Apollo Tyres' grip remains strong in Q1 on easing commodity prices

Near term volume outlook is muted, though, given seasonality and macro EU concerns

Ram Prasad Sahu | Mumbai
Last Updated at August 18, 2022 00:50 IST

In the India business, volumes were up a healthy 21 per cent over Q1FY22 and 7.5 per cent on a sequential basis

The stock of Apollo Tyres was up 4 per cent on Wednesday –- to end the day at Rs 260.15 apiece -- on robust results for the June quarter of the 2022-23 financial year (Q1FY23). Expectations of sustained volume growth and margin tailwinds too supported the stock. While most brokerages are positive on the growth front, they have a mixed view on valuations. Going ahead, its volume trajectory in the India business, given seasonality and the extent of margin recovery, will be key metrics the Street will watch out for.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.