Apollo Tyres - Ambitious Growth Target; Pace Of Recovery, Execution Key: Nirmal Bang

The Apollo Tyres Ltd. logo is displayed on an Acelere Maxx tire at the company’s Apollo Super Zone retail outlet in Mumbai, India (Photographer: Adeel Halim/Bloomberg).

Apollo Tyres - Ambitious Growth Target; Pace Of Recovery, Execution Key: Nirmal Bang

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Nirmal Bang Report

We recently attended the Apollo Tyres Ltd.'s corporate day where the management presented an update on the current business and the strategy going forward.

We remain positive on the company on improved outlook for its European business coupled with its strong positioning in truck and bus, passenger car radial segments in the domestic market (both of which are likely to continue to perform well).

However, we believe that its revenue target of $5 billion (implied compound annual growth rate 16%) under ‘Vision FY2026’ is a bit ambitious and thus we will keenly monitor its execution before incorporating the same in our estimates.

Click on the attachment to read the full report:

Nirmal Bang Apollo Tyres-Management Meet Update-29 June 2021.pdf


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