Buy Apollo Tyres, target price Rs 550: Motilal Oswal

Motilal Oswal has buy call on Apollo Tyres with a target price of Rs 550. The current market price of Apollo Tyres Ltd. is Rs 499.9.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 30106.96 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 31-03-2024, the company has reported a Consolidated Total Income of Rs 6332.52 Crore, down -4.25 % from last quarter Total Income of Rs 6613.76 Crore and up 1.09 % from last year same quarter Total Income of Rs 6264.24 Crore. Company has reported net profit after tax of Rs 353.97 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.36 per cent stake in the company as of 31-Mar-2024, while FIIs owned 18.16 per cent, DIIs 21.89 per cent.