APOLLOTYRE

Feb 6 (Reuters) - Apollo Tyres Ltd APLO.NS:

• Q3 CONSOL PROFIT 3.37 BILLION RUPEES; IBES PROFIT EST. 3.84 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 69.28 BILLION RUPEES; LSEG IBES EST. 68.43 BILLION RUPEES

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By Lori Ewing

MANCHESTER, England, Dec 11 (Reuters) - Despite a combined population of nearly 1.6 billion people and a deeply engrained passion for football, there are no players from India or Thailand in England's Premier League, but Manchester United are hoping that may soon change.

The club and sponsor Apollo Tyres invited six young players from India, Nepal, Thailand and the United Arab Emirates, from an original pool of 15,000, to Old Trafford last week to work on their skills with United coaches as part of the 'United We Play' initiative to empower footballers from untapped communities.

"I'm a big believer that the most important part of a talent development is opportunity," said United's Director of Academy Nick Cox. "I hope that this programme is inspiring young people, I think that's really important, that people realise that what they're trying to achieve is possible and is real."

Former United player Louis Saha kicked off the fourth edition of the programme a year ago in Kolkata, India. Former United captain Gary Neville oversaw the grand finale of the competition, from which the half dozen players were chosen, in Chandigarh in October.

"This is a brilliant opportunity for these young kids to experience what it takes to get to the top," said former United defender John O'Shea, who helped put the young players through their paces in torrential rain.

"Seeing the team train under tough conditions will help to build their resilience, a quality they'll need if they want to get into the professional leagues."

More than 100 coaches in India and elsewhere also participated in the club's United Soccer Schools training sessions.

While former FIFA boss Sepp Blatter called India a "sleeping giant," the country's staggering population has yet to translate into global football success. The national men's team is ranked 125th in the world and India have never played in a World Cup.

The 1950s-60s are considered India's golden years of football when they won Asian Games gold in 1951 and 1962 and finished fourth at the 1956 Olympics in Melbourne.

In 2010, India's Sunil Chetri signed for the Kansas City Wizards in Major League Soccer but did not play for the first team, while India goalkeeper Gurpreet Singh Sandhu had a three-year stint at Norwegian club Stabaek.

The All India Football Federation last year launched its 'Vision 2047' project, with aims of ranking among Asia's top four countries and to have produced at least one player -- each in men's and women's football -- with international renown by 2047.

While the sport's popularity does not rival that of cricket, some 100,000 fans show up for the annual Kolkata derby between East Bengal and Mohun Bagan, which dates back 100 years.

(Reporting by Lori Ewing; additional reporting by Amlan Chakraborty
Editing by Christian Radnedge)

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Nov 13 (Reuters) - Apollo Tyres Ltd APLO.NS:

• SEPT-QUARTER CONSOL PROFIT 2.97 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 64.37 BILLION RUPEES

• APPROVES RAISING OF FUNDS VIA ISSUE OF NON-CONVERTIBLE DEBENTURES FOR UP TO 10 BILLION RUPEES

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Nov 8 (Reuters) - Apollo Tyres Ltd APLO.NS:

• WILL CONSIDER FUND RAISING

• TO CONSIDER FUND RAISING BY ISSUE OF NCDS THROUGH PRIVATE PLACEMENT

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** Shares of Indian motorcycle maker Bajaj Auto BAJA.NS fall 10% to 10,401 rupees; set for their worst day since March 2020, if losses hold

** Fall after BAJA's weak festive sales growth outlook at just 3%-5% against industry expectations of at least 8%

** BAJA top pct loser on Nifty auto index .NIFTYAUTO and Nifty 50 index .NSEI, which are down 2.8% and 0.5%, respectively

** Forecast drags rivals Hero MotoCorp HROM.NS and TVS Motor TVSM.NS down 3.7% and 4.7%, respectively

** Nifty auto index set for worst day since early Aug

** Tyre-makers CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 0.4% and 2%.

** Battery makers Exide Industries EXID.NS and Amara Raja Energy & Mobility AMAR.NS fall ~2% each

** Auto-focussed lender Shriram Finance SHMF.NS falls 1.6%

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Apollo Tyres APLO.NS fall as much as 3% to 505 rupees

** The tyre maker on Wednesday reported Q1 consolidated profit of 3.02 billion rupees vs analysts' avg estimate of 3.86 billion rupees, per LSEG data

** Weak domestic demand, higher rubber costs dented profit

** Stock set to log fifth fall in 7 straight sessions

** Avg rating of 24 analysts covering the stock is "buy"; median PT at 546.50, a premium of 5.1% to stock's last close - LSEG data

** Stock last down 2.1%, trimming YTD gains to 12.1%

(Reporting by Anisha Ajith in Bengaluru)

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Aug 7 (Reuters) - Apollo Tyres Ltd APLO.NS:

• JUNE-QUARTER PROFIT 1.92 BILLION RUPEES

• JUNE-QUARTER REVENUE FROM OPERATIONS 45.92 BILLION RUPEES

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(Reporting by VijayDattaram Malkar)

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** Shares of Apollo Tyres APLO.NS fall as much as 3.2% to 459 rupees, last down 2%

** Co reports 13.7% fall in March-quarter consol profit to 3.54 bln rupees (nearly $12 mln), hurt by increased tax expenses

** APLO on track for third straight session of losses

** Busiest session for stock since mid Jan; more than 6.3 mln shares change hands, 3x the 30-day avg

** Twenty-three analysts on average have a "buy" rating; median PT 555 rupees - LSEG data

** Stock up ~2% YTD; it had risen 40% in 2023 - its fourth straight year of gains

($1 = 83.4909 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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BENGALURU, May 2 (Reuters) - Indian tyremaker CEAT CEAT.NS reported a lower fourth-quarter profit on Thursday, hurt by higher rubber costs.

WHY IT'S IMPORTANT

CEAT, whose customers include automakers Maruti Suzuki MRTI.NS and Mahindra & Mahindra MAHM.NS, is the first Indian tyremaker to report results this quarter.

CONTEXT

Domestic sales of overall vehicles in India rose more than 20% in the fourth quarter and production climbed more than 21%, according to industry data.

Prices of rubber, a key raw material for tyre manufacturers, rose roughly 10% in the quarter, according to analysts.

BY THE NUMBERS

CEAT's fourth-quarter consolidated net profit fell 18.8% to 1.09 billion rupees ($13.06 million) from a year earlier. Analysts had expected a profit of 1.64 billion rupees, according to LSEG data.

The company's revenue from operations rose 4.1% to 29.92 billion rupees.

CEAT's quarterly expenses rose 3.7% to 27.98 billion rupees, led by a 5.5% climb in raw material costs.

GRAPHIC

(Figures in percentage)

($1 = 83.4550 Indian rupees)

(Reporting by Varun Hebbalalu and Meenakshi Maidas in Bengaluru)

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April 16 (Reuters) - Apollo Tyres Ltd APLO.NS:

• GETS TAX ORDER FOR PENALTY AT 20.6 MILLION RUPEES

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** Apollo Tyres shares APLO.NS down 6.7%, taking losses in past 2 days to over 9%

** Stock's worst 2-day slide in ~6 months on worries over Q3 results and as at least 3 analysts cut ratings

** ICICI Securities cuts to "hold" on risk of operating leverage impact from "too much focus on profitability"

** Nomura cuts to "reduce"; says high margins strategy "unlikely to drive earnings growth", could cost market share

** Also flags risk of margins reversing to avg in 2-3 years and valuation worries

** APLO's 12-mth forward P/E second-highest among peers - LSEG data

** Motilal, though, says APLO has "best blend of earnings growth ... and cheap valuation" vs peers; keeps "buy"

** Avg rating of 23 analysts on stock is "buy" -LSEG data

(Reporting by Nandan Mandayam in Bengaluru)

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Feb 7 (Reuters) - Apollo Tyres Ltd APLO.NS:

• APOLLO TYRES Q3 CONSOL PROFIT 4.97 BILLION RUPEES; LSEG IBES PROFIT EST. 4.97 BILLION RUPEES

• APOLLO TYRES Q3 CONSOL REVENUE FROM OPERATIONS 65.95 BILLION RUPEES; LSEG IBES REVENUE EST. 66.04 BILLION RUPEES

• APOLLO TYRES YEAR AGO Q3 CONSOL PROFIT 2.79 BILLION RUPEES, REVENUE 64.23 BILLION RUPEES

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Jan 12 (Reuters) - Apollo Tyres Ltd APLO.NS:

• GOT GST ORDER LEVYING PENALTY OF 1.2 MILLION RUPEES

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** Shares of Apollo Tyres APLO.NS rise as much as 7.1% to a record high of 485 rupees

** White Iris Investment, a Warburg Pincus entity, likely to sell 3% stake in co with an option to upsize the deal - CNBC TV18 report

** Apollo Tyres did not immediately respond to Reuters' request for comment

** More than 8.4 mln shares change, 3.1x its 30-day avg

** APLO on track for three straight months of gains, if trend holds; eyes fourth consecutive year of gains

** Average rating of 23 analysts covering the stock is "buy"; median PT is 427 rupees - LSEG data

** Stock last up 1.3%, gains 42% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Apollo Tyres APLO.NS rise as much as 5.7% to 406.2 rupees, steepest intraday gain since Jan. 5

** Stock hits highest since Aug. 11

** Co says Q2 consolidated profit more than doubled to 4.74 bln rupees ($56.94 mln), beating analysts' estimate of 4.33 bln rupees, aided by higher auto sales and lower input costs

** Mean rating of 26 analysts covering the stock is "buy"; median PT is 427 rupees - LSEG data

** Stock currently up 4.9%, bumping YTD gains to 23%

($1 = 83.2520 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 7 (Reuters) - Apollo Tyres Ltd APLO.NS:

• INDIA'S APOLLO TYRES Q2 CONSOL PROFIT 4.74 BILLION RUPEES; LSEG IBES EST. PROFIT 4.33 BILLION RUPEES

• APOLLO TYRES Q2 CONSOL REVENUE FROM OPERATIONS 62.8 BILLION RUPEES

• APOLLO TYRES YEAR AGO Q2 CONSOL PROFIT 1.79 BILLION RUPEES, REVENUE 59.56 BILLION RUPEES

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Sept 28 (Reuters) - Apollo Tyres Ltd APLO.NS:

• UPDATE ON APPEAL FILED BEFORE SAT AGAINST ORDER PASSED BY SEBI

• SAT QUASHED ORDER IN ITS ENTIRETY AND DIRECTED SEBI TO REFUND PENALTY AMOUNT OF 6.5 MILLION RUPEES TO CO

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** Shares of India's Apollo Tyres APLO.NS down as much as 3% at 367.60 rupees, hitting lowest level since May 23

** Co says tyre production at its facility in Limda, Gujarat, second-largest plant in terms of FY23 production, halted but no material impact on ops

** Halt due to "concerns amongst shop floor employees relating to renewal of long-term settlement agreement"

** APLO in discussion with labour union representatives to address concerns, find resolution - filing

** More than 1.4 mln shares change hands by 10:00 a.m. IST, 0.6x the 30-day avg

** Mean recommendation of 28 analysts is "buy", median TP 427.50 rupees - LSEG data

** Stock currently down 2%, trimming YTD gains to ~15%

(Reporting by Hritam Mukherjee in Bengaluru)

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Sept 20 (Reuters) - Apollo Tyres Ltd APLO.NS:

• BIAS AND OTR TYRES PRODUCTION AT OUR MANUFACTURING FACILITY IN LIMDA, GUJARAT HAS BEEN STOPPED

• THERE ARE PLANS IN PLACE TO MITIGATE ANY SUPPLY DISRUPTIONS

• CO IS IN DISCUSSIONS AND NEGOTIATIONS WITH LABOUR UNION REPRESENTATIVES TO ADDRESS CONCERNS AND FIND AN AMICABLE RESOLUTION

• PRODUCTION STOPPAGE AT GUJARAT FACILTY DUE TO SHOP FLOOR EMPLOYEES CONCERNS ON TO RENEWAL OF LONG-TERM SETTLEMENT AGREEMENT

• NO MATERIAL IMPACT ON OPERATIONS AT THIS STAGE

  
  

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** Shares of Apollo Tyres APLO.NS shed as much as 1.73% to 387.15 rupees

** Brokerage UBS downgrades tyre maker to "neutral" from "buy", cuts target price to 430 rupees from 440 rupees earlier

** Downgrade after 100% rise in share price over past 15 months as risk-reward is now balanced: UBS

** Says demand in Europe and exports from India have slowed; volume to decline in fiscal 2024

** Of the 28 analysts tracking APLO, nine suggest "strong buy", six recommend "buy", nine have "hold", two retain "sell" and two maintain "strong sell"; median PT is 427.50 rupees - Refinitiv data

** APLO up 20% in 2023 so far, including today's moves, compared with 23% rise in Nifty Smallcap 100 index .NIFSMCP100 of which it is a constituent

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 10 (Reuters) - Apollo Tyres Ltd APLO.NS:

• INDIA'S APOLLO TYRES JUNE-QUARTER CONSOL PROFIT 3.97 BILLION RUPEES VERSUS 1.77 BILLION RUPEES

• APOLLO TYRES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 62.45 BILLION RUPEES VERSUS 59.42 BILLION RUPEES

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** Shares of Apollo Tyres APLO.NS fall as much as 2.5% to 396.55 rupees

** Morgan Stanley downgrades stock to "equal-weight" from "overweight," but raises PT to 425 rupees from 400 rupees

** Says positive factors such as benign competition intensity, easing commodity prices already priced in

** Co looks set to deliver on FY26 margin and return on capital employed targets of over 15% and 12%-15% respectively - MS

** Sees free cash flow upcycle, reducing commodity prices and "sharper-than-expected" recovery in India replacement business, EU market as factors that take APLO stock higher

** Sees rise in commodity prices, competition, capex and weak demand as key risks

** More than 1.6 mln shares change hands by 1:02 p.m. IST

** Avg rating of 28 equivalent of "buy;" median PT is 414.50 rupees - Refinitiv data

** Stock up 22.4% YTD

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Apollo Tyres Ltd APLO.NS fall as much as 2.4% to 406.05 rupees, their steepest intraday pct drop since May 10

** Co targets $5 billion revenue by FY26 and EBITDA growth of over 15%, per its investor presentation

** Estimates RoCE to rise 12-15% from ~10% by FY26

'ANALYSTS AMBIVALENT ON CO'S FY26 TARGETS'

** Kotak ("sell", PT: 325 rupees) raises its FY24-26 consol EPS estimates by 3-4% on higher revenue assumptions, but believes current profitability is "unsustainable" in the medium term; says co unable to generate returns higher than cost of capital

** Nuvama ("hold", PT: 400 rupees) sees a "moderate" 6% compound annual growth rate (CAGR) in revenue over FY23-25 on decline in exports and subdued replacement demand; expects margins to remain in "narrow range" due to intense competition in the absence of price hikes

** Motilal Oswal ("buy", PT: 500 rupees) says co focusing on improving profitability over market share gain ; brokerage estimates APLO to turn net debt free by FY25; raises target price to factor in focus on capital allocation

** Antique Stock Broking ("buy", PT: 519 rupees) sees co's strategy of prioritising RoCE as positive; still, flags raw material cost fluctuation and slowdown in export market as key risks

(Reporting by Priya Sagar in Bengaluru)

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May 9 (Reuters) - Apollo Tyres Ltd APLO.NS:

• MARCH-QUARTER CONSOL PROFIT 4.27 BILLION RUPEES VERSUS 1.13 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 62.47 BILLION RUPEES VERSUS 55.78 BILLION RUPEES

• REAPPOINTS NEERAJ KANWAR AS MD

• RECOMMENDED FINAL DIVIDEND OF 4 RUPEES PER SHARE

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May 4 (Reuters) -

Indian tyremaker CEAT Ltd CEAT.NS reported a more-than-five-fold increase in its fourth-quarter profit on Thursday, aided by low raw material costs and strong domestic demand.

CEAT's consolidated net profit rose to 1.34 billion rupees ($16.40 million) in the three months ended March 31, from 252.5 million rupees a year ago.

Analysts, on average had expected a profit of 908.3 million rupees, according to Refinitiv IBES.

Indian car and bike makers have reported strong domestic growth, which, in turn, has boosted demand for tyre makers. They have also hiked prices that, analysts said, would boost margins.

The Mumbai-based CEAT's revenue rose about 11% to 28.75 billion rupees. Its total expenses rose 5% but the cost of materials consumed fell 6.1%.

That, and the price hikes, helped CEAT's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin increase to 13.1% from 7.2% last year.

"On exports, we continue to face pressure as a result of global economic headwinds, largely spurred by the ongoing war and the currency devaluation," Vice Chairman Anant Goenka said in a statement.

However, while wholesale commercial and passenger vehicle sales growth moderated in April, analysts expect demand for replacement tyres would provide cushion to tyremakers including CEAT rivals MRF Ltd MRF.NS, Apollo Tyres Ltd APLO.NS and JK Tyre & Industries Ltd JKIN.NS in the coming quarters.

"We have begun to see some recovery in exports and the replacement market, especially in the commercial category. We are hopeful that the coming quarters will see a further uptick in growth," CEAT said.

Earlier this week, MRF Ltd MRF.NS said its fourth-quarter profit more than doubled.

CEAT's shares closed 1.07% higher. The company recommended a final dividend of 12 rupees per share.

($1 = 81.7320 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman)

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