Apollo Tyres (APOLLOTYRE) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly consolidated and standalone revenue in Q3 FY26, with nearly 12% top-line growth and an EBITDA margin of 15.3%.

• Robust double-digit growth across all domestic channels and product categories; European market remained muted with flattish revenue year-over-year, but premium product mix and margin improvements were noted.

• Focused on profitable growth through new product launches, premiumization, disciplined cost management, and enhanced brand visibility via Indian cricket team jersey sponsorship.

• Board approved unaudited financial results and declared an interim dividend of ₹3.50 per share, with payment within 30 days.

• Sustainability initiatives recognized with multiple awards and expansion of healthcare centers for the trucking community.

Financial highlights

• Consolidated revenue for Q3 FY26 was INR 77,431 Mn, up 11.8% year-over-year; EBITDA grew 25.2% to INR 11,859 Mn, margin improved to 15.3%.

• Q3 FY26 consolidated PAT rose to INR 4,705.18 Mn, up from INR 3,372.45 Mn in Q3 FY25, with PAT margin at 6.1%.

• Standalone India revenue was INR 51,390 Mn, up 13.2% year-over-year; EBITDA margin at 14.5%.

• Net debt reduced sharply to INR 13 Bn from INR 26 Bn sequentially, driven by strong operational cash flows.

• Basic and diluted EPS for Q3 FY26 stood at ₹7.43, up from ₹5.31 in Q3 FY25.

Outlook and guidance

• Healthy demand momentum expected to continue into Q4 FY26 and beyond, with January showing double-digit growth.

• Raw material costs expected to remain steady in Q4.

• CapEx guidance for FY26 remains unchanged; FY27 and FY28 to see higher CapEx, peaking in FY28.

• Tax rate expected to move to 25%-26% from FY27.

• Expectation of continued improvement in Europe, driven by gradual demand recovery and cost optimization.