Apollo Tyres Ltd reported an increase in both revenue and net profit for the second quarter of fiscal 2026-27, supported by growth in its Indian operations, while its board approved the appointment of Ravi Kumar Shingari as chief financial officer.
Revenue from operations on a consolidated basis rose 17% to Rs 7,968 crores for the quarter ended Sept. 30, 2026, from Rs 6,831 crores in the same period a year earlier, the Gurgaon, India-based tyre maker said. Operating profit was Rs 855 crores. Net profit increased 13% to Rs 292 crores from Rs 258 crores. The quarterly result included an estimated pre-tax restructuring cost of Rs 26 crores, which was disclosed as an exceptional item.
The board approved the company’s unaudited results for the quarter, covering July to September, and for the first half, covering April to September. The consolidated results cover the three months and six months ended Sept. 30, 2026. For the six months, consolidated revenue rose 15% to Rs 15,366 crores from Rs 13,392 crores. Operating profit was Rs 1,723 crores, and net profit reached Rs 641 crores, compared with Rs 271 crores in the same period a year earlier. The half-year result also included the estimated pre-tax restructuring cost of Rs 26 crores as an exceptional item.
Apollo said its Indian operations carried forward strong revenue growth momentum into the second quarter, reflecting the effectiveness of its growth initiatives. Chairman Onkar Kanwar said growth across categories in India had been supported by sustained rural expansion efforts and the company’s strategic association with cricket. He added that the launch of new products in the commercial vehicle segment in India strengthened performance during the past quarter.
Kanwar also pointed to external pressure, saying geopolitical tensions in West Asia remained a headwind, resulting in elevated input costs and supply chain disruptions for the company.
CFO appointment
The board also approved Shingari’s appointment as CFO effective Nov. 4, 2026. He joined Apollo Tyres in 2018 as Group Head, Finance, and has held responsibilities in budgeting, accounts and investor relations. More recently, he was given additional responsibility for legal.
Before joining Apollo, Shingari spent more than 16 years at KPMG, where his last assignment was Partner, Tax and Regulatory. He is a chartered accountant and holds a bachelor’s degree in commerce, B.Com (H), from Shri Ram College of Commerce, Delhi University. In the CFO role, he will report directly to Neeraj Kanwar, vice chairman and managing director.