Buy Apollo Tyres, target price Rs 620: Motilal Oswal

Motilal Oswal has buy call on Apollo Tyres with a target price of Rs 620. The current market price of Apollo Tyres Ltd. is Rs 511.9.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 32745.80 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 31-12-2023, the company reported a Consolidated Total Income of Rs 6613.76 Crore, up 4.90 % from last quarter Total Income of Rs 6304.89 Crore and up 2.87 % from last year same quarter Total Income of Rs 6429.48 Crore. Company reported net profit after tax of Rs 496.57 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.34 per cent stake in the company as of 31-Dec-2023, while FIIs owned 17.96 per cent, DIIs 21.92 per cent.