ECONOMY

Apollo Tyres Q4 Review – Positive Demand Outlook, Supportive Valuations: ICICI Direct

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Apollo Tyres Ltd. reported better-than-expected Q4 FY21 results.

Total consolidated operating income was at Rs 5,026 crore, up 39.2% YoY.

Within key geographies, revenue from Asia Pacific Middle East Africa region came in at Rs 3,688 crore (up 49% YoY) while revenue from Europe region was at Rs 1,404 crore (up 20.1% YoY).

Ebitda margin at 16.2% was down 300 basis points QoQ amid gross margin decline of 240 bps.

Asia Pacific Middle East Africa region Ebit margins dropped 386 bps QoQ to 11.9% while Europe margins declined 199 bps QoQ to 4.6%.

Consequent consolidated profit after tax came in at Rs 287 crore (versus Rs 78 crore in base quarter).

Click on the attachment to read the full report:

ICICI Direct Apollo Tyres Q4FY21 Result Update.pdf

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