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Buy Apollo Tyrese; target of Rs 271: Hem Securities

Hem Securities is bullish on Apollo Tyres has recommended buy rating on the stock with a target price of Rs 271 in its research report dated November 12, 2021.

December 01, 2021 / 02:48 PM IST
 
 
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Hem Securities report on Apollo Tyres


Apollo Ltd Q2FY22 consolidated revenues came in at ₹5,077.3 Cr, up 18.2% YoY and up 10.7% QoQ. ▪ EBITDA for Q2FY22 stood at ₹638 Cr, down 9.7% YoY and up 12.6% QoQ. ▪ EBITDA margins for Q2FY22 came at 12.36% as compared to 20.27% in Q1FY22 and 16.46% in Q2FY21. ▪ PAT for Q1FY22 stood at ₹173.7 Cr, up 36% QoQ.



Outlook


We initiate a “BUY” rating on the stock and value the stock at 16x FY23E earnings to arrive at the target of ₹271.

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For all recommendations report, click here


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first published: Dec 1, 2021 02:48 pm

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