APL Apollo Tubes Ltd

APL Apollo Tubes Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

APL Apollo Tubes Ltd

₹ 1,556 1.57%
19 Apr - close price
aplapollo.com BSE: 533758 NSE : APLAPOLLO
About

APL Apollo Tubes Limited (APL Apollo) is one of India’s leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company runs 10 manufacturing facilities churning out over 1,500 varieties of MS Black Pipes, Galvanised Tubes, Pre-Galvanised Tubes, Structural ERW Steel Tubes and Hollow Sections to serve industry applications like urban infrastructures, housing, irrigation, solar plants, greenhouses and engineering. [1]

Key Points

Product Portfolio
The company's product portfolio comprises:
** Apollo structural (69% of revenues), Apollo Z (27%), & Apollo Galv (4%). The products find their use in buildings, houses, warehouses, factories, skyscrapers & industrial & agricultural activities. The company is gradually De-commoditizing its Product Portfolio**.[1]
The company innovated[2] to be the world’s only company to make steel tubes with size range of 10x10mm to 1000x1000mm and thickness range of 0.23 mm to 40mm.[3] As of FY23, company has 16 registered patents in its name.[4]

Website BSE NSE
  • Market Cap ₹ 43,173 Cr.
  • Current Price ₹ 1,556
  • High / Low ₹ 1,806 / 1,047
  • Stock P/E 56.5
  • Book Value ₹ 118
  • Dividend Yield 0.32 %
  • ROCE 26.9 %
  • ROE 23.5 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 32.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%
  • Company's median sales growth is 23.8% of last 10 years

Cons

  • Stock is trading at 13.2 times its book value
  • Promoter holding has decreased over last 3 years: -7.56%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
2,601 2,587 2,534 3,084 3,230 4,215 3,439 3,969 4,327 4,431 4,545 4,630 4,178
2,369 2,381 2,280 2,862 3,028 3,949 3,245 3,737 4,054 4,108 4,238 4,305 3,898
Operating Profit 232 206 255 222 202 266 194 232 273 323 307 325 280
OPM % 9% 8% 10% 7% 6% 6% 6% 6% 6% 7% 7% 7% 7%
8 13 10 11 8 11 8 12 9 18 22 20 15
Interest 15 14 13 11 11 10 10 14 19 25 27 27 28
Depreciation 26 28 27 27 27 28 29 28 35 47 41 41 47
Profit before tax 200 177 226 196 172 239 163 202 229 269 261 277 219
Tax % 25% 24% 25% 25% 26% 26% 26% 26% 26% 25% 26% 27% 24%
149 134 168 146 128 177 121 150 169 202 194 203 166
EPS in Rs 5.29 4.77 5.90 5.85 5.11 6.51 4.82 6.00 6.10 7.28 6.98 7.32 5.96
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,392 2,008 2,497 3,090 4,154 3,924 5,335 7,152 7,723 8,500 13,063 16,166 17,784
1,277 1,849 2,332 2,908 3,872 3,590 4,964 6,759 7,246 7,821 12,118 15,143 16,549
Operating Profit 115 160 165 182 282 334 371 393 478 679 946 1,022 1,235
OPM % 8% 8% 7% 6% 7% 9% 7% 5% 6% 8% 7% 6% 7%
0 1 2 4 -15 5 8 12 22 36 40 46 74
Interest 34 43 61 66 70 72 81 113 107 66 44 67 107
Depreciation 9 13 16 22 34 51 53 64 96 103 109 138 176
Profit before tax 72 105 89 98 163 216 244 227 296 546 832 863 1,026
Tax % 32% 35% 34% 35% 38% 30% 35% 35% 14% 25% 26% 26%
49 69 59 64 101 152 158 148 256 408 619 642 764
EPS in Rs 2.30 3.08 2.52 2.72 4.29 6.45 6.66 6.22 9.58 14.42 24.73 23.14 27.54
Dividend Payout % 9% 16% 20% 22% 23% 19% 21% 23% 0% 0% 14% 22%
Compounded Sales Growth
10 Years: 23%
5 Years: 25%
3 Years: 28%
TTM: 12%
Compounded Profit Growth
10 Years: 25%
5 Years: 32%
3 Years: 39%
TTM: 27%
Stock Price CAGR
10 Years: 54%
5 Years: 58%
3 Years: 35%
1 Year: 26%
Return on Equity
10 Years: 23%
5 Years: 24%
3 Years: 26%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 21 22 23 23 23 24 24 24 25 25 50 55 55
Reserves 270 341 402 472 544 680 814 940 1,331 1,670 2,414 2,950 3,225
311 445 505 482 651 594 775 858 834 520 581 873 1,176
104 189 220 345 442 547 568 952 1,075 1,184 1,407 1,973 1,843
Total Liabilities 706 997 1,150 1,323 1,660 1,845 2,181 2,774 3,266 3,399 4,452 5,852 6,300
223 323 420 614 666 670 886 1,034 1,708 1,736 1,837 2,580 2,864
CWIP 46 15 28 24 32 122 46 27 10 108 504 374 360
Investments 0 1 18 19 13 0 1 49 2 1 91 96 54
437 658 685 666 949 1,052 1,248 1,663 1,546 1,554 2,020 2,801 3,021
Total Assets 706 997 1,150 1,323 1,660 1,845 2,181 2,774 3,266 3,399 4,452 5,852 6,300

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
37 26 133 315 11 315 91 358 510 977 652 690
-91 -105 -128 -191 -93 -170 -165 -264 -435 -647 -530 -876
37 88 -9 -124 81 -145 79 -53 -78 -359 26 145
Net Cash Flow -17 9 -4 -0 -0 0 5 41 -3 -28 148 -41

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 45 40 36 21 19 27 30 28 23 6 10 3
Inventory Days 48 62 48 44 61 53 47 45 44 39 28 39
Days Payable 11 21 20 28 26 44 30 40 42 40 34 42
Cash Conversion Cycle 82 81 64 36 54 36 47 33 24 4 3 0
Working Capital Days 80 75 62 32 43 41 41 27 24 9 7 11
ROCE % 20% 21% 17% 17% 24% 23% 22% 20% 20% 26% 32% 27%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
36.88% 36.84% 34.54% 34.52% 34.52% 34.52% 31.16% 31.16% 30.61% 29.67% 29.56% 29.44%
25.69% 25.24% 24.59% 23.29% 24.64% 24.69% 24.31% 25.71% 25.07% 28.66% 29.25% 30.69%
9.39% 8.42% 10.72% 11.12% 11.18% 10.91% 10.42% 11.08% 12.73% 12.69% 13.75% 14.06%
28.04% 29.50% 30.14% 31.07% 29.66% 29.88% 34.14% 32.05% 31.59% 28.99% 27.41% 25.81%
No. of Shareholders 65,6951,24,0861,48,7351,56,0551,54,8181,50,4401,77,0761,81,4661,82,7541,91,7182,05,8452,03,720

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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