Apollo Tyres stock trades steady as profit improves on lower raw material costs
Published on 07/19/2026 at 22:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Apollo Tyres stock is drawing attention after the Indian tire manufacturer Apollo Tyres Ltd. (ISIN INE404A01024) reported stronger profitability for fiscal 2024, supported by lower raw material costs and disciplined pricing, according to the companys latest investor information for the year ended 31 March 2024.
Margin improves in fiscal 2024
According to Apollo Tyres investor materials for fiscal 2024, the company generated consolidated revenue of around INR 20,000 crore for the year ended 31 March 2024, representing an increase compared with the prior year period and reflecting growth in key markets and product segments.
Across the same fiscal 2024 period, Apollo Tyres reported consolidated net profit of approximately INR 1,700 crore, markedly higher than the prior fiscal years net profit, with the improvement driven by better operating leverage, lower input costs, and a favorable product mix that included higher-margin passenger car radial and truck and bus radial tires.
The companys operating margin also improved in fiscal 2024 compared with the prior year, with the EBITDA margin rising by several percentage points as lower rubber and other raw material costs helped offset competitive pricing pressures in domestic and export markets.
Revenue up versus prior year
In its fiscal 2024 disclosures, Apollo Tyres indicated that consolidated revenue for the year ended 31 March 2024 grew by a high single-digit percentage compared with fiscal 2023, with growth led by the India operations and supported by European business resilience in replacement and premium segments.
On a quarterly basis, Apollo Tyres reported that revenue for the fourth quarter of fiscal 2024 reached roughly INR 5,000 crore, higher than the same quarter a year earlier, reflecting steady demand in commercial vehicle replacement tires and passenger car radials as the company continued to optimize its product portfolio and distribution footprint.
The companys net profit for the fourth quarter of fiscal 2024 was significantly above the prior-year quarter, highlighting that margin expansion and operating efficiencies have played an important role in supporting earnings even as volume growth has been moderate in some segments.
More on Apollo Tyres fundamentals
Investors who want to understand Apollo Tyres earnings trend, capital spending plans, and leverage metrics can review detailed tables and management commentary in the companys investor relations section.
Product mix and segment performance
Apollo Tyres highlighted in its recent investor information that revenue contributions from passenger vehicle tires and truck and bus radials increased in fiscal 2024, with these categories benefitting from improved replacement demand and premiumization trends in India and Europe.
The company also indicated that off-highway tires for agricultural and industrial applications contributed meaningfully to its overall revenue base, with steady order intake from global equipment manufacturers and replacement customers, although growth rates varied by region in fiscal 2024.
Management has emphasized that product development and branding investments in key lines, including passenger car radials and commercial vehicle radials, are intended to support mix improvement and pricing power, which in turn helps to sustain margins even when raw material costs begin to normalize.
Balance sheet and cash flow trends
According to the fiscal 2024 investor information, Apollo Tyres continued to invest in capacity expansion and modernization projects, with capital expenditures during the year focused on increasing radial tire capacity in India and supporting efficiency improvements at European manufacturing facilities.
The company reported a solid operating cash flow in fiscal 2024, supported by the higher profitability and careful working-capital management, allowing Apollo Tyres to reduce net debt compared with fiscal 2023 and improve leverage metrics such as net debt to EBITDA.
Apollo Tyres also maintained its dividend track record in fiscal 2024, with the board proposing a cash dividend per share that reflects the stronger earnings and the companys confidence in its medium-term growth outlook, while still preserving resources for future investment.
Apollo brand tires in focus
Apollo Tyres markets a wide range of products under the Apollo and Vredestein brands, including passenger car tires, SUV tires, truck and bus tires, light commercial vehicle tires, and off-highway tires for agriculture and industry, positioning the group as a diversified tyre manufacturer with a significant presence in India and Europe.
In the passenger vehicle tire segment, Apollo-branded tires are sold across major Indian cities and export markets through a mix of company-owned outlets, franchise dealers, and multi-brand retailers, backing the companys strategy to expand its footprint in replacement markets and capture demand from the growing car parc.
In Europe, Vredestein-branded premium tires aim at motorists seeking performance and safety, and Apollo Tyres has been investing in marketing and distribution to strengthen its competitive position in this region, with the goal that the European business contributes higher-margin revenue to the consolidated group over time.
Apollo Tyres stock and market context
Shares of Apollo Tyres are listed on Indian exchanges, and the company is part of the broader automotive and auto components sector universe that includes tire manufacturers and other suppliers to vehicle OEMs and replacement markets.
For investors tracking Apollo Tyres stock, the recent profitability improvement in fiscal 2024, the ongoing focus on product mix and brand development, and the companys efforts to manage capital expenditures and leverage provide key parameters for assessing the sustainability of earnings and cash flows over the coming periods.
As the tire industry continues to navigate evolving demand patterns, regulatory requirements, and input-cost dynamics, Apollo Tyres strategy of balancing growth investment with margin discipline will likely remain central to how the stock is perceived in the market.
Apollo Tyres at a glance
- Company: Apollo Tyres Ltd.
- ISIN: INE404A01024
- Ticker: NSE: APOLLOTYRE
- Trading venue: National Stock Exchange of India
- Sector / Industry: Automobiles and components / Tires
- Index membership: Broader Indian equity indices including auto component benchmarks
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