nse: apollotyre –
Nse: Apollotyre Q3FY23 revenue up 13% yoy to Rs 64.2 billion, nse: apollotyre – Emkay Global Financial is positive on Apollo Tires and, in its research report dated February 6, 2023, targeting a Buy rating on the company. Banning is recommended. Price 375 rupees
According to a research study by MK Global Financial, Europe beat our estimates by 6 per cent thanks to higher earnings. EBITDA grew by 23% to Rs 9.1 billion, 13% higher than our forecasts, mainly due to higher-than-expected margins in Europe. We expect EBITDA margin to expand from 12.3% in FY22 to 13.2% in FY23E and 15.4% in FY25E.
Driven by more extensive scale and more robust net pricing.
Due to the deflation of commodities, management anticipates a 5% QoQ decrease in RM-cost in Q4. To adjust for the increased margin assumptions, we raise EPS by 4-7% for FY23–24E while mostly maintaining EPS for FY25–24E. With the revision, we anticipate strong revenue growth in FY23E of 15%; this upward trend is projected to continue, with revenue CAGR in FY23–25E of 8%, driven by strong growth in the OEM business, progressive improvement in replacement demand, and market-share gains in Europe.
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Sharekhan, which is optimistic on nse: apollotyre, suggested buying the company with a target price of Rs 372. The Q3FY2023 performance of nse: apollotyre ATL is above expectations, driven by a correction in the RM basket, according to Sharekhan’s research report. The company is now trading at a favourable P/E multiple of 11.8 and an EV/EBITDA multiple of 5.7 times expectations for FY2025E. According to management.
The benefits of benign RM costs will persist in Q4FY2023. To maintain its operating performance, ATL continues to concentrate on profitable volume growth by providing high-quality, premium goods. And also, we keep Apollo Tyres Ltd (ATL) at a Buy rating with an unchanged PT of Rs. 372, driven by the firm’s dominating position in its major markets and emphasis on premiumization.
In its research report dated February 6, 2023, Motilal Oswal is positive on Apollo Tyres and has suggested a buy rating on the company with a target price of Rs 395.
Notwithstanding disappointing volume growth in India and Europe, Motilal Oswal’s assessment of Apollo Tyres APTY’s 3QFY23 performance found that it was operationally in line. Whilst short-term demand is predicting to be poor, margin recovery is anticipate to continue. APTY continues to be focus on profitability, capex, and capital efficiency.
However, we increased our projections for FY23 and FY24 by 5% and 3%, respectively.
Automotive tyres, tubes, and flaps are produce and sold by Apollo Tyres Ltd. Raunaq Singh created the business with its headquarters in Gurugram, India. It employs the following geographical divisions: Europe and Others; Asia, Pacific, Middle East, and Africa (APMEA).
The APMEA section consists of businesses in the UAE, Thailand, Malaysia, and South Africa as well as manufacturing and sales operations through corporations in India. The manufacturing and sales activities conducted by European businesses make up the Europe section. The American sales operation and all other business entities are include within the Others category.
The firm nse: apollotyre Ltd, which has its headquarters in India, manufactures and sells tyres for automobiles. And also, the section for automobile tyres, tubes, and flaps is where the company conducts business. APMEA, Europe, and Other regions make up its geographical parts.
The APMEA section comprises companies in the United Arab Emirates, Thailand, Malaysia, and South Africa. As well as manufacturing and sales activities through India. Manufacturing and sales activities are include in the Europe division through European businesses. Sales operations in the Americas and other business entities are include in the Others category.
Under its two international names, such as Apollo and Vredestein, the company sells its goods. The Apollo brand is accessible in several markets, including those for commercial, passenger, two-wheel, agricultural, and industrial vehicles. And also, products under the Vredestein name include tyres for automobiles, tyres for industrial and agricultural use, and tyres for bicycles.
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