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Apollo Pipes Ltd.
(APOLLOPIPE)
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Rating:58Neutral
Price Target:
₹591.00
▲(104.18% Upside)
Action:Reiterated
Date:08/26/26
The score is held back primarily by weakening financial performance—especially the sharp margin decline and sustained negative free cash flow—despite a low-leverage balance sheet. Technicals are a key offset, with a strong uptrend and positive momentum, though overbought readings add near-term risk. Valuation is difficult to assess due to a negative P/E and a low dividend yield.
Positive Factors
Diversified end markets
Serving residential, commercial and industrial uses across several water and building applications gives Apollo Pipes multiple demand channels. This breadth can support long-term volume resilience and reduce reliance on any single end market as construction and water-management needs evolve.
Negative Factors
Recent revenue decline
The latest annual revenue decline interrupts the company’s earlier scale-up and indicates that demand or market execution has weakened recently. If this persists, slower volume growth could reduce operating leverage, limit expansion benefits, and make recovery in earnings more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified end markets
Serving residential, commercial and industrial uses across several water and building applications gives Apollo Pipes multiple demand channels. This breadth can support long-term volume resilience and reduce reliance on any single end market as construction and water-management needs evolve.
Read all positive factors
Apollo Pipes Ltd. (APOLLOPIPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹25.44B
Dividend Yield0.12%
Average Volume (3M)72.34K
Price to Earnings (P/E)―
Beta (1Y)0.17
Revenue Growth-1.99%
EPS Growth-132.14%
CountryIN
Employees808
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Miscellaneous
Share Statistics
EPS (TTM)-2.09
Shares Outstanding44,048,206
10 Day Avg. Volume13,724
30 Day Avg. Volume72,336
Financial Highlights & Ratios
PEG Ratio-4.56
Price to Book (P/B)3.58
Price to Sales (P/S)2.65
P/FCF Ratio-23.39
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)6.58
Revenue Forecast (FY)₹13.75B
Apollo Pipes Ltd. Business Overview & Revenue Model
Company Description
Apollo Pipes Limited, established in 1985 and based in New Delhi, India, operates both domestically and internationally, specializing in the production and distribution of polyvinyl chloride (PVC) pipes and fittings under its APL Apollo brand. The...
How the Company Makes Money
Apollo Pipes primarily makes money by manufacturing and selling plastic pipes and fittings. Its revenue is generated through product sales across multiple application categories (e.g., plumbing/sanitation, water supply, drainage/sewerage, agricult...
Apollo Pipes Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
73
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.25B | 11.05B | 11.82B | 9.82B | 9.15B | 7.81B |
| Gross Profit | 1.56B | 1.71B | 3.54B | 1.25B | 2.22B | 1.92B |
| EBITDA | 584.93M | 769.08M | 956.70M | 997.54M | 705.60M | 972.75M |
| Net Income | -92.19M | 74.86M | 326.48M | 428.23M | 239.10M | 497.60M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 12.86B | 12.29B | 10.11B | 6.62B | 5.44B |
| Cash, Cash Equivalents and Short-Term Investments | 823.42M | 838.79M | 1.32B | 545.69M | 340.20M | 419.77M |
| Total Debt | 0.00 | 1.24B | 918.27M | 820.25M | 437.20M | 387.18M |
| Total Liabilities | -8.93B | 3.93B | 4.37B | 4.37B | 2.05B | 1.39B |
| Stockholders Equity | 8.93B | 8.19B | 7.93B | 5.74B | 4.57B | 4.05B |
Cash Flow | ||||||
| Free Cash Flow | -1.21B | -1.25B | -1.11B | 261.33M | -40.30M | -59.98M |
| Operating Cash Flow | 300.99M | 263.66M | 286.65M | 1.25B | 687.30M | 363.27M |
| Investing Cash Flow | -1.34B | -1.36B | -1.51B | -2.14B | -679.60M | -367.48M |
| Financing Cash Flow | 504.31M | 555.39M | 2.05B | -636.88M | -78.00M | -299.98M |
Apollo Pipes Ltd. Technical Analysis
Neutral
289.45
Price Trends
540.22
Positive
512.34
Positive
423.10
Positive
Market Momentum
14.13
Positive
46.58
Neutral
2.53
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APOLLOPIPE, the sentiment is Neutral. The current price of 289.45 is below the 20-day moving average (MA) of 599.09, below the 50-day MA of 540.22, and below the 200-day MA of 423.10, indicating a neutral trend. The MACD of 14.13 indicates Positive momentum. The RSI at 46.58 is Neutral, neither overbought nor oversold. The STOCH value of 2.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:APOLLOPIPE.
Apollo Pipes Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹445.80B | 43.19 | ― | 1.03% | 8.71% | 16.02% | |
67 Neutral | ₹395.22B | 68.08 | ― | 0.27% | 16.79% | 18.82% | |
66 Neutral | ₹97.23B | 15.77 | ― | 1.28% | -2.24% | 54.85% | |
64 Neutral | ₹31.06B | 30.33 | ― | 0.36% | 5.10% | 347.36% | |
63 Neutral | ₹6.89B | 14.09 | ― | 1.17% | 6.12% | -27.41% | |
58 Neutral | ₹25.44B | -272.42 | ― | 0.12% | -1.99% | -132.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:APOLLOPIPE
Apollo Pipes Ltd.
568.50
171.50
43.20%
IN:ASTRAL
Astral Limited
1,460.00
23.44
1.63%
IN:FINPIPE
Finolex Industries Limited
157.05
-55.00
-25.94%
IN:PPL
Prakash Pipes Limited
291.15
-24.87
-7.87%
IN:PRINCEPIPE
Prince Pipes And Fittings Ltd
279.60
-45.66
-14.04%
IN:SUPREMEIND
Supreme Industries Limited
3,500.65
-808.06
-18.75%
Apollo Pipes Ltd. Corporate Events
Apollo Pipes Seeks Shareholder Nod for Capital Expansion and Preferential Warrants
Aug 31, 2026
Apollo Pipes Limited has initiated a postal ballot process via remote e-voting to seek shareholder approval for key capital-related resolutions, in line with the Companies Act and SEBI listing regulations. The company will distribute the notice an...
Apollo Pipes Confirms SEBI-Compliant Processing of Dematerialized Shares
Jul 7, 2026
Apollo Pipes Limited operates in the Indian pipes and infrastructure materials sector, with its equity shares listed on both the National Stock Exchange of India and BSE Limited. The company’s securities are held and transacted in dematerial...
Apollo Pipes Closes Trading Window Ahead of June-Quarter Results
Jun 24, 2026
Apollo Pipes Ltd. has announced that its trading window for dealing in the company’s equity shares will be closed from 1 July 2026, in line with its internal code of conduct and the SEBI (Prohibition of Insider Trading) Regulations, 2015. Th...
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.