Q3 2025 Apollo Tyres Ltd Earnings Call Transcript
Key Points
- Apollo Tyres Ltd (BOM:500877) achieved a consolidated top-line growth of 8% quarter on quarter and 5% year-on-year, despite challenges in raw material costs.
- The company maintained a consolidated EBITDA margin of 13.7%, similar to the previous quarter, indicating effective cost control measures.
- Apollo Tyres Ltd (BOM:500877) outperformed the industry in the domestic PCR and agri-replacement segments, resulting in market share gains.
- In Europe, the company registered a 7% growth in the replacement segment revenues and improved its product mix by more than 400 basis points.
- The company is focusing on expanding its presence in the US and Middle East markets, with a particular emphasis on Saudi Arabia, indicating strategic growth initiatives.
- The domestic growth was partially offset by a marginal decline in the OEM segment, impacting overall performance.
- Interest costs in India increased due to working capital borrowings, reflecting profitability challenges and a weaker market.
- The company's export growth was flat, with some peers performing better in this area, indicating potential areas for improvement.
- Gross margins contracted by 300 basis points in the India standalone numbers for Q3, attributed to inventory consumption.
- The company faces competitive intensity in the market, limiting its ability to increase prices and improve margins.
Yeah, hi. Good afternoon, everyone. So this is Mihir Vora. On behalf of Equirus Securities, I welcome you all to the 3Q FY25 earnings call of Apollo Tyres.
We have with us today Mr. Neeraj Kanwar, Managing Director and Vice Chairman of Apollo Tyres; Mr. Gaurav Kumar, Chief Financial Officer and the IR Team. So as always, we'll start the call with brief opening remarks from the management, followed by a Q&A session.
With that, over to you, Mr. Kanwar. Thank you.
Good afternoon, and a very warm welcome to all of you to join the Apollo Q3 FY25 post-results conference call. As normal practice, I'll say my opening remarks and then pass it on to Gaurav.
First of all, despite growing -- growth challenges and elevated level of raw material costs, we closed Q3 FY25 with consolidated top-line growth of 8% quarter on quarter and 5% Y-on-Y. Held by cost control, consolidated margins stood at 13.7%, broadly similar to last
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