Apollo Tyres Limited

rs,

Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Sub: Investor Presentation-Q3 FY23 Dear Sirs, February 6, 2023 The Secretary, BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400

INR 64,228

ot Q3 FY23 Financial Performance Revenue EBITDA EBITDA Margins Q3 FY23 Operational Highlights INR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-

INR 9,134

ancial Performance Revenue EBITDA EBITDA Margins Q3 FY23 Operational Highlights INR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14

13%

venue EBITDA EBITDA Margins Q3 FY23 Operational Highlights INR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +12

23%

EBITDA Margins Q3 FY23 Operational Highlights INR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Dilut

INR 2,921

Highlights INR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Perform

4.5%

NR 64,228 Mn INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Re

63 Bps

INR 9,134 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Revenue EBITDA E

14.2%

4 Mn Y-o-Y +13% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Revenue EBITDA EBITDA M

120 Bps

3% Y-o-Y +23% Net Profit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 183,2

INR 4.60

ofit Net Profit Margins INR 2,921 Mn 4.5% Y-o-Y +63 Bps 14.2% Y-o-Y +120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 183,208 Mn INR 23,152 Mn Y-o-

INR 183,208

+120 Bps Diluted EPS INR 4.60 YTD FY23 Financial Performance Revenue EBITDA EBITDA Margins INR 183,208 Mn INR 23,152 Mn Y-o-Y +19% Y-o-Y +19% Net Profit Net Profit Margins INR 6,771 Mn 3.7% Y-o

“Reported 263bps improvement EBITDA margin sequentially (+381 bps YoY), helped by softening in input prices, strong pricing discipline and stringent cost control measures • Expect demand momentum to remain healthy in OEM segment.”

“• Expect the margin performance to remain healthy on back of correction in input prices and tight cost control Revenue (₹ Mn) 37,917 42,466 Q3 FY22 Q3 FY23 EBITDA Margin (%) 12.9% 9.1% Q3 FY22 Q3 FY23 5 Operating Highlights – Europe1 Q3 FY23 Revenue (€ Mn) • PCLT market declined by ~14% (YoY), mainly on inventory, mild winters and to account of high channel economic outperform overall market with lowest decline slowdown.”

“• Continued improvement in sales mix - UHP / UUHP accounted for ~45% of PCLT sales (volumes) in Q3 FY23 (~43% in Q3 FY22) • Despite costs push (RM and energy), maintained margins sequentially • Expect market slowdown to coutinue.”

“However, expect margins to remain healthy helped by correction in energy and RM costs 167 180 Q3 FY22 Q3 FY23 EBITDA Margin (%) 20.3% 15.4%”

“4 • Net debt decreased from ₹ 55bn (Sept ’22) to ₹ 48bn (Dec Key Highlights • Capex in line with guidance.”

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1. Europe Includes operations of ReifenCom APMEA, 67% Revenue Mix Standalone – YTD FY23 Revenue Mix Consolidated – YTD FY23 By Product Others, 4% By Channel Export, 17% Truck & Bus, 58% OEM, 25% Light Commercial Vehicle, 8% Farm/ Off Highway, 8% Passanger Vehicle, 21% Replacement, 59% By Product By Channel Truck & Bus, 42% OEM, 21% Others, 5% Light Truck, 6% Farm/Off Highway, 9% Passanger Vehicle, 37% Replacement, 79% 4 4 Operating Highlights – India Q3 FY23 • Saw demand revival in OEM segment (CV & PCR), while the demand moderated in replacement segment • Despite sluggish demand environment reported 12% YoY increase in topline, driven by price and mix • Pricing environment remained stable. Undertook ~3% price increase in the PCR segment. Reported 263bps improvement EBITDA margin sequentially (+381 bps YoY), helped by softening in input prices, strong pricing discipline and stringent cost control measures • Expect demand momentum to remain healthy in OEM segment. Although demand in rep

Notes

1. Includes only sales and manufacturing operations , excl. Reifencom GmbH (Distribution business) Q3 FY22 Q3 FY23 6 Consolidated Cash Flow & Balance Sheet Highlights 18 Capex (₹ Bn) FY22 6M FY23 ‘22). 4 • Net debt decreased from ₹ 55bn (Sept ’22) to ₹ 48bn (Dec Key Highlights • Capex in line with guidance. FY22 -2 55 2.1 50 40 Sept' 22 Net Debt (₹Bn) • Net Debt decrease on account of lower debt and slight increase in cash and cash equivalents. The gross debt during the period also came down (₹ 57bn in Dec ‘22 from ₹ 63bn in Sept ‘22). Free Cash flow (₹ Bn) 6M FY23 -5 Net Debt (₹ Bn) 48 1.6 Dec' 22 Net Debt to EBITDA (x) 2.4 1.9 1.4 7 Financial Statements Profit & Loss (Quarterly) – Consolidated Particulars (₹ Mn) Q3 FY23 Q3 FY22 Q2 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 (%) 64,228 38,754 6,724 9,616 9,134 14.2% 3,544 67 5,657 8.8% 1