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APL Apollo Tubes Limited
(APLAPOLLO)
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Rating:76Outperform
Price Target:
₹2,465.00
▲(9.12% Upside)
Action:Upgraded
Date:08/09/26
The score is driven primarily by strong financial performance (2026 profitability improvement, low leverage, solid ROE) and supportive technical momentum (price above major moving averages with positive MACD). This is tempered by expensive valuation (high P/E and low yield) and some historical cyclicality in margins and free cash flow.
Positive Factors
Revenue and profit growth
Revenue has compounded strongly from 2021 to 2026, while 2026 growth and materially higher gross and operating margins lifted net income. This combination indicates expanding scale and improving execution, supporting continued reinvestment and stronger earnings capacity over the next several quarters.
Negative Factors
Cyclical margins and steel spreads
Margins have varied across years, and the company’s earnings depend on the spread between steel input costs and realized selling prices. This cyclicality can make profitability less predictable, with operating leverage amplifying the effect of changes in demand or pricing.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit growth
Revenue has compounded strongly from 2021 to 2026, while 2026 growth and materially higher gross and operating margins lifted net income. This combination indicates expanding scale and improving execution, supporting continued reinvestment and stronger earnings capacity over the next several quarters.
Read all positive factors
APL Apollo Tubes Limited (APLAPOLLO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹584.50B
Dividend Yield0.4%
Average Volume (3M)40.26K
Price to Earnings (P/E)47.8
Beta (1Y)1.06
Revenue Growth9.64%
EPS Growth53.35%
CountryIN
Employees2,682
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)44.26
Shares Outstanding277,658,420
10 Day Avg. Volume24,593
30 Day Avg. Volume40,264
Financial Highlights & Ratios
PEG Ratio0.76
Price to Book (P/B)10.15
Price to Sales (P/S)2.33
P/FCF Ratio40.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)53.13
Revenue Forecast (FY)₹271.76B
APL Apollo Tubes Limited Business Overview & Revenue Model
Company Description
APL Apollo Tubes Limited is an Indian manufacturer and distributor specializing in structural steel tubes and pipes. The company offers a diverse product portfolio, including structural tubes engineered for various applications such as constructio...
How the Company Makes Money
APL Apollo Tubes primarily makes money by manufacturing and selling finished steel tubular products (steel tubes and pipes) in India and, to a lesser extent, in export markets. Its core revenue stream is the sale of these value-added steel tube pr...
APL Apollo Tubes Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 227.31B | 230.79B | 199.96B | 175.07B | 156.74B | 126.25B |
| Gross Profit | 30.36B | 29.69B | 16.41B | 15.02B | 13.24B | 11.57B |
| EBITDA | 19.27B | 19.14B | 12.81B | 12.58B | 10.62B | 9.80B |
| Net Income | 12.29B | 12.03B | 7.57B | 7.32B | 6.42B | 6.19B |
Balance Sheet | ||||||
| Total Assets | 93.46B | 88.33B | 75.96B | 71.87B | 58.52B | 44.52B |
| Cash, Cash Equivalents and Short-Term Investments | 18.36B | 17.30B | 9.47B | 11.41B | 5.00B | 1.69B |
| Total Debt | 4.29B | 4.98B | 6.34B | 11.44B | 8.73B | 5.81B |
| Total Liabilities | 37.67B | 35.37B | 33.88B | 35.82B | 28.46B | 19.88B |
| Stockholders Equity | 55.79B | 52.97B | 42.09B | 36.05B | 30.06B | 22.64B |
Cash Flow | ||||||
| Free Cash Flow | 13.71B | 13.41B | 4.91B | 4.17B | -1.72B | 550.60M |
| Operating Cash Flow | 20.67B | 20.38B | 12.13B | 11.12B | 6.90B | 6.52B |
| Investing Cash Flow | -14.17B | -14.45B | -3.75B | -9.16B | -8.76B | -5.30B |
| Financing Cash Flow | -3.79B | -3.22B | -8.15B | 265.50M | 1.43B | 260.30M |
APL Apollo Tubes Limited Technical Analysis
Neutral
2259.00
Price Trends
2111.93
Negative
1964.22
Positive
1985.43
Positive
Market Momentum
-5.23
Positive
46.38
Neutral
25.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APLAPOLLO, the sentiment is Neutral. The current price of 2259 is above the 20-day moving average (MA) of 2157.74, above the 50-day MA of 2111.93, and above the 200-day MA of 1985.43, indicating a neutral trend. The MACD of -5.23 indicates Positive momentum. The RSI at 46.38 is Neutral, neither overbought nor oversold. The STOCH value of 25.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:APLAPOLLO.
APL Apollo Tubes Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹584.50B | 47.77 | ― | 0.40% | 9.64% | 53.35% | |
68 Neutral | ₹697.63B | 30.14 | ― | 0.19% | 20.21% | 14.36% | |
68 Neutral | ₹172.44B | 26.33 | ― | 0.74% | -8.57% | -62.05% | |
66 Neutral | ₹45.38B | 14.55 | ― | 2.40% | 11.69% | 8.23% | |
65 Neutral | ₹176.47B | 40.86 | ― | 0.40% | -16.30% | -24.14% | |
59 Neutral | ₹42.19B | 40.56 | ― | 0.07% | 21.73% | 13.47% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:APLAPOLLO
APL Apollo Tubes Limited
2,105.10
369.03
21.26%
IN:JINDALSAW
Jindal Saw Limited
269.65
66.52
32.75%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,517.75
205.48
8.89%
IN:SURYAROSNI
Surya Roshni Limited
208.50
-66.71
-24.24%
IN:VENUSPIPES
Venus Pipes & Tubes Ltd.
2,036.55
724.68
55.24%
IN:WELCORP
Welspun Corp Limited
2,644.65
1,804.24
214.69%
APL Apollo Tubes Limited Corporate Events
APL Apollo Closes Trading Window Ahead of September Quarter Results
Sep 25, 2026
APL Apollo Tubes Limited has notified the stock exchanges that its trading window for dealing in company securities will be closed from 1 October 2026 until 48 hours after the announcement of its unaudited consolidated and standalone financial res...
APL Apollo Tubes Completes Dispatch of 41st AGM Notice and FY26 Report
Aug 23, 2026
APL Apollo Tubes Limited has completed the dispatch of the notice for its 41st Annual General Meeting, to be held on 15 September 2026, together with the annual report for FY 2025-26 and instructions for remote e-voting. The company announced the ...
APL Apollo Sets AGM Date and Record Date for Final Dividend
Aug 19, 2026
APL Apollo Tubes Limited, a listed player in the steel tubes and structural steel products market, serves construction, infrastructure, and industrial customers and is traded on both NSE and BSE, indicating its broad investor base and role in Indi...
APL Apollo Publishes Q1 FY27 Unaudited Results in Newspapers
Aug 2, 2026
APL Apollo Tubes Limited has published newspaper advertisements detailing its unaudited financial results for the quarter ended June 30, 2026, in The Financial Express and Jansatta. The company has provided a QR code and web link in the ads to fac...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.