Apollo Tyres is a key supplier of tyres to auto companies. There are a couple of factors which are working in favour of the company. First is the promising OEM demand outlook. The demand scenario from OEMs is very encouraging, the situation in passenger vehicle car and two-wheeler segment is very robust.

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Farm equipment segment is also doing extremely well, concerns regarding the commercial vehicle (CV) segment are abating and most of the CV manufacturers are registering growth from their pre-COVID levels.

The strong demand was clearly visible in Apollo Tyres Q3 numbers as well, it witnessed a growth of around 17.1 percent on a year-on-year basis in its topline and its EBITDA margin also expanded significantly.

In the special segment ‘Moneycontrol Pro Ideas For Profit’, moneycontrol.com’s Nitin Agrawal gets more details on how the stock is expected to perform going forward.

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(Edited by : Abhishek Jha)

First Published:Mar 17, 2021 2:10 PM IST