---
title: "Apollo Tricoat Tubes Ltd(Merged) (992580) — Share Price, Financials & Analysis"
symbol: "992580"
company: "Apollo Tricoat Tubes Ltd(Merged)"
canonical: "https://tapetide.com/stocks/992580"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T18:27:49.318Z"
---

# Apollo Tricoat Tubes Ltd(Merged) (992580)

Canonical page: https://tapetide.com/stocks/992580

## Company

- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** beststeel.co.in

## About

Headquartered in New Delhi, India, Apollo TriCoat is part of the APL Apollo Group. What makes Apollo different is its unusual approach to the business. The Company is not into conventional products, and remains focused on absorbing contemporary technology from various geographies to manufacture new-age products, which are often the first to be introduced to India. [1]

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 150% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.2%
- Company's median sales growth is 85.5% of last 10 years

### Weaknesses

- Stock is trading at 14.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -15% | 275% | 150% |
| revenue growth | 56% | 625% | 114% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 154 | 229 | 229 | 171 | 330 | 503 | 468 | 582 | 600 | 720 | 830 | 794 |
| Expenses | 138 | 201 | 205 | 153 | 293 | 446 | 417 | 512 | 550 | 677 | 784 | 748 |
| Operating Profit | 15 | 28 | 24 | 18 | 37 | 57 | 51 | 70 | 50 | 43 | 46 | 45 |
| OPM % | 10 | 12 | 11 | 11 | 11 | 11 | 11 | 12 | 8 | 6 | 6 | 6 |
| Other Income | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 2 |
| Interest | 1 | 2 | 3 | 3 | 2 | 3 | 2 | 2 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 5 | 5 | 5 | 5 |
| Profit before tax | 13 | 24 | 18 | 12 | 32 | 51 | 45 | 64 | 45 | 37 | 41 | 41 |
| Tax % | 27 | 23 | 37 | 25 | 26 | 25 | 23 | 25 | 25 | 26 | 25 | 26 |
| Net Profit | 9 | 18 | 11 | 9 | 24 | 38 | 34 | 48 | 33 | 28 | 31 | 31 |
| EPS in Rs | 1.55 | 2.96 | 1.83 | 1.47 | 3.92 | 6.23 | 5.65 | 7.84 | 5.5 | 4.56 | 5.07 | 5.05 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 50 | 60 | 17 | 61 | 191 | 7 | 663 | 1473 | 2732 | 2944 |
| Expenses | 49 | 60 | 16 | 58 | 179 | 7 | 589 | 1309 | 2523 | 2760 |
| Operating Profit | 1 | 1 | 0 | 3 | 12 | 0 | 74 | 164 | 209 | 184 |
| OPM % | 1.3 | 1.1 | 1.1 | 6 | 6 | -0.4 | 11 | 11 | 8 | 6 |
| Other Income | 0 | 1 | 1 | 1 | 0 | 4 | 1 | 2 | 2 | 4 |
| Interest | 0 | 1 | 1 | 2 | 2 | 0 | 6 | 10 | 5 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 17 | 19 | 20 |
| Profit before tax | 1 | 0 | 0 | 2 | 10 | 4 | 59 | 139 | 187 | 164 |
| Tax % | 27 | -189 | 100 | 37 | 29 | 28 | 29 | 25 | 25 | — |
| Net Profit | 1 | 0 | 0 | 1 | 7 | 3 | 42 | 105 | 140 | 123 |
| EPS in Rs | 0.14 | 0.07 | 0 | 0.39 | 1.36 | 0.48 | 6.95 | 17.27 | 22.97 | 20.18 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.2 | 4 | 4 | 4 | 4 | 5 | 6 | 6 | 6 | 12 |
| Reserves | -1 | -1 | -1 | -1 | 1 | 107 | 127 | 193 | 298 | 432 |
| Borrowings | 6 | 2 | 12 | 16 | 33 | 0 | 56 | 113 | 62 | 49 |
| Other Liabilities | 1 | 6 | 6 | 0 | 2 | 20 | 33 | 143 | 90 | 214 |
| Total Liabilities | 6 | 10 | 21 | 19 | 39 | 133 | 222 | 455 | 456 | 707 |
| Fixed Assets | 0 | 0 | 0 | 15 | 25 | 25 | 95 | 302 | 337 | 386 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 7 | 60 | 1 | 12 | 9 |
| Investments | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Assets | 4 | 10 | 21 | 4 | 15 | 101 | 67 | 152 | 107 | 311 |
| Total Assets | 6 | 10 | 21 | 19 | 39 | 133 | 222 | 455 | 456 | 707 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | 1 | -10 | 0 | -8 | -54 | 48 | 63 | 115 | 238 |
| Cash from Investing Activity | 7 | 0 | 1 | 0 | -10 | -7 | -128 | -134 | -50 | -177 |
| Cash from Financing Activity | -8 | -1 | 9 | 0 | 19 | 67 | 73 | 76 | -60 | -18 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 1 | 7 | -8 | 5 | 5 | 43 |
| Free Cash Flow | 2 | 1 | -10 | 0 | -18 | -61 | -82 | -71 | 65 | 175 |
| CFO/OP | -25 | 122 | -1560 | 0 | -228 | -437 | -163767 | 97 | 88 | 117 |

### Ratios

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 55 | 98 | 46 | 15 | 13 | 78 | 21 | 3 | 5 |
| Inventory Days | 0 | 4 | 0 | 0 | — | 2 | 454 | 52 | 20 | 13 |
| Days Payable | — | 42 | — | — | — | 1 | 22 | 76 | 10 | 19 |
| Cash Conversion Cycle | — | 17 | 98 | 46 | 15 | 14 | 510 | -3 | 12 | -2 |
| Working Capital Days | — | 27 | 64 | -21 | 60 | 76 | -1236 | 1 | 6 | -6 |
| ROCE % | 0 | 16 | 8 | 6 | 14 | 16 | 2 | 26 | 44 | 45 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 39.04% | 25.54% | 61.37% | 62.53% | 55.82% | 55.82% | 55.82% |
| FIIs | 0.59% | 0.46% | 0.38% | 4.22% | 1.54% | 2.03% | 2.39% |
| DIIs | 0% | 0% | 0% | 1.85% | 1.58% | 1.68% | 2.42% |
| Public | 60.36% | 74% | 38.25% | 31.4% | 41.06% | 40.47% | 39.37% |
| No. of Shareholders | 956 | 2913 | 3706 | 8060 | 23166 | 39942 | 40912 |

### Quarterly

| Category | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 61.77% | 62.53% | 62.56% | 62.56% | 62.54% | 55.82% | 55.82% | 55.82% | 55.82% | 55.82% | 55.82% | 55.82% |
| FIIs | 4.04% | 4.22% | 4.25% | 3.39% | 1.04% | 1.54% | 1.79% | 1.82% | 2.07% | 2.03% | 2.29% | 2.39% |
| DIIs | 1.65% | 1.85% | 1.75% | 1.44% | 1.55% | 1.58% | 1.44% | 1.43% | 1.52% | 1.68% | 2.14% | 2.42% |
| Public | 32.54% | 31.4% | 31.44% | 32.61% | 34.87% | 41.06% | 40.95% | 40.93% | 40.59% | 40.47% | 39.75% | 39.37% |
| No. of Shareholders | 4220 | 8060 | 12472 | 13162 | 19884 | 23166 | 25957 | 39842 | 39767 | 39942 | 39510 | 40912 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 99.99 | Sell |
| EMA (10) | 99.58 | Sell |
| SMA (20) | 103.44 | Sell |
| EMA (20) | 102.07 | Sell |
| SMA (50) | 108.73 | Sell |
| EMA (50) | 107.9 | Sell |
| SMA (100) | 118.24 | Sell |
| EMA (100) | 117.57 | Sell |
| SMA (200) | 133.22 | Sell |
| EMA (200) | 146.03 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 39.19 | Neutral |
| MACD (12,26,9) | -3.08 | Sell |
| Stochastic (14,3,3) | 17.18 | Buy |
| ADX (14) | 17.56 | Neutral |
| Williams %R (14) | -76.52 | Neutral |
| ATR (14) | 6.64 | High Volatility |
| ROC (12) | -11.78 | Sell |
| Stoch RSI (14) | 0.55 | Buy |
| UO (7,14,28) | 56.42 | Neutral |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2021 | [Concall - Oct 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7d2b87e2-43e3-4505-a629-62e2e708e47d.pdf) |
| Oct 2021 | [Concall - Oct 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d2b87e2-43e3-4505-a629-62e2e708e47d.pdf) |
| Oct 2019 | [Concall - Oct 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2485ce0e-b765-4adb-ac14-ce0ccd37f3d9.pdf) |
| Oct 2019 | [Concall - Oct 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2485ce0e-b765-4adb-ac14-ce0ccd37f3d9.pdf) |
| Mar 2019 | [Concall - Mar 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6eaa7213-af94-4d76-80b2-6ad0bf7c054d.pdf) |
| Mar 2019 | [Concall - Mar 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6eaa7213-af94-4d76-80b2-6ad0bf7c054d.pdf) |
| Jan 2022 | [Concall - Jan 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d20bf6ae-b809-48ea-8877-8a1326d34f42.pdf) |
| Jan 2022 | [Concall - Jan 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d20bf6ae-b809-48ea-8877-8a1326d34f42.pdf) |
| Jan 2020 | [Concall - Jan 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=98a1c96a-8db0-4697-b99a-5d854d5555ea.pdf) |
| Jan 2020 | [Concall - Jan 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/98a1c96a-8db0-4697-b99a-5d854d5555ea.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/75501538566.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/69396538566.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/66471538566_08_09_20.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/538566/5385660314.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:27:49.318Z.