APOLLO TYRES Results Analysis-Q4FY26

$APOLLOTYRE Operating Revenue for Q4FY26 is Rs. 7,336 Crs. 14.2% growth YoY, Total Income is Rs. 7,371 Crs., 14.26% growth YoY, Gross Profit is Rs. 3,446 Crs., 23.55% growth YoY, EBITDA is Rs. 1,069 Crs., 27.63% growth YoY, EBITDA Margin is 14.57% improved by 153 Basis points YoY, But PBT Rs. 162 Crs. 37.8% Negative growth YoY (due to exceptional items), PAT Rs. 44 Crs. 222.74% growth (due to reversal of deferred tax) YoY. On QoQ basis Op. Revenue is down by 5.26%, Total Income is down by 5.41%, Gross Profit is down by 1%, EBITDA is also down by 9.88%, PBT is down by 77.65% but PAT is up by 34.1% (due to reversal of deferred tax). Net debt/EBITDA (consol) improved to 0.4x (from 0.7x at FY25 end; and from ~3.2x in Mar’20 per MD). Management emphasized “ample financial strength.” Management explicitly guided near-term margin pressure from raw material/energy/logistics, mitigated via calibrated pricing and cost control. FY27 Capex: INR 35bn, with ~80% toward growth/capacity expansion.