APL Apollo Tubes Ltd - Stock Valuation and Financial Performance

BSE: 533758 | NSE: APLAPOLLO | Steel & Iron Products | Mid Cap

APL Apollo Tubes Share Price

1,491.15 17.15 1.16%
as on 28-Mar'24 15:31

DeciZen - make an informed investing decision on APL Apollo Tubes

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

APL Apollo Tubes stock performance -

mw4me loader
P/E Ratio (CD):
53.56
Market Cap:
40,907.1 Cr.
52-wk low:
1,046.6
52-wk high:
1,806.2

Is APL Apollo Tubes Ltd an attractive stock to invest in?

1. Is APL Apollo Tubes Ltd a good quality company?

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

2. Is APL Apollo Tubes Ltd undervalued or overvalued?

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.

3. Is APL Apollo Tubes Ltd a good buy now?

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

10 Year X-Ray of APL Apollo Tubes:

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

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 11.7%11.4%15.7%16.1%15.8%13.3%15%17.5%23.7%19.7%-
Value Creation
Index
-0.2-0.20.10.20.1-0.10.10.31.10.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,4973,1384,2143,9245,3357,1527,7238,50013,06316,16617,231
Sales YoY Gr.-25.7%34.3%-6.9%36%34.1%8%10.1%53.7%23.8%-
Adj EPS 2.52.75.36.47.36.39.414.424.322.927.5
YoY Gr.-6%97%22.4%13.4%-14%49.5%53%69.4%-5.9%-
BVPS (₹) 17.620.624.229.635.140.154.267.798.2108.3124.2
Adj Net
Profit
59.262.5123152173150234359609635764
Cash Flow from Ops. 13331511.331591.4358510977652690-
Debt/CF from Ops. 3.81.557.61.98.52.41.60.50.91.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 23.1%24.8%27.9%23.8%
Adj EPS 27.8%25.7%34.6%-5.9%
BVPS22.3%25.3%26%10.3%
Share Price 54.6% 59.4% 30.7% 24.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
14.913.623.223.922.516.620.123.529.323.223.7
Op. Profit
Mgn %
6.65.86.98.57.35.56.287.26.37.2
Net Profit
Mgn %
2.422.93.93.22.13.34.84.73.94.4
Debt to
Equity
1.211.20.90.90.90.60.30.20.3-
Working Cap
Days
8570669284797865495627
Cash Conv.
Cycle
5134303331302391-15

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 27.92%

Net Profit is growing at healthy rate in last 3 years 34.62%

Sales growth is good in last 4 quarters at 12.56%

Return on Equity has declined versus last 3 years average to 23.70%

Latest Financials - APL Apollo Tubes Ltd.

Standalone Consolidated
TTM EPS (₹) 19.8 27.5
TTM Sales (₹ Cr.) 13,806 17,231
BVPS (₹.) 101.9 124.2
Reserves (₹ Cr.) 2,773 3,390
P/BV 14.46 11.87
PE 74.62 53.56
From the Market
52 Week Low / High (₹) 1046.55 / 1806.20
All Time Low / High (₹) 2.25 / 1806.20
Market Cap (₹ Cr.) 40,907
Equity (₹ Cr.) 55.5
Face Value (₹) 2
Industry PE 24.8

Management X-Ray of APL Apollo Tubes:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of APL Apollo Tubes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,4973,1384,2143,9245,3357,1527,7238,50013,06316,166
Operating Expenses 2,3322,9573,9323,5914,9646,7647,2467,82112,11815,144
Manufacturing Costs637199112115136186193258346
Material Costs2,2112,6833,5513,2324,5486,3086,5767,16511,22314,018
Employee Cost 2941637586108142130153206
Other Costs 29161219172214212342333483574
Operating Profit 1651822823333713894776799451,022
Operating Profit Margin (%) 6.6%5.8%6.7%8.5%7.0%5.4%6.2%8.0%7.2%6.3%
Other Income 2510681622364147
Interest 6166707281113107664467
Depreciation 16223451536496103109138
Exceptional Items 00-250000000
Profit Before Tax 8998163216244227296546832863
Tax 30346264867940138213221
Profit After Tax 5964101152158148256408619642
PAT Margin (%) 2.4%2.0%2.4%3.9%3.0%2.1%3.3%4.8%4.7%4.0%
Adjusted EPS (₹)2.52.74.36.46.76.29.614.424.723.1
Dividend Payout Ratio (%)20%22%23%19%21%23%0%0%14%22%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 4254955686998329561,3471,6912,4573,004
Share Capital 23232324242425255055
Reserves 4024725446758089331,3221,6662,4072,948
Minority Interest0000009513800
Debt477433599569673710727441513712
Long Term Debt13714118810578175404183347408
Short Term Debt340293411464595536323258166304
Trade Payables1242052543923796997647861,0591,597
Others Liabilities 1232313123254286014416368671,218
Total Liabilities 1,1501,3641,7331,9852,3132,9663,3753,6934,8976,531

Fixed Assets

Gross Block4746907727039731,1911,9582,0762,2773,146
Accumulated Depreciation54761064599157250341440566
Net Fixed Assets4206146666588751,0341,7081,7361,8372,580
CWIP 282432122462710108504374
Investments 1819130149219196
Inventories2883205944705917847847608471,480
Trade Receivables249175220295432543476131342137
Cash Equivalents 10191274846358376352
Others Assets1371932054383604813496008991,510
Total Assets 1,1501,3641,7331,9852,3132,9663,3753,6934,8976,531

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1333151131591358510977652690
PBT 8998163216244227296546832863
Adjustment 7887125129141169193139134190
Changes in Working Capital -9137-23333-23429102412-115-147
Tax Paid -25-7-43-63-60-67-82-119-199-216
Cash Flow From Investing Activity -128-191-93-170-165-264-435-647-530-876
Capex -107-181-111-171-168-226-296-280-587-842
Net Investments -16-2-200-39-143-34142-39
Others -5-8201214-27156
Cash Flow From Financing Activity -9-12481-14579-53-78-35926145
Net Proceeds from Shares 1200111061771573
Net Proceeds from Borrowing 53347-1095045132-246152155
Interest Paid -61-66-70-73-77-101-119-62-41-60
Dividend Paid -13-12-14-23-28-33-3400-88
Others 0-501174912531-235-65-93135
Net Cash Flow -40-10541-3-28148-41
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)15.2914.2119.1424.0320.6716.5822.2326.8429.8523.51
ROCE (%)17.3817.4221.2922.922.3819.8120.1227.7833.3426.88
Asset Turnover Ratio2.62.773.012.362.582.762.522.473.112.94
PAT to CFO Conversion(x)2.254.920.112.070.582.421.992.391.051.07
Working Capital Days
Receivable Days312216212424231365
Inventory Days38323644353436322225
Payable Days18222436313141393035

APL Apollo Tubes Ltd Stock News

APL Apollo Tubes Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of APL Apollo Tubes on 28-Mar-2024 15:31 is ₹1,491.2.
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 28-Mar-2024 15:31 the market cap of APL Apollo Tubes stood at ₹40,907.1.
The latest P/E ratio of APL Apollo Tubes as of 28-Mar-2024 15:31 is 74.62.
The latest P/B ratio of APL Apollo Tubes as of 28-Mar-2024 15:31 is 14.46.
The 52-week high of APL Apollo Tubes is ₹1,806.2 and the 52-week low is ₹1,046.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of APL Apollo Tubes is ₹13,806 ( Cr.) .

About APL Apollo Tubes Ltd

APL Apollo Tubes, earlier known as Bihar Tubes was incorporated in 1986, founded by late Sudesh Kumar Gupta, and since then has carved an unparalleled position in the global market by making relentless endeavour to cater to its clients with premium quality pipes & tubes. Under the chairmanship of its founder member, Late. Sh. Sudesh Kumar Gupta, its  excellence in engineering, a genuine team spirit, clear objectives, ethical business practices and well-defined goals have infused an accelerated pace of growth in the market expansion of the company.

With a capacity to produce multi Million Tonnes per annum, APL Apollo Tubes Limited is the largest producer of Structural Steel Tubes in India. The company has an extended distribution network of warehouses and branch offices in various cities across the country catering to domestic as well as many countries worldwide.

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.

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.

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
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