Apollo Pipes Ltd. (IN:APOLLOPIPE)
:APOLLOPIPE
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Apollo Pipes Ltd.
(APOLLOPIPE)
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Rating:54Neutral
Price Target:
₹559.00
▲(93.12% Upside)
Action:Downgraded
Date:05/10/26
The score is held back primarily by weakening profitability and very weak cash generation (deeply negative free cash flow), despite a low-leverage balance sheet. Technicals are a relative positive with the stock trading above major moving averages and positive momentum, while valuation is less supportive due to a negative P/E and minimal dividend yield.
Positive Factors
Conservative Balance Sheet
Low debt-to-equity (~0.15 in 2026) and conservative leverage give the company durable financial flexibility to fund capital projects, weather cyclical downturns, and pursue growth or M&A without immediate refinancing pressure. This supports long-term resilience and strategic optionality.
Negative Factors
Weak Cash Generation
Deeply negative free cash flow in 2026 (≈-1.25B) following similar weakness in 2025 indicates strained cash conversion from earnings. Persistent negative FCF limits reinvestment, dividends, or debt reduction without external funding and raises questions about working-capital or capex intensity being sustainably funded.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low debt-to-equity (~0.15 in 2026) and conservative leverage give the company durable financial flexibility to fund capital projects, weather cyclical downturns, and pursue growth or M&A without immediate refinancing pressure. This supports long-term resilience and strategic optionality.
Read all positive factors
Apollo Pipes Ltd. (APOLLOPIPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹24.12B
Dividend Yield0.23%
Average Volume (3M)9.95K
Price to Earnings (P/E)391.2
Beta (1Y)0.21
Revenue Growth-6.49%
EPS Growth-77.93%
CountryIN
Employees641
SectorBasic Materials
Sector Strength58
IndustryConstruction
Share Statistics
EPS (TTM)1.71
Shares Outstanding44,048,206
10 Day Avg. Volume7,371
30 Day Avg. Volume9,945
Financial Highlights & Ratios
PEG Ratio-4.56
Price to Book (P/B)3.58
Price to Sales (P/S)2.65
P/FCF Ratio-23.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7.79
Revenue Forecast (FY)₹13.65B
Apollo Pipes Ltd. Business Overview & Revenue Model
Company Description
Apollo Pipes Limited engages in the manufacturing and trading of polyvinyl chloride (PVC) pipes and fittings under the APL Apollo brand name in India and internationally. The company offers cPVC, uPVC, HDPE, and UPVC pipes and fittings; sprinkler ...
How the Company Makes Money
Apollo Pipes makes money primarily by manufacturing and selling plastic pipes and fittings. Its core revenue stream is product sales across major piping categories such as uPVC/CPVC piping systems (commonly used in plumbing and water distribution)...
Apollo Pipes Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
73
Positive
Cash Flow
32
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.05B | 11.82B | 9.82B | 9.15B | 7.81B |
| Gross Profit | 1.71B | 3.54B | 1.25B | 2.22B | 1.92B |
| EBITDA | 664.90M | 956.70M | 997.54M | 705.60M | 972.75M |
| Net Income | 74.86M | 326.48M | 428.23M | 239.10M | 497.60M |
Balance Sheet | |||||
| Total Assets | 12.86B | 12.29B | 10.11B | 6.62B | 5.44B |
| Cash, Cash Equivalents and Short-Term Investments | 838.79M | 1.32B | 545.69M | 340.20M | 419.77M |
| Total Debt | 1.24B | 918.27M | 820.25M | 437.20M | 387.18M |
| Total Liabilities | 3.93B | 4.37B | 4.37B | 2.05B | 1.39B |
| Stockholders Equity | 8.19B | 7.93B | 5.74B | 4.57B | 4.05B |
Cash Flow | |||||
| Free Cash Flow | -1.25B | -1.11B | 261.33M | -40.30M | -59.98M |
| Operating Cash Flow | 263.66M | 286.65M | 1.25B | 687.30M | 363.27M |
| Investing Cash Flow | -1.36B | -1.51B | -2.14B | -679.60M | -367.48M |
| Financing Cash Flow | 555.39M | 2.05B | -636.88M | -78.00M | -299.98M |
Apollo Pipes Ltd. Technical Analysis
Positive
289.45
Price Trends
447.71
Positive
375.55
Positive
360.87
Positive
Market Momentum
23.07
Negative
60.33
Neutral
73.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APOLLOPIPE, the sentiment is Positive. The current price of 289.45 is below the 20-day moving average (MA) of 479.99, below the 50-day MA of 447.71, and below the 200-day MA of 360.87, indicating a bullish trend. The MACD of 23.07 indicates Negative momentum. The RSI at 60.33 is Neutral, neither overbought nor oversold. The STOCH value of 73.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:APOLLOPIPE.
Apollo Pipes Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹28.09B | 23.46 | ― | 0.08% | 21.45% | 5.07% | |
67 Neutral | ₹11.30B | 11.81 | ― | 1.95% | 11.41% | 18.08% | |
66 Neutral | ₹10.32B | 25.01 | ― | 0.17% | 21.05% | -0.40% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ₹24.12B | 391.18 | ― | 0.23% | -6.49% | -77.93% | |
54 Neutral | ₹8.47B | 176.56 | ― | ― | 14.47% | -32.32% | |
52 Neutral | ₹22.60B | 34.86 | ― | 0.24% | 31.67% | 5.55% |
* Basic Materials Sector Average
IN:APOLLOPIPE
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Apollo Pipes Ltd. Corporate Events
Apollo Pipes Publishes Q4 FY26 Earnings Call Transcript for Investors
May 11, 2026
Apollo Pipes Limited notified stock exchanges that it has released the transcript of its Q4 FY26 earnings conference call held on May 8, 2026. The company stated that the transcript, featuring remarks from its top management and group strategy lea...
Apollo Pipes Publishes FY26 Audited Results in Newspapers
May 8, 2026
Apollo Pipes Ltd. has published its audited financial results for the quarter and full year ended March 31, 2026 in leading English and Hindi business newspapers, in line with securities listing regulations. The company has also enabled investors ...
Apollo Pipes starts commercial production at new Mirzapur plant
Apr 14, 2026
Apollo Pipes Ltd. has commenced commercial production at its new manufacturing plant in Mirzapur, near Varanasi in Uttar Pradesh, effective April 14, 2026. The facility marks an expansion of the company’s production footprint in northern Ind...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.