APOLLOTYRE Financial Statements

Apollo Tyres Profit & Loss Statement

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Y/e 31 Mar Mar-2022 Mar-2021 Mar-2020 Mar-2018
Growth matrix (%)        
Revenue growth 20.40 6.55 10 12.60
Op profit growth (8) 46 16 (11)
EBIT growth (19) 95.60 (30) (24)
Net profit growth 82.30 (26) (34) (34)
Profitability ratios (%)        
OPM 12.30 16.10 11.70 11.10
EBIT margin 6.20 9.27 5.05 7.92
Net profit margin 3.05 2.01 2.92 4.88
RoCE 6.32 8.36 4.91 8.70
RoNW 1.38 0.82 1.21 2.12
RoA 0.78 0.45 0.71 1.34
Per share ratios ()        
EPS 10.10 5.51 8.33 12.70
Dividend per share 3.50 3.50 3 3
Cash EPS (12) (15) (12) 2.30
Book value per share 185 180 174 171
Valuation ratios        
P/E 19 40.60 9.53 21.80
P/CEPS (16) (15) (6.90) 120
P/B 1.03 1.24 0.46 1.61
EV/EBIDTA 6.69 6.63 5.38 11.20
Payout (%)        
Dividend payout -- -- 51.50 28
Tax payout (24) (18) (12) (28)
Liquidity ratios        
Debtor days 26.10 24.30 26.50 31.50
Inventory days 65.10 68.50 68.80 68.80
Creditor days (71) (75) (67) (63)
Leverage ratios        
Interest coverage (2.90) (3.60) (2.90) (7.20)
Net debt / equity 0.50 0.45 0.61 0.42
Net debt / op. profit 2.29 1.85 3.14 2.46
Cost breakup ()        
Material costs (59) (54) (56) (57)
Employee costs (12) (14) (15) (15)
Other costs (16) (15) (17) (18)
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Y/e 31 Mar( In .Cr) Mar-2022 Mar-2021 Mar-2020 Mar-2018
Revenue 20,948 17,397 16,327 14,841
yoy growth (%) 20.40 6.55 10 12.60
Raw materials (12,386) (9,395) (9,076) (8,396)
As % of sales 59.10 54 55.60 56.60
Employee costs (2,574) (2,513) (2,482) (2,157)
As % of sales 12.30 14.40 15.20 14.50
Other costs (3,414) (2,692) (2,854) (2,637)
As % of sales 16.30 15.50 17.50 17.80
Operating profit 2,574 2,797 1,916 1,651
OPM 12.30 16.10 11.70 11.10
Depreciation (1,400) (1,315) (1,138) (593)
Interest expense (444) (443) (281) (163)
Other income 123 129 46.90 117
Profit before tax 853 1,169 543 1,012
Taxes (209) (211) (67) (288)
Tax rate (24) (18) (12) (28)
Minorities and other -- -- -- --
Adj. profit 644 958 476 724
Exceptional items (5.90) (608) -- --
Net profit 639 350 476 724
yoy growth (%) 82.30 (26) (34) (34)
NPM 3.05 2.01 2.92 4.88
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Y/e 31 Mar ( In .Cr) Mar-2022 Mar-2021 Mar-2020 Mar-2018
Profit before tax 853 1,169 543 1,012
Depreciation (1,400) (1,315) (1,138) (593)
Tax paid (209) (211) (67) (288)
Working capital 695 1,142 (429) (435)
Other operating items -- -- -- --
Operating cashflow (60) 785 (1,090) (304)
Capital expenditure 21,980 18,615 15,676 7,820
Free cash flow 21,920 19,400 14,585 7,516
Equity raised 13,425 13,825 12,925 13,698
Investments 479 93.80 (35) 1,279
Debt financing/disposal 6,202 5,522 5,703 4,082
Dividends paid -- -- 172 172
Other items -- -- -- --
Net in cash 42,026 38,840 33,350 26,747
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Y/e 31 Mar ( In .Cr) Mar-2022 Mar-2021 Mar-2020 Mar-2019
Equity capital 63.50 63.50 57.20 57.20
Preference capital -- -- -- --
Reserves 11,689 11,380 9,873 9,983
Net worth 11,752 11,443 9,930 10,040
Minority interest
Debt 6,985 7,334 6,764 5,111
Deferred tax liabilities (net) 1,912 1,678 1,398 1,121
Total liabilities 20,649 20,455 18,092 16,271
Fixed assets 18,210 17,526 17,090 13,293
Intangible assets
Investments 491 110 19.40 6.02
Deferred tax asset (net) 1,116 976 695 350
Net working capital (247) (303) (462) 2,059
Inventories 4,155 3,319 3,207 3,484
Inventory Days 72.40 69.60 71.70 --
Sundry debtors 1,610 1,381 940 1,314
Debtor days 28.10 29 21 --
Other current assets 1,054 1,336 1,199 1,490
Sundry creditors (3,894) (3,232) (2,776) (2,497)
Creditor days 67.90 67.80 62.10 --
Other current liabilities (3,172) (3,106) (3,032) (1,733)
Cash 1,081 2,146 750 563
Total assets 20,650 20,455 18,092 16,271
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Particulars ( Rupees In Crores.) Mar-2022 Dec-2021 Sep-2021 Jun-2021 Mar-2021
Gross Sales 5,578 5,707 5,077 4,584 5,026
Excise Duty -- -- -- -- --
Net Sales 5,578 5,707 5,077 4,584 5,026
Other Operating Income -- -- -- -- --
Other Income 37.20 17 29 40.50 61.90
Total Income 5,615 5,724 5,106 4,625 5,088
Total Expenditure ** 4,952 4,965 4,444 4,019 4,212
PBIDT 663 759 663 606 875
Interest 128 108 104 105 104
PBDT 536 651 559 502 771
Depreciation 375 344 340 340 348
Minority Interest Before NP -- -- -- -- --
Tax (14) 34.90 36.60 37 61.70
Deferred Tax 60.40 48.50 8.86 (3.50) 74.40
Reported Profit After Tax 113 224 174 128 287
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 113 224 174 128 287
Extra-ordinary Items -- (0.40) (3.50) (0.70) (0.90)
Adjusted Profit After Extra-ordinary item 113 224 177 129 288
EPS (Unit Curr.) 1.79 3.52 2.74 2.01 4.52
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 63.50 63.50 63.50 63.50 63.50
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 11.90 13.30 13 13.20 17.40
PBDTM(%) 9.60 11.40 11 10.90 15.30
PATM(%) 2.03 3.92 3.42 2.79 5.72
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