Interim report
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A APOLLO TYRES LTD APOLLO TYRES LTD 7 Institutional Area Sector 32 Gurugram 122001 , India T : +91 124 2383002 F : +91 124 2383021 apollotyres.com GST No .: 06AAACA6990Q1Z2 August 6 , 2026 ATL / SEC - 21 The Secretary , National Stock Exchange of India Ltd. , Exchange Plaza , Bandra - Kurla Complex , Bandra ( E ) , Mumbai - 400 051 The Secretary , BSE Ltd. Phiroze Jeejeebhoy Towers , Dalal Street , Mumbai 400001 . Dear Sirs , Sub : Outcome of Board Meeting held on August 6 , 2026 Pursuant to Regulation 30 of SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( " Listing Regulations " ) , we wish to inform you that the Board of Directors at its meeting held today , inter alia , considered and approved the following : ( a ) Un - audited Financial Results ( Standalone and Consolidated ) of the Company for the quarter ended June 30 , 2026 . ( b ) Resignation of Mr. Gaurav Kumar ( DIN : 10196754 ) as a Whole - time Director of the Company and consequently as a member of Risk Management Committee of the Board with effect from the close of business hours on August 6 , 2026 , to pursue new personal and professional challenges outside the organization . He has confirmed that there is no other material reason other than the one mentioned in his letter . He will continue as Chief Financial Officer for such period as may be necessary to ensure a smooth transition . Details as required in terms of Regulation 30 of the Listing Regulations , as amended , read with SEBI Master Circular no . HO / 49 / 14 / 14 ( 7 ) 2025 - CFD - POD2 / I / 3762 / 2026 dated January 30 , 2026 are enclosed as Annexure A. Pursuant to Regulation 33 of the Listing Regulations , please find enclosed herewith the Un - audited financial results ( consolidated & standalone ) for the quarter ended June 30 , 2026 and limited review reports for the said period issued by the Statutory Auditors of the Company . A Certificate of Security Cover pursuant to Regulation 54 of the Listing Regulations is also enclosed . In terms of Regulation 47 of the Listing Regulations , the extract of the Un - audited Consolidated Financial Results for the quarter ended June 30 , 2026 along with the QR code shall be published in the Newspapers . apollo TYRES VREDESTEIN TYRES Registered Office : Apollo Tyres Ltd. 3rd Floor , Areekal Mansion , Panampilly Nagar , Kochi 682036 , India CIN : L25111KL1972PLC002449 , Tel No. +91 484 4012046 , Fax No. +91 484 4012048 , Email : investors@apollotyres.com
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Registered Office: Apollo Tyres Ltd. 3rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036, India CIN: L25111KL1972PLC002449, Tel No. + 91 484 4012046, Fax No. +91 484 4012048, Email:investors@apollotyres.com The full format of the financial results shall be available on the website of the Stock exchanges where equity shares of the Company are listed i.e. www.nseindia.com and www.bseindia.com and on Company’s website www.apollotyres.com. There are no issue proceeds pending for utilisation and no deviation or variation in use of issue proceeds for the Non-Convertible Debentures issued. Accordingly, Regulation 52(7) and 52(7A) are not applicable for the quarter. The meeting of the Board of Directors commenced at 3:30 PM and concluded at 4:40 PM. Kindly take the same on your record. Thanking you, Yours faithfully, For Apollo Tyres Ltd. (Seema Thapar) Company Secretary & Compliance Officer .A APOLLO f-l" TYRESLTD GP.ollo TYRf:'S vtEDESTEIN APOLLO TYRES LTD 7 lnstltutlonal Area Sector 32 Guru11ram 122001, India T:•91124 2383002 F: +91124 2383021 apollotvres.com GST No.: 06AAACA6990Q1Z2
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Registered Office: Apollo Tyres Ltd. 3rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036, India CIN: L25111KL1972PLC002449, Tel No. + 91 484 4012046, Fax No. +91 484 4012048, Email:investors@apollotyres.com Annexure A Information as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 Information about Change in Director/Senior Management/Key Managerial Personnel – Mr. Gaurav Kumar Particulars Details 1) Reason for Change viz. appointment, re-appointment, resignation, removal, death or otherwise Mr. Gaurav Kumar (DIN: 10196754) has tendered his resignation as a Whole-time Director of the Company with effect from the close of business hours on August 6, 2026, to pursue new personal and professional challenges outside the organization. Mr. Gaurav Kumar will continue to discharge his duties as Chief Financial Officer for such period as may be necessary to ensure a smooth transition. After such period, consequent to his resignation, he will cease to be the part of Senior Management/ Key Managerial Personnel. Copy of resignation letter is attached. 2) Date of appointment/ re appointment/cessation & term of appointment/re-appointment. Mr. Gaurav Kumar (DIN: 10196754) will cease to be Whole-time Director with effect from the close of business hours on August 6, 2026. Mr. Gaurav Kumar will continue to discharge his duties as Chief Financial Officer for such period as may be necessary to ensure a smooth transition. After such period, he will cease to be the part of Senior Management/ Key Managerial Personnel. 3) Brief Profile (In case of Appointment) Not Applicable 4) Disclosure of relationships between Directors (In case of appointment of a Director) Not Applicable .A APOLLO f-l" TYRESLTD GP.ollo TYRf:'S vtEDESTEIN APOLLO TYRES LTD 7 lnstltutlonal Area Sector 32 Guru11ram 122001, India T:•91124 2383002 F: +91124 2383021 apollotvres.com GST No.: 06AAACA6990Q1Z2
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August 6, 2026 The Board of Directors, Apollo Tyres Ltd., Gurugram. Sub: Resignation from the position of Whole-time Director & CFO of the Company Dear Sirs, I hereby tender my resignation from the position of Whole-time Director of the Company to pursue new personal and professional challenges outside the organization and consequently as a member of Risk Management Committee of the Board with effect from the close of business hours on August 6, 2026. I confirm that there is no other material reason other than the one mentioned herein. However, I will continue to discharge my duties as Chief Financial Officer for such period as may be necessary to ensure a smooth transition. It has been an incredibly fulfilling journey for me, and I am grateful to Mr. Onkar Kanwar and Mr. Neeraj Kanwar for their unwavering support throughout my tenure of 22 + years with the Company. I also wish to thank my fellow Board of Directors and S enior Management team for their cooperation during my association with the Company. Thanking You, Yours Sincerely, Gaurav Kumar Chief Financial Officer & Whole-time Director (DIN: 10196754)
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Registered Office: Apollo Tyres Ltd. 3rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036, India CIN: L25111KL1972PLC002449, Tel No. + 91 484 4012046, Fax No. +91 484 4012048, Email: info.apollo@apollotyres.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 ₹ Million 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (UNAUDITED) (AUDITED) (refer note 5) (UNAUDITED) 1 Revenue from operations 73,977.90 73,356.74 65,607.59 2,84,706.00 2 Other income 583.31 352.21 188.94 1,334.05 3 Total income (1 + 2) 74,561.21 73,708.95 65,796.53 2,86,040.05 4 Expenses (a) Cost of materials consumed 40,895.95 34,803.29 32,828.85 1,32,219.96 (b) Purchase of stock-in-trade 5,516.66 6,049.12 6,502.00 24,786.54 (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (4,191.73) (1,956.86) (2,646.56) (1,470.35) (d) Employee benefits expense 9,627.98 8,848.43 8,695.51 35,415.59 (e) Finance costs 914.70 897.72 1,005.86 3,914.98 (f) Depreciation and amortisation expense 3,907.35 3,967.20 3,775.53 15,430.15 (g) Other expenses 13,449.35 14,924.72 11,550.33 52,321.93 Total expenses 70,120.26 67,533.62 61,711.52 2,62,618.80 5 Profit before share of profit in associate / joint venture, exceptional items and tax (3 - 4) 4,440.95 6,175.33 4,085.01 23,421.25 6 Share of profit in associate / joint venture 0.62 2.51 0.59 5.90 7 Profit before exceptional items and tax (5 + 6) 4,441.57 6,177.84 4, 085.60 23,427.15 8 Exceptional items (refer note 3) (235.36) 4,561.31 3,702.02 10,335.11 9 Profit before tax (7 - 8) 4,676.93 1,616.53 383.58 13,092.04 10 Tax expense (a) Current tax 1,131.21 1,516.28 520.75 4,236.94 (b) Deferred tax 57.00 (6,209.48) (265.95) (4,869.06) Total tax expense 1,188.21 (4,693.20) 254.80 (632.12) 11 Profit for the period / year (9 - 10) 3,488.72 6,309.73 128.78 13,724.16 12 Other comprehensive income / (loss) I i. Items that will not be reclassified to profit or loss a. Re-measurement gain / (loss) of defined benefit plans 27.95 257.27 (58.94) 209.38 ii. Income tax effect (7.03) (74.17) 20.61 (57.40) 20.92 183.10 (38.33) 151.98 II i. Items that will be reclassified to profit or loss a. Exchange differences in translating the financial statements of foreign operations 3,543.59 1,688.69 5,696.11 11,974.83 b. Effective portion of gain / (loss) on designated portion of hedging instruments in cash flow hedge - - 26.61 - ii. Income tax effect - - (9.30) - 3,543.59 1,688.69 5,713.42 11,974.83 Other comprehensive income / (loss) (I + II) 3,564.51 1,871.79 5,675.09 12,126.81 13 Total comprehensive income / (loss) for the period / year (11 + 12) 7,053.23 8,1 81.52 5,803.87 25,850.97 14 Paid-up equity share capital (equity shares of ₹ 1 each) 635.10 635.10 635.10 635.10 15 Paid up debt capital 27,150.54 26,317.13 29,802.94 26,317.13 16 Reserves excluding revaluation reserves 1,66,485.35 17 Earnings per equity share (face value of ₹ 1 each) (not annualised) (a) Basic (₹) 5.52 9.97 0.20 21.66 (b) Diluted (₹) 5.52 9.97 0.20 21.65 (See accompanying notes to the unaudited consolidated financial results) PARTICULARS QUARTER ENDED YEAR ENDED (AUDITED) ~ APOLLO ~ TYRES LTD ~EDESTEIN TYRES 7 Institutional Area Sector 32 Gurugram 12200 l, India T: +91 124 2383002 F: +91 124 2383021 apollotyres.com GSTNo.: 06AAACA6990Q1Z2 ~~~ -------
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₹ Million 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (UNAUDITED) (AUDITED) (refer note 5) (UNAUDITED) 1. Segment revenue APMEA 55,287.49 53,464.40 48,286.99 202,062.63 Europe 20,385.76 21,802.54 18,481.21 88,558.30 Others 2,298.12 2,255.72 11,390.04 29,074.53 Total segment revenue 77,971.37 77,522.66 78,158.24 319,695.46 Less: Inter segment revenue 3,993.47 4,165.92 12,550.65 34,989.46 Segment revenue 73,977.90 73,356.74 65,607.59 284,706.00 2. Segment results APMEA 4,824.25 6,117.01 4,235.22 21,285.64 Europe 151.77 1,431.50 481.10 5,539.78 Others 379.63 (475.46) 374.55 510.81 Total segment results 5,355.65 7,073.05 5,090.87 27,336.23 Less: Finance costs 914.70 897.72 1,005.86 3,914.98 Profit before share of profit in associate / joint- venture, exceptional items and tax 4,440.95 6,175.33 4,085.01 23,421.25 Share of profit in associate / joint venture 0.62 2.51 0.59 5.90 Less: Exceptional items (235.36) 4,561.31 3,702.02 10,335.11 Profit before tax 4,676.93 1,616.53 383.58 13,092.04 3. Segment assets APMEA 193,921.08 184,240.28 181,377.19 184,240.28 Europe 108,636.34 104,528.86 96,377.72 104,528.86 Others 11,175.98 11,129.57 17,626.85 11,129.57 313,733.40 299,898.71 295,381.76 299,898.71 Unallocable / eliminations (9,859.41) (7,501.54) (15,316.02) (7,501.54) Total segment assets 303,873.99 292,397.17 280,065.74 292,397.17 4. Segment liabilities APMEA 93,803.71 87,468.23 95,666.42 87,468.23 Europe 40,292.14 39,765.07 37,793.53 39,765.07 Others 4,968.36 5,091.87 8,589.91 5,091.87 139,064.21 132,325.17 142,049.86 132,325.17 Unallocable / eliminations (9,427.67) (7,079.67) (14,866.31) (7,079.67) Total segment liabilities 129,636.54 125,245.50 127,183.55 125,245.50 PARTICULARS QUARTER ENDED YEAR ENDED (AUDITED) CONSOLIDATED RESULTS Segment wise Revenue, Results, Assets and Liabilities
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YEAR ENDED 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (UNAUDITED) (AUDITED) (refer note 5) (UNAUDITED) (AUDITED) (a) Outstanding redeemable preference shares (₹ Million) - - - - (b) Debenture redemption reserve (₹ Million) 272.18 272.18 272.18 272.18 (c) Capital redemption reserve (₹ Million) 44.40 44.40 44.40 44.40 (d) Securities premium (₹ Million) 31,317.67 31,317.67 31,317.67 31,317.67 (e) Net worth (₹ Million) (share capital + other equity) 174,237.45 167,151.67 152,882.19 167,151.67 (f) Net profit after tax (₹ Million) 3,488.72 6,309.73 128.78 13,724.16 (g) Basic earnings per share (Not annualised) 5.52 9.97 0.20 21.66 (h) Diluted earnings per share (Not annualised) 5.52 9.97 0.20 21.65 (i) Debt equity ratio (in times) [Debt comprises non-current borrowings and current borrowings / equity] 0.16 0.16 0.19 0.16 (j) Long term debt to working capital (in times) [Non-current borrowings including current maturities / Net working capital excluding current maturities] 0.59 0.62 0.74 0.62 (k) Total debts to total assets ratio (in %) [(Non-current borrowings + current borrowings) / Total assets] 8.93% 9.00% 10.64% 9.00% (l) Debt service coverage ratio (in times) # [(Profit after tax** + interest expense excluding interest on lease liabilities + depreciation & amortisation expense excluding depreciation on right of use assets + exceptional items + loss/(gain) on sale of fixed assets + share of loss/(profit) in associate/joint venture) / (Gross interest excluding interest on lease liabilities + repayment of non- current borrowings)] 6.33 4.04 1.91 4.04 (m) Interest service coverage ratio (in times) [(Profit after tax** + interest expense excluding interest on lease liabilities + depreciation & amortisation expense excluding depreciation on right of use assets + exceptional items + loss/(gain) on sale of fixed assets + share of loss/(profit) in associate/joint venture) / Gross interest excluding interest on lease liabilities] 9.56 19.72 8.90 11.87 (n) Current ratio (in times) (Current assets / Current liabilities) 1.31 1.32 1.31 1.32 (o) Bad debts to account receivable ratio (in %) # [Bad debts / Average trade receivables] 0.10% 0.09% 0.07% 0.09% (p) Current liability ratio (in %) [Current liabilities / Total liabilities] 65.80% 64.54% 59.88% 64.54% (q) Debtors turnover (in times) # [Revenue from operations / Average trade receivables] 10.05 9.11 9.46 9.11 (r) Inventory turnover (in times) # [Revenue from operations / Average inventory] 5.08 5.38 5.39 5.38 (s) Operating margin (in %) [EBITDA* / Revenue from operations] * EBITDA = Profit before tax + depreciation & amortisation expense + interest expense + exceptional item + share of loss/(profit) in associate/joint venture - other income 11.73% 14.57% 13.23% 14.55% (t) Net profit margin (in %) [Profit after tax / Revenue from operations] 4.72% 8.60% 0.20% 4.82% # Based on TTM (Trailing Twelve Months) ** Profit after tax for the previous year ended March 31, 2026 includes reversal of defered tax liability on account of proposed adoption of the concessional tax regime. Additional disclosures as per Clause 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: S.NO. QUARTER ENDED PARTICULARS
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NOTES: 1 2 3 4 5 6 For and on behalf of the Board of Directors of Apollo Tyres Ltd Place: Gurugram ONKAR KANWAR Date: August 6, 2026 CHAIRMAN The above results were reviewed by the Audit Committee on August 5, 2026 and approved by the Board of Directors at its meeting held on August 6, 2026. c) During the year ended March 31, 2026, following the implementation of the New Labour Codes and the resultant changes in employee compensation and benefit structures, the Company recognised a one-time exceptional expense of ₹ 259.31 Million relating to employees' past services. a) The Company has carried out re-organisation exercise for its employees. The full and final amount paid to the employees who opted for this scheme aggregated to ₹ 12.00 Million for the quarter ended June 30, 2026, ₹ 9.47 Million for the quarter ended March 31, 2026, ₹ 17.28 Million for the quarter ended June 30, 2025 and ₹ 74.56 Million for year ended March 31, 2026, have been disclosed as an exceptional item. During the year ended March 31, 2026, following the enactment of the Finance Act, 2026, the Company elected to adopt the concessional tax regime under Section 200 of the Income-tax Act, 2025 from Tax Year 2026-27. Consequently, the applicable tax rate reduced from 34.94% to 25.17%. Accordingly, the Company remeasured its deferred tax balances using the revised tax rate and recognised a one-time deferred tax credit of ₹ 5,736.71 Million in the Statement of Profit and Loss for the quarter and year ended March 31, 2026. These unaudited consolidated financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act 2013 read with rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 (as amended) and in terms of regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 and other accounting principles generally accepted in India. The listed non-convertible debentures (NCDs) issued by the Company, aggregating to ₹ 7,500 Million as on June 30, 2026, are secured by a pari passu first charge by way of hypothecation on movable fixed assets of the Company, both present and future (except stocks and book debts). Out of the above, NCD's amounting to ₹ 5,000 Million carrying interest rate of 8.75% p.a (which are for 10 year bullet payment) also have exclusive charge on the immovable property of the Company's Registered office at Kochi. The asset cover thereof exceeds 125% of the principal amount of the said NCDs. d) On 25 April 2025, Apollo Tyres (NL) B.V. (“ATNL”), the Company's Netherlands-based subsidiary, submitted a Request for Advice (RfA) to the ATNL Works Council regarding the discontinuation of tyre production and related operations at its Enschede plant. The consultation with the Works Council was undertaken in accordance with the requirements of the Dutch Works Councils Act and other applicable local legal requirements in the Netherlands. As part of the impairment assessment in accordance with Ind AS 36 and the recognition of provisions in accordance with Ind AS 37, ATNL recognised impairment of certain assets and provision for closure related costs amounting to ₹ 4,551.84 Million during the quarter ended March 31, 2026. The total impact for the previous year ended March 31, 2026 aggregated to ₹ 10,001.24 Million (after including the cost of restructuring amounting to ₹ 5,449.40 Million, recognised as at September 30, 2025), which was disclosed as an exceptional item. During the current quarter, the production has been discontinued at Enschede plant. The payout for the closure is expected to happen in Financial Year 2026-27 as per the local legal requirements in Netherlands. The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the unaudited published year to date figures up to December 31, 2025 being the date of the end of third quarter of the previous financial year, which were subject to limited review. b) During the quarter ended June 30, 2026, the Company has received ₹ 247.36 Million from IL&FS Financial Services Ltd (“IL&FS”) as an interim distribution with respect to the unsecured short-term inter corporate deposits of ₹ 2,000 Million with IL&FS which has already been written off in earlier years. The same has been disclosed as an exceptional item in the results.
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Registered Office: Apollo Tyres Ltd. 3rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036, India CIN: L25111KL1972PLC002449, Tel No. + 91 484 4012046, Fax No. +91 484 4012048, Email: info.apollo@apollotyres.com ₹ Million 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (UNAUDITED) (AUDITED) (refer Note 6) (UNAUDITED) (AUDITED) 1 Revenue from operations 54,618.69 52,369.69 47,253.54 1,98,162.28 2 Other income 335.80 352.71 150.68 3,127.13 3 Total income (1 +2) 54,954.49 52,722.40 47,404.22 2,01,289.41 4 Expenses (a) Cost of materials consumed 35,978.33 29,728.09 27,916.84 1,12,615.19 (b) Purchase of stock-in-trade 3,019.91 2,916.02 2,543.70 10,349.29 (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (3,025.70) (1,018.73) (535.13) (308.59) (d) Employee benefits expense 3,425.88 3,319.12 3,240.93 13,179.50 (e) Finance costs 761.61 747.02 858.21 3,288.43 (f) Depreciation and amortisation expense 2,278.57 2,363.42 2,345.98 9,423.21 (g) Other expenses 8,671.77 9,784.57 7,639.81 33,567.43 Total expenses 51,110.37 47,839.51 44,010.34 1,82,114.46 5 Profit before exceptional items and tax (3 - 4) 3,844.12 4,882.89 3,393.88 19,174.95 6 Exceptional items (refer note 4) (235.36) 9.47 17.28 333.87 7 Profit before tax (5 - 6) 4,079.48 4,873.42 3,376.60 18,841.08 8 Tax ex p ense a. Current tax 936.57 880.26 579.73 3,312.45 b. Deferred tax 100.42 (5,040.57) 575.30 (2,989.06) Total tax expense 1,036.99 (4,160.31) 1,155.03 323.39 9 Profit for the period / year (7 - 8) 3,042.49 9,033.73 2,221.57 18,517.69 10 Other comprehensive income / (loss) I i. Items that will not be reclassified to profit or loss - Re-measurement gain/ (loss) on defined benefit plans 27.95 160.05 (59.06) 111.81 ii. Income tax effect (7.03) (45.00) 20.64 (28.14) 20.92 115.05 (38.42) 83.67 II i. Items that will be reclassified to profit or loss - Effective portion of gain / (loss) on designated portion of hedging instruments in cash flow hedge - - 26.61 - ii. Income tax effect - - (9.30) - - - 17.31 - Other comprehensive income / (loss) (I + II) 20.92 115.05 (21.11) 83.67 11 Total comprehensive income for the period / year (9 + 10) 3,063.41 9,148.78 2,200.46 18,601.36 12 Paid-up equity share capital (equity shares of ₹ 1 each) 635.10 635.10 635.10 635.10 13 Paid-up debt capital 23,418.62 23,257.22 25,324.43 23,257.22 14 Reserves excluding revaluation reserves 1,18,299.28 15 Earni ngs per equity share (face value of ₹ 1 each) (not annualised) (a) Basic (₹) 4.81 14.27 3.50 29.22 (b) Diluted (₹) 4.81 14.27 3.50 29.21 (See accompanying notes to the unaudited standalone financial results) UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 PARTICULARS QUARTER ENDED YEAR ENDED ~ APOLLO ~ TYRES LTD ap~f!! I ~EDESTEIN TYRES 7 Institutional Area Sector 32 Gurugram 122001, India T: +91 124 2383002 F: +91 124 2383021 apollotyres.com GSTNo.: 06AAACA6990Q 1 Z2
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YEAR ENDED 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (UNAUDITED) (AUDITED) (refer Note 6) (UNAUDITED) (AUDITED) (a) Outstanding redeemable preference shares (₹ Million) - - - - (b) Debenture redemption reserve (₹ Million) 272.18 272.18 272.18 272.18 (c) Capital redemption reserve (₹ Million) 44.40 44.40 44.40 44.40 (d) Securities premium (₹ Million) 31,317.67 31,317.67 31,317.67 31,317.67 (e) Net worth (₹ Million) [Share capital + other equity] 122,061.56 118,965.60 108,342.32 118,965.60 (f) Net profit after tax (₹ Million) 3,042.49 9,033.73 2,221.57 18,517.69 (g) Basic earnings per share (Not annualised) 4.81 14.27 3.50 29.22 (h) Diluted earnings per share (Not annualised) 4.81 14.27 3.50 29.21 (i) Debt equity ratio (in times) [Debt comprises non-current borrowings and current borrowings / equity] 0.19 0.20 0.23 0.20 (j) Long term debt to working capital (in times) [Non-current borrowings including current maturities / Net working capital excluding current maturities] 1.11 1.12 1.62 1.12 (k) Total debts to total assets ratio (in %) [(Non-current borrowings + current borrowings) / Total assets] 10.89% 11.33% 12.50% 11.33% (l) Debt service coverage ratio (in times) # [(Profit after tax** + interest expense excluding interest on lease liabilities + depreciation & amortisation expense excluding depreciation on right of use assets+ exceptional items + loss/(gain) on sale of fixed assets) / (Gross interest excluding interest on lease liabilities + repayment of non-current borrowings)] 5.29 3.20 1.70 3.20 (m) Interest service coverage ratio (in times) [(Profit after tax** + interest expense excluding interest on lease liabilities + depreciation & amortisation expense excluding depreciation on right of use assets + exceptional items + loss/(gain) on sale of fixed assets) / Gross interest excluding interest on lease liabilities] 8.11 18.01 6.61 10.31 (n) Current ratio (in times) (Current assets / Current liabilities) 1.21 1.24 1.16 1.24 (o) Bad debts to account receivable ratio (in %) [Bad debts / Average trade receivables] - - - - (p) Current liability ratio (in %) [Current liabilities / Total liabilities] 63.99% 60.81% 58.29% 60.81% (q) Debtors turnover (in times) # [Revenue from operations / Average trade receivables] 8.77 8.64 8.52 8.64 (r) Inventory turnover (in times) # [Revenue from operations / Average inventory] 6.04 6.47 6.92 6.47 (s) Operating margin (in %) [EBITDA* / Revenue from operations] * EBITDA = Profit before tax + depreciation & amortisation expense + interest expense + exceptional item - other income 11.99% 14.59% 13.64% 14.51% (t) Net profit margin (in %) [Profit after tax / Revenue from operations] 5.57% 17.25% 4.70% 9.34% # Based on TTM (Trailing Twelve Months) ** Profit after tax for the previous year ended March 31, 2026 includes reversal of defered tax liability on account of proposed adoption of the concessional tax regime. Additional disclosures as per Clause 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: S.No. PARTICULARS QUARTER ENDED
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NOTES: 1 2 3 4 5 6 7 For and on behalf of the Board of Directors of Apollo Tyres Ltd Place: Gurugram ONKAR KANWAR Date: August 6, 2026 CHAIRMAN b) During the quarter ended June 30, 2026, the Company has received ₹ 247.36 Million from IL&FS Financial Services Ltd (“IL&FS”) as an interim distribution with respect to the unsecured short-term inter corporate deposits of ₹ 2,000 Million with IL&FS which has already been written off in earlier years. The same has been disclosed as an exceptional item in the results. c) During the year ended March 31, 2026, following the implementation of the New Labour Codes and the resultant changes in employee compensation and benefit structures, the Company recognised a one-time exceptional expense of ₹ 259.31 Million relating to employees' past services. The Company's operation comprises one business segment - Automobile Tyres, Automobile Tubes and Automobile Flaps. The above results were reviewed by the Audit Committee on August 5, 2026 and approved by the Board of Directors at its meeting held on August 6, 2026. These unaudited standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards (IND AS) as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act 2013 read with rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 (as amended) and in terms of regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 and other accounting principles generally accepted in India. a) The Company has carried out re-organisation exercise for its employees. The full and final amount paid to the employees who opted for this scheme aggregated to ₹ 12.00 Million for the quarter ended June 30, 2026, ₹ 9.47 Million for the quarter ended March 31, 2026, ₹ 17.28 Million for the quarter ended June 30, 2025 and ₹ 74.56 Million for year ended March 31, 2026, have been disclosed as an exceptional item The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the unaudited published year to date figures up to December 31, 2025 being the date of the end of third quarter of the previous financial year, which were subject to limited review. The listed non-convertible debentures (NCDs) issued by the Company, aggregating to ₹ 7,500 Million as on June 30, 2026, are secured by a pari passu first charge by way of hypothecation on movable fixed assets of the Company, both present and future (except stocks and book debts). Out of the above, NCD's amounting to ₹ 5,000 Million carrying interest rate of 8.75% p.a (which are for 10 year bullet payment) also have exclusive charge on the immovable property of the Company's Registered office at Kochi. The asset cover thereof exceeds 125% of the principal amount of the said NCDs. During the year ended March 31, 2026, following the enactment of the Finance Act, 2026, the Company elected to adopt the concessional tax regime under Section 200 of the Income-tax Act, 2025 from Tax Year 2026-27. Consequently, the applicable tax rate reduced from 34.94% to 25.17%. Accordingly, the Company remeasured its deferred tax balances using the revised tax rate and recognised a one-time deferred tax credit of ₹ 5,736.71 Million in the Statement of Profit and Loss for the quarter and year ended March 31, 2026.
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S.R. BATLIBOI & Co. LLP Chartered Accountants 67, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India Tel: +91124 681 6000 Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Apollo Tyres Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Apollo Tyres Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its associate and joint venture for the quarter ended June 30, 2026 (the " Statement ") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations). 2. The Holding Company 's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) " Interim Financial Reporting " prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 , "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular No. CIR/CFD /CMD 1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations , to the extent applicable. 4. The Statement includes the results of the entities included in Annexure I 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below , nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS ') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed , or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited interim financial results and other financial information , in respect of: • 3 subsidiaries , whose unaudited financial results include total revenue of Rs 24,525 million, total net profit after tax of Rs. 338 million and total comprehensive income of Rs. 338 million for the quarter ended June 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditors . S.P. i33tl ibo1 & C·) LLP, a Limit~'1 Li abiht •/ ?::irmer:;hi p with LLP lde,ntit ,, No . .:...:..S-..!29-4 Ri.:g,f o ru ... e .:: ~. C.ll ll,!I'. 31rce1. Bk,:1-. "B "l;d FIO•.Jf L ,,I Li! ,L- "'I)() 11[ 1,
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S.R. BArL1Bo1 & Co. LLP Chartered Accountants The independent auditor 's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. 7. All of these subsidiaries are located outside India whose financial results and other financia l information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under genera lly accepted auditing standards app licable in their respective countries. The Holding Company's management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India . We have reviewed these conversion adjustments made by the Holding Company 's management. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us. Our conclusion on the Statement in respect of matters stated in para 6 above is not modified with respect to our reliance on the work done and the reports of the other auditors. For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number : 30 1003E/E300005 ~ ~ :v.---~ pe< P,n:::,dh: (5"8G::, 0 ~ 11 :('~ Partner \ S' o Membership No.: 091813 '--~ UDIN: 260q 1. 8i3ESNS FG.9352 Place : Jaipur , Rajasthan Date: August 6, 2026
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S.R. BATLIBOI & Co. LLP Chartered Accountants Annexure-1 List of entities included in the Statement H tct· C 0 mg om pany S. No. Name of the Company I Apollo Tyres Limited Subsidiaries S. No. Name of the Company I Apollo Tyres Cooperatief U .A. 2 Apollo (South Africa) Holdings (Pty) Ltd. ,, Apollo Tyres Africa (Pty) Ltd .) 4 Apollo Tyres (Thailand) Limited 5 Apollo Tyres (Middle East) FZE 6 Apollo Tyres Holdings (Singapore) Pte. Ltd. 7 Apollo Tyres (UK) Holdings Ltd. 8 Apollo Tyres (London) Pvt. Ltd. 9 Apollo Tyres Global R&D B.V. 10 Apollo Tyres AG I I Apollo Tyres do (Brasil) L TOA 12 Apollo Tyres (Europe) B.V. 13 Apollo Tyr es (Hungary) Kft 14 Apollo Tyre s (NL) B.V. 15 Apollo Tyres (Germany) GmbH 16 Apollo Tyres (Nordic) AB 17 Apollo Tyres (UK) Sales Ltd. 18 Apollo Tyres (France) SAS 19 Apollo Tyres (Belux) SA 20 Apollo Tyres (Austria) Gesellschaft m.b.H. 21 Apollo Tyres (Schweiz) AG 22 Apollo Tyres lberica , S.A.U. 23 Apollo Tires (US) Inc. 24 Apollo Tyres (Hungary) Sales Kft. 25 Apollo Tyres (Polska) Sp. Z 0.0 . 26 Vredestein Consulting B.V. 27 Finlo B.V. 28 Reifencom GmbH, Hannover 29 Rei fen com Tyre (Qingdao) Co., Ltd. 30 Saturn FI Pvt. Ltd 3 I Apollo Tyres (Greenfield) B.V. 32 Apollo Tyres Global Business Services Limited 33 Trusted Mobility Services Limited
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S.R. BATLIBOI & Co. LLP Chartered Accountants Annexure-1 (Continued) Associate S. No. Name of the Company KT Telematic Solutions Private Limited Joint Venture I S. No. I Name of the Company Pan Aridus LLC
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S.R. BATLIBOI & Co. LLP Chartered Accountants 6 7, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India Tel: +91124 681 6000 Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Apollo Tyres Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Apollo Tyres Limited (the "Company") for the quarter ended June 30, 2026 (the "Statement") attached herewith , being submitted by the Company pursuant to the requir ements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the " Listing Regulations "). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) " Interim Financial Reporting" prescribed under Section l 33 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations . The Statement has been approved by the Company's Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 24 l 0, ·'Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. 4 . Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (' Ind AS') specified under Section 133 of the Companies Act, 2013 as amended , read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed , or that it contains any material misstatement. For S.R. Batliboi & Co LLP Chartered Accountants ICAI F1· registratio_n number: 30l003E /E300005 \ {),\ .,,__~c_c)-I '\ \.,\I" - • per Pankaj Chadha Partner Membership No.: 091813 UDIN: 26091B13'FC6J W B ~2· Place: Jaipur , Rajasthan Date: August 6, 2026 -; .. ~ . E;3 ti ib c,1 3c ,: ,J L L P, a Limit ➔ d Liab i lit ·/ P3rtner~hip with L L P l de,ntit ·/ r-l o. A.l.8 - J .:'.'1 4 R~grl Of!!,;.: ~ ~ i~ .HJ1,1,.: Sired . Bll";h ·B l. ;d Flou r 1:vlk.u.1--t~l ll!t,
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S.R. BATLIBOI & Co. LLP Chartered Accountants 67, Institutional Area Sector 44, Gurugram • 122 003 Haryana, India Tel: +91 124 681 6000 Independent Auditor's Report on book values of the assets and compliance with respect to financial covenants as at June 30, 2026 for submission to Debenture Trustee To The Board of Directors Apollo Tyres Limited 7 Institutional Area, Sector 32 Guru gram 122001, Haryana, India I. This Report is issued in accordance with the terms of the service scope letter agreement dated August 03, 2026 and master engagement agreement dated July 26, 2023, as amended with Apollo Tyres Limited (hereinafter the '·Company"). 2. We S.R. Batliboi & CO. LLP, Chartered Accountants , are the Statutory Auditors of the Company and have been requested by the Company to examine the accompanying Statement on book va lue of assets and comp liance status of financial covenants for 7,500 (Seven Thousand Five Hundred only) rated , listed , secured , redeemable , non-convertible debentures issued in multiple tranches having face value of INR I 0,00 ,000 (Rupees Ten Lakh Only) each , for an aggregate nominal value of INR 7,50,00 ,00,000 (Rupees Seven Hundred Fifty Crore only) (hereinafter the " Debentures") of the Company, as at June 30, 2026 (hereinafter the "Statement") which has been prepared by the Company from the Board approved unaudited standa lone financial results, underlying books of account and other relevant records and docum ents maintained by the Company as at and for the period ended June 30 , pursuant to the requirements of Regulation 56( I)( d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations , 2015 , as amended, SEBI Circular dated May 19. 2022 and Master Circular SEBI/HO /DDHS-P oD-I /P/CIR/2025/117 dated August 13, 2025 on Revised Format of Security Cover Certificate , Monitoring and Revision in Timelines (hereinafter referred to as the '"SEBI Regulations and SEBI Circular") , and has been signed by us for identification purpose only. This Report is required by the Company for the purpose of submission with Vistra ITCL India Limited (hereinafter the " Debenture Trustee ' ) of the Company to ensure compliance with the SEBI Circular in respect of its Debentures. The Company has entered into an agreement with the Debenture Trustee vide supplementary agreement dated August 29, 2022 ( collectively referred as • Debenture Trust Deeds ' ) in respect of such multiple tranches of Debentures. Management's Responsibility 3. The preparation of the Statement is the responsibility of the management of the Company including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes the design , implementation and maintenance of internal control relevant to the preparation and presentation of the Statement and applying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances . 4. The management of the Company is responsible for ensuring that the Company comp lies with all the relevant requirements of the SEBI circular and SEBI (Listing Obligations and Disclosure Requirements) Regulations , 2015 including providing all relevant information to the Debenture Trustee. Auditor's Responsibility 5. It is our responsibility to provide a limited assurance and conc lude as to whether the : (a) Book values of assets as included in the Statement are in agreement with the books of account underlying the unaudited standalone financial results of the Company as at June 30, 2026. S.R. Batlibai & Ca LLP, a Limited Liability Partnership with LLP Identity Na. AAB-4294 Regd Office 22. Camac Street, Block ·s·. 3rd Floor. Kolkata•700016
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S.R. BATLIBOI & Co. LLP Chartered Accountants (b) Company is in compliance with financial covenants as mentioned in the Debenture Trust Deed as and/or Information Memorandum as on June 30, 2026. 6. We have performed a limited review of the unaudited standalone financial results of the Company for the period ended June 30, 2026, prepared by the Company pursuant to the requirements of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and issued an unmodified conclusion dated August 06, 2026. Our review of those financial results was conducted in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India ("!CAI"). 7. We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes issued by the !CAI (the "Guidance Note"). The Guidance Note requires that we comply with the ethical requirement s of the Code of Ethics issued by the !CAI. 8. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historica l Financial Inform ation, and Other Assura nce and Related Services Engagements . 9. Our scope of work did not involve us performing audit tests for the purposes of expressing an opinion on the fairness or accuracy of any of the financial information or the financial results of the Company taken as a whole. We have not performed an audit, the objective of which would be the expression of an opinion on the financial results , specifi ed elements , accounts or items thereof , for the purpose of this report. Accordingly, we do not express such opinion . I 0. A limited assurance engagemen t includes performin g procedures to obtain sufficient appropriate evidence on the applicable criteria , mentioned in paragraph 5 above. The procedures performed vary in nature and timing from , and are less extent than for, a reasonable assurance. Conseq uently, the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. Accordingly, our procedures included the following in relation to the Statement: a) Obtained the Board approved financial results of the Company for the period ended June 30, 2026. b) Traced the book value of assets with the books of acco unts of the Company underlying the unaudited standalone financial results . c) Obtained a list of financial covenants applicable to the Debentures . d) With respect to compliance with financi al covenants included in the Statement , we have performed the following procedures . (i) Obtained and verified the arithmetical accuracy for the computation of net debt to earnings before interest, tax and depreci ation and amortization (EBITDA) as at June 30, 2026 and debt service coverage ratio for the period ending June 30, 2026. (ii) Traced and agreed the Long-term borrowin gs, Short-term borrowings including current maturities of long term borrowings , cash and cash equivalents , other bank balances , investment in quoted mutual funds , Profit after tax, Tax , Exceptional items, Depreciation , Interest expense , other income , Total interest payable , Intere st on Lease Liability , Annual repayment of debt and Borrowing cost capitalized from the unaudited books of account of the Company. (iii) Obtained repayment schedule and traced the date ofrepayment of princip al and interest due during the period ending June 30, 2026 .
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S.R. BATLIBOI & Co. LLP Chartered Accountants e) With respect to covenants other than those mentioned in paragraph 10( d) above, the management has represented and confirmed that the Company has complied with all the other covenants including affirmative, informative, and negative covenants, as prescribed in the Debenture Trust Deed , as at June 30, 2026. t) Performed necessary inquiries with the management and obtained necessary representations. Conclusion 11. Based on the procedures performed by us, as referred to in paragraph l 0 above and according to the information and explanations received and management representations obtained, nothing has come to our attention that causes us to believe that: a) The Book values of assets as included in the Statement are not in agreement with the books of account unaudited standalone financial results of the Company as at June 30, 2026. b) Company is not in compliance with financial covenants as mentioned in the Debenture Trust Deed as on June 30, 2026. Restriction on Use 12. The Report has been issued at the request of the Company , solely in connection with the purpose mentioned in paragraph 2 above and to be submitted with the accompanying Statement to the Debenture Trustee and is not to be used or referred to for any other person. Accordingly , we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this repo11 is shown or into whose hands it may come . We have no responsibility to update this Report for events and circumstances occurring after the date of this report. For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E /E300005 per Pankaj Chadha Pai1ner Membership Number: 091813 urnN: 2Go91Sio'""'RxsnE5o9o Place: Jaipur , Rajasthan Date: August 06, 2026
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Statement of Security Cover as per the terms of the offer document/ Information Memorandum and/or Debenture Trust Deeds and book value of assets Amounts in INR Millions Column Column Column Column Column Column Column Column Column Column Column Column Column Column Column Column A B C D E F G H I J K L M N O P Exclusive Charge Exclusive Charge Pari-Passu Charge Pari-Passu Charge Pari-Passu Charge Assets not offered as Security Debt not backed by any assets offered as security Elimination (amount in negative) (Total C to H) Market Value for Assets charged on Exclusive basis Carrying /book value for exclusive charge assets where market value is not ascertainable or applicable (For Eg. Bank Balance, DSRA market value is not applicable) Market Value for Pari passu charge Assets viii Carrying value/book value for pari passu charge assets where market value is not ascertainable or applicable (For Eg. Bank Balance, DSRA market value is not applicable) Total Value (K+L+M+ N) Book Value Book Value Yes/ No Book Value Book Value (Note n) (Note n) ASSETS (Note b) Property, Plant and Equipment Note-c,d 22.31 - - 80,200.04 - 18,276.72 - - 98,499.07 - 22.31 - 80,200.04 80,222.35 Capital Work-in- Progress Note-e - - - 9,479.88 - - - - 9,479.88 - - - 9,479.88 9,479.88 Right of Use Assets - - - - - 3,935.35 - - 3,935.35 - - - - - Goodwill - - - - - - - - - - - - - - Intangible Assets - - - - - 386.12 - - 386.12 - - - - - Intangible Assets under Development - - - - - 605.84 - - 605.84 - - - - - Investments - - - - - 24,336.83 - - 24,336.83 - - - - - Loans - - - - - - - - - - - - - - Inventories - - - - - 36,932.04 - - 36,932.04 - - - - - Trade Receivable s - - - - - 23,750.79 - - 23,750.79 - - - - - Cash and Cash Equivalents - - - - - 2,913.96 - - 2,913.96 - - - - - Bank Balances other than Cash and Cash Equivalents - - - - - 147.18 - - 147.18 - - - - - Others Note-f - - - - - 13,989.23 - - 13,989.23 - - - - - Total 22.31 - - 89,679.92 - 1,25,274.06 - - 2,14,976.29 - 22.31 - 89,679.92 89,702.23 LIABILITIES (Note b) Debt securities to which this certificate pertains Note-g, h, i 4,992.48 - Yes 7,491.61 - - - (4,992) 7,491.61 - 4,992.48 - 7,491.61 7,491.61 Other debt sharing pari-passu charge with above debt Note-j - No 8,916.65 - - - - 8,916.65 - - - 8,916.65 8,916.65 Other Debt - No - - - - - - - - - - - Subordinated debt - No - - - - - - - - - - - Borrowings Note-k - No - - 7,010.36 - - 7,010.36 - - - - - Bank - No - - - - - - - - - - - Debt Securities - No - - - - - - - - - - - Others Note-l - No - - 35,351 - - 35,350.79 - - - - - Trade payables - No - - 25,351.41 - - 25,351.41 - - - - - Lease Liabilities - - No - - 4,363.39 - - 4,363.39 - - - - - Provisions - - No - - 4,177.65 - - 4,177.65 - - - - - Others (Interest Accrued) Note-m 99.49 - No 252.87 - - (99) 252.87 - 99.49 - 252.87 352.36 Total 5,091.97 - - 16,661.13 - 76,253.59 - (5,092) 92,914.73 - 5,091.97 - 16,661.13 21,753 Cover on Book Value Note-o 0.004 5.38 0.004 5.38 5.39 Cover on Market Value -- - - - - - - Exclusive Security Cover Ratio Pari-Passu Security Cover Ratio Notes : b.) The book value of assets and liabilities has been extracted from the unaudited financial results of the Company as on June 30, 2026. c.) “Property Plant & Equipment” represents the book value of property plant & equipment in column C against which exclusive charge created for 8.75 % Non Convertible Debentures as on June 30, 2026. d.) “Property Plant & Equipment” represents the book value of property plant & equipment in column F against which pari passu charge created for Non Convertible Debentures and secured term loan as on June 30, 2026. f.) “Other” represents the book value of "total assets less the book value of assets as captured above separately" as on June 30, 2026. g.) “Debt securities to which this certificate pertains” represents the book value of Non Convertible Debentures as on June 30, 2026 in column C for which exclusive security charge created. h.) “Debt securities to which this certificate pertains” represents the book value of Non Convertible Debentures as on June 30, 2026 in column F for which pari passu charge created. i.) “Debt securities to which this certificate pertains” represents the book value of Non Convertible Debentures as on June 30, 2026 in column I for which exclusive security charge and pari passu charge created. j.) “Other debt sharing pari-passu charge with above debt” represents the book value of secured term loan as on June 30, 2026 in column F for which pari passu charge created. ' k.) “Borrowings” represents the book value of unsecured loan as on June 30, 2026. l.) “Others” represents the book value of total liability less the book value of liability as captured above separately as on June 30, 2026. m.) “Others (Interest Accrued)” represents the book value of accrued interest as part of Other financial liabilities, other portion of it considered in "other" Note (l) as on June 30, 2026. n.) It represents the book value (net of accumulated depreciation) of the Hypothecated Properties for which market value has not been determined. o.) "Cover on Book Value" in column C represents the additional cover ratio for the exclusive charge holder. p.) “Debt securities to which this certificate pertains” represents the book value of Non Convertible Debentures as on June 30, 2026 in column J for which exclusive security charge and pari passu charge created. Therefore In order to match the liability amount with financials, it is necessary to eliminate the debt which has been counted more than once Particulars Description of asset for which this certificate relate Related to only those items covered by this certificate Debt for which this certificate being issued Other Secured Debt Debt for which this certificate being issued Assets shared by pari passu debt holder (includes debt for which this certificate is issued & other debt with pari- passu charge) Other assets on which there is pari- Passu charge (excluding items covered in column F) debt amount considered more than once (due to exclusive plus pari passu charge) Relating to Column F not to be filled a.) This statement is prepared in accordance with requirements of Regulation 56(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, SEBI Circular dated May 19, 2022 and Master Circular SEBI/HO/DDHS-PoD-1/P/CIR/2025/117 dated August 13, 2025 The above statement includes the required information in respect of assets and liabilities held by the Company as on June 30, 2026 along with necessary break ups including the details of assets charged (i.e. entire tangible movable fixed assets) of the Company in respect of the Non Convertible Debentures as per the terms of the information memorandum and/or debenture trust deed. e.) “Capital Work In Progress” represents the book value of capital work in progress (CWIP) in column F against which pari passu charge has been created for Non Convertible Debentures and secured term loan as on June 30, 2026. For the purpose of above statement, entire value of CWIP has been considered as movable assets and considered for pari passu charge accordingly as the exact bifurcation of this amount into movable and immovable assets, if any will be available at a future date (i.e. at the time of capitalisation of the underlying assets). For APOLLO TYRES LTD. Authorised Signatory ~ t-+-- ·f f t I 111 I I I I I I I 11 I I 11 1111 111111111111111 I rr r t-+-- t) t-+--
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Statement of Compliance with Covenants Amount (Rs. Million) 20,505 27,221 0.75 Amount (Rs. Million) 27,016 5,733 4.71 Table A - Computation of Net debt as at June 30, 2026 Amount (Rs. Million) Long-term borrowings 14,272.07 Short-term borrowings including current maturities of long-term borrowings 9,147 Less: Cash and cash equivalents 2,914 Less: Other Bank balances 0.01 Less: Investment In Mutual Fund - 20,505 Table B - Computation of EBITDA For the period 1 April 2026 For the period 1 April 2025 For the period 1 April 2025 For the period 1 July 2025 To To To To 30 June 2026 (Rs. Million) 31 March 2026 (Rs. Million) 30 June 2025 (Rs. Million) 30 June 2026 (Rs. Million) Profit after tax 3,042 18,518 2,222 19,339 Add: - - - - Tax 1,037 323 1,155 205 Exceptional items -235 334 17 81 Depreciation # 1,985 8,137 2,029 8,093 Interest expense ** 674 2,902 760 2,815 Less: - - - - Other income 336 3,127 151 3,312 6,167 27,087 6,032 27,221 5,130 26,764 4,877 27,016 # Excluded depreciation on ROU. *Annualised (TTM=Trailing twelve months.) ** Excluded interest on lease liability. Table C - Computation of Debt service as at June 30, 2026 For the period 1 April 2026 For the period 1 April 2025 For the period 1 April 2025 For the period 1 July 2025 To To To To 30 June 2026 (Rs. Million) 31 March 2026 (Rs. Million) 30 June 2025 (Rs. Million) 30 June 2026 (Rs. Million) Total interest payable* 762 3,288 858 3,192 Less: Interest on Lease Liability (88) (387) (98) (377) Add: Annual repayment of debt# 1,688 6,438 5,209 2,918 Add: Borrowing Cost Capitalised** - - - - Add: Redemption of preference shares - - - - 2,362 9,339 5,969 5,733 * Represents interest expense on long term & short term borrowings. # Represents repayment for the period ended June 30, 2026 of long term & short term borrowings excluding working capital. ** Interest on borrowing require capitalisation as per Ind AS Notes to statement: For Apollo Tyres Limited Authorised Signatory Mr. Davendra Mittal Head - Corporate Finance 1. Computation of net debt to earnings before interest tax and depreciation and amortization (EBITDA) as at June 30, 2026 2. Net debt is aggregate amount of all borrowings of the Company excluding cash and cash equivalents and bank balances. 3. Earnings before interest tax depreciation and amortization is profit of the Company before deducting interest, tax and depreciation and amortization and excluding other income and exceptional items 4. Debt service is the total interest payable by the Company and total repayments of long term debts made with the redemption of preference shares, if any. 5. Financial covenants for all the series of non convertible debentures is as follows: Net debt to EBITDA shall not exceed 3.5 DSCR shall not fall below 1.1 FACR shall not fall below 1.25 1. The Statement has been prepared based on the basis of audited book of account of the company as on June 30, 2026 prepared in accordance with Indian Accounting Standards (hereinafter referred to as the Ind AS’) specified under the Companies (Indian Accounting Standards) Rules 2015, as amended. EBITDA- tax (refer table B) Debt service (refer table C) Debt service coverage ratio Particulars Net debt Particulars EBITDA EBITDA - Tax Particulars Debt service Particulars Particulars Net debt (refer table A) EBITDA - TTM (refer table B) Net debt to EBIDTA 2. Computation of debt service coverage ratio for the period July 01, 2025 to June 30, 2026 I I I I
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Immoveable* Moveable S. No. Amount in Rs. Mn. Amount in Rs. Mn. i. 22.31 89,679.92 N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. A 22.31 89,679.92 ii. 4,992.48 16,408.26 N.A. N.A. 99.49 252.87 B 5,091.97 16,661.13 iii. A/ B 0.004 5.38 Note: * Exclusive charge on the immovable property of the Company’s registered office in Kochi For 8.75% NCD Of Rs. 500 Crs. ꞏ Interest accrued/payable on secured Debt Securities including bank loans Asset Coverage Ratio (100% or higher as per the terms of offer document/information memorandum/ debenture trust deed) ꞏ IND - AS adjustment for effective Interest rate on secured Debt Securities. Fixed Asset Coverage Ratio as on June 30, 2026 Particulars Total assets available for secured Debt Securities’ – (secured by either pari passu or exclusive ꞏ Property Plant & Equipment (Fixed assets) - movable / immovable property etc. * ꞏ Loans /advances given (net of provisions, NPAs and sell down portfolio), Debt Securities, other credit extended etc. Receiv ables including interest accrued on Term loan/ Debt Securities etc. Investment(s) - Liquid ꞏ Cash and cash equivalents and other current/ Non-current assets. Total borrowing through issue of secured Debt Securities (secured by either pari passu or exclusive charge on assets) - (Details As Per Annexure-I) . ꞏ Debt Securities including bank loans For APOLLO TYRES LTD. Authorised Signatory