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Apollo Tyres net up 145% YoY - Views on News from Equitymaster
 
 
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  • May 30, 2000

    Apollo Tyres net up 145% YoY

    Apollo Tyres has reported a net profit of Rs 761 m for FY2000, a growth of 145% over the FY99 net of Rs 311 m. Sales and other income grew by 18.9% YoY to Rs 13.7 bn in FY2000. The operating profit before depreciation and tax jumped 60% YoY.

    (Rs m) FY99 FY00 Change
    Sales & Other income 11,521 13,702 18.9%
    Operating Profit (EBDT) 753 1,207 60.2%
    Operating Profit Margin (%) 6.5% 8.8%  
    Profit after Tax/(Loss) 311 761 144.7%
    Net profit margin (%) 2.7% 5.6%  
    Earnings per share* 10.35 23.02  

    The main reason for this improved performance are the company's investment in technologies and upgradation of utilities which lead to higher quality products at competitive prices. The company's tighter working capital management has helped the company reduce its interest charges by 30%.

    The company plans to use technology to improve its supply chain management as well as the sales and distribution functions. This will help the company to increase its cost efficiency in future. The company expects to clock in a 20% sales growth in the current year.

    The entire impact of the recently expanded and modernised passenger car radial manufacturing facility at Vadodra will be realised during the current financial year.

    On the current price of Rs 99 Apollo Tyres is trading at a price to earnings multiple of 4.3x FY2000 earnings.

     

     

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