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APL Apollo Tubes Results: Latest Quarterly Results & Analysis

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APL Apollo Tubes Ltd. 03 Aug 2026 11:55 AM
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Q1FY27 Quarterly Result Announced for APL Apollo Tubes Ltd.

Iron & Steel Products company APL Apollo Tubes announced Q1FY27 results

Consolidated Financial Highlights:

  • Total Income for Q1FY27 stood at Rs 5,646.23 crore, representing an 8.68% increase YoY from Rs 5,195.34 crore in Q1FY26, but a 10.46% decrease QoQ from Rs 6,305.65 crore in Q4FY26.
  • Revenue from Operations for Q1FY27 was Rs 5,606.71 crore, reflecting an 8.45% growth compared to Rs 5,169.77 crore in Q1FY26, and a 10.57% decline compared to Rs 6,269.16 crore in Q4FY26.
  • Profit before tax for Q1FY27 reached Rs 352.43 crore, showing a 13.71% YoY increase from Rs 309.95 crore in Q1FY26, and a 22.82% QoQ decrease from Rs 456.61 crore in Q4FY26.
  • Net Profit for Q1FY27 (Profit for the period) was Rs 263.11 crore, marking a 10.94% YoY increase from Rs 237.17 crore in Q1FY26, but a 25.75% QoQ decrease from Rs 354.35 crore in Q4FY26.
  • Basic Earnings Per Share (EPS) for Q1FY27 was Rs 9.48, compared to Rs 8.55 in Q1FY26 and Rs 12.76 in Q4FY26.
  • The Group's Net Worth as of June 30, 2026, was Rs 5,579.01 crore, compared to Rs 5,296.53 crore in FY26.

Standalone Financial Highlights:

  • Total Income for Q1FY27 was Rs 3,851.38 crore, up 13.62% YoY from Rs 3,389.73 crore in Q1FY26, and down 9.29% QoQ from Rs 4,245.83 crore in Q4FY26.
  • Revenue from Operations for Q1FY27 stood at Rs 3,801.88 crore, an increase of 12.73% YoY from Rs 3,372.54 crore in Q1FY26, but a decrease of 9.82% QoQ from Rs 4,215.93 crore in Q4FY26.
  • Profit before tax for Q1FY27 reached Rs 198.74 crore, reflecting a 27.04% growth YoY from Rs 156.44 crore in Q1FY26, while decreasing by 26.58% QoQ from Rs 270.71 crore in Q4FY26.
  • Net Profit for Q1FY27 was Rs 146.98 crore, a 26.65% YoY increase from Rs 116.05 crore in Q1FY26, and a 28.34% QoQ decrease from Rs 205.10 crore in Q4FY26.
  • Basic Earnings Per Share (EPS) for Q1FY27 was Rs 5.29, compared to Rs 4.18 in Q1FY26 and Rs 7.39 in Q4FY26.
  • Standalone Net Worth as of June 30, 2026, stood at Rs 3,638.01 crore.

Business Highlights:

  • Manufacturing Rationalisation: The Board took note of the approval granted by Apollo Metalex Limited ("AML"), a material subsidiary, for the phased consolidation of production activities from its A-25 manufacturing unit at Sikandrabad, Uttar Pradesh, to other Group manufacturing facilities. This includes the consequential disposal of the land and building of the A-25 unit.
  • Group Shared Services Company: The Company approved participation in the proposed incorporation of a Group Shared Services Company ("SSC") and an investment of up to 20% of its equity share capital for an amount not exceeding Rs 1,00,00,000 (Rs 1 crore).
  • Divestment of Subsidiary: During Q1FY27, the Holding Company executed a share purchase agreement to sell its entire shareholding in Blue Ocean Projects Private Limited (BOPL) for a total consideration of Rs 160.00 crore. As of June 30, 2026, the assets and liabilities of BOPL have been classified as held for sale.
  • Segment Performance: The Group operates in a single reportable operating segment, which is the "Manufacturing of ERW steel tube and pipes."
  • Expansion Initiatives: The manufacturing consolidation is part of strategic restructuring aimed at optimizing manufacturing footprint, improving capacity utilization, and redeploying capital towards core manufacturing operations and future growth initiatives.

Sanjay Gupta, Chairman, APL Apollo, said: “The company reported Q1FY27 sales volume of 744,823 Ton which was below our own expectations. The demand for the structural steel tubes was soft due to the geopolitical situation and challenging macroeconomic environment. However, the quarterly EBITDA of Rs 5,522 per ton demonstrates APL Apollo’s strengths such as improving sales mix and brand power. Better margins resulted in EBITDA growth of 11% YoY and Net Profit growth of 11% YoY.

We expect demand conditions to improve in the coming quarters on the back of an improved government budget allocation for the infrastructure sector. We are ready with our capacity, product range, distribution network and brand pull. Hence, we expect H2FY27 to perform much better than H1FY27. The company's commitment to delivering exceptional quality, coupled with its unwavering dedication to customer satisfaction, has propelled it to the forefront of the industry. We continue to remain prudent with our working capital management, which remains best in the construction material sector.”

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Iron & Steel Products company APL Apollo Tubes announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Sales volume of 924,881 Ton ( 9% YoY, 1% QoQ).
  • EBITDA of Rs 5.1 billion ( 24% YoY, 8% QoQ).
  • EBITDA/ Ton of Rs 5,525 ( 14% YoY, 7% QoQ).
  • Net Profit of Rs 3.5  ( 21% YoY, 14% QoQ).

FY26 Financial Highlights:

  • Sales volume increased by 11% YoY to 3,491,243 Ton.
  • EBITDA increased by 50% YoY to Rs 18.0 billion.
    • EBITDA per ton at Rs 5,161/Ton.
  • Net Profit increased by 59% YoY to Rs12.0 billion.

Sanjay Gupta, Chairman, APL Apollo, said: “APL Apollo has delivered its best-ever quarterly performance in Q4FY26, with all-time high sales volume, EBITDA, and PAT. It is a remarkable milestone given the challenges arising due to geopolitical tensions and global trade tariffs throughout the year. For FY26, the company’s volume increased 11% YoY, which is ahead of overall industry growth. We remain focused on innovation and delivering the best customer experience to further enhance our leadership position in the industry. We are ready with our enhanced capacity, diversified product portfolio, distribution network and strong brand pull. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q3FY26 results

  • Sales volume of 916,976 Ton ( 11% YoY, 7% QoQ).
  • EBITDA of Rs 4.7 billion ( 37% YoY, 6% QoQ).
  • EBITDA/ Ton of Rs 5,146 ( 23% YoY, -2% QoQ).
  • Net Profit of Rs 3.1 billion ( 43% YoY, 3% QoQ).

Sanjay Gupta, Chairman, APL Apollo, said: “APL Apollo has delivered its best-ever quarterly performance in Q3FY26, with all-time high sales volume, EBITDA, and PAT. It is a remarkable milestone given the challenging demand environment faced by the construction material industry. Despite construction ban in the Delhi-NCR due to elevated pollution levels, a subdued macroeconomic environment, global trade uncertainty and ongoing slowdown in government infrastructure spending, APL Apollo has delivered exceptional resilience and execution strength.

For 9MFY26, the company’s volume increased 11% YoY, which is ahead of overall industry growth. We remain focused on innovation and delivering the best customer experience to further enhance our leadership position in the industry. We are ready with our capacity, diversified product portfolio, distribution network and strong brand pull. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q2FY26 results

  • Sales volume increased by 11% YoY to 1,649,387 Ton.
  • EBITDA increased by 86% YoY to Rs 8.2 billion.
    • EBITDA per ton at Rs 4,966/Ton.
  • Net Profit increased by 118% YoY to Rs 5.4 billion.

Sanjay Gupta, Chairman, APL Apollo, said: “APL Apollo has delivered its best-ever quarterly performance in Q2FY26, with highest sales volume, EBITDA, and PAT. It is a remarkable milestone given the challenging demand environment faced by the construction material industry. Despite extended monsoons, a subdued macroeconomic environment, global trade uncertainty and ongoing slowdown in government infrastructure spending, APL Apollo has delivered exceptional resilience and execution strength.

We are ready with our capacity, diversified product portfolio, distribution network and strong brand pull. Henceforth we expect H2FY26 to perform much better than H1FY26. The company's commitment to delivering exceptional product quality, coupled with its unwavering dedication to customer satisfaction, has propelled it to the forefront of the industry. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q1FY26 results

  • Sales volume increased by 10% YoY to 794,350 Ton.
  • Revenue increased by 4% YoY to Rs 51.7 billion.
  • EBITDA increased by 23% YoY to Rs 3.7billion.
    • EBITDA per ton at Rs 4,683/Ton.
  • Net Profit increased by 23% YoY to Rs 2.4 billion.

Sanjay Gupta, Chairman, APL Apollo, said: "The company reported 10% YoY growth in sales volume which was below our own expectations. The demand conditions for the structural steel tube industry were tough due to challenging macroeconomic environment, geopolitical tension, USA tariff uncertainty and slowdown in government spending. Early onset of monsoon season across India impacted construction industry.

We expect demand conditions to improve in second half of the current financial year on the back of an improved government budget allocation for the infrastructure sector.

We are ready with our capacity, product range, distribution network and brand pull. Henceforth we expect H2FY26 to perform much better than H1FY26.

The company's commitment to delivering exceptional quality, coupled with its unwavering dedication to customer satisfaction, has propelled it to the forefront of the industry. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Sales volume of 850,447 Ton ( 25% YoY, 3% QoQ)
  • EBITDA of Rs 4.1 billion ( 48% YoY, 20% QoQ)
  • EBITDA/ Ton of Rs 4,864 ( 18% YoY, 17% QoQ)
  • Net Profit of Rs 2.9 billion ( 72% YoY, 35% QoQ)

FY25 Financial Highlights:

  • Sales volume increased by 21% YoY to 3,157,978 Ton
  • Revenue increased by 14% YoY to Rs 206.9 billion
  • EBITDA increased by 1% YoY to Rs 12 billion
    • EBITDA per ton at Rs 3,797/Ton
  • Net Profit increased by 3% YoY to Rs 7.6 billion

Sanjay Gupta, Chairman, APL Apollo, comments on Q4FY25 results: "The company has reported its strongest quarterly and yearly performance achieving record-high sales volume, revenue, EBITDA, and net profit. This outstanding performance came despite of challenging macroeconomic environment, global trade uncertainty and slowdown in Indian government’s spending. For FY25, the company’s volume increased 21% YoY, which exceeded overall industry growth. We remain focused on innovation and delivering the best customer experience to further enhance our leadership position in the industry. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced 9MFY25 & Q3FY25 results

Q3FY25 Financial Highlights:

  • Sales volume of 828,200 Ton ( 37% YoY, 9% QoQ).
  • EBITDA of Rs 3.5 billion ( 24% YoY, 150% QoQ).
  • EBITDA/ Ton of Rs 4,173 (-10% YoY, 129% QoQ).
  • Net Profit of Rs 2.2 billion ( 31% YoY, 303% QoQ).

9MFY25 Financial Highlights:

  • Sales volume increased by 19% YoY to 2,307,531 Ton.
  • Revenue increased by 14% YoY to Rs 151.8 billion.
  • EBITDA declined by 14% YoY to Rs 7.9 billion.
    • EBITDA per ton at Rs 3,403/Ton.
  • Net Profit declined by 17% YoY to Rs 4.6 billion.

Sanjay Gupta, Chairman, APL Apollo, said: “The company has reported its best-ever quarter, achieving record-high quarterly sales volume, EBITDA, and PAT. This strong performance came despite a challenging macroeconomic environment, weak retail demand and ongoing slowdown in government infrastructure spending. For 9MFY25, the company’s volume increased 19% YoY, which is far ahead of overall industry growth. We remain focused on innovation and delivering the best customer experience to further enhance our leadership position in the industry. We continue to remain prudent with our working capital management, which remains best in the construction material sector”.

Result PDF

Iron & Steel Products company APL Apollo Tubes announced H1FY25 results

  • Sales volume increased by 11% YoY to 14,79,331 Ton.
  • Revenue increased by 6% YoY to Rs 97.5 billion.
  • EBITDA declined by 30% YoY to Rs 4.4 billion.
    • EBITDA per ton at Rs 2,972/Ton.
  • Net Profit declined by 38% YoY to Rs 2.5 billion.

Sanjay Gupta, Chairman, APL Apollo, said: “The company has announced its highest ever quarterly sales volume of 7,58,267 Ton in Q2FY25. This was despite weak demand conditions for the construction material sector due to the volatility in raw material prices, extended monsoon and ongoing slowdown in government infrastructure spending. However, our profitability was severely impacted by volatility in steel prices. In our view, the worst is behind us as the lower steel prices have given a massive opportunity to APL Apollo to take market share from low-grade sponge iron made steel pipes. We are ready with our 4.3 million ton annual capacity which shall expand to 5 million ton by end of FY26. Our focus remains on innovative products and providing the best customer experience to further enhance our leadership. We continue to remain prudent with our working capital management, which remains best in the construction material sector”

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q1FY25 results:

  • Sales volume increased by 9% YoY/ 6% QoQ to 7,21,064 Ton
  • Revenue increased by 9% YoY/ 4% QoQ to Rs 49.7 billion 
  • EBITDA increased by 8% QoQ (declined by 2% YoY) to Rs 3.0 billion 
  • EBITDA per ton at Rs 4,183/Ton
  • Net Profit increased by 13% QoQ (unchanged YoY) to Rs 1.9 billion 

Sanjay Gupta, Chairman, APL Apollo, comments on Q1FY25 results: “The company has announced its highest ever quarterly sales volume of 721KTon in Q1FY25 with EBITDA 8% QoQ and net profit 13% QoQ. This is given the fact that demand conditions for the structural steel industry were tough, impacted by the general elections and ongoing slowdown in retail spending.

In the near term, we expect demand conditions to improve on the back of improved government budget allocation for infrastructure and good monsoons. The company's commitment to delivering exceptional quality, coupled with its unwavering dedication to customer satisfaction, has propelled it to the forefront of the industry.

Our focus remains on innovative products and providing the best customer experience to further enhance our leadership. We are encouraged to see strong sales growth in our value added product portfolio such as the heavy structural steel tubes and coated products. The VAP contributed 60% to our overall sales volume in Q1FY25 vs 57% in Q1FY24.

Our greenfield Raipur plant is set to enter a new phase of accelerated production while maintaining the highest standards of efficiency and reliability. APL’s strategic expansion of its Dubai facility not only strengthens the company's global presence but also enhances its capacity to serve clients across international markets. Our focus on expanding our global footprint with export opportunities remains intact.

We continue to remain prudent with our working capital management, which remains best in the building material sector”

Result PDF

Iron & Steel Products company APL Apollo Tubes announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Sales volume was increased by 4% YoY/ 12% QoQ to 679k tons
  • Revenue was increased by 8% YoY/ 14% QoQ to Rs 47.7 billion
  • EBITDA was Rs 2.8 billion (unchanged QoQ/ 13% YoY decline)
    • EBITDA per ton was Rs 4,132 (decreased by 17% YoY/ 11% QoQ)
  • Net Profit was Rs 1.7 billion (up 3% QoQ/ decline by 16% YoY)

FY24 Financial Highlights:

  • Sales volume was increased by 15% YoY to 2.6 million Tons
  • Revenue was increased by 12% YoY to Rs 181.2 billion
  • EBITDA was increased by 17% YoY to Rs 11.9 billion
    • EBITDA per ton was Rs 4,553 ( 2% YoY)
  • Net Profit was increased by 14% YoY to Rs 7.3 billion

Sanjay Gupta, Chairman, APL Apollo, comments on Q4FY24 and FY24 results “The company has performed across financial metrics in FY24 with sales volume 15% YoY, EBITDA 17% YoY and net profit 14% YoY. The key milestone was to achieve a net cash balance sheet as on 31 March 2024. This is after the fact that the company invested Rs 23.7bn in last 4 years in its capacity expansion program.

The Q4FY24 performance was slightly weak as demand got impacted ahead of general elections and ongoing slowdown in retail spending. The company had to offer extra discounts to its clients to push up sales volume. However, we are encouraged to see strong sales growth in our value-added product portfolio such as the heavy structural steel tubes and coated products. The company's relentless dedication to quality and customer satisfaction has propelled it to the forefront of the industry.

After almost a year since its greenfield commissioning, the Raipur plant is set to enter a new phase of accelerated production while maintaining the highest standards of efficiency and reliability. APL’s strategic expansion of its Dubai facility not only strengthens the company's global presence but also enhances its capacity to serve clients across international markets. The initial results are encouraging with good response from global steel tube distributors for APL Apollo's products. We continue to remain prudent with our working capital management, which remains best in the building material sector.”

Result PDF

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