External broker reports(aggregated public sources), ICICI Securities Ltd

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External broker reports(aggregated public sources)

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<p>About the stock: Apollo Tyres (ATL) is a leading tyre manufacturer, with operations in India &amp; Europe with an installed capacity of ~7.9 lakh MT p.a. In India, ATL has a substantial presence in TBR (31% market share) &amp; PCR space (21% market share).</p><ul><li>Derives ~67% revenues from APMEA (largely India), ~32% from Europe</li><li>FY21 segment mix: Truck/bus ~43%, PV ~35%, OHT ~11%, others ~11%</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: Apollo Tyres (ATL) is a leading tyre manufacturer, with operations in India &amp; Europe with an installed capacity of ~7.9 lakh MT p.a. In India, ATL has a substantial presence in TBR (31% market share) &amp; PCR space (21% market share).Derives ~67% revenues from APMEA (largely India), ~32% from EuropeFY21 segment mix: Truck/bus ~43%, PV ~35%, OHT ~11%, others ~11%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Apollo Tyres: Long Term Investment Thesis Intact

<p>On the margin front, ATL said that Europe margins achieved in H2FY21 (~15%) are sustainable, with Dutch plant specialisation holding the key to future performance. The company seeks to reduce raw material consumption by ~5-7% on like-to-like basis over the next five years, with production ramp up set to deliver operating leverage benefits across geographies, going forward. ATL is exploring organisation-wide capacity de-bottlenecking opportunities as a means to improve efficiencies.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

On the margin front, ATL said that Europe margins achieved in H2FY21 (~15%) are sustainable, with Dutch plant specialisation holding the key to future performance. The company seeks to reduce raw material consumption by ~5-7% on like-to-like basis over the next five years, with production ramp up set to deliver operating leverage benefits across geographies, going forward. ATL is exploring organisation-wide capacity de-bottlenecking opportunities as a means to improve efficiencies.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Apollo Tyres Limited manufactures tires and tubes for cars, trucks, farm equipment and light commercial vehicles. The Company also manufactures automobile flaps and retreading materials.

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Apollo Tyres (APTY IN)

Apollo Tyres: Long Term Investment Thesis Intact

Apollo Tyres (ATL) is a leading tyre manufacturer, with operations in India & Europe with an installed capacity of ~7.9 lakh MT p.a.

ICICI Securities Limited

Apollo Tyres: Outlines Vision 2026

On the margin front, ATL said that Europe margins achieved in H2FY21 (~15%) are sustainable, with Dutch plant specialisation holding the key to...

ICICI Securities Limited

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