Apollo Tyres’ grip remains strong in Q1 on easing commodity prices
In the India business, volumes were up a healthy 21 per cent over Q1FY22 and 7.5 per cent on a sequential basis The stock of Apollo Tyres was up 4 per cent on Wednesday -- to end the day at Rs 260.15 apiece -- on robust results for the June quarter of the 2022-23 financial year (Q1FY23). Expectations of sustained volume growth and margin tailwinds too supported the stock.
While most brokerages are positive on the growth front, they have a mixed view on valuations. Going ahead, its volume trajectory in the India business, given seasonality and the extent of margin recovery, will be key metrics the Street will watch out for.Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger.
Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content.
We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard.