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Swing Capital

APL Apollo Tubes Ltd

NSE: APLAPOLLO BSE: 533758Metal

APL Apollo Tubes Limited (APL Apollo) is one of India’s leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company runs 10 manufacturing facilities churning out over 1,500 varieties of MS Black Pipes, Galvanised Tubes, Pre-Galvanised Tubes, Structural ERW Steel Tubes and Hollow Sections to serve industry applications like urban infrastructures, housing, irrigation, solar plants, greenhouses and engineering. [1]

₹1,882
52W: ₹1492 — ₹2301
PE 95.5 · Book ₹125 · +1406% vs book
Market Cap₹52,254 Cr
Stock P/E95.5Price to Earnings
ROCE21.5%Return on Capital
ROE16.7%Return on Equity
Div. Yield0.3%Face Value ₹2

Strengths

  • +Company has been maintaining a healthy dividend payout of 41.4%

Weaknesses

  • −Stock is trading at 14.8 times its book value

Shareholding Pattern

Promoters28.25%
FIIs37.52%
DIIs16.05%
Public18.18%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters28.33%28.32%▼0.028.31%▼0.028.31%28.31%28.3%▼0.028.27%▼0.028.25%▼0.0
FIIs31.55%31.94%▲0.431.72%▼0.231.78%▲0.133.05%▲1.333.72%▲0.733.12%▼0.637.52%▲4.4
DIIs14.9%15.89%▲1.016.51%▲0.616.74%▲0.216.83%▲0.118.92%▲2.119.91%▲1.016.05%▼3.9
Public25.23%23.84%▼1.423.45%▼0.423.17%▼0.321.81%▼1.419.07%▼2.718.69%▼0.418.18%▼0.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales3,1463,3393,5013,3213,7813,7573,3733,1864,0104,216
Expenses2,9773,2443,3583,2723,6353,5553,1793,0043,8023,913
Operating Profit1699614350146202194183208303
OPM %5%3%4%2%4%5%6%6%5%7%
Net Profit1035792686151116106120205
EPS ₹3.712.073.330.213.115.444.183.834.317.39

AI Insights

Revenue Trend

Mar 2026 revenue at ₹15,110Cr, up 5.2% YoY. OPM at 6%.

Debt Position

Borrowings at ₹640Cr. Debt-to-equity ratio: 0.19x. Healthy balance sheet.

Capex Cycle

CWIP at ₹79Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 16.05% (+3.32pp change). FIIs: 37.52% (+12.45pp change). Promoters hold 28.25%.

Margin & Efficiency

ROCE improving from 13% (Mar 2015) to 22% (Mar 2026). Working capital days: -2.

Valuation

PE 95.5x with 21.5% ROCE. Price is 1406% above book value of ₹125. Dividend yield: 0.3%.

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