Buy Apollo Tyres, target price Rs 475: JM Financial

JM Financial has buy call on Apollo Tyres with a target price of Rs 475. The current market price of Apollo Tyres Ltd. is Rs 455.6.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 28954.25 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-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 6304.89 Crore, up .39 % from last quarter Total Income of Rs 6280.12 Crore and up 5.74 % from last year same quarter Total Income of Rs 5962.90 Crore. Company reported net profit after tax of Rs 474.10 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.34 per cent stake in the company as of 30-Sep-2023, while FIIs owned 22.1 per cent, DIIs 17.64 per cent.