Apollo Tyres Q2 FY27: revenue up 16.6% to INR 79,682 Mn, EBITDA down 16.2% on raw material inflation
Q2 FY27 revenue up 16.6% to INR 79,682 Mn, but EBITDA down 16.2% to INR 8,554 Mn and margin down 421 bps to 10.7%.
By ScoutQuest · · 1 min read
- Consolidated revenue growth
- Q2 FY27 revenue up 16.6% to INR 79,682 Mn
- EBITDA and margin
- EBITDA down 16.2% to INR 8,554 Mn and margin down 421 bps to 10.7%
- Net debt
- Net debt rose to INR 33 Bn at Sep-26 from INR 16 Bn in FY26
- Period
- Q2 FY27 and H1 FY27
- Positioning
- Apollo Tyres presents itself as a global tyre maker with India at 69% and Europe at 26% of H1 FY27 consolidated revenue, and replacement demand at 78% of consolidated revenue.
📉 Q2 FY27 consolidated revenue rose 16.6% year on year to INR 79,682 Mn, but EBITDA fell 16.2% to INR 8,554 Mn and the EBITDA margin dropped 421 bps to 10.7%. Consolidated PAT was INR 2,921 Mn against INR 2,580 Mn a year earlier, a quarter that carried INR 1,800 Mn of exceptional items versus INR 269 Mn now, so the profit line is not a clean operating comparison.
📉 In India, standalone Q2 FY27 revenue grew 25.6% to INR 59,217 Mn, which the company says was its strongest year-on-year growth in 17 quarters, while India EBITDA margin fell 493 bps to 11.1% as raw material inflation offset cost control. Europe revenue fell 11.5% to EUR 157 Mn and its EBITDA margin slipped 240 bps to 10.3%.
🏭 H1 FY27 free cash flow was negative INR 14 Bn against INR 20 Bn in FY26, and capex was INR 15 Bn versus INR 14 Bn. Net debt rose to INR 33 Bn at Sep-26 from INR 16 Bn in FY26, taking net debt/EBITDA to 0.9x from 0.4x, which the company describes as remaining well within comfortable levels.
🔬 Management states the demand environment remains healthy and that it will undertake calibrated pricing actions to manage raw material inflation; it also lists sustained premiumisation through larger-rim PCR tyres and Vredestein, new product launches and wider distribution, plus operational stabilisation and profitable growth in Europe.
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More numbers
- Revenue, Q2 FY27 consolidatedINR 79,682 Mn
- EBITDA, Q2 FY27 consolidatedINR 8,554 Mn
- EBITDA margin, Q2 FY27 consolidated10.7%
- PAT, Q2 FY27 consolidated2,921 (INR Mn)
- Revenue, H1 FY27 consolidatedINR 153,659 Mn
- EBITDA margin, H1 FY27 consolidated11.2%
- India revenue, Q2 FY27 standalone59,217 (INR Mn)
- India EBITDA margin, Q2 FY27 standalone11.1%
- Europe revenue, Q2 FY27157 (EUR Mn)
- Free cash flow, H1 FY27-14 (INR Bn)
- Net debt, Sep-2633 (INR Bn)
- Net debt to EBITDA, Sep-260.9x
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