APOLLO TYRES Announces Quarterly Results (4QFY21); Net Profit Up 268.9%

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APOLLO TYRES Announces Quarterly Results (4QFY21); Net Profit Up 268.9%
Thu, 8 Jul

APOLLO TYRES has announced its results for the quarter ended March 2021. Here is a detailed performance review of the same:

APOLLO TYRES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-20*
3
Dec-20*
3
Mar-21*
QoQ ChangeYoY Change
Net SalesRs m36,10151,53850,257-2.5%39.2%
Other incomeRs m-24636619-2.7%
TurnoverRs m36,07752,17450,876-2.5%41.0%
ExpensesRs m31,35141,64442,1101.1%34.3%
Gross profitRs m4,7509,8398,134-17.3%71.2%
DepreciationRs m3,1373,2733,4776.2%10.8%
InterestRs m9121,0491,042-0.7%14.2%
Profit before taxRs m6776,1534,234-31.2%525.0%
TaxRs m-1011,7151,361-20.6%
Profit after taxRs m7794,4382,873-35.3%268.9%
Gross profit margin%13.219.116.2
Effective tax rate%-14.927.932.2
Net profit margin%2.28.55.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 39.2% on a year-on-year (YoY) basis. The expenses were up by 34.3% YoY during the same period.
  • The company's operating profit increased by 71.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.2% in 4QFY21 as against 13.2% in 4QFY20.
  • Depreciation charges increased by 10.8% and finance costs increased by 14.2% YoY, respectively.
  • Other income declined by 2682.6% YoY during the quarter.
  • Net profit for the quarter increased by 268.9% YoY. Net profit margins during the quarter increased from 2.2% in 4QFY20 to 5.6% in 4QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.1% QoQ during the same period.
  • The company's operating profit declined by 17.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.2% in 4QFY21 as against 19.1% in 3QFY20.
  • Net profit for the quarter declined by 35.3% QoQ, while net profit margins declined from 8.5% in 3QFY20 to 5.6% in 4QFY21.

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 up from Rs 116.0 to Rs 226.2, registering a Gain of Rs 110.2 or around 95.0%.

Overall, the S&P BSE SENSEX is up 43.9% over the year.

Current Valuations

At the current price of Rs 226.2, the price to earnings (P/E) ratio of APOLLO TYRES stands at 18.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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