Buy Apollo Tyres, target price Rs 305: Emkay Global

Emkay Global has buy call on Apollo Tyres Ltd. with a target price of Rs 305. The current market price of Apollo Tyres Ltd. is Rs 223.7. Time period given by analyst is one year when Apollo Tyres price can reach defined target.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 14299.30 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 30-06-2021, the company reported a Consolidated Total Income of Rs 4624.92 Crore, down -9.09 % from last quarter Total Income of Rs 5087.57 Crore and up 59.46 % from last year same quarter Total Income of Rs 2900.28 Crore. Company reported net profit after tax of Rs 127.78 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 37.6 per cent stake in the company as of June 30, 2021, while FIIs held 22.9 per cent, DIIs 15.7 per cent and public and others 23.9 per cent.