Apollo Tyres Announces Interim Dividend and Board Meeting

Apollo Tyres Declares Interim Dividend

Apollo Tyres Ltd. , a leading tire manufacturer, has announced an interim dividend for the fiscal year 2023-24. The company's board of directors has declared an interim dividend of ₹3.00 per equity share.

Key Details

Dividend Amount: ₹3.00 per equity share
Face Value: ₹1.00 per share
Dividend Percentage: 300%
Record Date: March 5, 2024

Upcoming Board Meeting

The company has also scheduled a board meeting for February 29, 2024. This meeting is expected to cover several important agenda items:

Consider and approve the interim dividend for FY 2023-24
Consider raising funds through the issuance of non-convertible debentures (NCDs) on a private placement basis

Investor Impact

Shareholders of Apollo Tyres should take note of the following dates:

Ex-Dividend Date: March 4, 2024
Record Date: March 5, 2024

Investors who hold Apollo Tyres shares at the close of business on the record date will be eligible to receive the interim dividend.

Company Overview

Apollo Tyres Ltd. is a prominent player in the Indian tire industry, known for its wide range of products catering to various vehicle segments. The announcement of this interim dividend and the upcoming board meeting to discuss fund-raising through NCDs indicates the company's focus on shareholder returns and strategic financial planning.

Conclusion

The declaration of a 300% interim dividend is a positive signal for Apollo Tyres' shareholders, reflecting the company's strong financial position and commitment to returning value to its investors. The upcoming board meeting to discuss NCD issuance also suggests that the company is exploring options for capital raising, which could potentially fund future growth initiatives or refinance existing debt.

Investors and market analysts will be keenly watching the outcomes of the February 29 board meeting for further insights into Apollo Tyres' financial strategies and future outlook.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.86%	+2.24%	+1.58%	+15.81%	-0.72%	+181.86%

Apollo Tyres , a leading tire manufacturer, has reported a significant corporate action involving one of its shareholders. Emerald Sage Investment Ltd has pledged a substantial portion of its holdings in the company. Here are the key details of this development:

Pledge Details

Aspect	Information
Pledging Entity	Emerald Sage Investment Ltd
Shares Pledged	6,30,50,966 equity shares
Percentage of Paid-up Capital	9.93%
Beneficiary	Catalyst Trusteeship Limited (as security agent for certain lenders)
Date of Pledge Creation	01 December 2025

Impact on Share Capital

The pledge creation does not alter Apollo Tyres' total equity share capital, which remains at INR 63,51,00,946.

Implications

This pledge of shares by Emerald Sage Investment Ltd could be part of a financing arrangement, potentially indicating:

Leveraging of assets by the investment firm
Possible fundraising activity or loan security

It's important to note that share pledging is a common practice and doesn't necessarily imply any immediate change in the company's operations or ownership structure.

Regulatory Compliance

The disclosure of this pledge aligns with the regulatory requirements set by the Securities and Exchange Board of India (SEBI), ensuring transparency for all stakeholders.

Investors and market participants are advised to monitor any further developments or disclosures related to this pledge, as it involves a significant portion of Apollo Tyres' equity.