Apollo Tyres, established in 1972, is a prominent manufacturer of automatic bias, radial tires, and tubes. Boasting a network of nearly 5,000 dealerships in India, over 2,500 of which are exclusive outlets, Apollo Tyres has etched its mark in the industry.
This article delves into every facet of this company, exploring its history, innovations, market influence, and the driving factors that have propelled Apollo Tyres to the forefront of the tire manufacturing landscape.
About Apollo Tyres
Apollo Tyres Limited has carved a formidable presence in the tire manufacturing domain since its inception in 1972. With manufacturing units across India, the Netherlands, and Hungary, the company has marked its global footprint. Boasting a robust network of over 5,000 dealerships, 2,500 of which are exclusive outlets in India, Apollo commands a market cap of ₹29,653 Cr.
Currently priced at ₹528 as of 10th July 2024.
Apollo Tyres Q4 FY24 Results Highlight
- Net Profit Decline:
- Apollo Tyres reported a net profit of ₹354 crore for Q4FY24, down 13.7% from ₹410.3 crore in Q4FY23.
- Revenue Growth:
- Revenue from operations increased slightly by 0.2% to ₹6,258 crore in Q4FY24, up from ₹6,247.3 crore in the same quarter last year.
- EBITDA Improvement:
- EBITDA rose by 3% to ₹1,028 crore in Q4FY24, compared to ₹998.4 crore in the year-ago period.
- The EBITDA margin improved to 16.4% from 16% in Q4FY23.
- Dividend Announcement:
- The board recommended a dividend of ₹6 per equity share (600%) on the face value of ₹1 each for FY24.
- The dividend is subject to shareholder approval and will be paid within 30 days from the AGM.
- Share Performance:
- Apollo Tyres’ shares closed at ₹474.15 on the BSE, down by ₹4.25 or 0.89%, following the results announcement.
- Operational Metrics:
- The company maintained stable revenue and improved operational efficiency, despite a challenging economic environment.
Below are the trading platforms that you can use to purchase Apollo Tyres shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| July 2024 | 540.80 | 470.26 |
| August 2024 | 562.44 | 489.07 |
| September 2024 | 584.93 | 508.64 |
| October 2024 | 573.46 | 498.66 |
| November 2024 | 596.40 | 518.61 |
| December 2024 | 602.37 | 523.80 |
In 2024, Apollo Tyres’ stock prices are anticipated to show consistent growth. As we step into July, the maximum price is expected to be ₹540.80, with a minimum price of ₹470.26. By December, the maximum price is projected to reach ₹602.37, while the minimum price is anticipated to be ₹523.80.
| When | Maximum Price | Minimum Price |
| January 2025 | 608.39 | 467.99 |
| February 2025 | 614.54 | 472.72 |
| March 2025 | 627.44 | 482.65 |
| April 2025 | 621.23 | 477.87 |
| May 2025 | 603.13 | 463.95 |
| June 2025 | 630.28 | 484.83 |
| July 2025 | 617.92 | 475.32 |
| August 2025 | 637.03 | 490.02 |
| September 2025 | 644.67 | 495.90 |
| October 2025 | 661.43 | 508.80 |
| November 2025 | 677.97 | 521.52 |
| December 2025 | 708.48 | 544.98 |
In 2025, Apollo Tyres is projected to continue its positive momentum. Starting in January, the maximum price is expected to be ₹608.39, with a minimum of ₹467.99. As the year progresses, February should see prices ranging from ₹614.54 to ₹472.72, and March should see prices from ₹627.44 to ₹482.65. By mid-year, in July, the prices are projected to range from ₹617.92 to ₹475.32. Towards the end of the year, in December, Apollo Tyres’ maximum price is anticipated to reach ₹708.48, with a minimum of ₹544.98.
| When | Maximum Price | Minimum Price |
| January 2026 | 729.73 | 561.33 |
| February 2026 | 711.49 | 547.30 |
| March 2026 | 725.72 | 558.25 |
| April 2026 | 740.53 | 569.64 |
| May 2026 | 733.20 | 564.00 |
| June 2026 | 751.53 | 578.10 |
| July 2026 | 736.79 | 566.76 |
| August 2026 | 759.58 | 584.29 |
| September 2026 | 774.77 | 595.98 |
| October 2026 | 794.92 | 611.47 |
| November 2026 | 814.79 | 626.76 |
| December 2026 | 835.16 | 642.43 |
| When | Maximum Price | Minimum Price |
| January 2027 | 843.51 | 648.85 |
| February 2027 | 865.14 | 665.49 |
| March 2027 | 898.88 | 691.44 |
| April 2027 | 881.25 | 677.89 |
| May 2027 | 855.59 | 658.14 |
| June 2027 | 894.09 | 687.76 |
| July 2027 | 876.56 | 674.27 |
| August 2027 | 903.67 | 695.13 |
| September 2027 | 935.29 | 719.46 |
| October 2027 | 959.61 | 738.16 |
| November 2027 | 983.60 | 756.62 |
| December 2027 | 1,008.19 | 775.53 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,028.36 | 791.04 |
| February 2028 | 1,054.72 | 811.33 |
| March 2028 | 1,095.86 | 842.97 |
| April 2028 | 1,074.37 | 826.44 |
| May 2028 | 1,043.08 | 802.37 |
| June 2028 | 1,090.02 | 838.47 |
| July 2028 | 1,068.64 | 822.03 |
| August 2028 | 1,101.70 | 847.46 |
| September 2028 | 1,140.25 | 877.12 |
| October 2028 | 1,169.90 | 899.92 |
| November 2028 | 1,199.15 | 922.42 |
| December 2028 | 1,229.13 | 945.48 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,253.71 | 964.39 |
| February 2029 | 1,285.86 | 989.12 |
| March 2029 | 1,336.00 | 1,027.70 |
| April 2029 | 1,309.81 | 1,007.55 |
| May 2029 | 1,271.66 | 978.20 |
| June 2029 | 1,328.88 | 1,022.22 |
| July 2029 | 1,302.83 | 1,002.17 |
| August 2029 | 1,343.12 | 1,033.17 |
| September 2029 | 1,390.13 | 1,069.33 |
| October 2029 | 1,426.27 | 1,097.13 |
| November 2029 | 1,461.93 | 1,124.56 |
| December 2029 | 1,498.48 | 1,152.68 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,528.45 | 1,175.73 |
| February 2030 | 1,567.64 | 1,205.88 |
| March 2030 | 1,628.78 | 1,252.91 |
| April 2030 | 1,596.84 | 1,228.34 |
| May 2030 | 1,550.33 | 1,192.56 |
| June 2030 | 1,620.09 | 1,246.23 |
| July 2030 | 1,588.33 | 1,221.79 |
| August 2030 | 1,637.45 | 1,259.58 |
| September 2030 | 1,694.76 | 1,303.66 |
| October 2030 | 1,738.83 | 1,337.56 |
| November 2030 | 1,782.30 | 1,371.00 |
| December 2030 | 1,826.85 | 1,405.27 |
In 2030, Apollo Tyres is projected to show significant growth throughout the year. Starting in January, the maximum price is expected to be ₹1,528.45, with a minimum of ₹1,175.73. By February, prices should range from ₹1,567.64 to ₹1,205.88, and in March, they are anticipated to increase further to a maximum of ₹1,628.78 and a minimum of ₹1,252.91. Mid-year, in July, prices are projected to be between ₹1,588.33 and ₹1,221.79. As the year concludes in December, Apollo Tyres’ maximum price is expected to reach ₹1,826.85, with a minimum of ₹1,405.27.
Financial Strength of Apollo Tyres (2020 to 2024)
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 16,350 | 17,397 | 20,948 | 24,568 | 25,378 |
| Expenses + | 14,392 | 14,579 | 18,353 | 21,235 | 20,930 |
| Operating Profit | 1,958 | 2,818 | 2,595 | 3,333 | 4,447 |
| OPM % | 12% | 16% | 12% | 14% | 18% |
| Other Income + | 24 | -478 | 118 | 64 | 77 |
| Interest | 300 | 463 | 465 | 551 | 506 |
| Depreciation | 1,138 | 1,315 | 1,400 | 1,419 | 1,478 |
| Profit before tax | 543 | 561 | 848 | 1,427 | 2,540 |
| Tax % | 12% | 38% | 25% | 23% | 32% |
| Net Profit + | 476 | 350 | 639 | 1,105 | 1,722 |
| EPS in Rs | 8.33 | 5.51 | 10.06 | 17.39 | 27.11 |
| Dividend Payout % | 36% | 63% | 32% | 26% | 22% |
- Sales have shown a consistent upward trend from March 2020 to March 2024, increasing from ₹16,350 crore to ₹25,378 crore, indicating robust revenue growth over the years.
- Despite fluctuations in expenses, operating profit has steadily increased from ₹1,958 crore in March 2020 to ₹4,447 crore in March 2024, with an improving operating profit margin (OPM) reaching 18% in March 2024.
- Net profit has also exhibited significant growth, rising from ₹476 crore in March 2020 to ₹1,722 crore in March 2024, with a corresponding increase in earnings per share (EPS) from ₹8.33 to ₹27.11 during the same period.
- The dividend payout percentage has gradually decreased from 36% in March 2020 to 22% in March 2024, indicating a shift towards reinvestment for future growth and strengthening financial position.
Sharekhan, a leading financial advisory firm, recommends investors to consider purchasing shares of Apollo Tyres, suggesting a target price of Rs 619.00.
FAQs
What is Apollo Tyres’ current market capitalization?
Apollo Tyres’ current market capitalization stands at ₹33,521 Crores.
The current share price target for Apollo Tyres is ₹528.
The projected share price target for Apollo Tyres in 2025 ranges from ₹463.95 to ₹708.48.
The projected share price target for Apollo Tyres in 2030 varies from ₹1,175.73 to ₹1,826.85.
What is Apollo Tyres’ current P/E ratio?
The current P/E ratio for Apollo Tyres stands at 19.2.
Also Read:
- Aurobindo Pharma Share Price Target 2024, 2025 To 2030
- DLF SHARE PRICE TARGET 2024, 2025 TO 2030
- TITAN SHARE PRICE TARGET 2024, 2025 to 2030
Conclusion
Apollo Tyres stands as a formidable force in the tire manufacturing industry, with a rich history of innovation and a global footprint. Despite market fluctuations, the company has consistently demonstrated resilience and growth, as evidenced by its strong financial performance over the past five years. With a strong network of dealerships and strategic initiatives driving profitability, Apollo Tyres is well-positioned for continued success in the years to come. Investors can look forward to the promising trajectory of this industry leader, marked by steady revenue growth, increasing operating profit, and a commitment to delivering value to shareholders.
What did we learn?
- 1 About Apollo Tyres
- 2 Apollo Tyres Q4 FY24 Results Highlight
- 3 How to Purchase Apollo Tyres Shares?
- 4 Apollo Tyres Share Price Target: 2024, 2025 to 2030
- 5 Financial Strength of Apollo Tyres (2020 to 2024)
- 6 Sharekhan on Apollo Tyres share price Target
- 7 FAQs
- 7.1 What is Apollo Tyres’ current market capitalization?
- 7.2 What is the current share price target for Apollo Tyres?
- 7.3 What is the projected share price target for Apollo Tyres in 2025?
- 7.4 What is the projected share price target for Apollo Tyres in 2030?
- 7.5 What is Apollo Tyres’ current P/E ratio?
- 8 Conclusion
