Apollo Pipes Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

Published 18 Aug 2026 | Industrial Products | Market Cap: ₹2.3K Cr

Apollo Pipes targets a 35% revenue CAGR over the next 5 years, aiming for INR 5,000 crores revenue by FY31. - Current plants have the capacity for INR 1,000 crores each; a new South India plant with similar capacity is planned to come online by FY28 end. - Allied products like windows, bath fittings, and water tanks will contribute additional revenues (e.g., window profiles expected to contribute ~1.5% of total sales, growing to 4-5% of construction plumbing segment revenues). - Volume growth is expected to be double-digit, supported by aggressive pricing, increased dealer network, and product portfolio expansion including CPVC (targeting over 20% growth in CPVC for FY27). - The company aims to increase market share from approx. Apollo Pipes targets a 35% revenue CAGR over the next 5 years, aiming to reach INR 5,000 crore revenue by FY31.

From Apollo Pipes Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹602

Market Cap

₹2.3K Cr

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Apollo Pipes Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹347 Cr, net profit ₹0 Cr.

Full financials →

📊 Revenue & Sales Performance

→Apollo Pipes targets a 35% revenue CAGR over the next 5 years, aiming for INR 5,000 crores revenue by FY31.
→Current plants have the capacity for INR 1,000 crores each; a new South India plant with similar capacity is planned to come online by FY28 end.
→Allied products like windows, bath fittings, and water tanks will contribute additional revenues (e.g., window profiles expected to contribute ~1.5% of total sales, growing to 4-5% of construction plumbing segment revenues).
→Volume growth is expected to be double-digit, supported by aggressive pricing, increased dealer network, and product portfolio expansion including CPVC (targeting over 20% growth in CPVC for FY27).
→The company aims to increase market share from approx. 2-2.5% to 3-3.5% in 3-4 years by capturing share from smaller, unorganized players.
→Working capital normalization and ramp-up at existing plants like Varanasi will improve margins and support volume growth.

📈 Profitability & Margins

→Apollo Pipes targets a 35% revenue CAGR over the next 5 years, aiming to reach INR 5,000 crore revenue by FY31.
→EBITDA margins are expected to improve gradually with operating leverage benefits, especially in Apollo standalone (targeting INR 8,500 to INR 9,000 per ton EBITDA).
→Kisan Mouldings is currently breaking even but is expected to improve margins significantly within 1-2 quarters.
→FY27 guidance includes capex of around INR 100 crore focused on ramping up existing plants and brownfield expansions to support volume growth.
→The company expects working capital days to normalize below 35 days by FY27, aiding cash flow.
→Volume growth drivers include strong demand in plumbing and agriculture segments, expected market share increase from ~2.5% to 3-3.5% over 3-4 years.
→Margin improvement anticipated from Q1 FY27 aided by improved pricing, operational efficiencies, and product mix expansion like CPVC and allied products.

See what Apollo Pipes Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→FY26 capex spent: INR 150 crores.
→FY27 planned capex: Approximately INR 100 crores focused on:
→ - Increasing Kisan plant capacity to generate INR 1,000 crores revenue.
→ - Brownfield expansions at existing plants.
→Kisan Mouldings:
→ - INR 30-40 crores already spent for capacity ramp-up.
→ - Additional INR 50-60 crores planned for brownfield expansion to reach INR 1,000 crore revenue.
→South India plant:
→ - Land acquisition and groundwork expected to start after 1 year.
→ - Plant expected to be operational by FY28 end.
→Strategic investments include product portfolio expansion (window profiles, bath fittings, water tanks) and leveraging group dealer network for growth.

💰 Fundraising & Capital Structure

→The transcript does not mention any current or immediate plans for fundraising through debt or equity.
→Capex plans include INR150 crore spent in FY26 and about INR100 crore planned for FY27, primarily for ramping up existing plants and brownfield expansions.
→New South India plant and allied product expansion are planned, but funding details or any fundraising plans are not specifically discussed.
→No explicit mention of debt or equity raises within the provided conference call transcript.

See what Apollo Pipes Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

The transcript does not explicitly mention any details regarding the current or expected order book or pending orders for Apollo Pipes Limited. However, some relevant points that might indirectly reflect business momentum are: - The company is targeting a Q1 FY27 revenue of around INR 400 crores, indicating strong sales pipeline and order intake. - There is a focus on volume growth based on core products, dealer network expansion, and pricing strategies. - Demand in agri and plumbing segments is reported as good, with rural demand outperforming urban recently. - Government infrastructure demand remains low, and no significant infra sales have been seen yet. - The company plans capacity expansions and new plants (South India, Varanasi) to support a 35% revenue CAGR over 5 years. - Aggressive pricing and channel inventory management indicate active channel engagement but no direct mention of order backlog. Hence, while no specific order book figures are provided, the company expects healthy demand and volume momentum.

Key Metrics

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Frequently Asked Questions

What were Apollo Pipes Ltd Q4 FY26 results?

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?

FY26 capex spent: INR 150 crores.

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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.