InvestorQ : Is it true that Apollo Tyres is planning a price hike?
Aashna Tripathi made post

Is it true that Apollo Tyres is planning a price hike?

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Aditi Sharma answered.
3 weeks ago
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That is right, Apollo Tyres is planning to hike prices in the range of 3-5% for the domestic customers to offset part of the debilitating impact of rising commodity prices. This comes on top of the 9% average price hike that Apollo has already effected in the calendar year 2021 till date. However, there is still under-recovery as pass-throughs have not been total.

Most of the inputs for Apollo like tar, rubber, oil and chemicals all have been under tremendous cost input inflationary strain due to supply chain bottlenecks globally. In the second quarter, the raw material costs spiked 61.9% yoy. However, Apollo Tyres has maintained that demand for tyres in the OEM and replacement market were robust.

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