Board Meeting Details

The Board of Directors meeting was held on Wednesday, 4th November 2026, commencing at 4:27 PM and concluding at 5:23 PM.

Key Decisions and Financial Results

Financial Results Approval

The Board approved the Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended 30th September, 2026, pursuant to Regulations 33 and 52 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Dividend Declaration

The Board declared 2nd interim dividend of ₹4 per Equity Share (200%) on Equity Shares of ₹2 each (face value) for FY 2026-27. The dividend will be paid within 30 days from declaration to shareholders on record as of 11th November 2026. The cash outflow for this dividend is ₹77.32 crores.

Auditor Review

The Limited Review Report on Unaudited Financial Results was issued by joint statutory auditors:

  • M/s. Jayantilal Thakkar & Co., Chartered Accountants (Firm Registration No. 104133W)
  • M/s. Deloitte Haskins & Sells Chartered Accountants LLP (Firm Regn. No. 117364W/W100739)

Financial Performance Highlights

Standalone Results (Quarter Ended 30-09-2026)

  • Revenue from Operations: ₹3,490.53 crore
  • Other Income: ₹43.42 crore
  • Total Income: ₹3,533.95 crore
  • Total Expenses: ₹3,146.34 crore
  • Profit Before Tax: ₹387.61 crore
  • Tax Expense: ₹96.48 crore (Current Tax: ₹86.01 crore, Deferred Tax: ₹10.47 crore)
  • Profit After Tax: ₹291.13 crore
  • Other Comprehensive Loss: ₹(51.28) crore
  • Total Comprehensive Income: ₹239.85 crore
  • Basic & Diluted EPS: ₹15.06

Consolidated Results (Quarter Ended 30-09-2026)

  • Revenue from Operations: ₹3,471.74 crore
  • Other Income: ₹43.52 crore
  • Total Income: ₹3,515.26 crore
  • Total Expenses: ₹3,125.90 crore
  • Profit Before Tax: ₹389.36 crore
  • Tax Expense: ₹96.74 crore (Current Tax: ₹86.25 crore, Deferred Tax: ₹10.49 crore)
  • Profit After Tax: ₹292.62 crore
  • Other Comprehensive Loss: ₹(57.65) crore
  • Total Comprehensive Income: ₹234.97 crore
  • Basic & Diluted EPS: ₹15.13

Half Year Performance (Standalone)

  • Revenue from Operations: ₹6,935.23 crore
  • Profit Before Tax: ₹969.56 crore
  • Profit After Tax: ₹723.23 crore
  • Basic & Diluted EPS: ₹37.41

Balance Sheet Position (Standalone as at 30-09-2026)

  • Total Assets: ₹20,579.14 crore
  • Total Equity: ₹11,665.48 crore
  • Non-Current Liabilities: ₹2,558.72 crore
  • Current Liabilities: ₹6,354.94 crore
  • Borrowings: ₹5,985.38 crore (Non-Current: ₹1,615.78 crore, Current: ₹4,369.60 crore)

Key Financial Ratios

Standalone Ratios (Quarter Ended 30-09-2026)

  • Debt-Equity Ratio: 0.51 times
  • Current Ratio: 1.01 times
  • Operating Margin: 11.77%
  • Net Profit Margin: 8.24%
  • Debt Service Coverage Ratio: 3.07 times
  • Interest Service Coverage Ratio: 16.37 times

Fundraising Activities

During the quarter ended 30th September 2026, the Company issued 55,000 unsecured non-convertible debentures (NCDs) of face value ₹1 lakh each amounting to ₹550 crores on private placement basis. The proceeds have been fully utilized for the intended purposes with no deviation.

Credit Rating

The company's commercial paper of face value ₹200 crores outstanding as of 30th September 2026 carries a CRISIL rating of A1+.

Business Segment Information

The Company has only one reportable business segment as per Ind AS-108: Tires.

Capital Expenditure

Previously announced capital expenditures are expected to be completed as per schedule within the approved budget.

Subsidiary Information

The consolidated results include 5 subsidiaries with total assets of ₹566.90 crores as at 30th September 2026, and total revenues of ₹265.96 crore for the quarter ended 30th September 2026.