Apollo Tyres will invest INR 58 billion over three years to expand passenger car and truck tyre capacity at its Andhra Pradesh plant, as utilisation in India moves into the high 80s and truck and bus radial lines approach full capacity.

The board has approved the capital expenditure for financial years 2027 to 2029, with about INR 20 billion scheduled for FY2027. Total consolidated capex in FY2027 is expected to be about INR 30 billion, including roughly INR 7 billion of maintenance and operational spending and ongoing expansion in Hungary.

Neeraj Kanwar, Managing Director And Vice-Chairman, said the company was “running at close to 100 percent utilisation” in truck and bus radial tyres and was seeing shortages in truck, passenger car and farm segments.

For the quarter ended December 2025, consolidated revenue rose nearly 12 percent year on year to INR 77.4 billion, the highest quarterly revenue on both a standalone and consolidated basis, the company said. EBITDA stood at INR 11.9 billion, with a margin of 15.3 percent, compared with 14.9 percent in the previous quarter and 13.7 percent a year earlier.

In India, revenue was INR 51.4 billion, up more than 13 percent, with mid-teens volume growth in OEM and replacement channels and exports growth just short of 20 percent. The company said utilisation across India operations was in the high 80s for both passenger car radial and truck and bus radial tyres.

In Europe, revenue was €180 million, broadly flat year on year, reflecting a subdued market. The European passenger car replacement market declined 4 percent in the quarter. EBITDA in Europe was €32 million, with a margin of 17.9 percent, compared with 17.7 percent a year earlier and 12.7 percent in the preceding quarter.

In Europe, the group will close its Enschede plant in the Netherlands by the end of June 2026. Production is being transitioned to Hungary and India. Management expects the benefits of the restructuring to begin flowing through from the second half of FY2027, although it declined to provide margin guidance.

The India expansion will lift passenger car tyre capacity by 10,500 tyres per day from an existing base of about 58,000 tyres per day, an increase of 17–18 percent. Truck and bus radial capacity of more than 15,000 tyres per day will rise by 3,600 tyres per day, or more than 20 percent. Some capacity will come on stream in FY2028, with the full benefit expected by FY2030.

Gaurav Kumar, Chief Financial Officer, said the expansion equates to roughly INR 170 million per metric tonne of added capacity, compared with INR 115-120 million per tonne in the previous Andhra investment in FY2021. The increase reflects “inflationary pressures” and the adoption of “state-of-the-art” technology to cater to global OEMs in India, Europe and the US.

He added that the decision marked a shift from incremental debottlenecking to larger civil construction. “We reached a stage where we could not further increase the capacity by line balancing and hence, any further increase in capacity needed civil,” Kumar said.

The company expects to take on some additional debt during the capex cycle. Consolidated net debt fell to INR 13 billion at the end of December 2025, from INR 26 billion at the end of September, driven by lower short-term borrowings and stronger operational cash flow. Net debt to EBITDA declined to 0.4 times from 0.8 times.

Kumar said net debt to EBITDA would remain below the long-term ceiling of 2.0 times “even at the peak levels” of capex.

Return on capital employed is running at 13.5 percent, below the 15 percent target previously outlined by the group. Management said it would revisit capital allocation and return metrics as it formulates a new five-year plan to March 2031.

On raw materials, the company expects costs to remain steady in the fourth quarter. In the December quarter, natural rubber was about INR 195 per kg, synthetic rubber INR 170 per kg, carbon black INR 115 per kg and steel cord about INR 155 per kg.

Apollo does not hedge rubber or crude oil. “We came to the conclusion to stay away from rubber or crude oil hedging,” Kumar said. Foreign currency borrowings are fully hedged, while operational exposure in India is hedged between 75 percent and 100 per cent.

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Kuraray America, Inc. marked National STEM Day on 8 November by spotlighting a community educational event that brought together 15 of its volunteers and students from the Houston Japanese Supplementary School at San Jacinto College for a day of hands-on exploration and discovery.

Participants engaged in activities illustrating how science, technology, engineering and mathematics (STEM) converge in chemical manufacturing. Experiments with superabsorbent polymer beads explored chemistry and material properties, while a tour of the college’s facilities introduced industrial equipment. Students also learned about water filtration and distillation processes and how mathematical concepts underpin scientific and engineering applications.

One student showed particular interest in the distillation tower, linking the experience to the Kuraray Group’s contributions to everyday life and its mission of achieving for people and the planet what no one else can. The event also benefited KAI volunteers, who shared technical knowledge, exchanged perspectives and learned alongside potential future scientists and engineers.

Kuraray America thanked Reiko Fuwa and Tomohiro Tani for coordinating the visit, Hans Vandommele for sharing his expertise and all 15 KAI volunteers. The company also expressed appreciation to San Jacinto College for facility access and to the Houston Japanese Supplementary School students for their curiosity, enthusiasm and thoughtful questions.

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Liberty Tire Recycling attended the 2026 SEMA Show in Las Vegas, held from 3–6 November at the Las Vegas Convention Center. The automotive aftermarket event, one of the industry's largest, drew over 160,000 attendees from the automotive, tyre and transportation sectors to review new products, technologies and business opportunities.

The Lakin Tire brand, a consistent SEMA exhibitor, once again used the show to reinforce industry relationships and present Liberty's tyre collection, recycling and sustainable resource management capabilities. Personnel from Grade/Used Tires, Commercial Truck Tires, Metals, Recycling and Collection, together with corporate and regional leadership, met customers, suppliers and industry professionals from around the world.

The booth received existing and prospective customers from numerous tyre and automotive segments during the week. Costco Wholesale Corporate Office, United Tires and UTU Wholesale were among the organisations that stopped by to examine Liberty Tire's products, services and nationwide reach. The company viewed the event as an effective forum for monitoring emerging market trends and demonstrating its position in recycling and sustainability, alongside its focus on innovation, workforce development and circular economy principles.

A memorable moment came when a high school shop teacher and students, attending through a special educator programme, toured the booth to learn about tyre recycling and industry operations. Liberty team members provided industry insights, outlined career pathways and acknowledged educators' contribution to developing future skilled trades professionals, supplying tyre inflation gauges for classroom use.

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Laufenn, Hankook's associate brand, earned a ‘Good’ ratingwith an overall score of 2.2 for its G Fit 4S in the Auto Bild Allrad all-season SUV tyre test published on 8 October 2026 (issue 41). The tyre competed credibly against 11 rivals from established premium marques, finishing competitively in a 12-strong field.

Wet handling proved a particular strength, with the G Fit 4S collecting the second-highest rating shared with other models. Aquaplaning resistance also impressed, as the tyre held its line until stability began to fade at roughly 100 kmph (62 mph). In snow, it recorded the third-shortest braking distance, matching two other contenders.

Testing spanned snow, wet and dry disciplines, each weighted equally in the final ranking, with a third-generation MINI Countryman serving as the test vehicle. Snow assessments were carried out in New Zealand, while European venues hosted the wet and dry evaluations. The jury's conclusion underscored Laufenn's value-focused positioning, finding the G Fit 4S a solid option for cost-conscious buyers.

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Tyres Europe has underscored that tyres qualify as fully recyclable under ISO 22628:2002 and UN Regulation No. 133, describing the established methodology as a robust foundation for assessing tyre recyclability. The organisation recently set out its position on the matter.

The distinction between recyclability and actual recycling rates is central to the group's argument. Recyclability refers to the technical potential of a product and its materials to be recycled, while the real rate hinges on treatment capacity and demand for secondary raw materials. Regulatory frameworks should therefore separate the two concepts clearly and align with an internationally recognised standard.

Tyres consist of rubber compounds, chemical additives and reinforcing textile and steel cords, and at end of life they are separated into rubber, textile and steel fractions, all of which existing mechanical or chemical routes can recycle. Mechanical processing yields rubber granules and powders usable as secondary raw materials across many applications, recovered textiles can be further processed and valorised, and cleaned recovered steel can re-enter metal recycling and steelmaking.

Tyres Europe pledged continued cooperation with policymakers and value-chain partners to strengthen circularity and maximise recovery of valuable tyre materials in Europe, with the full paper available on its website.

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