APL Apollo Tubes Ltd.

NSE: APLAPOLLO · Iron & Steel Products

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52W Range₹1,690 – ₹2,301

Snapshot

Unlock APL Apollo Tubes Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

APL Apollo Tubes Limited is a leading Indian manufacturer of structural steel tubes and pipes, catering to diverse sectors including construction, automotive, and infrastructure. The company offers a wide range of products, such as pre-galvanised sections, black round tubes, and specialised door and fencing solutions.

Business Model

The company generates revenue through the manufacturing and sale of structural steel products, leveraging a broad distribution network to serve both domestic and international markets. It focuses on high-value, value-added steel products to differentiate its offerings from commodity steel manufacturers.

Growth Outlook

Growth is driven by increasing demand for structural steel in the construction and infrastructure sectors, alongside the company's expansion into international markets. Continued innovation in product design and galvanising technologies supports its competitive positioning.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the price of steel and zinc can significantly impact the company's operating margins.
  • Cyclicality of Construction Sector. The company's performance is highly dependent on the health of the infrastructure and real estate industries, which are sensitive to economic cycles.
  • Competitive Intensity. The structural steel pipe market is fragmented, leading to intense price competition from both organised and unorganised players.
  • Regulatory and Trade Risks. Changes in import duties, trade policies, or environmental regulations regarding steel manufacturing could adversely affect operations.

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Key Metrics

REVENUE

₹24,693 Cr

TTM · consolidated

+15.8%YoY

NET PROFIT

₹1,310 Cr

TTM · consolidated

+24.9%YoY

EPS

₹47.03

TTM · consolidated

+24.5%YoY

RETURN ON EQUITY

25.3%

TTM · consolidated

+2.5 ppYoY

RETURN ON CAPITAL EMPLOYED

32.1%

TTM · consolidated

+4.4 ppYoY

P/E

46.0×

Q2 FY27 · consolidated

46.0 vs 110.5x5Y avg

EV/EBITDA

28.5x

Q2 FY27 · consolidated

28.5 vs 68.4x5Y avg

EBITDA MARGIN

8.6%

TTM · consolidated

+0.7 ppYoY

NET PROFIT MARGIN

5.5%

Q2 FY27 · consolidated

-0.3 ppYoY

DEBT TO EQUITY

0.2x

Q2 FY27 · consolidated

+0.01xYoY

Peers · Iron & Steel Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
APL Apollo Tubes Ltd.APLAPOLLO
₹60,116 Cr46.0×28.4715.8%8.6%25.3%32.1%+20.8%
Welspun Corp Ltd.WELCORP
₹61,769 Cr25.8×22.2313.6%15.5%25.2%20.3%+139.7%
Shyam Metalics and Energy Ltd.SHYAMMETL
₹32,460 Cr24.2×11.3925.8%14.1%11.7%15.1%+35.7%
Ratnamani Metals & Tubes LimitedRATNAMANI
₹16,256 Cr39.4×19.60-16.3%19.5%13.3%16.5%+0.3%
Jindal Saw Ltd.JINDALSAW
₹14,584 Cr28.3×9.83-0.7%10.1%4.0%8.1%+38.9%
Usha Martin Ltd.USHAMART
₹13,588 Cr27.6×16.258.5%21.6%16.8%21.1%-1.2%

As of Q2 FY27

Financials