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Apollo Tyres reports lower Q3, 9M profits

Apollo Tyres Ltd has announced its unaudited financial results for the third quarter (October to December) and nine first months of the 2024-25 financial year, reporting consolidated revenue of Rs 69.28 billion (£635.30 million), an increase of 5.1 per cent over the same period last fiscal. Both the tyre maker’s Indian and European operations delivered mid-single-digit revenue growth during the quarter. Operating profit declined 21.6 per cent compared with the prior year, to Rs 9.47 billion (£86.84 million), while net profit was, at Rs 3.37 billion (£30.90 million), 32.2 per cent lower.

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Related news:

  1. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
  2. Apollo Tyres FY 2021-22 financial results
  3. Apollo Tyres reports 24% lower profit in Q1 2024/5
  4. Apollo Tyres – steady revenue growth amid challenging conditions in H1 FY25
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Apollo Tyres – steady revenue growth amid challenging conditions in H1 FY25

Apollo Tyres Ltd has reported modest revenue growth for the first half of the financial year that ends 31 March 2025 (FY25), reflecting strong replacement segment performance in India and a robust passenger vehicle segment contribution in Europe. The company’s performance reflects a mixed landscape, with supply chain costs and inflationary pressures continuing to affect profitability, particularly in India, its largest market.

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Related news:

  1. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
  2. Apollo Tyres FY 2021-22 financial results
  3. Apollo Tyres lifts net profit 124%
  4. Apollo Tyres reports 24% lower profit in Q1 2024/5
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Apollo Tyres reports 24% lower profit in Q1 2024/5

The Board of Directors of Apollo Tyres Ltd has approved the company’s unaudited results for the first quarter of the financial year 2024-25, reporting a consolidated revenue of Rs 63.35 billion (£590.70 million). Operating profit amounted to Rs 9.09 billion (£84.68 million), down 13.5% from a year earlier, while net profit decreased 23.9% year-on-year, to Rs 3.02 billion.

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Related news:

  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  3. Apollo Tyres: Stable sales in Europe, but profits further in the red
  4. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
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Early retirement for Apollo Tyres’ Satish Sharma

Satish Sharma has decided to take early retirement and thus resigned as a whole-time director of Apollo Tyres Ltd. from the close of business hours yesterday. Sharma’s resignation as president of the company’s APMEA (Asia Pacific, Middle East, and Africa) region will take effect at the end of the month.

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Related news:

  1. Apollo Tyres’ management takes coronavirus pay cut
  2. Apollo Tyres appoints APMEA marketing head
  3. Reddy named Apollo Tyres’ APMEA head of supply chain
  4. Apollo Tyres maintains revenues, increases profits
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Kanwar Tulip celebrates Apollo Tyres’ Dutch connection

Along with cheese, clogs and windmills, many people closely associate tulips with the Netherlands. Apollo Tyres has thus commissioned an all-new variant of Tulipa to mark the 15th anniversary of its acquisition of Vredestein as well as the recent 115th anniversary of the Dutch brand’s founding. This new variant is named after the Kanwar family, which founded and owns Apollo Tyres.

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  1. Apollo Tyres buys Germany’s reifen.com
  2. Apollo’s acquisition of reifen.com a ‘sound strategic extension of the value chain’
  3. 750 jobs to go at Apollo Vredestein’s Netherlands plant
  4. Apollo Tyres’ management takes coronavirus pay cut
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Apollo Tyres lifts revenues despite “challenging” Europe

The Board of Directors at Apollo Tyres has approved the company’s unaudited financial results for July to September 2023 (Q2 2023-24). These show revenue of Rs 62.80 billion (£612.78 million) in revenue in the quarter ending 30 September, a 5.4 per cent year-on-year increase. Apollo Tyres shares that revenue growth was especially positive in its Indian Operations business.

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  4. Apollo Tyres lifts net profit 124%
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Apollo Tyres lifts net profit 124%

The Board of Directors at Apollo Tyres Ltd. reports a 124 per cent increase in net profit during the three months to 30 June 2023, the first quarter of the company’s 2023-24 fiscal year. Chairman Onkar Kanwar credits the efforts of Apollo’s European business towards this result.

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From near bankruptcy to $3 billion

Success isn’t always about greatness – it’s about consistency. Consistent hard work leads to success. Greatness will come. With these words, Onkar Kanwar opened his company’s 50th Annual General Meeting, singling out consistency as Apollo Tyres Ltd.’s mantra and a quality that in 2022 helped the tyre maker achieve annual revenues in excess of US$3 billion for the first time.

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  1. Apollo Tyres lifts profit margin to 18.7% in April-June quarter
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
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  4. Apollo Tyres FY 2021-22 financial results
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Apollo Tyres: Q1 2022-23 financial results

During the three months to 30 June 2022, Apollo Tyres Ltd. respectively recorded 38 per cent and 14 per cent year-on-year increases in its Indian and European operations. Total revenue from operations for this, the first quarter of the tyre maker’s 2022-23 financial year, amounted to Rs 59.42 billion (£614.72 million) and was 26.9 per cent higher than during the previous year’s first quarter.

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  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres: Stable sales in Europe, but profits further in the red
  3. Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance
  4. Apollo Tyres FY 2021-22 financial results
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Apollo Tyres FY 2021-22 financial results

Apollo Tyres reports revenue of Rs 209.48 billion (£2.22 billion) for the financial year ending 31 March 2021, 20 per cent higher than during the prior fiscal year. EBITDA declined 8.0 per cent year-on-year to Rs 25.74 billion (£272.59 million), with the EBITDA margin contracting 379 Bps to 12.3 per cent. Net profit stands at Rs 6.39 billion (£67.67 million).

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Related news:

  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  3. Apollo Tyres: Stable sales in Europe, but profits further in the red
  4. Apollo Tyres continues European turnaround
/1 Comment/by

Apollo Tyres: Cost of raw materials, chip shortage impacts on operating performance

For the three months to 30 September 2021, the second quarter of its 2021-22 financial year, Apollo Tyres reports consolidated revenue of Rs 50.77 billion (£493.84 million). This represents an 18 per cent increase over the same period of the previous fiscal year. EBITDA decreased 9.8 per cent year-on-year, to Rs 6.38 billion (£62.06 million) with a margin of 12.6 per cent (16.5 per cent in Q2 2020-21). Net profit amounted to Rs 1.74 billion (£16.93 million).

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  1. Apollo Tyres maintains turnover, increases profits
  2. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  3. Apollo Tyres: Stable sales in Europe, but profits further in the red
  4. Apollo Tyres: Net profits up 155% in Q3 2020-21
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Apollo Tyres reports revenue, profitability growth for FY 2020/21

Apollo

Apollo Tyres has recorded strong growth in the fourth quarter of its 2020/21 financial year (April 2020 to March 2021). Consolidated revenues from global operations grew 39 per cent to close at 50.26 billion rupees (£486 million – all conversions based on rates on 14 May) in quarter four. For the full year of FY21, it grew 6 per cent to close at 173.97 billion rupees (£1.68 billion). Apollo reports that operating profit (EBITDA excluding other income) was up 70 per cent in Q4, while for the full year, it was up 44 per cent.

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  1. Apollo Tyres: Raw material prices drags profit down 72%
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  3. Subsidies no remedy for low rubber prices – Onkar Kanwar
  4. Apollo Tyres to further raise TBR tyre capacity in Chennai
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Apollo Tyres: Net profits up 155% in Q3 2020-21

Apollo Tyres reports improved sales and significantly higher net profit in the three months to 31 December 2020, the third quarter of its 2020-21 financial year. The bottom-line result for the year to date is admittedly less impressive, as net profits have been watered down by costs associated with the restructuring of the Apollo Vredestein facility in Enschede, the Netherlands.

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  1. Apollo Tyres: Stable sales in Europe, but profits further in the red
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  3. Apollo Tyres maintains turnover, increases profits
  4. Warburg Pincus investing £117 million in Apollo Tyres
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Apollo Tyres: Stable sales in Europe, but profits further in the red

Apollo Tyres had to accept a drop in its turnover and earnings in the half-year to 30 September 2020, with the notable exception of sales in Europe. The company’s global sales in the first half of its current April 2020 to March 2021 financial year were Rs 70.62 billion (£728.85 million), 13.9 per cent less than the sales it gained a year earlier. Net profit dropped 71.1 per cent year-on-year to Rs 650 million (£6.71 million).

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  1. Apollo Tyres looking for ‘healthy topline growth’ after 22% sales increase in FY 2017-18
  2. Apollo Tyres maintains turnover, increases profits
  3. Apollo Tyres: Netherlands car tyre production down, but not out
  4. Apollo Vredestein plant restructuring: Dutch politicians seek answers from European Commission
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Apollo Tyres’ management takes coronavirus pay cut

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Apollo

Top management at Apollo Tyres have announced they’ve accepted a pay cut during the market difficulties brought about by the COVID-19 pandemic. The tyre maker says it is also preparing to implement further measures.

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Related news:

  1. Apollo Tyres lays foundation stone for 7th factory
  2. Apollo’s Onkar Kanwar receives Hungary’s ‘Order of Merit’
  3. Apollo Tyres’ Onkar Kanwar receives Japanese Imperial honour
  4. Warburg Pincus investing £117 million in Apollo Tyres
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