4 WHEELS OF SUCCESS

Onkar S. Kanwar Chairman & MD, Apollo Tyres

` 45.7 crore (2016/17) ` 53.2 crore (2015/16) WITH AN ANNUAL package of ` 45.7 crore in 2016/ 17, Onkar Kanwar is fourth in the pecking order. In a career spanning over four decades, Kanwar, a Science and Administration graduate from the University of California, has lifted Apollo from a single plant Indian manufacturer of commercial vehicle (CV) tyres to a global entity with a full- fledged product portfolio, spanning three continents and six factories.

Kanwar took home a salary of ` 4.8 crore in 2016/ 17 and was also awarded a king's ransom as commission (` 33.6 crore). Perquisites added another ` 5.8 crore to his remuneration. With profits sliding on rising raw material costs, Kanwar's remuneration dipped in 2016/ 17.

Kanwar now wants to make his presence felt globally. Apollo Tyres inaugurated its first greenfield facility outside India in Hungary last year. At the same time, OEMs like Volkswagen, Ford and SEAT became its clients.

Total income rose 6.1 per cent to ` 10,676.4 crore in 2017/ 18 but profits slipped 23 per cent to ` 622.4 crore.

Kanwar sets audacious targets to determine risk taking abilities and the commitment of his workforce.

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