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auto | IST

Apollo Tyres Q4 results today: Double-digit topline growth likely

Apollo Tyres will report its fourth-quarter earnings on Thursday and analysts expect the company to report a 10 to 12 percent topline growth.

Apollo Tyres will report its fourth-quarter earnings on Thursday and analysts expect the company to report a 10 to 12 percent topline growth.
  • Apollo Tyres is expected to report a decent quarter with double-digit topline growth of 10-12 percent.
  • The company is expected to post a sequential improvement in margins at 11.6 to 12 percent versus 11.2 percent reported in the last quarter on the back of reduction in crude derivatives like synthetic rubber etc. The raw material cost per kilogram is expected to decline 3 percent quarter on quarter basis.
  • Although the tonnage growth is likely to be only 4 percent, the truck-bus radial segment did well with double-digit growth. Passenger vehicle segment saw a big slowdown leading to a flat volume growth for that segment.
  • The European revenues are also expected to grow in high single-digits. Ramp-up of their plant in Hungary will reflect in the Q4 numbers. However, distribution business in Europe showed a marginal decline, in the Reifencom venture, which could put a bit of pressure.