Major Estimate Revision • May 21
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2027 has been updated. 2027 revenue forecast increased from ₹309.5b to ₹317.9b. EPS estimate fell from ₹32.21 to ₹25.66 per share. Net income forecast to grow 18% next year vs 23% growth forecast for Auto Components industry in India. Consensus price target down from ₹534 to ₹476. Share price fell 7.4% to ₹372 over the past week. Price Target Changed • May 18
Price target decreased by 9.9% to ₹481 Down from ₹534, the current price target is an average from 23 analysts. New target price is 28% above last closing price of ₹375. Stock is down 23% over the past year. The company is forecast to post earnings per share of ₹25.99 for next year compared to ₹21.66 last year. Reported Earnings • May 15
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹21.66 (up from ₹17.66 in FY 2025). Revenue: ₹286.0b (up 9.5% from FY 2025). Net income: ₹13.7b (up 22% from FY 2025). Profit margin: 4.8% (up from 4.3% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 05
Apollo Tyres Limited to Report Q4, 2026 Results on May 14, 2026 Apollo Tyres Limited announced that they will report Q4, 2026 results on May 14, 2026 Reported Earnings • Feb 05
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹7.43 (up from ₹5.31 in 3Q 2025). Revenue: ₹77.9b (up 13% from 3Q 2025). Net income: ₹4.71b (up 40% from 3Q 2025). Profit margin: 6.0% (up from 4.9% in 3Q 2025). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 8.4%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jan 23
Apollo Tyres Limited to Report Q3, 2026 Results on Feb 04, 2026 Apollo Tyres Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 04, 2026 Price Target Changed • Nov 17
Price target increased by 7.3% to ₹559 Up from ₹521, the current price target is an average from 23 analysts. New target price is 8.8% above last closing price of ₹514. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of ₹24.77 for next year compared to ₹17.66 last year. Reported Earnings • Nov 15
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: ₹4.07 (down from ₹4.68 in 2Q 2025). Revenue: ₹68.6b (up 6.6% from 2Q 2025). Net income: ₹2.58b (down 13% from 2Q 2025). Profit margin: 3.8% (down from 4.6% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 45%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Nov 08
Apollo Tyres Limited to Report Q2, 2026 Results on Nov 13, 2025 Apollo Tyres Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ₹27.28 to ₹24.47 per share. Revenue forecast steady at ₹278.8b. Net income forecast to grow 95% next year vs 28% growth forecast for Auto Components industry in India. Consensus price target down from ₹523 to ₹508. Share price was steady at ₹432 over the past week. New Risk • Aug 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Announcement • Aug 02
Apollo Tyres Limited to Report Q1, 2026 Results on Aug 07, 2025 Apollo Tyres Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Announcement • Jul 18
Apollo Tyres Limited Appoints R Mahalakshmi as Chief Human Resources Officer, Effective 18 July 2025 Apollo Tyres Limited has named R Mahalakshmi as its new chief human resources officer, effective 18 July 2025. Mahalakshmi has around three decades of experience across India, Africa, the UK and Southeast Asia. Mahalakshmi has served in senior HR leadership positions at Big 5 consulting firms and leadership roles across telecom, pharmaceutical and FMCG multinational corporations. She has served as head of HR for Southeast Asia at Mondelez International and earlier served as CHRO India, where she led the function across six countries and 10 manufacturing units. Mahalakshmi will be based at the company's headquarters in Gurugram, India, and will report to vice chairman and MD Neeraj Kanwar. Reported Earnings • Jul 12
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹17.66 (down from ₹27.11 in FY 2024). Revenue: ₹261.2b (up 2.9% from FY 2024). Net income: ₹11.2b (down 35% from FY 2024). Profit margin: 4.3% (down from 6.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 30 August 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.6%). Declared Dividend • Jun 22
Dividend reduced to ₹5.00 Dividend of ₹5.00 is 17% lower than last year. Ex-date: 11th July 2025 Payment date: 30th August 2025 Dividend yield will be 1.1%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 81% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 22
Apollo Tyres Limited announces Annual dividend, payable on August 30, 2025 Apollo Tyres Limited announced Annual dividend of INR 5.0000 per share payable on August 30, 2025, ex-date on July 11, 2025 and record date on July 11, 2025. Announcement • Jun 20
Apollo Tyres Limited, Annual General Meeting, Jul 31, 2025 Apollo Tyres Limited, Annual General Meeting, Jul 31, 2025, at 15:00 Indian Standard Time. Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹17.66 (down from ₹27.11 in FY 2024). Revenue: ₹262.1b (up 4.8% from FY 2024). Net income: ₹11.2b (down 35% from FY 2024). Profit margin: 4.3% (down from 6.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 10
Apollo Tyres Limited to Report Fiscal Year 2025 Results on May 14, 2025 Apollo Tyres Limited announced that they will report fiscal year 2025 results on May 14, 2025 Announcement • Apr 02
Apollo Tyres Limited Appoints Rajeev Kumar Sinha as Chief Manufacturing Officer, Effective April 2, 2025 Apollo Tyres Limited announced the Board of Directors through Circular Resolution passed on April 2, 2025, approved the Appointment of Mr. Rajeev Kumar Sinha as Chief Manufacturing Officer (CMO), a Senior Management Personnel of the Company, with effect from April 2, 2025. Further, consequent to the change in reporting structure pursuant to the aforesaid appointment, the Unit Heads of Plants in India will not form part of the senior management, as defined under Regulation 16 (1) (d) of SEBI
(Listing Obligations & Disclosure Requirements) Regulations, 2015, with effect from April 2, 2025. However, they will continue as Unit Head of their respective plants reporting to CMO. Mr. Rajeev Kumar Sinha Is A Senior Business Leader with More Than 35 Years of Experience Including Leading Large, Geographically Dispersed and Functionally Diverse Teams, Across Multiple Geographies/Cultures /Industries, Having Worked with Organisation Like Cipla, Glenmark, Pepsico, Cadbury, Amongst Others. in Cipla, He Was in the Role of the Global Chief Manufacturing Operations, Responsible to Provide Global Manufacturing Operations Strategic Framework and Support the Development/Execution of Enterprise Strategy, Responsible for the Manufacturing Capital, Natural Capital Custodian of the Global Manufacturing Operations Resources, Talent & Capabilities. Prior to Cipla, Rajeev Has Worked in the Capacity of Executive Vice President & Global Head Formulations Operations and Executive Vice President & Global Head Manufacturing Formulations At Glenmark and Senior Director Sc Operations Productivity & Performance, Director Operations Productivity & Sustainability and Director Operations North Market Unit for Pepsico. He Has Done His Mechanical Engineering from Iit Kanpur. Reported Earnings • Feb 07
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: ₹5.31 (down from ₹7.82 in 3Q 2024). Revenue: ₹69.4b (up 5.2% from 3Q 2024). Net income: ₹3.37b (down 32% from 3Q 2024). Profit margin: 4.9% (down from 7.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Announcement • Feb 06
Apollo Tyres Limited Appoints Parmeshwaran Iyer as Chief Supply Chain Officer Apollo Tyres Limited at its Board of Directors meeting held on February 6, 2025, approved the appointment of Mr. Parmeshwaran Iyer as Chief Supply Chain Officer, a Senior Management Personnel of the Company, with immediate effect based on the recommendation of the Nomination and Remuneration Committee. Date of Appointment: February 6, 2025 and Term: Full-time employment. Mr. Parmeshwaran Iyer is an astute Supply Chain Professional with 30 years of experience in the FMCG, Healthcare, Oil and White goods space with proven expertise in End-to-End planning, Procurement, Logistics and Customer Management. He was previously working with Beiersdorf AG for over 18 years with the group across Germany, UAE, Russia and India. In his last role, he was the Global Vice President - Digital Supply Chain, responsible for defining and implementing Digitalization initiatives in Supply Chain, across the group. Prior to leading the Digital Transformation role, he was the Global Vice President - Supply Chain Management, where he led the Global Competency team responsible for building capabilities in Planning, Logistics, Customer Service areas including S&OP, Cost to Serve, Logistics Excellence. He has also led the Regional Supply Chain within the group, including end-to-end Supply Chain Management in the Region comprising of 88 countries in Sub-Saharan Africa, Russia/CIS, and Southwest Asia (incl. India). Prior to Beiersdorf, he worked with Johnson & Johnson, TOTAL Energies India and Daikin Airconditioning. He has done his PGDBM in Material Management and has a Bachelor's degree in Physics from the University of Mumbai. Announcement • Jan 30
Apollo Tyres Limited to Report Q3, 2025 Results on Feb 06, 2025 Apollo Tyres Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Buy Or Sell Opportunity • Jan 14
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to ₹453. The fair value is estimated to be ₹373, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Buy Or Sell Opportunity • Nov 15
Now 23% overvalued Over the last 90 days, the stock has fallen 2.0% to ₹475. The fair value is estimated to be ₹387, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Nov 14
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: ₹4.68 (down from ₹7.47 in 2Q 2024). Revenue: ₹64.6b (up 2.9% from 2Q 2024). Net income: ₹2.97b (down 37% from 2Q 2024). Profit margin: 4.6% (down from 7.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 29% per year. Announcement • Nov 09
Apollo Tyres Limited to Report Q2, 2025 Results on Nov 13, 2024 Apollo Tyres Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Buy Or Sell Opportunity • Oct 29
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to ₹499. The fair value is estimated to be ₹412, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Aug 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹4.76 (down from ₹6.25 in 1Q 2024). Revenue: ₹63.3b (up 1.4% from 1Q 2024). Net income: ₹3.02b (down 24% from 1Q 2024). Profit margin: 4.8% (down from 6.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 32% per year. Announcement • Aug 02
Apollo Tyres Limited to Report Q1, 2025 Results on Aug 07, 2024 Apollo Tyres Limited announced that they will report Q1, 2025 results on Aug 07, 2024 Reported Earnings • Jul 07
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹27.11 (up from ₹16.47 in FY 2023). Revenue: ₹250.2b (up 3.7% from FY 2023). Net income: ₹17.2b (up 65% from FY 2023). Profit margin: 6.9% (up from 4.3% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 17
Dividend of ₹6.00 announced Shareholders will receive a dividend of ₹6.00. Ex-date: 5th July 2024 Payment date: 24th August 2024 Dividend yield will be 1.3%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 15
Apollo Tyres Limited, Annual General Meeting, Jul 25, 2024 Apollo Tyres Limited, Annual General Meeting, Jul 25, 2024, at 15:00 Indian Standard Time. Reported Earnings • May 15
Full year 2024 earnings released: EPS: ₹27.11 (vs ₹17.39 in FY 2023) Full year 2024 results: EPS: ₹27.11 (up from ₹17.39 in FY 2023). Revenue: ₹255.3b (up 5.8% from FY 2023). Net income: ₹17.2b (up 56% from FY 2023). Profit margin: 6.7% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Mar 27
Apollo Tyres Limited Announces Resignation of Vikram Garga as Group Head, Marketing (APMEA), Effective March 31, 2024 Apollo Tyres Limited announced that Mr. Vikram Garga, Group Head, Marketing (APMEA), a Senior Management Personnel of the Company has tendered his resignation from the services of the Company to be effective from the close of business hours on March 31, 2024 due to personal reasons. Announcement • Mar 22
Apollo Tyres Limited Announces Resignation of Robert Steinmetz as Non-Executive Non-Independent Director, Member of Audit Committee and Risk Management Committee of the Board Apollo Tyres Limited informed that Mr. Robert Steinmetz (DIN: 00178792) has tendered his resignation as a Non-Executive Non-Independent Director of the Company with effect from the close of business hours on March 21, 2024, due to personal reasons. Consequently, Mr. Robert Steinmetz shall also cease to be a Member of Audit Committee and Risk Management Committee of the Board with effect from the close of business hours on March 21, 2024. Price Target Changed • Feb 10
Price target increased by 9.5% to ₹518 Up from ₹473, the current price target is an average from 25 analysts. New target price is approximately in line with last closing price of ₹510. Stock is up 54% over the past year. The company is forecast to post earnings per share of ₹29.30 for next year compared to ₹17.39 last year. Reported Earnings • Feb 08
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ₹7.82 (up from ₹4.60 in 3Q 2023). Revenue: ₹66.1b (up 3.0% from 3Q 2023). Net income: ₹4.97b (up 70% from 3Q 2023). Profit margin: 7.5% (up from 4.5% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.5%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 14
Price target increased by 7.1% to ₹449 Up from ₹419, the current price target is an average from 27 analysts. New target price is 8.0% above last closing price of ₹415. Stock is up 40% over the past year. The company is forecast to post earnings per share of ₹28.32 for next year compared to ₹17.39 last year. Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: EPS: ₹7.47 (up from ₹3.06 in 2Q 2023). Revenue: ₹63.0b (up 5.9% from 2Q 2023). Net income: ₹4.74b (up 144% from 2Q 2023). Profit margin: 7.5% (up from 3.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth.