Apollo Tyres (APOLLOTYRE) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly consolidated and standalone revenue in Q3 FY26, with 12% year-over-year growth and EBITDA margin of 15.3%.

• Robust double-digit growth across all product categories and channels in India, with Europe flat due to subdued demand but improved premium mix and margins.

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

• Major capacity expansion at Andhra Pradesh plant for PCR and TBR tyres, with ₹5,810 crore investment to be completed by FY2029.

• Enhanced brand visibility through Indian cricket team jersey sponsorship and recognized sustainability initiatives.

Financial highlights

• Q3 FY26 consolidated revenue was INR 77,431 million, up 11.8% year-over-year; EBITDA grew 25.2% to INR 11,859 million, margin at 15.3%.

• Net profit after tax for Q3 FY26 was INR 4,705.18 million, up from INR 3,372.45 million in Q3 FY25; PAT margin at 6.1%.

• Standalone Q3 FY26 revenue grew 13.2% year-over-year to INR 51,390 million, with EBITDA margin at 14.5%.

• Net debt reduced sharply to INR 13 billion from INR 26 billion in the previous quarter, 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

• Expectation of continued strong demand and double-digit growth into Q4 FY26 and FY27, especially in India.

• Anticipates healthy short- to medium-term growth in PCR and TBR categories, driving capacity expansion.

• Raw material costs projected to remain steady in Q4.

• A&P spend to normalize at 2.5% of sales from FY27, after elevated levels in Q3 and Q4.

• Focus remains on profitable growth, free cash flow generation, and maintaining strong return ratios.