, PorL Charges, CHA Charges Payable 6 6 4 . 5 6 47I.93
Expenses Payable 3 0 3 . 4 0 426.I2
Employee PelaLed Payables** 1 , 1 1 8 . 2 4 786.9I
Payableto Related Parties 3 1 . 6 7 3I.65
Share ol |oinL venLures - |oinLly conLrolled enLiLies 7 . 0 2 4.05
8 , 6 4 0 . 1 7 I2,537.63
O T H E R C U R R E N T L I A B I L I T I E S
C u rre n t M a tu ritie s o f L o n g -T e rm D e b t***
S e c u re d
D e b e n tu re s
I,250 - II.50º Non ConverLible DebenLures ol I Million each 4 1 6 . 6 7 4I6.67
I000 - I0.I5º Non ConverLible DebenLures ol I Million each 1 , 0 0 0 . 0 0 -
I000 - I0.I5º Non ConverLible DebenLures ol I Million each - I,000.00
1 , 4 1 6 . 6 7 I,4I6.67
T e rm L o a n fro m B a n k s
ExLernal Commercial borrowings (ECB) 1 , 1 5 8 . 4 4 I,I02.22
Pupee Term Loans - I66.67
1 , 1 5 8 . 4 4 I,268.89
T e rm L o a n fro m O th e rs
I nternational FinanceCorporation - Loan A 2 2 5 . 6 9 225.69
I nternational FinanceCorporation - Loan B 1 9 9 . 5 7 I99.57
BharaL EarLhmovers LLd. (BEML) - 82.49
4 2 5 . 2 6 507.75
F in a n c e L e a s e - D e fe rre d P a ym e n t L ia b ilitie s
Delerred PaymenL CrediL I (NoLe C-20) 4 7 . 8 4 44.54
Delerred PaymenL CrediL II (NoLe C-20) 8 . 2 8 7.97
5 6 . 1 2 52.5I
U n s e c u re d
D e b e n tu re s
2,000 - I0.I0º Non ConverLible DebenLures ol I Million each - 2,000.00
I,000 - 9.70º Non ConverLible DebenLures ol I Million each - I,000.00
- 3,000.00
3 , 0 5 6 . 4 9 6,245.82
T ra d e P a ya b le s I n c lu d e d u e to R e la te d P a rtie s (N o te C -1 8 )
Companies in which Directors areinterested 3 1 . 6 7 3I.65
* Cash CrediLs, Buyers CrediL lor Paw MaLerials and Packing CrediL are secured by a lrsL charge on Paw maLerials,
Work-in-Progress, SLocks, SLores and Book DebLs and by a second charge on Lhe Company's land aL village Kodakara
in Kerala, aL 0ragadam and MaLhur village in Tamil Nadu and aL Head 0llce in 0urgaon, Haryana LogeLher wiLh Lhe
FacLory Buildings, PlanL & Machinery and EquipmenLs, boLh presenL and luLure.
** Employee PelaLed Payables includes commission on neL prolLs payable Lo whole-Lime direcLors 4 9 0 M illio n
( 228 Million)
*** For naLure ol securiLy on CurrenL MaLuriLies ol Long Term DebLs, Peler NoLe B 3(a).

B 4 C U R R E N T L I A B I L I T I E S (C o n tin u e d )
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
O T H E R C U R R E N T L I A B I L I T I E S (C o n tin u e d )
I nterest accrued but not dueon borrowings 1 5 1 . 0 6 23I.79
Unclaimed Dividends* 3 7 . 5 0 34.I9
Payable Lo Micro, Small & Medium EnLerprises - Capex vendors 7 . 2 1 7.44
InLeresL payable Lo Micro, Small & Medium EnLerprises 1 0 . 5 8 I0.58
O th e r P a ya b le s **
AccounLs Payable - CapiLal 3I3.3I 4I6.83
Excise DuLy on closing sLock 288.I5 324.26
Payable Lo PelaLed ParLies 43.I5 4.48
SLaLuLory remiLLances (ConLribuLion Lo PF & ESIC, vAT,
CST, Excise DuLy, CusLom DuLy, Service Tax and oLhers) I,494.68 I,390.02
ExporL 0bligaLions - Advance Licence BenelL 7.67 64.05
SecuriLy DeposiLs - vendors 287.85 330.8I
SecuriLy DeposiLs - Dealers f Employees 65.02 5I.84
DerivaLive Financial LiabiliLies I8.4I 8.48
Advance Peceived From CusLomers 302.79 408.85
Lease EscalaLion 0.I0 -
Others 342.44 3 , 1 6 3 . 5 7 8I9.92 3,8I9.54
GratuityPayable 1 9 8 . 2 5 48.43
3 , 5 6 8 . 1 7 4,I5I.97
6 , 6 2 4 . 6 6 I0,397.79
S H O R T T E R M P R O VI S I O N S
Provision for EmpIoyee Beneñts
Provision for Compensated Absences 7 5 5 . 2 5 833.55
Social PremiumPayable 4 5 4 . 9 5 6I2.I2
1 , 2 1 0 . 2 0 I,445.67
O th e rs
Provision lor ConLingencies (NoLe C-I4(b)) 4 2 5 . 0 0 425.00
Proposed Dividend on EquiLy Shares 1 , 0 1 8 . 0 5 378.02
Dividend Tax 2 0 7 . 2 5 64.24
Provision lor TaxaLion II,45I.20 I0,I58.34
Less. MAT CrediL Ad|usLed 450.I3 58.52
Less. Advance Tax I0,3I5.38 6 8 5 . 6 9 9,464.25 635.57
Provision lor WealLh Tax 7 . 0 0 7.00
Provision lor Sales relaLed obligaLions (NoLe C-I4(a)) 2 , 1 5 9 . 0 1 2,0I7.35
Provision lor esLimaLed loss on Forward Foreign Exchange
Contracts 1 5 0 . 4 9 67.85
Deferred Revenue 3 0 . 3 2 35.80
Provision lor ConsLrucLive LiabiliLy (NoLe C-I4(c)) 2 2 . 8 8 I5.38
4 , 7 0 5 . 6 9 3,646.2I
5 , 9 1 5 . 8 9 5,09I.88
** O th e r P a ya b le s I n c lu d e d u e to R e la te d P a rtie s (N o te C -1 8 )
Companies in which Directors areinterested 4 3 . 1 5 4.48
* Includes 3 . 6 0 M illio n ( 2.92 Million) which has noL been Lranslerred Lo Lhe InvesLor EducaLion and ProLecLion Fund
under SecLion I24 ol Lhe Companies AcL, 20I3, as per Lhe ordersf insLrucLions ol Lhe special courL (Lrial ol ollences
relaLing Lo LransacLions in securiLies), Mumbai.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 9 3 1 9 2 | A P O L L O T YR E S L T D
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B 6 N O N C U R R E N T I N VE S T M E N T S (A T C O S T )
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
T R A D E I N VE S T M E N T S
(a ) I n ve s tm e n t in E q u ity I n s tru m e n ts (Q u o te d ): *
1 6 , 3 9 4 (I6,934) EquiLy Shares ol I0f- each in
Bharat Gears Ltd. - Fullypaid up 0 . 3 6 0.36
N il (86,867,73I) 0rdinary Shares in NaLional Tyre Service,
Zimbabwe - 49.00
0 . 3 6 49.36
(b ) I n ve s tm e n t in E q u ity I n s tru m e n ts (U n q u o te d ): *
3 1 2 , 0 0 0 (3I2,000) EquiLy Shares ol I0 each in 0reen
Inlra Wind Power Pro|ecLs - Fully paid up 3 . 1 2 3.I2
5 , 5 0 0 (5,500) EquiLy Shares ol I0 each in Suryadev
Alloys and Power Pvt Ltd - Fullypaid up 0 . 5 9 0.59
O T H E R N O N C U R R E N T I N VE S T M E N T S (N O N T R A D E ):
(a ) I n ve s tm e n t in M u tu a l F u n d s **
UniLs ol "UTI Balanced Fund - Dividend Plan -
PeinvesLmenL" *** (Face value ol I0f- each) 2 . 6 0 2.I0
(b ) O th e rs
(i) InvesLmenL in 5 , 0 0 0 (5,000) EquiLy Shares ol
I00f- each in Apollo Tyres Employees MulLipurpose
Co-operativeSocietyLimited 0 . 5 0 0.50
(ii) N il (500,000) 0rdinary Shares in PADUN InvesLmenL
(PrivaLe) LLd, Zimbabwe - I2.35
(iii) InvesLmenL ProperLy 4 6 3 . 1 0 569.I9
(NeL ol accumulaLed depreciaLion ol 2 4 . 6 4 M illio n
( I6.54 Million))
4 7 0 . 2 7 637.2I
* AggregaLe amounL ol quoLed invesLmenLs 0 . 3 6 49.36
AggregaLe markeL value ol lisLed and quoLed invesLmenLs 1 . 1 9 88.48
AggregaLe amounL ol unquoLed InvesLmenLs 6 . 8 1 I8.66

** No. ol uniLs aL Lhe beginning ol Lhe year - 1 6 1 , 8 2 6 (I6I,826) 2 . 1 0 2.I0
Add: Reinvestment of dividend duringtheyear - 1 7 , 7 3 6 (Nil) 0 . 5 0 -
No. of units at theend of theyear - 1 7 9 , 5 6 2 (I6I,826) 2 . 6 0 2.I0
*** Pepurchase price ol uniLs 5 . 2 3 4.09

A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 9 7 1 9 6 | A P O L L O T YR E S L T D
B 7 L O N G T E R M L O A N S & A D VA N C E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
L o n g -T e rm L o a n s & A d va n c e s :
U n s e c u re d , C o n s id e re d G o o d
Capital Advances - Others 6 2 8 . 2 1 294.63
Capital Advances to Related Parties 7 9 . 6 0 I23.89
Doubtful Capital Advances 1 3 4 . 1 8 I34.I8
Less: Provision for Doubtful Advances 1 3 4 . 1 8 I34.I8
7 0 7 . 8 1 4I8.52
SecurityDeposits 6 3 6 . 8 4 38I.I9
SecurityDeposits to Related Parties 4 1 8 . 0 1 4I8.0I
Other Deposit 1 2 6 . 8 5 I40.88
Employee Advances - Salary Loan 1 5 . 0 5 I0.09
0Lher Loans and Advances - Excise DuLy Pecoverable 2 . 5 7 2.57
Share ol |oinL venLures - |oinLly conLrolled enLiLies 0 . 2 4 0.30
1 , 9 0 7 . 3 7 I,37I.56
I n c lu d e s A d va n c e s g ive n to R e la te d P a rtie s (N o te C -1 8 )
Companies in which Directors areinterested 4 9 7 . 6 1 54I.90
B 8 O T H E R N O N -C U R R E N T A S S E T S
I nvestment promotion SubsidyReceivablefrom 3 6 0 . 1 8 2I4.I4
0overnmenL ol Tamil Nadu (NoLe C-4)
3 6 0 . 1 8 2I4.I4
B 9 C U R R E N T I N VE S T M E N T S
N o n T ra d e I n ve s tm e n t
InvesLmenL in MuLual Funds* 1 , 0 0 0 . 0 0 -
1 , 0 0 0 . 0 0 -
* P a rtic u la rs N o . o f U n its Va lu e ( M illio n ) N A V
SBI 20,000,000 200.00 I0.8282
I CI CI 25,000,000 250.00 I0.8336
Reliance 5,000,000 50.00 I0.8027
Birla (SchemeI) 25,000,000 250.00 I0.8358
Birla (Scheme 2) 25,000,000 250.00 I0.8294
1 0 0 , 0 0 0 , 0 0 0 1 , 0 0 0 . 0 0
B 1 0 C U R R E N T A S S E T S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) I N VE N T O R I E S :
(valued aL lower ol cosL and neL realizable value)
(i) Paw MaLerials.
In Hand 3 , 5 1 4 . 7 2 4,6I6.72
In TransiL 9 4 . 7 6 I63.73
3 , 6 0 9 . 4 8 4,780.45
(ii) Work-in-Progress # 9 3 6 . 0 4 I,I30.24
(iii) Finished 0oods.
In Hand 9 , 0 9 9 . 1 9 I0,787.94
In TransiL 1 , 1 2 9 . 8 0 954.73
1 0 , 2 2 8 . 9 9 II,742.67
(iv) BoughL 0uL MaLerial f SLock in Trade.
In Hand 1 , 3 9 9 . 9 6 I,467.65
In TransiL 2 8 0 . 9 1 203.84
1 , 6 8 0 . 8 7 I,67I.49
(v) SLores and Spares 1 , 3 2 6 . 6 8 I,339.39
1 7 , 7 8 2 . 0 6 20,664.24
(b ) T R A D E R E C E I VA B L E S - U N S E C U R E D
0uLsLanding lor a period exceeding six monLhs lrom
thedatetheywereduefor payment:
Considered Good 1 . 1 2 I.25
Considered Doubtful 3 1 4 . 5 9 4I0.88
0Lhers - Considered 0ood* 9 , 5 8 8 . 3 1 I0,425.42
9 , 9 0 4 . 0 2 I0,837.55
Less. Provision lor DoubLlul Trade Peceivables 3 1 4 . 5 9 4I0.88
9 , 5 8 9 . 4 3 I0,426.67
* T ra d e R e c e iva b le s I n c lu d e d u e fro m R e la te d P a rtie s (N o te C -1 8 )
Companies in which Directors areinterested 1 1 3 . 4 9 I58.04
(c ) C A S H A N D C A S H E Q U I VA L E N T S **
(i) Cash on hand 1 . 7 7 3.0I
(ii) Cheques on hand 1 , 1 8 0 . 6 4 874.32
(iii) PemiLLances in TransiL 4 5 2 . 5 5 494.80
(iv) Balances wiLh Banks.
Current Accounts 4 , 0 3 7 . 8 6 2,699.72
Other Deposit Accounts
- 0riginal MaLuriLy 3 monLhs or less 1 9 6 . 1 6 2,375.63
(v) 0Lher Bank Balances.
Unpaid Dividend Accounts 3 5 . 9 1 32.45
Unclaimed Deposits Accounts 1 . 0 7 I.07
DeposiLs wiLh MaLuriLy exceeding 3 MonLhs*** 3 9 . 9 4 58.8I
Share ol |oinL venLures - |oinLly conLrolled enLiLies - 0.69
5 , 9 4 5 . 9 0 6,540.50
** 0uL ol Lhe above balance ol Cash & Cash EquivalenLs, Lhe balance LhaL meeLs Lhe delniLion ol Cash & Cash
EquivalenLs as per AS-3, Cash Flow SLaLemenLs is 5 , 8 6 8 . 9 8 M illio n ( 6,448.I7 Million).
*** Includes DeposiL ol 3 7 . 9 7 M illio n ( 53.83 Million) pledged wiLh a bank againsL which working capiLal loan has
been availed byApollo FinanceLtd, a companyin which directors areinterested.
I ncludes deposits of 1 . 9 7 M illio n ( I.97 Million) which have an original maLuriLy ol more Lhan I2 monLhs.
# Work in Progress consisLs ol AuLomoLive Tyres only.
A N N U A L R E P O R T 2 0 1 4 -1 5 | 1 9 9 1 9 8 | A P O L L O T YR E S L T D
B 1 1 S H O R T T E R M L O A N S & A D VA N C E S
A s a t As at
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
S h o rt-T e rm L o a n s & A d va n c e s :
U n s e c u re d , C o n s id e re d G o o d
Advances given to Related Parties 4 5 . 6 8 80.63
O th e rs :
Trade Advances 7 1 6 . 7 6 I,003.09
Employee Advances 1 2 9 . 4 2 I05.47
CENvAT Pecoverable 1 0 2 . 9 3 I63.98
vAT Pecoverable 5 6 5 . 8 3 652.I8
Service Tax Pecoverable 9 1 . 0 5 75.5I
ExporL IncenLives Pecoverable 1 6 7 . 8 7 252.20
Prepaid Expenses 2 3 3 . 9 7 264.7I
Others 3 3 7 . 2 2 658.66
2 , 3 9 0 . 7 3 3,256.43
Considered Doubtful 2 0 . 5 6 20.56
2 , 4 1 1 . 2 9 3,276.99
Less: Provision for Doubtful Advances 2 0 . 5 6 20.56
2 , 3 9 0 . 7 3 3,256.43
MAT CrediL EnLiLlemenL availed 450.I3 508.65
Less. MAT CrediL uLilised (450.I3) - (58.52) 450.I3
2 , 3 9 0 . 7 3 3,706.56
A d va n c e s g ive n to R e la te d P a rtie s (N o te C -1 8 )
Companies in which Directors areinterested 4 5 . 6 8 80.63

B 1 2 O T H E R C U R R E N T A S S E T S

DerivativeFinancial Assets - 3.99
I nvestment promotion SubsidyReceivablefrom
0overnmenL ol Tamilnadu (NoLe C-4) 3 7 5 . 0 0 375.00
I nterest Accrued on Deposits 0 . 9 6 I.07

3 7 5 . 9 6 380.06
B 1 3 O T H E R O P E R A T I N G I N C O M E
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million

I nvestment promotion SubsidyfromGovernment of
Tamil Nadu (NoLe C-4) 5 2 1 . 0 4 939.I4
Tyres DevelopmenL Fees received lrom cusLomers - 42.I6
Early PaymenL DiscounL Peceived lrom Paw MaLerial Suppliers 7 4 . 4 5 35.22
5 9 5 . 4 9 I,0I6.52
B 1 4 O T H E R I N C O M E

(a I n te re s t e a rn e d o n D e p o s its :
- Bank 1 0 1 . 7 5 I89.I4
- Others 1 3 . 8 5 32.76

(b ) D ivid e n d I n c o m e fro m L o n g T e rm I n ve s tm e n ts :
Bharat Gears Ltd. 0 . 0 2 0.03
UniL TrusL ol India 0 . 5 0 -
0 . 5 2 0.03
(c ) D ivid e n d I n c o m e fro m S h o rt T e rm I n ve s tm e n ts :
Mutual Funds 2 5 . 7 8 92.54
(d ) O th e r N o n -O p e ra tin g I n c o m e :
Unclaimed Credit Balances / Provisions no longer
required wriLLen back 2 0 . 0 0 26.37
Technical Aid Fees 9 . 2 5 I6.20
0ain on Foreign Exchange FlucLuaLion (NeL) 1 1 1 . 0 1 II0.09
Miscellaneous Receipts 2 5 5 . 8 3 5II.33
3 9 6 . 0 9 663.99
5 3 7 . 9 9 978.46
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 0 1 2 0 0 | A P O L L O T YR E S L T D
B 1 5 M A N U F A C T U R I N G A N D O T H E R E XP E N S E S
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
C o s t o f M a te ria ls C o n s u m e d
Raw Materials Consumed 6 4 , 1 8 6 . 1 6 7I,290.66
Less: Scrap Recoveries 3 0 1 . 7 7 223.I8
6 3 , 8 8 4 . 3 9 7I,067.48
P u rc h a s e o f S to c k -in -T ra d e
Purchase ol Finished 0oods - Tyres, Tubes & Flaps 5 , 8 6 9 . 1 7 6,964.58
EmpIoyee Beneñt Expenses
Salaries and Wages 1 3 , 0 4 8 . 7 5 I2,783.40
ConLribuLion Lo ProvidenL and 0Lher Funds (NoLe C-I2) 2 , 1 4 4 . 3 1 2,064.33
Wellare expenses 8 4 8 . 7 7 872.98
Employees SLock AppreciaLion PighLs (NoLe C-I2) 3 . 5 8 78.55
Add. Share in doinL venLure 2 4 . 9 7 I2.68
1 6 , 0 7 0 . 3 8 I5,8II.94
O th e r E x p e n s e s
Consumption of stores and spareparts
I
1 , 1 5 5 . 7 7 I,233.48
Power and Fuel
2
3 , 5 1 3 . 5 4 3,785.23
Conversion Charges 1 , 0 5 3 . 2 5 I,095.I8
Repairs and Maintenance
- Machinery 6 4 6 . 0 0 693.I3
- Buildings 3 4 . 5 7 42.I5
- Others 9 6 4 . 1 2 844.47
Rent
3
3 0 3 . 1 2 285.80
Lease PenL - FacLory f Service Charges (NoLe C-I9) 1 , 2 4 9 . 9 5 I,2I3.74
I nsurance 1 8 4 . 2 7 2I5.6I
PaLes and Taxes 1 9 7 . 1 2 230.75
DirecLors' SiLLing Fees 7 . 4 2 4.36
Commission Lo Non-WholeLime DirecLors 5 0 . 0 0 30.00
Loss on Sale ol Tangible Fixed AsseLs (NeL) 2 3 . 8 6 29.6I
Travelling, Conveyance and vehicle Expenses 1 , 3 2 9 . 3 6 I,357.28
PosLage, Telex, Telephone and SLaLionery 2 2 2 . 6 4 246.82
Conlerence Expenses 3 0 2 . 0 5 I20.39
Freight and Forwarding 4 , 2 3 6 . 6 0 3,990.64
Commission on Sales 6 0 . 5 2 72.44
Sales PromoLion Expenses 9 2 1 . 4 7 525.66
Advertisement and Publicity 1 , 9 9 2 . 4 8 2,227.02
CorporaLe Social PesponsibiliLy Expenses (NoLe C-I5)
4
5 7 . 3 7 37.38
Pesearch and DevelopmenL (NoLe C-9) 1 , 7 1 3 . 9 1 I,380.85
Bank Charges 6 3 . 1 7 92.20
SLaLuLory AudiLors PemuneraLion (NoLe C-I0) 5 7 . 0 5 60.0I
DoubLlul Peceivables f Advances WriLLen oll 4 0 . 2 0 I75.62
Less. Translerred lrom Provision - (I7.I3)
Legal and Prolessional Expenses 7 4 0 . 4 9 656.05
Provision lor ConLingencies (NoLe C-I4(b)) - 425.00
Miscellaneous Expenses 6 9 4 . 6 8 740.99
Share ol |oinL venLures - |oinLly conLrolled enLiLies 3 2 . 9 5 37.33
2 1 , 8 4 7 . 9 3 2I,832.06
1 0 7 , 6 7 1 . 8 7 II5,676.06
N o te s :
I SLores & Spares Consumed includes sLores issued lor repairs 2 . 6 3 M illio n ( I.55 Million).
2 Power and Fuel includes SLores Consumed 5 2 3 . 1 1 M illio n ( 668.08 Million).
3 NeL ol PenL Peceived 1 . 4 5 M illio n ( I.47 Million).
4 CorporaLe Social PesponsibiliLy Expenses includes 0 . 5 5 M illio n available as on March 3I, 20I5 wiLh Lhe
implementation partner to bedeployed in duecourse.
B 1 6 F I N A N C E C O S T S
Ye a r E n d e d Year Ended
M a rc h 3 1 , 2 0 1 5 March 3I, 20I4
M illio n Million
(a ) I n te re s t E x p e n s e :

InLeresL on Fixed-Term Loans 5 2 4 . 6 7 998.33

I nterest on Debentures 5 3 6 . 7 9 736.72

I nterest on Other Loans 7 1 1 . 3 3 I,036.78
(b ) O th e r B o rro win g C o s ts 5 5 . 0 6 65.47

Share ol |oinL venLures - |oinLly conLrolled enLiLies 0 . 0 5 0.64

1 , 8 2 7 . 9 0 2,837.94
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 0 3 2 0 2 | A P O L L O T YR E S L T D
C O T H E R N O T E S O N A C C O U N T S :
1 C o n tin g e n t L ia b ilitie s
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Sales Tax
Income Tax
Claims against theCompanynot acknowledged as debts
- Employee PelaLed
- Others
Provision ol SecuriLy (Bank DeposiLs pledged wiLh a Bank againsL which working
capital loan has been availed byApollo FinanceLtd. , a Companyin which
direcLors are inLeresLed)
Excise DuLy*
7 6 . 1 7
4 5 1 . 3 0

4 8 . 6 4
9 2 . 3 2

3 7 . 9 7
5 7 . 9 3
III.92
I80.46

5I.02
32.52

53.83
363.55
* Excludes demand ol 5 3 2 . 1 2 M illio n ( 532.I2 Million) raised on one ol Lhe Company's uniLs relaLing Lo issues
which have been decided by Lhe AppellaLe AuLhoriLy in Company's lavour in appeals perLaining Lo anoLher uniL ol Lhe
Company. Show-cause notices received fromvarious Government Agencies pending formal demand notices have
not been considered as contingent liabilities.
AmounL invloved in appeals which have been decided by AppellaLe auLhoriLies in company's lavour buL on which Lhe
department has goneon further appeal of 4 4 1 . 6 6 M illio n ( 44I.66 Million).
I n the opinion of the management, no provision is considered necessary for the disputes mentioned above on the
ground that therearefair chances of successful outcomeof appeals.
2 C o m m itm e n ts
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
EsLimaLed amounL ol conLracLs remaining Lo be execuLed on capiLal accounL & noL
provided for

3 2 , 8 6 4 . 6 7

2,684.3I
T O T A L 3 2 , 8 6 4 . 6 7 2,684.3I
3 The Company has inLernaLional LransacLions wiLh relaLed parLies. For Lhe currenL year, Lhe managemenL conlrms
LhaL iL mainLains documenLs as prescribed by Lhe Income Lax AcL, I96I Lo prove LhaL Lhese inLernaLional
LransacLions are aL arm's lengLh and Lhe aloresaid legislaLion will noL have any impacL on Lhe lnancial sLaLemenLs,
parLicularly on Lhe amounL ol Lax expense and LhaL ol provision lor LaxaLion.
4 I n ve s tm e n t P ro m o tio n S u b s id y fro m G o ve rn m e n t o f T a m iln a d u
The Company has esLablished radial Lyre manulacLuring laciliLy in SIPC0T IndusLrial Park, 0ragadam near Chen-
nai and availed incenLives lrom Lhe SLaLe 0overnmenL ol Tamil Nadu lor esLablishing such pro|ecL. The consLrucLion
ol lrsL phase ol Lhe new green leld radial Lyre planL was compleLed as per pro|ecL schedule, which commenced
operaLions lrom March II, 20I0. The Truckf Bus radial segmenL has commenced operaLions lrom May II, 20I0.
PursuanL Lo Lhe Memorandum ol UndersLanding (MoU) daLed AugusL 7, 2006 read along wiLh a SupplemenLary
M0U daLed danuary II, 20II, execuLed beLween Lhe 0overnmenL ol Tamil Nadu (0oTN) and Lhe Company, 0oTN
sancLioned a SLrucLured Package ol AssisLance Lo Lhe Company in Lerms ol Lhe New IndusLrial Policy, 2007. As
per Lhis SLrucLured Package ol AssisLance, Lhe Company is enLiLled, inLeralia, lor relund ol an amounL equal Lo NeL
0uLpuL vAT + CST paid by Lhe Company Lo 0oTN in Lhe lorm ol InvesLmenL PromoLion Subsidy lor a period ol I4
years (which can be exLended by anoLher 4 years), lrom Lhe daLe ol commencemenL ol commercial producLion or
Lill Lhe cumulaLive availmenL ol Lhe said subsidy reaches 50º ol Lhe invesLmenL made in eligible lxed asseLs during
Lhe approved invesLmenL period as delned by Lhe MoU, whichever is earlier. This eligibliLy is sub|ecL Lo lullllmenL
of certain obligations bytheCompany.
The Company lulllled Lhe relevanL obligaLions during Lhe previous year and Lhe Company has recognized subsidy
incomeof 5 2 1 . 0 4 M illio n ( 939.I4 Million) as oLher operaLing income (reler noLe BII), being Lhe eligible amounL
ol relund ol NeL 0uLpuL vAT + CST paid by Lhe Company Lo 0oTN. Subsidy recorded during Lhe previous year rep-
resenLs subsidy lrom Lhe daLe ol commencemenL ol commercial producLion Lill March 3I, 20I4. Based on Lhe legal
opinion obLained by Lhe Company, Lhe said subsidy is considered non-Laxable capiLal receipL.
5 C a p ita l S u b s id y
As per New IndusLrial Policy 2007, new and expansion uniLs invesLing 2,000 Million and above and employing
more Lhan 400 direcL workers will be eligible lor a back ended capiLal subsidy ol I5 Million. FurLher manulacLuring
uniLs locaLed wiLhin a SIPC0T IndusLrial park will be eligible lor an addiLional 50º capiLal subsidy over and above
theeligiblelimit. Duringtheyear, theCompanyreceived thecapital subsidyof 22.50 Million on lulllling Lhe eligibil-
iLy condiLions which has been crediLed Lo capiLal subsidy disclosed under Peserves & Surplus.
6 E x c e p tio n a l I te m s
During Lhe year, Apollo Tyres Alrica (PLy) LimiLed, a subsidiary operaLing in SouLh Alrica has underLaken Lhe lollow-
ingactivities in connection with its restructuringprocess:
a) IniLiaLed Business Pescue Proceedings and Lhe Pescue Plan was approved on November 05, 20I4 and Lhe planL
was closed on November 30, 20I4. All dues Lo bankers and exLernal suppliers have been paid in lull as per Lhe
Pescue plan. A separaLe reLrenchmenL agreemenL lor employees' due was also signed wiLh Lheir represenLaLives on
danuary 30, 20I5 and Lhe enLire liabiliLy ol 75I.73 Million under Lhis agreemenL has been lully discharged.
b) Disposed oll iLs invesLmenL in UK ATL Holdings LimiLed and recorded a prolL ol I43.86 Million. As parL ol Lhe
saleagreement, theCompanyhas agreed not to haveanyclaimagainst receivables fromoneof its subsidiaryApollo
Tyres Zimbabwe and has, accordingly, wriLLen oll debLs amounLing Lo I40.43 Million.
c) IL has evaluaLed markeLabiliLy ol invenLory and wriLLen oll ol InvenLory worLh 76.60 Million in Lhe books.
ExcepLional iLem ol 467.86 Million during Lhe previous year represenLs expenses aggregaLing Lo 2 , 3 2 6 . 3 0
M illio n in connecLion wiLh Lhe proposed acquisiLion ol Cooper Tire & Pubber Company (Cooper) which was
LerminaLed by Cooper on December 30, 20I3 neL ol ProlL on sale ol LadysmiLh planL in SouLh Alrica amounLing Lo
I,858.44 Million.
7 I s s u e o f S h a re s o n C o n ve rs io n o f S h a re Wa rra n ts :
The company had alloLed 5,000,000 warranLs, converLible inLo 5,000,000 equiLy shares ol I each Lo a promoLer
0roup Company on 2IsL December 20I2, on a prelerenLial alloLmenL basis, pursuanL Lo SecLion 8I (IA) ol Lhe
Companies AcL, I956, aL a conversion price ol 86.20 per share deLermined in accordance wiLh Lhe SEBI (Issue ol
CapiLal and Disclusure PequiremenLs) PegulaLions, 2009. An amounL equivalenL Lo 25º ol Lhe price aggregaLing Lo
I07.75 Million was received on alloLmenL ol Lhe warranLs in Lhe previous year. 0n receipL ol Lhe balance amounL ol
323.25 Million on dune I9, 20I4, Lhe company has alloLLed 5,000,000 equiLy shares ol I each as a premium ol
85.20 per share.
8 During Lhe year, pursuanL Lo Lhe noLilcaLion ol Schedule II Lo Lhe Companies AcL, 20I3 wiLh ellecL lrom April I,
20I4, Lhe company revised Lhe esLimaLed uselul lile ol iLs asseLs Lo align Lhe uselul lile wiLh Lhose speciled in
scheduleI I .
PursuanL Lo Lhe LransiLion provision prescribed in Schedule II Lo Lhe Companies AcL, 20I3, Lhe company has lully
depreciated the carrying value of assets, net of residual value, where the remaining useful life of the assets is
deLermined Lo be nil as on April I, 20I4 and has ad|usLed an amounL ol 2 5 8 . 1 8 M illio n (neL ol delerred Lax ol
I32.94 Million) againsL Lhe opening surplus balance in Lhe CondolidaLed SLaLemenL ol ProlL & Loss under Peserves & Surplus.
The depreciaLion expense in Lhe CondolidaLed SLaLemenL ol ProlL & Loss lor Lhe year is lower by 64.95 Million
consequenL Lo Lhe change in Lhe uselul lile ol Lhe asseLs.
9 R e s e a rc h a n d D e ve lo p m e n t c o m p ris e s o f th e fo llo win g :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
(A ) R e ve n u e E x p e n d itu re
Materials
Employee BenelL Expenses
Travelling Expenses
Others

8 4 . 8 6
9 0 3 . 5 1
8 5 . 2 1
6 4 0 . 3 3

98.57
745.80
I3.I0
523.38
S U B - T O T A L 1 , 7 1 3 . 9 1 I,380.85
(B ) C a p ita l E x p e n d itu re 7 2 0 . 5 0 409.37
T O T A L (A +B ) 2 , 4 3 4 . 4 1 I,790.22
1 0 S ta tu to ry A u d ito rs ’ R e m u n e ra tio n :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
For Audit
For CompanyLaw matters
For Other Services
For 0uarLerly Peview and CerLilcaLion
5 0 . 2 0
0 . 4 0
2 . 6 0
3 . 8 5
52.72
0.30
4.79
2.20
T O T A L 5 7 . 0 5 60.0I
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 0 5 2 0 4 | A P O L L O T YR E S L T D
1 1 D ire c tly a ttrib u ta b le e x p e n s e s c a p ita lis e d / in c lu d e d in c a p ita l wo rk in p ro g re s s d u rin g th e ye a r:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Raw Materials Consumed
Salaries, Wages and Bonus
Contribution to Provident and Other Funds
Wellare Expenses
Rent
Travelling, Conveyance and vehicle expenses
PosLage, Telex Telephone and SLaLionery
Power Expenses
Legal & Prolessional Expenses
Miscellaneous Expenses
1 0 . 7 6
3 . 3 5
-
4 . 9 4
1 . 4 5
4 . 0 4
0 . 2 0
1 . 6 4
0 . 5 5
0 . 7 2
I5.39
63.86
4.22
4.5I
0.78
4.56
0.26
3.40
0.33
5.I4
T o ta l 2 7 . 6 5 I02.45
12 EmpIoyee Beneñts
A . I n d ia n O p e ra tio n s
Deñned Contribution PIans:
a . S u p e ra n n u a tio n P la n : The Company conLribuLes a sum equivalenL Lo I5º ol Lhe eligible employees salary Lo a
superannuaLion lund adminisLered and mainLained by Lile Insurance CorporaLion ol India (LIC). The Company has
no liabiliLy lor luLure superannuaLion lund benelLs oLher Lhan iLs annual conLribuLion and recognizes such conLribu-
Lions as an expense in Lhe year incurred. The amounL ol conLribuLion paid by Lhe company Lo SuperannuaLion Fund
is 5 9 . 8 3 M illio n ( 57.I5 Million).
b . P ro vid e n t F u n d : ConLribuLions are made Lo Lhe company's Employees ProvidenL Fund TrusL f Pegional ProvidenL
Fund in accordance wiLh Lhe lund rules. The inLeresL raLe payable Lo Lhe benelciaries every year is being noLiled by
theGovernment.
In Lhe case ol conLribuLion Lo Lhe TrusL, Lhe Company has an obligaLion Lo make good Lhe shorLlall, il any, beLween
Lhe reLurn lrom Lhe invesLmenLs ol Lhe TrusL and Lhe noLiled inLeresL raLe and recognizes such obligaLion as an
expense.
The amounL ol conLribuLion made by Lhe Company Lo Employees ProvidenL Fund TrusLfPegional ProvidenL Fund is
2 1 5 . 9 6 m illio n ( I92.37 million)
Deñned Beneñt PIans:
G ra tu ity
The Companyhas a delned benelL graLuiLy plan. Every employee who has compleLed lve years or more ol service
receives graLuiLy on leaving Lhe Company aL I5 days salary (lasL drawn salary) lor each compleLed year ol service.
The scheme is lunded wiLh Lile Insurance CorporaLion ol India.
The lollowing Lable summarizes Lhe componenLs ol neL benelL expense recognized in Lhe consolidaLed sLaLemenL
ol prolL and loss and Lhe lunded sLaLus and amounLs recognized in Lhe consolidaLed balance sheeL lor Lhe
respectiveplan:
ConsoIidated Statement of Proñt and Loss:
Net empIoyee beneñt expenses
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Current servicecost
InLeresL cosL on benelL obligaLion
ExpecLed reLurn on plan asseLs
CurLailmenL CosL f (CrediL)
SeLLlemenL CosL f (CrediL)
NeL acLuarial loss recognized in Lhe year
Expense recognized in Lhe ConsolidaLed SLaLemenL ol ProlL and Loss
5 6 . 3 9
6 1 . 0 1
(5 7 . 9 5 )
-
-
1 3 8 . 8 0
1 9 8 . 2 5
44.92
48.46
(54.39)
-
-
9.44
48.43
ActuaI Contribution and Beneñt payments for the year
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Actual Contributions
AcLual BenelL PaymenLs
4 8 . 7 2
(8 2 . 6 6 )
45.I8
(65.8I)
C o n s o lid a te d B a la n c e S h e e t:
N e t A s s e t / (L ia b ility) re c o g n is e d in th e C o n s o lid a te d B a la n c e S h e e t in c lu d in g e x p e rie n c e a d ju s tm e n t im p a c t
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
2 0 1 2 -1 3
M illio n
2 0 1 1 -1 2
M illio n
2 0 1 0 -1 1
M illio n
PresenL value ol delned benelL
obligation at theend of theyear
Fair valueof plan assets at theend of
theyear
AsseLf(LiabiliLy) recognized in Lhe
consolidated balancesheet
Experience Ad|usLmenL ol
obligaLion - (0ain) f Loss
Experience Ad|usLmenL ol plan
asseLs - 0ain f (Loss)

8 5 2 . 8 0

6 5 4 . 5 5

(1 9 8 . 2 5 )

7 5 . 9 9

(1 . 8 5 )

68I.75

633.32

(48.43)

30.02

(3.84)

646.I7

600.99

(45.I8)

9.36

0.3I

603.76

527.65

(76.II)

42.04

I.75

5I9.73

437.82

(8I.9I)

5I.03

2.36

Changes in the present vaIue of the deñned beneñt obIigation are as foIIows:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Present valueof obligations as at thebeginningof theyear
I nterest cost
Current servicecost
BenelLs paid
Actuarial loss on obligation
6 8 1 . 7 5
6 1 . 0 2
5 6 . 3 9
(8 2 . 6 7 )
1 3 6 . 3 1
646.I7
48.46
44.92
(65.8I)
8.0I
Present valueof obligations as at theend of theyear 8 5 2 . 8 0 68I.75

C h a n g e s in th e fa ir va lu e o f p la n a s s e ts a re a s fo llo ws :
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Fair valueof plan assets at beginningof theyear
ExpecLed reLurn on plan asseLs
Contributions
BenelLs paid
Actuarial gain on plan assets
6 3 3 . 3 2
5 7 . 9 5
4 8 . 4 4
(8 2 . 6 7 )
(2 . 4 9 )
600.99
54.39
45.I8
(65.8I)
(I.43)
Fair valueof plan assets as at theend of theyear 6 5 4 . 5 5 633.32
The 0roup's graLuiLy lunds are managed by Lhe Lile Insurance CorporaLion ol India and Lherelore Lhe composiLion
of thefund assets is not presentlyascertained.

P rin c ip a l a c tu a ria l a s s u m p tio n s fo r G ra tu ity:
P A R T I C U L A R S 2 0 1 4 -1 5
R a te (% )
2 0 1 3 -1 4
R a te (% )
a) DiscounL raLe
b) FuLure salary increase*
c) ExpecLed raLe ol reLurn on plan asseLs
8 . 0 0
6 . 0 0
9 . 1 5
8.95
6.00
9.05
* The esLimaLes ol luLure salary increase Lake inLo accounL inlaLion, senioriLy, promoLion and oLher relevanL lacLors.
EsLimaLed amounL ol conLribuLion in Lhe immediaLe nexL year is 9 8 . 7 2 M illio n ( 68.07 Million).

A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 0 7 2 0 6 | A P O L L O T YR E S L T D
D e m o g ra p h ic A s s u m p tio n s fo r G ra tu ity:
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
a) PeLiremenL Age (Years)
b) MorLaliLy Table
c) Ages

Up Lo 30 Years
From 3I Lo 44 Years
Above 44 Years
5 8
I A L M (2 0 0 6 -
0 8 )
With d ra wa l
R a te (% )
3 . 0 0
2 . 0 0
1 . 0 0
58
IALM (2006-
08)
WiLhdrawal
PaLe (º)
3.00
2.00
I.00

Dther Long Term EmpIoyee Beneñts:
L o n g T e rm C o m p e n s a te d A b s e n c e s
A c tu a ria l A s s u m p tio n s fo r L o n g te rm c o m p e n s a te d a b s e n c e s :
P A R T I C U L A R S 2 0 1 4 -1 5
R a te (% )
2 0 1 3 -1 4
R a te (% )
a) DiscounL raLe
b) FuLure salary increase*
8 . 0 0
6 . 0 0
8.95
6.00
* The esLimaLes ol luLure salary increase Lake inLo accounL inlaLion, senioriLy, promoLion and oLher relevanL lacLors.

D e m o g ra p h ic A s s u m p tio n s fo r L o n g te rm c o m p e n s a te d a b s e n c e s :
P A R T I C U L A R S 2 0 1 4 -1 5
R a te (% )
2 0 1 3 -1 4
R a te (% )
a) PeLiremenL Age (Years)
b) MorLaliLy Table
c) Ages

Up Lo 30 Years
From 3I Lo 44 Years
Above 44 Years
5 8
I A L M (2 0 0 6 -0 8 )
With d ra wa l
R a te (% )
3 . 0 0
2 . 0 0
1 . 0 0
58
IALM (2006-08)
WiLhdrawal
PaLe (º)
3.00
2.00
I.00
E m p lo ye e s P h a n to m S to c k P la n 2 0 1 0
a) During Lhe year 20I0-II, Lhe company had announced Cash-seLLled Employee Share-based PaymenL Plan (PhanLom
SLock Plan) lor Lhe eligible employees ol Lhe company. Under Lhe scheme, I,200,000 phanLom sLock uniLs have been
granLed on IsL April 20I0, 900,000 PhanLom sLock uniLs have been granLed on IsL April 20II and anoLher 75,000
UniLs have been granLed on IsL April 20I2 by Lhe board appoinLed commiLLee. All Lhree opLions will be vesLed as per
thefollowingschedule:
P e rc e n ta g e o f G ra n t Ve s tin g S c h e d u le
25º 0n IsL anniversary ol respecLive granL daLe
25º 0n 2nd anniversary ol respecLive granL daLe
25º 0n 3rd anniversary ol respecLive granL daLe
25º 0n 4Lh anniversary ol respecLive granL daLe
PursuanL Lo Lhe above scheme, Lhe eligible employees are enLiLled Lo geL cash compensaLion upon exercise ol Lhe
phantomstock unit within seven years of thevestingdate.
b) DeLails ol Lhe expense recognized during Lhe year and ouLsLanding phanLom sLock uniLs ol Lhe Company under Lhe
PhanLom SLock Plan 20I0 are as under.
P A R T I C U L A R S A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
Dateof Grant
PhantomStock Units
Outstanding
PhantomStock Units
exercised
Exercise Price ol Share ( )
MarkeL Price ol Share ( )
Fair value ol Share ( )
Amount charged to
Consolidated Statement of
ProlL & Loss (Included in
NoLe - B I3 - Employee Ben-
elLs Expense)
LiabiliLy as on 3I.03.20I5
(Included in NoLe - B 4 (Trade
Payables))
0I.04.20I0
-
I,200,000
-
-
-
-
-
0I.04.20II
29I,250
608,750
50.00
I68.25
I26.77
3.09
Million
37.74
Million
0I.04.20I2
75,000
-
50.00
I68.25
I25.76
0.49
Million
8.3I
Million
0I.04.20I0
300,000
900,000
50.00
I59.30
II6.95
27.24
Million
32.79
Million
0I.04.20II
552,500
347,500
50.00
I59.30
II7.25
46.I2
Million
54.24
Million
0I.04.20I2
75,000
-
50.00
I59.30
II8.I9
5.I9
Million
6.50
Million

PhantomStock outstandingunits summarysheet is as follows -
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 2 -1 3
OpeningPhantomStock Units
Number of Units issued duringtheyear
Number ol UniLs vesLed during Lhe year
ClosingPhantomStock units
9 2 7 , 5 0 0
-
5 6 1 , 2 5 0
3 6 6 , 2 5 0
I,486,250
-
558,750
927,500
2,030,000
75,000
6I8,750
I,486,250

The deLails ol variables used lor Fair valuaLion are given in Lhe Lable below.
G ra n t d a te A p ril 1 , 2 0 1 0
R e m e a s u re m e n t d a te Ve s t 1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 1 A p ril 1 , 2 0 1 2 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4
Va ria b le s
SLock Price ( )
volaLiliLy
Risk-FreeRate
Exercise Price ( )
Time To MaLuriLy (In Years)
Dividend yield
The opLions lrom vesL I ,vesL 2, vesL 3 & vesL 4 have been compleLely
exercised and Lherelore don'L have Lo be valued
F a ir Va lu e p e r ve s t ( )
vesLing º
O p tio n F a ir Va lu e ( )

G ra n t d a te A p ril 1 , 2 0 1 1
R e m e a s u re m e n t d a te Ve s t 1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 2 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4 A p ril 1 , 2 0 1 5
Va ria b le s
SLock Price ( )
volaLiliLy
Risk-FreeRate
Exercise Price ( )
Time To MaLuriLy (In Years)
Dividend yield
The 0pLions lrom vesL I & vesL 2
have been compleLely exercised and
Lherelore don'L have Lo be valued
I68.25
42.67º
7.82º
50.00
3.00
0.86º
I68.25
42.67º
7.80º
50.00
3.5I
0.86º
F a ir Va lu e p e r ve s t ( ) 1 2 7 . 4 0 1 2 6 . 1 4
vesLing º 50.00º 50.00º
O p tio n F a ir Va lu e ( ) 1 2 6 . 7 7
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 0 9 2 0 8 | A P O L L O T YR E S L T D

G ra n t d a te A p ril 1 , 2 0 1 2
R e m e a s u re m e n t d a te Ve s t 1 Ve s t 2 Ve s t 3 Ve s t 4
M a rc h 3 1 , 2 0 1 5 A p ril 1 , 2 0 1 3 A p ril 1 , 2 0 1 4 A p ril 1 , 2 0 1 5 A p ril 1 , 2 0 1 6
Va ria b le s
SLock Price ( )
volaLiliLy
Risk-FreeRate
Exercise Price ( )
Time To MaLuriLy (In Years)
Dividend yield

I68.25
43.58º
7.83º
50.00
2.50
0.86º

I68.25
42.52º
7.82º
50.00
3.00
0.86º

I68.25
42.67º
7.8Iº
50.00
3.5I
0.86º

I68.25
43.I9º
7.80º
50.00
4.5I
0.86º
F a ir Va lu e p e r ve s t ( ) 1 2 4 . 0 2 1 2 5 . 0 2 1 2 6 . 0 4 1 2 7 . 9 6
vesLing º 25.00º 25.00º 25.00º 25.00º
O p tio n F a ir Va lu e 1 2 5 . 7 6
Phantom Stock Scheme - Proforma Statement of ConsoIidated Statement of Proñt and Loss and EPS
Had compensaLion cosL lor Lhe PhanLom SLock uniLs granLed under Lhe Scheme been deLermined based on lair value
approach, Lhe Company's neL prolL and earnings per share would have been as per Lhe prolorma amounLs indicaLed
below:
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
Impact on Net Proñt ( M illio n )
NeL ProlL (As reporLed)
Add.- Cash based employee compensaLion expense included in neL prolL
Less.- Cash based compensaLion expense deLermined under lair value based
meLhod (Prolorma)
NeL ProlL (Prolorma)

9 , 7 7 6 . 0 9
3 . 5 8
4 9 . 0 2

9 , 7 3 0 . 6 5

I0,050.58
78.55
70.8I

I0,058.32
I m p a c t o n E a rn in g s p e r S h a re ( )
Basic Earnings per Share ol I Each (As reporLed)
Basic Earnings per Share ol I Each (Prolorma)
D ilu te d
DiluLed Earnings per Share ol I Each (As reporLed)
DiluLed Earnings per Share ol I Each (Prolorma)

1 9 . 2 5
1 9 . 1 6

1 9 . 2 3
1 9 . 1 4

I9.94
I9.96

I9.9I
I9.93
The Fair value ol 0pLions used Lo compuLe prolorma neL prolL and earnings per EquiLy Share have been esLimaLed
on thedateof thegrants usingBlack-Scholes model byan independent consultant.
B . S o u th A fric a O p e ra tio n s
A p o llo D u rb a n (P ty) L td
P o s t-e m p lo ym e n t m e d ic a l o b lig a tio n
The 0roup's liabiliLy in respecL ol Lhe posL-employmenL medical obligaLion has been acLuarially valued aL
1 2 9 . 2 0 M illio n ( I4I.0I Million) aL March 3I, 20I5. The acLuarial valuaLion perlormed has been based on Lhe
followingassumptions:
a) a healLh care cosL inlaLion raLe ol 7 . 6 0 % p.a. (7.60 º p.a)
b) a discounL raLe ol 8 . 6 0 % p.a. (8.60 º p.a)
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
OpeningBalance
InLeresL cosL recognized in income sLaLemenL in currenL period
HealLh care cosL inlaLion
BenelL PaymenLs
AcLuarial loss (gain) recognized in consolidaLed sLaLemenL ol prolL and loss in
current period
Miscellaneous (including basis and daLa changes)
1 4 1 . 0 1
8 . 4 7
-
(1 0 . 5 7 )

2 . 1 6
(1 1 . 8 7 )
I65.22
II.72
-
(I5.25)

2.I9
(22.87)
Closingbalance 1 2 9 . 2 0 I4I.0I

S e n s itivity o f h e a lth c a re c o s t
For every If2º sLrengLheningfweakness ol invesLmenL reLurns, relaLive Lo medical aid inlaLion, Lhe liabiliLy is calcu-
lated to decrease/increase by 4 . 6 7 /5 . 0 8 M illio n ( 5.I0f5.66 Million) lrom Lhe reporLed level ol 1 2 9 . 2 0 M illio n
( I4I.0I Million). Similarly lor every Iº increasefdecrease in medical aid inlaLion, relaLive Lo invesLmenL reLurns, Lhe
liabilityis calculated to increase/decreaseby 8 . 8 2 /8 . 3 0 M illio n ( I0.76f9.06 Million).
C.      European Dperations
Apollo Tyres CooperaLiel U.A. has as aL March 3I, 20I5 one delned benelL plan. The pension liabiliLy as
recorded in Lhe consolidaLed balance sheeL relaLes Lo Lhe delned benelL plan ol Apolllo vredesLein 0mbH and
Lhe conLribuLions relaLed Lo Lhe delned conLribuLion plan ol Apollo vredesLein in Lhe B.v. NeLherlands. For Lhe
delned benelL plan ol Apollo vredesLein 0mbh an acLuarial calculaLion was perlormed by an acLuary ol a cerLiled
acLuarial lrm.
ExLracLs ol laLesL balance sheeL ol Lhe lunds are as lollows .
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n P e n s io n lia b ilitie s
Delned benelL plan
Delned conLribuLion plan
At end of theyear
5 8 2 . 7 9
2 7 2 . 0 7
8 5 4 . 8 5
538.39
46I.07
999.46

P A R T I C U L A R S
2 0 1 4 -1 5 2 0 1 3 -1 4
A s s u m p tio n s A p o llo Vre d e s te in G M B H
Activeemployeemembers
Number
Averageage
Averagefutureservice
InlaLion
IndexaLion non-acLive members
Mortalitytable
Individual Salary Increase (dependenL on age)
Discount rate

35 
4 6 . 6
15.1 
1 . 7 5 %
1 . 7 5 %
H e u b e c k 2 0 0 5 G
3 %
3 . 1 0 %

38
46.6
I5.I
I.75º
I.75º
Heubeck 20050
3º
3.I0º
ConsoIidated Statement of Proñt and Loss:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n Net empIoyee beneñt expenses (recognized in empIoyee cost)
Current servicecost
InLeresL cosL on benelL obligaLion
ExpecLed reLurn on plan asseLs
NeL acLuarial loss recognized in Lhe year
Administration Cost
1 2 . 3 4
1 5 . 4 4
-
1 4 8 . 3 3
-
I5.00
I6.94
-
I,53I.05
-
NeL benelL expense 1 7 6 . 1 1 I,562.99

C o n s o lid a te d B a la n c e S h e e t:
P A R T I C U L A R S 2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n R e c o n c ilia tio n o f p re s e n t va lu e o f th e o b lig a tio n a n d th e fa ir va lu e o f
p la n a s s e ts
Present valueof funded obligation at theend of theyear
Fair valueof plan assets at theend of theyear
AsseLf(LiabiliLy) recognized in Lhe consolidaLed balance sheeL
Experience Ad|usLmenL ol obligaLion - (0ain) f Loss
Experience Ad|usLmenL ol plan asseLs - 0ain f( Loss)
(5 8 2 . 7 5 )
-
(5 8 2 . 7 5 )
-
-
(538.36)
-
538.36
-
-

Changes in the present vaIue of the deñned beneñt obIigation are as foIIows:
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Present valueof obligations as at thebeginningof theyear
I nterest cost
Current servicecost
Contribution byemployees
BenelLs paid
AcLuarial (gain)floss on obligaLion
Settlement of theobligation
Present valueof obligations as at theend of theyear
5 3 8 . 3 6
1 5 . 4 4
1 2 . 3 4
(1 8 . 7 0 )
1 4 8 . 3 3
(1 1 3 . 0 2 )
-
5 8 2 . 7 5
383.I3
I6.94
I5.00
(I8.6I)
49.48
92.42
-
538.36
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 1 1 2 1 0 | A P O L L O T YR E S L T D
1 3 (a ) T h e c o m p o n e n ts o f D e fe rre d T a x L ia b ilitie s (N e t) a re a s fo llo ws :
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
D e fe rre d T a x L ia b ilitie s o n tim in g d iffe re n c e s a ris in g o n :
Depreciation
Others

5 , 2 1 5 . 1 0
3 2 5 . 1 1

5,09I.22
483.8I
S u b T o ta l (A ) 5 , 5 4 0 . 2 1 5,575.03
D e fe rre d T a x A s s e ts o n tim in g d iffe re n c e s a ris in g o n :
PaymenL under volunLary PeLiremenL Scheme
Provision lor 0raLuiLy and Leave EncashmenL
Provision for Doubtful Debts / Advances
Other Provisions
Assessed loss
Others

2 . 6 0
1 1 3 . 8 7
1 5 . 5 6
-
-
1 9 9 . 2 3

3.75
92.74
I5.29
95.45
0.9I
8.47
S u b T o ta l (B ) 3 3 1 . 2 6 2I6.6I
N e t D e fe rre d T a x L ia b ilitie s (A -B ) 5 , 2 0 8 . 9 5 5,358.42
T h e c o m p o n e n ts o f D e fe rre d T a x A s s e ts (N e t) a re a s fo llo ws :
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
D e fe rre d T a x A s s e ts o n tim in g d iffe re n c e s a ris in g o n :
Assessed loss
Others

2 1 7 . 0 5
2 5 2 . 5 3

I7.46
99.54
S u b T o ta l (A ) 4 6 9 . 5 8 II7.00
D e fe rre d T a x L ia b ilitie s o n tim in g d iffe re n c e s a ris in g o n :
Tangible Fixed AsseLs
Others

1 4 4 . 9 4
2 7 . 6 9

-
-
S u b T o ta l (B ) 1 7 2 . 6 3 -
N e t D e fe rre d T a x A s s e ts (A -B ) 2 9 6 . 9 5 II7.00

1 3 (b ) The provision lor Lax lor Lhe year has been deLermined based on Lhe provisions ol oLher Lhan II5dB ol Lhe Income
Tax AcL, I96I. For deLermining Lhe said provision, Lhe Company has considered deducLion under secLion 35 (2AB)
in respecL ol Lhe expendiLure incurred lor iLs P&D acLiviLies in Lhe P&D CenLre aL Chennai, alLhough Lhe Company's
applicaLion lor Lhe approval ol Lhis cenLer is pending belore DSIP, as Lhe Company is conldenL ol obLaining Lhe ap-
proval belore lling Lhe reLurn ol income lor Lhe lnancial year 20I4-I5.
1 4 a) Provision lor Sales PelaLed 0bligaLion represenLs esLimaLes lor paymenLs Lo be made in luLure. Ma|or porLion
ol Lhese cosLs is esLimaLed Lo be paid in Lhe nexL lnancial year and will be paid wiLhin
a maximum ol 3 years lrom Lhe balance sheeL daLe.
M illio n
O p e n in g B a la n c e a s a t
0 1 . 0 4 . 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vis io n
d u rin g th e ye a r
C lo s in g B a la n c e
a s a t 3 1 . 0 3 . 2 0 1 5
2 , 0 1 7 . 3 5 4 , 0 6 5 . 4 7 3 , 9 2 3 . 8 0 2 , 1 5 9 . 0 1
1 4 b) The Company carries a general provision lor conLingencies Lowards various claims againsL Lhe Company noL
recognised as debt. M illio n
O p e n in g B a la n c e a s a t
0 1 . 0 4 . 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vis io n
d u rin g th e ye a r
C lo s in g B a la n c e
a s a t 3 1 . 0 3 . 2 0 1 5
4 2 5 . 0 0 - - 4 2 5 . 0 0
1 4 c) Provision lor consLrucLive liabiliLy arising on accounL ol lease conLracLs which are payble over Lhe period
of 7years areas follows.
M illio n
O p e n in g B a la n c e a s a t
0 1 . 0 4 . 2 0 1 4
A d d itio n a l p ro vis io n
m a d e d u rin g th e ye a r
I n c u rre d a g a in s t p ro vis io n
d u rin g th e ye a r
C lo s in g B a la n c e
a s a t 3 1 . 0 3 . 2 0 1 5
8 2 . 9 9 3 6 . 3 6 1 8 . 0 4 1 0 1 . 3 1
1 5 E x p e n d itu re to wa rd s C o rp o ra te S o c ia l R e s p o n s ib ility (C S R ) A c tivitie s :
M illio n
N a tu re o f A c tivitie s I m p le m e n tin g A g e n c y/ P a rtn e r A m o u n t
PromoLing PrevenLive HealLh Apollo Tyres FoundaLion 30.96
Ensuring environmenLal susLainabiliLy Apollo Tyres FoundaLion 7.74
Livelihood enhancemenL pro|ecLs Apollo Tyres FoundaLion 3.3I
Pural DevelopmenL pro|ecLs Apollo Tyres FoundaLion 3.85
PromoLing EducaLion Apollo Tyres FoundaLion I.88
PromoLing PrevenLive HealLh Zeus ChariLable FoundaLion 3.00
PromoLing EducaLion Zeus ChariLable FoundaLion 3.2I
EradicaLion hunger, poverLy & malnuLriLion Zeus ChariLable FoundaLion 0.07
ConLribuLion Lo Corpus ol a LrusL creaLed exclusively lor underLaking CSP acLiviLies 0.I0
5 4 . 1 2
Add. AdminisLraLive CosL _5º 2.70
T o ta l 5 6 . 8 2
AmounL required Lo be spenL ufs I35 ol Lhe Companies AcL, 20I3 8 4 . 7 4
S h o rtfa ll in s p e n d 2 7 . 9 2
1 6 a) Following are Lhe lorward exchange conLracLs |being derivaLive insLrumenLs], which are noL inLended lor Lrading
or speculaLive purposes buL lor hedge purposes Lo esLablish Lhe amounL ol reporLing currency required or available
aL Lhe seLLlemenL daLe ol cerLain payables and receivables. The lollowing lorward exchange conLracLs enLered inLo
by Lhe 0roup are ouLsLanding as on March 3I, 20I5.
2 0 1 4 -1 5 M illio n
C u rre n c y A m o u n t B u y/S e ll C ro s s C u rre n c y
United States Dollar
EUP0
S U B S I D I A R I E S
United States Dollar
Great British Sterling
Swedish Krona
Swiss Francs
Norwegian Kroner
Polish ZloLych
Hungarian ForinL
USD
EUP0

USD
GBP
SEK
CHF
NOK
PLZ
HUF
74.00
6.00

I7.94
2.60
22.I7
2.23
7.20
6.98
I57.33
Buy
Sell

Buy
Buy
Buy
Buy
Buy
Buy
Buy
I NR
I NR

Euro
Euro
Euro
Euro
Euro
Euro
Euro
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 1 3 2 1 2 | A P O L L O T YR E S L T D
2 0 1 3 -1 4 M illio n
C u rre n c y A m o u n t B u y/S e ll C ro s s C u rre n c y
United States Dollar
EUP0
S U B S I D I A R I E S
United States Dollar
United States Dollar
Great British Sterling
Swedish Krona
Swiss Francs
Norwegian Kroner
Polish ZloLych
Hungarian ForinL
USD
EUP0

USD
USD
GBP
SEK
CHF
NOK
PLZ
HUF
3I.74
0.I2

0.95
II.94
5.9I
44.34
4.46
I4.39
I3.96
3I4.66
Buy
Buy

Sell
Sell
Buy
Buy
Buy
Buy
Buy
Buy
I NR
I NR

ZAP
Euro
Euro
Euro
Euro
Euro
Euro
Euro

b) No. ol Currency swaps (oLher Lhan lorward exchange conLracLs sLaLed above) Lo hedge againsL lucLuaLions in
changes in exchange raLe are 1 8 (I8).
c) The year-end loreign currency exposures LhaL have noL been hedged by a derivaLive insLrumenL or oLherwise are
given below:
M illio n
C u rre n c y
A s a t M a rc h 3 1 , 2 0 1 5 A s a t M a rc h 3 1 , 2 0 1 4
R e c e iva b le /
(P a ya b le )
I N R
R e c e iva b le /
(P a ya b le )
F C
R e c e iva b le /
(P a ya b le )
I N R
R e c e iva b le /
(P a ya b le )
F C
UAE Dirham
Swiss Franc
EUP0
British Pound
I ndonesian Rupiah
dapanese Yen
Malaysian Ringgit
PhilippinePeso
SingaporeDollar
Thai BahL
US Dollar
South African Rand
NorwayCrown
Swedish Crown
Polish Sloty
Hungarian ForinL
(5 7 . 0 1 )
1 4 2 . 9 5
2 6 1 . 0 2
1 1 6 . 0 5
(0 . 0 4 )
0 . 0 5
0 . 1 7
0 . 2 3
0 . 2 3
(0 . 2 0 )
1 , 9 2 5 . 0 5
8 . 2 5
5 6 . 2 8
1 6 1 . 1 6
1 1 5 . 5 9
3 5 . 5 9
(3 . 3 1 )
2 . 2 0
3 . 6 7
1 . 2 7
(7 . 2 5 )
0 . 0 9
0 . 0 1
0 . 2 1
0 . 0 1
(0 . 1 1 )
3 0 . 6 0
1 . 5 5
7 . 2 0
2 2 . 1 7
6 . 9 8
1 5 7 . 3 3
0.32
300.78
75.58
536.I8
0.0I
(0.0I)
0.I7
0.23
0.23
(0.I7)
(4I6.88)
I2.80
I43.50
408.47
279.72
83.98
0.02
4.46
0.95
5.43
I.75
(0.03)
0.0I
0.2I
0.0I
(0.09)
(7.00)
2.I8
I4.39
44.34
I3.96
3I4.66
1 7 S e g m e n ta l R e p o rtin g
a . G e o g ra p h ic a l S e g m e n ts
The Company has considered geographic segmenLs as Lhe primary segmenLs lor disclosure. The 0eographic
SegmenLs are India ,SouLh Alrica , Europe on Lhe basis ol 0rganisaLion SLrucLure and 0peraLing LocaLions. Indian
segmenL includes manulacLuring and sales operaLions Lhrough India, SouLh Alrica and Europe segmenLs include
manulacLuring and sales operaLions Lhrough SouLh Alrica and Europe along wiLh iLs subsidiaries locaLed in SouLh
Alrica and Europe respecLively.
b.     Business Segments
The Company has considered business segmenL as Lhe secondary segmenL lor disclosure. The Company's
operaLions comprise ol only one segmenL - Tyres, Tubes & Flaps and Lherelore, Lhere are no oLher business
segmenLs Lo be reporLed as required under accounLing sLandard (AS-I7) - ¨SegmenL PeporLing".

c . Segmental assets includes all operatingassets used byrespectivesegment and consists principallyof operating
cash, debLors, invenLories and lxed asseLs neL ol allowances and provisions. SegmenLal liabiliLies include all
operating liabilities and consist primarily of creditors and accrued liabilities. Segment assets and liabilities do not
include income Lax asseLs and liabiliLies.
M illio n
P a rtic u la rs I n d ia S o u th A fric a E u ro p e O th e rs O th e r C o rp E lim in a tio n s T o ta l
2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4
1 . R E VE N U E
ToLal Pevenue
I nter segment Revenue

8 9 , 7 5 3 . 6 3
(6 , 0 6 7 . 1 9 )

87,909.58
(5,407.96)

4 , 7 2 7 . 4 2
-

I2,7I4.80
(8.03)
3 6 , 3 7 6 . 5 4
(1 , 0 1 8 . 4 1 )
37,325.44
(889.00)
5 , 1 5 6 . 4 3
(5 5 4 . 8 2 )
3,542.65
(90.32)
8 0 8 . 9 4
(7 9 2 . 0 7 )
66.6I
(65.5I)

(8 , 4 3 2 . 4 9 )
8 , 4 3 2 . 4 9

(6,460.82)
6,460.82
1 2 8 , 3 9 0 . 4 7
-
I35,098.26
-
E x te rn a l R e ve n u e 8 3 , 6 8 6 . 4 4 82,50I.62 4 , 7 2 7 . 4 2 I2,706.77 3 5 , 3 5 8 . 1 3 36,436.44 4 , 6 0 1 . 6 1 3,452.33 1 6 . 8 7 I.I0 - - 1 2 8 , 3 9 0 . 4 7 I35,098.26
2 . R E S U L T
Segment result
InLeresL expense
Income Taxes
ExcepLional iLem

1 1 , 0 6 2 . 3 0
(1 , 7 2 0 . 8 8 )
(2 , 8 9 0 . 6 1 )
-

9,30I.02
(2,446.I0)
(I,7I8.26)
(7I0.47)
(1 4 8 . 1 6 )
(1 0 . 0 3 )
3 5 7 . 6 8
(8 2 4 . 9 0 )
688.27
(232.32)
(I50.7I)
I,858.44
4 , 9 7 3 . 3 7
(8 8 . 9 5 )
9 4 3 . 9 3
-
5,5I4.40
(I5I.09)
(388.I5)
(I,6I5.83)
(4 6 . 1 3 )
(1 0 . 2 5 )
(3 8 . 1 9 )
-
77.66
(I2.85)
(I0.68)
-
7 8 6 . 0 9
(0 . 4 7 )
(1 7 . 1 3 )
-
5I.I6
-
(II.58)
-
(6 6 6 . 4 0 )
2 . 6 8
-
-
(7.43)
4.42
-
-
1 5 , 9 6 1 . 0 7
(1 , 8 2 7 . 9 0 )
(3 , 5 3 2 . 1 8 )
(8 2 4 . 9 0 )
I5,625.08
(2,837.94)
(2,268.70)
(467.86)
Net proñt 6 , 4 5 0 . 8 1 4,426.I9 (6 2 5 . 4 1 ) 2,I63.68 3 , 9 4 0 . 4 9 3,359.33 (9 4 . 5 7 ) 53.93 7 6 8 . 4 9 39.58 (6 6 3 . 7 2 ) (3.0I) 9 , 7 7 6 . 0 9 I0,050.58
3 . O T H E R I N F O R M A T I O N
Segment assets
Segment liabilities
CapiLal ExpendiLure
Depreciation
0Lher SignilcanL Non Cash
Expenses
6 1 , 2 1 4 . 0 6
2 4 , 0 8 0 . 0 3
2 , 4 3 5 . 2 2
2 , 4 6 7 . 8 0

1 4 6 . 0 2
60,669.88
29,604.25
2,279.59
2,480.46

428.32
2 , 4 1 3 . 4 4
8 9 5 . 3 4
4 5 . 7 9
1 2 6 . 2 9

2 8 . 8 3
3,949.33
I,23I.74
I08.45
389.85

(2I.99)
2 7 , 5 7 3 . 5 7
6 , 2 2 0 . 4 5
3 , 7 7 9 . 0 2
1 , 2 5 3 . 0 3

1 1 . 4 3
27,969.23
7,792.49
3,394.02
I,2II.I6

24.48
2 , 9 9 8 . 6 9
7 3 8 . 6 8
1 0 6 . 0 9
3 2 . 6 8

7 . 5 2
2,8I5.I7
I,58I.4I
42.66
24.I0

5.73
9 , 2 9 8 . 1 5
6 , 0 6 5 . 0 2
1 4 . 0 9
3 . 0 8

(1 4 . 0 9 )
8,9I2.93
6,00I.44
II.4I
2.95

6.I6
(1 7 , 3 4 7 . 0 7 )
(2 , 2 7 1 . 6 5 )
-
-

-
(I3,860.70)
(I,50I.72)
-
-

-
8 6 , 1 5 0 . 8 4
3 5 , 7 2 7 . 8 7
6 , 3 8 0 . 2 1
3 , 8 8 2 . 8 8

1 7 9 . 7 1
90,455.84
44,709.6I
5,836.I3
4,I08.5I

442.70
1 8 Disclosure ol PelaLed ParLy TransacLions in accordance wiLh Lhe mandaLory AccounLing SLandards AS-I8
¨PelaLed ParLy Disclosures" .
N a m e o f th e R e la te d P a rtie s
P a rtic u la rs 2 0 1 4 -1 5 2 0 1 3 -1 4
Companies inwhichDirectors
areinterested
Apollo InLernaLional LLd (AIL)
Apollo InLernaLional Trading LLC, Middle EasL
Encorp E Services LLd
UF0 Moviez India LLd
Landmark Farms & Housing (P) LLd
Sunlile Tradelinks (P) LLd
Travel Tracks LLd
Bespoke Tours & Travels LLd
Dusk valley Technologies LLd
Classic AuLo Tubes LLd
PTL EnLerprises LLd (PTL)
ApolloFinanceLtd
Artemis MedicareServices Ltd
ArLemis HealLh Sciences LLd
Regent Properties
SwarangangaConsultants Pvt Ltd
d & S SysLems CorporaLion, U.K.
Sacred HearL InvesLmenL Co. PvL LLd
Milers Global Pvt Ltd
Amarchand &Mangaldas &Suresh AShroll &Co.
d Sagar & AssociaLes
ApolloFiegeI ntegratedLogistics Pvt Ltd
Apollo InLernaLional LLd (AIL)
Apollo InLernaLional Trading LLC, Middle EasL
Encorp E Services LLd
UF0 Moviez India LLd
Landmark Farms & Housing (P) LLd
Sunlile Tradelinks (P) LLd
Travel Tracks LLd
Bespoke Tours & Travels LLd
Dusk valley Technologies LLd
Classic AuLo Tubes LLd
PTL EnLerprises LLd (PTL)
ApolloFinanceLtd
Artemis MedicareServices Ltd
ArLemis HealLh Sciences LLd
Regent Properties
SwarangangaConsultants Pvt Ltd
d&S SysLems CorporaLion, U.K.
Sacred HearL InvesLmenL Co. PvL LLd
Milers Global Pvt Ltd
Amarchand &Mangaldas &Suresh AShroll &Co.
d Sagar & AssociaLes
ApolloFiegeI ntegratedLogistics Pvt Ltd
Associates PressuriLe (PLy) LLd
NaLional Tyre Services LLd
PressuriLe (PLy) LLd
NaLional Tyre Services LLd
KeyManagement Personnel Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar
Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar
Relatives of KeyManagerial
Personnel
Mr Paa|a Kanwar Mr Paa|a Kanwar
Note: PeIated Parties and their reIationships are as identiñed by the management and reIied upon by the Auditors.

A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 1 5 2 1 4 | A P O L L O T YR E S L T D
T ra n s a c tio n s with R e la te d P a rtie s :
F Y 2 0 1 4 -1 5 M illio n

P a rtic u la rs C o m p a n ie s in wh ic h
D ire c to rs a re in te re s te d
K e y M a n a g e m e n t
P e rs o n n e l
T o ta l
D e s c rip tio n o f T ra n s a c tio n s :
S a le s :
Apollo InLl. Trading LLC, Dubai
Apollo I nternational Ltd

I,034.36
446.98

I,034.36
446.98
1 , 4 8 1 . 3 4 1 , 4 8 1 . 3 4
S a le s : R a w M a te ria ls
Classic AuLo Tubes LLd

5.I8

5.I8
C ro s s C h a rg e o f M a n a g e m e n t & O th e r
E x p e n s e s R e c e ive d :
PTL EnLerprises LLd
Classic AuLo Tubes LLd
Artemis MedicareServices Ltd

4.45
I.78
0.60

4.45
I.78
0.60
6 . 8 3 6 . 8 3
R e n t R e c e ive d :
PTL EnLerprises LLd
Bespoke Tours & Travels LLd
Classic AuLo Tubes LLd

0.I2
I.23
0.II

0.I2
I.23
0.II
1 . 4 6 1 . 4 6
R e im b u rs e m e n t o f E x p e n s e s R e c e ive d :
Classic AuLo Tubes LLd
PTL EnLerprises LLd
Apollo I nternational Ltd

8.23
2.98
3.23

8.23
2.98
3.23
1 4 . 4 4 1 4 . 4 4
F re ig h t & I n s u ra n c e re c o ve re d :
Apollo I nternational Ltd 0.02 0.02
P u rc h a s e s :
Classic AuLo Tubes LLd 548.94 548.94
C le a rin g C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt Ltd

39.94

39.94
Wa re h o u s e M a n a g e m e n t C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt Ltd

53.I6

53.I6
L e g a l a n d P ro fe s s io n a l C h a rg e s P a id :
Amarchand &Mangaldas &Suresh A Shroll &Co.
d Sagar & AssociaLes

9.50
6.70

9.50
6.70
1 6 . 2 0 1 6 . 2 0
R e im b u rs e m e n t o f E x p e n s e s p a id :
PTL EnLerprises LLd
Classic AuLo Tubes LLd

445.07
226.04

445.07
226.04
6 7 1 . 1 1 6 7 1 . 1 1
P a ym e n t fo r S e rvic e s R e c e ive d :
Artemis MedicareServices Ltd
Classic AuLo Tubes LLd

II.46
0.42

II.46
0.42
1 1 . 8 8 1 1 . 8 8
L e a s e R e n t P a id :
PTL EnLerprises LLd

400.00

400.00
R e n t P a id :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Classic AuLo Tubes LLd
Milers Global Pvt Ltd

23.43
24.00
2I.60
0.I2
3.00

23.43
24.00
2I.60
0.I2
3.00
7 2 . 1 5 7 2 . 1 5
C o n ve rs io n C h a rg e s P a id :
Classic AuLo Tubes LLd

968.20

968.20
M ix in g C h a rg e s P a id :
Classic AuLo Tubes LLd

247.56

247.56
T ra ve llin g E x p e n s e s P a id :
Bespoke Tours & Travels LLd 3I7.58 3I7.58
C o n fe re n c e E x p e n s e s :
Bespoke Tours & Travels LLd

220.55

220.55
C o m m is io n re c e ive d :
Apollo FinanceLtd

0.76

0.76
M a n a g e ria l R e m u n e ra tio n :
Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar

4I7.I0
273.00
7.0I
4I.82

4I7.I0
273.00
7.0I
4I.82
7 3 8 . 9 3 7 3 8 . 9 3
A m o u n t O u ts ta n d in g
T ra d e P a ya b le :
Bespoke Tours & Travels LLd
Classic AuLo Tubes LLd
Artemis MedicareServices Ltd
Amarchand & Mangaldas & Suresh A
Shroll & Co.

6.08
25.38
0.I5

0.06

6.08
25.38
0.I5

0.06
3 1 . 6 7 3 1 . 6 7
O th e r C u rre n t L ia b ilitie s :
Classic AuLo Tubes LLd 43.I5 43.I5
4 3 . 1 5 4 3 . 1 5
L o n g T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Milers Global Pvt Ltd
Classic AuLo Tubes LLd

400.00
5.86
6.00
5.40
0.75
79.60

400.00
5.86
6.00
5.40
0.75
79.60
4 9 7 . 6 1 4 9 7 . 6 1
T ra d e R e c e iva b le :
Classic AuLo Tubes LLd
Apollo I nternational Ltd

7.89
I05.60

7.89
I05.60
1 1 3 . 4 9 1 1 3 . 4 9
S h o rt T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd
Travel Tracks LLd
Classic AuLo Tubes LLd
Apollo FiegeI ntegrated Logistics Pvt Ltd
Apollo FinanceLtd

3I.84
0.0I
I0.I0
0.49
3.24

3I.84
0.0I
I0.I0
0.49
3.24
4 5 . 6 8 4 5 . 6 8
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 1 7 2 1 6 | A P O L L O T YR E S L T D
T ra n s a c tio n s with R e la te d P a rtie s :
F Y 2 0 1 3 -1 4 M illio n

P a rtic u la rs C o m p a n ie s in wh ic h
D ire c to rs a re in te re s te d
K e y M a n a g e m e n t
P e rs o n n e l
T o ta l
D e s c rip tio n o f T ra n s a c tio n s :
S a le s :
Apollo InLl. Trading LLC, Dubai

I,3II.47

I,3II.47
S a le s : R a w M a te ria ls
Classic AuLo Tubes LLd

3I.48

3I.48
C ro s s C h a rg e o f M a n a g e m e n t & O th e r
E x p e n s e s R e c e ive d :
PTL EnLerprises LLd
Classic AuLo Tubes LLd
Artemis MedicareServices Ltd

3.38
I.78
0.60

3.38
I.78
0.60
5 . 7 6 5 . 7 6
R e n t R e c e ive d :
PTL EnLerprises LLd
Bespoke Tours & Travels LLd
Classic AuLo Tubes LLd

0.I2
I.23
0.II

0.I2
I.23
0.II
1 . 4 6 1 . 4 6
R e im b u rs e m e n t o f E x p e n s e s R e c e ive d :
Classic AuLo Tubes LLd

26.73

26.73
P u rc h a s e s :
PTL EnLerprises LLd
Classic AuLo Tubes LLd

0.06
307.53

0.06
307.53
3 0 7 . 5 9 3 0 7 . 5 9
C le a rin g C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt Ltd

8I.38

8I.38
Wa re h o u s e M a n a g e m e n t C h a rg e s P a id :
Apollo FiegeI ntegrated Logistics Pvt Ltd

27.I0

27.I0
L e g a l a n d P ro fe s s io n a l C h a rg e s P a id :
Amarchand &Mangaldas &Suresh A Shroll &Co.
d Sagar & AssociaLes

4.58
20.25

4.58
20.25
2 4 . 8 3 2 4 . 8 3
R e im b u rs e m e n t o f E x p e n s e s p a id :
PTL EnLerprises LLd
Classic AuLo Tubes LLd

420.73
I46.72

420.73
I46.72
5 6 7 . 4 5 5 6 7 . 4 5
P a ym e n t fo r S e rvic e s R e c e ive d :
Artemis MedicareServices Ltd

I0.52

I0.52
L e a s e R e n t P a id :
PTL EnLerprises LLd

400.00

400.00
R e n t P a id :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Classic AuLo Tubes LLd
Milers Global Pvt Ltd

23.43
24.00
2I.60
0.I2
3.00

23.43
24.00
2I.60
0.I2
3.00
7 2 . 1 5 7 2 . 1 5
C o n ve rs io n C h a rg e s P a id :
Classic AuLo Tubes LLd

I,0I7.6I

I,0I7.6I
M ix in g C h a rg e s P a id :
Classic AuLo Tubes LLd

3I8.4I

3I8.4I
T ra ve llin g E x p e n s e s P a id :
Travel Tracks LLd
Bespoke Tours & Travels LLd

I.34
2I7.72

I.34
2I7.72
2 1 9 . 0 6 2 1 9 . 0 6
C o n fe re n c e E x p e n s e s :
Bespoke Tours & Travels LLd

202.60

202.60
S e c u rity D e p o s its G ive n :
Milers Global Pvt Ltd

0.75

0.75
R e fu n d o f S e c u rity D e p o s its :
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties

64.43
66.00
59.40

64.43
66.00
59.40
1 8 9 . 8 3 1 8 9 . 8 3
M a n a g e ria l R e m u n e ra tio n :
Mr Onkar S Kanwar
Mr Neera| Kanwar
Mr U S Oberoi
Mr SunamSarkar

304.08
I42.I2
I0.33
38.45

304.08
I42.I2
I0.33
38.45
4 9 4 . 9 8 4 9 4 . 9 8
A m o u n t O u ts ta n d in g
T ra d e P a ya b le :
Travel Tracks LLd
Classic AuLo Tubes LLd
Apollo FiegeI ntegrated Logistics Pvt Ltd

(0.0I)
22.27
9.39

(0.0I)
22.27
9.39
3 1 . 6 5 3 1 . 6 5
O th e r C u rre n t L ia b ilitie s :
Apollo I nternational Ltd
Classic AuLo Tubes LLd

0.II
4.37

0.II
4.37
4 . 4 8 4 . 4 8
L o n g T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd
Sunlile Tradelinks
Land Mark Farms & Housing
Regent Properties
Milers Global Pvt Ltd
Classic AuLo Tubes LLd

400.00
5.86
6.00
5.40
0.75
I23.89

400.00
5.86
6.00
5.40
0.75
I23.89
5 4 1 . 9 0 5 4 1 . 9 0
T ra d e R e c e iva b le :
Classic AuLo Tubes LLd
Apollo I nternational Ltd
Apollo InLl. Trading LLC, Dubai

2.4I
0.0I
I55.62

2.4I
0.0I
I55.62
1 5 8 . 0 4 1 5 8 . 0 4
S h o rt T e rm L o a n s & A d va n c e s :
PTL EnLerprises LLd
Bespoke Tours & Travels LLd
Classic AuLo Tubes LLd
Artemis MedicareServices Ltd

43.24
33.83
2.97
0.59

43.24
33.83
2.97
0.59
8 0 . 6 3 8 0 . 6 3
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 1 9 2 1 8 | A P O L L O T YR E S L T D
1 9 O p e ra tin g L e a s e
A . I n d ia n O p e ra tio n s
The Company has acquired asseLs under Lhe operaLing lease agreemenLs LhaL are renewable on a periodic basis aL
Lhe opLion ol boLh Lhe lessor and lessee. PenLal expenses under Lhose leases were 4 0 0 M illio n ( 400 Million)
The schedule ol luLure minimum lease paymenLs in respecL ol non-cancellable operaLing leases is seL ouL below.
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
WiLhin 0ne year ol Lhe Balance SheeL daLe
Duein a period between Oneyear and Fiveyears
Dueafter Fiveyears
4 0 0 . 0 0
2 , 0 0 0 . 0 0
4 0 0 . 0 0
400.00
2,000.00
800.00
B . S o u th A fric a n O p e ra tio n s
A p o llo D u rb a n (P ty) L td
The schedule ol luLure minimum lease paymenLs in respecL ol non-cancellable operaLing leases is seL ouL below.
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
WiLhin one year ol Lhe Balance SheeL daLe
Duein a period between Oneyear and Fiveyears
Dueafter Fiveyears
2 3 . 9 1
3 2 . 7 5
-
2.3I
-
-
The lease escalaLion liabiliLy relaLes Lo renLal and lease conLracLs wiLh lxed escalaLion clause. PenLal payables
under Lhe conLracLs are charged Lo ConsolidaLed SLaLemenL ol ProlL & Loss on a sLraighL-line basis over Lhe Lerm ol
therelevant lease.
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
Longterm
ShorL Lerm (due wiLhin a year)
ToLal lease escalaLion
1 . 5 9
0 . 1 0
1 . 6 9
-
-
-
C . E u ro p e a n O p e ra tio n s
The schedule ol luLure minimum lease paymenLs in respecL ol non-cancellable operaLing leases is seL ouL below.
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
WiLhin one year ol Lhe Balance SheeL DaLe
Due in a period beLween one year and lve years
Due alLer lve years
3 7 5 . 0 5
7 9 5 . 5 7
1 9 . 5 3
456.7I
I,234.85
28.58
The Company has operaLional lease conLracLs lor cars and IT hardware. PenLal obligaLions relaLe Lo various ware-
houses and ollce buildings wiLh conLracLs up Lo I0 years. The renLal arrangemenLs include ad|usLmenLs depending
upon benchmark inlaLion indices.
D . O th e rs
The schedule ol luLure minimum lease paymenLs in respecL ol non-cancellable operaLing leases is seL ouL below.
P A R T I C U L A R S
2 0 1 4 -1 5
M illio n
2 0 1 3 -1 4
M illio n
WiLhin one year ol Lhe Balance SheeL DaLe
Due in a period beLween one year and lve years
Due alLer lve years
2 6 . 5 4
4 7 . 0 8
-
-
-
-
The company has operaLional lease conLracLs lor ollce space. PenLal obligaLions relaLe Lo various warehouses and
ollce buildings wiLh conLracLs up Lo 3 years.
2 0 F in a n c e L e a s e - D e fe rre d P a ym e n t C re d it
The Company has enLered inLo lnance lease arrangemenLs lor cerLain AsseLs. The schedule ol luLure minimum
leasepayments in respect of non-cancellableFinanceleases is set out below:
M illio n
P A R T I C U L A R S
T o ta l M in im u m L e a s e
P a ym e n ts
P re s e n t Va lu e o f L e a s e
P a ym e n ts
2 0 1 4 -1 5 2 0 1 3 -1 4 2 0 1 4 -1 5 2 0 1 3 -1 4
WiLhin 0ne year ol Lhe Balance SheeL daLe
Duein a period between Oneyear and Fiveyears
Due alLer Five Years
T o ta l
Less: FutureFinanceCharges
P re s e n t Va lu e o f M in im u m L e a s e P a ym e n t
6 8 . 3 1
1 0 1 . 7 5
4 5 . 2 1
2 1 5 . 2 7
(4 3 . 5 1 )
1 7 1 . 7 6
68.88
I56.52
52.65
278.05
(58.II)
2I9.94
5 6 . 1 2
7 9 . 6 7
3 5 . 9 7
1 7 1 . 7 6
-
-
52.5I
I27.0I
40.42
2I9.94
-
-

2 1 Earnings Per Share (EPS) ¬ The numeraLor and denominaLor used Lo calculaLe Basic and DiluLed Earnings Per
Share:
P A R T I C U L A R S 2 0 1 4 -1 5 2 0 1 3 -1 4
a ) B a s ic & D ilu te d (B e fo re E x c e p tio n a l I te m s )
ProlL aLLribuLable Lo Lhe equiLy shareholders used as numeraLor
( Million) - (A)
The weighLed average number ol equiLy shares ouLsLanding during Lhe
year used as denominaLor For Basic EPS - (B)
Add . EllecL ol WarranLs which are diluLive
The weighLed average number ol equiLy shares ouLsLanding during Lhe
year used as denominaLor lor DiluLed EPS - (C)

B a s ic E a rn in g s P e r S h a re ( ) – (A ) / (B ) (F a c e Va lu e o f 1 e a c h )
D ilu te d E a rn in g s P e r S h a re ( ) – (A ) / (C ) (F a c e Va lu e o f 1 e a c h )

9 , 7 7 6 . 0 9

5 0 7 , 9 4 2 , 5 7 8
4 4 1 , 0 5 8 . 0 0

5 0 8 , 3 8 3 , 6 3 6

1 9 . 2 5

1 9 . 2 3

I0,050.58

504,024,770
649,I02.00

504,673,872

I9.94

I9.9I

2 2 Previous year's lgures have been regrouped f reclassiled wherever necessary Lo correspond wiLh Lhe currenL year's
classilcaLion f disclosure.
0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 2 1 2 2 0 | A P O L L O T YR E S L T D
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A N N U A L R E P O R T 2 0 1 4 -1 5 | 2 2 3 2 2 2 | A P O L L O T YR E S L T D
N o te 1 N a m e o f s u b s id ia rie s wh ic h a re ye t to c o m m e n c e o p e ra tio n s
Nil
N o te 2 N a m e o f s u b s id ia rie s wh ic h h a ve b e e n liq u id a te d o r s o ld d u rin g th e ye a r
a Apollo AcquisiLion Corp. Winding up compleLed during Lhe year
b Padun InvesLmenL (PrivaLe) LLd (PADUN) Sold duringtheyear
c Apollo Tyres (Zimbabwe) (PrivaLe) LLd Sold duringtheyear
d ASF Mining (PvL) LLd Zimbabwe Sold duringtheyear
e UK ATL Holdings LimiLed Sold duringtheyear
f Apollo Tyres (LA0) Co. LLd. Winding up compleLed during Lhe year
P a rt B : A s s o c ia te s a n d J o in t Ve n tu re
M illio n
S . N o . N a m e o f A s s o c ia te s / J o in t Ve n tu re
P a n A rid u s L L C
(J o in t Ve n tu re )
I L a te s t a u d ite d B a la n c e S h e e t d a te 3I.03.20I5
2 S h a re s o f A s s o c ia te / J o in t Ve n tu re s h e ld b y th e
c o m p a n y o n th e ye a r e n d
No. 9,550.00
AmounL ol InvesLmenL in AssociaLesf doinL venLure 269.76
ExLenL ol Holding º 50º
3 Description of how there is signiñcant inñuence ExLenL ol Holding equals Lo 50º
4 R e a s o n wh y th e a s s o c ia te / jo in t ve n tu re is n o t
c o n s o lid a te d
-
5 N e t wo rth a ttrib u ta b le to S h a re h o ld in g a s p e r la te s t
B a la n c e S h e e t
(87.8I)
6 Proñt [ (Loss) for the year
i. Considered in Consolidation (2I.4I)
i. Not Considered in Consolidation (2I.4I)

N o te 1 N a m e o f a s s o c ia te s o r jo in t ve n tu re s wh ic h a re ye t to c o m m e n c e o p e ra tio n s
Nil
N o te 2 N a m e o f a s s o c ia te s o r jo in t ve n tu re s wh ic h h a ve b e e n liq u id a te d o r s o ld d u rin g th e ye a r
NaLional Tyre Services LLd Sold during Lhe year

0NKAP S KANWAP NEEPAd KANWAP S NAPAYAN
Chairman & vice Chairman & DirecLor
ManagingDirector ManagingDirector
0AUPAv KUMAP SEEMA THAPAP
0urgaon Chiel Financial 0llcer Company SecreLary
May I2, 20I5
N O T E S
2 2 4 | A P O L L O T YR E S L T D
N O T E S
Apcllc Tyres LId
Apcllc Hcuse, 7 InsIiIuIicnal Area, SecIcr 32, Surgacn I2200I, India
T: +9I I24 2383002 F: +9I I24 238302I www.apcllcIyres.ccm
PegisIered DIIice: Apcllc Tyres LId, 6Ih Flccr, Cherupushpam Building, Shanmugham Pcad, Kcchi 68203I, India
T: +9I 484 2372767 F: +9I 484 237035I Email : [email protected]
CIN: L25IIIKLI972PLC002449
Note :
(1) None of the above is related to any Director of the Company except Mr Onkar S Kanwar & Mr Neeraj Kanwar being father and son.
(2) All appointments are contractual.
For and on behalf of the Board of Directors

Sd/-
Date : May 12, 2015 Onkar S Kanwar
Place : Gurgaon (Chairman & Managing Director)
APOLLO TYRES LTD
ANNEXURE - A
Information as per Section 197 of the Companies Act,2013, read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel ) Rules,2014, and forming part of the
Directors Report for the Year ended March 31, 2015
Name Designation Qualifcation D.O.J. Age Exp. Remuneration Previous Employment Last Designation
Employed throughout the year (` Million)
1 Mr Anil Chopra Group Head, Corporate Accounts B Com, A C A 18-Aug-92 60 34 16.53 Altos India Ltd Manager, Finance
2 Mr Ajay Vaid Group Manager, International sales B Com ( H) 03-Jul-95 41 20 6.67 - -
3 Mr Chandrasekhar Velagapudi Head, IT M B A, M Sc 08-Nov-04 49 26 8.03 Pepsi Food P.Ltd Manager, Technical
4 Mr Davendra Mittal Head, Finance B E, M B A 21-Mar-13 46 21 7.28 Lanco Infratech Sr. Vice President
5 Mr Dheeraj Prasad Sinha Group Head, Corprate Management Services B E 09-Feb-04 44 22 12.31 Infovergix Technologies Ltd G.M, Ebusiness Services
6 Mr Gaurav Kumar Group Head, Corporate Strategy & Finance B Tech, M B A 01-Mar-04 45 22 22.76 HCL Technologies Ltd AVP, Mergers & Acquisitions
7 Mr Harish Bahadur Head, Corporate Investments B Com (H) 02-Feb-75 63 40 17.69 - -
8 Mr John Devadason Unit Head, Chennai Plant M Sc(Eng), B E 08-Nov-10 51 30 6.41 TVS Sundram Fasteners Ltd General Manager & Proft Centre Head
9 Mr K Sunil Head, Corporate Engineering B Tech 01-Jul-87 51 28 6.84 - -
10 Mr Neeraj Kanwar Vice Chairman & Managing Director B Sc, ACMS 24-Feb-97 43 20 273.00 Apollo Finance Ltd Joint President
11 Mr O S Kanwar Chairman & Managing Director B Sc, Bach of Admn 01-Feb-88 72 54 417.10 Bst Manufacturing Ltd Managing Director
12 Mr Piush Bansal Unit Head, Limda Plant B E (Mech), PGDBM 20-Aug-13 49 29 8.82 Moser Bear India Vice President
13 Mr P K Mohamed Chief Advisor, Research & Development B Sc, LPRI 19-Feb-01 74 51 29.08 Ceat Ltd Executive Director, Technical
14 Mr P N Wahal Head, Secretarial & Legal and Company Secretary B Com (H), FCA, FCS 01-Apr-90 65 43 14.23 Apollo Tubes Ltd Company secretary
15 Mr Pravin Tripathi Head, Global Purchase MBA, ICWA 15-Oct-90 45 25 6.57 - -
16 Mr Prem Prakash Sharma Head HR, Limda Plant B A, PDBA, PGDBM 30-Jul-13 51 29 6.34 India Yamaha Motors Group Head HR
17 Mr Rajesh Dahiya Group Head, Sales (APMEA) B Com , MBA 20-Aug-90 49 26 17.15 Indian Express Business Executive
18 Mr S Chockalingam Head, Special Projects B E (Mech), M B A 28-Jun-07 53 29 6.87 Hinduja Group President, Project
19 Mr Satish Sharma President, APMEA BE, PGDBM 15-Oct-97 47 26 44.82 JK Industries Ltd Manager
20 Mr Sunam Sarkar President & Chief Business Offcer B Com (H), IMPM 01-Jul-99 49 28 41.82 Modi Xerox Ltd G.M
21 Mr Tapan Mitra Chief Advisor B Sc (H), MA Sociology 01-Feb-05 60 39 27.21 Ballarpur Industries Ltd VP, People Development & communications
22 Mr T R Gopalakrishnan Group Head, Corporate Technology (TBR) B Sc, BE 16-Jun-80 61 34 19.21 JK Industries Ltd Asstt. Technical Offcer
23 Mr U S Oberoi Chief Corporate Affairs B Com (H) 15-Jul-80 71 52 10.38 JK Industries Ltd Sr.District Manager, Sales
Employed part of the year
1 Mr Atulya Sharma Chief Legal Counsel LLB, LLM 18-Feb-15 45 25 4.08 Deutsche Bank Director
2 Mr C Krishna Kumar Group Head, Projects M Tech, ME 15-Mar-90 48 25 8.59 - -
3 Mr Deepak Gupta Head, Business Quality PGDBM, BE 22-Jul-14 46 23 4.66 Frigoglass India Pvt Ltd Head, Quality & Product Integrity
4 Mr K Prabhakar Chief, Projects B Tech, PGD Ind. Engg. ICWA 06-Nov-89 59 37 24.15 SRF Ltd. Deputy Mgr (IE) & EA to Sr.GM
5 Mr Pepijn Kappen Brand Manager B Com 01-May-12 35 11 2.28 Rabobank Enschede Deputy Manager
6 Mr Pramesh Arya Group Head, Marketing PGDBM, B Sc (Engg) 15-Dec-14 48 24 3.44 Kohler India Director, Marketing
7 Ms Sonia Kochhar Head, Customer Service (APMEA) MBA, B A (H) 30-Jun-14 45 19 2.66 Bharti Airtel Limited Vice President
8 Mr Sunil Ranjhan Group Head, HR (APMEA) MMS 31-Jul-14 50 28 7.18 Honda Cars India Ltd Sr. Vice President
9 Mr Teera Makanontchai Head,Fleet Marketing & Sales Training MBA, BA 24-Nov-14 42 14 3.92 Michelin Siam Co. Ltd Norm & Regulation Coordinator
10 Mr Tim Sander Country Manager, Australia & New Zealand GCSE 01-Aug-12 61 39 1.77 Tyretactix PTE LTD. Australia Managing Director
APOLLO TYRES LTD
Regd.Offce: 6th Floor, Cherupushpam Building, Shanmugham Road, Kochi-682 031 (Kerala)
Tel: +91 484 2372767, Fax: +91 484 2370351, Email : [email protected], Web: apollotyres.com
ATTENDANCE SLIP
Folio/DP ID - Client ID No.* No. of Shares held:
* Applicable for the member(s) holding shares in Electronic Form.
I being a member/ proxy for the member of the Company, hereby record my presence at the 42
nd
Annual General
Meeting of the Company at Kerala Fine Arts Theatre, Fine Arts Avenue, Foreshore Road, Ernakulam, Kochi
(Kerala) on Tuesday, August 11, 2015 at 10.00 am.
1. Please hand over the attendance slip at the entrance of the meeting venue.
2. This attendance is valid only in case shares are held on the date of meeting.
3. As per section 118(10) of the Companies Act, 2013 read with the Secretarial Standards for General Meeting
issued by Institute of Company Secretaries of India “No gifts, gift coupons or cash in lieu of gifts shall
be distributed to members at or in connection with the meeting”.
E-VOTING PARTICULARS
E-Voting Even
Number
USER ID PASSWORD
Note: Please read instructions given out at Note no. 12 of the Notice of the 42
nd
Annual General Meeting of the
Company before casting your vote through e-voting.
APOLLO TYRES LTD
Regd.Offce: 6th Floor, Cherupushpam Building, Shanmugham Road, Kochi-682 031 (Kerala)
Tel: +91 484 2372767, Fax: +91 484 2370351, Email : [email protected], Web: apollotyres.com
PROXY FORM
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and Administration) Rules, 2014]
Folio/DP ID - Client ID No.*
E-mail Id:
I/We, being the member(s) of ..................................................... shares of Apollo Tyres Ltd, hereby appoint:
1) Name: ............................................................................................. Address: ......................................................................................................................
E-mail Id: ...................................................................................... Signature:..........................................................................................,or failing him
2) Name: ............................................................................................. Address: ......................................................................................................................
E-mail Id: ...................................................................................... Signature:..........................................................................................,or failing him
3) Name: ............................................................................................. Address: ......................................................................................................................
E-mail Id: ...................................................................................... Signature:.....................................................................................................................
as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 42
nd
Annual General Meeting of the Company, to be held on Tuesday,
August 11, 2015 at 10:00 amat Kerala Fine Arts Theatre, Fine Arts Avenue, Foreshore Road, Ernakulam, Kochi (Kerala) and at any adjournment
thereof in respect of such resolutions as are indicated below:
S.No. Resolutions
1 To Consider and adopt:
(a) The audited fnancial statement of the Company for the fnancial year ended March 31, 2015, the reports of the Board of Directors
and Auditors thereon; and
(b) The audited consolidated fnancial statement of the Company for the fnancial year ended March 31, 2015.
2 To declare dividend on equity shares.
3
To appoint a Director in place of Mr. Sunam Sarkar (DIN - 00058859), who retires by rotation, and being eligible, offers himself for
re-appointment.
4 To ratify the appointment of the Auditors and fx their remuneration.
5 To ratify the payment of the remuneration to the Cost Auditor for the fnancial year 2015-16.
6 To pay commission to the Non-Executive Directors.
Signed this……….......... day of …...........…. 2015.
Signature of the Member .....................................................
Signature of the Proxy holder(s) ..............................................
Notes:
1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Offce of the Company, not less than
48 hours before the commencement of the meeting.
2. This Form of Proxy shall be signed by the member or his duly authorised attorney, or if the member is a body corporate, it shall be duly sealed
and signed by an offcer or an attorney. The Proxy Formwhich is unstamped or inadequately stamped or where the stamp has not been cancelled
or is undated or which does not state the name of the Proxy shall not be considered valid.
3. Proxy need not be a member of the Company. Pursuant to the provisions of section 105 of the Companies Act, 2013, a person can act as proxy on
behalf of not more than ffty members and holding in aggregate not more than ten percent of the total share capital of the Company. Members
holding more than ten percent of the total share capital of the Company may appoint a single person as proxy, who shall not act as proxy for any
other member.
4 The submission by a member of this form of proxy will not preclude such member from attending in person and voting at the meeting. If both
member and proxy attend the meeting, the proxy shall stand automatically revoked.
42
nd
ANNUAL GENERAL MEETING- AUGUST 11, 2015
(CIN-L25111KL1972PLC002449)
Name of the member(s) & Registered address:
Name of the Member/Proxy
#
Signature of the Member/Proxy
#
#
Strikeout whichever is not applicable.
Name of the member(s) & Registered address:
* Applicable for the member(s) holding shares in Electronic Form.
42
nd
ANNUAL GENERAL MEETING- AUGUST 11, 2015
(CIN-L25111KL1972PLC002449)
Affx Revenue
Stamp of not
less than
Re. 1/-
1
2
3
4
5
6
be distributed to members at or in connection with the meeting”.

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