Apollo Tyres Ltd(APOLLOTYRE)

NSE: APOLLOTYREBSE: 500877

₹ 388.75+1.13%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 24,690 crWebsite: www.apollotyres.comUpdated: 27 Oct 2026

About

Apollo Tyres Ltd. manufactures and sells tyres under the Apollo and Vredestein brands across passenger car, truck/bus, off-highway, two-wheeler, and bicycle categories, supplying to over 100 countries worldwide. In FY26 the company reported consolidated revenue of Rs 28,470.6 Cr, with APMEA (India and adjacent markets) contributing 63.2% of revenue and Europe 27.7%. Apollo holds a leadership position in India's passenger vehicle replacement market and a strong position in the Truck Bus Radial segment.^[1][2]

Business segments

APMEA was 63.2% of segment revenue in FY26 (Rs 20,206.26 Cr), up 4.2 percentage points over FY2018-FY2026.^[2]
Europe was 27.7% of segment revenue in FY26 (Rs 8,855.83 Cr), up 2.2 percentage points over FY2018-FY2026.^[2]
Others was 9.1% of segment revenue in FY26 (Rs 2,907.45 Cr), down 6.4 percentage points over FY2018-FY2026.^[2]
In FY25 the company restructured into a Commercial Organisation focused on India, Europe and North America and launched a transformation initiative.^[3]

Products and brands

Portfolio spans passenger car radial (PCR), truck & bus radial (TBR), LCV, off-highway (farm and industrial), two-wheeler, and bicycle tyres sold under Apollo Tyres and Vredestein Tyres brands.^[4]
Vredestein secured OEM fitments on BMW X3, Mercedes E-Class, BMW 2 Series, MG, and VinFast models in FY26.^[4]
Europe PCR ultra-high-performance (UHP) mix reached 50% in Q4 FY26, up from 48% in Q4 FY25, and 52% in Q3 FY26 driven by winter tyre seasonality.^[5]
Truck tyres have been launched in Europe and the US (FY25).^[3]
Apollo Tyres became Lead Sponsor of Team India cricket under a 3-year partnership with BCCI, with its logo on the official jersey.^[4]

Manufacturing and R&D

Six manufacturing facilities as of FY26: Chennai (Tamil Nadu), Perambra and Kalamassery (Kerala), Chinnapandur (Andhra Pradesh), Limda (Gujarat), and Gyöngyöshalász (Hungary).^[4]
Enschede (Netherlands) plant stopped production as planned on June 30, 2026; restructuring benefits expected from H2 FY27.^[6]
Two global R&D centres; 270+ active patents and 400+ design registrations; 18 patent applications and 43 design registrations filed in FY26.^[4]
Outdoor testing facility inaugurated at NATRAX; winter test facility opened at Ivalo, Finland in January 2026.^[4]

Key operating metrics

India capacity utilisation ~91% in Q1 FY27, up from the high-80s in Q3 FY26 and ~90% in Q4 FY26; TBR near 100% in Q3 FY26.^[6]
Europe capacity utilisation: 94% in Q1 FY27.^[6]
India revenue hit an all-time high of INR 54.6 Bn in Q1 FY27, up 15.6% YoY and 4.3% QoQ; replacement +13%, OEM +10%, exports +15%.^[6]
TBR replacement market share (internal estimate) above 30% in Q1 FY27, from ~29% in Q2 FY26 and ~30% in Q3 FY26; PCR replacement share above 21% in Q1 FY27.^[6]
Natural rubber basket in India at INR 225/kg in Q1 FY27 vs INR 195/kg in Q3 FY26; India raw material costs rose ~17% sequentially in Q1 FY27.^[6]
Raw material costs rose 11% in FY25 after a 12% fall in FY24, driven by natural rubber, crude-based materials and a weaker INR.^[3]
ReifenCom (online tyre retail) revenue was EUR 43 Mn in Q1 FY27.^[6]

Customers and distribution

Customers include OEMs, replacement dealers and retailers, fleet operators, export customers, and specialty customers in agriculture, mining and construction.^[4]
Products sold in over 100 countries under Apollo Tyres and Vredestein Tyres brands.^[4]
B2B digital platform scaled across India and Europe in FY26, adding sub-dealer warranty registration and last-mile shipment tracking.^[4]

Expansion and capex

Capex outflow was ₹14.03 Bn in FY26 vs ₹7.69 Bn in FY25.^[4]
Board approved INR 5,800 Cr capex for the Andhra Pradesh plant over FY27-FY29, adding ~350 TPD (~17-18% to India PCR, 20%+ to TBR).^[7]
AP expansion expected to start coming on stream towards end of FY27 and ramp through FY28.^[6]
Hungary PCR capacity to expand from 17,000 to 21,000 tyres/day, with production starting H2 FY27.^[6]
FY27 consolidated capex planned at INR 3,500 Cr (~80% growth); India spent INR 500 Cr in Q1 FY27.^[5]
Enschede restructuring total cash cost EUR 55 Mn with approximately 2-year payback.^[8]

Recent developments

CFO Gaurav Kumar resigned effective October 6, 2026.^[9]
European anti-dumping duties on Chinese tyres announced; expected to benefit Apollo-brand PCR volumes at the lower end of the European market (Q1 FY27).^[6]
Moved to the concessional 25% corporate tax regime from FY27, with a one-time deferred tax liability reversal of ~INR 570 Cr in FY26.^[5]
Net-zero emissions target across the value chain by FY50, validated by SBTi (FY26).^[4]
Achieved 100% tyre-level barcode traceability across multiple categories in FY26, across radial and bias segments.^[4]
Implementing SAP S/4HANA, SuccessFactors, Salesforce and o9 Solutions in a major technology transformation programme (FY26).^[4]

Market Cap

₹24,690 Cr

High / Low

₹540 / 365

Stock P/E

14.3

Price / Book

1.5

Book Value

₹263

EPS

₹21.6

No. of Shares

63.51 Cr

ROCE

13.8%

ROE

8.7%

OPM

9.6%

Debt / Equity

0.16

Sales

₹28,471 Cr

Net Profit

₹1,372 Cr

Promoter holding

36.9%

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Apollo Tyres Ltd(APOLLOTYRE)

About

Business segments

Products and brands

Manufacturing and R&D

Key operating metrics

Customers and distribution

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

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