3 Global Tyre Maker, Vehicle Lighting Supplier and Locks and Mirrors Specialist Stocks With a Strong Future Roadmap: Apollo Tyres, Varroc Engineering and Sandhar Technologies
- October 26, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
Apollo Tyres, Varroc Engineering and Sandhar Technologies: ROE of 12.4% to 14.9% and FY22 to FY26 revenue CAGR of 7.9% to 20.6%. Prices as of 23 Oct 2026.
Quick Answer
The three tyre, lighting and vehicle component stocks to watch are Apollo Tyres, Varroc Engineering and Sandhar Technologies. Their return on equity ranges from 12.4% to 14.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.9% to 20.6%. Sandhar Technologies leads on both return on equity at 14.9% and revenue growth at 20.6% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Tyre, lighting and vehicle component stocks let investors follow suppliers that fit tyres, lamps, locks and mirrors on vehicles. Apollo Tyres, Varroc Engineering and Sandhar Technologies cover a global tyre maker, a vehicle lighting supplier and a locks and mirrors specialist.
This list covers three tyre, lighting and vehicle component stocks with complete current figures: Apollo Tyres, Varroc Engineering and Sandhar Technologies. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Tyre, Lighting and Vehicle Component Stocks?
Tyre, lighting and vehicle component stocks are listed auto suppliers that make tyres, lighting systems, polymer parts, locks and mirrors. Their earnings depend on vehicle output, content per vehicle and export programmes.
Tyre, Lighting and Vehicle Component Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Apollo Tyres | 384.15 | 24,413 | 14.3 | 19.2 | 12.4 | 0.22 |
| Varroc Engineering | 764.25 | 12,256 | 61.2 | 36.9 | 14.3 | 0.52 |
| Sandhar Technologies | 456.25 | 3,135 | 15.1 | 36.9 | 14.9 | 0.86 |
On valuation, Apollo Tyres and Sandhar Technologies trade at a P/E below the industry P/E, while Varroc Engineering trades above it, which reflects the growth the market already expects. Readers comparing tyre, lighting and vehicle component stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Tyre, Lighting and Vehicle Component Stocks Have a Strong Roadmap in India?
Tyre, lighting and vehicle component stocks have a strong roadmap in India because buyers expect more safety and comfort features, and global vehicle makers are widening their sourcing from Indian suppliers.
- Safety features. Better lighting and locks become standard in more vehicles.
- Global sourcing. Vehicle makers add Indian suppliers to their parts base.
- Premium tyres. Buyers move to higher-grade tyres for newer vehicles.
Why Apollo Tyres Features Among These Tyre, Lighting and Vehicle Component Stocks
Among the tyre, lighting and vehicle component stocks on this list, Apollo Tyres is an Indian tyre maker with plants in India and Europe that sells passenger car, truck and bus, two-wheeler, farm and off-highway tyres under the Apollo and Vredestein brands.
In the June 2026 quarter, revenue grew 13.3% year on year to Rs 7,456 crore. Revenue rose from Rs 21,071 crore in FY22 to Rs 28,604 crore in FY26, a compound annual growth rate of 7.9%.
Net profit grew from Rs 639 crore in FY22 to Rs 1,372 crore in FY26, which works out to a compound annual growth rate of 21.1%. The company has a return on equity of 12.4%, a debt to equity ratio of 0.22 and a market capitalisation of Rs 24,413 crore. The stock trades at a P/E of 14.3, below the industry P/E of 19.2.
Roadmap: The company is growing its premium and radial offerings and using its European presence to serve global customers. A strong dealer network in India supports replacement sales.
What to watch: Follow raw material costs, replacement demand and the performance of the European business.
Why Varroc Engineering Features Among These Tyre, Lighting and Vehicle Component Stocks
Among the global auto supplier shares on this list, Varroc Engineering is a Maharashtra-based automotive component maker with a focus on exterior lighting systems, electrical and electronic parts and polymer products for two-wheeler, passenger car and commercial vehicle makers across the world.
The company has a return on equity of 14.3%, a debt to equity ratio of 0.52 and a market capitalisation of Rs 12,256 crore. The stock trades at a P/E of 61.2, above the industry P/E of 36.9.
Revenue rose from Rs 5,878 crore in FY22 to Rs 8,917 crore in FY26, a compound annual growth rate of 11.0%. Net profit for FY26 was Rs 230 crore, a net margin of 2.6%. In the June 2026 quarter, revenue grew 29.9% year on year to Rs 2,640 crore.
Roadmap: The company is growing its lighting business with advanced LED products and increasing content per vehicle in India and overseas. Orders from vehicle makers, including electric vehicle programmes, give visibility on future volumes.
What to watch: Monitor order wins in lighting and the growth of content per vehicle.
Why Sandhar Technologies Features Among These Tyre, Lighting and Vehicle Component Stocks
Among the three companies on this list, Sandhar Technologies supplies safety systems, locks, mirrors, wheels, aluminium die castings and sheet metal parts to two-wheeler, commercial vehicle and passenger vehicle makers.
Revenue rose from Rs 2,331 crore in FY22 to Rs 4,927 crore in FY26, a compound annual growth rate of 20.6%. Net profit grew from Rs 55.9 crore in FY22 to Rs 199 crore in FY26, which works out to a compound annual growth rate of 37.3%.
In the June 2026 quarter, revenue grew 25.6% year on year to Rs 1,394 crore, while net profit rose 33.1% to Rs 37.3 crore. The company has a return on equity of 14.9%, a debt to equity ratio of 0.86 and a market capitalisation of Rs 3,135 crore. The stock trades at a P/E of 15.1, below the industry P/E of 36.9.
Roadmap: The company supplies leading vehicle makers and has been growing its content per vehicle through new product lines. It has also expanded in aluminium die casting and in electronics and mechatronics.
What to watch: Watch new product ramp-ups and growth in the electric two-wheeler segment.
Apollo Tyres vs Varroc Engineering vs Sandhar Technologies on Key Financials
The table below sets the three tyre, lighting and vehicle component stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Apollo Tyres | 21,071 | 28,604 | 7.9% | 1,372 | 4.8% |
| Varroc Engineering | 5,878 | 8,917 | 11.0% | 230 | 2.6% |
| Sandhar Technologies | 2,331 | 4,927 | 20.6% | 199 | 4.0% |
Sandhar Technologies posts the highest return on equity in this group at 14.9%. Apollo Tyres has the largest FY26 revenue at Rs 28,604 crore, and Sandhar Technologies shows the fastest revenue growth with a 20.6% compound annual rate. A useful habit with tyre, lighting and vehicle component stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Apollo Tyres | 6,580 | 7,456 | 13.3% |
| Varroc Engineering | 2,033 | 2,640 | 29.9% |
| Sandhar Technologies | 1,110 | 1,394 | 25.6% |
Key Risks to Check Before Investing in Tyre, Lighting and Vehicle Component Stocks
Every theme carries risks that deserve a check before any decision. For these tyre, lighting and vehicle component stocks, the main points are: Long-term global auto supplier shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Auto cycle. Vehicle demand can slow with interest rates or fuel prices.
- Input costs. Rubber, resins and metals influence margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter tyre, lighting and vehicle component stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Tyre, Lighting and Vehicle Component Stocks
Tyre, lighting and vehicle component stocks reward investors who follow vehicle output, content per vehicle and export orders together. Apollo Tyres, Varroc Engineering and Sandhar Technologies each have room to expand. Based on the 23 October 2026 close, Apollo Tyres trades at Rs 384.15, Varroc Engineering at Rs 764.25 and Sandhar Technologies at Rs 456.25. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these tyre, lighting and vehicle component stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are tyre, lighting and vehicle component stocks?
Ans. Tyre, lighting and vehicle component stocks are listed auto suppliers that make tyres, lighting systems, polymer parts, locks and mirrors. Their earnings depend on vehicle output, content per vehicle and export programmes. This list looks at three of them, Apollo Tyres, Varroc Engineering and Sandhar Technologies, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which tyre, lighting and vehicle component stocks are covered in this list?
Ans. This list covers Apollo Tyres, Varroc Engineering and Sandhar Technologies. Based on the 23 October 2026 close, Apollo Tyres traded at Rs 384.15, Varroc Engineering at Rs 764.25 and Sandhar Technologies at Rs 456.25. Their return on equity ranges from 12.4% to 14.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.9% to 20.6%.
Why do tyre, lighting and vehicle component stocks have a strong future roadmap in India?
Ans. Tyre, lighting and vehicle component stocks have a strong roadmap in India because buyers expect more safety and comfort features, and global vehicle makers are widening their sourcing from Indian suppliers. The main drivers are as follows. Safety features. Better lighting and locks become standard in more vehicles. Global sourcing. Vehicle makers add Indian suppliers to their parts base. Premium tyres. Buyers move to higher-grade tyres for newer vehicles. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Apollo Tyres performed financially?
Ans. Revenue rose from Rs 21,071 crore in FY22 to Rs 28,604 crore in FY26, a compound annual growth rate of 7.9%. Net profit grew from Rs 639 crore in FY22 to Rs 1,372 crore in FY26, which works out to a compound annual growth rate of 21.1%. In the June 2026 quarter, revenue grew 13.3% year on year to Rs 7,456 crore. The company has a return on equity of 12.4%, a debt to equity ratio of 0.22 and a market capitalisation of Rs 24,413 crore. The stock trades at a P/E of 14.3, below the industry P/E of 19.2. Looking ahead, the company is growing its premium and radial offerings and using its European presence to serve global customers. A strong dealer network in India supports replacement sales.
How has Varroc Engineering performed financially?
Ans. Revenue rose from Rs 5,878 crore in FY22 to Rs 8,917 crore in FY26, a compound annual growth rate of 11.0%. Net profit for FY26 was Rs 230 crore, a net margin of 2.6%. In the June 2026 quarter, revenue grew 29.9% year on year to Rs 2,640 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.52 and a market capitalisation of Rs 12,256 crore. The stock trades at a P/E of 61.2, above the industry P/E of 36.9. Looking ahead, the company is growing its lighting business with advanced LED products and increasing content per vehicle in India and overseas. Orders from vehicle makers, including electric vehicle programmes, give visibility on future volumes.
How has Sandhar Technologies performed financially?
Ans. Revenue rose from Rs 2,331 crore in FY22 to Rs 4,927 crore in FY26, a compound annual growth rate of 20.6%. Net profit grew from Rs 55.9 crore in FY22 to Rs 199 crore in FY26, which works out to a compound annual growth rate of 37.3%. In the June 2026 quarter, revenue grew 25.6% year on year to Rs 1,394 crore, while net profit rose 33.1% to Rs 37.3 crore. The company has a return on equity of 14.9%, a debt to equity ratio of 0.86 and a market capitalisation of Rs 3,135 crore. The stock trades at a P/E of 15.1, below the industry P/E of 36.9. Looking ahead, the company supplies leading vehicle makers and has been growing its content per vehicle through new product lines. It has also expanded in aluminium die casting and in electronics and mechatronics.
What risks should investors check before buying tyre, lighting and vehicle component stocks?
Ans. Investors should check a few risks before buying tyre, lighting and vehicle component stocks. Auto cycle. Vehicle demand can slow with interest rates or fuel prices. Input costs. Rubber, resins and metals influence margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of tyre, lighting and vehicle component stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
