Apollo Tyres Ltd.

Financial

	Apollo Tyres	Balkrishna Inds.	CEAT
Operational Metrics
Tyres
Capacity Utilization - Tyres	n/a	n/a	n/a
Unclassified
R&D as a % of Total Sales	1.59 %	0.64 %	1.44 %
Financials
5 yr Average ROE	5.73 %	18.02 %	7.54 %
5yr average Equity Multiplier	2.37	1.46	2.58
5yr Average Asset Turnover Ratio	0.73	0.75	1.03
5yr Avg Net Profit Margin	3.27 %	16.66 %	3.02 %
Price to Book	2.38	5.51	2.73
P/E	17.21	36.41	15.32
5yr Avg Cash Conversion Cycle	11.64 Days	54.65 Days	-30.2 Days
Inventory Days	67.77 Days	53.85 Days	47.02 Days
Days Receivable	33.72 Days	41.32 Days	39.7 Days
Days Payable	88.14 Days	65.57 Days	109.78 Days
5yr Average Interest Coverage Ratio	3.38	81.58	3.05
5yr Avg ROCE	7.73 %	22.7 %	9.71 %
5yr Avg Operating Profit Margin	13.55 %	29.27 %	10.09 %
5 yr average Debt to Equity	0.54	0.27	0.58
5yr CAGR Net Profit	10.2 %	6.45 %	-5.89 %
5yr Average Return on Assets	2.48 %	12.42 %	3.02 %
Shareholdings
Promoter Holding	37.36 %	58.29 %	47.21 %
Share Pledged by Promoters	1.07 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.05 %	-0.01 %	0.39 %
Change in Mutual Fund Holding (3 Yrs)	5.63 %	0.04 %	2.5 %

Business

	Apollo Tyres	Balkrishna Inds.	CEAT
Product Wise Break-Up	Product Wise Break-Up Tyres 100.0 Government grants 0 Royalty income 0 Sale of scrap 0 Tubes and others 0 Automotive Tyres 0	-	Product Wise Break-Up Tyres 0 Tyres 91.87 Tubes 6.58 scrap 0.54 Royalty income 0.04 Government 0.92 Others 0.05
Location Wise Break-Up	Location Wise Break-Up Asia Pacific 57.88 Europe 29.1 North America 0 India 0 Rest of the World 0 Others 13.02	Location Wise Break-Up North America 20.01 Asia Pacific 0 Rest of the World 0 Europe 45.5 India 22.23 Others 12.26	Location Wise Break-Up North America 0 Asia Pacific 0 Rest of the World 18.0 Europe 0 India 82.0
OEM vs Aftermarket	OEM vs Aftermarket After market 78.0 OEM 22.0 OEMs 0	OEM vs Aftermarket OEMs 0 After market 0 OEM 26.5 Others 73.5	OEM vs Aftermarket OEM 28.0 After market 0 OEM 0 Others 72.0
Operating Profit Break-Up	Operating Profit Break-Up APMEA 68.03 Europe 31.05 Others 0.92	-	-
Customer Segment	Customer Segment Truck and Bus 42.0 4 Wheeler 38.0 Off Highway 8.0 Light Commercial Vehicles 6.0 ATV and lawn and garden 0 OTR 0 Agriculture 0 Speciality 0 Farm 0 Passenger Car/Utility Vehicles 0 LCV & LM 0 2/3 Wheeler 0 Truck and Buses 0 Others 6.0	Customer Segment Agricultural 58.2 OTR 38.5 Passenger Car/Utility Vehicles 0 Truck and Bus 0 Speciality 0 LCV & LM 0 2/3 Wheeler 0 Truck and Buses 0 Off Highway 0 Farm 0 4 Wheeler 0 Light Commercial Vehicles 0 ATV and lawn and garden 0 Others 3.3	Customer Segment Agriculture 0 OTR 0 4 Wheeler 20.0 Truck and Bus 0 Speciality 0 Light Commercial Vehicles 7.0 2 & 3 Wheelers 28.0 Truck and Bus 31.0 Off Highway 14.0 Farm 0 4 Wheeler 0 Light Commercial Vehicles 0 ATV and lawn and garden 0
Raw Material Break-Up	Raw Material Break-Up Rubber 49.17 Carbon Black 14.78 Chemicals 11.02 Fabric 10.72 Fabrics 0 Others 14.31	-	Raw Material Break-Up Fabric 11.12 Chemicals 7.81 Rubber 47.4 Carbon Black 0 Fabric 0 Others 33.67
Asset Break-Up	Asset Break-Up APMEA 63.69 Europe 31.03 Outside India 0 In India 0 India 0 Others 5.28	Asset Break-Up Outside India 0.43 India 99.57 Europe 0 APMEA 0 India 0	Asset Break-Up Outside India 0 In India 0 Europe 0 APMEA 0 India 97.47 Others 2.53

Apollo Tyres Ltd.

SIGN UP FOR FREE