Tyre manufacturing company Apollo Tyres reported a 13.3% year-on-year increase in net profit to ₹292.2 crore for the second quarter, compared with ₹258 crore in the corresponding quarter last year. Revenue from operations grew 16.6% to ₹7,968.1 crore from ₹6,831 crore in Q2 of the previous financial year.
However, operating performance remained under pressure, with EBITDA declining 16.2% year-on-year to ₹855 crore from ₹1,020 crore. EBITDA margin contracted to 10.7% from 14.9% in the year-ago quarter.
The company’s EBITDA declined despite growth in revenue, while net profit increased during the quarter.
Separately, Apollo Tyres has appointed Ravi Kumar Shingari as the Chief Financial Officer (CFO) of the company, with effect from November 4, 2026.
Plans to raise up to ₹1,000 crore through NCDs
The company’s board has also proposed raising funds of up to ₹1,000 crore through the issuance of non-convertible debentures (NCDs).
The proposed NCD issuance will be undertaken through private placement in one or more tranches, within the borrowing limits approved by shareholders under Section 180(1)(c) of the Companies Act, 2013.
The fundraise is subject to shareholder approval through a postal ballot. The company said further details under Regulation 30 of the Listing Regulations would be provided after finalisation by the board or its committee.
Stock performance
Shares of Apollo Tyres closed 1.58% higher at ₹402.55 on the NSE on November 4, ahead of the company’s earnings announcement.
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