Manufactures structural steel tubes, with FY26 consolidated revenue of ₹23,079 crore and an EBITDA margin of 8.29%. The product range spans the APL Apollo Brand, SG Premium Brand, Roofing Products and UAE Operations, with branded premium lines growing share. Per-ton EBITDA moved into the ₹5,000-5,500 range, driven by product mix and brand-led pricing rather than inventory gains. Raw materials — primarily steel — make up 76.8% of revenue, making the business sensitive to input prices. Housing and construction are the largest demand drivers, with government infrastructure spending flagged to lift volumes in 2H FY27. The company is expanding capacity toward 8 million tons by FY28, with ₹1,400-1,500 crore of capex still pending and funded from internal cash flows. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. APL Apollo Brand, SG Premium Brand, Roofing Products, UAE / Dubai Operations. Asset-heavy, cyclical steel tube manufacturing with brand-led pricing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 13,063 | 16,166 | 18,119 | 20,690 | 23,079 |
| EBITDA (ex other income) | 945 | 1,022 | 1,192 | 1,199 | 1,802 |
| margin % | 7.2 | 6.3 | 6.6 | 5.8 | 7.8 |
| Owners' profit | 557 | 642 | 0 | 757 | 1,203 |
| EPS, as reported (₹) | 22.30 | 23.15 | 26.40 | 27.28 | 43.34 |
| ROE % · ROCE % | 25.1 · 29.0 | 21.4 · 25.3 | 20.3 · 23.3 | 18.0 · 22.0 | 22.7 · 28.2 |
| Debt / equity (x) | 0.24 | 0.29 | 0.31 | 0.15 | 0.09 |
| Cash from operations | 652 | 690 | 1,112 | 1,213 | 2,103 |
| Capex | (597) | (862) | (695) | (723) | (696) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,774 | 5,433 | 5,509 | 5,170 | 5,206 | 5,815 | 6,269 | 5,607 |
| Profit before tax | 70 | 280 | 359 | 310 | 386 | 404 | 457 | 352 |
| Net profit | 54 | 217 | 293 | 237 | 302 | 310 | 354 | 263 |
| EPS (₹) | 1.94 | 7.82 | 10.56 | 8.55 | 10.86 | 11.17 | 12.76 | 9.48 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD ◆ | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · APL Apollo incorporates group shared services entity | strategic transactions | low | — | — |
| 10 Sept 2026 · APL Apollo incorporates shared services arm, holds 20 percent stake | strategic transactions | medium | — | — |
| 23 Aug 2026 · APL Apollo informs exchanges about completion of 41st AGM Notice despatch | compliance | minimal | — | — |
| 22 Aug 2026 · GST appellate authority further reduces demand to Rs. 15.41 lakh | regulatory legal | high | — | — |
| 22 Aug 2026 · GST appeal win: demand cut from Rs 3.15 cr to Rs 1.02 lakh | regulatory legal | high | — | — |
| 21 Aug 2026 · APL Apollo Tubes 41st AGM on Sept 15 2026; final dividend Rs 8.50 per share | board shareholder meetings | low | — | — |
| 19 Aug 2026 · APL Apollo 41st AGM notice published in newspapers; Rs 8.50 dividend proposed | compliance | minimal | — | — |
| 19 Aug 2026 · APL Apollo Tubes: 41st AGM on 15 Sep 2026; Rs 8.50 final dividend proposed | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Record date fixed for FY26 final dividend of Rs 8.50 per share | corporate actions | high | — | — |
| 5 Aug 2026 · Q1 FY27 earnings call transcript; maintains 20% EBITDA growth guidance | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 10.9 |
| 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 48.6 | 16.2 | 102 of 118 | 14% |
| P/B | 11.3 | 1.7 | 94 of 99 | 5% |
| ROCE | 26.1 | 8.7 | 7 of 120 | 95% |
| ROE | 22.7 | 8.6 | 10 of 114 | 92% |
| Debt / Equity | 0.1 | 0.1 | 53 of 114 | 54% |
| EBITDA margin | 8.0 | 11.0 | 61 of 100 | 39% |
| Revenue growth | 8.4 | 13.7 | 58 of 97 | 41% |
| Profit growth | 10.9 | 29.3 | 65 of 105 | 39% |
| Market cap | 59803 | 247 | 2 of 120 | 99% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
