Suppliers

Apollo's Yearly Revenue Rises Despite 4Q Decrease

Posted on May 9, 2019

Apollo Tyres Ltd. posted net income of 840 million rupees on net sales of more than 41.7 billion rupees for its fourth quarter ended March 31, 2019. That compares to income of nearly 2 billion rupees on sales of 46.5 billion rupees for the same period in fiscal 2017-2018 (also known as fiscal 2018).

Based on the exchange rate on March 31, 2019, Apollo recorded net income of $12.1 million on net sales of $601.4 million for the fourth quarter of fiscal 2019. The company’s income-to-sales ratio was 2%.

For the full year, Apollo’s net income was 6.8 billion rupees (nearly $98 million) on net income of 172.7 billion rupees (nearly $2.5 billion), resulting in an income-to-sales ratio of 3.9%.Compared to the previous fiscal year, income was down 6%, and sales were up 15.7%.

The revenue breakdown in geographical results is as follows:

Region4QFull year
APMEA*$448.4 million$1.8 billion
Europe $174.2 million $759.3 million
Others $98.8 million$516 million

* Asia Pacific/Middle East/Africa

Indian and European Operations continued with their growth momentum in the full year from April 1, 2018, to March 31, 2019. Both registered double-digit revenue growth, led by a strong performance in the commercial vehicle segment, especially truck.

"Considering the headwinds, we have managed a healthy volume growth across geographies for the full year, as well as, in the fourth quarter of FY19," says Chairman Onkar Kanwar. "The bottom line has been impacted, especially in Q4, due to the write-off for ILFS, and the raw material prices, as a basket, going up by nearly 10% (in Q4).

"In India, with the green shoots already visible in the replacement market, we are optimistic about the overall sales picking up post the elections; European Operations, on the other hand, will continue with its strong performance on the back of increased supplies from Hungary."

Apollo’s board of directors commended a dividend payout of 325%, to be approved by the shareholders at the forthcoming annual general meeting.

Related Topics: Apollo financials, dividend, Onkar Kanwar, raw material costs

Comments ( 0 )
More Stories
News Ford Has New Motorcraft Diesel Fuel Filter

Ford Motor Co. has added a Motorcraft F-150 3.0L diesel fuel filter (FD4627) to its lineup of diesel fuel filters for Super Duty Power Stroke Turbo Diesel engines (FD4615 and FD4625).

(from left): John Quirk, chairman and CEO; Robert Kaffel, district manager; Paul Boudreau, district manager;  Allyn Belair, service manager;   Framingham Mayor Yvonne Spicer; Fitzroy Letts, service manager; Dennis Giombetti, chair-district 5 city councilor (Framingham); Dustin Mellor, district manager; Gerry Kostro, director of equipment, shop training and tech school partnerships; Bruce Cochran, Valvoline representative;  Randy Delgado, Framingham store technician;  Joe Comley, Valvoline direct market sales manager; Felix Mercado, Framingham store technician; and Corey Boylen, Framingham service manager II. 
News VIP Tires & Service Is Changing Oil for Education at Its Newest Store

VIP Inc. paired the grand opening of its newest store with the launch of a two-month-long $10 oil change promotion to benefit a local school district.

Bill Walker (third from left) is the newest member of the Big O Tires Hall of Fame. He is pictured with Big O Tires executives (from left): Rick O'Neil, Jim Bull and John Kairys.
News Big O Tires Adds to Hall of Fame and Honors Top Franchisees

Big O Tires LLC recognized its top performers for both business success and contributions to the growth of the franchise during its 2019 convention.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!