India · Delayed Price · Currency is INR Apollo Tyres Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw record revenue and strong double-digit growth in India, while Europe remained flat. EBITDA margin improved, net debt halved, and major CapEx was announced for capacity expansion. Demand outlook is robust, with stable pricing and raw material costs expected.
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Revenue grew 6% year-over-year with improved EBITDA margins, driven by strong replacement, OEM, and export demand, especially in India. European operations saw sequential recovery, while GST reforms and brand initiatives are expected to sustain growth momentum.
Fiscal Year 2025
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Q3 FY25 saw 8% sequential and 5% year-on-year revenue growth, with stable margins despite raw material cost pressures. India and Europe replacement segments drove gains, while CapEx is set to rise next year to address capacity constraints.
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Q2 FY25 saw modest revenue growth and margin pressure from higher raw material costs, but market share gains in key segments and strong European performance. Replacement demand is expected to accelerate, with margin recovery anticipated as RM costs ease in H2.