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 ₹ 29,624 Cr.
- Current Price ₹ 466
- High / Low ₹ 560 / 311
- Stock P/E 16.4
- Book Value ₹ 204
- Dividend Yield 0.86 %
- ROCE 10.2 %
- ROE 8.77 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 40.6%
Cons
- The company has delivered a poor sales growth of 10.6% over past five years.
- Company has a low return on equity of 7.01% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
12,153 | 12,799 | 13,412 | 12,815 | 11,849 | 13,180 | 14,843 | 17,549 | 16,350 | 17,397 | 20,948 | 24,568 | 25,367 | |
10,976 | 11,328 | 11,524 | 10,876 | 9,840 | 11,313 | 13,175 | 15,573 | 14,392 | 14,579 | 18,353 | 21,235 | 20,949 | |
Operating Profit | 1,177 | 1,471 | 1,888 | 1,939 | 2,008 | 1,867 | 1,668 | 1,976 | 1,958 | 2,818 | 2,595 | 3,333 | 4,418 |
OPM % | 10% | 11% | 14% | 15% | 17% | 14% | 11% | 11% | 12% | 16% | 12% | 14% | 17% |
2 | 107 | 48 | -31 | 110 | 148 | 114 | -77 | 24 | -478 | 118 | 64 | 79 | |
Interest | 297 | 323 | 293 | 189 | 101 | 118 | 177 | 199 | 300 | 463 | 465 | 551 | 530 |
Depreciation | 326 | 397 | 411 | 388 | 427 | 462 | 593 | 813 | 1,138 | 1,315 | 1,400 | 1,419 | 1,462 |
Profit before tax | 556 | 859 | 1,232 | 1,331 | 1,591 | 1,436 | 1,012 | 888 | 543 | 561 | 848 | 1,427 | 2,504 |
Tax % | 26% | 29% | 18% | 27% | 29% | 23% | 28% | 23% | 12% | 38% | 25% | 23% | |
410 | 612 | 1,005 | 978 | 1,123 | 1,099 | 724 | 680 | 476 | 350 | 639 | 1,105 | 1,795 | |
EPS in Rs | 8.13 | 12.15 | 19.94 | 19.21 | 22.06 | 21.59 | 12.65 | 11.88 | 8.33 | 5.51 | 10.06 | 17.39 | 28.27 |
Dividend Payout % | 6% | 4% | 4% | 10% | 9% | 14% | 24% | 27% | 36% | 63% | 32% | 26% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 11% |
3 Years: | 15% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 32% |
TTM: | 133% |
Stock Price CAGR | |
---|---|
10 Years: | 11% |
5 Years: | 16% |
3 Years: | 28% |
1 Year: | 50% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 7% |
3 Years: | 7% |
Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 2,782 | 3,340 | 4,513 | 4,991 | 6,554 | 7,239 | 9,719 | 9,983 | 9,873 | 11,380 | 11,689 | 12,814 | 12,919 |
2,872 | 2,651 | 1,613 | 1,106 | 1,547 | 3,437 | 4,661 | 5,111 | 6,764 | 7,334 | 7,061 | 6,421 | 5,533 | |
2,684 | 2,514 | 2,857 | 2,451 | 3,442 | 4,507 | 5,620 | 5,000 | 6,512 | 7,040 | 8,228 | 7,989 | 7,877 | |
Total Liabilities | 8,388 | 8,554 | 9,034 | 8,600 | 11,594 | 15,233 | 20,058 | 20,151 | 23,205 | 25,816 | 27,041 | 27,287 | 26,392 |
4,158 | 4,313 | 4,593 | 4,382 | 5,214 | 6,692 | 10,403 | 11,754 | 15,448 | 16,420 | 17,591 | 17,653 | 17,015 | |
CWIP | 331 | 320 | 46 | 218 | 994 | 2,915 | 2,304 | 1,539 | 1,642 | 1,107 | 618 | 253 | 322 |
Investments | 16 | 55 | 64 | 101 | 506 | 396 | 1,342 | 6 | 19 | 110 | 481 | 436 | 190 |
3,884 | 3,867 | 4,330 | 3,899 | 4,880 | 5,230 | 6,008 | 6,852 | 6,096 | 8,181 | 8,350 | 8,946 | 8,866 | |
Total Assets | 8,388 | 8,554 | 9,034 | 8,600 | 11,594 | 15,233 | 20,058 | 20,151 | 23,205 | 25,816 | 27,041 | 27,287 | 26,392 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
752 | 1,275 | 1,645 | 1,412 | 2,122 | 902 | 1,720 | 1,071 | 2,517 | 2,447 | 2,154 | 2,134 | |
-807 | -599 | -119 | -796 | -2,226 | -3,368 | -3,891 | -1,027 | -2,817 | -2,342 | -1,172 | -476 | |
30 | -505 | -1,208 | -684 | -255 | 1,895 | 2,321 | -62 | 472 | 152 | -1,081 | -1,692 | |
Net Cash Flow | -25 | 171 | 319 | -68 | -358 | -571 | 150 | -18 | 173 | 257 | -100 | -34 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 34 | 29 | 28 | 27 | 33 | 31 | 35 | 27 | 21 | 29 | 36 | 37 |
Inventory Days | 91 | 93 | 97 | 92 | 119 | 140 | 128 | 125 | 129 | 129 | 122 | 110 |
Days Payable | 59 | 46 | 59 | 46 | 95 | 92 | 106 | 74 | 93 | 109 | 104 | 84 |
Cash Conversion Cycle | 66 | 76 | 67 | 73 | 58 | 80 | 57 | 78 | 57 | 49 | 54 | 64 |
Working Capital Days | 31 | 32 | 19 | 27 | 25 | 25 | 18 | 31 | 10 | 11 | 12 | 24 |
ROCE % | 17% | 20% | 26% | 26% | 23% | 16% | 9% | 9% | 5% | 9% | 7% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Resignation of Mr. Vikram Garga, Group Head - Marketing (APMEA)
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 22 Mar
- Announcement under Regulation 30 (LODR)-Resignation of Director 21 Mar
- Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 18 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 12 Mar
Annual reports
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Financial Year 2023
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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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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]