Apollo Pipes Ltd
Apollo Pipes Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Apollo Pipes aims to achieve around 100,000 tons of sales volume in FY '26, expecting stronger performance in the last 5 months after a weak first 7 months. Apollo Pipes aims for 20%+ volume growth in FY '26, targeting 100,000 to 105,000 tons sales, with improvement expected in H2 after a weak H1 due to industry headwinds.
From Apollo Pipes Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Apollo Pipes aims to achieve around 100,000 tons of sales volume in FY '26, expecting stronger performance in the last 5 months after a weak first 7 months.
- Targeting 20%+ volume growth initially, but guidance has been revised down due to subdued industry demand.
- Confident of reaching 125,000 tons sales volume in the following year (FY '27).
- Plans to expand total installed capacity to 286,000 tons over the next 2 years without debt.
- Expansion includes new plants in West and East India (Varanasi), expected to boost regional presence.
- Focus on increasing CPVC sales mix from 15-18% to over 25% in 2-3 years to improve margins.
- Expecting improved demand environment post-monsoon and higher government infrastructure spending to drive growth.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Apollo Pipes Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capex in H1 FY '26 was INR 92 crores; full-year target for FY '26 is INR 150 crores.
- For FY '27, capex expected to reduce to below INR 100 crores, normalizing to INR 40-50 crores annually thereafter.
- Majority of FY '26 capex focused on the new plant in Varanasi (Eastern India expansion).
- Future expansion plans include a greenfield plant in South India, contingent on consistent quarterly volumes hitting 35,000-40,000 tons.
- Capex funded through equity and internal cash flows, with no additional debt, keeping balance sheet healthy.
2 more points management made on capital expenditure plans
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Apollo Pipes Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- No specific figures or details about the current or expected order book or pending orders were disclosed in the transcript.
- Management discussed ongoing demand challenges due to weak end-user demand and delayed government infrastructure spending affecting sales momentum.
- There is mention of government tenders and demand ramp-up for OPVC pipes, with states like Bihar, Rajasthan, and Kerala coming to the final stages of tendering.
- Demand from government sector remains impacted due to delayed fund release to contractors, limiting fresh demand and supplies.
2 more points management made on order book & pipeline
Apollo Pipes Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹347 Cr, net loss ₹0 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Apollo Pipes's management said in earlier quarters
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Frequently Asked Questions
What were Apollo Pipes Ltd Q2 FY26 results?
Apollo Pipes aims to achieve around 100,000 tons of sales volume in FY '26, expecting stronger performance in the last 5 months after a weak first 7 months. Apollo Pipes aims for 20%+ volume growth in FY '26, targeting 100,000 to 105,000 tons sales, with improvement expected in H2 after a weak H1 due to industry headwinds.
What is Apollo Pipes Ltd share price analysis?
Apollo Pipes Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹2,250 Cr. Investors should review the full earnings analysis for detailed insights.
Is Apollo Pipes Ltd planning capital expenditure?
Capex in H1 FY '26 was INR 92 crores; full-year target for FY '26 is INR 150 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.