Apollo Tyres Ltd

Apollo Tyres Ltd

₹ 499 -0.58%
24 Jun - 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 31,701 Cr.
  • Current Price 499
  • High / Low 560 / 365
  • Stock P/E 17.9
  • Book Value 219
  • Dividend Yield 1.20 %
  • ROCE 16.4 %
  • ROE 13.2 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 26.8%

Cons

  • The company has delivered a poor sales growth of 7.66% over past five years.
  • Company has a low return on equity of 9.35% 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
5,026 4,584 5,077 5,707 5,578 5,942 5,956 6,423 6,247 6,245 6,280 6,595 6,258
4,211 4,018 4,439 4,965 4,952 5,252 5,244 5,509 5,249 5,193 5,120 5,387 5,230
Operating Profit 815 567 638 743 626 690 712 913 998 1,051 1,160 1,208 1,028
OPM % 16% 12% 13% 13% 11% 12% 12% 14% 16% 17% 18% 18% 16%
61 40 25 16 37 11 7 7 40 22 13 3 38
Interest 104 105 104 108 128 118 132 142 139 135 133 123 115
Depreciation 348 340 340 344 375 344 349 354 372 362 360 368 388
Profit before tax 423 161 219 307 160 238 238 424 527 576 680 721 563
Tax % 32% 21% 21% 27% 29% 20% 25% 31% 22% 31% 30% 31% 37%
287 128 174 224 113 191 179 292 410 397 474 497 354
EPS in Rs 4.52 2.01 2.74 3.52 1.79 3.00 2.82 4.60 6.46 6.25 7.47 7.82 5.58
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12,799 13,412 12,815 11,849 13,180 14,843 17,549 16,350 17,397 20,948 24,568 25,378
11,328 11,524 10,876 9,840 11,313 13,175 15,573 14,392 14,579 18,353 21,235 20,930
Operating Profit 1,471 1,888 1,939 2,008 1,867 1,668 1,976 1,958 2,818 2,595 3,333 4,447
OPM % 11% 14% 15% 17% 14% 11% 11% 12% 16% 12% 14% 18%
107 48 -31 110 148 114 -77 24 -478 118 64 77
Interest 323 293 189 101 118 177 199 300 463 465 551 506
Depreciation 397 411 388 427 462 593 813 1,138 1,315 1,400 1,419 1,478
Profit before tax 859 1,232 1,331 1,591 1,436 1,012 888 543 561 848 1,427 2,540
Tax % 29% 18% 27% 29% 23% 28% 23% 12% 38% 25% 23% 32%
612 1,005 978 1,123 1,099 724 680 476 350 639 1,105 1,722
EPS in Rs 12.15 19.94 19.21 22.06 21.59 12.65 11.88 8.33 5.51 10.06 17.39 27.11
Dividend Payout % 4% 4% 10% 9% 14% 24% 27% 36% 63% 32% 26% 22%
Compounded Sales Growth
10 Years: 7%
5 Years: 8%
3 Years: 13%
TTM: 3%
Compounded Profit Growth
10 Years: 5%
5 Years: 16%
3 Years: 36%
TTM: 64%
Stock Price CAGR
10 Years: 10%
5 Years: 20%
3 Years: 31%
1 Year: 24%
Return on Equity
10 Years: 10%
5 Years: 8%
3 Years: 9%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 50 50 51 51 51 57 57 57 64 64 64 64
Reserves 3,340 4,513 4,991 6,554 7,239 9,719 9,983 9,873 11,380 11,689 12,814 13,839
2,651 1,613 1,106 1,547 3,437 4,661 5,111 6,764 7,334 7,061 6,421 4,905
2,514 2,857 2,451 3,442 4,507 5,620 5,000 6,512 7,040 8,228 7,989 8,150
Total Liabilities 8,554 9,034 8,600 11,594 15,233 20,058 20,151 23,205 25,816 27,041 27,287 26,957
4,313 4,593 4,382 5,214 6,692 10,403 11,754 15,448 16,420 17,591 17,653 17,071
CWIP 320 46 218 994 2,915 2,304 1,539 1,642 1,107 618 253 283
Investments 55 64 101 506 396 1,342 6 19 110 481 436 532
3,867 4,330 3,899 4,880 5,230 6,008 6,852 6,096 8,181 8,350 8,946 9,072
Total Assets 8,554 9,034 8,600 11,594 15,233 20,058 20,151 23,205 25,816 27,041 27,287 26,957

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,275 1,645 1,412 2,122 902 1,720 1,071 2,517 2,447 2,154 2,134 3,440
-599 -119 -796 -2,226 -3,368 -3,891 -1,027 -2,817 -2,342 -1,172 -476 -711
-505 -1,208 -684 -255 1,895 2,321 -62 472 152 -1,081 -1,692 -2,659
Net Cash Flow 171 319 -68 -358 -571 150 -18 173 257 -100 -34 70

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 29 28 27 33 31 35 27 21 29 36 37 38
Inventory Days 93 97 92 119 140 128 125 129 129 122 110 113
Days Payable 46 59 46 95 92 106 74 93 109 104 84 80
Cash Conversion Cycle 76 67 73 58 80 57 78 57 49 54 64 72
Working Capital Days 32 19 27 25 25 18 31 10 11 12 24 37
ROCE % 20% 26% 26% 23% 16% 9% 9% 5% 9% 7% 10%

Shareholding Pattern

Numbers in percentages

20 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
37.60% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.36%
22.87% 20.48% 19.66% 19.43% 20.71% 21.75% 22.88% 22.35% 23.41% 22.10% 17.96% 18.16%
15.66% 18.04% 18.39% 18.55% 17.47% 17.88% 17.13% 17.78% 17.22% 17.74% 22.02% 21.99%
1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57%
22.30% 22.57% 23.04% 23.10% 22.91% 21.46% 21.08% 20.94% 20.46% 21.26% 21.10% 20.93%
No. of Shareholders 2,67,2182,90,0773,13,8373,28,1793,22,7772,81,7282,85,1922,82,6492,86,7773,33,8273,36,8463,72,372

* 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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