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APL Apollo Tubes Ltd (APLAPOLLO)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533758 NSE: APLAPOLLO Steel & Iron Products | Mid Cap | APL Apollo Tubes Share Price

₹2,249.45 98.45 (4.58%)

As on 04-Sep'26 15:02

APL Apollo Tubes Ltd (APLAPOLLO)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533758 NSE: APLAPOLLO Steel & Iron Products | Mid Cap | APL Apollo Tubes Share Price

₹2,249.45 98.45 (4.58%)

As on 04-Sep'26 15:02

Key Metrics
Valuation Multiples
Market Cap
₹59,724 Cr.
Current Price
₹2,249.5
52-Week Low / High
₹1,640 / 2,301
TTM EPS
₹44.3
TTM Sales
₹22,200 Cr.
Book Value per Share
₹200.2
P/E Ratio
48.59
Lower than its 5-year historical median
Industry PE
25
Price to Book (P/B)
10.74
In line with its 5-year historical median
Price to Sales (P/S)
2.69
Higher than its 5-year historical median
EV/EBITDA
30.14
Lower than its 5-year historical median
Dividend Yield
0.38%
Profitability Efficiency
Return on Equity (ROE)
25.35%
Outperforms industry median
Return on Capital Employed (ROCE)
31.83%
Outperforms industry median
Return on Assets (ROA)
13.82%
Operating Profit Margin
7.9%
Net Profit Margin
5.21%
Gross Profit Margin
7.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
11.55%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
50.28%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
58.91%
Asset Quality
Promoter Holding
28.25%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹5,504 Cr.
Equity
₹55.5 Cr.
Face Value
₹2
All Time Low / High
₹2.25 / 2300.90

APL Apollo Tubes stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is APL Apollo Tubes Ltd a good quality company?
APL Apollo Tubes Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does APL Apollo Tubes Ltd performance compare with that of its Peers?
Q.1 Revenue growth of APL Apollo Tubes Ltd vs industry peers?
APL Apollo Tubes Ltd revenue CAGR is 22.11%, compared to the industry median CAGR of 22.11%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of APL Apollo Tubes Ltd?
Promoters hold 28.25% of the APL Apollo Tubes Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of APL Apollo Tubes Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 36.7% based on the current price.

DeciZen - make an informed investing decision on APL Apollo Tubes

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
APL Apollo Tubes Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 22.9%22.4%19.8%20.1%27.8%33.3%26.9%25.4%22.9%31.8%-
Value Creation
Index
0.60.60.40.41.12.01.41.31.01.8-

Growth Parameters

Sales 3,9245,3357,1527,7238,50013,06316,16618,11920,69023,07922,200
Sales YoY Gr.-36%34.1%8%10.1%53.7%23.8%12.1%14.2%11.6%-
Adj EPS 6.47.36.39.414.424.322.92626.643.244.3
YoY Gr.-13.4%-14%49.5%53%69.4%-5.9%13.6%2.3%62.4%-
BVPS (₹) 29.635.140.154.267.798.2108.3129.9151.1190.7200.2
Adj Net
Profit
1521731502343596096357227391,2011,229
Cash Flow from Ops. 31591.43585109776526911,1121,2192,103-
Debt/CF from Ops. 1.98.52.41.60.50.91.310.50.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 21.8%22.1%12.6%11.6%
Adj EPS 23.6%24.7%23.6%62.4%
BVPS23%23%20.8%26.2%
Share Price 37.3% 21.5% 9% 34.6%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
23.922.516.620.123.529.323.221.918.925.322.6
Op. Profit
Mgn %
8.57.35.56.287.26.36.65.87.98.3
Net Profit
Mgn %
3.93.22.13.34.84.73.943.65.25.5
Debt to
Equity
0.90.90.90.60.30.20.30.30.20.1-
Working Cap
Days
9284797865495669615532
Cash Conv.
Cycle
3331302391-1-5-9-127

Valuation of APL Apollo Tubes - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3,9245,3357,1527,7238,50013,06316,16618,11920,69023,079
Operating Expenses + 3,5914,9646,7647,2467,82112,11815,14416,92719,49121,277
Manufacturing Costs112115136186193258337405507511
Material Costs3,2324,5486,3086,5767,16511,22314,02715,61717,87019,509
Employee Cost 7586108142130153206258333371
Other Costs 172214212342333483574647781887
Operating Profit 3333713894776799451,0221,1921,1991,802
Operating Profit Margin (%) 8.5%7.0%5.4%6.2%8.0%7.2%6.3%6.6%5.8%7.8%
Other Income + 6816223641477596112
Exceptional Items 0000000000
Interest 7281113107664467113133125
Depreciation 51536496103109138176201231
Profit Before Tax 2162442272965468328639789601,557
Tax 64867940138213221245203354
Profit After Tax 1521581482564086196427327571,203
PAT Margin (%) 3.9%3.0%2.1%3.3%4.8%4.7%4.0%4.0%3.7%5.2%
Adjusted EPS (₹)6.46.76.29.614.424.723.126.427.343.3
Dividend Payout Ratio (%)18.70%20.90%22.50%0%0%14.20%21.60%20.80%21.10%19.60%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 6998329561,3471,6912,4573,0043,6054,1945,297
Share Capital 24242425255055565656
Reserves 6758089331,3221,6662,4072,9483,5494,1395,241
Debt +569673710727441513712929431283
Long Term Debt10578175404183347408787409261
Short Term Debt4645955363232581663041422222
Minority Interest0009513800000
Trade Payables3923796997647861,0591,5971,9822,2312,368
Others Liabilities 3254286014416368671,2181,3791,2791,331
Total Liabilities 1,9852,3132,9663,3753,6934,8976,5317,8948,1369,279

Fixed Assets

Net Fixed Assets +6588751,0341,7081,7361,8372,5803,2813,6684,060
Gross Block7039731,1911,9582,0762,2773,1443,9844,5595,131
Accumulated Depreciation45991572503414405647038911,070
CWIP 122462710108504374203336328
Investments 014921919610312649
Inventories4705917847847608471,4801,6381,6231,445
Trade Receivables295432543476131342137139267351
Cash Equivalents 274846358376352348575886
Others Assets 4383604813496008991,5102,1831,5412,160
Total Assets 1,9852,3132,9663,3753,6934,8976,5317,8948,1369,279
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 315913585109776526911,1121,2192,103
PBT 2162442272965468328639789601,557
Adjustment 129141169193139134192228273299
Changes in Working Capital 33-23429102412-115-147124173545
Tax Paid -63-60-67-82-119-199-216-218-188-298
Cash Flow From Investing Activity + -170-165-264-435-647-530-876-916-381-1,392
Capex -171-168-226-296-280-587-842-662-660-650
Net Investments 00-39-143-34142-39-293211-793
Others 1214-27156396851
Cash Flow From Financing Activity + -14579-53-78-3592614327-815-440
Net Proceeds from Shares 111061771573300
Net Proceeds from Borrowing -1095045132-246152155385-393-149
Interest Paid -73-77-101-119-62-41-61-94-147-116
Dividend Paid -23-28-33-3400-88-139-153-160
Others 4912531-235-65-93135-129-122-16
Net Cash Flow 0541-3-28148-4122224271
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)24.0320.6716.5822.2326.8429.8523.5122.1719.4125.35
ROCE (%)22.922.3819.8120.1227.7833.3426.8825.3522.931.83
Asset Turnover Ratio2.362.582.762.522.473.112.942.612.762.81
PAT to CFO Conversion(x)2.070.582.421.992.391.051.081.521.611.75
Working Capital Days
Receivable Days21.5023.9024.4023.3012.706.505.202.703.404.60
Inventory Days44.4034.9034.4035.9032.2021.9025.3030.3026.9022.90
Payable Days36.503131.2040.6039.503034.6041.804343

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APL Apollo Tubes Ltd FAQs

The current trading price of APL Apollo Tubes on 04-Sep-2026 15:02 is ₹2,249.5.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Sep-2026 the market cap of APL Apollo Tubes stood at ₹59,724.3 Cr

The latest P/E ratio of APL Apollo Tubes as of 03-Sep-2026 is 103.3.

The latest P/B ratio of APL Apollo Tubes as of 03-Sep-2026 is 16.46.

The 52-week high of APL Apollo Tubes is ₹2,300.9 and the 52-week low is ₹1,640.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of APL Apollo Tubes is ₹14,635 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that APL Apollo Tubes Ltd is a good quality company.

The key valuation ratios of APL Apollo Tubes Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of APL Apollo Tubes Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About APL Apollo Tubes Ltd

APL Apollo Tubes is one of the country’s largest producer of Structural Steel Tubes. Headquartered in the Delhi NCR, the company exemplifies excellence through its state-of-the-art manufacturing facilities, which produce high-quality products and an expansive multi-tier distribution network that reaches various consumer markets.

Owing to its steadfast commitment to operating as a responsible enterprise, APL Apollo has consistently improved its rating on the Dow Jones Sustainability Index (DJSI) over several consecutive years. This dedication to environmental stewardship, combined with its unwavering pursuit of excellence, guarantees that APL Apollo continues to serve as a model of progress. It is transforming the steel industry, enhancing infrastructural frameworks and protecting the planet for a more resilient and sustainable future.

Business area of the company

The company is engaged in the business of production of Electric Resistance Welded (ERW) steel tubes. The company’s multi-product offerings include huge varieties of Pre- Galvanized Tubes, Structural Steel Tubes, Galvanized Tubes, MS Black Pipes and Hollow Sections, which make APL Apollo one of leading branded steel products manufacturers in India. 

Products of the company

  • Apollo Structural: APL Apollo Tubes manufactures high-tensile strength Structural tubes which are used widely in various construction applications. It is also used in various industries including automotive, machinery, furniture etc. These sections come in various shapes and sizes and finishes. The most common among them include Rectangular Hollow Sections (RHS) and Square Hollow Sections (SHS).
  • Apollo Exclusive: Apollo Exclusive unveils a future-proof range of superior steel products designed for modern dwelling. From termite-proof door frames to eco-friendly handrails, Apollo empowers customer with smarter, stronger choices.
  • Apollo Standard: Apollo Standard is a range of black round tubes used in plumbing systems of buildings to carry water/steam through the HVAC, fire-fighters and structural steel construction material. Each of the brands under Apollo Standard are made for structural, fire system, and Agricultural/plumbing specific usage.
  • Apollo Galv: Apollo Galv is a range of Galvanized Iron (GI) products suitable for industrial and agricultural usage. Crack-resistant and sturdy, it is made of round, square, rectangular GI tubes and ERW steel tubes that are used for structural applications in highly humid regions. Galv works well for the Greenhouse structure and agricultural system for pumping water and irrigation.
  • Apollo Roofing: India’s Roofing Specialists with path-breaking roofing solution that gives structures the unmatched strength and class-apart style that they deserve.
  • Apollo Forma: APL Apollo Forma is an exclusive range of innovative steel tubes designed for superior performance and ease of fabrication. Offered in unique shapes like oval, octagon, and elliptical, these eco-friendly and future-proof products are more aesthetic and cost-effective for modern applications such as fencing, gym equipment and light poles.
  • Apollo Innovatione: At Apollo Innovatione, it builds construction by bringing together design, engineering, manufacturing and execution within a single, seamless framework. Backed by APL Apollo’s steel expertise and innovation-led thinking, it enables faster construction, smarter steel structures and higher efficiency at every stage.

Awards and recognitions

  • 2016: APL APOLLO has won the “Fastest Growing Manufacturing Company” award at the IPF Industrial Excellence Awards.
  • 2017: APL Apollo Tubes Ltd received “India’s Best Company of The Year” award received from International Brand Consulting Corporation, USA.
  • 2018: APL Apollo Tubes being facilitated by CREDAI.
  • 2019: Times Power Icons 2019 for North region certificate of recognition received by Sanjay Gupta (The Chairman, APL Apollo Tubes Ltd) for exemplary contribution in the field of excellence in the field of steel pipes and section.
  • 2019: APL Apollo Tubes Ltd received Emerging Brand award for the Year 2019 from ABP news Brands Excellence Awards.
  • 2022: Sanjay Gupta of APL Apollo bag the Times Business Awards 2022.
  • 2024: APL Apollo Tubes has been awarded the prestigious 'Brand of the Decade Award 2024' in the Structural Steel category.
  • 2026: APL Apollo has been certified as a Great Place To Work.

History and Milestones

1986

  • Year of Incorporation
  • Setting-up of the first manufacturing plant in Sikandrabad, Ghaziabad

1994-95

  • Commissioned a new Galvanizing plant
  • Received ISI Certification
  • Listed on the Stock Exchanges (BSE & NSE)

2000-02

  • Commissioned a new tube mill and modern Gallium mill
  • Received ISO 9001:2000 certification

2003-04

  • Developed in-house Hollow Sections across a wide range of sizes
  • First in India to launch Pre-Galvanized pipes

2007-08

  • Acquired Apollo Metalex Private Limited
  • Awarded with Star Export House Status
  • Acquired Shri Lakshmi Metal Udyog Limited in Bengaluru

2009-10

  • Commissioned a plant in Hosur, Tamil Nadu
  • A Greenfield venture with state-of-the-art mills
  • Started multiple warehouses across India

2011-12

  • Name changed to APL Apollo Tubes Limited from Bihar Tubes
  • Received UL, CE, SGF France Certifications and other approvals
  • Acquired Lloyds Line Pipes Limited plant near Mumbai

2013-14

  • Procured CRFH Coils from JSW Steel to expand the product range
  • Launched Door sections, Window sections, and Railing tubes

2015

  • First in India to achieve a capacity of 1 MTPA in steel pipes

2016-17

  • Established India’s first-ever Direct Forming Technology Line in Hosur
  • Commissioned Greenfield facility at Raipur & Chhattisgarh with Direct Forming Technology
  • Awarded patents for six product designs

2018-19

  • Apollo Tricoat and entered into home improvement solution offerings with focused consumer products like door frames, designer tubes, electrical conduits, ceiling products

2019-20

  • 40% market share in structural steel tubing industry
2020

  • APL Apollo Tubes unveil new range of pipes.
  • APL Apollo Tubes launches fencing solutions.
2021

  • APL Apollo unveils India’s first closed steel door and window frames “Apollo Chaukhat”.
  • APL Apollo receives Design Patents for 6 Innovative Products.
2022

  • APL Apollo Tubes launches innovative colour coated coils and sheets first time in India.
  • APL Apollo launches next-gen Steel Building Solutions for structural steel tubes.
  • APL Apollo Tubes displayed two latest construction technologies at India Warehousing Exhibition.
2024

  • APL Apollo launches new TVC with Akshay Kumar for Roof Tuff.
2025

  • APL Apollo Tubes achieves 89th Percentile in S&P CSA 2024.
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