Apollo Tyres Q2 PAT seen up 123% at Rs 147 crore

MUMBAI: Apollo Tyres’ net profit for the quarter ended September is likely to surge 123 per cent to Rs 147 crore from Rs 78 crore in the corresponding quarter a year ago, according to an ET Now poll.

Sales for the quarter are seen at Rs 3,094 crore, up 8 per cent, against Rs 2,871 crore in the same period last fiscal.

Apollo Tyres’ Ebitda is seen at Rs 382 crore, up 66 per cent, against Rs 230 crore, year-on-year (YoY). Margins are seen at 12.1 per cent vs 8 per cent.

Factors to Watch:

Profitability led by moderation in rubber prices

Improved product mix, more high margin sales

Capacity ramp-ups seen in Q2

Higher demand seen from replacement market

Analysts await commentary on fund raising