Apollo to Pay a Dividend on or Before 30 Days of AGM
Apollo Tyres Ltd has announced that it will pay a dividend of ₹6.00 per share within 30 days of the AGM to be held on July 25, 2024.
by Damodharan N
Updated Jul 05, 2024
Table of Content
Apollo Tyres Ltd has announced that it will pay a dividend of ₹6.00 per equity share for the financial year ending March 31, 2024. This decision will be approved at their 51st Annual General Meeting (AGM), scheduled for July 25, 2024, via video conferencing.
The dividend, recommended by the Board of Directors, will be disbursed within 30 days from the date of its declaration to shareholders holding equity shares as of the record date, July 5, 2024, totaling 635,100,946 shares.
The Annual General Meeting will also have key business agendas given below
- Adoption of audited financial statements and reports for FY 2023-24.
- Declaration of a final dividend of ₹6.00 per equity share for FY 2023-24.
- Re-appointment of Mr. Sunam Sarkar as Director who retires by rotation.
- Ratification of remuneration for Cost Auditors for FY 2024-25.
- Appointment of Mr. Sumit Dayal and Mr. Berjis Desai as Independent Directors for 5 years.
- Appointment of Mr. Gaurav Kumar as Whole-time Director for 5 years from June 1, 2024.
Apollo Tyres Annual Report
Apollo Tyres has delivered an impressive performance in FY 2023-24, marked by significant achievements across multiple fronts. The company posted robust consolidated financial metrics, with notable improvements in operating margin, RoCE, and free cash flow, reflecting its commitment to profitable growth and market leadership
Business Verticals and Key Highlights:
Apollo Tyres operates across multiple business verticals, including passenger vehicle tires, commercial vehicle tires, and off-highway tires. The company has achieved significant milestones in FY 2024, with strong revenue growth and expansion in both domestic and international markets.
- Passenger Car Radial (PCR) Tyres: Apollo Tyres reinforced its dominance in the PCR market, maintaining its leadership in the replacement market for the fourth consecutive year
- Truck and Bus Radial (TBR) Tyres: The TBR segment saw growth driven by new product introductions like the Endurace RA and Endutrax MD+, and collaborations with Tata Motors to enhance fuel efficiency
- Truck Bus Bias (TBB) Segment: Apollo Tyres revamped its mining range and launched the Terra BT
- All-Season Segment in Europe: Celebrating 30 years, the company launched the Quatrac Pro+ tailored for sports cars
- Off-Highway Tyres (OHT): The Vredestein VF Flotation Optimall received top ratings for its performance
Management Analysis and Future Outlook:
Apollo Tyres' management underscores the challenges posed by global economic uncertainties, including the ongoing conflicts in Ukraine and the Middle East. Despite these challenges, the company remains optimistic about maintaining a growth trajectory, supported by IMF's forecast of a 3.2% global economic growth rate for 2024 and 2025
Key Strengths and Weaknesses:
Apollo Tyres boasts robust global presence and advanced R&D capabilities as key strengths. However, it faces challenges like fluctuating raw material costs and intense competition.
- Strengths: Apollo Tyres boasts a diversified market base, strong presence in two-wheeler and commercial vehicle tyre segments, and a robust distribution network. The company's brands, Apollo and Vredestein, are well-established and continue to drive growth in key markets
- Weaknesses: The company faces risks from fluctuating raw material prices and geopolitical tensions that could impact supply chains and market conditions
Projects Completed or Launched:
Throughout the year, Apollo Tyres launched several new products, including the EnduMile LHT for long-haul trailers, and expanded its Vredestein Traxion Optimall VF range.
Apollo Tyres Financial Performance Summary for FY Ending March 31, 2024
|
Particulars |
Standalone (March 31, 2024) |
Standalone (March 31, 2023) |
Consolidated (March 31, 2024) |
Consolidated (March 31, 2023) |
|
Sale of products |
Rs 172,351.84 Million |
Rs 168,899.09 Million |
Rs 250,199.92 Million |
Rs 241,223.24 Million |
|
Sale of Services |
- |
- |
Rs 3.69 Million |
- |
|
Other operating income |
Rs 3,041.46 Million |
Rs 4,111.10 Million |
Rs 3,573.54 Million |
Rs 4,458.06 Million |
|
Revenue from operations |
Rs 175,393.30 Million |
Rs 173,010.19 Million |
Rs 253,777.15 Million |
Rs 245,681.30 Million |
|
Operating profit (EBITDA excluding other income) |
Rs 30,966.09 Million |
Rs 21,109.19 Million |
Rs 44,473.45 Million |
Rs 33,136.53 Million |
|
Other income |
Rs 1,357.97 Million |
Rs 751.26 Million |
Rs 1,535.73 Million |
Rs 410.92 Million |
|
Less: Finance costs |
Rs 4,034.92 Million |
Rs 4,672.28 Million |
Rs 5,059.41 Million |
Rs 5,312.35 Million |
|
Less: Depreciation & amortization expenses |
Rs 9,165.04 Million |
Rs 9,070.50 Million |
Rs 14,778.30 Million |
Rs 14,191.42 Million |
|
Profit before share of profit in associate / joint venture, exceptional items & tax |
Rs 19,124.10 Million |
Rs 8,117.67 Million |
Rs 26,171.47 Million |
Rs 14,043.68 Million |
|
Share of profit / (loss) in associate / joint venture |
- |
- |
Rs 3.61 Million |
Rs 2.42 Million |
|
Exceptional items |
Rs (757.93) Million |
- |
Rs (773.04) Million |
Rs 225.77 Million |
|
Profit before tax |
Rs 18,366.17 Million |
Rs 8,117.67 Million |
Rs 25,402.04 Million |
Rs 14,271.87 Million |
|
Less: Provision for tax |
Rs 6,825.92 Million |
Rs 2,918.21 Million |
Rs 8,183.38 Million |
Rs 3,813.43 Million |
|
Profit after tax |
Rs 11,540.25 Million |
Rs 5,199.46 Million |
Rs 17,218.66 Million |
Rs 10,458.44 Million |
In summary, Apollo Tyres' annual report for FY 2023-24 highlights a year of strategic advancements, strong financial performance, and a resilient outlook amidst global challenges. The company continues to innovate and expand its market presence, setting the stage for sustained growth and leadership in the tyre industry.
Read the full Report and Notice Here Here
Apollo Tyres
Apollo Tyres Ltd., established in 1972 and headquartered in Gurgaon, India, is a global leader in tyre manufacturing and sales. The company serves over 100 countries worldwide and operates seven manufacturing facilities across India, the Netherlands, and Hungary.
Apollo Tyres offers a comprehensive range of tyres, including those for passenger vehicles, commercial vehicles, two-wheelers, and industrial applications, under brands like Apollo and Vredestein.
With a strong emphasis on innovation and performance, Apollo Tyres continues to expand its global footprint while maintaining a robust financial performance, recording sales of ₹209.48 billion and a net profit of ₹6.39 billion in recent financial reports.
Apollo to pay a dividend on or before 30 days of AGM - FAQs
1. What was the sale of products for Apollo Tyres in standalone terms for FY 2024?
The sale of products for Apollo Tyres in standalone terms for FY 2024 is Rs 172,351.84 Million
2. What was the sale of products for Apollo Tyres in consolidated terms for FY 2024?
The sale of products for Apollo Tyres in consolidated terms for FY 2024 is Rs 250,199.92 Million
3. Did Apollo Tyres have any sale of services in standalone terms for FY 2024?
No, there were no sales of services in standalone terms.
4. Did Apollo Tyres have any sale of services in consolidated terms for FY 2024?
Yes, Apollo Tyres have sale of services in consolidated terms for FY 2024 is valued at Rs 3.69 Million
5. What was the other operating income for Apollo Tyres in standalone terms for FY 2024?
The other operating income for Apollo Tyres in standalone terms for FY 2024 is Rs 3,041.46 Million
6. What was the other operating income for Apollo Tyres in consolidated terms for FY 2024?
The other operating income for Apollo Tyres in consolidated terms for FY 2024 is Rs 3,573.54 Million
7. What was the total revenue from operations for Apollo Tyres in standalone terms for FY 2024?
The total revenue from operations for Apollo Tyres in standalone terms for FY 2024 is Rs 175,393.30 Million
8. What was the total revenue from operations for Apollo Tyres in consolidated terms for FY 2024?
The total revenue from operations for Apollo Tyres in consolidated terms for FY 2024 is Rs 253,777.15 Million
9. What was the operating profit (EBITDA excluding other income) for Apollo Tyres in standalone terms for FY 2024?
The operating profit (EBITDA excluding other income) for Apollo Tyres in standalone terms for FY 2024 is Rs 30,966.09 Million
10. What was the operating profit (EBITDA excluding other income) for Apollo Tyres in consolidated terms for FY 2024?
The operating profit (EBITDA excluding other income) for Apollo Tyres in consolidated terms for FY 2024 is Rs 44,473.45 Million
11. What was the other income for Apollo Tyres in standalone terms for FY 2024?
The other income for Apollo Tyres in standalone terms for FY 2024 is Rs 1,357.97 Million
12. What was the other income for Apollo Tyres in consolidated terms for FY 2024?
The other income for Apollo Tyres in consolidated terms for FY 2024 is Rs 1,535.73 Million
13. What were the finance costs for Apollo Tyres in standalone terms for FY 2024?
The finance costs for Apollo Tyres in standalone terms for FY 2024 is Rs 4,034.92 Million
14. What were the finance costs for Apollo Tyres in consolidated terms for FY 2024?
The finance costs for Apollo Tyres in consolidated terms for FY 2024 is Rs 5,059.41 Million
15. What were the depreciation & amortization expenses for Apollo Tyres in standalone terms for FY 2024?
The depreciation & amortization expenses for Apollo Tyres in standalone terms for FY 2024 is Rs 9,165.04 Million
16. What were the depreciation & amortization expenses for Apollo Tyres in consolidated terms for FY 2024?
The depreciation & amortization expenses for Apollo Tyres in consolidated terms for FY 2024 is Rs 14,778.30 Million
17. What was the profit before share of profit in associate/joint venture, exceptional items & tax for Apollo Tyres in standalone terms for FY 2024?
The profit before share of profit in associate/joint venture, exceptional items & tax for Apollo Tyres in standalone terms for FY 2024 is Rs 19,124.10 Million
18. What was the profit before share of profit in associate/joint venture, exceptional items & tax for Apollo Tyres in consolidated terms for FY 2024?
The profit before share of profit in associate/joint venture, exceptional items & tax for Apollo Tyres in consolidated terms for FY 2024 is Rs 26,171.47 Million
19. What was the share of profit/loss in associate/joint venture for Apollo Tyres in consolidated terms for FY 2024?
The share of profit/loss in associate/joint venture for Apollo Tyres in consolidated terms for FY 2024 is Rs 3.61 Million
20. Were there any exceptional items for Apollo Tyres in standalone terms for FY 2024?
Yes, exceptional items for Apollo Tyres in consolidated terms for FY 2024 valued at Rs (757.93) Million
21. Were there any exceptional items for Apollo Tyres in consolidated terms for FY 2024?
Yes, exceptional items for Apollo Tyres in consolidated terms for FY 2024 valued at Rs (773.04) Million
22. What was the profit before tax for Apollo Tyres in standalone terms for FY 2024?
The profit before tax for Apollo Tyres in standalone terms for FY 2024 is Rs 18,366.17 Million
23. What was the profit before tax for Apollo Tyres in consolidated terms for FY 2024?
The profit before tax for Apollo Tyres in consolidated terms for FY 2024 is Rs 25,402.04 Million
24. What was the provision for tax for Apollo Tyres in standalone terms for FY 2024?
The provision for tax for Apollo Tyres in standalone terms for FY 2024Rs 6,825.92 Million
25. What was the provision for tax for Apollo Tyres in consolidated terms for FY 2024?
The provision for tax for Apollo Tyres in consolidated terms for FY 2024 is Rs 8,183.38 Million
26. What was the profit after tax for Apollo Tyres in standalone terms for FY 2024?
The profit after tax for Apollo Tyres in standalone terms for FY 2024 is Rs 11,540.25 Million
27. What was the profit after tax for Apollo Tyres in consolidated terms for FY 2024?
The profit after tax for Apollo Tyres in consolidated terms for FY 2024 is Rs 17,218.66 Million
28. What was the sale of products for Apollo Tyres in standalone terms for FY 2023?
The sale of products for Apollo Tyres in standalone terms for FY 2023 is Rs 168,899.09 Million
29. What was the sale of products for Apollo Tyres in consolidated terms for FY 2023?
The sale of products for Apollo Tyres in consolidated terms for FY 2023 is Rs 241,223.24 Million
30. What was the other operating income for Apollo Tyres in standalone terms for FY 2023?
The other operating income for Apollo Tyres in standalone terms for FY 2023 is Rs 4,111.10 Million