Apollo Tyres News and Updates

Name: Latest research reports of Apollo Tyres Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: Apollo Tyres Ltd.
Rating: 3
Author: ICICI Direct

Keep track of all breaking news on Apollo Tyres from all sources in a single place.

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Apollo Tyres Ltd.

14 May 2023

521.30

1.42%

Apollo Tyres expects double-digit revenue growth in FY24 on organic growth

Business Standard

Apollo Tyres Ltd expects double-digit revenue growth in FY24 purely on the performance of organic volume growth, according to company President Asia Pacific, Middle East and Africa, Satish Sharma. The Indian tyre industry is in a sweet spot with strong demand coming in while raw material prices are moderating, he said although reducing tyre prices would depend on competitive intensity. "We are still in the same vicinity of a double-digit growth. It is definitely on the cards," Sharma said in an interaction here. He was responding to a query on the revenue growth outlook for FY24. In 2022-23, Apollo Tyres clocked a consolidated revenue from operations of Rs 24,568 crore as against Rs 20,948 crore in 2021-22. With the base effect and impact of COVID-19 pandemic "all gone", Sharma said,"Going forward, it's all volume (growth), there is nothing that will come out of value (due to price hikes) except for a mix enrichment, which is a continuous process." For the tyre industry also, he

ICICI Direct increased Buy price target of Apollo Tyres Ltd. to 605.0 on 16 Nov, 2025.

Apollo Tyres Ltd.

13 May 2023

521.30

1.42%

Buy Apollo Tyres; target of Rs 430: Motilal Oswal

Moneycontrol

Motilal Oswal is bullish on Apollo Tyres recommended buy rating on the stock with a target price of Rs 430 in its research report dated May 10, 2023.

ICICI Direct increased Buy price target of Apollo Tyres Ltd. to 605.0 on 16 Nov, 2025.

Apollo Tyres Ltd.

11 May 2023

521.30

1.42%

BP Equities Q4FY23 Result Update Apollo Tyres Ltd

Results Update: Apollo Tyres Ltd.

BP Wealth

Apollo Tyres Ltd. is trading above all available SMAs

Apollo Tyres Ltd.

11 May 2023

521.30

1.42%

Bullish on India, expanding in the US, Middle East: Apollo Tyres VC MD Neeraj Kanwar

Moneycontrol

The Indian tyre major, which has entered into mobility services business with the launch of its new venture 'AVOLVE' offering digitised tyre management services for commercial vehicles, sees contribution from exports to increase to 45 per cent of its global revenue by 2025-26 by when it expects to clock USD 5 billion.

Promoters unpledged 0.02% of shares in last quarter. Total pledge stands at 0.05% of promoter holdings

Apollo Tyres Ltd.

11 May 2023

521.30

1.42%

Apollo Tyres

Hold: Apollo Tyres Ltd.

Recommendation Target

ICICI Direct

Promoters unpledged 0.02% of shares in last quarter. Total pledge stands at 0.05% of promoter holdings

Apollo Tyres Ltd.

10 May 2023

521.30

1.42%

Apollo Tyres Consolidated March 2023 Net Sales at Rs 6,247.33 crore, up 11.99% Y-o-Y

Moneycontrol

Promoters unpledged 0.02% of shares in last quarter. Total pledge stands at 0.05% of promoter holdings

Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand

Business Standard | 10 May 2023 5 more

Apollo Tyres Ltd.

10 May 2023

521.30

1.42%

Operationally in line; EBITDA margin likely to sustain in FY24

Buy: Apollo Tyres Ltd.

Target

Motilal Oswal

ICICI Direct increased Buy price target of Apollo Tyres Ltd. to 605.0 on 16 Nov, 2025.

Apollo Tyres Ltd.

10 May 2023

521.30

1.42%

Strong profitability aiding deleveraging

Buy: Apollo Tyres Ltd.

Target

ICICI Securities Limited

Apollo Tyres’ (ATPY) Q4FY23 standalone EBITDA margin at 16% (up 300bps QoQ) was driven by 8% QoQ decline in raw material basket (RMB) costs, improved sales mix and cost controls. EU EBIDTA margin at ~18% was up 270bps QoQ driven by lower RM prices, decline in power/freight costs and further increase in mix of UHP/all-season tyres.

Apollo Tyres Ltd. is trading above all available SMAs

Apollo Tyres Ltd.

03 May 2023

521.30

1.42%

SAP will provide cloud support to Apollo Tyres to drive digital growth

Business Standard

Enterprise application software and cloud solutions company SAP on Wednesday said it is supporting tyre manufacturer Apollo Tyres in moving their digital core onto the cloud. Under Apollo Tyres' digitalisation efforts, moving to SAP's integrated and secure cloud platform will enable the company to secure the outer perimeter of its key systems, innovate new products and services faster, and provide superior customer experiences. "SAP...today announced, it is supporting Apollo Tyres Limited (ATL)...in moving their digital core onto the cloud and transforming the company into an intelligent, sustainable enterprise," according to a statement. SAP's business transformation as a service -- RISE With SAP -- brings the products and tools in one package enabling companies to speed their cloud journey regardless of size, industry, cloud readiness, customisation, volume, or departure point, it added. ATL's move to adopt RISE With SAP reflects commitment to gain a distinctive competitive...

ICICI Direct increased Buy price target of Apollo Tyres Ltd. to 605.0 on 16 Nov, 2025.

Apollo Tyres Ltd.

26 Apr 2023

521.30

1.42%

We are looking at becoming carbon neutral by 2050: Neeraj Kanwar, Apollo Tyres

Economic Times

I am again very optimistic about Europe, given that we are a very niche player. We are targeting markets where we are less than 2% market share; France, Italy, Spain and UK are the four countries that there is clear focus as far as Apollo in Europe is concerned.