Update: Apollo factories running again
Following serious flooding in Kerala state, India, Apollo Tyres wrote to the stock exchange warning of plan shutdowns in light of the adverse conditions. However, less 48 hours after that letter was published, Apollo has announced that production resumed at the two affected facilities two days ago. Therefore the gap in active manufacturing caused by the floods must have been minimal. Tyres & Accessories understands that production is currently running at around 30 per cent. Manufacturing is expected to increase back up to 100 per cent production levels during the next week.