Apollo Pipes Limited has informed the Exchange about Transcript of the Conference call held on May 08, 2026
APOLLOPIPE · price
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Apollo Pipes reported a challenging FY26 with consolidated EBITDA declining 30% due to PVC price volatility, inventory write-downs, and aggressive pricing. The company crossed 1 lakh ton annual sales volume with standalone revenue of INR1,100 crore. Management has set an ambitious 5-year target of 35% revenue CAGR to reach INR5,000 crore by FY31. For Q1 FY27, the company is targeting INR400 crore+ revenue, indicating strong volume growth momentum. CPVC segment grew 10% in FY26 and is expected to grow 20%+ in FY27 following the Lubrizol tie-up. Kisan Mouldings (acquired entity) is barely EBITDA positive but will be merged into Apollo Pipes. PVC prices are expected to remain stable (+/-5%) with import duty reinstatement on July 1 likely to support pricing. Working capital days increased from 35 to 46 days but are targeted to return to 35 days by FY27.
Apollo Pipes is positioning for a recovery with aggressive volume growth strategy and margin improvement targets. The planned Kisan merger and new South India plant (FY28) provide clear medium-term growth visibility, though near-term margins remain under pressure from competitive intensity and new business ramp-up costs.