Apollo Tyres plans ₹1,000 crore NCD raise and appoints a new CFO

Apollo Tyres (NSE: APOLLOTYRE) said in a filing on 4 Nov 2026 that its board approved raising up to ₹1,000 crore through private placement of non-convertible debentures, subject to a postal ballot, and appointed Ravi Kumar Shingari as Chief Financial Officer with effect from 4 Nov 2026. The same meeting approved un-audited results for the quarter ended 30 Sep 2026.

Key highlights

• NCD issue size: up to ₹1,000 crore, in one or more tranches
• CFO effective from 4 Nov 2026
• Consolidated profit, quarter ended 30 Sep 2026: ₹292.29 crore
• Listed NCDs outstanding as on 30 Sep 2026: ₹1,250 crore

The board decisions in numbers

The NCD issue is up to ₹1,000 crore and needs shareholder approval

The board approved raising funds by issuing non-convertible debentures aggregating up to ₹1,000 crore, in one or more tranches through private placement. The filing says the issue is within the borrowing limits shareholders approved under Section 180(1)(c) of the Companies Act, 2013, and is subject to their approval through a postal ballot.

Auditors reported nothing to flag on security cover and covenants

The statutory auditors' limited assurance report, as at 30 Sep 2026, says nothing has come to their attention that the company has not maintained the minimum security cover or is not in compliance with the financial covenants. The covenant statement puts net debt to EBITDA at 1.23 times, against a limit of 3.5 times.

The new CFO joined Apollo Tyres in 2018 after over 16 years at KPMG India

Shingari is presently Vice President - Accounts, Tax, Budgeting, Finance, Legal & Investor Relations. At KPMG India he was a Partner in Tax and Regulatory.

What the CFO change and debenture plan mean for Apollo Tyres shareholders

The appointment takes effect from 4 Nov 2026. The debenture plan is a board approval that still needs a postal ballot, and the next step is that ballot.

The filing does not give the postal ballot date, the coupon, tenure or allotment dates of the debentures, how the proceeds will be used, or Shingari's remuneration.