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APL Apollo Tubes

APLAPOLLO NSE
₹2,199.80 +47.00 (+2.18%)
P/E
49.69
View as Markdown
MCP
Close 4 Nov 2026 ₹2,199.80 +414.10 +23.2% 1Y
Start ₹1,785.70

Key Fundamentals

MidcapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
31.80%
Debt to Equity
0.09
EPS (TTM)
₹44.27
Book Value
₹206.74
Market Cap
—
P/E (TTM)
49.69
P/B
10.64
ROE
25.40%
Dividend Yield
0.39%
EBITDA
₹1,914 Cr
52W High
₹2,301.40
52W Low
₹1,690.00
Day Range
₹2,128.60 – ₹2,199.80
Volume
4,65,935

Peer Comparison

Industrials › Industrial Products › Iron & Steel Products

APL Apollo Tubes peer comparison
Welspun Corp
₹2,400.0027.41₹60,980 Cr5.960.22%19.40%22.90%₹17,300 Cr₹2,319 Cr
APL Apollo Tubes (this company)
₹2,199.8049.69₹60,246 Cr10.640.39%25.40%31.80%₹23,065 Cr₹1,229 Cr
Shyam Metalics & Energy
₹1,231.4030.60₹34,478 Cr2.780.15%9.70%13.00%₹19,584 Cr₹1,121 Cr
Ratnamani Metals & Tubes
₹2,449.4039.67₹17,025 Cr4.180.42%12.60%17.90%₹4,314 Cr₹514 Cr
Jindal SAW
₹253.2229.51₹15,754 Cr1.280.81%8.20%10.40%₹18,501 Cr₹498 Cr
Usha Martin
₹486.0029.21₹14,245 Cr4.490.81%15.10%19.50%₹3,837 Cr₹508 Cr
Gallantt Ispat
₹529.1529.28₹12,939 Cr3.660.38%15.60%18.20%₹4,437 Cr₹436 Cr
Median 7 companies₹1,231.4029.51₹17,025 Cr4.180.39%15.10%18.20%₹17,300 Cr₹514 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 100/100

Category scores

Quality
72
Strong
Returns, margins, earnings quality 22% weight
Valuation
55
Average
Cheap vs sector & own history 24% weight
Growth
29
Poor
Sales & profit trajectory 9% weight
Financial Health
48
Average
Solvency, leverage, coverage 9% weight
Momentum
44
Weak
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 27.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.5%

Weaknesses

1
  • Stock is trading at 11.3 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2512
OscillatorsNeutral252
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
55.72
Neutral
MACD (12,26,9)
8.26
Bullish
SMA (50)
2,163.52
Bullish
SMA (200)
2,015.28
Bullish

As of

Analyst Rating

Based on 17 analysts
BUY82%

14 of 17 analysts rate Buy, 2 Hold, 1 Sell.

As of

BUY
14
82%
HOLD
2
12%
SELL
1
6%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+18.71%
5Y+22.11%
3Y+12.60%
1Y+11.55%
TTM+10.43%

Net profit

Net profit growth by window
10Y+28.11%
5Y+24.14%
3Y+23.28%
1Y+58.92%
TTM+53.43%

Operating cash flow

Operating cash flow growth by window
10Y+69.10%
5Y+16.57%
3Y+44.92%
1Y+72.52%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.04 pp
5Y−0.16 pp
3Y+1.51 pp
1Y+2.03 pp
TTM+1.90 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹3,924 Cr
Mar 2018₹5,335 Cr
Mar 2019₹7,152 Cr
Mar 2020₹7,723 Cr
Mar 2021₹8,500 Cr
Mar 2022₹13,063 Cr
Mar 2023₹16,166 Cr
Mar 2024₹18,119 Cr
Mar 2025₹20,690 Cr
Mar 2026₹23,079 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹152 Cr
Mar 2018₹158 Cr
Mar 2019₹148 Cr
Mar 2020₹256 Cr
Mar 2021₹408 Cr
Mar 2022₹619 Cr
Mar 2023₹642 Cr
Mar 2024₹732 Cr
Mar 2025₹757 Cr
Mar 2026₹1,203 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹624 Cr +51.0% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

APL Apollo Tubes Ltd trades at a price of ₹2,152.8 as of 2026-11-03 with a market cap of ₹59,571.61 crore and a P/E (TTM) of 48.63. The company is virtually debt-free with a debt-to-equity ratio of 0.09 and has delivered a 27% compounded profit CAGR over five years, though the stock trades at 10.41 times book value, reflecting a significant premium to its net asset base.

Bull Case 8
  • Virtually debt-free balance sheet with a debt-to-equity ratio of just 0.09, providing financial flexibility and low interest burden.
  • Strong long-term profit compounding at 27% CAGR over five years and 26% over ten years, demonstrating consistent earnings growth.
  • Robust return on equity of 22.71% and return on capital employed of 28.21% as of 2026-11-03, indicating efficient capital allocation.
  • TTM profit growth of 53% signals a sharp acceleration in earnings momentum compared to the longer-term trend.
  • Ten-year ROE has averaged 23%, reflecting durable profitability across business cycles rather than a one-off spike.
  • Stock has delivered a 37% CAGR over ten years, significantly outperforming broader market indices over the same horizon.
  • Consistent dividend payout of 20.5% demonstrates commitment to returning capital to shareholders while retaining enough for growth.
  • Compounded sales growth of 22% over five years and 19% over ten years shows sustained top-line expansion in the structural steel tubes segment.
Bear Case 8
  • P/E (TTM) of 48.63 is elevated for an industrial products company, leaving limited room for earnings disappointment.
  • Price-to-book ratio of 10.41 means the stock trades at over ten times its book value, pricing in significant future growth.
  • Three-year stock CAGR of just 7% versus a ten-year CAGR of 37% suggests recent returns have lagged the long-term trend, hinting at possible valuation fatigue.
  • TTM sales growth of 10% is notably slower than the five-year compounded sales growth of 22%, indicating a deceleration in top-line momentum.
  • Dividend yield of 0.39% offers minimal income support relative to the stock's premium valuation.
  • The stock is trading 6.5% below its 52-week high of ₹2,301.4, and any broader market correction could pressure a high-multiple industrial name disproportionately.
  • Three-year compounded sales growth of 13% versus five-year growth of 22% shows a slowing revenue trajectory over the more recent period.
  • With a market cap of ₹59,571.61 crore and an EPS (TTM) of ₹44.27, the stock's premium pricing assumes continued high-teens-to-twenties earnings growth; any miss could trigger a sharp de-rating.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: APL Apollo Tubes delivered a strong Q2 FY27 with profit, EBITDA, and margins all beating consensus estimates, driven by operational leverage and healthy demand. Revenue growth of 26.6% was robust but fell slightly short of expectations, hinting at minor pricing or volume headwinds. Overall the trend is clearly improving, with margin expansion to 8.2% signaling sustained pricing power. Continued execution on this trajectory should support sentiment, though investors will watch whether revenue growth can close the gap with bottom-line outperformance.

Headwinds 1
  • Revenue misses street estimate Oct 26

    Q2 FY27 revenue of ₹7,001.7 crore came in below the consensus estimate of ₹7,219 crore, suggesting volume or pricing softness despite overall growth.

Positives 4
  • Q2 profit jumps 26.8% YoY Oct 26

    Net profit rose 26.8% YoY to ₹382.4 crore from ₹301.5 crore, beating the street estimate of ₹363 crore.

  • EBITDA surges 29.3% YoY Oct 26

    EBITDA grew 29.3% to ₹578 crore versus an estimate of ₹536 crore, with margin expanding to 8.2% from 8.1% YoY and well above the 7.4% estimate.

  • Revenue grows 26.6% YoY Oct 26

    Revenue increased 26.6% to ₹7,001.7 crore from ₹5,531.3 crore in Q2 FY26, reflecting strong demand in the tubes and pipes segment.

Quarterly Results

₹ Cr
APLAPOLLO quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,545
4,630
4,178
4,766
4,974
4,774
5,433
5,509
5,170
5,206
5,982
6,269
5,607
Expenses
4,238
4,305
3,898
4,485
4,673
4,636
5,087
5,095
4,798
4,759
5,511
5,758
5,195
Operating Profit
307
325
280
280
302
138
346
414
372
447
472
511
411
OPM %
7%
7%
7%
6%
6%
2.9%
6%
8%
7%
9%
8%
8%
7%
Other Income
22
20
15
19
25
15
22
35
26
25
25
36
40
Interest
27
27
28
31
28
36
37
32
33
28
33
32
39
Depreciation
41
41
47
47
46
47
50
58
54
58
59
59
59
PBT
261
277
219
221
252
70
280
359
310
386
404
457
352
Tax %
26%
27%
24%
23%
23%
23%
23%
18%
23%
22%
23%
22%
25%
Net Profit
194
203
166
170
193
54
217
293
237
302
310
354
263
EPS (₹)
6.98
7.32
5.96
6.14
6.96
1.94
7.82
10.56
8.55
10.86
11.17
12.76
9.48

Profit & Loss

₹ Cr
APLAPOLLO profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,090
4,154
3,924
5,335
7,152
7,723
8,500
13,063
16,166
18,119
20,690
23,079
23,065
Expenses
2,908
3,872
3,590
4,964
6,759
7,246
7,821
12,118
15,143
16,926
19,490
21,271
21,223
Operating Profit
182
282
334
371
393
478
679
946
1,022
1,193
1,199
1,808
1,841
OPM %
6%
7%
9%
7%
5%
6%
8%
7%
6%
7%
6%
8%
8%
Other Income
4
−15
5
8
12
22
36
40
46
74
96
106
126
Interest
66
70
72
81
113
107
66
44
67
113
133
125
131
Depreciation
22
34
51
53
64
96
103
109
138
176
201
231
236
PBT
98
163
216
244
227
296
546
832
863
978
960
1,557
1,600
Tax %
35%
38%
30%
35%
35%
14%
25%
26%
26%
25%
21%
23%
—
Net Profit
64
101
152
158
148
256
408
619
642
732
757
1,203
1,229
EPS (₹)
2.72
4.29
6.45
6.66
6.22
9.58
14.42
24.73
23.14
26.39
27.28
43.33
44.27
Div. Payout %
22%
23%
19%
21%
23%
0%
0%
14%
22%
21%
21%
20%
—

Balance Sheet

₹ Cr
APLAPOLLO balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
23
23
24
24
24
25
25
50
55
56
56
56
Reserves
472
544
680
814
940
1,331
1,670
2,414
2,950
3,549
4,153
5,241
Borrowings
482
651
594
775
858
834
520
581
873
1,144
634
498
Other Liabilities
345
442
547
568
952
1,075
1,184
1,407
1,973
2,438
2,753
3,039
Total Liabilities
1,323
1,660
1,845
2,181
2,774
3,266
3,399
4,452
5,852
7,187
7,596
8,833
Fixed Assets
614
666
670
886
1,034
1,708
1,736
1,837
2,580
3,281
3,668
4,060
CWIP
24
32
122
46
27
10
108
504
374
203
336
328
Investments
19
13
0
1
49
2
1
91
96
103
126
49
Other Assets
666
949
1,052
1,248
1,663
1,546
1,554
2,020
2,801
3,600
3,467
4,396
Total Assets
1,323
1,660
1,845
2,181
2,774
3,266
3,399
4,452
5,852
7,187
7,596
8,833

Cash Flow

₹ Cr
APLAPOLLO cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
315
11
315
91
358
510
977
652
691
1,112
1,219
2,103
Investing
−191
−93
−170
−165
−264
−435
−647
−530
−876
−916
−380
−1,387
Financing
−124
81
−145
79
−53
−78
−359
26
143
27
−815
−440
Net Cash Flow
0
0
0
5
41
−3
−28
148
−41
222
24
275
Free Cash Flow
134
−99
144
−77
132
208
697
65
−151
450
562
1,453
CFO/EBITDA
177
19
113
41
108
124
162
90
89
111
117
133

Ratios

APLAPOLLO financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
21
19
27
30
28
23
6
10
3
3
5
6
Inventory Days
44
61
53
47
45
44
39
28
39
38
33
27
Days Payable
28
26
44
30
40
42
40
34
42
46
46
44
Cash Conversion Cycle
36
54
36
47
33
24
4
3
0
−5
−8
−12
Working Capital Days
−3
7
−3
0
−1
8
−6
0
1
10
0
2
ROCE %
17%
24%
23%
22%
20%
20%
26%
32%
27%
25%
22%
32%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view APL Apollo Tubes insights

66 extracted metrics across FY07–FY27.

Shareholding Pattern

As of Sep 2026

  • FIIs 34.14%
  • Promoters 28.18%
  • DIIs 20.82%
  • Others 10.18%
  • Public 6.68%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about APL Apollo Tubes

What does APL Apollo Tubes Ltd do?
APL Apollo Tubes Limited (APL Apollo) is one of India’s leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company runs 10 manufacturing facilities churning out over 1,500 varieties of MS Black Pipes, Galvanised Tubes, Pre-Galvanised Tubes, Structural ERW Steel Tubes and…
Where is APL Apollo Tubes Ltd (APLAPOLLO) listed?
APL Apollo Tubes Ltd trades as APLAPOLLO on the NSE and under code 533758 on the BSE.
Which sector does APL Apollo Tubes Ltd belong to?
APL Apollo Tubes Ltd is classified under the Industrial Products sector, in the Iron & Steel Products industry.
What is the PE ratio of APL Apollo Tubes Ltd?
APL Apollo Tubes Ltd trades at a PE ratio of 49.69 as of 4 Nov 2026, on earnings per share of ₹44.27, against a book value of ₹206.74 per share.
What is the 52-week high and low of APL Apollo Tubes Ltd?
Over the last 52 weeks APL Apollo Tubes Ltd has traded between ₹1,690 and ₹2,301.4 as of 4 Nov 2026.
Does APL Apollo Tubes Ltd pay dividends?
APL Apollo Tubes Ltd has a dividend yield of 0.39%.
What is the Return on Equity (ROE) of APL Apollo Tubes Ltd?
APL Apollo Tubes Ltd reported a return on equity of 25.40%. Its debt-to-equity ratio is 0.09.

Company Information

APL Apollo Tubes Limited (APL Apollo) is one of India’s leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company runs 10 manufacturing facilities churning out over 1,500 varieties of MS Black Pipes, Galvanised Tubes, Pre-Galvanised Tubes, Structural ERW Steel Tubes and Hollow Sections to serve industry applications like urban infrastructures, housing, irrigation, solar plants, greenhouses and engineering.

Website aplapollo.com
CEO Mr. Sanjay Gupta
Employees 3,382
Listed 14 Dec 2011
Face Value ₹2

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