Apollo Tyres Ltd - Stock Valuation and Financial Performance

BSE: 500877 | NSE: APOLLOTYRE | Tyres & Allied | Mid Cap

Apollo Tyres Share Price

468 0.30 0.06%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Apollo Tyres

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Apollo Tyres stock performance -

mw4me loader
P/E Ratio (SA):
24.78
Market Cap:
29,703.7 Cr.
52-wk low:
305.2
52-wk high:
559.9

Is Apollo Tyres Ltd an attractive stock to invest in?

1. Is Apollo Tyres Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Apollo Tyres Ltd is a average quality company.

2. Is Apollo Tyres Ltd undervalued or overvalued?

The key valuation ratios of Apollo Tyres Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Apollo Tyres Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Apollo Tyres Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Apollo Tyres:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Apollo Tyres Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 15.2%17.7%21.4%13.1%8%7.8%5.9%7.6%3.5%6.3%-
Value Creation
Index
0.10.30.60.0-0.4-0.4-0.6-0.4-0.7-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8,7128,9678,7578,93410,30212,35411,06811,73314,64917,30117,518
Sales YoY Gr.-2.9%-2.3%2%15.3%19.9%-10.4%6%24.9%18.1%-
Adj EPS 9.612.619.414.910.112.18.811.23.38.718.9
YoY Gr.-30.6%53.9%-23%-32.2%19.4%-27.5%28.5%-70.6%161.6%-
BVPS (₹) 54.164.291.4104.7126.9133.5134.4149.1149.8155.8161.5
Adj Net
Profit
4866419867595786905017142105501,198
Cash Flow from Ops. 1,1279621,7853309335931,8951,4941,6151,531-
Debt/CF from Ops. 1.41.20.45.52.74.62.32.92.72.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 7.9%10.9%16.1%18.1%
Adj EPS -1.2%-3.1%-0.3%161.6%
BVPS12.5%4.2%5.1%4%
Share Price 11.5% 16.5% 27.7% 52.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
19.121.324.915.29.29.36.58.32.25.711.9
Op. Profit
Mgn %
12.414.71814.912.21212.717.49.812.217.8
Net Profit
Mgn %
5.67.211.38.55.65.64.56.11.43.26.8
Debt to
Equity
0.60.30.20.30.40.40.60.50.50.4-
Working Cap
Days
10010611814316916818918116712654
Cash Conv.
Cycle
25251719252827142322-2

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.90%

Sales growth is growing at healthy rate in last 3 years 16.05%

Net Profit has been subdued in last 3 years -0.34%

Sales growth is not so good in last 4 quarters at 3.65%

Latest Financials - Apollo Tyres Ltd.

Standalone Consolidated
TTM EPS (₹) 18.9 28.3
TTM Sales (₹ Cr.) 17,518 25,367
BVPS (₹.) 161.5 212.2
Reserves (₹ Cr.) 10,191 13,412
P/BV 2.90 2.20
PE 24.78 16.55
From the Market
52 Week Low / High (₹) 305.15 / 559.85
All Time Low / High (₹) 3.60 / 559.85
Market Cap (₹ Cr.) 29,704
Equity (₹ Cr.) 63.5
Face Value (₹) 1
Industry PE 26.7

Management X-Ray of Apollo Tyres:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *2.812.803.053.053.051.071.071.071.071.07
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Apollo Tyres

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales8,7128,9678,7578,93410,30212,35411,06811,73314,64917,301
Operating Expenses 7,6317,6487,1887,6039,05010,8719,6659,69613,21515,188
Manufacturing Costs6306567316627517526937339341,029
Material Costs5,8815,6994,9925,2166,5458,0586,8386,9409,99211,702
Employee Cost 4535455666217107378269111,0241,026
Other Costs 6677488991,1041,0441,3241,3091,1121,2651,432
Operating Profit 1,0811,3191,5701,3311,2521,4831,4032,0381,4352,113
Operating Profit Margin (%) 12.4%14.7%17.9%14.9%12.2%12.0%12.7%17.4%9.8%12.2%
Other Income 103382041351201112912212775
Interest 2501769492140142229383386469
Depreciation 248247265288364446621713824907
Exceptional Items -710000-2000-11-10
Profit Before Tax 6149341,4151,0868678065811,052350812
Tax 1722894122832452147332989233
Profit After Tax 4436451,002803622592509723261579
PAT Margin (%) 5.1%7.2%11.4%9.0%6.0%4.8%4.6%6.2%1.8%3.3%
Adjusted EPS (₹)8.812.719.715.810.910.48.911.44.19.1
Dividend Payout Ratio (%)9%16%10%19%28%31%34%31%79%49%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2,7293,2714,6585,3317,2617,6417,6929,4739,5189,900
Share Capital 50515151575757646464
Reserves 2,6793,2204,6075,2807,2037,5847,6359,4099,4559,836
Minority Interest0000000000
Debt8947976311,6182,5122,7364,3263,7613,7313,176
Long Term Debt7143342578341,8642,4443,2083,6603,5313,175
Short Term Debt1814633747846472931,1181002001
Trade Payables8986638571,0411,5131,3691,6111,9292,7842,429
Others Liabilities 2,4282,4682,6783,4453,6153,8544,9316,2546,8764,610
Total Liabilities 6,9497,1988,82311,43514,90015,60018,56021,41722,91020,115

Fixed Assets

Gross Block4,7984,9245,4897,2238,4729,57913,04114,66017,02517,832
Accumulated Depreciation1,5451,8172,1892,4282,7583,1793,7564,4255,1966,018
Net Fixed Assets3,2543,1073,3004,7955,7146,4009,28510,23411,82911,814
CWIP 351304166216726551,2721,030548134
Investments 6517521,5061,3992,9782,2332,4102,5002,8652,823
Inventories1,2841,1851,0201,7291,7212,0511,8082,0772,4642,277
Trade Receivables2413202933865507794457321,5421,588
Cash Equivalents 2212082911392612182371,400525511
Others Assets1,2641,4961,9972,3643,0043,2643,1033,4443,136967
Total Assets 6,9497,1988,82311,43514,90015,60018,56021,41722,91020,115

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1,1279621,7853309335931,8951,4941,6151,531
PBT 6149341,4151,0868678065811,052350812
Adjustment 5084261603033545596948349891,166
Changes in Working Capital 130-198483-802-90-580747-217364-275
Tax Paid -125-200-273-257-198-193-127-176-88-171
Cash Flow From Investing Activity -202-367-1,078-1,395-2,754-457-2,675-2,161-887-232
Capex -192-276-688-1,551-1,212-1,633-2,515-972-1,537-509
Net Investments 1-99-550107-1,565343-177-1,255607254
Others -118160482383317664323
Cash Flow From Financing Activity -857-607-6419061,934-178807667-638-1,115
Net Proceeds from Shares 032001,47600000
Net Proceeds from Borrowing -225-699-3196728945187151,016-60-156
Interest Paid -249-181-98-56-109-136-179-284-342-417
Dividend Paid -29-45-102-102-153-172-4310-222-206
Others -354285-123392-175-388702-65-14-336
Net Cash Flow 68-1266-159113-4227090184
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)17.5221.5325.316.089.897.956.648.432.755.96
ROCE (%)19.8925.7430.7618.7411.899.397.2211.085.319.19
Asset Turnover Ratio1.431.411.220.980.80.810.650.590.660.8
PAT to CFO Conversion(x)2.541.491.780.411.513.722.076.192.64
Working Capital Days
Receivable Days10101112162020182833
Inventory Days45454151605664605750
Payable Days39415064706480938681

Apollo Tyres Ltd Stock News

Apollo Tyres Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Apollo Tyres on 28-Mar-2024 16:01 is ₹468.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Apollo Tyres stood at ₹29,703.7.
The latest P/E ratio of Apollo Tyres as of 28-Mar-2024 16:01 is 24.78.
The latest P/B ratio of Apollo Tyres as of 28-Mar-2024 16:01 is 2.90.
The 52-week high of Apollo Tyres is ₹559.9 and the 52-week low is ₹305.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Apollo Tyres is ₹17,518 ( Cr.) .

About Apollo Tyres Ltd

Apollo Tyres came into inception in 1972 and has since been a trusted name in the business of manufacture and sale of tyres. With its corporate headquarters in Gurgaon, India, the company caters to over a many countries across the globe. The company markets its products under its two global brands: Apollo and Vredestein. These products are available in countries across the globe through a vast network of branded, exclusive and multi-product outlets. Each brand from the company is equipped with its own distinctive visual language and targeted to a specific customer need. This approach has enabled the company to provide a wide range of products for various applications, across geographies-ending with a delighted customer.

Business area of the company

The company is in the business of manufacture and sale of Tyres. While the company focuses on its 2 key brands--Apollo and Vredestein, it also owns two smaller and region specific brand-- Kaizen and Regal. Brands Apollo and Vredestein comprise of tyres for passenger, commercial and off highway vehicles. Brands Regal and Kaizen focus on the truck-bus tyre segment.

Products of the company

  • Passenger Car Tyres
  • Alloy Wheels
  • Sports Utility Tyres
  • Van Tyres
  • Passenger Winter Tyres
  • Heavy Commercial Tyres
  • Light Commercial Tyres
  • Small Commercial Tyres
  • Agriculture Radial Tyres
  • Agriculture Cross ply Tyres
  • Off-The-Road Tyres
  • Speciality Vehicles Tyres

Awards

  • 2007: FICCI–SEDF Social Responsibility Award 2007 for work in the area of HIV-AIDS Awareness and Prevention.
  • 2009: Recognition from International Labor Organisation for implementing the workplace HIV-AIDS Awareness and Prevention Programme for its employees in 2006.
  • 2011: Business Action on Health Award 2011 was given by GBC Health, under ‘Community Investment’ category, for the leadership in HIV/AIDS prevention and treatment services in India.
  • 2012: Asia Responsible Entrepreneurship Award 2012 was given by Enterprise Asia, under ‘Health Promotion Award, category for HIV-AIDS Awareness and Prevention Programme.
  • 2013: Global Sustainability Leadership Award 2013 was given by World CSR Congress under ‘Best Community Action’ category for HIV-AIDS Awareness and Prevention Programme. 
  • 2013: Asian CSR Leadership Award 2013 by World CSR Congress was given, under the ‘Health Care’ category for HIV-AIDS Awareness and Prevention Programme.
  • 2015: ASIAN CSR Awards 2015 was given by Asian Forum on Corporate Social Responsibility, under the ‘Health Enhancement’ category. 
  • 2016: Global Green Future Leadership Award 2016 was given by World CSR Congress, under the ‘Best Waste Management’ category for Clean My Transport Nagar (CMTN) initiative.
  • 2016: Bureaucracy Today (BT) - CSR Excellence Award 2016 was given by Bureaucracy Today media group, under the 'Best Waste Management’ category for Clean My Transport Nagar project.
  • 2016: ‘NIPM Kerala Best Corporate Citizen Award 2016' was given by the Kerala Chapter of National Institute of Personnel Management (NIPM), for the exemplary CSR work done by Kerala CSR team.
  • 2016: The company bagged multiple awards in the CSR Excellence Award - One for Best CSR Initiatives and three for Best Livelihood Initiatives. 
  • 2016: 'Sparsha Award 2016' was given by the National Institute of Industrial Engineering and LakshyaSM) for the valuable contribution done by the Vadodara (Gujarat) CSR team under ‘Livelihood Generation Initiatives’. 
  • 2017: Recognition plaque was given by FICCI Aditya Birla CSR for the exemplary work done by Apollo Tyres Foundation under women empowerment category. 
  • 2017: The Company received Asian Customer Engagement Forum (ACEF) CSR Award under Best Stakeholder Management category by Asian Customer Engagement Forum.
  • 2017: The Company bagged Indywood CSR Excellence Award under Best CSR Campaign - Biodiversity and Climate Change category, organised by Indywood Film Carnival.
  • 2018: Antyodaya Vadodara CSR Award 2018 was given by Institute of Leadership and Governance- Maharaja Sayaji Rao University of Baroda for successful implementation of livelihood generation programme for underprivileged women in Vadodara, Gujarat.
  • 2018: The organisation received CSR Times Award 2018 under the Healthcare category for exceptional healthcare programme for its truck driver community.
  • 2018: The organisation received CSR Excellence Award under Livelihood Creation category by Gujarat CSR Summit and Awards for its livelihood programme in Gujarat.
  • 2018: NIPM CSR Award 2018 was given by the Kerala Chapter of National Institute of Personnel Management (NIPM), for the exemplary CSR work done by Kerala CSR team. 
  • 2018: CSR Health Impact Award 2018 was given under Health CSR Project category. 
  • 2019: Apollo Tyres has been honored with Gujarat CSR Authority Award (GCSRA) 2019. The Company has received the award under 'Sustainable and Impactful CSR Project' category under women empowerment initiative through Programme Navya in Gujarat, India. 
  • 2019: Apollo Tyres has been honored with the ASSOCHAM Women Achievers Award (AWAA) 2019 under the 'Best Organisation Supporting Women 360 degree' category. 
  • 2019: Apollo Tyres has been honoured with ICSI (The Institute of Company Secretaries of India) CSR Excellence Award 2019 under the 'Best Corporate in Large' category. 

Major Events and Milestones

  • 1977: First plant in Perambra, Kerala.
  • 1991: Second plant in Limda, Gujarat.
  • 1995: Acquired plant in Kalamassery, Kerala.
  • 2009: Acquired Vredestein Banden BV, Netherlands.
  • 2005: Acquired Dunlop Tyres, South Africa.
  • 2010: Truck Radial Plant in Oragadam, Tamil Nadu.
  • 2011: Sales & Marketing Office, Dubai.
  • 2011: Ties-up with Kwik-Fit car service centres.
  • 2011: Launches India's only full-service outlet for commercial vehicles.
  • 2011: Apollo Tyres enters Sri Lanka market. 
  • 2012: Launch 57 inch off-highway tyre at IMME 2012.
  • 2013: Sales & Marketing Office, Thailand
  • 2013: Global R&D Centre Europe, Netherlands.
  • 2013: Apollo Tyres extends its product range in Europe.
  • 2013: Introduces 4G range of passenger car tyres for the Indian market.
  • 2013: Global Marketing Office in London, UK.
  • 2013: Partnered with Manchester United.
  • 2014: Global R&D Centre Asia, India.
  • 2014: Introduced Apterra H/P, an on-road High Performance summer tyre for SUVs.
  • 2015: Acquired Reifencom- German Tyre Distribution Company.
  • 2015: Laid foundation stone for the Hungary Greenfield Plant.
  • 2015: First Apollo Zone inaugurated in Lebanon.
  • 2015: Global Procurement Office, Singapore.
  • 2016: Forays into the two-wheeler tyre segment.
  • 2016: Signs MoU with Govt of Andhra Pradesh.
  • 2017: Introduced Apollo Apterra HT2 for the growing 4x4 and SUV segment, whereas the actiZip F2 & actiZip R3 tubeless tyres has been launched for the motorcycles. 
  • 2017: Launch of the Hungary plant.
  • 2017: TBR Launch in Europe.
  • 2018: Laid foundation stone for the Apollo Tyres seventh manufacturing facility globally in Andhra Pradesh.
  • 2018: Apollo Tyres' Hungarian facility begins commercial production of truck tyres.
  • 2019: Opens its first tyre service centre in Malaysia.
  • 2019: Introduces EnduMaxx brand of light truck tyres for the Indian market.
  • 2019: Collaborates with Ashok Leyland.
  • 2019: Entry into Saudi Arabia through a tie-up with Al-Jomaih Tyres Company.
  • 2020: Inaugurated the Andhra Pradesh Plant.
  • 2020: Apollo Vredestein launches full product offensive in NA.
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