Apollo Tyres reports strong Q2 FY226 earnings growth

Apollo Tyres reported a consolidated revenue of INR 68,311 million for Q2 FY26, a 6.1% year-over-year increase. Consolidated EBITDA rose by 16.3% to INR 10,207 million, with margins improving by 130 basis points to 14.9%. For the year-to-date FY26, consolidated revenue reached INR 133,918 million (+4.9% YoY), and EBITDA stood at INR 18,885 million (+5.7% YoY), with margins at 14.1%. The company maintained a healthy Net Debt / EBITDA ratio of 0.8x for both Q2 and YTD FY26.

India operations showed robust performance, with Q2 FY26 revenue at INR 47,149 million (+5.7% YoY) and EBITDA margins at 15.3%, a notable 321 bps increase year-over-year. The company highlighted strong demand recovery, boosted by GST rationalization and export growth, alongside its successful product premiumization strategy and highest-ever Vredestein volumes.

In Europe, Q2 FY26 revenue increased by 3.8% year-over-year to € 177 million, despite economic and geopolitical uncertainties. The premiumization strategy continued, with UHP mix reaching 49% in the quarter. Although YoY EBITDA margins declined to 12.7% (-213 bps), a sequential improvement of 192 bps was observed. The company anticipates improved operating performance with demand recovery and a focus on cost optimization.