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Apollo Pipes Results: Latest Quarterly Results & Analysis

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Apollo Pipes Ltd. 07 May 2026 15:48 PM

Q4FY26 & FY26 Result Announced for Apollo Pipes Ltd.

Plastic Products company Apollo Pipes announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income: For Q4FY26, the consolidated total income stood at Rs 34,851.51 lakh, representing a QoQ increase of 40.67% from Rs 24,774.68 lakh in Q3FY26 and a YoY increase of 9.55% from Rs 31,813.79 lakh in Q4FY25. For the full year FY26, total income was Rs 1,11,533.26 lakh, compared to Rs 1,18,690.06 lakh in FY25, a decrease of 6.03%.
  • Revenue from Operations: Revenue for Q4FY26 was Rs 34,702.04 lakh, up 40.39% QoQ from Rs 24,718.04 lakh and up 10.24% YoY from Rs 31,477.83 lakh. The annual revenue for FY26 reached Rs 1,10,491.55 lakh, a decrease of 6.49% over Rs 1,18,163.54 lakh in FY25.
  • Net Profit: The company reported a consolidated net loss of Rs 12.80 lakh for Q4FY26, an improvement compared to a loss of Rs 475.71 lakh in Q3FY26, but a decline from a profit of Rs 987.06 lakh in Q4FY25. For the full year FY26, net profit stood at Rs 466.28 lakh, down 86.32% from Rs 3,408.66 lakh in FY25.
  • Earnings Per Share (EPS): Basic and diluted EPS for Q4FY26 was Rs (0.03). For the full year FY26, basic and diluted EPS was Rs 1.06, compared to Rs 7.74 in FY25.

Standalone Financial Highlights:

  • Total Income: Standalone total income for Q4FY26 was Rs 27,981.09 lakh, registering a QoQ increase of 43.21% from Rs 19,538.47 lakh and a YoY increase of 14.90% from Rs 24,352.67 lakh. The annual standalone total income for FY26 was Rs 89,442.51 lakh, down from Rs 93,047.98 lakh in FY25.
  • Revenue from Operations: Standalone revenue for Q4FY26 stood at Rs 27,852.33 lakh, reflecting a growth of 42.96% QoQ from Rs 19,482.29 lakh and 15.94% YoY from Rs 24,022.35 lakh. Annual revenue for FY26 was Rs 88,744.46 lakh, compared to Rs 92,568.77 lakh in FY25.
  • Net Profit: Standalone net profit for Q4FY26 was Rs 323.61 lakh, a turnaround from a loss of Rs 123.79 lakh in Q3FY26, but a decrease of 65.90% YoY from Rs 948.97 lakh. For the full year FY26, the company reported a net profit of Rs 1,218.52 lakh, down 60.46% from Rs 3,081.92 lakh in FY25.

Business Highlights:

  • Segment Performance: The Group operates in a single primary reportable segment, namely Manufacturing and Trading of Plastic Pipes, Fittings & Allied Products.
  • Dividend: The Board of Directors has recommended a final dividend of Rs 0.70/- (Seventy Paisa Only) per equity share of Rs 10/- each (7% on Face Value) for FY26.
  • Strategic Acquisition: During the year, the company acquired an additional 4.35% stake in its subsidiary, Kisan Mouldings Limited (KML), for a total sum of Rs 14.76 crore. Following this, the company's total holding in KML increased from 57.59% to 61.94%.
  • Warrant Allotment: The company allotted 20,00,000 warrants at an issue price of Rs 550/- per warrant, receiving Rs 27.50 crore as 25% application money.
  • Employee Benefit Schemes: The Board approved the introduction of the "Apollo Pipes Limited Stock Appreciation Rights Scheme– 2026" (SAR Scheme 2026) for eligible employees and directors of the company and its subsidiaries/associates, involving a pool of 25,00,000 SAR units.
  • Labour Code Impact: The company has recognized a provision of Rs 127.51 lakh towards incremental liability for past periods due to the notification of the four Labour Codes in November 2025.

Result PDF

Plastic Products company Apollo Pipes announced Q3FY26 results

  • Sales volume decreased 6% YoY to 25,386 Ton.
  • Revenue decreased 20% YoY to Rs 2.5 billion.
  • EBITDA decreased 48% YoY to Rs 120 million.
  • Reported Loss of Rs 33 million (vs Rs 62 million Profit in Q3FY25).

Sameer Gupta, Chairman & Managing Director, Apollo Pipes (APL), said: “The company has sailed through a very challenging quarter for the construction material industry, impacted by 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. On top of this, the downward trend in PVC resin prices impacted demand for the Home Plumbing and Bath Fittings industry.

However, these pressures are largely transient. With PVC prices showing signs of recovery and demand conditions improving, we are confident of delivering a significantly better performance in Q4FY26.

The company has a robust pipeline of new products, and we are on track to expand our annual capacity to 286,000 Ton in the next 2 years from the current 2,26,500 Ton. We remain committed to fund business expansion from internal cash flow generation without leveraging balance sheet.”

Result PDF

Plastic Products company Apollo Pipes announced Q2FY26 results

  • Sales volume increased 8% YoY to 21,685 Ton.
  • Revenue decreased 6% YoY to Rs 2.4 billion.
  • EBITDA decreased 19% YoY to Rs 158 million.
  • PAT decreased 65% YoY to Rs 14 million

Sameer Gupta, Chairman & Managing Director, Apollo Pipes (APL), said: “The company has sailed through a challenging quarter for the construction material industry, impacted by macroeconomic environment, geopolitical tension, global trade uncertainty and slowdown in government spending. Our Home Plumbing and Bath Fittings industry faced significant challenges due to weak PVC resin prices and weak retail demand. Extended monsoon has affected both of our businesses - home plumbing and agricultural piping.

Despite these near-term challenges, the company expects good demand in H2FY26 backed by pickup in construction activities and improved government spending on infrastructure projects.

The company has a robust pipeline of new products, and we are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,26,500 Ton. We remain committed to fund business expansion from internal cashflow generation without leveraging balance sheet.”

Result PDF

Plastic Products company Apollo Pipes announced Q1FY26 results

  • Sales volume decreased 3% QoQ to 25,315 Ton.
  • Revenue decreased 13% QoQ to Rs 2.8 billion.
  • EBITDA decreased 14% QoQ to Rs 207 million.
  • PAT decreased 17% QoQ to Rs 81 million.

Sameer Gupta, Chairman & Managing Director, Apollo Pipes (APL) said: “The company has sailed through a tough quarter for the construction material industry, impacted by macroeconomic environment, geopolitical tension, USA tariff uncertainty and slowdown in government spending. Our Home Plumbing and Bath Fittings industry faced significant challenges due to weak PVC resin prices and weak retail demand. The early onset of monsoon season has affected both of our businesses - home plumbing and agricultural piping.

Going forward the Company expects good demand backed by pickup in construction activities and improved government spending for infrastructure projects.

The company has a robust pipeline of new products, and we are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,25,500 Ton. We remain committed to fund business expansion from cashflow generation without leveraging balance sheet.”

Result PDF

Plastic Products company Apollo Pipes announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Sales volume increased 22% YoY to 25,991 Ton.
  • Revenue increased 23% YoY to Rs 3.1 billion.
  • EBITDA decreased 5% YoY to Rs 240 million.
  • PAT increased 45% YoY to Rs 98 million.

FY25 Financial Highlights:

  • Sales volume increased 23% YoY to 99,705 Ton.
  • Revenue increased 20% YoY to Rs 11.8 billion.
  • EBITDA unchanged YoY to Rs 957 million.
  • PAT declined 23% YoY to Rs 326 million.

Sameer Gupta, Chairman cum Managing Director, Apollo Pipes (APL) said: “The company has sailed through FY25 with 23% YoY volume growth amid a very tough environment for the construction material industry. Our Home Plumbing and Bath Fittings industry faced significant challenges due to reduced government infrastructure spending, extreme volatile PVC resin prices and weak retail demand.

The strategic acquisition of Kisan Mouldings Limited has boosted the company’s presence in Western markets. The company has a robust pipeline of innovative products, and we are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,25,500 Ton. We remain committed to fund business expansion from cashflow generation without leveraging balance sheet.”

Result PDF

Plastic Products company Apollo Pipes announced Q3FY25 results

Q3FY25 Financial Highlights:

  • Sales volume increased 43% YoY, 34% QoQ to 26,987 Ton.
  • Revenue increased 39% YoY, 23% QoQ to Rs 3.1 billion.
  • EBITDA increased 16% YoY, 20% QoQ to Rs 233 million.
  • PAT increased 49% QoQ (declined 32% YoY) to Rs 62 million.

Sameer Gupta, Chairman & Managing Director, Apollo Pipes (APL) said: “The company has sailed through in 9MFY25 with 23% YoY volume growth amid a very tough environment for the construction material industry. Our Bath Fittings industry faced significant challenges due to reduced government infrastructure spending, weak retail demand and winter rainfall in South India and some Eastern states.

The strategic acquisition of Kisan Mouldings Limited has boosted the company’s presence in Western markets. The company has a robust pipeline of innovative products, and we are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,16,000 Ton”

Result PDF

Plastic Products company Apollo Pipes announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Sales volume higher 2% YoY to 20,152 Ton.
  • Revenue unchanged YoY to Rs 2.5 billion.
  • EBITDA declined 20% YoY to Rs 194 million.
  • PAT declined 68% YoY to Rs 42 million.

H1FY25 Financial Highlights:

  • Sales volume increased 14% YoY to 46,727 Ton.
  • Revenue increased by 10% YoY to Rs 5.6 billion.
  • EBITDA declined 4% YoY to Rs 484 million.
  • PAT declined 38% YoY to Rs 167 million.

Sameer Gupta, Chairman & Managing Director, Apollo Pipes Limited (APL) said:  “The company has demonstrated business momentum on the back of strategic acquisition of Kisan Mouldings Limited, which has strengthened its market footprints in the Western India.

The plastic pipe industry faced significant challenges in H1FY25 due to fluctuations in PVC resin prices, reduced government infrastructure spending, and an extended monsoon season. This sharp price volatility led to de-stocking across the entire supply chain. However, we have started to see the demand traction specialy the agriculture sector from Oct’24 which will boost our volumes going forward.

The company has a robust pipeline of innovative products. We continue to make strong inroads across cPVC, PVC-O Pipe and other value product segments. We are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,16,000 Ton”

Result PDF

Plastic products company Apollo Pipes announced consolidated Q1FY25 results:

  • Sales Volume increased 25%/24% YoY/QoQ to 26,562 Ton
  • Revenue increased 19%/21% YoY/ QoQ to Rs 3.1 Bn
  • EBITDA increased 11%/14% YoY/QoQ to Rs 290 Mn
  • EBITDA margin declined 66bps/55bps YoY/QoQ to 9.4%
  • PAT declined 10% YoY to Rs 125 Mn due to high depreciation but increased 86% QoQ

Commenting on the Company’s performance for Q1FY25, Sameer Gupta, Chairman cum Managing Director, Apollo Pipes (APL) said, “The company has demonstrated strong business momentum on the back of strategic acquisition of Kisan Mouldings Limited, which has strengthened its market footprints in the Western India.

With an onset of monsoon, India is witnessing good rainfall from 2nd half of June’24 in most areas which augurs well for our industry. Good traction in demand is seen from agriculture, housing and infrastructure. We remain positive on our sales volume guidance with an improving sales mix for FY25.

The company has a robust pipeline of innovative products. We continue to make strong inroads across cPVC, PVC-O Pipe and other value product segments. We are on track to expand our annual capacity to 286,000 Ton in the next 2 years from current 2,16,000 Ton”

Result PDF

Plastic Products company Apollo Pipes announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Rs 245.8 crore Revenue: 2% YoY decline and 11% QoQ increase
  • 20,550 MT Sales Volume: 10% YoY increase and 9% QoQ increase
  • Rs 24.9 crore EBITDA: 15% YoY decline and 24% QoQ increase
  • 10.1% EBITDA Margin: 154bps YoY decline and 105bps QoQ increase
  • Rs 6.5 crore PAT: 57% YoY decline and 28% QoQ decline

FY24 Financial Highlights:

  • Rs 977.1 crore Revenue: 7% YoY increase
  • 80,440 MT Sales Volume: 21% YoY increase
  • Rs 95.3 crore EBITDA: 40% YoY increase
  • 9.8% EBITDA Margin: 232bps YoY increase
  • Rs 42.4 crore PAT: 77% YoY increase

Result PDF

Plastic Products company Apollo Pipes announced Q3FY24 results:

  • Sales volume higher by 5% to 18,868 tonnes from 18,011 tonnes in Q3FY23.
  • Revenue declined by 6% to Rs 2.2 billion compared to Rs 2.4 billion in Q3FY23.
  • EBITDA increased by 25% to Rs 201 million as compared to Rs 161 million in Q3FY23.
  • Net profit increased by 87% to Rs 91 million as compared to Rs 49 million in Q3FY23.

Commenting on the Company’s performance for Q3FY24, Sameer Gupta, Chairman cum Managing Director, Apollo Pipes said, “We have reported strong 9MFY24 sales volume with a growth of 25% YoY to 59,890 Ton and, on the back of resilient operational improvement and improved demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe, and value-added product segments. With our upcoming expansion plan to increase our capacity to 286k in the next 3-4 years from 136k currently, we remain confident that our product portfolio along with other value-added offerings like fittings, solvents, bath fittings, adhesives, taps, and faucets will enhance our reach and strengthen sales. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead”.

Result PDF

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