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

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<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