|
03 Sep 2025 |
Apollo Tyres
|
Consensus Share Price Target
|
485.65 |
509.29 |
- |
4.87 |
buy
|
|
|
|
|
15 May 2023
|
Apollo Tyres
|
Geojit BNP Paribas
|
485.65
|
386.00
|
362.90
(33.82%)
|
Target met |
Hold
|
|
|
|
|
11 May 2023
|
Apollo Tyres
|
BP Wealth
|
485.65
|
|
368.05
(31.95%)
|
|
Results Update
|
|
|
|
|
11 May 2023
|
Apollo Tyres
|
ICICI Direct
|
485.65
|
420.00
|
368.60
(31.76%)
|
Target met |
Hold
|
|
|
|
|
10 May 2023
|
Apollo Tyres
|
Motilal Oswal
|
485.65
|
430.00
|
368.60
(31.76%)
|
Target met |
Buy
|
|
|
|
|
10 May 2023
|
Apollo Tyres
|
ICICI Securities Limited
|
485.65
|
424.00
|
368.60
(31.76%)
|
Target met |
Buy
|
|
|
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.
|
|
07 Feb 2023
|
Apollo Tyres
|
ICICI Direct
|
485.65
|
390.00
|
328.10
(48.02%)
|
Target met |
Buy
|
|
|
|
|
07 Feb 2023
|
Apollo Tyres
|
ICICI Securities Limited
|
485.65
|
400.00
|
338.30
(43.56%)
|
Target met |
Buy
|
|
|
Apollo Tyres’ (ATPY) Q3FY23 EBITDA margin at 14.2% (up 220bps QoQ) was 50bps ahead of our estimate despite cost inflation and weak demand in the EU. EU revenues were up 6% YoY to Rs21bn despite ~14% YoY decline in the PCR industry. India volume was down 4% YoY despite OEM volume growth of ~30% as replacement demand was down 8% and exports down 25%.
|
|
06 Feb 2023
|
Apollo Tyres
|
Motilal Oswal
|
485.65
|
395.00
|
338.30
(43.56%)
|
Target met |
Buy
|
|
|
|
|
06 Dec 2022
|
Apollo Tyres
|
Geojit BNP Paribas
|
485.65
|
358.00
|
315.95
(53.71%)
|
Target met |
Accumulate
|
|
|
|
|
16 Nov 2022
|
Apollo Tyres
|
ICICI Securities Limited
|
485.65
|
343.00
|
297.70
(63.13%)
|
Target met |
Buy
|
|
|
Apollo Tyres’ (ATPY) Q2FY23 EBITDA margin at 12% (up 35bps QoQ) was ahead of our estimate (11.5%) despite an adverse raw material cost environment (RM/sales ratio was the highest in a decade).
|