Apollo Tyres has earned the Silver Award from EcoVadis for the third year in a row, improving its score from 56 to 70. This achievement places Apollo Tyres among the top 5% of companies globally in the rubber tyre manufacturing and retreading sector.
EcoVadis, the largest provider of business sustainability ratings, evaluates companies based on Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. Companies in the top 1% get platinum, the top 5% get gold, the top 15% get silver, and the top 35% get bronze.
Apollo Tyres improved its overall performance score to the 92nd percentile in FY24, up from the 82nd percentile the previous year. This was due to a 20-point increase in the Labour and Human Rights category and a 10-point increase in Sustainable Procurement. The scores in the Environment and Ethics categories remained steady.
Apollo Tyres has focused on improving ESG assessments of its suppliers and creating livelihood opportunities for local communities, especially for women. The company also conducts training programs to raise human rights awareness among its employees. These efforts have contributed to the improved scores in the Labour and Human Rights category.
Apollo Tyres, a leading tyre manufacturer based in India, is focused on expanding its business and improving its operations. The company is set on achieving $5 billion in revenue by 2025-26 while maintaining a profit margin of over 15%.
To support this growth, Apollo Tyres is integrating advanced technologies, including cloud-based systems and digital platforms, to streamline production and logistics. They are also investing in sustainable tyre technologies and enhancing their market presence both in India and Europe. With a strong emphasis on innovation and customer satisfaction, Apollo Tyres aims to solidify its position as a global leader in the tyre industry.
