Apollo Tyres Ltd. reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, approved by the Board of Directors at its meeting held on May 14, 2026. On a consolidated basis, the company posted a sharp recovery in quarterly profitability, with net profit rising to ₹6,309.73 million from ₹1,846.18 million in the same period last year. Quarterly consolidated revenue from operations climbed to ₹73,356.74 million from ₹64,235.87 million year-on-year, while consolidated EBITDA for Q4 stood at 10.8B Rupees against 8.4B Rupees in the prior-year quarter, with EBITDA margin expanding to 14.69% from 13.04%. On a standalone basis, the company recorded a net profit of ₹9,033.73 million for the quarter, a sharp increase from ₹1,491.63 million in the same period last year. A significant contributor to the year's profitability was the company's decision to adopt the concessional tax regime under Section 200 of the Income Tax Act, 2025, effective from Tax Year 2026-27, which resulted in a net deferred tax liability reversal of ₹5,736.71 million recognised during the year. The applicable tax rate will reduce to 25.17% from the earlier rate of 34.94%, with exemption in MAT.

Europe Growth Outlook

Apollo Tyres' investor presentation highlighted the company's anticipation of strong growth momentum in Q1 in Europe, underscoring the strategic importance of its European operations to the overall business trajectory.

Analyst View

Morgan Stanley has maintained an Equal-weight rating on Apollo Tyres with a target price of ₹535, citing the company's strong Q4 performance. The brokerage highlighted that revenue, EBITDA, and adjusted PAT rose 14%, 28%, and 69% year-on-year respectively during the quarter. The EBITDA beat estimates, driven primarily by robust performance from the India business.

Standalone Financial Performance

The following table summarises the key standalone financial metrics for the quarter and full year:

On a standalone basis, total assets stood at ₹205,323.59 million as at March 31, 2026, compared to ₹203,099.29 million in the prior year. Total equity increased to ₹118,965.60 million from ₹106,720.53 million. The company also recognised exceptional items of ₹9.47 million for the quarter ended March 31, 2026, related to a reorganisation exercise for employees, and ₹74.56 million for the full year ended March 31, 2026.

Consolidated Financial Performance

On a consolidated basis, Apollo Tyres reported revenue from operations of ₹73,356.74 million for the quarter and ₹284,706.00 million for the full year, compared to ₹64,235.87 million and ₹261,234.17 million respectively in the prior year. The consolidated net profit for the full year stood at ₹13,724.16 million. The consolidated basic EPS for the quarter stood at ₹9.97 and ₹21.66 for the full year.

Consolidated total assets were ₹292,397.17 million as at March 31, 2026, against ₹273,060.20 million in the prior year. Total consolidated equity stood at ₹167,151.67 million compared to ₹147,656.99 million. A notable development in the consolidated results was the recognition of impairment of assets and provisions for closure-related costs amounting to ₹4,551.84 million during the quarter ended March 31, 2026, related to Apollo Tyres (NL) B.V.'s Enschede plant in the Netherlands. The total exceptional item impact for the year ended March 31, 2026 on this account aggregated to ₹10,001.24 million. The payout for the closure is expected in Financial Year 2026-27 as per local legal requirements in the Netherlands.

Segment Performance

The company operates across three geographical segments: APMEA (Asia Pacific, Middle East and Africa), Europe, and Others. The following table presents segment assets and liabilities for FY26:

Key Financial Ratios (Standalone)

The following table presents select standalone financial ratios for FY26:

Dividend and Board Decisions

The board recommended a final dividend of ₹2.50 per equity share (250% on face value of ₹1 each), amounting to ₹1,587.75 million, subject to shareholder approval at the ensuing Annual General Meeting. This is in addition to the interim dividend of ₹3.50 per share (350%) already paid during FY26, bringing the total dividend for the year to ₹6.00 per share (600%). The board also approved the appointment of M/s. BBS Associates, Cost Accountants, as Cost Auditor for FY27, replacing M/s. N.P. Gopalakrishnan & Co. consequent to the completion of their tenure, effective May 14, 2026. Additionally, the board approved seeking shareholder approval for the re-appointment of Ms. Lakshmi Puri (DIN: 09329003) as an Independent Director for a second term of five years, effective from October 29, 2026. The auditors, M/s. S. R. Batliboi & Co. LLP, issued unmodified opinions on both the standalone and consolidated audited financial statements for the year ended March 31, 2026. The listed non-convertible debentures (NCDs) issued by the company aggregate to ₹8,650 million as on March 31, 2026, secured by a pari passu first charge on movable fixed assets.

Apollo Tyres has notified the stock exchanges of a forthcoming Board of Directors meeting scheduled for May 14, 2026 (Thursday), pursuant to Regulations 29 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will take up key agenda items, including the approval of audited financial results and a potential dividend recommendation for the financial year ended March 31, 2026. Additionally, the company has intimated the exchanges of an analyst and investor conference call scheduled for May 15, 2026, to discuss its Q4FY26 financial and operational performance.

Key Agenda Items

The board meeting has been convened to address the following matters:

Q4FY26 Analyst and Investor Conference Call

Pursuant to Regulation 30(6) and 46(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Apollo Tyres has scheduled a group conference call for analysts and investors to discuss the company's financial and operational performance for Q4FY26. The call is scheduled for Friday, May 15, 2026, at 04:00 PM IST. The company has noted that the schedule is subject to changes in case of exigencies on the part of investors or the company. The transcript of the conference call will be submitted to the stock exchanges and placed on the company's website at www.apolloyres.com .

Trading Window Closure

In line with the company's earlier communication dated March 30, 2026, the trading window for dealing in Apollo Tyres' securities was closed from April 1, 2026. The window will remain closed until 48 hours after the declaration of audited financial results, i.e., up to May 16, 2026 (both days inclusive). This closure is in compliance with applicable insider trading regulations.

Regulatory Compliance

Both intimations were submitted to BSE Ltd. and the National Stock Exchange of India Ltd. on May 5, 2026, and were signed by Seema Thapar, Company Secretary & Compliance Officer of Apollo Tyres. The filings underscore the company's adherence to its disclosure obligations under SEBI's listing regulations.