Apollo Pipes

Apollo Pipes Limited reported flat year-on-year consolidated sales volume for Q1 FY26, with standalone volumes declining 4%. The company faced pressure from weak end-user demand in private real estate and government infrastructure spending, along with volatile PVC resin prices that led to channel partner destocking. Management highlighted a four-pronged strategy including product portfolio expansion with PLB ducts, DWC pipes, PE gas pipes, PVC-O pipes, and entry into UPVC doors and windows. The company is focusing on improving CPVC contribution from current 15% to above 20% over 1-2 years through partnerships with raw material suppliers. Apollo incurred Rs 70 crores CAPEX in Q1 following Rs 166 crores in FY25, targeting total installed capacity of 2,86,000 tons over next 2 years. The West India facility acquired last year is ramping up production, while the new Varanasi plant is expected to commence operations in coming months. Management expects double-digit volume growth for FY26, anticipating improved demand from September onwards post-monsoon. Current product mix shows 60% housing and 40% agriculture segments.

Apollo Pipes has outlined an aggressive expansion plan to increase capacity to 286,000 tonnes per annum by FY27. The company is targeting a revenue compound annual growth rate of over 25% despite experiencing weakness in Q1FY26 results amid challenging macroeconomic conditions.

Apollo Pipes Limited's Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. On a consolidated basis, the company reported revenue from operations of Rs 27,500.16 lakh and net profit of Rs 816.12 lakh, with basic earnings per share of Rs 1.85. Standalone revenue was Rs 22,000.77 lakh with net profit of Rs 811.29 lakh and basic EPS of Rs 1.84. The Board recommended re-appointment of Mr. Arun Agarwal as Joint Managing Director for three years starting April 1, 2026, and appointment of AKGVG & Associates as new Statutory Auditors for five years, both subject to shareholder approval at the upcoming 39th AGM. The company also appointed new Secretarial Auditors, Cost Auditors, and Internal Auditors. Apollo Pipes acquired an additional 1% stake in subsidiary Kisan Mouldings Limited for Rs 4.95 crore, increasing its holding from 57.6% to 58.6%.