Apollo Tyres Ltd

Apollo Tyres Ltd

₹ 524 0.17%
23 Feb - close price
About

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]

Key Points

Brands
Company is the owner of 2 brands of tyres, Apollo & Vredestein. Apollo brand primarily manufactures tyres for the Indian Sub-continent. The Vredestein brand operates in Europe and is over 110 years old & has achieved premium brand premium brand status in the industry. [1]

  • Market Cap 33,263 Cr.
  • Current Price 524
  • High / Low 560 / 303
  • Stock P/E 27.2
  • Book Value 157
  • Dividend Yield 0.76 %
  • ROCE 8.79 %
  • ROE 5.89 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 53.1%

Cons

  • Stock is trading at 3.34 times its book value
  • Company has a low return on equity of 5.60% 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.

Peer comparison

Sector: Tyres Industry: Tyres

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,419 3,630 3,220 3,650 3,792 3,988 4,436 4,252 4,247 4,366 4,413 4,407 4,332
2,686 3,069 2,886 3,274 3,447 3,612 4,007 3,815 3,698 3,670 3,627 3,565 3,548
Operating Profit 733 561 334 376 345 376 429 437 548 696 787 841 784
OPM % 21% 15% 10% 10% 9% 9% 10% 10% 13% 16% 18% 19% 18%
17 55 37 31 19 38 29 19 10 17 15 22 -2
Interest 89 86 89 90 95 108 106 121 123 118 110 106 100
Depreciation 177 191 192 195 203 234 216 223 227 242 226 228 228
Profit before tax 483 340 89 123 66 72 136 113 209 353 466 530 454
Tax % 31% 34% 24% 27% 26% 25% 23% 42% 34% 28% 35% 35% 35%
335 225 68 90 49 54 104 66 138 256 303 344 296
EPS in Rs 5.28 3.54 1.07 1.41 0.77 0.85 1.64 1.04 2.17 4.03 4.77 5.42 4.65
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
8,158 8,512 8,712 8,967 8,757 8,934 10,302 12,354 11,068 11,733 14,649 17,301 17,518
7,484 7,603 7,605 7,646 7,185 7,600 9,050 10,871 9,665 9,696 13,215 15,188 14,410
Operating Profit 674 908 1,107 1,322 1,572 1,334 1,252 1,483 1,403 2,038 1,435 2,113 3,109
OPM % 8% 11% 13% 15% 18% 15% 12% 12% 13% 17% 10% 12% 18%
17 53 6 35 202 132 120 -89 29 111 126 75 52
Interest 247 267 250 176 94 92 140 142 229 383 386 469 433
Depreciation 186 220 248 247 265 288 364 446 621 713 824 907 924
Profit before tax 258 475 614 934 1,415 1,086 867 806 581 1,052 350 812 1,804
Tax % 30% 34% 28% 31% 29% 26% 28% 27% 13% 31% 25% 29%
181 313 443 645 1,002 803 622 592 509 723 261 579 1,199
EPS in Rs 3.60 6.20 8.78 12.67 19.69 15.77 10.88 10.35 8.89 11.38 4.11 9.11 18.87
Dividend Payout % 14% 8% 9% 16% 10% 19% 28% 31% 34% 31% 79% 49%
Compounded Sales Growth
10 Years: 7%
5 Years: 11%
3 Years: 16%
TTM: 4%
Compounded Profit Growth
10 Years: 6%
5 Years: -2%
3 Years: 4%
TTM: 238%
Stock Price CAGR
10 Years: 15%
5 Years: 20%
3 Years: 30%
1 Year: 64%
Return on Equity
10 Years: 10%
5 Years: 7%
3 Years: 6%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 50 50 50 51 51 51 57 57 57 64 64 64 64
Reserves 1,997 2,280 2,679 3,220 4,607 5,280 7,203 7,584 7,635 9,409 9,455 9,836 9,899
2,148 2,102 1,519 1,102 783 1,806 2,545 2,750 4,394 4,882 4,938 4,569 4,054
1,570 1,433 1,864 1,748 2,079 2,739 3,337 3,257 4,396 4,809 6,112 5,646 5,611
Total Liabilities 5,766 5,866 6,112 6,121 7,520 9,876 13,143 13,649 16,482 19,163 20,569 20,115 19,628
2,851 3,071 3,254 3,107 3,300 4,795 5,714 6,400 9,285 10,234 11,829 11,814 11,464
CWIP 311 249 35 130 416 621 672 655 1,272 1,030 548 134 179
Investments 563 613 651 752 1,506 1,399 2,978 2,233 2,410 2,500 2,865 2,823 2,580
2,042 1,933 2,172 2,133 2,297 3,060 3,778 4,362 3,515 5,400 5,326 5,343 5,405
Total Assets 5,766 5,866 6,112 6,121 7,520 9,876 13,143 13,649 16,482 19,163 20,569 20,115 19,628

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
539 767 1,127 962 1,785 330 933 593 1,895 1,494 1,615 1,531
-547 -403 -203 -367 -1,078 -1,395 -2,754 -457 -2,675 -2,161 -868 -232
-21 -321 -857 -607 -641 906 1,934 -178 807 667 -658 -1,115
Net Cash Flow -29 44 67 -12 66 -159 113 -42 27 -0 90 184

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 16 13 10 13 12 16 19 23 15 23 38 34
Inventory Days 65 67 80 76 75 121 96 93 97 109 90 71
Days Payable 49 36 56 42 63 73 84 62 86 101 102 76
Cash Conversion Cycle 32 44 34 46 24 64 31 54 25 31 27 29
Working Capital Days 14 14 -11 3 -3 23 30 28 -10 -5 -14 -4
ROCE % 13% 17% 22% 26% 31% 19% 12% 11% 7% 11% 5% 9%

Shareholding Pattern

Numbers in percentages

27 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
37.31% 37.60% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34%
24.27% 22.87% 20.48% 19.66% 19.43% 20.71% 21.75% 22.88% 22.35% 23.41% 22.10% 17.96%
11.54% 15.66% 18.04% 18.39% 18.55% 17.47% 17.88% 17.13% 17.78% 17.22% 17.74% 22.02%
1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57%
25.30% 22.30% 22.57% 23.04% 23.10% 22.91% 21.46% 21.08% 20.94% 20.46% 21.26% 21.10%
No. of Shareholders 2,37,5032,67,2182,90,0773,13,8373,28,1793,22,7772,81,7282,85,1922,82,6492,86,7773,33,8273,36,846

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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