APOLLO TYRES Announces Quarterly Results (2QFY21); Net Profit Up 140.8%

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APOLLO TYRES Announces Quarterly Results (2QFY21); Net Profit Up 140.8%
Fri, 6 Nov

APOLLO TYRES has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

APOLLO TYRES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m39,85828,73442,82749.0%7.4%
Other incomeRs m4026838543.2%860.1%
TurnoverRs m39,89829,00343,21149.0%8.3%
ExpensesRs m35,53826,36235,87936.1%1.0%
Gross profitRs m4,3202,3736,888190.3%59.4%
DepreciationRs m2,7423,0913,3087.0%20.7%
InterestRs m6401,1721,167-0.4%82.4%
Profit before taxRs m979-1,6222,797185.9%
TaxRs m148-276798438.9%
Profit after taxRs m831-1,3462,000140.8%
Gross profit margin%10.88.316.1
Effective tax rate%15.117.028.5
Net profit margin%2.1-4.64.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 7.4% on a year-on-year (YoY) basis. The expenses were up by 1.0% YoY during the same period.
  • The company's operating profit increased by 59.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY21 as against 10.8% in 2QFY20.
  • Depreciation charges increased by 20.7% and finance costs increased by 82.4% YoY, respectively.
  • Other income increased by 860.1% YoY during the quarter.
  • Net profit for the quarter increased by 140.8% YoY. Net profit margins during the quarter increased from 2.1% in 2QFY20 to 4.6% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 49.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.1% QoQ during the same period.
  • The company's operating profit increased by 190.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY21 as against 8.3% in 1QFY20.
  • Net profit for the quarter increased by 248.6% QoQ, while net profit margins increased from -4.6% in 1QFY20 to 4.6% in 2QFY21.

To see how APOLLO TYRES has performed over the last eight quarters,please visit here.

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APOLLO TYRES Share Price Performance

Over the last one year, APOLLO TYRES share price has moved down from Rs 168.6 to Rs 155.5, registering a Loss of Rs 13.1 or around 7.7%.

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 155.5, the price to earnings (P/E) ratio of APOLLO TYRES stands at 25.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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Related Views on News

APOLLO TYRES Announces Quarterly Results (3QFY21); Net Profit Up 155.2% (Quarterly Result Update)

Feb 5, 2021 | Updated on Feb 5, 2021

For the quarter ended December 2020, APOLLO TYRES has posted a net profit of Rs 4 bn (up 155.2% YoY). Sales on the other hand came in at Rs 52 bn (up 17.1% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.

APOLLO TYRES Announces Quarterly Results (1QFY21); Net Profit Down 195.1% (Quarterly Result Update)

Aug 20, 2020 | Updated on Aug 20, 2020

For the quarter ended June 2020, APOLLO TYRES has posted a net profit of Rs 1 bn (down 195.1% YoY). Sales on the other hand came in at Rs 29 bn (down 33.7% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.

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