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.