Buy Apollo Tyres, target price Rs 285: ICICI Direct

ICICI Direct has buy call on Apollo Tyres with a target price of Rs 285. The current market price of Apollo Tyres Ltd. is Rs 251.35. Time period given by analyst is 3 months when Apollo Tyres Ltd. price can reach defined target.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 15963.26 Crore) operating in Tyres sector.

Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5952.61 Crore, up 6.00 % from last quarter Total Income of Rs 5615.49 Crore and up 28.71 % from last year same quarter Total Income of Rs 4624.92 Crore. Company reported net profit after tax of Rs 190.65 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 37.34 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.72 per cent, DIIs 13.46 per cent.