Apollo Tyres Proposes 450% Dividend, Q4 Profit Rose 73%

11 May 2023
2 mins read
Apollo Tyres delivers outstanding financial performance with 88% returns in the past year and a dividend of Rs 4.50 per share for fiscal year 2023.
Apollo Tyres Proposes 450% Dividend, Q4 Profit Rose 73%

For the fourth quarter that concluded on March 31, 2023, the company’s consolidated net profit increased from Rs 113.45 crore for the same quarter the previous year to Rs 427.40 crore, 276% rise in profit. The company’s overall revenue in Q4FY23 increased from Rs 5,615.49 crore in the same period the previous year to Rs 6,264.24 crore, an increase of 11.55%.       

The company reported increase in net profit for the year ended March 31, 2023, from Rs 261.06 crore to Rs 578.74 crore. When compared to the year ended March 31, 2022, the company’s total revenue climbed by 17.59% to Rs 17,376.15 crore from Rs 14,776.30 crore during the year under review.       

For the fiscal year that ended on March 31, 2023, the firm recorded a rise in net profit of 72.98% from Rs 638.60 crore to Rs 1104.64 crore on a consolidated basis. The company’s total revenue increased by 16.79%, or Rs 24,609.22 crore from the year ended March 31, 2022, or Rs 21,071.06 crore.      

The board has proposed a final dividend of Rs 4 per equity share and a special dividend of Rs 0.50 per equity share for the 50th Annual General Meeting of the Company. The total dividend per equity share amounts to Rs 4.50 on a face value of Rs 1 for the fiscal year 2023. The payment or dispatch of the dividends will take place within 30 days after the conclusion of the AGM, pending approval from the shareholders.    

In the last trading session, the script closed at Rs 368.45 and today it opened at Rs 371.25. It has touched a high and low of Rs 373 and Rs 365.90, respectively and closed at Rs 368.35.    

As a business, the company makes and sells tyres. The company’s two main brands are Apollo and Vredestein but it also has the smaller, more regionally focused brands, Kaizen and Regal. While Regal and Kaizen concentrate on the truck-bus tyre market, Apollo and Vredestein offer tyres for passenger, commercial and off-road vehicles.