Buy Apollo Tyres, target price Rs 290: Emkay

Emkay Global Financial Services has a buy call on Apollo Tyres Ltd. with a target price of Rs 290. The current price of Apollo Tyres Ltd. is Rs 207.65.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid-Cap company (with a market cap of Rs 13292.66 Crore) operating in Tyres sector.

Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps, Other Operating Revenue, Others and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 5106.21 Crore, up 10.41 per cent from last quarter Total Income of Rs 4624.92 Crore and up 18.17 per cent from last year same quarter Total Income of Rs 4321.11 Crore. Company has reported net profit after tax of Rs 173.72 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 37.34 per cent stake in the company as of 30-Sep-2021, while FIIs owned 24.07 per cent, DIIs 14.44 per cent.