Apollo Tyres Ltd

Apollo Tyres Ltd

₹ 426 0.83%
29 Nov - 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 27,062 Cr.
  • Current Price 426
  • High / Low 441 / 302
  • Stock P/E 17.0
  • Book Value 204
  • Dividend Yield 0.94 %
  • 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.
  • Promoter holding has decreased over last 3 years: -4.41%

* 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

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
4,295 5,195 5,026 4,584 5,077 5,707 5,578 5,942 5,956 6,423 6,247 6,245 6,280
3,588 4,164 4,211 4,018 4,439 4,965 4,952 5,252 5,244 5,509 5,249 5,193 5,120
Operating Profit 707 1,030 815 567 638 743 626 690 712 913 998 1,051 1,160
OPM % 16% 20% 16% 12% 13% 13% 11% 12% 12% 14% 16% 17% 18%
-575 17 61 40 25 16 37 11 7 7 40 22 13
Interest 117 105 104 105 104 108 128 118 132 142 139 135 133
Depreciation 331 327 348 340 340 344 375 344 349 354 372 362 360
Profit before tax -315 615 423 161 219 307 160 238 238 424 527 576 680
Tax % 22% 28% 32% 21% 21% 27% 29% 20% 25% 31% 19% 31% 30%
-246 444 287 128 174 224 113 191 179 292 427 397 474
EPS in Rs -4.31 6.99 4.52 2.01 2.74 3.52 1.79 3.00 2.82 4.60 6.73 6.25 7.47
Raw PDF

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 25,194
10,976 11,328 11,524 10,876 9,840 11,313 13,175 15,573 14,392 14,579 18,353 21,235 21,071
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 4,123
OPM % 10% 11% 14% 15% 17% 14% 11% 11% 12% 16% 12% 14% 16%
2 107 48 -31 110 148 114 -77 24 -478 118 64 82
Interest 297 323 293 189 101 118 177 199 300 463 465 551 549
Depreciation 326 397 411 388 427 462 593 813 1,138 1,315 1,400 1,419 1,449
Profit before tax 556 859 1,232 1,331 1,591 1,436 1,012 888 543 561 848 1,427 2,207
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 1,591
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 25.05
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: 9%
Compounded Profit Growth
10 Years: 6%
5 Years: 8%
3 Years: 32%
TTM: 125%
Stock Price CAGR
10 Years: 18%
5 Years: 12%
3 Years: 32%
1 Year: 35%
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%

Shareholding Pattern

Numbers in percentages

Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
37.61% 37.31% 37.60% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34% 37.34%
20.80% 24.27% 22.87% 20.48% 19.66% 19.43% 20.71% 21.75% 22.88% 22.35% 23.41% 22.10%
12.36% 11.54% 15.66% 18.04% 18.39% 18.55% 17.47% 17.88% 17.13% 17.78% 17.22% 17.74%
1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57%
27.66% 25.30% 22.30% 22.57% 23.04% 23.10% 22.91% 21.46% 21.08% 20.94% 20.46% 21.26%
No. of Shareholders 2,18,0602,37,5032,67,2182,90,0773,13,8373,28,1793,22,7772,81,7282,85,1922,82,6492,86,7773,33,827

* 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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