APLAPOLLO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
APL Apollo Tubes reported its best-ever quarterly performance in Q4FY26 with record sales volume (925k tons), EBITDA (₹5.1bn), and PAT (₹3.5bn). For full year FY26, sales volume grew 11% YoY to 3,491k tons, while EBITDA surged 50% YoY to ₹18bn and net profit jumped 59% YoY to ₹12bn. The company achieved zero working capital days and built net cash of ₹15.3bn (vs ₹3.1bn in FY25). ROCE improved sharply to 37.3% from 24.5% in FY25. Management highlighted geopolitical challenges but said volume growth outpaced industry. The company plans to expand capacity from 5 Mn Ton to 8 Mn Ton by FY28 through greenfield, brownfield, and debottlenecking. Value-added product mix (EBITDA > Rs 5,000/ton) improved significantly, with Apollo Z coated products showing strongest per-ton profitability at ₹8,047/ton in Q4FY26.
Strong operational performance with margin expansion and cash generation signals financial health. The capacity expansion roadmap and improving product mix support long-term growth. Zero working capital and net cash position reduce balance sheet risk. However, management did not provide explicit forward guidance on margins or multi-year targets, so near-term expectations remain dependent on market conditions.