Apollo Tyres Ltd shareholders approved a final dividend of ₹2.50 per equity share and adopted the audited financial statements for FY26 at the company’s 53rd Annual General Meeting (AGM) held on July 29, 2026. The meeting, conducted via Video Conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars, also saw the reappointment of key board members and ratification of cost auditor remuneration. However, detailed voting results reveal significant institutional dissent regarding the reappointment of director Mr. Vishal Mahadevia, despite unanimous support from the promoter group.

The Board declared a 250% dividend for the financial year ended March 31, 2026, payable to shareholders holding shares on the record date of July 10, 2026. This distribution follows the adoption of the audited standalone and consolidated financial statements for FY26, which were reviewed by Statutory Auditors and Secretarial Auditors without any qualification, reservation, adverse remark, or disclaimer. The voting process included remote e-voting from July 26, 2026, to July 28, 2026, followed by e-voting during the meeting via the National Securities Depository Limited (NSDL) platform. Mr. P. P Zibi Jose was appointed as the Scrutinizer to supervise the process.

Voting Breakdown and Institutional Dissent

While promoters voted unanimously in favor of all five resolutions, public institutional investors showed notable divergence on specific board appointments. For the reappointment of Mr. Vishal Mahadevia (DIN: 01035771), who retires by rotation, public institutions cast 3,52,39,605 votes against the resolution, representing 15.97% of polled votes from that category. In contrast, the promoter group held 23,45,67,487 shares and voted 100% in favor. Public non-institutional investors largely supported the move, with only 0.01% voting against.

Similarly, the special resolution to reappoint Ms. Lakshmi Puri (DIN: 09329003) as an Independent Director received 98.91% support from public institutions, with 24,09,162 votes cast against. She will serve a second term of five consecutive years, effective from October 29, 2026, to October 28, 2031. All other resolutions, including the adoption of financials and dividend declaration, passed with near-unanimous support across all shareholder categories.

Governance and Compliance

The company secured approval for the ratification of remuneration to Cost Auditors for the financial year 2026-27. Although Mr. Mahadevia was unable to attend the meeting due to prior engagements, his reappointment was approved by the requisite majority. The total number of shareholders on the record date was 4,27,973. Of these, 6 promoters and 64 public shareholders attended the meeting through Video Conferencing. The remaining votes were cast via remote e-voting, which accounted for the vast majority of participation.

What the Numbers Show

The unanimous approval of the ₹2.50 dividend and financial statements signals strong alignment between management and the majority of shareholders on fiscal performance and cash distribution. However, the 6.73% opposition to Mr. Mahadevia’s reappointment, driven primarily by institutional investors, suggests a nuanced view on board composition among large fund managers. This divergence is material as it indicates that while operational and financial strategies are widely accepted, governance structures are subject to closer scrutiny by institutional stakeholders. The high participation rate of 82.40% across all resolutions underscores robust shareholder engagement in the digital voting process.

Apollo Tyres Ltd's promoter group has declared that it has not created any encumbrance on the company's equity shares during the financial year 2025-26. The disclosure, submitted to the stock exchanges, confirms that the shares held by the promoters are free from pledges or charges, either directly or indirectly. This assurance is crucial for investors as it indicates the absence of leveraging against the promoter's holdings, which could otherwise signal financial stress or risk.

The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Seema Thapar, the Company Secretary & Compliance Officer of apollo tyres , communicated the disclosure to BSE Ltd and National Stock Exchange of India Ltd on April 8, 2026. The regulation mandates periodic disclosures to ensure transparency regarding the holding status of promoters.

The disclosure encompasses the entire promoter group, listing 20 entities and individuals associated with Apollo Tyres Ltd. The list includes key corporate entities such as Sunrays Properties and Investments Company Private Limited, Apollo Green Energy Limited, and Classic Industries and Exports Limited. It also names individual promoters, including Mr. Onkar Kanwar, Mrs. Taru Kanwar, Mr. Neeraj Singh Kanwar, and Mr. Raaja Kanwar.

Promoter Group Entities

The following table details the companies and individuals comprising the promoter group of Apollo Tyres Ltd as per the filing: