APL Apollo Tubes Ltd

APL Apollo Tubes Ltd

₹ 1,647 4.23%
21 Jun - close price
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
As of FY24, The company's product portfolio comprises:
Apollo structural (68% of revenues),
Apollo Z (28%),
Apollo Galv (4%)[1]

  • Market Cap 45,697 Cr.
  • Current Price 1,647
  • High / Low 1,806 / 1,298
  • Stock P/E 62.4
  • Book Value 130
  • Dividend Yield 0.30 %
  • ROCE 25.3 %
  • ROE 22.2 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 37.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.9%
  • Company's median sales growth is 23.7% of last 10 years

Cons

  • Stock is trading at 12.7 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,587 2,534 3,084 3,230 4,215 3,439 3,969 4,327 4,431 4,545 4,630 4,178 4,766
2,381 2,280 2,862 3,028 3,949 3,245 3,737 4,054 4,108 4,238 4,305 3,898 4,485
Operating Profit 206 255 222 202 266 194 232 273 323 307 325 280 280
OPM % 8% 10% 7% 6% 6% 6% 6% 6% 7% 7% 7% 7% 6%
13 10 11 8 11 8 12 9 18 22 20 15 19
Interest 14 13 11 11 10 10 14 19 25 27 27 28 31
Depreciation 28 27 27 27 28 29 28 35 47 41 41 47 47
Profit before tax 177 226 196 172 239 163 202 229 269 261 277 219 221
Tax % 24% 25% 25% 26% 26% 26% 26% 26% 25% 26% 27% 24% 23%
134 168 146 128 177 121 150 169 202 194 203 166 170
EPS in Rs 4.77 5.90 5.85 5.11 6.51 4.82 6.00 6.10 7.28 6.98 7.32 5.96 6.14
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,008 2,497 3,090 4,154 3,924 5,335 7,152 7,723 8,500 13,063 16,166 18,119
1,849 2,332 2,908 3,872 3,590 4,964 6,759 7,246 7,821 12,118 15,143 16,927
Operating Profit 160 165 182 282 334 371 393 478 679 946 1,022 1,192
OPM % 8% 7% 6% 7% 9% 7% 5% 6% 8% 7% 6% 7%
1 2 4 -15 5 8 12 22 36 40 46 75
Interest 43 61 66 70 72 81 113 107 66 44 67 113
Depreciation 13 16 22 34 51 53 64 96 103 109 138 176
Profit before tax 105 89 98 163 216 244 227 296 546 832 863 978
Tax % 35% 34% 35% 38% 30% 35% 35% 14% 25% 26% 26% 25%
69 59 64 101 152 158 148 256 408 619 642 732
EPS in Rs 3.08 2.52 2.72 4.29 6.45 6.66 6.22 9.58 14.42 24.73 23.14 26.39
Dividend Payout % 16% 20% 22% 23% 19% 21% 23% 0% 0% 14% 22% 21%
Compounded Sales Growth
10 Years: 22%
5 Years: 20%
3 Years: 29%
TTM: 12%
Compounded Profit Growth
10 Years: 29%
5 Years: 38%
3 Years: 27%
TTM: 14%
Stock Price CAGR
10 Years: 50%
5 Years: 61%
3 Years: 28%
1 Year: 23%
Return on Equity
10 Years: 23%
5 Years: 24%
3 Years: 25%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 22 23 23 23 24 24 24 25 25 50 55 56
Reserves 341 402 472 544 680 814 940 1,331 1,670 2,414 2,950 3,549
445 505 482 651 594 775 858 834 520 581 873 1,144
189 220 345 442 547 568 952 1,075 1,184 1,407 1,973 2,438
Total Liabilities 997 1,150 1,323 1,660 1,845 2,181 2,774 3,266 3,399 4,452 5,852 7,187
323 420 614 666 670 886 1,034 1,708 1,736 1,837 2,580 3,281
CWIP 15 28 24 32 122 46 27 10 108 504 374 203
Investments 1 18 19 13 0 1 49 2 1 91 96 103
658 685 666 949 1,052 1,248 1,663 1,546 1,554 2,020 2,801 3,600
Total Assets 997 1,150 1,323 1,660 1,845 2,181 2,774 3,266 3,399 4,452 5,852 7,187

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
26 133 315 11 315 91 358 510 977 652 690 1,112
-105 -128 -191 -93 -170 -165 -264 -435 -647 -530 -876 -916
88 -9 -124 81 -145 79 -53 -78 -359 26 145 27
Net Cash Flow 9 -4 -0 -0 0 5 41 -3 -28 148 -41 222

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 36 21 19 27 30 28 23 6 10 3 3
Inventory Days 62 48 44 61 53 47 45 44 39 28 39 38
Days Payable 21 20 28 26 44 30 40 42 40 34 42 46
Cash Conversion Cycle 81 64 36 54 36 47 33 24 4 3 0 -5
Working Capital Days 75 62 32 43 41 41 27 24 9 7 11 17
ROCE % 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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Documents

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