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Apollo Tyres has a long ride ahead before it catches up
Mint Mumbai
|November 20, 2024
Apollo Tyres Ltd's ride in 2024 so far has been tough. Its stock is up a mere 7%, significantly behind the Nifty Auto Index's 26% returns. Its poor September quarter (Q2FY25) results indicate this wide gap is unlikely to be bridged soon.
Apollo Tyres struggled with weak margins and muted demand in Q2FY25, leading to a spate of earnings downgrades.
The consolidated Ebitda margin fell sharply by 480 basis points (bps) year-on-year to 13.6%, missing the consensus estimate of 14.8%. A steep increase in raw material prices in India played spoilsport, with the standalone Ebitda margin at 12.1%, lower than the consensus estimate of 13.2%. Ebitda is short for earnings before interest, taxes, depreciation, and amortization.
Denne historien er fra November 20, 2024-utgaven av Mint Mumbai.
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