Debt on B/S substantially reduced, calibrated Growth Capex on anvil: Tyre industry is known to have bloated balance sheets owning to high capex intensity. Apollo tyre has done considerable work in this domain with net debt down from ~ 6,000 crore in FY20 to ~ 1,300 crore as of Q3FY26 end, a reduction of substantial ~ 4,700 crore. In this timeframe its EBITDA has improved from ~ 1,900 crore in FY20 to ~ 3,600 crore in FY25 with consequent Net Debt: EBITDA now placed at 0.4x as of Q3FY26. This financial flexibility allows the company to undertake a capacity...