Apollo Tyres Ltd (APTY IN) - Adjusted

In Millions of INR except Per Share Q1 2011 Q2 2011 Q3 2011 Q4 2011

3 Months Ending 06/30/2010 09/30/2010 12/31/2010 03/31/2011
Revenue 18,206.9 19,489.2 23,685.8 27,295.3
+ Sales & Services Revenue 18,206.9 19,489.2 23,685.8 27,295.3
Gross Profit — — — —
+ Other Operating Income — — 1.3 —
- Operating Expenses 16,859.8 18,305.8 21,628.7 24,951.1
+ Depreciation & Amortization 638.1 669.5 673.3 738.5
+ Other Operating Expense 16,221.7 17,636.3 20,955.4 24,212.5
Operating Income (Loss) 1,347.1 1,183.4 2,058.4 2,344.2
- Non-Operating (Income) Loss 303.6 438.3 478.5 241.4
+ Interest Expense, Net 338.4 442.4 528.7 660.2
+ Interest Expense — — — —
+ (Income) Loss from Affiliates — — — —
+ Other Non-Op (Income) Loss -34.8 -4.1 -50.2 -418.8
Pretax Income (Loss), Adjusted 1,043.5 745.1 1,579.9 2,102.8
- Abnormal Losses (Gains) 0.0 0.0 0.0 0.0
+ Other Abnormal Items — — — —
Pretax Income (Loss), GAAP 1,043.5 745.1 1,579.9 2,102.8
- Income Tax Expense (Benefit) 301.5 212.6 372.4 176.7
+ Current Income Tax — — — —
+ Deferred Income Tax — — — —
- (Income) Loss from Affiliates — — 3.3 3.1
Income (Loss) from Cont Ops 742.0 532.5 1,204.2 1,923.0
- Net Extraordinary Losses (Gains) 0.0 0.0 0.0 0.0
+ Discontinued Operations 0.0 0.0 0.0 0.0
+ XO & Accounting Changes 0.0 0.0 0.0 0.0
Income (Loss) Incl. MI 742.0 532.5 1,204.2 1,923.0
- Minority Interest 0.0 0.0 0.0 0.0
Net Income, GAAP 742.0 532.5 1,204.2 1,923.0
- Preferred Dividends 0.0 — 0.0 0.0
- Other Adjustments 0.0 0.0 0.0 0.0
Net Income Avail to Common, GAAP 742.0 532.5 1,204.2 1,923.0

Net Income Avail to Common, Adj 742.0 532.5 1,204.2 1,923.0

Net Abnormal Losses (Gains) 0.0 0.0 0.0 0.0
Net Extraordinary Losses (Gains) 0.0 0.0 0.0 0.0

Basic Weighted Avg Shares 504.1 504.1 503.8 504.0

Basic EPS, GAAP 1.47 1.06 2.39 3.81
Basic EPS from Cont Ops 1.47 1.06 2.39 3.81
Basic EPS from Cont Ops, Adjusted 1.47 1.06 2.39 3.81
Diluted Weighted Avg Shares 504.1 504.1 503.8 504.0
Diluted EPS, GAAP 1.47 1.06 2.39 3.81
Diluted EPS from Cont Ops 1.47 1.06 2.39 3.81
Diluted EPS from Cont Ops, Adjusted 1.47 1.06 2.39 3.81

Reference Items
Accounting Standard IN GAAP IN GAAP IN GAAP IN GAAP
EBITDA 1,985.2 1,852.9 2,731.7 3,082.7
EBITDA Margin (T12M) — — — 10.89
EBITA 1,347.1 1,183.4 2,058.4 2,344.2
EBIT 1,347.1 1,183.4 2,058.4 2,344.2
Gross Margin — — — —
Operating Margin 7.40 6.07 8.69 8.59
Profit Margin 4.08 2.73 5.08 7.05
Sales per Employee — — — —
Dividends per Share — — — —
Total Cash Common Dividends — — — —
Capitalized Interest Expense — 0.0 — —
Personnel Expenses 2,910.9 3,013.4 3,126.2 2,290.7
Depreciation Expense 638.1 669.5 673.3 738.5
Rental Expense — — — —
Source: Bloomberg Right click to show data transparency (not supported for all values)
 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013
06/30/2011 09/30/2011 12/31/2011 03/31/2012 06/30/2012 09/30/2012 12/31/2012
28,224.1 28,712.4 32,282.4 32,314.0 31,647.0 33,748.3 32,173.5
28,224.1 28,712.4 32,282.4 32,314.0 31,647.0 33,748.3 32,173.5
— — — — — — —
— — — 0.0 0.0 0.0 0.0
26,575.0 27,184.5 29,862.5 29,613.5 29,066.7 30,991.4 29,270.7
753.7 776.9 823.6 901.8 935.5 912.6 919.5
25,821.4 26,407.6 29,038.9 28,711.7 28,131.1 30,078.8 28,351.2
1,649.1 1,528.0 2,419.9 2,700.5 2,580.4 2,756.8 2,902.8
600.4 535.9 697.6 605.0 652.3 689.7 538.5
619.9 654.2 730.7 868.1 750.6 829.3 806.3
— — — — — — —
— — — — — — —
-19.5 -118.3 -33.1 -263.1 -98.4 -139.6 -267.8
1,048.6 992.1 1,722.3 2,095.5 1,928.1 2,067.2 2,364.3
0.0 0.0 293.8 0.0 0.0 0.0 0.0
— — 293.8 — — — —
1,048.6 992.1 1,428.5 2,095.5 1,928.1 2,067.2 2,364.3
273.6 210.7 444.3 514.9 539.2 534.5 558.3
— — — — — — —
— — — — — — —
3.9 4.3 4.8 10.2 8.9 10.7 —
771.2 777.1 979.5 1,570.4 1,380.0 1,521.9 1,805.9
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
771.2 777.1 979.5 1,570.4 1,380.0 1,521.9 1,805.9
-0.1 -0.6 -1.0 0.8 -0.1 -0.1 -0.1
771.3 777.7 980.4 1,569.6 1,380.2 1,522.0 1,806.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
771.3 777.7 980.4 1,569.6 1,380.2 1,522.0 1,806.0

771.3 777.7 1,178.9 1,569.6 1,380.2 1,522.0 1,806.0

0.0 0.0 198.5 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0

504.1 504.1 504.1 504.1 503.7 504.1 504.1

1.53 1.54 1.95 3.11 2.74 3.02 3.58
1.53 1.54 1.95 3.11 2.74 3.02 3.58
1.53 1.54 2.34 3.11 2.74 3.02 3.58
 1,008.2 504.1 504.1 1,008.2 503.7 504.1 504.1
1.53 1.54 1.95 3.11 2.74 3.02 3.58
1.53 1.54 1.95 3.11 2.74 3.02 3.58
1.53 1.54 2.34 3.11 2.74 3.02 3.58

IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP

2,402.7 2,304.9 3,243.5 3,602.3 3,515.9 3,669.4 3,822.2
10.20 9.75 9.47 9.51 10.14 10.79 11.25
1,649.1 1,528.0 2,419.9 2,700.5 2,580.4 2,756.8 2,902.8
1,649.1 1,528.0 2,419.9 2,700.5 2,580.4 2,756.8 2,902.8
— — — — — — —
5.84 5.32 7.50 8.36 8.15 8.17 9.02
2.73 2.71 3.65 4.86 4.36 4.51 5.61
— — — — — — —
0.00 — — — — — —
0.0 — — — — — —
— — — — — — —
3,517.0 3,299.1 3,511.2 3,022.8 3,881.9 3,527.9 3,555.4
753.7 776.9 823.6 901.8 935.5 912.6 919.5
— — — — — — —
ported for all values)
 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015
03/31/2013 06/30/2013 09/30/2013 12/31/2013 03/31/2014 06/30/2014 09/30/2014
30,377.6 31,899.3 34,334.6 34,751.2 32,118.2 32,230.6 33,314.1
30,377.6 31,899.3 34,334.6 34,751.2 32,118.2 32,230.6 33,314.1
— — — — — — —
— 0.0 0.0 842.0 174.5 124.8 146.0
28,016.5 28,950.1 31,153.2 30,967.9 28,702.0 29,113.5 29,570.0
1,198.0 985.6 1,038.4 1,063.7 1,020.9 1,003.9 1,070.1
26,818.5 27,964.5 30,114.9 29,904.2 27,681.1 28,109.6 28,499.8
2,361.1 2,949.2 3,181.3 4,625.4 3,590.8 3,241.9 3,890.2
134.2 613.5 570.1 523.5 320.3 198.3 325.9
741.5 723.6 756.1 742.1 616.2 — —
— — — — — — —
— 0.0 — — — — —
-607.3 -110.1 -186.1 -218.6 -295.9 198.3 325.9
2,226.9 2,335.7 2,611.3 4,101.9 3,270.5 3,043.7 3,564.2
0.0 0.0 0.0 0.0 0.0 0.0 0.0
— — — — — — —
2,226.9 2,335.7 2,611.3 4,101.9 3,270.5 3,043.7 3,564.2
816.3 676.2 416.5 721.7 454.2 764.2 984.8
— — — — — — —
— — — — — — —
— — 0.0 — — — 0.0
1,410.5 1,659.5 2,194.8 3,380.1 2,816.2 2,279.4 2,579.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1,410.5 1,659.5 2,194.8 3,380.1 2,816.2 2,279.4 2,579.4
-7.3 0.0 0.0 0.0 0.0 0.0 0.0
1,417.8 1,659.5 2,194.8 3,380.1 2,816.2 2,279.4 2,579.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1,417.8 1,659.5 2,194.8 3,380.1 2,816.2 2,279.4 2,579.4

1,417.8 1,659.5 2,194.8 3,380.1 2,816.2 2,279.4 2,579.4

0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0

504.1 504.1 504.1 504.1 504.1 504.3 509.1

2.81 3.29 4.36 6.71 5.59 4.52 5.07
2.81 3.29 4.36 6.71 5.59 4.52 5.07
2.81 3.29 4.36 6.71 5.59 4.52 5.07
 504.1 504.1 504.1 504.1 504.7 506.5 509.1
2.81 3.29 4.36 6.71 5.58 4.50 5.07
2.81 3.29 4.36 6.71 5.58 4.50 5.07
2.81 3.29 4.36 6.71 5.58 4.50 5.07

IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP

3,559.0 3,934.8 4,219.7 5,689.1 4,611.6 4,245.8 4,960.3
11.38 11.69 12.06 13.25 13.87 14.06 14.73
2,361.1 2,949.2 3,181.3 4,625.4 3,590.8 3,241.9 3,890.2
2,361.1 2,949.2 3,181.3 4,625.4 3,590.8 3,241.9 3,890.2
— — — — — — —
7.77 9.25 9.27 13.31 11.18 10.06 11.68
4.67 5.20 6.39 9.73 8.77 7.07 7.74
— — — — — — —
— — — — — — —
— — — — — — —
— — — — — — —
3,748.5 3,932.1 4,496.5 4,129.3 3,858.1 4,239.4 3,989.4
1,198.0 985.6 1,038.4 1,063.7 1,020.9 1,003.9 1,070.1
— — — — — — —
 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
12/31/2014 03/31/2015 06/30/2015 09/30/2015 12/31/2015 03/31/2016 06/30/2016
30,372.9 31,339.3 28,322.4 29,909.0 29,383.7 29,679.1 32,922.3
30,372.9 31,339.3 28,322.4 29,909.0 29,383.7 29,679.1 32,922.3
— — — — — — —
132.7 258.0 131.2 227.1 193.5 469.9 194.2
26,511.1 27,304.9 24,314.2 26,347.6 25,554.2 26,394.9 28,788.1
932.6 876.2 886.0 1,075.3 1,065.0 1,208.8 1,060.1
25,578.5 26,428.6 23,428.2 25,272.3 24,489.2 25,186.1 27,728.1
3,994.5 4,292.5 4,139.4 3,788.5 4,023.1 3,754.1 4,328.3
365.0 396.7 -11.1 99.7 119.6 50.6 -8.2
— — — — — — —
— — — — — — —
0.0 — — 8.9 13.7 14.5 0.4
365.0 396.7 -11.1 90.8 105.9 36.1 -8.6
3,629.6 3,895.7 4,150.5 3,688.7 3,903.4 3,703.5 4,336.5
789.9 35.0 0.0 -477.7 0.0 0.0 0.0
789.9 35.0 — -477.7 — — —
2,839.7 3,860.7 4,150.5 4,166.4 3,903.4 3,703.5 4,336.5
997.3 785.9 1,244.5 1,365.7 1,113.2 982.9 1,181.1
— — — — — 865.6 894.5
— — — — — 117.3 286.6
— — — — — — —
1,842.4 3,074.8 2,906.0 2,800.7 2,790.2 2,720.6 3,155.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1,842.4 3,074.8 2,906.0 2,800.7 2,790.2 2,720.6 3,155.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1,842.4 3,074.8 2,906.0 2,800.7 2,790.2 2,720.6 3,155.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1,842.4 3,074.8 2,906.0 2,800.7 2,790.2 2,720.6 3,155.4

2,363.8 3,097.7 2,906.0 2,488.4 2,790.2 2,720.6 3,155.4

521.4 22.9 0.0 -312.4 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0

509.1 509.0 509.1 509.1 509.1 508.6 509.0

3.63 6.05 5.71 5.50 5.48 5.34 6.20
3.63 6.05 5.71 5.50 5.48 5.34 6.20
4.64 6.09 5.71 4.89 5.48 5.34 6.20
 509.1 509.0 509.1 509.1 509.1 508.6 509.0
3.63 6.05 5.71 5.50 5.48 5.34 6.20
3.63 6.05 5.71 5.50 5.48 5.34 6.20
4.64 6.09 5.71 4.89 5.48 5.34 6.20

IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP

4,927.1 5,168.7 5,025.4 4,863.8 5,088.1 4,962.8 5,388.3
14.64 15.17 16.28 16.66 16.94 17.00 16.66
3,994.5 4,292.5 4,139.4 — — — —
3,994.5 4,292.5 4,139.4 3,788.5 4,023.1 3,754.1 4,328.3
— — — — — — —
13.15 13.70 14.62 12.67 13.69 12.65 13.15
7.78 9.88 10.26 8.32 9.50 9.17 9.58
— — — — — — —
— — — — — — —
— — — — — — —
— — — — — — —
3,888.6 3,955.9 3,589.6 3,972.0 3,980.0 4,271.6 4,490.4
932.6 876.2 886.0 — — — —
— 400.0 — — — 1,434.2 —
 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018
09/30/2016 12/31/2016 03/31/2017 06/30/2017 09/30/2017 12/31/2017 03/31/2018
30,663.6 34,351.7 32,692.2 32,580.9 34,180.1 40,155.3 39,824.3
30,663.6 34,351.7 32,692.2 32,580.9 34,180.1 40,155.3 39,824.3
— — — — — — —
185.5 227.0 564.0 243.7 586.5 345.4 489.0
27,519.7 30,720.2 30,922.8 31,350.6 32,507.6 37,050.7 36,929.6
1,057.7 1,134.7 1,365.7 1,258.5 1,384.9 1,514.0 1,768.2
26,462.1 29,585.5 29,557.1 30,092.1 31,122.6 35,536.8 35,161.4
3,329.3 3,858.5 2,333.4 1,474.1 2,259.0 3,449.9 3,383.8
-156.8 -89.0 -251.9 252.9 205.0 -53.3 38.9
— — — — — — —
— — — — — — —
1.5 1.2 0.0 0.0 0.0 0.0 0.0
-158.2 -90.2 -251.9 252.9 205.0 -53.3 38.9
3,486.1 3,947.5 2,585.3 1,221.2 2,054.0 3,503.3 3,344.9
0.0 0.0 0.0 0.0 0.0 0.0 0.0
— — — — — — —
3,486.1 3,947.5 2,585.3 1,221.2 2,054.0 3,503.3 3,344.9
890.9 990.5 302.9 338.2 652.2 1,050.3 843.8
705.8 — 357.4 108.5 299.0 838.2 711.7
185.1 — -54.5 229.7 353.3 212.1 132.1
— — — — — — —
2,595.2 2,957.0 2,282.4 883.0 1,401.8 2,453.0 2,501.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
2,595.2 2,957.0 2,282.4 883.0 1,401.8 2,453.0 2,501.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
2,595.2 2,957.0 2,282.4 883.0 1,401.8 2,453.0 2,501.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
2,595.2 2,957.0 2,282.4 883.0 1,401.8 2,453.0 2,501.1

2,595.2 2,957.0 2,282.4 883.0 1,401.8 2,453.0 2,501.1

0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0

509.0 509.0 509.0 509.0 509.0 566.5 572.3

5.10 5.81 4.48 1.73 2.75 4.33 4.37
5.10 5.81 4.48 1.73 2.75 4.33 4.37
5.10 5.81 4.48 1.73 2.75 4.33 4.37
 509.0 509.0 509.0 509.0 509.0 566.5 572.3
5.10 5.81 4.48 1.73 2.75 4.33 4.37
5.10 5.81 4.48 1.73 2.75 4.33 4.37
5.10 5.81 4.48 1.73 2.75 4.33 4.37

IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP

4,387.0 4,993.3 3,699.1 2,732.5 3,643.9 4,963.9 5,152.0
16.17 15.46 14.14 12.14 11.26 10.77 11.24
— — — — — — —
3,329.3 3,858.5 2,333.4 1,474.1 2,259.0 3,449.9 3,383.8
— — — — — — —
10.86 11.23 7.14 4.52 6.61 8.59 8.50
8.46 8.61 6.98 2.71 4.10 6.11 6.28
— — — — — — —
— — — — — — —
— — — — — — —
— — — — — — —
4,543.0 4,505.8 4,119.8 4,314.5 4,903.2 5,302.3 6,035.8
— — — — — — —
— — 2,408.5 — — — —
 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
06/30/2018 09/30/2018 12/31/2018 03/31/2019 06/30/2019 09/30/2019 12/31/2019
42,494.0 41,923.7 46,553.7 41,762.6 42,720.5 39,260.6 43,471.6
42,494.0 41,923.7 46,553.7 41,762.6 42,720.5 39,260.6 —
— — — — — — —
386.5 650.1 629.1 974.7 592.8 597.4 —
39,440.0 39,863.7 43,920.6 40,804.6 41,237.1 38,279.8 —
1,840.6 1,962.0 2,010.5 2,313.6 2,673.1 2,741.8 —
37,599.4 37,901.7 41,910.1 38,491.0 38,564.0 35,538.0 —
3,440.5 2,710.2 3,262.1 1,932.6 2,076.1 1,578.3 —
24.2 737.8 753.3 948.9 308.7 599.5 —
— — — — — — —
— — — — — — —
-0.4 -0.2 -0.5 -0.1 -0.4 -0.2 —
24.6 738.0 753.7 949.0 309.1 599.7 —
3,416.3 1,972.4 2,508.8 983.8 1,767.4 978.8 —
0.0 0.0 0.0 0.0 0.0 0.0 —
— — — — — — —
3,416.3 1,972.4 2,508.8 983.8 1,767.4 978.8 —
897.8 512.0 529.3 143.8 351.4 148.1 —
717.9 477.7 490.7 184.8 326.9 35.3 —
180.0 34.2 38.6 -41.0 24.5 112.8 —
— — — — — — —
2,518.4 1,460.5 1,979.5 840.0 1,416.0 830.7 1,738.6
0.0 0.0 0.0 0.0 0.0 0.0 —
0.0 0.0 0.0 0.0 0.0 0.0 —
0.0 0.0 0.0 0.0 0.0 0.0 —
2,518.4 1,460.5 1,979.5 840.0 1,416.0 830.7 —
0.0 0.0 0.0 0.0 0.0 0.0 —
2,518.4 1,460.5 1,979.5 840.0 1,416.0 830.7 1,738.6
0.0 0.0 0.0 0.0 0.0 0.0 —
0.0 0.0 0.0 0.0 0.0 0.0 —
2,518.4 1,460.5 1,979.5 840.0 1,416.0 830.7 1,738.6

2,518.4 1,460.5 1,979.5 840.0 1,416.0 830.7 1,738.6

0.0 0.0 0.0 0.0 0.0 0.0 —
0.0 0.0 0.0 0.0 0.0 0.0 —

572.4 572.1 572.1 572.1 572.1 572.1 572.1

4.40 2.55 3.46 1.47 2.48 1.45 3.04
4.40 2.55 3.46 1.47 2.48 1.45 3.04
4.40 2.55 3.46 1.47 2.48 1.45 3.04
 572.4 572.1 572.1 572.1 572.1 572.1 572.1
4.40 2.55 3.46 1.47 2.48 1.45 3.04
4.40 2.55 3.46 1.47 2.48 1.45 3.04
4.40 2.55 3.46 1.47 2.48 1.45 3.04

IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP IN GAAP N.A.

5,281.0 4,672.2 5,272.6 4,246.2 4,749.2 4,320.1 —
12.15 12.21 11.93 11.27 10.95 10.92 —
— — — — — — —
3,440.5 2,710.2 3,262.1 1,932.6 2,076.1 1,578.3 —
— — — — — — —
8.10 6.46 7.01 4.63 4.86 4.02 —
5.93 3.48 4.25 2.01 3.31 2.12 4.00
— — — 2,431,450.28 — — —
— — — — — — —
— — — — — — —
— — — — — — —
6,067.5 6,071.6 6,484.7 6,180.8 6,418.1 5,942.7 —
— — — — — — —
— — — — — — —
Q4 2020 Est
03/31/2020
50,466.0

23,063.0

1,898.0

1,898.0

4,582.0

4,582.0

4,582.0

3,011.5

5.26
5.26
5.26
 5.26
5.26
5.26

6,112.5

45.70

5.97