Apollo Pipes Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • PVC Pipes & Fittings Segment: 100.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Promoters have been increasing their shareholding - up 5.8pp over 2 years
- Company has delivered good sales growth of 65.3% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.31x)
- Company has been maintaining a healthy dividend payout of 41.2%
CONS
- Recent results are weak - TTM profit is down 140.5% versus prior year
- A large part of profit comes from other income (108.5% of PBT)
- Company has a low return on equity of 7.2% over last 3 years
- Company has a low return on capital employed of 10.0%
- Receivables are growing faster than sales - a possible quality concern
- Interest coverage is weak at 1.9x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUPREMEIND | 3500.65 | 43.07 | 44467.66 | 1.03 | 280.72 | 38.76 | 2717.66 | 4.16 | 21.49 | 17.33 |
| ASTRAL | 1460.00 | 68.15 | 39222.92 | 0.27 | 120.20 | 51.77 | 1578.00 | 15.93 | 19.95 | 14.65 |
| GRWRHITECH | 6911.40 | 41.40 | 16056.84 | 0.17 | 132.65 | 59.78 | 633.08 | 27.90 | 18.08 | 27.17 |
| SHAILY | 3371.35 | 87.71 | 15506.61 | 0.09 | 48.01 | 16.75 | 280.67 | 13.77 | 29.46 | 29.59 |
| FINPIPE | 157.05 | 15.83 | 9744.59 | 1.75 | 114.52 | 16.67 | 883.58 | -15.30 | 12.73 | 12.09 |
| TIMETECHNO | 185.00 | 18.64 | 9132.25 | 0.81 | 1178.60 | 1120.71 | 16927.10 | 1151.40 | 17.37 | 13.25 |
| KINGFA | 6211.15 | 37.30 | 8416.97 | 0.00 | 80.21 | 101.58 | 688.57 | 49.06 | 30.70 | 16.12 |
| RESPONIND | 169.25 | 44.54 | 4512.35 | 0.06 | 2.74 | -94.51 | 192.87 | -43.06 | 10.76 | 12.09 |
| POLYPLEX | 1124.45 | 22.73 | 3529.93 | 0.27 | 171.07 | 386.02 | 2253.62 | 29.62 | 1.51 | 13.15 |
| PRINCEPIPE | 279.60 | 30.27 | 3091.29 | 0.36 | 337.49 | 6900.41 | 6094.18 | 949.97 | 6.20 | 12.66 |
| NILKAMAL | 2067.60 | 24.75 | 3085.38 | 0.97 | 24.40 | 59.20 | 819.73 | -7.18 | 10.76 | 9.44 |
| APOLLOPIPE | 568.50 | 0.00 | 2504.14 | 0.12 | -11.12 | -236.20 | 295.44 | 7.43 | 2.26 | 1.03 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 256 | 308 | 250 | 308 | 315 | 275 | 236 | 247 | 347 | 295 | |
| 230 | 280 | 231 | 285 | 291 | 254 | 220 | 235 | 329 | 310 | |
| Operating Profit | 25 | 29 | 19 | 23 | 24 | 21 | 16 | 12 | 18 | -15 |
| OPM % | 9.95% | 9.39% | 7.75% | 7.56% | 7.64% | 7.52% | 6.69% | 4.86% | 5.20% | -5.03% |
| 0 | 1 | 1 | 0 | 3 | 3 | 5 | 1 | 2 | 2 | |
| Interest | 1 | 2 | 4 | 3 | 2 | 2 | 3 | 2 | 3 | 3 |
| Depreciation | 8 | 10 | 11 | 12 | 12 | 12 | 14 | 15 | 15 | 15 |
| Profit before Tax | 16 | 18 | 6 | 9 | 13 | 9 | 4 | -5 | 1 | -13 |
| Tax % | 56.36% | 22.02% | 31.54% | 26.16% | 25.34% | 10.62% | 66.42% | 6.13% | 108.39% | 12.04% |
| Net Profit | 0 | 14 | 4 | 6 | 10 | 8 | 1 | -5 | -0 | -11 |
| 1.71 | 3.36 | 0.95 | 1.45 | 2.24 | 1.85 | 0.31 | -1.08 | -0.03 | -2.52 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 90 | 208 | 240 | 987 | 1,182 | 1,105 | 1,125 | |
| 82 | 184 | 208 | 890 | 1,085 | 1,038 | 1,094 | |
| Operating Profit | 8 | 24 | 32 | 97 | 97 | 67 | 31 |
| OPM % | 8.78% | 11.46% | 13.32% | 9.78% | 8.20% | 6.08% | 2.75% |
| 10 | 0 | 0 | 4 | 5 | 10 | 10 | |
| Interest | 3 | 5 | 4 | 6 | 12 | 11 | 11 |
| Depreciation | 2 | 4 | 5 | 30 | 45 | 57 | 60 |
| Profit before Tax | 13 | 15 | 24 | 65 | 45 | 10 | -12 |
| Tax % | 8.72% | 35.43% | 34.86% | 33.94% | 24.96% | 51.45% | -20.14% |
| Net Profit | 12 | 10 | 16 | 43 | 34 | 5 | -15 |
| EPS | 0.00 | 0.00 | 0.00 | 10.84 | 7.41 | 1.70 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 9.23% | 9.44% | 41.19% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 65%
- 3 Years:
- 66%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- -2%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 1%
- 3 Years:
- -7%
- 1 Year:
- 39%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 21%
- 3 Years:
- 7%
- Last Year:
- 1%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 39 | 44 | 44 |
| Minority Interest | 21 | 26 | 34 | 94 | 87 | 74 |
| 19 | 24 | 32 | 470 | 747 | 745 | |
| 41 | 30 | 18 | 63 | 71 | 118 | |
| Trade Payables | 9 | 9 | 19 | 167 | 174 | 191 |
| 12 | 12 | 14 | 155 | 68 | 76 | |
| Total Liabilities | 107 | 106 | 121 | 988 | 1,191 | 1,248 |
| 37 | 45 | 49 | 497 | 555 | 571 | |
| Capital Work in Progress | 0 | 0 | 0 | 8 | 37 | 90 |
| 0 | 0 | 0 | 52 | 65 | 68 | |
| 25 | 14 | 23 | 199 | 213 | 242 | |
| 0 | 0 | 0 | 80 | 95 | 104 | |
| Cash & Bank | 3 | 2 | 1 | 56 | 138 | 84 |
| 41 | 45 | 47 | 97 | 88 | 89 | |
| Total Assets | 107 | 106 | 121 | 988 | 1,191 | 1,248 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -1 | 27 | 22 | 125 | 29 | 35 | |
| Cash from Investing | -40 | -12 | -9 | -214 | -151 | -134 |
| Cash from Financing | 36 | -11 | -8 | -64 | 205 | 45 |
| 3 | -1 | -1 | -153 | 83 | -54 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Apollo Pipes Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-31 - Apollo Pipes Limited has informed the Exchange regarding Notice of Postal Ballot
2026-08-31 - Apollo Pipes Limited has informed the Exchange about Preferential issue
2026-08-31 - Apollo Pipes Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.
2026-08-04 - Apollo Pipes Limited has informed the Exchange about change in Management
2026-08-04 - Apollo Pipes Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 04, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-03 - Apollo Pipes Limited has informed the Exchange about Newspaper Publication of Notice to Shareholder regarding transfer of Equity Share of the Company to the IEPF.
2026-08-03 - Apollo Pipes Limited has informed the Exchange about Transcript of investor call held on July 31, 2026.
2026-07-31 - Apollo Pipes Limited has informed the Exchange about Link of Recording of the Investor call held on July 31, 2026.
News
Recent coverage and analyst commentary for APOLLOPIPE
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