The Board of Directors of Apollo Tyres Ltd today approved the company’s audited financial results for the 4th quarter (January to March) and the financial year 2020-21. The Board recommended a dividend payout of 350%, to be approved by the shareholders at the forthcoming Annual General Meeting, later in the year.
Consolidated revenues, from operations across geographies, for the fourth quarter grew 39% to close at Rs 5026 crores, where as, for the full year of FY21, it grew 6% to close at Rs 17397 crores. Operating profit (EBITDA excluding other income) was up 70% in Q4, while for the full year, it was up 44%.
Quarter 4 Consolidated Performance Highlights: Q4 FY2020-21 (January-March) vs. Q4 FY2019-20
- Revenue (from Operations) grew 39% to close at Rs 5026 crores, as compared to Rs 3616 crores
- Operating profit (excluding other income) reported was Rs 815 crores, as against Rs 480 crores
- Net profit for the quarter (excluding exceptional item) closed at Rs 289 crores, as compared to Rs 78 crores
Indian Operations continued with its robust performance in all segments of the market and reported an increase of 49% in its Q4 Revenue (from Operations) to close at Rs 3630 crores, where as for the full year, it grew 6% to close at Rs 11733 crores. Similarly, European Operations’ revenue, including Reifen, was up 20% in Q4 to close at Rs 1404 crores, where as for the full year, it increased 8% to close at Rs 5675 crores.
Consolidated Annual Performance Highlights: FY2020-21 (April-March) vs FY2019-20
- Revenue (from Operations) was up 6% to close at Rs 17397 crores, as compared to Rs 16350 crores
- Operating profit (excluding other income) reported was Rs 2797 crores, as against Rs 1939 crores
- Net profit (excluding exceptional item) stood at Rs 958 crores, as compared to Rs 476 crores
Commenting on the results, Onkar Kanwar, Chairman, Apollo Tyres Ltd, said, “What started as an extremely challenging year, with lockdowns across geographies, ended on a very healthy note for us with robust revenue growth across market segments and geographies. Ensuring business continuity along with the safety of our employees have been of paramount importance throughout this pandemic, and considering the current situation, especially in India, we cannot let our guard down. The year ahead is full of challenges, with demand getting impacted due to the lockdowns, and pressure on margin front, due to the rising raw material prices.”