Apollo Pipes Ltd

Apollo Pipes Ltd

₹ 718 -2.32%
28 Feb - close price
About

Apollo Pipes is engaged in manufacturing and trading of cPVC, uPVC, and HDPE pipes, PVC taps, fittings, water storage tank and solvent etc. It is among the top 10 leading piping solution providing Company in India. The products cater to an array of industrial applications such as Agriculture, Water Management, Construction,Infrastructure,and Telecom ducting segments.

Key Points

Product Portfolio
Company has a diversified portfolio of 1,600+ products including uPVC & CPVC Plumbing Systems, uPVC Pressure Pipes and Fittings, HDPE Pipes & Coils, HDPE Sprinkler Systems for agriculture, Underground Drainage & casing Pipes for sewerage, Water Tanks, Solvent Cement, Bath Fittings like showers, Faucets and Kitchen Sink. The company is focusing on Agriculture, water management, and construction segments along with Oil & gas segment and telecom ducting.[1][2]
In FY23, company introduced PPR-C plumbing product range in the market. The company also launched ‘Plastic Faucets, Taps and Showers’ in the domestic market – to drive higher brand visibility through New Products.[3]

  • Market Cap 2,825 Cr.
  • Current Price 718
  • High / Low 799 / 488
  • Stock P/E 55.4
  • Book Value 142
  • Dividend Yield 0.08 %
  • ROCE 8.91 %
  • ROE 5.53 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 34.4 to 26.2 days.
  • Company's median sales growth is 16.6% of last 10 years

Cons

  • Stock is trading at 5.07 times its book value
  • Company has a low return on equity of 10.5% over last 3 years.
  • Dividend payout has been low at 5.92% of profits over last 3 years

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
128.06 174.20 137.61 208.17 190.85 247.45 218.89 207.02 236.68 251.94 260.33 249.45 221.56
102.57 147.15 120.18 182.21 169.22 219.07 198.85 204.53 220.60 222.52 234.16 225.31 201.43
Operating Profit 25.49 27.05 17.43 25.96 21.63 28.38 20.04 2.49 16.08 29.42 26.17 24.14 20.13
OPM % 19.90% 15.53% 12.67% 12.47% 11.33% 11.47% 9.16% 1.20% 6.79% 11.68% 10.05% 9.68% 9.09%
1.86 2.48 1.43 0.12 1.17 1.07 0.82 0.40 0.02 0.72 1.18 1.31 1.09
Interest 0.64 0.90 1.06 0.72 0.76 1.75 2.17 2.18 2.07 2.44 1.52 0.69 1.39
Depreciation 4.41 5.81 5.72 6.18 6.65 7.15 6.39 7.03 7.42 7.56 6.65 7.24 7.50
Profit before tax 22.30 22.82 12.08 19.18 15.39 20.55 12.30 -6.32 6.61 20.14 19.18 17.52 12.33
Tax % 26.73% 27.08% 27.57% 26.75% 26.19% 24.09% 28.21% 24.05% 26.48% 25.42% 27.37% 26.20% 26.36%
16.33 16.64 8.75 14.05 11.36 15.60 8.83 -4.80 4.86 15.03 13.92 12.92 9.08
EPS in Rs 4.16 4.23 2.23 3.58 2.89 3.97 2.25 -1.22 1.24 3.82 3.54 3.29 2.31
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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 1 1 1 0 241 284 362 408 518 784 915 983
0 0 0 0 0 210 251 323 361 444 690 846 883
Operating Profit 1 1 1 1 -0 31 33 39 47 74 94 69 100
OPM % 80% 78% 77% 86% 13% 12% 11% 11% 14% 12% 8% 10%
0 0 0 0 0 2 8 10 10 8 3 2 4
Interest 0 0 0 0 0 4 3 6 6 5 4 9 6
Depreciation 0 0 0 0 0 5 7 10 13 18 26 28 29
Profit before tax 1 1 1 0 -0 24 31 34 38 61 67 33 69
Tax % 35% 32% 34% 29% -22% 35% 29% 29% 24% 27% 26% 27%
0 0 0 0 -0 16 22 24 29 44 50 24 51
EPS in Rs 0.23 0.24 0.24 0.14 -0.07 10.46 6.66 6.65 7.26 11.32 12.65 6.08 12.96
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 5% 0% 0% 8% 10%
Compounded Sales Growth
10 Years: 106%
5 Years: 26%
3 Years: 31%
TTM: 8%
Compounded Profit Growth
10 Years: 52%
5 Years: 2%
3 Years: -6%
TTM: 108%
Stock Price CAGR
10 Years: 58%
5 Years: 43%
3 Years: 45%
1 Year: 47%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 10%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 5 5 5 5 5 11 11 12 13 13 39 39 39
Reserves 4 4 4 5 4 80 102 181 273 338 366 418 518
0 0 0 0 0 20 238 112 90 63 39 44 2
0 0 0 0 0 30 49 85 106 80 100 161 161
Total Liabilities 9 9 10 10 10 142 401 391 482 494 544 662 721
0 0 0 0 0 70 79 117 154 221 236 281 282
CWIP 0 0 0 0 0 0 15 12 30 8 7 6 7
Investments 0 0 0 10 10 0 1 0 0 0 4 40 52
9 9 10 0 0 72 307 262 297 265 296 336 381
Total Assets 9 9 10 10 10 142 401 391 482 494 544 662 721

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0 0 0 10 -0 24 15 26 12 21 36 69
0 0 0 -10 0 -9 -27 -44 -52 -56 -37 -68
0 0 0 0 0 -15 215 -39 20 -21 -30 -8
Net Cash Flow -0 0 0 -0 0 -0 203 -57 -19 -56 -30 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 0 0 0 0 52 49 36 53 44 33 26
Inventory Days 47 80 73 104 79 84 90
Days Payable 39 70 50 86 49 35 62
Cash Conversion Cycle 0 0 0 0 60 59 59 71 74 82 54
Working Capital Days -84 -59 -85 -62 57 -39 43 63 74 68 56
ROCE % 6% 6% 6% 7% -1% 45% 15% 13% 13% 16% 17% 9%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
52.03% 52.03% 52.03% 52.03% 52.03% 52.03% 52.03% 52.03% 52.03% 50.80% 50.80% 50.80%
3.19% 2.70% 1.91% 1.21% 1.04% 1.01% 2.21% 2.38% 2.71% 2.56% 2.67% 3.23%
8.07% 8.23% 9.54% 10.85% 11.32% 11.92% 11.76% 12.17% 12.65% 13.09% 14.87% 14.70%
35.94% 36.27% 35.75% 35.14% 34.97% 34.41% 33.35% 32.78% 32.07% 33.01% 31.11% 30.74%
0.76% 0.76% 0.76% 0.76% 0.63% 0.63% 0.63% 0.63% 0.53% 0.53% 0.53% 0.53%
No. of Shareholders 10,68615,37718,36039,78342,98840,10640,60539,77637,58135,24538,47241,443

* 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.

Click on the line-items to see the names of individual entities.

Documents

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