Apollo Pipes Limited has informed the Exchange about Transcript

Apollo Pipes reported 8% YoY growth in consolidated sales volume for Q2 FY'26, though margins remained under pressure due to weak industry demand, volatile PVC resin prices, and lower capacity utilization. Management revised down full-year volume guidance to ~100,000 tons (from an earlier 20%+ growth target of 120,000 tons), citing a weak first 7 months of FY'26, but expects a strong rebound in the remaining 5 months as construction activity resumes post-monsoon. The company is investing INR 92 crores in capex during H1 FY'26 (full-year target INR 150 crores) to expand capacity to 2,86,000 tons over 2 years entirely through internal accruals and equity, with no debt. Key strategic moves include a CPVC tie-up with Lubrizol (targeting CPVC mix beyond 25% in 2-3 years), ramp-up of the West India plant, and the upcoming Varanasi plant commissioning. An anticipated anti-dumping duty (ADD) in November is expected to drive a 7-8% rise in PVC resin prices and trigger channel restocking. Management targets low double-digit EBITDA margins and 20-22% ROCE over the next 2-3 years.