Apollo Tyres Q2 FY27 Results: Consolidated Net Profit ₹292 Crore on Total Income of ₹8,011 Crore
- Earnings
- Tyres
Reviewed byRachit TripathiBlacklitt Research
Apollo Tyres (NSE: APOLLOTYRE) reported consolidated total income of ₹8,010.51 crore and net profit of ₹292.29 crore for the quarter ended 30 Sep 2026, it said in a filing on 4 Nov 2026. Standalone total income was ₹5,959.83 crore and net profit ₹275.72 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹8,010.51 crore, up 16.8% YoY and 7.4% QoQ
- Net profit and EPS: ₹292.29 crore, up 13.3% YoY; basic EPS ₹4.62 against ₹4.07
- Finance costs: ₹94.24 crore, down 6.7% YoY
- Exceptional item: ₹26.85 crore, deducted before profit before tax of ₹396.18 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹5,959.83 crore, up 25.6% YoY and 8.5% QoQ
- Net profit and EPS: ₹275.72 crore, down 0.5% YoY; basic EPS ₹4.36 against ₹4.37
- Tax expense: ₹100.61 crore, down 34.2% YoY
- Exceptional item: ₹0.67 crore, deducted before profit before tax of ₹376.33 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 8,010.51 | 6,860.83 | +16.8% | 7,456.12 | +7.4% | |
| Revenue from operations | 7,968.15 | 6,831.09 | +16.6% | 7,397.79 | +7.7% |
| Other income | 42.36 | 29.74 | +42.4% | 58.33 | -27.4% |
| 292.29 | 258.05 | +13.3% | 348.87 | -16.2% | |
| Profit before tax | 396.18 | 386.08 | +2.6% | 467.69 | -15.3% |
| Finance costs | 94.24 | 101.05 | -6.7% | 91.47 | +3.0% |
| Depreciation | 380.62 | 383.40 | -0.7% | 390.74 | -2.6% |
| Tax expense | 103.89 | 128.04 | -18.9% | 118.82 | -12.6% |
| Net profit margin | 3.65% | 3.76% | -0.11 pp | 4.68% | -1.03 pp |
| EPS, basic (₹) | 4.62 | 4.07 | +13.5% | 5.52 | -16.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income grew faster than profit. Total income rose 16.8% YoY, while net profit rose 13.3% and profit before tax rose only 2.6%. The year-ago quarter carried exceptional items of ₹180.04 crore, deducted before tax, and the notes place ₹176.47 crore of Enschede restructuring costs in that quarter, so the comparison base is high on profit before tax.
Tax expense fell 18.9% YoY to ₹103.89 crore and finance costs fell 6.7% to ₹94.24 crore. Finance costs are 1.2% of total income this quarter, and the tax charge is 26.2% of profit before tax of ₹396.18 crore. Other income of ₹42.36 crore is 10.7% of profit before tax.
Net profit fell 16.2% QoQ while total income rose 7.4%. The June quarter also had an exceptional item: the notes say the company received ₹24.74 crore from IL&FS Financial Services as an interim distribution on deposits written off in earlier years, disclosed as an exceptional item. The September quarter's exceptional charge of ₹26.85 crore is the employee-related item the notes name, including ₹261.79 million of restructuring cost at Apollo Tyres Europe B.V.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,959.83 | 4,744.99 | +25.6% | 5,495.45 | +8.5% | |
| Revenue from operations | 5,921.66 | 4,714.91 | +25.6% | 5,461.87 | +8.4% |
| Other income | 38.17 | 30.08 | +26.9% | 33.58 | +13.7% |
| 275.72 | 277.19 | -0.5% | 304.25 | -9.4% | |
| Profit before tax | 376.33 | 429.98 | -12.5% | 407.95 | -7.8% |
| Finance costs | 77.97 | 83.28 | -6.4% | 76.16 | +2.4% |
| Depreciation | 237.82 | 233.85 | +1.7% | 227.86 | +4.4% |
| Tax expense | 100.61 | 152.79 | -34.2% | 103.70 | -3.0% |
| Net profit margin | 4.63% | 5.84% | -1.22 pp | 5.54% | -0.91 pp |
| EPS, basic (₹) | 4.36 | 4.37 | -0.2% | 4.81 | -9.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 25.6% YoY, but net profit fell 0.5% and profit before tax fell 12.5% to ₹376.33 crore. Tax expense fell 34.2% to ₹100.61 crore, which is 26.7% of profit before tax; the year-ago tax charge was ₹152.79 crore.
Depreciation rose 1.7% to ₹237.82 crore, while finance costs fell 6.4% to ₹77.97 crore. Other income of ₹38.17 crore is 10.1% of profit before tax and 0.6% of total income.
Against the June quarter, standalone total income rose 8.5% but net profit fell 9.4%. The standalone exceptional item of ₹0.67 crore is the employee re-organisation payment named in the notes, which the notes say was ₹6.74 million for the quarter.
Inference
The filing says the board approved raising up to ₹1,000 crore through non-convertible debentures in one or more private placement tranches, subject to shareholder approval by postal ballot. At 30 Sep 2026 NCDs of ₹1,250 crore and commercial papers of ₹250 crore were outstanding, and the consolidated debt equity ratio was 0.25 times.
The board appointed Ravi Kumar Shingari as Chief Financial Officer with effect from 4 Nov 2026, on the recommendation of the Nomination and Remuneration Committee and the Audit Committee. The filing says he joined the company in 2018 after more than 16 years at KPMG India.
The statutory auditors' certificate reports no exception on the 125% security cover, a net debt to EBITDA of 1.23 against a covenant of 3.5, and a DSCR of 4.64 against 1.1. Not stated: the timing and terms of the NCD issue, and the effect of the Enschede plant discontinuation on results.
Filed with BSE on . Reference: Original filing (PDF)
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