Apollo Pipes Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,211 Cr
- ROE
- -0.88%
- Price to sales
- 1.95
- Debt to equity
- 0.15
- 52W high / low
- ₹664 / ₹254
- EBITDA margin
- 4.34%
- Net profit margin
- -0.90%
- Promoter holding
- 53.05%
- Sales (last year)
- ₹1,125 Cr
Apollo Pipes is engaged in manufacturing and trading of cPVC, uPVC, and HDPE pipes, PVC taps, fittings, water storage tank and solvent etc. It is among the top 10 leading piping solution providing Company in India. The products cater to an array of industrial applications such as Agriculture, Water Management, Construction,Infrastructure,and Telecom ducting segments.
Guidance scorecard · Q1 FY27 call
What Apollo Pipes Ltd's management guided
and where it ranks in Industrial Products
RevenueQ1 FY27 call
10–20%- 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.
2 more points from Apollo Pipes Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Apollo Pipes Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- 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.
2 more points from Apollo Pipes Ltd's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Apollo Pipes Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Apollo Pipes Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingApollo Pipes Ltd announcements
All announcements →- Board / shareholder meeting outcomeNotableApollo Pipes Limited announces postal ballot results for share capital and warrants
Financials of Apollo Pipes Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Apollo Pipes Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 56.27 | 50.05 | 70.67 | 83.14 | 255.60 | 308.50 | 250.44 | 307.93 | 314.78 | 275.00 | 235.71 | 247.18 | 347.02 |
| Expenses + | 49.31 | 44.97 | 61.19 | 76.87 | 230.19 | 279.54 | 231.03 | 284.66 | 290.74 | 254.32 | 219.94 | 235.17 | 328.98 |
| Operating Profit | 6.96 | 5.08 | 9.48 | 6.27 | 25.41 | 28.96 | 19.41 | 23.27 | 24.04 | 20.68 | 15.77 | 12.01 | 18.04 |
| OPM % | 12.37% | 10.15% | 13.41% | 7.54% | 9.94% | 9.39% | 7.75% | 7.56% | 7.64% | 7.52% | 6.69% | 4.86% | 5.20% |
| Other Income + | 0.09 | 0.11 | 0.92 | 0.87 | 0.33 | 0.99 | 0.64 | 0.28 | 3.36 | 3.00 | 5.35 | 0.57 | 1.49 |
| Interest | 0.93 | 1.08 | 0.65 | 0.74 | 1.47 | 2.23 | 3.70 | 3.13 | 1.93 | 2.44 | 2.51 | 2.43 | 3.05 |
| Depreciation | 1.11 | 1.07 | 1.46 | 1.32 | 8.46 | 9.93 | 10.58 | 11.78 | 12.25 | 12.12 | 14.50 | 15.21 | 15.06 |
| Profit before tax | 5.01 | 3.04 | 8.29 | 5.08 | 15.81 | 17.79 | 5.77 | 8.64 | 13.22 | 9.12 | 4.11 | -5.06 | 1.42 |
| Tax % | 37.33% | 34.54% | 34.50% | 37.80% | 56.36% | 21.98% | 31.54% | 26.16% | 25.26% | 10.53% | 66.42% | -6.13% | 109.86% |
| Net Profit + | 3.15 | 1.99 | 5.43 | 3.17 | 6.90 | 13.88 | 3.95 | 6.39 | 9.87 | 8.16 | 1.39 | -4.75 | -0.13 |
| EPS in Rs | 1.05 | 0.67 | 3.62 | 2.11 | 1.71 | 3.02 | 1.01 | 1.41 | 2.22 | 1.85 | 0.37 | -0.74 | 0.22 |
Financials of Apollo Pipes Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 100 | 233 | 268 | 987 | 1,182 | 1,105 |
| Expenses + | 92 | 209 | 236 | 890 | 1,085 | 1,038 |
| Operating Profit | 8 | 24 | 32 | 97 | 97 | 66 |
| OPM % | 8% | 10% | 12% | 10% | 8% | 6% |
| Other Income + | 9 | 0 | 0 | 4 | 5 | 10 |
| Interest | 3 | 5 | 4 | 6 | 12 | 10 |
| Depreciation | 2 | 4 | 5 | 30 | 45 | 57 |
| Profit before tax | 13 | 15 | 24 | 65 | 45 | 10 |
| Tax % | 9% | 35% | 35% | 34% | 25% | 51% |
| Net Profit + | 12 | 10 | 16 | 43 | 34 | 5 |
| EPS in Rs | 3.87 | 3.34 | 5.27 | 10.84 | 7.41 | 1.70 |
| Dividend Payout % | 0% | 0% | 0% | 9% | 9% | 41% |
Financials of Apollo Pipes Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 39 | 44 | 44 |
| Reserves | 19 | 24 | 32 | 535 | 749 | 775 |
| Borrowings + | 45 | 34 | 20 | 69 | 93 | 124 |
| Other Liabilities + | 38 | 43 | 64 | 357 | 331 | 343 |
| Total Liabilities | 107 | 106 | 121 | 1,000 | 1,217 | 1,286 |
| Fixed Assets + | 37 | 45 | 49 | 497 | 555 | 571 |
| CWIP | 0 | 0 | 0 | 8 | 37 | 90 |
| Investments | 0 | 0 | 0 | 52 | 65 | 68 |
| Other Assets + | 69 | 60 | 71 | 443 | 560 | 556 |
| Total Assets | 107 | 106 | 121 | 1,000 | 1,217 | 1,286 |
Financials of Apollo Pipes Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 7 | 22 | 16 | 125 | 29 | 35 |
| Cash from Investing Activity + | -40 | -12 | -9 | -214 | -151 | -134 |
| Cash from Financing Activity + | 36 | -11 | -8 | -64 | 205 | 45 |
| Net Cash Flow | 3 | -1 | -1 | -153 | 83 | -54 |
| Free Cash Flow | -33 | 10 | 8 | 28 | -101 | -85 |
| CFO/OP | 106% | 111% | 69% | 148% | 42% | 65% |
Financials of Apollo Pipes Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 72 | 46 | 47 | 29 | 29 | 34 |
| Inventory Days | 125 | 31 | 47 | 102 | 94 | 114 |
| Days Payable | 46 | 20 | 39 | 85 | 77 | 90 |
| Cash Conversion Cycle | 151 | 57 | 54 | 46 | 46 | 58 |
| Working Capital Days | 44 | 18 | 43 | -3 | 20 | 14 |
| ROCE % | 22% | 31% | 7% | 2% |
Guidance history
How Apollo Pipes Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | None planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 10–20% | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
38 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +67.3% | 90% |
| Last 6 months | +10.9% | 69% |
| Last 3 months | −2.6% | 62% |
The price is 35.9% below its all-time high of ₹782.8 (9 Feb 2024). Stocks more than 20% below their peak have their score halved, so 76 became 38.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Apollo Pipes Ltd: 0.4 × 90 + 0.4 × 69 + 0.2 × 62 = 76, halved to 38 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Apollo Pipes Ltd's management said in earlier quarters
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