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Apollo Tyres: Input prices spoil party

Nov 10, 2003

Apollo Tyres, India's leading tyre company, recently announced its 2QFY04 results. While the topline of the company registered a growth of 28%, the bottomline declined by nearly 37% as compared to the corresponding period of the previous year. Operating margins have suffered a hit of nearly 680 basis points.

(Rs m) 2QFY03 2QFY04 Change 1HFY03 1HFY04 Change
Net Sales 3,764 4,799 27.5% 7,619 9,289 21.9%
Other Income 4 12 232.4% 7 18 145.8%
Expenditure 3,200 4,404 37.6% 6,564 8,494 29.4%
Operating Profit (EBDIT) 564 395 -29.9% 1,055 794 -24.7%
Operating Profit Margin (%) 15.0% 8.2%   13.8% 8.6%  
Interest 73 48 -33.9% 163 84 -48.6%
Depreciation 84 103 22.0% 171 203 18.4%
Profit before Tax 411 257 -37.5% 728 526 -27.8%
Extraordinary items            
Tax 137 84 -38.7% 238 166 -30.2%
Profit after Tax/(Loss) 274 173 -36.9% 490 360 -26.6%
Net profit margin (%) 7.3% 3.6%   6.4% 3.9%  
No. of Shares 32.6 32.6   32.6 32.6  
Diluted Earnings per share* 33.6 21.2   30.1 22.1  
P/E Ratio   11.0     10.6  
(* annualised)            

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Sep 18, 2020 01:59 PM

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