Apollo Tyre Ltd. (NSE: APOLLOTYRE): Q3 FY23 Results Out; Total Income rises 12% yoy

Apollo Tyres Limited(NSE:APOLLOTYRE) is a leading tire manufacturer in India. The company was founded in 1972 and has its headquarters in Gurgaon, India. Apollo Tyres has a strong global presence, with manufacturing facilities in India, Europe, and Africa. The company offers a wide range of tires for various vehicles, including passenger cars, trucks, buses, light trucks, and farm equipment.

Apollo Tyres is committed to innovation and sustainable development. The company invests heavily in research and development to produce high-quality and environmentally friendly tires. It has received several awards and recognition for its sustainability efforts, including being listed among the top 100 sustainable companies in India.

The company has a diverse customer base, serving markets in India, Europe, and Africa. It has a strong distribution network, with a presence in more than 100 countries across the world. Apollo Tyres has a strong brand image and a reputation for delivering high-quality products and excellent customer service.

Apollo Tyres reported its Q3FY23 results, showing a YoY increase in revenue of 13% to Rs 64,228 million, EBITDA of 23% to Rs 9,134 million, and net profit of Rs 2,921 million. The EBITDA margins rose by 120 basis points to 14.2%, while the net profit margins increased by 63 basis points to 4.5%.

The diluted EPS was Rs 4.60. On a consolidated YTD basis, the company reported a 19% YoY increase in revenue to Rs 1,83,208 million, and EBITDA of 19% to Rs 23,152 million. The EBITDA margins declined by 4 basis points to 12.6%, while the net profit margins increased by 28 basis points to 3.7%. The diluted EPS was Rs 10.7.