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 ₹ 12,007 Cr.
- Current Price ₹ 189
- High / Low ₹ 250 / 165
- Stock P/E 18.9
- Book Value ₹ 185
- Dividend Yield 1.72 %
- ROCE 6.98 %
- ROE 5.49 %
- Face Value ₹ 1.00
Pros
- Stock is trading at 1.02 times its book value
- Company has been maintaining a healthy dividend payout of 44.77%
Cons
- The company has delivered a poor sales growth of 9.71% over past five years.
- Company has a low return on equity of 5.70% for last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -3.56%
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,868 | 12,153 | 12,799 | 13,412 | 12,815 | 11,849 | 13,180 | 14,843 | 17,549 | 16,350 | 17,397 | 20,948 | |
7,895 | 10,976 | 11,328 | 11,524 | 10,876 | 9,840 | 11,313 | 13,175 | 15,573 | 14,392 | 14,579 | 18,353 | |
Operating Profit | 972 | 1,177 | 1,471 | 1,888 | 1,939 | 2,008 | 1,867 | 1,668 | 1,976 | 1,958 | 2,818 | 2,595 |
OPM % | 11% | 10% | 11% | 14% | 15% | 17% | 14% | 11% | 11% | 12% | 16% | 12% |
51 | 2 | 107 | 48 | -31 | 110 | 148 | 114 | -77 | 24 | -478 | 118 | |
Interest | 204 | 297 | 323 | 293 | 189 | 101 | 118 | 177 | 199 | 300 | 463 | 465 |
Depreciation | 272 | 326 | 397 | 411 | 388 | 427 | 462 | 593 | 813 | 1,138 | 1,315 | 1,400 |
Profit before tax | 547 | 556 | 859 | 1,232 | 1,331 | 1,591 | 1,436 | 1,012 | 888 | 543 | 561 | 848 |
Tax % | 19% | 26% | 29% | 18% | 27% | 29% | 23% | 28% | 23% | 12% | 38% | 25% |
Net Profit | 440 | 410 | 613 | 1,005 | 978 | 1,123 | 1,099 | 724 | 680 | 476 | 350 | 639 |
EPS in Rs | 8.73 | 8.13 | 12.15 | 19.94 | 19.21 | 22.06 | 21.59 | 12.65 | 11.88 | 8.33 | 5.51 | 10.06 |
Dividend Payout % | 6% | 6% | 4% | 4% | 10% | 9% | 14% | 24% | 27% | 36% | 63% | 35% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 10% |
3 Years: | 6% |
TTM: | 20% |
Compounded Profit Growth | |
---|---|
10 Years: | 4% |
5 Years: | -10% |
3 Years: | -9% |
TTM: | -13% |
Stock Price CAGR | |
---|---|
10 Years: | 9% |
5 Years: | -6% |
3 Years: | -2% |
1 Year: | -17% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 7% |
3 Years: | 6% |
Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
50 | 50 | 50 | 50 | 51 | 51 | 51 | 57 | 57 | 57 | 64 | 64 | |
Reserves | 2,362 | 2,782 | 3,340 | 4,513 | 4,991 | 6,554 | 7,239 | 9,719 | 9,983 | 9,873 | 11,380 | 11,689 |
2,480 | 2,872 | 2,651 | 1,613 | 1,106 | 1,547 | 3,437 | 4,661 | 5,111 | 6,764 | 7,334 | 6,985 | |
2,413 | 2,684 | 2,514 | 2,857 | 2,451 | 3,442 | 4,507 | 5,620 | 5,000 | 6,512 | 7,040 | 7,863 | |
Total Liabilities | 7,306 | 8,388 | 8,554 | 9,034 | 8,600 | 11,594 | 15,233 | 20,058 | 20,151 | 23,205 | 25,816 | 26,600 |
3,519 | 4,158 | 4,313 | 4,593 | 4,382 | 5,214 | 6,692 | 10,403 | 11,754 | 15,448 | 16,420 | 17,591 | |
CWIP | 358 | 331 | 320 | 46 | 218 | 994 | 2,915 | 2,304 | 1,539 | 1,642 | 1,107 | 618 |
Investments | 11 | 16 | 55 | 64 | 101 | 506 | 396 | 1,342 | 6 | 19 | 110 | 491 |
3,418 | 3,884 | 3,867 | 4,330 | 3,899 | 4,880 | 5,230 | 6,008 | 6,852 | 6,096 | 8,181 | 7,900 | |
Total Assets | 7,306 | 8,388 | 8,554 | 9,034 | 8,600 | 11,594 | 15,233 | 20,058 | 20,151 | 23,205 | 25,816 | 26,600 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
416 | 752 | 1,275 | 1,645 | 1,412 | 2,122 | 902 | 1,720 | 1,071 | 2,517 | 2,447 | 2,239 | |
-1,088 | -807 | -599 | -119 | -796 | -2,226 | -3,368 | -3,891 | -1,027 | -2,817 | -2,342 | -1,181 | |
516 | 30 | -505 | -1,208 | -684 | -255 | 1,895 | 2,321 | -62 | 472 | 152 | -1,175 | |
Net Cash Flow | -156 | -25 | 171 | 319 | -68 | -358 | -571 | 150 | -18 | 173 | 257 | -118 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 39 | 34 | 29 | 28 | 27 | 33 | 31 | 35 | 27 | 21 | 29 | 28 |
Inventory Days | 120 | 91 | 93 | 97 | 92 | 119 | 140 | 128 | 125 | 129 | 129 | 122 |
Days Payable | 68 | 49 | 44 | 53 | 45 | 85 | 78 | 89 | 74 | 93 | 109 | 106 |
Cash Conversion Cycle | 92 | 76 | 77 | 72 | 74 | 67 | 94 | 74 | 78 | 57 | 49 | 44 |
Working Capital Days | 30 | 31 | 32 | 19 | 27 | 25 | 25 | 18 | 31 | 10 | 11 | 14 |
ROCE % | 17% | 17% | 20% | 26% | 26% | 23% | 16% | 9% | 9% | 5% | 9% | 7% |
Documents
Announcements
- Closure of Trading Window 2d
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Announcement under Regulation 30 (LODR)-Newspaper Publication
20 Jun - The electronic copies of Notice of 49th AGM and Annual Report for financial year ended March 31, 2022 have been sent on June 16, 2022 …
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Announcement under Regulation 30 (LODR)-Investor Presentation
17 Jun - Investor Presentation to be shared at the 'Apollo Tyres- Corporate Day 2022'
- Reg. 34 (1) Annual Report. 16 Jun
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 16 Jun
Annual reports
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Financial Year 2022
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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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Financial Year 2010
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Concalls
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Jun 2022Transcript PPT
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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]