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APLAPOLLO - APL Apollo Tubes

📊 NSE: APLAPOLLO 🏢 Steel - Large 📅 Last Updated: 12/13/2025 18:24

📢 Recent Corporate Announcements

APL Apollo Tubes Issues Commercial Paper Worth Rs 100 Crores at 6.25% Interest

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 13 Feb 2026, 02:18 PM

APL Apollo Tubes Limited has successfully issued Commercial Papers (CPs) amounting to Rs 100 Crores. The issuance, allotted on February 13, 2026, features a short tenure of 35 days with a maturity date of March 20, 2026. The debt carries a competitive interest rate of 6.25% and was subscribed by Mirae Asset Liquid Fund. This move is backed by a strong credit rating of [ICRA] A1+, reflecting the company's robust short-term financial position.

Total issuance amount of Rs 100 Crores in Commercial Papers
Short-term maturity period of 35 days ending March 20, 2026
Fixed interest rate of 6.25% per annum
High credit rating of [ICRA] A1+ assigned to the instrument
Subscribed by Mirae Asset Liquid Fund for listing on BSE

💡 Investors should consider this a routine treasury operation for managing short-term working capital. The high credit rating and low interest rate indicate strong lender confidence in the company's liquidity.

APL Apollo Tubes Issues Commercial Paper Worth Rs 100 Crore at 6.25% Interest

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 12 Feb 2026, 01:11 PM

APL Apollo Tubes Limited has issued Commercial Papers (CPs) worth Rs 100 Crore to Kotak Mahindra Bank Ltd. The short-term debt instrument carries an interest rate of 6.25% per annum for a tenure of 43 days. The issuance is backed by a high credit rating of [ICRA] A1+, reflecting the company's strong creditworthiness for short-term obligations. These funds are typically utilized for working capital management and are scheduled to mature on March 27, 2026.

Issuance of Commercial Paper amounting to Rs 100 Crore
Short-term tenure of 43 days with maturity on March 27, 2026
Competitive interest rate of 6.25% per annum
High credit rating of [ICRA] A1+ assigned by ICRA
Issued in favor of Kotak Mahindra Bank Ltd and to be listed on BSE

💡 This is a routine short-term fundraise for working capital requirements and does not significantly alter the company's long-term debt profile. Investors should treat this as a standard financial operation and focus on the company's upcoming quarterly performance.

APL Apollo Upgrades EBITDA Guidance to ₹5,500/Ton; Targets 8MT Capacity by FY28

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 27 Jan 2026, 03:59 PM

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.

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%.

💡 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 Tubes Releases Audio Recording of Q3 FY26 Earnings Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 22 Jan 2026, 11:10 PM

APL Apollo Tubes Limited has officially released the audio recording of its investor conference call held on January 22, 2026. The call was dedicated to discussing the company's unaudited financial results for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a mandatory regulatory requirement under SEBI Listing Obligations and Disclosure Requirements to ensure equal access to information for all investors. The recording provides insights into management's commentary on the company's recent performance and future outlook.

Audio recording of the investor call held on January 22, 2026, at 04:30 PM IST is now available.
The session covered financial performance for the quarter and nine-month period ended December 31, 2025.
The recording link is hosted on the company's official website under the financial results section.
The filing follows the prior intimation of the call schedule sent on January 15, 2026.

💡 Investors should listen to the recording to understand management's guidance on volume growth and margins for the upcoming quarters. This is a routine procedural update and does not contain new financial data beyond the previously released results.

APL Apollo Q3FY26: Net Profit Surges 43% YoY to ₹3.1 Bn; Highest Ever Quarterly Volume

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 22 Jan 2026, 01:57 PM

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%.

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.

💡 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

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 22 Jan 2026, 01:57 PM

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.

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.

💡 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%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 22 Jan 2026, 01:45 PM

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.

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

💡 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.

APL Apollo Tubes to Host 3QFY26 Earnings Call on January 22, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 15 Jan 2026, 04:45 PM

APL Apollo Tubes Limited has scheduled a conference call on January 22, 2026, at 4:30 PM IST to discuss its financial results for the third quarter and nine months ended December 31, 2025. The call will feature top management, including the Chairman and Managing Director, to provide insights into the company's operational performance. This routine disclosure allows institutional investors and analysts to engage with the leadership regarding 3QFY26 outcomes. The event is being coordinated by Ambit Capital and will be accessible via various international and domestic dial-in numbers.

Earnings call date set for January 22, 2026, at 16:30 IST
Focus on 3QFY26 and nine-month financial performance ending December 2025
Participation from CMD Sanjay Gupta, CFO Chetan Khandelwal, and other key directors
Moderated by Ambit Capital with international access from Singapore, HK, USA, and UK

💡 Investors should attend or review the transcript to understand management's guidance on volume growth and capacity utilization. Pay close attention to commentary regarding raw material price volatility and its impact on EBITDA per ton.

APL Apollo Tubes Issues Commercial Paper Worth Rs 200 Crores at 6.20% Rate

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 09 Jan 2026, 12:59 PM

APL Apollo Tubes Limited has successfully issued Commercial Papers (CPs) worth Rs 200 Crores on January 9, 2026. The short-term debt instrument carries a competitive interest rate of 6.20% with a tenure of 68 days, maturing on March 18, 2026. The issuance received a top-tier credit rating of [ICRA] A1+, reflecting strong creditworthiness. This move is part of the company's routine treasury management to fund short-term working capital requirements efficiently.

Total issuance amount of Rs 200 Crores in Commercial Papers allotted on January 9, 2026.
The security carries an interest rate of 6.20% for a short tenure of 68 days.
Assigned a high-grade credit rating of [ICRA] A1+ indicating low credit risk.
The Commercial Paper is issued in favor of UTI-Liquid Fund and will be listed on the BSE.
Maturity date for the issued instrument is set for March 18, 2026.

💡 This is a routine short-term fundraising activity and should be viewed as standard liquidity management. No immediate action is required, though investors should continue to monitor the company's overall debt profile.

APL Apollo Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 03:21 PM

APL Apollo Tubes Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document confirms that the Registrar and Share Transfer Agent, Abhipra Capital Limited, has processed share certificates for dematerialization for the quarter ended December 31, 2025. This is a standard administrative procedure to ensure the integrity of the company's shareholding records. There are no financial or operational updates contained within this specific announcement.

Compliance certificate submitted for the quarter ended December 31, 2025
Issued by Registrar and Share Transfer Agent, M/s Abhipra Capital Limited
Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018
Filed with both National Stock Exchange (NSE) and BSE Limited on January 8, 2026

💡 This is a routine regulatory filing and requires no action from investors. Focus should remain on the company's upcoming quarterly financial results for performance assessment.

APL Apollo Hits Record Q3FY26 Sales Volume of 9.17 Lakh Tons, Up 11% YoY

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 01 Jan 2026, 12:22 PM

APL Apollo Tubes reported its highest-ever quarterly sales volume of 916,976 tons in Q3FY26, marking an 11% growth year-on-year and a 7% increase sequentially. For the first nine months of FY26, the company achieved a total volume of 2,566,363 tons, maintaining a steady 11% YoY growth rate. The performance was bolstered by strong demand in the Apollo Z rust-proof and coated segments, reflecting the company's successful focus on value-added products. With a total capacity of 4.5 million tons, the company continues to leverage its dominant market position in the structural steel tube industry.

Achieved all-time high quarterly sales volume of 916,976 tons in Q3FY26.
9MFY26 sales volume reached 2,566,363 tons, an 11% increase compared to 9MFY25.
Apollo Z (Rust-proof) segment volumes grew significantly to 199,208 tons from 165,635 tons YoY.
Sequential sales volume growth of 7% recorded over Q2FY26 (855,037 tons).
Maintains a pan-India manufacturing presence with a total capacity of 4.5 million tons.

💡 Investors should view the record volume growth as a strong lead indicator for revenue growth in the upcoming Q3 financial results. The consistent double-digit growth and shift towards value-added segments like Apollo Z support a positive long-term outlook.

APL Apollo Tubes Releases FY25 ESG Report Highlighting Net Zero Roadmap and Global Compliance

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 27 Dec 2025, 11:33 AM

APL Apollo Tubes has published its fifth ESG Report for FY 2024-25, covering 100% of its operations across 11 manufacturing units in India and Dubai. The report is aligned with international standards like GRI 2021 and ISSB, and includes reasonable external assurance on SEBI BRSR Core Indicators. It outlines the company's strategic journey toward Net Zero and provides detailed metrics on energy and emission management. This level of transparency is aimed at strengthening stakeholder trust and attracting ESG-focused institutional investment.

Comprehensive ESG disclosure covering 11 manufacturing plants and 100% of company revenue.
Adherence to global reporting standards including GRI 2021, ISSB, and UN Sustainable Development Goals.
Reasonable external assurance obtained for SEBI BRSR Core Indicators via Sustainability Actions Pvt. Ltd.
Includes a detailed Net Zero journey roadmap and specific targets for Scope 1 and Scope 2 emissions.
Governance oversight confirmed with reviews by the CMD, CFO, and Chief Strategy Officer.

💡 This report confirms APL Apollo's commitment to high governance and sustainability standards, which is a positive sign for long-term institutional holding. Investors should track the execution of the Net Zero roadmap as a key non-financial performance indicator.

APL Apollo Tubes Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Dec 2025, 03:53 PM

APL Apollo Tubes Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This action is a mandatory compliance step under SEBI (Prohibition of Insider Trading) Regulations ahead of the upcoming financial results. The closure pertains to the unaudited financial results for the quarter and nine-month period ending December 31, 2025. The window will reopen 48 hours after the results are officially declared to the exchanges.

Trading window closure effective from January 1, 2026
Pertains to Q3 and nine-month financial results ending December 31, 2025
Window to remain closed until 48 hours after the declaration of results
Applicable to all Designated Persons and their Immediate Relatives as per company code

💡 This is a routine regulatory announcement with no immediate impact on stock fundamentals. Investors should monitor for the upcoming board meeting date announcement to track Q3 performance.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from operations grew 14.19% YoY to INR 20,689.54 Cr in FY25 from INR 18,118.80 Cr in FY24. In Q2 FY26, revenue reached INR 5,206.30 Cr, a 9% YoY increase, driven by a 13% YoY growth in sales volumes to 855,037 Tons.

Geographic Revenue Split

The company operates across India with key manufacturing hubs in Raipur, Bhuj, and an international presence in the UAE (Dubai). While specific regional % splits are not detailed, the Dubai and Raipur plants were cited as primary drivers for volume recovery in Q2 FY26.

Profitability Margins

Net Profit Margin for FY25 was 3.7%, a 38 bps decline from 4.0% in FY24. However, Q2 FY26 saw a massive recovery with Net Profit of INR 307.54 Cr, up 461% YoY. ROE improved from 19.4% in FY25 to 24.4% in Q2 FY26, while ROCE rose to 32.4% from 24.5% in FY25.

EBITDA Margin

EBITDA margin stood at 5.8% in FY25, a 78 bps decline from 6.6% in FY24 due to inventory losses in Q2 FY25. Q2 FY26 EBITDA surged 224% YoY to INR 450 Cr (INR 4.5 Bn), with EBITDA per ton increasing 187% YoY to INR 5,228, driven by a higher value-added product mix of 57%.

Capital Expenditure

The company has completed major capex at Raipur, Bhuj, and UAE. Future growth is expected from these incremental capacities without major debt-funded capex plans in the near term, maintaining a net debt-free position with net cash of INR 510 Cr as of Q2 FY26.

Credit Rating & Borrowing

Crisil reaffirmed 'CRISIL AA/Positive' and 'CRISIL A1+' ratings. Interest coverage ratio moderated to 7.5x in FY25 from 9.6x in FY24 due to lower EBITDA, but interest costs decreased 24% YoY in Q2 FY26 to INR 27.6 Cr.

⚙️ Operational Drivers

Raw Materials

Steel coils and strips used for Electric Resistance Welding (ERW) pipes represent the primary raw material cost, though specific % of total cost is not disclosed.

Import Sources

Sourcing is primarily domestic within India to support plants in Raipur and Bhuj, with international sourcing for the UAE (Dubai) facility.

Key Suppliers

Not specifically named in the documents, but the company maintains significant linkages with major steel producers for raw material procurement.

Capacity Expansion

Current sales volume is 855,037 Tons per quarter (Q2 FY26). Expansion is focused on ramping up utilization at the Raipur, Bhuj, and Dubai plants to sustain a 22% volume CAGR seen over the past 3 years.

Raw Material Costs

Raw material costs are highly sensitive to steel price volatility; inventory losses in Q2 FY25 significantly impacted margins. The company uses a 'margin over volume' strategy to mitigate these fluctuations.

Manufacturing Efficiency

Capacity utilization is recovering, particularly in Raipur and Dubai. The company achieved an EBITDA spread of over INR 5,000 per ton in Q2 FY26, up from previous quarters.

Logistics & Distribution

The company leverages an extensive distribution network and brand pull to maintain market leadership in the ERW segment.

📈 Strategic Growth

Expected Growth Rate

14%

Growth Strategy

Growth will be achieved through a 57% value-added product mix, capacity ramp-up in Raipur and Dubai, and a shift in focus from volume to high-margin products. The company targets an EBITDA of INR 450 Cr per quarter for the remainder of FY26.

Products & Services

Electric Resistance Welding (ERW) steel pipes, structural steel tubes, and value-added steel products for infrastructure and construction.

Brand Portfolio

APL Apollo

New Products/Services

Increased focus on value-added products which now contribute 57% of sales mix, up from 55% YoY, targeting higher EBITDA/ton.

Market Expansion

Expansion into the Middle East via the Dubai plant and strengthening the domestic footprint through the Raipur and Bhuj facilities.

Market Share & Ranking

Dominant market leader in the Indian ERW segment with a long track record of operations.

Strategic Alliances

The group includes wholly-owned subsidiaries like Apollo Metalex Private Limited (AMPL) and APL Apollo Building Products Private Limited (ABPPL).

🌍 External Factors

Industry Trends

The industry is shifting toward structural steel in construction. APL Apollo is positioning itself by increasing its value-added mix to 57% and investing in ESG-compliant manufacturing.

Competitive Landscape

Intense competition in the pipes and tubes industry with limited value addition from smaller players, which APL Apollo counters through scale and brand power.

Competitive Moat

The moat is built on a 0-day working capital cycle, dominant market share in ERW pipes, and a strong brand that allows for premium pricing (INR 2k-3k/ton premium).

Macro Economic Sensitivity

Sensitive to global trade uncertainty and fluctuations in domestic infrastructure spending by the government.

Consumer Behavior

Increasing demand for branded, high-quality structural steel products in the infrastructure sector.

Geopolitical Risks

Global trade uncertainty and potential trade barriers affecting the UAE operations or steel imports/exports.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with structural steel manufacturing standards and environmental pollution norms for steel processing units.

Environmental Compliance

Investing in solar/wind energy and water recycling to achieve zero liquid discharge across all operating units.

Taxation Policy Impact

Effective tax rate is implied in the transition from PBT of INR 960.44 Cr to PAT of INR 607.53 Cr for FY25.

Legal Contingencies

The company maintains an investor grievance redressal mechanism and reports high levels of transparency in board functioning; specific pending case values are not disclosed.