Improving outlook in both India and EU

Company
16 May 2024
5 Min read 
  • Apollo Tyres 4QFY24 results update with financials and valuations.
  •  Improving outlook in both India and EU with a buy rating.
  •  APTY's 4QFY24 consol. EBITDA margin at 17.2% (+120bp YoY).
  •  APTY increased prices in May24 to offset EPR and higher RM costs.
  •  Reiterate BUY with a revised TP of INR550.
  •  APTY expects high single digit/low double digit growth in CV/PVs.
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