Page 5 - Apollo Tyres

Apollo Tyres Q4 profit drops 61% to Rs 113 cr; revenue rises 11%

Apollo Tyres on Thursday said its consolidated net profit has declined by 61 per cent to Rs 113 crore for the fourth quarter ended March. The company had reported a consolidated net profit of Rs 287 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose by 11 per cent to Rs 5,578 crore, as against Rs 5,026 crore in the fourth quarter of FY21, Apollo Tyres said in a statement. For the year ended March 31, 2022, the tyre major said its net profit increased by 82 per cent to Rs 639 crore, as compared to Rs 350 crore in 2020-21. Revenue from operations rose by 20 per cent to Rs 20,948 crore, as against Rs 17,397 crores in FY21, the company said. "The unprecedented rise in input costs in FY22, have taken a toll on our margins, despite our internal cost control measures, and multiple rounds of price corrections undertaken in different product categories," Apollo Tyres Chairman Onkar Kanwar noted. The robust demand witnessed by the company's European operatio

Demand, margin worries: A rough terrain for tyre firms till mid-FY23

The extent of the raw material risk is more for tyres as compared to others given the dependence on the crude oil derivatives.

Fully cooperating with ongoing CCI investigation, says Apollo Tyres

CCI officials visited the offices of Apollo Tyres on Wednesday.

CCI conducts raids on offices of Apollo Tyres, Ceat, Continental

One of the sources said the case was related to an antitrust investigation into the use of unfair trade practices and rigging of bids while supplying tyres for public transport vehicles in Haryana

Tyre companies Ceat, Apollo, Continental raided in antitrust probe: Report

India's antitrust body on Wednesday raided the offices of tyre companies including India's Ceat, Apollo Tyres and Germany's Continental AG in an alleged case of competition law violations

Oil hits $95: Buy paint, tyre stocks on dips, avoid aviation, say analysts

Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe

Tata Power to set up EV charging stations at vehicle zones of Apollo Tyres

Tata Power has partnered with Apollo Tyres to deploy electric vehicle charging stations at the latter's commercial and passenger vehicle zones across India. Tata Power and Apollo Tyres have announced a strategic partnership in this regard, a statement said. Tata Power has a presence across all the segments of the EV charging ecosystem and has deployed all types of chargers DC 001, AC, Type2, Fast DC chargers up to 50kwh and up to 240kwh chargers for buses. "We are glad to partner with Apollo Tyres for the deployment of EV charging stations across their commercial & passenger vehicle zones. This partnership reflects our commitment to developing and expanding the electric vehicle ecosystem in the country," Praveer Sinha, CEO and MD of Tata Power, stated. Based on location, this classification of chargers will support EV charging for two-wheelers and four-wheelers, respectively. As per the agreement between Apollo Tyres and Tata Power, the latter will set up Charging Stations at 150

Tyre stocks trade weak after CCI imposes penalty; Ceat hits 52-week low

The CCI on Wednesday said Supreme Court dismissed a petition filed by tyre companies wherein they had challenged the regulator's order imposing penalties on them for anti-competitive practices

Enough research to show road infra's huge multiplier effect: Onkar S Kanwar

In a Q&A, the chairman of Apollo Tyres sees multiple growth triggers for the domestic industry ahead, but notes that relentless commodity inflation is the biggest pain point for companies

Apollo Tyres adopts Amazon Web Services to make factories smarter

Firm produces over 2,200 metric tonnes of tyres daily at its seven units worldwide. With AWS, it is connecting all of its factories in the cloud this year in India and Europe

Persistent increase in commodity prices to hurt margins: Apollo Tyres

Firm says it needs 20-25 per cent price hike to offset increase in input costs

Apollo Tyres second quarter consolidated net profit at Rs 174 cr

The homegrown tyre maker had reported a net loss of Rs 246 crore in the corresponding period last fiscal

Tyre stocks in focus; Balkrishna Ind at record high, Apollo Tyres jumps 5%

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021

Gail India, Indraprastha Gas have given a fresh breakout, says Ajit Mishra

The Religare Broking analyst also recommends buying Apollo Tyres

Apollo Tyres consolidated net profit net profit at Rs 128 cr in Q1

Revenue from operations for the quarter stood at Rs 4,584 crores, as against Rs 2,882 crore in the Q1 of 2020-21.

Trading calls by Osho Krishan of Anand Rathi: Buy Eicher Motors, Exide

Eicher Motors' stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame

Demand recovery key to Apollo Tyres' aggressive $5 billion revenue target

Street will watch out for capital allocation, deleveraging progress

Tyre industry seeks raw material partners to unleash growth

India's tyre sector is seeking effective collaboration with raw material partners to harness its potential, industry body Automotive Tyre Manufacturers Association (ATMA) said.

Apollo Tyres gets nod to re-start production at Kerala manufacturing plant

Apollo Tyres on Thursday said it has received permission from the authorities to re-start operations at its manufacturing plant at Perambra in Kerala from May 21. On May 17, the company had informed about the closure of plant till May 23, 2021, pursuant to directives issued by the District Government authority. "The local authority has now permitted the company to operate the plant with effect from May 21,2021," Apollo Tyres said in a regulatory filing. Accordingly, the operations of the plant shall be resumed from Friday (May 21) by adhering to the standard operating procedures/ guidelines for industrial units as prescribed by the authorities, it added.

Amid rise in raw material costs, margin pressures to weigh on tyre stocks

Tyre companies may not be able to fully pass on the surge in raw material costs