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

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.