Key Metrics 
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10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
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About
Apollo Pipes Ltd (APOLLOPIPE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531761 NSE: APOLLOPIPE Plastic Products | Small Cap | Apollo Pipes Share Price
₹506.75 17.30 (3.53%)
As on 27-Jul'26 15:50
Apollo Pipes Ltd (APOLLOPIPE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531761 NSE: APOLLOPIPE Plastic Products | Small Cap | Apollo Pipes Share Price
₹506.75 17.30 (3.53%)
As on 27-Jul'26 15:50
Key Metrics
Valuation Multiples
Market Cap
₹2,156 Cr.
Current Price
₹506.8
52-Week Low / High
₹253 / 553
TTM EPS
₹2.8
TTM Sales
₹887 Cr.
Book Value per Share
₹185.1
P/E Ratio
176.93
Higher than its 5-year historical median
Industry PE
39.7
Price to Book (P/B)
2.64
Lower than its 5-year historical median
Price to Sales (P/S)
2.43
In line with its 5-year historical median
EV/EBITDA
28.38
Higher than its 5-year historical median
Dividend Yield
0.14%
Profitability Efficiency
Return on Equity (ROE)
1.51%
Underperforms industry median
Return on Capital Employed (ROCE)
2.77%
Underperforms industry median
Return on Assets (ROA)
1.12%
Operating Profit Margin
8.4%
Net Profit Margin
1.37%
Gross Profit Margin
3.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-4.13%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-19.71%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-60.45%
Asset Quality
Promoter Holding
51.72%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹771 Cr.
Equity
₹44.1 Cr.
Face Value
₹10
All Time Low / High
₹0.44 / 798.85
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Apollo Pipes Ltd a good quality company?
Apollo Pipes Ltd is a average quality company, based on a somewhat consistent 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 Apollo Pipes Ltd performance compare with that of its Peers?
Revenue growth of Apollo Pipes Ltd vs industry peers?
Apollo Pipes Ltd revenue CAGR is 11.37%, compared to the industry median CAGR of 4.71%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Apollo Pipes Ltd?
Promoters hold 51.72% of the Apollo Pipes Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Apollo Pipes Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.2% based on the current price.
DeciZen - make an informed investing decision on Apollo Pipes
Decision Maker
Standalone 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Apollo Pipes Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 45.5% | 14.8% | 11.5% | 11.9% | 16.1% | 16.7% | 8.9% | 12.4% | 7% | 2.8% | - |
| Value Creation Index ⓘ | 2.3 | 0.1 | -0.2 | -0.2 | 0.2 | 0.2 | -0.4 | -0.1 | -0.5 | -0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 241 | 284 | 362 | 408 | 518 | 784 | 915 | 977 | 926 | 887 | 887 |
| Sales YoY Gr. | - | 18% | 27.2% | 12.8% | 27% | 51.4% | 16.6% | 6.9% | -5.3% | -4.1% | - |
| Adj EPS ⓘ | 4.5 | 5.8 | 7.1 | 7.5 | 10.9 | 12.6 | 6.1 | 10.4 | 6.5 | 2.7 | 2.8 |
| YoY Gr. | - | 28.6% | 22.8% | 6% | 45.7% | 15.1% | -51.2% | 69.8% | -37.3% | -58.4% | - |
| BVPS (₹) ⓘ | 27.6 | 34.2 | 53.7 | 72.8 | 89.3 | 102.6 | 115.8 | 129.3 | 182.3 | 185.1 | 185.1 |
| Adj Net Profit ⓘ | 14.8 | 19 | 25.4 | 29.4 | 42.9 | 49.4 | 24.1 | 40.9 | 28.7 | 11.9 | 12 |
| Cash Flow from Ops. ⓘ | 23.9 | 15.4 | 25.8 | 12.4 | 20.9 | 36.3 | 68.7 | 123 | 70.1 | 38 | - |
| Debt/CF from Ops. ⓘ | 0.8 | 15.4 | 4.4 | 7.2 | 3 | 1.1 | 0.6 | 0.5 | 0.9 | 2.4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.6% | 11.4% | -1% | -4.1% | ||||
| Adj EPS ⓘ | -5.4% | -24.3% | -23.8% | -58.4% | ||||
| BVPSⓘ | 23.5% | 15.7% | 16.9% | 1.5% | ||||
| Share Price | 23.1% | 5.5% | -11.1% | 20.4% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 29.3 | 18.6 | 14.8 | 11 | 13 | 13.1 | 5.6 | 7.9 | 4.2 | 1.5 | 1.5 |
| Op. Profit Mgn % ⓘ | 12.7 | 11.6 | 11 | 11.8 | 14.4 | 11.9 | 7.6 | 9.8 | 9.4 | 8.4 | 7.7 |
| Net Profit Mgn % ⓘ | 6.1 | 6.7 | 7 | 7.2 | 8.3 | 6.3 | 2.6 | 4.2 | 3.1 | 1.4 | 1.4 |
| Debt to Equity ⓘ | 0.2 | 2.1 | 0.6 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 51 | 115 | 118 | 135 | 97 | 78 | 67 | 59 | 57 | 59 | 66 |
| Cash Conv. Cycle ⓘ | 22 | 47 | 45 | 53 | 25 | 31 | 18 | -1 | -9 | -10 | 28 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 241 | 284 | 362 | 408 | 518 | 784 | 915 | 977 | 926 | 887 |
| Operating Expenses ⓘ + | 210 | 251 | 323 | 361 | 444 | 691 | 846 | 881 | 839 | 818 |
| Operating Profit ⓘ | 31 | 33 | 39 | 47 | 74 | 93 | 69 | 96 | 86 | 69 |
| Operating Profit Margin (%) | 12.7% | 11.6% | 10.9% | 11.4% | 14.4% | 11.9% | 7.5% | 9.8% | 9.3% | 7.8% |
| Other Income ⓘ + | 2 | 8 | 12 | 10 | 8 | 4 | 2 | 4 | 5 | 7 |
| Interest ⓘ | 4 | 3 | 6 | 6 | 5 | 4 | 9 | 6 | 10 | 8 |
| Depreciation ⓘ | 5 | 7 | 10 | 13 | 18 | 26 | 28 | 30 | 39 | 51 |
| Profit Before Tax ⓘ | 24 | 31 | 34 | 38 | 61 | 67 | 33 | 64 | 42 | 17 |
| Tax ⓘ | 8 | 9 | 10 | 9 | 16 | 17 | 9 | 22 | 11 | 5 |
| Profit After Tax | 16 | 22 | 24 | 29 | 44 | 50 | 24 | 42 | 31 | 12 |
| PAT Margin (%) | 6.5% | 7.8% | 6.6% | 7.0% | 8.6% | 6.4% | 2.6% | 4.3% | 3.3% | 1.4% |
| Adjusted EPS (₹) | 4.7 | 6.7 | 6.7 | 7.3 | 11.3 | 12.7 | 6.1 | 10.8 | 7.0 | 2.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 5% | 0% | 0% | 7.90% | 9.90% | 9.30% | 10% | 25.30% |
Valuation of Apollo Pipes - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 91 | 113 | 193 | 286 | 351 | 404 | 455 | 509 | 803 | 815 | |
| Debt + | 18 | 155 | 97 | 78 | 52 | 29 | 43 | 61 | 40 | 86 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 19 | 39 | 36 | 68 | 48 | 55 | 112 | 117 | 126 | 128 | |
| Others Liabilities ⓘ | 18 | 102 | 74 | 59 | 56 | 69 | 52 | 136 | 80 | 103 | |
| Total Liabilities ⓘ | 146 | 409 | 400 | 491 | 507 | 557 | 662 | 824 | 1,049 | 1,132 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 70 | 79 | 117 | 154 | 221 | 236 | 281 | 345 | 398 | 421 | |
| CWIP ⓘ | 0 | 15 | 12 | 30 | 8 | 7 | 6 | 8 | 37 | 90 | |
| Investments ⓘ | 0 | 1 | 0 | 0 | 0 | 4 | 40 | 170 | 206 | 223 | |
| Inventories | 23 | 44 | 52 | 82 | 78 | 132 | 171 | 160 | 158 | 172 | |
| Trade Receivables | 34 | 39 | 36 | 59 | 63 | 71 | 66 | 52 | 47 | 70 | |
| Cash Equivalents | 1 | 205 | 147 | 128 | 72 | 42 | 35 | 20 | 129 | 82 | |
| Others Assets ⓘ | 18 | 28 | 35 | 37 | 65 | 65 | 64 | 67 | 74 | 75 | |
| Total Assets ⓘ | 146 | 409 | 400 | 491 | 507 | 557 | 662 | 824 | 1,049 | 1,132 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 24 | 15 | 26 | 12 | 21 | 36 | 69 | 123 | 70 | 38 |
| Cash Flow From Investing Activity ⓘ + | -9 | -27 | -44 | -52 | -56 | -37 | -68 | -214 | -141 | -134 |
| Cash Flow From Financing Activity ⓘ + | -15 | 215 | -39 | 20 | -21 | -30 | -8 | 76 | 180 | 49 |
| Net Cash Flow ⓘ | -0 | 203 | -57 | -19 | -56 | -30 | -7 | -14 | 109 | -47 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 31.13 | 21.56 | 15.62 | 11.9 | 13.95 | 13.19 | 5.57 | 8.8 | 4.7 | 1.51 |
| ROCE (%) | 45.45 | 14.78 | 11.54 | 11.93 | 16.08 | 16.68 | 8.93 | 12.36 | 7 | 2.77 |
| Asset Turnover Ratio | 3.45 | 1.06 | 0.89 | 0.92 | 1.45 | 2.07 | 2.54 | 2.41 | 1.9 | 1.68 |
| PAT to CFO Conversion(x) | 1.5 | 0.68 | 1.08 | 0.41 | 0.48 | 0.72 | 2.88 | 2.93 | 2.26 | 3.17 |
| Working Capital Days | ||||||||||
| Receivable Days | 46.40 | 45.30 | 37.50 | 42.60 | 30.80 | 22.10 | 16.10 | 12 | 10.20 | 11.70 |
| Inventory Days | 30.80 | 41.70 | 48.70 | 60.30 | 40.60 | 34.80 | 35.70 | 33.70 | 32.70 | 32.80 |
| Payable Days | 19.70 | 52.20 | 52.30 | 65.80 | 58.60 | 32.80 | 43.90 | 59.10 | 67.10 | 73.80 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Apollo Pipes Ltd FAQs
The current trading price of Apollo Pipes on 27-Jul-2026 15:50 is ₹506.8.
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 26-Jul-2026 the market cap of Apollo Pipes stood at ₹2,155.9 Cr
The latest P/E ratio of Apollo Pipes as of 26-Jul-2026 is 176.9.
The latest P/B ratio of Apollo Pipes as of 26-Jul-2026 is 2.64.
The 52-week high of Apollo Pipes is ₹553.1 and the 52-week low is ₹252.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Apollo Pipes is ₹887 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Apollo Pipes Ltd is a average quality company.
The key valuation ratios of Apollo Pipes Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Apollo Pipes Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Apollo Pipes Ltd
Apollo Pipes Limited (formerly known as Amulya Leasing and Finance Limited) incorporated on December 9, 1985 is engaged in the manufacturing and trading of PVC Pipes and Fittings. The company is headquartered in Delhi and among the market leader in piping and related products segment under brand name of APL Apollo. The company cherishes a strong reputation for the high quality products and strong distribution network.
With many decades of experience in the Indian Pipe Market, the company witnessed the strong fundamentals for growth in the pipe industry in India. APL has witnessed higher growth to best quality management practices and supplemented with increase in sales due to best quality management duly supplemented with serving the customers with utmost sincerity. Outstanding competence, extraordinary team spirit and visionary management are the key contributors to its success.
The company started manufacturing U-PVC Pipes in the year 2000, with a capacity of 3600 MT per annum. Since then, the company has undergone massive manufacturing and distribution expansion and a wide range of other high-end related products.
APL has plants located at Dadri and Sikanderabad in Uttar Pradesh. It has the largest manufacturing unit at a single location under one roof in North India. The plants are equipped with the state-of-the-art infrastructure and testing equipment’s with 100% power backup. The plants use flexible manufacturing techniques, greener technologies and modern machinery. The workers perform under highest safety and regulatory standards to produce world class products.
Business area of the company
The company is one of the major piping solutions providing company with strong brand value Domestically & Internationally. Today, it has a PAN India footprint with strong customer hold in Northern India. The company manufactures CPVC, PVC, and HDPE pipes & fittings of the highest quality. It also has the most versatile Products range right from 15mm to 400mm diameter. Continuous working to feed market with best piping solution led to fastest expansion of fittings in APL and now commands market PVC fittings manufacturer in North India.
The company’s products are applicable for variety of applications in high importance sectors such as: APL is participating irrigating millions of hectares of cultivable land of India through PVC pipes, Casing pipes, Column Pipes and Sprinkler piping solutions. The company’s products meet the requirements for infrastructure sectors like Transport of Oil and Gas transmission. To meet demand from this sector APL provides solution through HDPE pipes and fittings, PLB Ducts, PVC pipes.
Products
Plumbing Pipes & Fittings
- CPVC Pipes & Fittings
- uPVC Pipes & Fittings (Threaded & Non-Threaded)
- SWR Pipes & Fittings
- UDG Pipe
Irrigation Pipes & Fittings
- HDPE Pipes Manufacturers
- Sprinkler System Manufacturers
Agricultural Pipes & Fittings
- uPVC Pressure Pipes & Fittings
- uPVC Column Pipes
- Agriculture Pipes & Fittings
Solvent Cement
- Solvent Cement
Faucets/Showers/Allied
- Faucets
- Showers
- Allied
Milestones
2000:
- Commenced PVC pipe manufacturing operations
- Established 3,000 MTPA plant in Sikanderabad, UP
2005-2010:
- Started manufacturing HDPE pipes
- Set up new plant at Dadri, UP, with installed capacity of 21000 MTPA
- Became the first to start manufacturing of patented uPVC column pipes in North India
2013-15:
- Started manufacturing uPVC Plumbing Fittings with 180 MTPA capacity
- Commenced manufacturing cPVC Pipes and Fittings using Remone, France resin
- Started manufacturing uPVC agri and SWR Fittings
2016:
- First in North India to install 900 kg/hr PVC extrusion line
- Expanded capacity by 10,000 MTPA; taking the total available capacity to 50, 000 MTPA
2017:
- Installed capacity of moulding division enhanced to 2,700 MTPA
- Emerged as the largest plastic piping solution company
2018:
- Purchased a land with a building in Noida to develop the Apollo Pipes corporate office
- Introduced a brand-new product range of premium plastic faucets, taps, showers and accessories
2019:
- Concluded promoter infusion of H202 crore through issuance of equity shares and fully convertible warrants on preferential basis
- Concluded the strategic acquisition of Kisan Mouldings Limited, a manufacturing unit in Bengaluru
- Listed Company’s shares on NSE
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