APL Apollo Tubes Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 19 Aug 2026 | Industrial Products | Market Cap: ₹59.4K Cr
Targeting 20% volume growth for Q4 FY'26 and for the full year FY'27. APL Apollo expects 20% volume growth in Q4 FY'26 and FY'27, maintaining a strong sales momentum.
From APL Apollo Tubes's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹2,139
Market Cap
₹59.4K Cr
P/E Ratio
48.3
How does APL Apollo Tubes rank in Industrial Products?
Compare APL Apollo Tubes against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
APL Apollo Tubes — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹6.3K Cr, net profit ₹354 Cr.
Full financials →📊 Revenue & Sales Performance
- →Targeting 20% volume growth for Q4 FY'26 and for the full year FY'27.
- →Expecting to produce minimum 4.2 million tons in FY'27 and 8 million tons by FY'28.
- →Capacity to expand from 5 million tons at end of FY'26 to 6 million tons by FY'27 and 8 million tons by FY'28, majorly through greenfield projects.
- →Aim for 10 million tons of steel tube capacity by 2030, including 2 million tons in the super specialty segment.
- →Confident of maintaining EBITDA per ton at INR5,500 minimum in the near term.
- →Volume growth supported by new brands, L1 pricing strategy, and increased capacity.
- →Super specialty tubes expected to deliver EBITDA of INR10,000 to INR15,000 per ton in future.
- →Free cash flows and operational improvements expected to support sustained volume and revenue growth.
📈 Profitability & Margins
- →APL Apollo expects 20% volume growth in Q4 FY'26 and FY'27, maintaining a strong sales momentum.
- →EBITDA per ton guidance has increased from INR4,800 to INR5,500, reflecting improved product mix and cost control.
- →Target sales volume for FY'27 is minimum 4.2 million tons, rising to 6 million tons by FY'27-end and 8 million tons by FY'28.
- →ROCE is expected to expand from current 33% to sub-40% levels by FY'27 due to better margins and volume growth.
- →Free cash flow generation is strong with surplus cash projected around INR1,500 crores by FY'26-end, enabling funding of capacity expansion internally.
- →The company targets EBITDA spread of INR5,500 per ton minimum, with ambitions of hitting INR6,000-10,000 per ton in future specialty segments.
- →Overall profit pool growth remains a strategic focus, aiming to deliver robust operating earnings growth alongside volume expansion.
🏗️ Capital Expenditure Plans
- →Capacity expansion from 5 million to 8 million tons planned by FY '28, involving four greenfield projects (Gorakhpur, Siliguri, New Malur in South India, Bhuj) and one brownfield expansion in Raipur for value-added products.
- →Additional 1 million ton capacity increase through debottlenecking and replacing existing mills with faster, modernized ones.
- →Total investment for 5 to 8 million ton capacity expansion is around INR 1,500 crores, funded from internal cash flows over the next 2 years.
- →Beyond 8 million tons, targeting an additional 2 million tons in super specialty segments (EVs, aerospace, petrochem, oil & gas, heavy engineering) by 2030, involving JVs with global partners.
- →Emphasis on cost control measures to achieve EBITDA target of INR 5,500 per ton.
- →Most of the capex is behind, with strong free cash flow generation expected to support ongoing and future investments.
💰 Fundraising & Capital Structure
📋 Order Book & Pipeline
- →The transcript provided in the PDF does not explicitly mention the current or expected order book or pending orders for APL Apollo Tubes Limited.
- →The focus of the discussion is mainly on volume growth, capacity expansion, EBITDA per ton, pricing strategies, and market share.
- →Management emphasizes aggressive volume growth guidance of 20% for Q4 FY26 and FY27.
- →They have a target to produce a minimum of 4.2 million tons in FY27.
- →Discussions also include maintaining above 60% domestic market share and expanding specialty tube segments.
- →There is no specific data or figures related to pending orders or order book status mentioned in the provided transcript pages.
Key Metrics
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What APL Apollo Tubes Ltd's management said in earlier quarters
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Frequently Asked Questions
What were APL Apollo Tubes Q3 FY26 results?
Targeting 20% volume growth for Q4 FY'26 and for the full year FY'27. APL Apollo expects 20% volume growth in Q4 FY'26 and FY'27, maintaining a strong sales momentum.
What is APL Apollo Tubes share price analysis?
APL Apollo Tubes currently shows a neutral. The stock trades at a P/E of 48.3 with a market cap of ₹59,391 Cr. Investors should review the full earnings analysis for detailed insights.
Is APL Apollo Tubes planning capital expenditure?
Capacity expansion from 5 million to 8 million tons planned by FY '28, involving four greenfield projects (Gorakhpur, Siliguri, New Malur in South India, Bhuj) and one brownfield expansion in Raipur for value-added products.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.