The shares of one of the leading tyre manufacturers which has a high piotroski score of 9 jumped 6 percent in the day’s trade, after it declared robust quarter ended September results with a jump in Net profit by 164 percent YoY to Rs. 474.25 Crores.
At 11:43 a.m the shares of Apollo Tyres Limited were trading at Rs. 408.35 up 6.31 percent from its previous day close price of Rs. 384.10 and its market capitalization is Rs. 25,950 Crores.
The Piotroski score is a discrete score that ranges between zero and nine reflecting nine different criterias used to determine a firm’s strength. It is used to determine stocks with best value, with nine being the best and zero being the worst. Apollo Tyres Limited has a high Piotroski score of ‘9’ determining it to be a stock with best value.
Apollo Tyres Limited have declared their quarter ended september (Q2FY24) results and it is as follows
Its Net profit grew 164 percent YoY from 179.39 Crores in Q2FY23 to 474.25 Crores in Q2FY24 and it grew 19.48 percent QoQ from Rs. 396.9 Crores in Q1FY24 to Rs. 474.25 Crores in Q2FY24.
Its revenue from operations grew 5.43 percent YoY from Rs. 5956 Crores in Q2FY23 to Rs. 6279.56 Crores in Q2FY24 and it grew 0.56 percent QoQ from Rs. 6244.58 Crores in Q1FY24 to Rs. 6279.56 Crores in Q2FY24.
As per the company’s financial statements the company’s revenue grew 17.28 percent from Rs. 20,947.58 Crores in FY22 to Rs. 24,568.13 Crores in FY23, accompanied by increasing profits of Rs. 638.6 Crores to Rs. 1,104.64 Crores.
It has reported a return on equity (ROE) of 8.97percent and a return on capital employed (ROCE) 10.87 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 37.34 percent stake, the Domestic Institutional Investors hold 19.39 percent and the Foreign Institutional Investors (FII) hold 22.02 percent.
Apollo Tyres Limited is engaged in the manufacturing and sale of automotive tyres, it operates in the segment of automobile tires, automobile tubes and automobile flags.
Written by: Bharath K.S
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