Apollo Tyres Ltd
Apollo, established in 1972, manufactures automatic bias and radial tyres, and tubes. It has plants in Kochi, Vadodara, Pune, and Chennai. The product profile includes prominent tyre brands in the T&B, light truck, passenger car, and farm vehicle segments in India, catering to both original equipment manufacturers, and the replacement market. [1]
- Market Cap ₹ 29,926 Cr.
- Current Price ₹ 471
- High / Low ₹ 585 / 368
- Stock P/E 45.2
- Book Value ₹ 168
- Dividend Yield 1.27 %
- ROCE 9.78 %
- ROE 6.28 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 46.2%
Cons
- Stock is trading at 2.80 times its book value
- The company has delivered a poor sales growth of 10.4% over past five years.
- Company has a low return on equity of 7.83% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,712 | 8,967 | 8,757 | 8,934 | 10,302 | 12,354 | 11,068 | 11,733 | 14,649 | 17,301 | 17,539 | 18,174 | |
7,605 | 7,646 | 7,185 | 7,600 | 9,050 | 10,871 | 9,665 | 9,696 | 13,215 | 15,188 | 14,440 | 15,983 | |
Operating Profit | 1,107 | 1,322 | 1,572 | 1,334 | 1,252 | 1,483 | 1,403 | 2,038 | 1,435 | 2,113 | 3,100 | 2,191 |
OPM % | 13% | 15% | 18% | 15% | 12% | 12% | 13% | 17% | 10% | 12% | 18% | 12% |
6 | 35 | 202 | 132 | 120 | -89 | 29 | 111 | 126 | 75 | 60 | 65 | |
Interest | 250 | 176 | 94 | 92 | 140 | 142 | 229 | 383 | 386 | 469 | 407 | 366 |
Depreciation | 248 | 247 | 265 | 288 | 364 | 446 | 621 | 713 | 824 | 907 | 916 | 929 |
Profit before tax | 614 | 934 | 1,415 | 1,086 | 867 | 806 | 581 | 1,052 | 350 | 812 | 1,837 | 960 |
Tax % | 28% | 31% | 29% | 26% | 28% | 27% | 13% | 31% | 25% | 36% | 37% | 34% |
443 | 645 | 1,002 | 803 | 622 | 592 | 509 | 723 | 261 | 520 | 1,154 | 629 | |
EPS in Rs | 8.78 | 12.67 | 19.69 | 15.77 | 10.88 | 10.35 | 8.89 | 11.38 | 4.11 | 8.19 | 18.17 | 9.91 |
Dividend Payout % | 9% | 16% | 10% | 19% | 28% | 31% | 34% | 31% | 79% | 55% | 33% | 50% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 10% |
3 Years: | 7% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 0% |
5 Years: | 5% |
3 Years: | 38% |
TTM: | -44% |
Stock Price CAGR | |
---|---|
10 Years: | 11% |
5 Years: | 35% |
3 Years: | 31% |
1 Year: | -3% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 7% |
3 Years: | 8% |
Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 50 | 51 | 51 | 51 | 57 | 57 | 57 | 64 | 64 | 64 | 64 | 64 |
Reserves | 2,689 | 3,220 | 4,607 | 5,280 | 7,203 | 7,584 | 7,635 | 9,409 | 9,455 | 9,537 | 10,376 | 10,609 |
1,519 | 1,102 | 783 | 1,806 | 2,545 | 2,750 | 4,394 | 4,882 | 4,938 | 4,569 | 3,663 | 3,374 | |
1,853 | 1,748 | 2,079 | 2,739 | 3,337 | 3,257 | 4,396 | 4,809 | 6,112 | 5,939 | 5,942 | 6,264 | |
Total Liabilities | 6,112 | 6,121 | 7,520 | 9,876 | 13,143 | 13,649 | 16,482 | 19,163 | 20,569 | 20,108 | 20,044 | 20,310 |
3,254 | 3,107 | 3,300 | 4,795 | 5,714 | 6,400 | 9,285 | 10,234 | 11,829 | 11,814 | 11,296 | 10,940 | |
CWIP | 35 | 130 | 416 | 621 | 672 | 655 | 1,272 | 1,030 | 548 | 134 | 190 | 181 |
Investments | 651 | 752 | 1,506 | 1,399 | 2,978 | 2,233 | 2,410 | 2,500 | 2,865 | 2,823 | 2,919 | 2,429 |
2,172 | 2,133 | 2,297 | 3,060 | 3,778 | 4,362 | 3,515 | 5,400 | 5,326 | 5,337 | 5,638 | 6,760 | |
Total Assets | 6,112 | 6,121 | 7,520 | 9,876 | 13,143 | 13,649 | 16,482 | 19,163 | 20,569 | 20,108 | 20,044 | 20,310 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,127 | 962 | 1,785 | 330 | 933 | 593 | 1,895 | 1,494 | 1,615 | 1,534 | 2,085 | 1,153 | |
-203 | -367 | -1,078 | -1,395 | -2,754 | -457 | -2,675 | -2,161 | -868 | -234 | -435 | -134 | |
-857 | -607 | -641 | 906 | 1,934 | -178 | 807 | 667 | -658 | -1,115 | -1,656 | -1,115 | |
Net Cash Flow | 67 | -12 | 66 | -159 | 113 | -42 | 27 | -0 | 90 | 184 | -5 | -96 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 10 | 13 | 12 | 16 | 19 | 23 | 15 | 23 | 38 | 34 | 39 | 46 |
Inventory Days | 80 | 76 | 75 | 121 | 96 | 93 | 97 | 109 | 90 | 71 | 81 | 94 |
Days Payable | 56 | 42 | 63 | 73 | 84 | 62 | 86 | 101 | 102 | 77 | 74 | 69 |
Cash Conversion Cycle | 34 | 46 | 24 | 64 | 31 | 54 | 25 | 31 | 27 | 27 | 45 | 70 |
Working Capital Days | -11 | 3 | -3 | 23 | 30 | 28 | -10 | -5 | -14 | -4 | 11 | 31 |
ROCE % | 22% | 26% | 31% | 19% | 12% | 11% | 7% | 11% | 5% | 9% | 16% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Copy of newspaper publication relating to notice for transfer of equity shares to IEPFA.
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Announcement Under Regulation 30 Of SEBI LODR
29 May - Reminder to shareholders to claim FY 2017-18 dividends before shares transfer to IEPF.
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 27 May
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 27 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
23 May - Apollo Tyres submits Annual Secretarial Compliance Report for FY ending March 31, 2025; no violations found.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Market Position
The company is one of India’s largest tyre manufacturers in terms of revenue. It is a prominent player in the domestic truck and bus radial (TBR), truck and bus bias, and passenger car radial (PCR) tyre segments. It had a 28%-29% market share in the truck and bus segment and around 20% in the PCR segment in FY24. [1] [2]