While the company is monitoring the situation closely, there are plans in place to mitigate any supply disruptions.

Apollo also added that this situation has no material impact on the company's operations at this stage.

Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary.

The tyre maker reported 123.79% surge in consolidated net profit to Rs 396.91 crore on 5.1% rise in revenue from operations to Rs 6,244.58 crore in Q1 FY24 over Q1 FY23.