Apollo Tyres Limited

rs,

Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Sub: Investor Presentation-Q2 FY23 Dear Sirs, November 16, 2022 The Secretary, BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 40

INR 59,560

ot Q2 FY23 Financial Performance Revenue EBITDA EBITDA Margins Q2 FY23 Operational Highlights INR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-

INR 7,120

ancial Performance Revenue EBITDA EBITDA Margins Q2 FY23 Operational Highlights INR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12

17%

venue EBITDA EBITDA Margins Q2 FY23 Operational Highlights INR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61

12%

EBITDA Margins Q2 FY23 Operational Highlights INR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Dilute

INR 1,944

Highlights INR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performa

3.3%

NR 59,560 Mn INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Rev

16 Bps

INR 7,120 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Revenue EBITDA EB

12.0%

0 Mn Y-o-Y +17% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Revenue EBITDA EBITDA Ma

61 Bps

7% Y-o-Y +12% Net Profit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 118,9

INR 3.06

rofit Net Profit Margins INR 1,944 Mn 3.3% Y-o-Y -16 Bps 12.0% Y-o-Y -61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 118,980 Mn INR 14,018 Mn Y-o-

INR 118,980

-61 Bps Diluted EPS INR 3.06 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 118,980 Mn INR 14,018 Mn Y-o-Y 23.1% Y-o-Y +16.4% 11.8% Y-o-Y -69 Bps Net Profit Net Profit Margin

“Correction in input prices should help in improving operating margin performance in near to medium term Revenue (₹ Mn) 42,519 36,497 Q2 FY22 Q2 FY23 EBITDA Margin (%) 10.3% 10.3% Q2 FY22 Q2 FY23 5 Operating Highlights – Europe1 Q2 FY23 • PCLT market declined by ~9.5%, mainly on account of inventory.”

“Reifencom GmbH (Distribution business) Q2 FY22 Q2 FY23 6 Consolidated Cash Flow & Balance Sheet Highlights 18 Capex (₹ Bn) 4 FY22 YTD FY23 Free Cash flow (₹ Bn) YTD FY23 Net Debt (₹ Bn) -5 55 2.0 2.1 1.9 1.7 FY22 -2 47 1.8 Mar' 22 Net Debt (₹Bn) Sept' 22 Net Debt to EBITDA (x) 50 40 Key Highlights • Capex in line with guidance.”

Note

1

Notes

1

Note

1. Europe Includes operations of ReifenCom APMEA, 69% Revenue Mix Standalone – YTD FY23 Revenue Mix Consolidated – YTD FY23 By Product Others, 4% Light Commercial Vehicle, 9% Farm/ Off Highway, 9% Passanger Vehicle, 21% By Channel By Product By Channel Export, 18% Truck & Bus, 58% OEM, 24% Others, 5% Light Truck, 7% Truck & Bus, 43% OEM, 21% Farm/Off Highway, 10% Passanger Vehicle, 36% Replacement, 58% Replacement, 79% 4 4 Operating Highlights – India Q2 FY23 • Quarter was once again marked by RM inflation. • Despite adverse environment, reported 17% YoY increase in revenues, largely driven by price increases • Pricing environment and we undertook price increase up to ~ 5% in replacement segment. Reported ~62bps improvement EBITDA margin sequentially (flat YoY) remained stable, • In terms of demand outlook, we are cautiously optimistic. Correction in input prices should help in improving operating margin performance in near to medium term Revenue (₹ Mn) 42,519 36,497 Q2 FY22 Q2 FY23 EB

Notes

1. Includes only sales and manufacturing operations , excl. Reifencom GmbH (Distribution business) Q2 FY22 Q2 FY23 6 Consolidated Cash Flow & Balance Sheet Highlights 18 Capex (₹ Bn) 4 FY22 YTD FY23 Free Cash flow (₹ Bn) YTD FY23 Net Debt (₹ Bn) -5 55 2.0 2.1 1.9 1.7 FY22 -2 47 1.8 Mar' 22 Net Debt (₹Bn) Sept' 22 Net Debt to EBITDA (x) 50 40 Key Highlights • Capex in line with guidance. • Marginal increase in net debt from ₹ 47bn (Mar ’22) to ₹ 55bn (Jun ‘22). • Net Debt increase on account of lower cash & cash equivalents. The gross debt during the period has been largely flattish (₹ 63bn in Sep ‘22 from ₹ 62bn in Mar ‘22). 7 Financial Statements Profit & Loss (Quarterly) – Consolidated Particulars (₹ Mn) Q2 FY23 Q2 FY22 Q1 FY23 % Change - YoY % Change - QoQ Revenues Raw Material Staff Cost Other Costs EBITDA EBITDA Margin (%) Depreciation Other Income EBIT EBIT Margin Interest Tax Exceptional Items PAT PAT Margin (%) 59,560 36,406 6,141 9,893 7,120 12.0% 3,485 69 3,703 6.2% 1,320 440