APLAPOLLO

APL Apollo Tubes Limited

India's largest structural steel tube and pipe maker, branded and engineered products

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

aplapollo.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹2152.70
Market cap
59,747 Cr
Stock P/E
48.6
P/B
11.29
Dividend yield
0.3%
ROE (FY26)
22.7%
ROCE (FY26)
29.3%
Operating margin (FY26)
6.8%
Debt / equity (FY26)
0.09
OCF / EBITDA (FY26)
116.7%
OCF / EBITDA (3Y)
105.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

APL Apollo (APL Apollo Tubes) makes structural steel tubes and pipes in India, selling its branded products through a network of about 800 distributors, with tubes ranging from 8x8 mm to 1000x1000 mm.

Company snapshot

2ndBy market cap

Ranked among 64 companies in Iron & Steel Products.

What we see

Positives
  • ✓106% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales4,630 Cr4,178 Cr4,766 Cr4,974 Cr4,774 Cr5,433 Cr5,509 Cr5,170 Cr5,206 Cr5,815 Cr6,269 Cr5,607 Cr
Operating expenses (approx.)4,305 Cr3,898 Cr4,485 Cr4,673 Cr4,636 Cr5,087 Cr5,095 Cr4,798 Cr4,759 Cr5,343 Cr5,758 Cr5,195 Cr
EBITDA325 Cr280 Cr280 Cr302 Cr138 Cr346 Cr414 Cr372 Cr447 Cr472 Cr511 Cr411 Cr
OPM %7.0%6.7%5.9%6.1%2.9%6.4%7.5%7.2%8.6%8.1%8.2%7.3%
Other income20 Cr15 Cr19 Cr25 Cr15 Cr22 Cr35 Cr26 Cr25 Cr25 Cr36 Cr40 Cr
Interest27 Cr29 Cr31 Cr28 Cr36 Cr37 Cr32 Cr33 Cr28 Cr33 Cr32 Cr39 Cr
Depreciation41 Cr47 Cr47 Cr47 Cr47 Cr50 Cr58 Cr54 Cr58 Cr59 Cr59 Cr59 Cr
Profit before tax277 Cr219 Cr221 Cr252 Cr70 Cr280 Cr359 Cr310 Cr386 Cr404 Cr457 Cr352 Cr
Tax %26.7%24.4%23.0%23.4%22.7%22.5%18.3%23.5%22.0%23.3%22.4%25.3%
Net profit203 Cr166 Cr170 Cr193 Cr54 Cr217 Cr293 Cr237 Cr302 Cr310 Cr354 Cr263 Cr
EPS (₹)₹7.32₹5.97₹6.14₹6.96₹1.94₹7.82₹10.56₹8.55₹10.86₹11.17₹12.76₹9.48

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,378 Cr5,472 Cr7,152 Cr7,723 Cr8,500 Cr13,063 Cr16,166 Cr18,119 Cr20,690 Cr23,079 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,045 Cr5,096 Cr6,759 Cr7,246 Cr7,821 Cr12,118 Cr15,144 Cr16,927 Cr19,491 Cr21,277 CrSign in free for the trailing twelve months
EBITDA333 Cr376 Cr393 Cr477 Cr679 Cr945 Cr1,022 Cr1,192 Cr1,199 Cr1,802 CrSign in free for the trailing twelve months
OPM %7.6%6.9%5.5%6.2%8.0%7.2%6.3%6.6%5.8%7.8%Sign in free for the trailing twelve months
Other income6 Cr8 Cr12 Cr22 Cr36 Cr41 Cr47 Cr75 Cr96 Cr112 CrSign in free for the trailing twelve months
Interest72 Cr86 Cr113 Cr107 Cr66 Cr44 Cr67 Cr113 Cr133 Cr125 CrSign in free for the trailing twelve months
Depreciation51 Cr53 Cr64 Cr96 Cr103 Cr109 Cr138 Cr176 Cr201 Cr231 CrSign in free for the trailing twelve months
Profit before tax216 Cr244 Cr227 Cr296 Cr546 Cr832 Cr863 Cr978 Cr960 Cr1,557 CrSign in free for the trailing twelve months
Tax %29.6%34.5%34.7%13.6%25.3%25.6%25.7%25.1%21.2%22.7%Sign in free for the trailing twelve months
Net profit152 Cr160 Cr148 Cr256 Cr408 Cr619 Cr642 Cr732 Cr757 Cr1,203 CrSign in free for the trailing twelve months
EPS (₹)₹64.65₹67.89₹62.47₹97.17₹28.91₹22.30₹23.15₹26.40₹27.28₹43.34Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%13.6%18.9%20.2%13.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital24 Cr24 Cr24 Cr25 Cr25 Cr50 Cr55 Cr56 Cr56 Cr56 Cr
Reserves680 Cr814 Cr940 Cr1,331 Cr1,670 Cr2,214 Cr2,950 Cr3,549 Cr4,153 Cr5,241 Cr
Borrowings569 Cr673 Cr710 Cr727 Cr441 Cr581 Cr873 Cr1,125 Cr615 Cr452 Cr
Other liabilities572 Cr670 Cr1,100 Cr1,087 Cr1,125 Cr1,408 Cr1,973 Cr2,458 Cr2,773 Cr3,084 Cr
Total liabilities1,845 Cr2,181 Cr2,774 Cr3,266 Cr3,399 Cr4,452 Cr5,852 Cr7,187 Cr7,596 Cr8,833 Cr
Fixed assets (net)631 Cr849 Cr1,008 Cr1,471 Cr1,501 Cr1,604 Cr2,349 Cr3,031 Cr3,370 Cr3,740 Cr
CWIP122 Cr46 Cr27 Cr10 Cr108 Cr504 Cr374 Cr203 Cr336 Cr328 Cr
Investments0.44 Cr1 Cr49 Cr2 Cr1 Cr91 Cr233 Cr103 Cr126 Cr49 Cr
Loans & advances——1 Cr1 Cr1 Cr1 Cr1 Cr4 Cr4 Cr4 Cr
Inventories470 Cr591 Cr784 Cr784 Cr760 Cr847 Cr1,480 Cr1,638 Cr1,623 Cr1,445 Cr
Trade receivables295 Cr432 Cr543 Cr476 Cr131 Cr342 Cr0 Cr139 Cr267 Cr351 Cr
Cash & bank1 Cr7 Cr47 Cr44 Cr16 Cr164 Cr123 Cr345 Cr369 Cr644 Cr
Other assets325 Cr255 Cr314 Cr477 Cr880 Cr899 Cr1,291 Cr1,725 Cr1,501 Cr2,273 Cr
Total assets1,845 Cr2,181 Cr2,774 Cr3,266 Cr3,399 Cr4,452 Cr5,852 Cr7,187 Cr7,596 Cr8,833 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity315 Cr91 Cr358 Cr510 Cr977 Cr652 Cr690 Cr1,112 Cr1,213 Cr2,103 Cr
Cash from investing-170 Cr-165 Cr-264 Cr-435 Cr-647 Cr-530 Cr-876 Cr-916 Cr-375 Cr-1,394 Cr
Cash from financing-145 Cr79 Cr-53 Cr-78 Cr-359 Cr26 Cr145 Cr27 Cr-815 Cr-438 Cr
Net cash flow0.22 Cr5 Cr41 Cr-3 Cr-28 Cr148 Cr-41 Cr222 Cr24 Cr275 Cr
Free cash flow (OCF − Capex)138 Cr-81 Cr121 Cr200 Cr690 Cr55 Cr-172 Cr417 Cr491 Cr1,407 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.6%21.9%20.3%18.5%26.9%28.8%24.0%23.1%22.7%29.3%
ROE %21.6%19.1%15.4%16.4%19.6%22.6%21.4%20.3%18.0%22.7%
Debtor days252928236100356
Inventory days54474543392838393630
Days payable45304042403541474949
Cash conversion cycle3346332442-3-5-9-13
OCF / EBITDA %94.7%24.3%91.0%106.7%144.0%68.9%67.6%93.2%101.2%116.7%
OCF / EBITDA % (3 years)——69.4%76.9%119.1%101.8%87.7%77.7%88.3%105.6%
Debt / equity0.810.800.740.540.260.260.290.310.150.09
Current ratio0.971.011.011.181.191.281.161.341.211.34
Net debt / EBITDA1.70—1.691.430.630.440.730.650.21-0.11