APL Apollo Tubes Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
APL Apollo Tubes reported Q1 FY27 volume of 745,000 tons, a decline from Q4 FY26, which management attributed to disruption in UAE operations, softer SG Premium volumes, an energy crisis affecting some product lines, and destocking amid high commodity prices. Despite lower volumes, gross profit per ton rose by Rs 1,000 quarter-on-quarter and EBITDA per ton remained flattish above Rs 5,500 per ton. Management said July volumes were up 20% month-on-month and reiterated targets of 15% to 20% volume growth and more than 20% EBITDA growth for the full year.
APL Apollo Tubes reported 9% year-on-year growth in quarterly volume and EBITDA per ton above INR5,500 for Q4 FY26, alongside 37% ROCE and a negative working capital cycle for the full year. Management said the Middle East crisis, steel shortages, gas and energy disruptions, and labour shortages affected operations toward the end of the fiscal year, with Dubai operations running at 40% utilization. The company said it is prioritizing margin protection over volume growth given the unpredictable environment, while maintaining its capacity expansion plans toward 8 million tons by FY28.