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.
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