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values
Senior Member
Joined: 02/Jan/2011
Location: India
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Posts: 313
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   Posted: 16/Jan/2011 at 12:42pm |
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yes...from the charts it looks like 59-60 is quite a strong level that it displays...
http://www.google.com/finance?q=BOM:500877
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hit2710
Senior Member
Joined: 15/Jun/2009
Location: India
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Posts: 4013
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Posted: 16/Jan/2011 at 6:17pm |
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On Friday it registered a new swing low of 58.65(below nov low of 60.30 ) and closed at around 59.1. Looks quite weak on the charts. For investment purpose, one needs to allow it to stabilise at some level before contemplating a buy.
In view of high rubber prices, the profitability of tyre companies might get affected during next couple of quarters so I think it might head lower.
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Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart.
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shontou
Senior Member
Joined: 04/Aug/2011
Location: India
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Posts: 865
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Posted: 12/Aug/2011 at 3:49pm |
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Conference Call
Apollo Tyres
Expects revenue to grow by 30% in FY12
Apollo Tyres has come out with financial results for the quarter ended June 11 and conducted concall on 11 August 11 to discuss the financial performance and the prospects of the company. Gaurav Kumar – Group Head, Corporate Strategy and Finance, Rakesh Jain – Head Accounts and Ritu Jain – Divisional head, Corporate Strategy addressed the call.
Highlights of the call are:
The company has reported 55% increase in the consolidated total income from operations at Rs 2822.41 crore aided by 34% growth in volumes and 21% growth in the price and mix. Consolidated Volumes of production stood at 1.25 lakh Tons in quarter under review. However increase in Net Debt at Rs 28.4 billion on the back of capex and increase in working capital requirements have put pressure on the profitability.
Depending on domestic availability basis, the breakup of revenues of the company in various categories of tyres is as follows: T&B 27%, PCR 23%, LCV's 20%. At consolidated level, revenues breakup of the company stood at follows: Truck 48%, PCR 31%, Light Truck 8% etc.
The average raw material prices of the company for the quarter ended June 11 was as follows: Rubber 245 per kg, Carbon Black Rs 65 per Kg, and Nylon Tyre Cord Fabric Rs 245 per Kg.
The company has under taken 14% increase in the tyre prices across all baskets in replacement market and 10% in OEM's in Indian Operations. It has taken increase of 5% in March and 4% in June in European operations and 5% in April and 8% in June in South African operations.
Revenues from Indian operations increased by 75% to Rs 1960.78 crore and constituted major 65% of the total revenue. The company is facing demand slowdown from the Indian operation. The company has observed production cut in biased segment T&B tyres in July – September quarter. It has undertaken one time 6 days production cut in Baroda plant and 5 or 6 days a week production in Kerala plant.
Exports from Indian operations constituted 9% of the total revenues for the quarter. The company has exported 40 lakh PCR tyre units to Europe against 15 lakh tyre units in the corresponding previous year.
Revenues from European operations increased by 38% to Rs 603.52 crore and constituted 21% of the revenues. Outsourcing of tyres from Indian plant has increased in the quarter on the back of spike in the demand. The company has witnessed 15% increase in the volume growth during the quarter.
On the other hand, revenues from South African operations inched up by 5% to Rs 250.01 crore. The demand recovery was in line with GDP growth. With increase in the market share of imported tyres from China, the company has witnessed sharp decline in demand for the cross ply T&B tyres. It has shut down a line of cross ply T&B tyre production in Durban plans as it is not profitable.
The Indian government has removed anti dumping duty on radial tyres imported from China and Thailand on 11 August 11. Keeping in view the softness of replacement demand on T&B tyres, the above move will put direct pressure on the Indian tyre industry as they will face more competition from companies from China and Thailand.
The Chennai plant is ramping up with average production of 160 Mt per day in quarter under review. The company expects the plant to ramp up to 400-450 Mt per day by end of March 12.
The Inventory has increased in the quarter on the following reasons: (a) Normal build up of inventory in European business as it enters winter season (b) sales haven't picked up in line with production increase. In general, normal inventory in Indian operations is 3 weeks and that of other overseas operations is 1 quarter.
The company has also observed slackened demand on PCR tyres in the quarter under review. The growth in PCR has slipped to around 11-15% in quarter under review against 25-30% growth in the corresponding previous quarter. On the other hand, growth in the T&B demand remained flat in quarter under review.
The company has planned for backward integration of rubber plantation and has taken a land for rubber cultivation overseas. The management expects the first rubber output to come out in 2017.
Tax rate at consolidated level would be 26% for FY12.
The management expects the revenues to improve by 30% in FY12.
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Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?
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shontou
Senior Member
Joined: 04/Aug/2011
Location: India
Online Status: Offline
Posts: 865
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Posted: 10/Nov/2011 at 7:43pm |
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Conference Call
Apollo Tyres
Decline in natural rubber prices will reflect in Q4FY12 results
Apollo Tyres came out with financial results for the quarter ended September 11 and conducted concall on 9 November 11 to discuss financial performance and future prospects of the company. Gaurav Kumar – Group Head, Corporate Strategy and Finance, Rakesh Jain – Head Accounts and Ritu Jain – Divisional head, Corporate Strategy addressed the call.
Highlights of the call are:
For the quarter ended September 11, the company has reported 47% jump in the consolidated total income from operations at Rs 2871.24 crore on the back of both increase in volumes and prices. The company has witnessed 31% growth in the volumes and 16% increase in the price and mix in quarter under review.
Replacement market in T&B segment has reported flat growth in the quarter under review. Although there is no much pressure on the back of antidumping duty removal on Chinese and Thailand tyres, the domestic industry has witnessed pressure with slowdown in demand and seasonality issues in the second quarter ended September 11. However, the management expects Q3Fy12 to be better than Q2FY12.
Revenues from Indian operations grew 57% to Rs 1844.88 crore steered by 37% volume growth and 20% on account of price increase and change in mix. The company has increased OEM component of total sales from 25% to 34% in the quarter under review. This was on the back of increase in production of PCR tyres and increase in off take of truck radials in OEM segment.
Revenues from European operations which contributed 26% of total revenues grew 43% to Rs 749.22 crore. The revenue growth was attributed to 21% increase in volumes, 10% on price and Mix and 12% on account of exchange fluctuation. Replacement market constitutes 85% of the revenues from European operations and PCR constitutes 75% of the revenues in tyre category.
Capacity of the company at end of September 11 was as follows: Europe 170 TPD, South Africa 170 TPD and India 1150 TPD.
In domestic operations, the Company has taken 2.5% price hike at end of August 11 on radial Truck and bus tyres. It has also increased export realizations by 10% and increased realizations on OEM off take by 1.5% in quarter under review. The full impact of this price hike will be reflected in Q3FY12 financials.
Average raw material prices in the quarter are as follows: Rubber Rs 235 per Kg, NTCF Rs 250 per Kg and Carbon black Rs 70 per Kg. The company is witnessing a decline in the raw material prices particularly on natural rubber. The effect of declining NR cost can be witnessed in Q3FY12 for European operations and in Q4FY12 for Indian and South African operations on the back of inventory levels and rupee depreciation respectively. The company imports half of its NR requirements in Indian operations while that was more than half in South African operations.
Exports constituted 11% of the revenues in the quarter under review.
On the standalone front, the company has reported 41% dip in the Net Profit at Rs 22.07 crore despite strong 57% increase in the Net sales at Rs 1844.88 crore. Volumes declined 10% on q-o-q basis
The Chennai plant is ramping up with average production of 250 Mt per day in quarter under review. The company expects the plant to ramp up to 400-450 Mt per day by end of March 12.
The pending capex for FY12 stands at Rs 150 crore pertaining to Chennai facility. Consolidated capex for FY13 would be Rs 200 crore.
Consolidated Net debt stood at around Rs 32 billion at end of September 11.
Expects tax rate at 28-29% for FY12
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Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?
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excel_monkey
Senior Member
Joined: 17/Nov/2009
Online Status: Offline
Posts: 1281
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Posted: 10/Nov/2011 at 8:28pm |
Shontou you are the best teddie
your notes make life so much easier 
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I have a vested interest in the stocks I discuss, therefore I would request you to kindly consider my comments with a pinch of salt and do your own due diligence
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shontou
Senior Member
Joined: 04/Aug/2011
Location: India
Online Status: Offline
Posts: 865
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Posted: 10/Nov/2011 at 9:53am |
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You are most welcome Excel.
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Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?
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