APOLLOTYRE

Apollo Tyres Limited

Tyre manufacturer of passenger vehicle, truck and bus, and farm tyres

Consumer Discretionary›Automobile and Auto Components›Auto Components›Tyres & Rubber Products

apollotyres.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹416.75
Market cap
26,339 Cr
Stock P/E
15.4
P/B
1.58
Dividend yield
2.0%
ROE (FY26)
8.2%
ROCE (FY26)
8.8%
Operating margin (FY26)
9.1%
Debt / equity (FY26)
0.16
OCF / EBITDA (FY26)
88.5%
OCF / EBITDA (3Y)
73.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Apollo Tyres makes passenger car, truck and bus, and agricultural tyres and sells them in India, Europe and export markets through replacement, vehicle-maker (OEM) and export channels, under brands that include Apollo and Vredestein.

Company snapshot

3rdBy market cap

Ranked among 8 companies in Tyres & Rubber Products.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 70.9% of revenue

SegmentRevenue shareRevenuePBTAssets
APMEA
70.9%
4,566 Cr345 Cr18,526 Cr
Europe
30.0%
1,929 Cr114 Cr8,698 Cr
Others
26.4%
1,701 Cr65 Cr2,102 Cr

Shares add up to 127% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.16x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales6,280 Cr6,595 Cr6,258 Cr6,335 Cr6,437 Cr6,928 Cr6,424 Cr6,561 Cr6,831 Cr7,743 Cr7,336 Cr7,398 Cr
Operating expenses (approx.)5,120 Cr5,387 Cr5,230 Cr5,426 Cr5,559 Cr5,981 Cr5,586 Cr5,693 Cr5,810 Cr6,557 Cr6,267 Cr6,530 Cr
EBITDA1,160 Cr1,208 Cr1,028 Cr909 Cr878 Cr947 Cr837 Cr868 Cr1,021 Cr1,186 Cr1,069 Cr868 Cr
OPM %18.5%18.3%16.4%14.4%13.6%13.7%13.0%13.2%14.9%15.3%14.6%11.7%
Other income25 Cr18 Cr74 Cr31 Cr22 Cr8 Cr28 Cr19 Cr30 Cr50 Cr35 Cr58 Cr
Interest133 Cr123 Cr115 Cr107 Cr120 Cr111 Cr109 Cr101 Cr101 Cr100 Cr90 Cr91 Cr
Depreciation360 Cr368 Cr388 Cr370 Cr376 Cr376 Cr377 Cr378 Cr383 Cr385 Cr397 Cr391 Cr
Profit before tax680 Cr721 Cr563 Cr423 Cr399 Cr465 Cr260 Cr38 Cr386 Cr723 Cr162 Cr468 Cr
Tax %30.3%31.1%37.1%28.6%25.4%27.4%29.0%66.4%33.2%34.9%-290.3%25.4%
Net profit474 Cr497 Cr354 Cr302 Cr297 Cr337 Cr185 Cr13 Cr258 Cr471 Cr631 Cr349 Cr
EPS (₹)₹7.47₹7.82₹5.58₹4.76₹4.68₹5.31₹2.91₹0.20₹4.07₹7.43₹9.97₹5.52

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales14,170 Cr15,095 Cr17,549 Cr16,327 Cr17,397 Cr20,948 Cr24,568 Cr25,378 Cr26,123 Cr28,471 CrSign in free for the trailing twelve months
Operating expenses (approx.)12,321 Cr13,444 Cr15,590 Cr14,411 Cr14,600 Cr18,373 Cr21,254 Cr20,930 Cr22,552 Cr24,327 CrSign in free for the trailing twelve months
EBITDA1,849 Cr1,651 Cr1,959 Cr1,916 Cr2,797 Cr2,574 Cr3,314 Cr4,447 Cr3,572 Cr4,143 CrSign in free for the trailing twelve months
OPM %13.0%10.9%11.2%11.7%16.1%12.3%13.5%17.5%13.7%14.6%Sign in free for the trailing twelve months
Other income152 Cr117 Cr123 Cr47 Cr129 Cr123 Cr41 Cr154 Cr88 Cr133 CrSign in free for the trailing twelve months
Interest103 Cr163 Cr181 Cr281 Cr443 Cr444 Cr531 Cr506 Cr447 Cr391 CrSign in free for the trailing twelve months
Depreciation462 Cr593 Cr813 Cr1,138 Cr1,315 Cr1,400 Cr1,419 Cr1,478 Cr1,498 Cr1,543 CrSign in free for the trailing twelve months
Profit before tax1,436 Cr1,012 Cr888 Cr543 Cr561 Cr848 Cr1,427 Cr2,540 Cr1,547 Cr1,309 CrSign in free for the trailing twelve months
Tax %23.4%28.5%23.5%12.3%37.6%24.7%22.6%32.2%27.5%-4.8%Sign in free for the trailing twelve months
Net profit1,099 Cr724 Cr680 Cr476 Cr350 Cr639 Cr1,105 Cr1,722 Cr1,121 Cr1,372 CrSign in free for the trailing twelve months
EPS (₹)₹21.59₹13.43₹11.88₹8.33₹5.68₹10.06₹17.39₹27.11₹17.66₹21.66Sign in free for the trailing twelve months
Dividend payout %————0.0%34.8%18.7%16.6%34.0%39.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital51 Cr57 Cr57 Cr57 Cr64 Cr64 Cr64 Cr64 Cr64 Cr64 Cr
Reserves7,239 Cr9,719 Cr9,983 Cr9,873 Cr11,380 Cr11,689 Cr12,814 Cr13,839 Cr14,702 Cr16,652 Cr
Borrowings3,245 Cr4,446 Cr4,541 Cr6,580 Cr5,112 Cr6,118 Cr5,588 Cr3,942 Cr3,377 Cr2,632 Cr
Other liabilities4,762 Cr5,931 Cr5,463 Cr6,740 Cr9,509 Cr8,835 Cr8,894 Cr9,113 Cr9,163 Cr9,893 Cr
Total liabilities15,296 Cr20,153 Cr20,044 Cr23,250 Cr26,063 Cr26,705 Cr27,359 Cr26,957 Cr27,306 Cr29,240 Cr
Fixed assets (net)6,038 Cr9,529 Cr10,884 Cr14,496 Cr15,435 Cr16,638 Cr16,685 Cr15,141 Cr14,576 Cr14,547 Cr
CWIP2,872 Cr2,268 Cr1,520 Cr1,622 Cr1,107 Cr618 Cr199 Cr283 Cr325 Cr918 Cr
Investments396 Cr1,342 Cr6 Cr19 Cr110 Cr491 Cr436 Cr532 Cr45 Cr62 Cr
Inventories2,646 Cr2,945 Cr3,484 Cr3,207 Cr3,319 Cr4,155 Cr4,428 Cr4,246 Cr5,131 Cr5,452 Cr
Trade receivables1,127 Cr1,435 Cr1,155 Cr940 Cr1,381 Cr1,610 Cr2,489 Cr2,665 Cr3,062 Cr3,191 Cr
Cash & bank331 Cr593 Cr555 Cr739 Cr971 Cr871 Cr836 Cr912 Cr886 Cr1,029 Cr
Other assets1,886 Cr2,040 Cr2,440 Cr2,228 Cr3,742 Cr2,321 Cr2,286 Cr3,179 Cr3,280 Cr4,040 Cr
Total assets15,296 Cr20,153 Cr20,044 Cr23,250 Cr26,063 Cr26,705 Cr27,359 Cr26,957 Cr27,306 Cr29,240 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity902 Cr1,720 Cr1,071 Cr2,517 Cr2,447 Cr2,239 Cr2,134 Cr3,440 Cr1,823 Cr3,667 Cr
Cash from investing-2,952 Cr-3,863 Cr-996 Cr-2,796 Cr-2,344 Cr-1,181 Cr-476 Cr-711 Cr-202 Cr-1,341 Cr
Cash from financing1,895 Cr2,321 Cr-62 Cr472 Cr152 Cr-1,175 Cr-1,692 Cr-2,659 Cr-1,647 Cr-2,177 Cr
Net cash flow-209 Cr461 Cr-18 Cr173 Cr257 Cr-118 Cr-34 Cr70 Cr-26 Cr149 Cr
Free cash flow (OCF − Capex)-2,417 Cr-1,382 Cr-1,222 Cr-319 Cr1,257 Cr393 Cr1,360 Cr2,709 Cr1,055 Cr2,264 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.6%8.3%7.3%5.0%6.1%7.2%10.6%17.1%11.0%8.8%
ROE %15.1%7.4%6.8%4.8%3.1%5.4%8.6%12.4%7.6%8.2%
Debtor days29352421292837384341
Inventory days159145147166171138131140145150
Days payable10412195120145120100988189
Cash conversion cycle8459766755466980107102
OCF / EBITDA %48.8%104.1%54.7%131.4%87.5%87.0%64.4%77.3%51.0%88.5%
OCF / EBITDA % (3 years)——67.7%96.1%90.5%98.8%78.5%75.6%65.3%73.4%
Debt / equity0.450.450.450.660.450.520.430.280.230.16
Current ratio1.131.391.360.961.141.051.111.281.331.32
Net debt / EBITDA1.58—2.033.051.482.041.430.680.700.39