Apollo Tyres Firing On All Cylinders In Q3: Dolat Capital 
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 Firing On All Cylinders In Q3: Dolat Capital 

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.

Dolat Capital Report

Driven by strong growth in replacement markets across segments (up 17% YoY for TBR (truck and bus radial) and up 24% YoY for PCR (passenger car radial), rich product mix and efficient cost control and working capital management, Apollo Tyres Ltd. reported impressive numbers in Q3 FY21.

Ebitda grew 85% YoY to Rs 9.9 billion with expanded margin at 19.2% (up 707 basis points YoY).

The company has gained significant market share across segments (500bps for agriculture, 400bps for PCR and 300bps for T&B) due to its aggressive distribution strategy, new TBR products and ramp up in capacity at Chennai and Andhra Pradesh.

Click on the attachment to read the full report:

Dolat Capital Apollo Tyres Q3FY21 Result update.pdf

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