APL Apollo Tubes Limited has informed the exchange regarding the transcript of the Conference Call held on May 04, 2026
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APL Apollo Tubes reported strong Q4 FY '26 results with 9% volume growth YoY and record EBITDA per ton of INR5,500+. The company faced significant headwinds from the Middle East crisis (Dubai operations at 40% utilization), steel shortages, energy crisis in India, and channel de-stocking. Despite these challenges, full-year performance was robust with 37% ROCE, INR20 billion operating cash flow, and net cash balance of INR15 billion+. Management maintained FY '27 guidance of 15-20% volume growth, 20-25% EBITDA growth, and 25-30% PAT growth. The 8-million-ton capacity target by FY '28 remains on track with INR500-600 crores annual capex. Market share improved from 55% to 65% during the disruption period. Focus is on protecting margins rather than chasing volumes in the current uncertain environment.
The company's strong cash generation and net cash position provide financial flexibility. Management's commitment to dividend increases or buybacks after debt clearance signals shareholder-friendly capital allocation. Market share gains during disruptions indicate competitive resilience, though near-term volume pressure persists.