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Apollo Tyres

Q2 FY26Auto Components

Apollo Tyres Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹440
Market cap₹27.9K Cr
P/E13.1
Updated23 Aug 2026
Read4 min read

The short version

Q2 FY26 saw a 6% consolidated revenue growth YoY with strong domestic and export performance. Q3 margin expected to improve sequentially due to stable raw material costs and strong replacement demand, providing operating leverage.

From Apollo Tyres's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Q2 FY26 saw a 6% consolidated revenue growth YoY with strong domestic and export performance.
  • India expects continued healthy demand momentum in H2 FY26, supported by GST changes and infrastructure/mining rebounds.
  • Replacement demand anticipated to rise from current low levels to mid-to-high single-digit growth.
  • European volumes showed positive growth (4% YoY in Q2) with expectations of low single-digit growth ahead despite challenging conditions.
  • Exports grew in double digits in Q2; full-year export growth expected to reach high single digits.
  • Premiumisation efforts, particularly the Vredestein brand in India, are driving volume growth.
  • Capacity expansions in PCR segments (Hungary and Andhra Pradesh) are set to increase production from next fiscal year, supporting volume growth.
  • Overall, management is optimistic about maintaining or accelerating revenue and volume growth in both Indian and European markets for H2 FY26.

Profitability & Margins

See what Apollo Tyres said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • PCR capacity expansion is underway in Hungary with production expected to start from the next fiscal year.
  • Passenger car capacity expansion is also planned in Andhra Pradesh, on schedule.
  • Apollo's overall Capex plan for FY'26 remains unchanged, with more details expected after next year's budget cycle.
  • The company is prioritizing capacity expansion in passenger car segments in both India and Europe.
  • No major inorganic acquisitions recently, but Apollo may consider small to medium-sized, economically and strategically sensible acquisitions in the off-highway tyre (OHT) segment.
  • The Enschede plant closure in Europe is expected by end of June 2026, leading to improved profitability.
  • Capex and investments focus on profitable growth, free cash flow generation, and return ratios.

Top-ranked in Auto Components

Ranked on what management guided this quarter

5x potential
1Divgi Torq
Rev 1Mar 3
2OBSC Perfection
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 2Mar 1
5
Rev 2Mar 1
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Apollo Tyres said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript does not provide specific details on current or expected orderbook or pending orders for Apollo Tyres. However, some relevant points related to demand and operations include: - Demand outlook is positive with healthy momentum in H2 FY26 due to GST rationalisation and rebound in infrastructure and mining segments. - Replacement demand expected to move from current levels to mid-to-high single digits growth. - OEM demand shows some pickup, particularly in the truck segment; PCR OEM demand expected to improve gradually but not at high levels. - Capacity expansions underway in PCR segment in Hungary and Andhra Pradesh, with PCR expansion to come through towards end of next fiscal year. - Exports growth in double digits this quarter, aiming for high single-digit growth for the full year. - No direct commentary on orderbook or pending orders was provided in the call.

Apollo Tyres — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹7.3K Cr, net profit ₹631 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Apollo Tyres Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Apollo Tyres Q2 FY26 results?

Q2 FY26 saw a 6% consolidated revenue growth YoY with strong domestic and export performance. Q3 margin expected to improve sequentially due to stable raw material costs and strong replacement demand, providing operating leverage.

What is Apollo Tyres share price analysis?

Apollo Tyres currently shows a neutral. The stock trades at a P/E of 13.1 with a market cap of ₹27,925 Cr. Investors should review the full earnings analysis for detailed insights.

Is Apollo Tyres planning capital expenditure?

PCR capacity expansion is underway in Hungary with production expected to start from the next fiscal year.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.