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APL Apollo Sets Sep 8, 2026 Record Date for ₹8.50/Share Final Dividend
APL Apollo Tubes Limited has fixed Tuesday, September 8, 2026, as the record date for determining shareholder eligibility for its final dividend of ₹8.50 per equity share (face value ₹2) for FY26. The dividend is subject to shareholder approval at the upcoming 41st Annual General Meeting scheduled for September 15, 2026. The payout represents the distribution of FY26 earnings, in which the company posted a full-year net profit of ₹1,081.59 crore on revenue of ₹22,627.3 crore.
Confidence: HIGH
What changedAPL Apollo has formalized the record date (September 8, 2026) and AGM date (September 15, 2026) for the FY26 final dividend payout.
Why it mattersConfirms the timeline for cash returns to shareholders from FY26 profits, with dividend yield and total outflow being standard corporate cash return metrics.
Final Dividend per share: ₹8.50Face Value per share: ₹2Record Date: 08-Sep-2026AGM Date: 15-Sep-2026
📅 Short termStock will trade ex-dividend ahead of September 8, 2026, with typical price adjustment corresponding to the ₹8.50 per share payout.
📈 Long termLimited; this is a routine annual dividend distribution and does not alter the company's operating outlook or structural earnings growth trajectory.
Key Highlights
Record date fixed as September 8, 2026 for final dividend entitlement
Final dividend of ₹8.50 per equity share of face value ₹2 recommended for FY25-26
41st Annual General Meeting (AGM) scheduled for September 15, 2026 via VC/OAVM
Dividend recommended originally by the Board on May 2, 2026
👀 What to Watch
Investors seeking dividend eligibility must hold shares before the ex-dividend date preceding September 8, 2026. Watch for AGM voting outcomes and final dividend disbursement timelines.
APL Apollo Targets 20% EBITDA Growth in FY27 Despite Q1 Volume Dip to 745k Tons
APL Apollo reported a mixed Q1 FY27 with volumes at 745,000 tons, a 20% decline quarter-on-quarter due to geopolitical issues in the UAE and domestic energy crises. Despite the volume drop, the company maintained an EBITDA per ton of approximately ₹5,500, demonstrating strong pricing power. Management reaffirmed its FY27 guidance of 20% absolute EBITDA growth, supported by a 20% month-on-month volume recovery in July. The company is progressing on a 3-million-ton capacity expansion roadmap over the next 2.5 years to reach a total capacity of 8 million tons.
Confidence: HIGH
What changedThe company provided a detailed breakdown of Q1 volume headwinds and shared a clear 3-year roadmap to reach 8 million tons of capacity.
Why it mattersThe reaffirmation of growth guidance despite a weak Q1 suggests management's confidence in their value-added product mix (targeting 75-80%) and operational recovery.
Q1 FY27 Volume: 745,000 tonsEBITDA per ton: ₹5,500FY27 EBITDA Growth Guidance: 20%Cash on Books: ₹14 billionCash vs Net Worth: ~40.2%Target Capacity: 8 million tons
📅 Short termExpectations are set for a stronger Q2 with a volume target of 10 lakh tons, though steel price volatility remains a factor for inventory margins.
📈 Long termThe company is structurally shifting toward a 75-80% value-added product mix, which should de-commoditize the business and stabilize margins over the next 3-4 years.
⚠ Risk flags
- Geopolitical instability in UAE impacting international volumes
- Steel price volatility leading to potential inventory losses
- Competition from secondary steel manufacturers
Key Highlights
Q1 FY27 volume stood at 745,000 tons, impacted by a 25,000-ton loss in UAE operations due to geopolitical factors.
Management reaffirmed guidance for 20% absolute EBITDA growth in FY27 compared to FY26.
July 2026 volumes recovered by 20% month-on-month after a soft Q1.
Planned capacity expansion of 2 million tons through new plants and 1 million tons via debottlenecking over the next 30 months.
Cash on books remained strong at ₹14 billion as of June 2026, compared to ₹15 billion in March 2026.
👀 What to Watch
Monitor the volume ramp-up in Q2 (target 10 lakh tons) and the commissioning of the Gorakhpur and Siliguri plants in H2 FY27 to validate the 20% EBITDA growth guidance.
APL Apollo Q1 PAT Up 11% YoY to ₹263 Cr; Targets 8 Mn Ton Capacity by FY28
APL Apollo reported a resilient Q1 FY27 with Net Profit growing 11% YoY to ₹263.1 Cr, despite a 6% decline in sales volumes to 7.45 lakh tons. Revenue increased 8% YoY to ₹5,607 Cr, supported by an 18% YoY improvement in EBITDA per ton to ₹5,522 as the product mix shifts toward value-added segments. The company maintains a robust balance sheet with a net cash position of ₹1,406.4 Cr and a zero-day net working capital cycle. Management reiterated its long-term growth strategy, targeting a total capacity of 8 Mn Tons by FY28, up from the current 5 Mn Tons.
Confidence: HIGH
What changedThe company is successfully transitioning from volume-led growth to margin-led growth, evidenced by rising EBITDA/ton despite falling volumes. It has also formalized a roadmap to increase capacity by 60% by FY28.
Why it mattersAPL Apollo's ability to maintain margins and a zero-day working capital cycle in a soft demand environment reinforces its competitive moat. The planned capacity expansion to 8 Mn Tons provides long-term revenue visibility.
Q1 Revenue: ₹5,607 CrEBITDA per Ton: ₹5,522Net Cash Position: ₹1,406.4 CrTarget Capacity (FY28): 8 Mn TonQ1 Revenue vs TTM Revenue: ~24.8%Q1 PAT vs TTM PAT: ~24.3%
📅 Short termThe stock may see neutral to cautious sentiment in the short term due to the 19% QoQ volume decline, though the margin resilience is a positive offset.
📈 Long termStructural growth remains strong as the company scales toward 8 Mn Tons capacity and increases the share of high-margin value-added products.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Soft demand due to macroeconomic environment
- Steel price volatility impacting inventory margins
- Execution risk for the 3 Mn Ton capacity expansion
Key Highlights
Sales volume stood at 744,823 Tons, a 6% YoY decrease attributed to soft demand and geopolitical factors.
EBITDA per ton improved significantly to ₹5,522, up 18% YoY, reflecting strong brand power and better product mix.
Net Profit reached ₹263.1 Cr, representing approximately 24.3% of the TTM PAT.
The company maintains a net cash position of ₹1,406.4 Cr, slightly down from ₹1,532.3 Cr in FY26.
Expansion roadmap confirmed to reach 8 Mn Ton capacity by FY28 through 2 Mn Ton greenfield/brownfield and 1 Mn Ton debottlenecking.
👀 What to Watch
Monitor volume recovery in 2H FY27 as management expects improved government infrastructure spending to drive demand. Watch for the execution of the 3 Mn Ton capacity expansion projects across East, South, and Western coastal areas.
Q1FY27: 11% YoY Profit Growth to ₹263 Cr; EBITDA/Ton Rises 18% to ₹5,522
APL Apollo reported a resilient Q1FY27 with net profit rising 11% YoY to ₹263 crore, despite a 6% YoY decline in sales volumes to 744,823 tons. The performance was bolstered by an 18% YoY improvement in EBITDA/ton to ₹5,522, reflecting a strong shift toward value-added products. However, on a sequential basis, volumes dropped 19% and net profit fell 26% compared to Q4FY26. The company maintained a healthy net cash position of ₹1,406 crore, though operating cash flow turned negative at -₹30 crore for the quarter due to inventory buildup.
Confidence: HIGH
What changedQ1FY27 results show a significant sequential volume contraction (-19% QoQ) but demonstrate margin resilience through value-added products, with EBITDA/ton holding steady at ₹5,522.
Why it mattersThe results highlight APL Apollo's pricing power and brand strength in a challenging macro environment, though the negative operating cash flow and volume dip indicate short-term demand headwinds.
Q1FY27 Revenue: ₹5,606.7 crQ1 Revenue vs TTM Revenue: 24.8%EBITDA per Ton: ₹5,522Net Cash Position: ₹1,406.4 crSales Volume: 744,823 TonROE (Annualized): 19.4%
📅 Short termThe stock may face neutral to slightly cautious sentiment due to the sequential decline in volumes and negative operating cash flow, despite the YoY profit growth.
📈 Long termThe structural story remains strong with a target to reach 8MT capacity by FY28 and a continued focus on high-margin value-added products which now dominate the sales mix.
⚠ Risk flags
- Negative operating cash flow in Q1FY27
- Significant inventory buildup of ₹456 crore
- Sensitivity to government infrastructure spending and steel price volatility
Key Highlights
EBITDA per ton increased 18% YoY to ₹5,522, maintaining flat levels sequentially despite volume pressure.
Sales volume of 744,823 tons represents a 6% YoY and 19% QoQ decline, missing internal expectations due to soft demand.
Net profit grew 11% YoY to ₹263.1 crore, contributing approximately 24% to the TTM PAT of ₹1,082 crore.
Operating cash flow was negative ₹30.2 crore for Q1FY27, primarily due to a ₹456 crore increase in inventory.
Company reiterated its long-term capacity expansion target to reach 8 million tons by FY28 from the current 5 million tons.
👀 What to Watch
Monitor volume recovery in 2HFY27 as management expects improved demand from higher government infrastructure budget allocations. Watch for the stabilization of operating cash flows and the ramp-up of the Dubai and Raipur facilities.
₹160 Cr Subsidiary Sale and Q1 FY27 Results with 5.7% Operating Margin
APL Apollo reported Q1 FY27 results with an operating margin of 5.70% and a net profit margin of 3.87%, showing sequential compression from the March 2026 quarter. The company announced the divestment of its subsidiary, Blue Ocean Projects Private Limited, for ₹160 crore, which is approximately 4.6% of its net worth. Additionally, the board approved a phased consolidation of its Sikandrabad manufacturing unit into other facilities to optimize capacity and reduce costs. A small investment of ₹1 crore was also cleared for a 20% stake in a new Group Shared Services Company.
Confidence: HIGH
What changedThe company is divesting a non-core subsidiary (Blue Ocean Projects) and rationalizing its manufacturing footprint by closing an older unit in Uttar Pradesh.
Why it mattersThe divestment provides a liquidity boost of ₹160 crore, while the manufacturing consolidation aims to improve operational efficiency and margins by leveraging more modern infrastructure.
Sale Consideration (BOPL): ₹160.00 croreBOPL Sale vs Net Worth: 4.59%Operating Margin (Q1 FY27): 5.70%Net Profit Margin (Q1 FY27): 3.87%SSC Investment: ₹1.00 crore
📅 Short termThe stock may see neutral to slightly cautious sentiment due to the sequential dip in operating margins from 7.19% to 5.70%.
📈 Long termThe shift toward a shared services model and consolidation of manufacturing units suggests a focus on long-term operational leaness and capital efficiency.
⚠ Risk flags
- Sequential margin compression
- Execution risk in manufacturing consolidation
- Steel price volatility impacting inventory values
Key Highlights
Divestment of Blue Ocean Projects Private Limited for ₹160 crore against a carrying value of ₹150.50 crore.
Operating margin for Q1 FY27 stood at 5.70%, a decline from 7.19% in the preceding March 2026 quarter.
Net profit margin for Q1 FY27 reported at 3.87%, down from 4.86% in the previous quarter.
Approved investment of up to ₹1 crore for a 20% equity stake in a new Group Shared Services Company.
Phased closure and disposal of the Sikandrabad A-25 manufacturing unit to improve overall group capacity utilization.
👀 What to Watch
Investors should monitor the impact of manufacturing consolidation on EBITDA per ton and track the completion of the ₹160 crore subsidiary sale in the next quarter.
APL Apollo Q1 FY27: ₹160 Cr Subsidiary Sale and Manufacturing Consolidation Approved
APL Apollo reported its Q1 FY27 results, showing an operating margin of 5.70%, a sequential decline from 7.19% in Q4 FY26. The Board approved the sale of its wholly-owned subsidiary, Blue Ocean Projects Private Limited, for ₹160 crore, which is ₹10 crore above its carrying value. Additionally, the company is rationalizing its manufacturing footprint by consolidating production from its Sikandrabad unit to other facilities to improve capacity utilization. A minor investment of ₹1 crore for a 20% stake in a new Group Shared Services Company was also cleared to centralize corporate support.
Confidence: HIGH
What changedThe company has initiated the divestment of a non-core subsidiary and started a phased consolidation of its manufacturing units to optimize costs.
Why it mattersThe restructuring aims to improve operational efficiency and capital allocation by moving production to more modern facilities, while the subsidiary sale provides a small liquidity boost.
Subsidiary Sale Value: ₹160.00 crOperating Margin (Q1 FY27): 5.70%Net Profit Margin (Q1 FY27): 3.87%Debt-Equity Ratio: 0.16Investment in SSC: ₹1.00 crSale Value vs TTM Revenue: ~0.71%
📅 Short termThe sequential drop in operating margins from 7.19% to 5.70% may lead to short-term pressure, though the divestment news is a minor positive.
📈 Long termManufacturing consolidation and the shift to a shared services model are structural moves to protect margins and improve asset utilization over the coming years.
⚠ Risk flags
- Margin compression compared to previous quarters
- Execution risk in phased manufacturing consolidation
- Steel price volatility impacting inventory values
Key Highlights
Divestment of Blue Ocean Projects Private Limited for a total consideration of ₹160.00 cr
Operating margin for Q1 FY27 reported at 5.70%, down from 7.19% in the preceding quarter
Consolidation of manufacturing operations by closing the A-25 unit at Sikandrabad, Uttar Pradesh
Investment of up to ₹1.00 cr for a 20% equity stake in a new Group Shared Services Company
Net worth increased to ₹3,638.01 cr as of June 30, 2026, from ₹3,481.43 cr in March 2026
👀 What to Watch
Investors should monitor the impact of manufacturing consolidation on EBITDA per ton and the timeline for the completion of the ₹160 cr subsidiary sale.
744,823 Ton: APL Apollo Q1FY27 Sales Volume Declines 6% YoY
APL Apollo reported a 6% YoY decline in sales volume for Q1FY27, totaling 744,823 tons compared to 794,350 tons in Q1FY26. Sequentially, volumes dropped significantly by 19.5% from 924,881 tons in Q4FY26, indicating a sharp slowdown in the start of the new fiscal year. While the 'SG Premium Brand' saw a notable YoY increase to 58,686 tons, the 'UAE Operations' and core 'APL Apollo Brand' segments witnessed volume contractions. This volume dip contrasts with the company's historical 22% volume CAGR target.
Confidence: HIGH
What changedAPL Apollo has reported a contraction in quarterly sales volumes and introduced a revised product segmentation framework to categorize its building material range.
Why it mattersFor a high-growth company valued at 45x P/E, a volume contraction is significant as it challenges the thesis of consistent 20%+ growth. It highlights potential demand headwinds in the structural steel segment or a transition phase in product mix.
Q1FY27 Sales Volume: 744,823 TonYoY Volume Growth: -6.2%QoQ Volume Growth: -19.5%Total Annual Capacity: 5 Mn TonSG Premium Brand YoY Growth: 315%
📅 Short termThe stock may face pressure in the short term as the market reacts to the volume miss and the sharp sequential decline.
📈 Long termThe structural story depends on the company's ability to ramp up its Raipur and Dubai facilities and maintain its 57% value-added product mix to protect EBITDA per ton.
⚠ Risk flags
- Demand slowdown in infrastructure/construction
- Underutilization of UAE capacity
- Steel price volatility impacting inventory
Key Highlights
Total sales volume for Q1FY27 reached 744,823 tons, down 6% from 794,350 tons in Q1FY26.
Sequential volume declined by 19.5% compared to the 924,881 tons recorded in Q4FY26.
SG Premium Brand volume grew to 58,686 tons from 14,141 tons in the year-ago period.
UAE Operations volume fell to 25,929 tons, a 46% decline compared to 48,162 tons in Q1FY26.
Total capacity utilization for the quarter stands at approximately 15% of the 5 Mn Ton annual capacity.
👀 What to Watch
Investors should monitor the upcoming Q1FY27 financial results to see if higher margins from the 'SG Premium' segment offset the overall volume decline. Key focus should be on management's commentary regarding the sharp sequential drop and the recovery timeline for UAE operations.
₹160 Cr Disinvestment of Real Estate Subsidiary to Related Party
APL Apollo Tubes has approved the sale of its 100% stake in Blue Ocean Projects Private Limited (BOPPL) for ₹160 crore. BOPPL is a non-core subsidiary holding real estate assets, contributing only 0.06% (₹14.91 cr) to the company's consolidated turnover. The buyer, SG Realtor Private Limited, is a related party as promoters hold over 20% of its equity. The transaction is expected to conclude by December 31, 2026, and is based on an independent valuation report.
Confidence: HIGH
What changedAPL Apollo is exiting its non-core real estate holding subsidiary through a sale to a promoter-linked entity.
Why it mattersThe move streamlines the company's portfolio to focus on its core steel tube manufacturing business and provides a modest liquidity boost relative to its debt levels.
Sale Consideration: ₹160 crSubsidiary Net Worth: ₹139.09 crRevenue Contribution: 0.06%Consideration vs Co. Net Worth: 4.59%Completion Deadline: 31-Dec-2026
📅 Short termThe market is likely to view this as a routine cleanup of the balance sheet, though the related-party nature of the transaction may invite scrutiny of the valuation.
📈 Long termPositive for capital discipline as it removes non-core assets, allowing management to focus on the targeted 22% volume CAGR in the steel segment.
⚠ Risk flags
- Related-party transaction
- Long completion timeline (6 months)
Key Highlights
Divestment of 100% stake in Blue Ocean Projects Private Limited for ₹160 crore
Subsidiary contributed only 0.06% to consolidated turnover and 2.63% to net worth as of March 2026
Sale price of ₹160 crore represents a premium over the subsidiary's net worth of ₹139.09 crore
Transaction involves a related party, SG Realtor Private Limited, with completion targeted by Dec 31, 2026
Proceeds of ₹160 crore represent approximately 25% of the company's current debt of ₹640 crore
👀 What to Watch
Investors should monitor the timely completion of the transaction by December 2026 and observe if the cash proceeds are utilized for debt reduction or core business expansion.
₹160 Cr Disinvestment of Real Estate Subsidiary to Related Party
APL Apollo Tubes has approved the 100% disinvestment of its subsidiary, Blue Ocean Projects Private Limited (BOPPL), to SG Realtor Private Limited for ₹160 crore. The buyer is a related party, with promoters holding over 20% stake, though the deal is stated to be at arm's length based on independent valuation. BOPPL is a non-core entity holding real estate assets, contributing a negligible 0.06% to consolidated revenue (₹14.91 cr) and 2.63% to consolidated net worth. The transaction is expected to be completed by December 31, 2026.
Confidence: HIGH
What changedAPL Apollo is fully exiting its real estate holding subsidiary, BOPPL, transferring ownership to a promoter-linked entity.
Why it mattersThe move simplifies the corporate structure by divesting a non-core asset, unlocking ₹160 crore in capital which is roughly 4.6% of the company's current net worth.
Consideration Value: ₹160 crSubsidiary Revenue Contribution: 0.06%Subsidiary Net Worth Contribution: 2.63%Consideration vs TTM Net Worth: ~4.6%Completion Deadline: 31-Dec-2026
📅 Short termThe market is likely to view this as a routine cleanup of the balance sheet; minimal impact on stock price is expected given the small scale relative to the ₹49,952 Cr market cap.
📈 Long termPositive for corporate focus as it removes non-core real estate holdings, allowing management to focus entirely on the steel tube business and its 22% volume CAGR target.
⚠ Risk flags
- Related-party transaction involving promoter group
- Execution timeline extends to late 2026
Key Highlights
Total cash consideration for the 100% stake sale is ₹160 crore.
BOPPL contributed only ₹14.91 crore (0.06%) to consolidated turnover in FY26.
The subsidiary represents ₹139.09 crore (2.63%) of the company's consolidated net worth.
Transaction is scheduled for completion by December 31, 2026.
Sale is to SG Realtor Private Limited, a promoter-group entity, at arm's length pricing.
👀 What to Watch
Watch for the execution of the share sale agreement by December 2026 and the subsequent deployment of the ₹160 crore proceeds into core operations or debt reduction.
APL Apollo Reports Strong FY26 Results with 37% ROCE and INR 5,500+ EBITDA/Ton in Q4
APL Apollo Tubes delivered a robust performance for Q4 FY26, achieving a 9% YoY volume growth and EBITDA per ton exceeding INR 5,500. Despite headwinds from the Middle East crisis impacting Dubai operations and domestic raw material shortages, the company maintained a 37% ROCE and generated INR 13 billion in free cash flow for the full year. Management is prioritizing profitability over volume in the short term while remaining on track for an 8-million-ton capacity target by FY28. With a net cash balance of over INR 15 billion, the company is considering higher dividends or buybacks as it eliminates remaining debt.
Key Highlights
Quarterly volume increased by 9% YoY with EBITDA per ton reaching over INR 5,500 in Q4
Full-year FY26 ROCE stood at 37% with a negative working capital cycle and INR 20bn operating cash flow
Generated INR 13 billion in free cash flow and maintains a net cash balance of over INR 15 billion
Management plans to spend INR 500-600 crores annually on capex to reach 8 million ton capacity by FY28
Net liabilities of INR 500 crores expected to be eliminated by Q2, potentially leading to higher dividends or buybacks
👀 What to Watch
Investors should view the strong cash generation and margin resilience as a sign of market leadership. The shift toward higher-margin products and potential for capital return through dividends or buybacks makes it a strong hold for long-term portfolios.
APL Apollo FY26 Net Profit Surges 59% to ₹12.0 Bn; EBITDA/Ton Hits Record ₹5,161
APL Apollo Tubes delivered a robust performance for FY26, with consolidated net profit growing 59% YoY to ₹12.0 billion. The company achieved its highest-ever quarterly volume of 925k tons in Q4FY26, contributing to an annual volume growth of 11% to 3,491k tons. Operational efficiency improved significantly, with EBITDA per ton rising 36% to ₹5,161 and ROCE expanding to 37.3%. The company maintains a strong balance sheet with a net cash position of ₹15.3 billion and zero net working capital days.
Key Highlights
Annual Sales Volume grew 11% YoY to 3,491k tons, with Q4FY26 hitting a record 925k tons
Consolidated EBITDA for FY26 increased by 50% YoY to ₹18.0 billion, driven by margin expansion
Net Profit (PAT) for the full year surged 59% YoY to ₹12.0 billion compared to ₹7.6 billion in FY25
Return on Capital Employed (ROCE) improved sharply to 37.3% from 24.5% in the previous year
Company announced a capacity expansion target to reach 8 million tons by FY28 from the current 5 million tons
👀 What to Watch
Investors should view the strong margin expansion and transition to a significant net cash position as evidence of APL Apollo's dominant market position. The aggressive capacity expansion plan to 8 million tons by FY28 provides a clear long-term growth runway for the stock.
APL Apollo Q4FY26 PAT Rises 21% to ₹3.5Bn; FY26 Net Profit Surges 59% YoY
APL Apollo Tubes reported a robust performance for Q4FY26, with net profit increasing 21% YoY to ₹3.5 billion and revenue growing 14% to ₹62.7 billion. For the full year FY26, the company achieved a massive 59% growth in PAT to ₹12.0 billion, supported by an 11% volume growth and a 36% jump in EBITDA per ton to ₹5,161. The company maintains a strong balance sheet with a net cash position of ₹15.3 billion and zero net working capital days. Management has outlined a clear growth path to reach 8 million tons of capacity by FY28, up from the current 5 million tons.
Key Highlights
Q4FY26 EBITDA grew 24% YoY to ₹5.1 billion with EBITDA per ton rising 14% to ₹5,525.
Full-year FY26 Net Profit reached ₹12.0 billion, a 59% increase over FY25.
Return on Capital Employed (ROCE) improved significantly to 37.3% in FY26 from 24.5% in FY25.
Net cash position strengthened to ₹15.3 billion compared to ₹3.1 billion in the previous year.
Capacity expansion plan targeting 8 million tons by FY28 through greenfield and brownfield projects.
👀 What to Watch
Investors should take note of the company's superior capital efficiency and debt-free status, which provides a strong cushion for its aggressive expansion plans. The stock remains a key play on India's infrastructure and structural steel demand, particularly with the upcoming 3 million ton capacity addition.
APL Apollo Recommends ₹8.50 Dividend and Plans Non-Core Asset Divestment
APL Apollo Tubes has recommended a final dividend of ₹8.50 per share (425%) for FY26 following its board meeting. The company is streamlining its corporate structure by initiating the voluntary liquidation of APL Apollo Mart Limited, which contributed a negligible 0.04% to consolidated revenue. Furthermore, the board granted in-principle approval to divest its real estate subsidiary, Blue Ocean Projects, to redeploy capital into its core manufacturing operations. Four independent directors have also been re-appointed for second five-year terms, ensuring leadership continuity.
Key Highlights
Recommended a final dividend of ₹8.50 per equity share (425% of face value) for FY26.
Initiated voluntary liquidation of APL Apollo Mart Limited, which held a net worth of ₹111.72 crore.
Approved divestment of real estate subsidiary Blue Ocean Projects to unlock capital for core business.
Re-appointed four Independent Directors for second 5-year terms starting in 2026 and 2027.
Reported audited financial results for FY26 with an unmodified auditor's opinion.
👀 What to Watch
Investors should view the dividend and the strategic exit from non-core real estate assets as positive steps toward capital efficiency and core business focus. Monitor the detailed FY26 earnings report for growth trends in the manufacturing segment.
APL Apollo Recommends ₹8.50 Final Dividend and Announces Corporate Restructuring
APL Apollo Tubes has recommended a final dividend of ₹8.50 per equity share (425% of face value) for FY26. The company is also streamlining its operations by initiating the voluntary liquidation of its non-operational subsidiary, APL Apollo Mart Limited, and divesting its real estate holding subsidiary, Blue Ocean Projects. These moves are part of a capital allocation strategy to unlock funds and redeploy them into the core manufacturing business. Additionally, the board has re-appointed four independent directors for second five-year terms, ensuring management continuity.
Key Highlights
Recommended a final dividend of ₹8.50 per equity share of ₹2 face value for the financial year ended March 31, 2026.
Initiated voluntary liquidation of APL Apollo Mart Limited, which contributed only 0.04% to consolidated revenue.
Approved divestment of Blue Ocean Projects Private Limited to unlock capital from real estate assets for core business use.
Re-appointed four Independent Directors, including former IAS and IRS officers, for second 5-year terms.
Statutory Auditors provided an unmodified opinion on the audited standalone and consolidated financial results for FY26.
👀 What to Watch
Investors should benefit from the healthy dividend payout and the company's strategic focus on core manufacturing by exiting non-core assets. Maintain a positive outlook as the restructuring aims to improve capital efficiency and simplify the group structure.
APL Apollo Recommends ₹8.50 Dividend and Approves Strategic Restructuring
APL Apollo Tubes has recommended a final dividend of ₹8.50 per share (425% of face value) for FY26 following its board meeting. The company is initiating a strategic restructuring by liquidating its non-operational subsidiary, APL Apollo Mart Limited, which contributed only 0.04% to consolidated revenue. Furthermore, the board granted in-principle approval to divest its real estate holding subsidiary, Blue Ocean Projects Private Limited, to unlock capital for its core manufacturing business. The company also ensured leadership continuity by re-appointing four independent directors for second five-year terms.
Key Highlights
Recommended a final dividend of ₹8.50 per equity share of ₹2 face value (425% payout).
Initiated voluntary liquidation of APL Apollo Mart Limited, a subsidiary with minimal revenue of ₹9.02 crore (0.04% of total).
Approved divestment of real estate subsidiary Blue Ocean Projects Private Limited to redeploy capital into core operations.
Re-appointed four Independent Directors, including former IAS and IRS officers, for second 5-year terms.
Statutory auditors provided an unmodified opinion on the consolidated financial results for the year ended March 31, 2026.
👀 What to Watch
Investors should find the healthy dividend payout and the management's focus on core manufacturing via subsidiary rationalization encouraging. The divestment of non-core real estate assets is a positive step toward better capital allocation.
APL Apollo Reports All-time High Q4FY26 Sales Volume of 9.25 Lakh Tons, Up 9% YoY
APL Apollo Tubes achieved its highest-ever quarterly sales volume of 924,881 tons in Q4FY26, marking a 9% growth compared to the previous year. For the full fiscal year FY26, the company reported a total sales volume of 3,491,243 tons, representing an 11% year-on-year increase. Growth was robust across key segments, particularly in the General structural and Rust-proof categories. These record volumes indicate strong demand in the building materials sector and effective utilization of the company's 4.5 million ton capacity.
Key Highlights
Q4FY26 sales volume reached an all-time high of 924,881 tons, a 9% increase over Q4FY25.
Full-year FY26 sales volume grew 11% YoY to 3,491,243 tons from 3,157,978 tons in FY25.
The 'General' structural segment grew 17% YoY in Q4FY26, reaching 413,574 tons.
Apollo Z Rust-proof segment contributed 777,705 tons for the full year FY26.
The company operates 11 manufacturing facilities with a total capacity of 4.5 million tons.
👀 What to Watch
Investors should take this as a positive signal of market leadership and demand resilience; however, wait for the full financial results to assess if volume growth translated into margin expansion. The stock remains a strong proxy for India's infrastructure and construction growth.
APL Apollo Upgrades EBITDA Guidance to ₹5,500/Ton; Targets 8MT Capacity by FY28
APL Apollo Tubes reported a strong 3QFY26 performance, achieving 9-month volume growth of 11% YoY and EBITDA per ton exceeding ₹5,000. Management has upgraded its sales volume growth guidance to 20% for 4QFY26 and FY27, alongside an increased EBITDA target of ₹5,500 per ton. The company is aggressively expanding capacity from 5 million to 8 million tons by FY28 with a ₹1,500 crore investment funded through internal accruals. With a cash surplus of ₹5.6 billion, the firm is on track to become liability-free while targeting a 40% ROCE.
Key Highlights
Upgraded EBITDA guidance to ₹5,500 per ton for 4QFY26 and FY27, driven by premiumization and cost controls.
Capacity expansion to 8 million tons by FY28 via 4 greenfield and 1 brownfield project costing ₹1,500 crores.
Achieved 90% utilization in December 2025 with monthly sales hitting 375,000 tons.
Long-term vision to reach 10 million tons capacity by 2030, including 2 million tons in super-specialty segments.
Strong financial position with ₹5.6 billion surplus cash and current ROCE of 33%.
👀 What to Watch
Investors should note the significant upgrade in EBITDA guidance and aggressive volume targets which signal strong pricing power. The company's transition to a liability-free balance sheet and expansion into high-margin specialty segments like EV and aerospace provides a positive long-term outlook.
APL Apollo Q3FY26: Net Profit Surges 43% YoY to ₹3.1 Bn; Highest Ever Quarterly Volume
APL Apollo Tubes reported a robust Q3FY26 performance, achieving its highest-ever quarterly sales volume of 917k tons, an 11% YoY increase. Net profit grew significantly by 43% YoY to ₹3.1 billion, supported by a 37% YoY rise in EBITDA to ₹4.7 billion. The company maintained a strong value-added product mix of 57% and improved its EBITDA per ton to ₹5,146. Financial health remains excellent with a net cash position of ₹5.6 billion and an annualized ROCE of 33.3%.
Key Highlights
Highest ever quarterly sales volume of 917k tons, up 11% YoY and 7% QoQ.
Net Profit increased by 43% YoY to ₹3.1 billion; Revenue rose 7% YoY to ₹58.2 billion.
EBITDA per ton improved to ₹5,146, representing a 23% YoY growth from ₹4,173 in Q3FY25.
Net cash position strengthened to ₹5.6 billion in 9MFY26 from ₹3.1 billion in FY25.
Ambitious expansion plan to double capacity to 10 Mn tons by FY30 with ₹13 billion capex by FY28.
👀 What to Watch
Investors should note the company's successful de-commoditization strategy and market leadership, which are driving superior margins and cash flows. The transition to a net-cash balance sheet and clear roadmap for doubling capacity by FY30 make it a strong long-term growth play in the structural steel sector.
APL Apollo Q3FY26: Net Profit Surges 43% YoY to ₹3.1 Bn on Record Sales Volume
APL Apollo Tubes reported a strong Q3FY26 performance with its highest-ever quarterly sales volume of 917k tons, an 11% YoY increase. Net profit jumped 43% YoY to ₹3.1 billion, supported by a significant 37% growth in EBITDA which reached ₹4.7 billion. The company maintains a robust financial position with a net cash balance of ₹5.6 billion and an annualized ROCE of 33.3% for 9MFY26. Management has also outlined an ambitious roadmap to double its annual capacity to 10 million tons by FY30.
Key Highlights
Record quarterly sales volume of 917k tons, up 11% YoY and 7% QoQ.
EBITDA per ton improved 23% YoY to ₹5,146, driven by a 57% value-added product mix.
Net profit increased 43% YoY to ₹3.1 billion, while revenue grew 7% YoY to ₹58.2 billion.
Strong balance sheet with net cash of ₹5.6 billion and net working capital cycle of just 3 days.
Announced ₹13 billion capex plan by FY28 to reach 7 million tons, targeting 10 million tons by FY30.
👀 What to Watch
Investors should view the record volumes and improving margins as a sign of strong market leadership and operational efficiency. The clear roadmap to double capacity by FY30 provides long-term growth visibility, making it a key stock to watch in the structural steel space.
APL Apollo Q3 FY26 Net Profit Jumps 43% YoY to ₹310 Cr; Revenue Up 7%
APL Apollo Tubes reported a strong performance for Q3 FY26, with consolidated net profit rising 43% year-on-year to ₹310.04 crore. Revenue from operations grew by 7% YoY to ₹5,811.13 crore, supported by improved operational efficiencies. The company's operating margin expanded significantly to 8.11% from 6.36% in the same quarter last year. For the nine-month period ended December 2025, net profit saw a massive surge of 83% YoY, reaching ₹848.75 crore.
Key Highlights
Consolidated Net Profit increased 42.9% YoY to ₹310.04 crore in Q3 FY26
Revenue from operations grew 7% YoY to ₹5,811.13 crore compared to ₹5,432.73 crore in Q3 FY25
Operating margins improved to 8.11% in Q3 FY26 from 6.36% in the year-ago period
Nine-month (9M FY26) net profit surged 83% YoY to ₹848.75 crore from ₹463.95 crore
Maintains a strong net-cash position with a negative debt-equity ratio of -0.11
👀 What to Watch
The significant margin expansion and robust profit growth highlight APL Apollo's market leadership and operational efficiency. Investors should view this as a positive signal for the company's ability to scale profitability even with moderate revenue growth.
