Apollo Pipes Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | Industrial Products | Market Cap: ₹2.6K Cr
Apollo Pipes targets high double-digit volume growth in coming years, including FY27. Apollo Pipes targets high double-digit volume growth in the coming years, including FY27, supported by new plants and product ramp-ups such as Varanasi and Maharashtra plants and Window profiles.
From Apollo Pipes's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Price
₹619
Market Cap
₹2.6K Cr
Revenue Rank
Margin Rank
How does Apollo Pipes rank in Industrial Products?
Compare Apollo Pipes against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
Apollo Pipes — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹347 Cr, net profit ₹0 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 3- →Apollo Pipes targets high double-digit volume growth in coming years, including FY27.
- →Q1 FY27 was flat YoY, but Q2 and subsequent quarters are expected to show double-digit growth YoY.
- →Long-term goal (by FY31): Four large plants across India, each generating Rs. 800-1,000 crore revenue with 10%+ EBITDA margins from PVC pipes.
- →New products (window profiles, water tank, bath fittings) expected to add ~Rs. 1,000 crore revenue in next 4-5 years.
- →Varanasi plant ramp-up: 30% capacity utilization in FY27, increasing to 70% by FY29, aiding revenue growth.
- →South India plant planned, with land identified; construction to start from FY28, expanding geographic reach and revenues.
- →CPVC segment and window profiles are key contributors to volume and revenue growth.
📈 Profitability & Margins
Rank 3- →Apollo Pipes targets high double-digit volume growth in the coming years, including FY27, supported by new plants and product ramp-ups such as Varanasi and Maharashtra plants and Window profiles.
- →Revenue goal: Rs.5,000 crores within 5 years, with 4 large plants each contributing Rs.800-1,000 crores by FY31.
- →EBITDA margin expected to be maintained at 7%-8% consolidated in the near term, with potential to improve by 50-100 bps as new plants stabilize.
- →Normalized business EBITDA margins were 7% in Q1 FY27; inventory losses impacted reported margins.
- →Long-term aims include 10%+ EBITDA margins from PVC pipes business and a Rs.1,000 crore revenue portfolio from new product lines.
- →Return on capital (ROC) expected around 25% on Rs.5,000 crores revenue with 10-12% EBITDA margin.
- →Cost synergies from Kisan merger estimated at ~1% overall company level.
🏗️ Capital Expenditure Plans
Yes- →Apollo Pipes plans a total CAPEX of around Rs. 200 crores over FY27 and FY28, approximately Rs. 100 crores each year.
- →This CAPEX will fund pending projects at Varanasi, ongoing brownfield expansions, new product additions, and the South India plant.
- →Land for the South India plant has been identified; acquisition expected to be completed in FY27, with plant construction potentially starting in Q2 FY28.
- →The company aims for Rs. 600-700 crores CAPEX over five years for growth, primarily funded (70%-80%) through internal cash flows; partial debt or equity issuance is possible if needed.
- →Focus on efficiency improvements like working capital optimization to support funding internally without raising debt or equity.
- →New product lines like Window profiles aim to contribute 7%-8% revenue by FY27, expanding further once capacity is utilized.
💰 Fundraising & Capital Structure
No- →Apollo Pipes is currently almost net cash and has funded recent CAPEX of Rs.500-600 crores through internal cash flow and promoter/foreign fundraise.
- →The next leg of CAPEX, requiring Rs.600-700 crores over five years, is planned to be funded 70%-80% from internal cash flows.
- →If additional funds are needed beyond internal cash flow, the company can manage some debt or raise equity, supported by a strong balance sheet.
- →Management is confident that ongoing CAPEX will be funded primarily from internal cash flows, with no immediate requirement to raise debt or equity.
📋 Order Book & Pipeline
No informationKey Metrics
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Frequently Asked Questions
What were Apollo Pipes Q1 FY27 results?
Apollo Pipes targets high double-digit volume growth in coming years, including FY27. Apollo Pipes targets high double-digit volume growth in the coming years, including FY27, supported by new plants and product ramp-ups such as Varanasi and Maharashtra plants and Window profiles.
What is Apollo Pipes share price analysis?
Apollo Pipes currently shows a below-average growth signal. The stock trades at a P/E of N/A with a market cap of ₹2,650 Cr. Investors should review the full earnings analysis for detailed insights.
Is Apollo Pipes planning capital expenditure?
Apollo Pipes plans a total CAPEX of around Rs.
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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.