APL Apollo Tubes Q4FY26 Results: Profit Up 20.9%; FY27 Growth Guidance Issued
APL Apollo Tubes reported Q4FY26 consolidated revenue of ₹6,269.16 crores (+13.8%) and net profit of ₹354.35 crores (+20.9%), while FY26 consolidated PAT surged 58.9% to ₹1,203.08 crores. The company issued FY27 guidance targeting 25-30% PAT growth, 15-20% volume growth, and 20-25% EBITDA growth, with Dubai operations at 40% capacity showing improved margins.
*this image is generated using AI for illustrative purposes only.
APL Apollo Tubes Limited reported strong financial results for the quarter and year ended March 31, 2026, alongside key strategic updates from its earnings concall. The company noted that its Dubai operations are currently running at 40% capacity, with lower volumes but improved margins. Management also indicated that forecasting monthly sales volumes remains difficult and communicated its intent to prioritize profitability over volume growth in the near term. In its latest guidance, the company has set targets of 25-30% PAT growth, 15-20% volume growth, and 20-25% EBITDA growth for FY27. The audited financial results were published as newspaper advertisements on May 3, 2026, in The Financial Express (English Standard) and Jansatta (Hindi Standard), pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following a Board meeting held on May 2, 2026.
Q4FY26 Financial Performance
The fourth quarter ended March 31, 2026, demonstrated robust financial performance across key metrics. APL Apollo Tubes reported consolidated revenue of ₹6,269.16 crores compared to ₹5,508.60 crores in Q4FY25, marking a growth of 13.8%. Net profit after tax for Q4FY26 stood at ₹354.35 crores, representing a significant increase of 20.9% from ₹293.11 crores in the corresponding quarter of the previous year. EBITDA improved by 22.0% to ₹547.52 crores from ₹448.61 crores, with EBITDA margin expanding by 58 basis points to 8.73%.
| Q4 Results: | Q4FY26 (₹ crores) | Q4FY25 (₹ crores) | Growth |
|---|---|---|---|
| Revenue: | 6,269.16 | 5,508.60 | +13.8% |
| Net Profit: | 354.35 | 293.11 | +20.9% |
| EBITDA: | 547.52 | 448.61 | +22.0% |
| EBITDA Margin: | 8.73% | 8.15% | +58 bps |
| EPS: | 12.76 | 10.56 | +20.8% |
Annual Financial Results
For the full financial year FY26, APL Apollo Tubes delivered exceptional performance with consolidated revenue from operations reaching ₹23,079.00 crores, compared to ₹20,689.54 crores in FY25, reflecting an 11.5% growth. The company's consolidated profit after tax for FY26 increased significantly to ₹1,203.08 crores from ₹757.06 crores in the previous year, marking a substantial 58.9% improvement. EBITDA for FY26 rose 47.7% to ₹1,913.67 crores from ₹1,295.04 crores in FY25.
| Annual Results: | FY26 (₹ crores) | FY25 (₹ crores) | Growth |
|---|---|---|---|
| Consolidated Revenue: | 23,079.00 | 20,689.54 | +11.5% |
| Consolidated Profit: | 1,203.08 | 757.06 | +58.9% |
| EBITDA: | 1,913.67 | 1,295.04 | +47.7% |
| EPS (Basic): | 43.34 | 27.28 | +58.9% |
Standalone Financial Results
The standalone results for FY26 showed revenue from operations of ₹15,109.94 crores, compared to ₹14,360.71 crores in FY25. Standalone profit after tax for FY26 reached ₹547.12 crores, up from ₹335.59 crores in the previous year. For Q4FY26, standalone revenue stood at ₹4,215.93 crores with profit after tax of ₹205.10 crores.
FY27 Guidance
Building on its strong FY26 performance, APL Apollo Tubes has issued growth guidance for FY27. The company is targeting PAT growth of 25-30%, volume growth of 15-20%, and EBITDA growth of 20-25% for the upcoming financial year.
| FY27 Guidance: | Target |
|---|---|
| PAT Growth: | 25-30% |
| Volume Growth: | 15-20% |
| EBITDA Growth: | 20-25% |
Management Commentary: Dubai Operations and Strategy
In its earnings concall, APL Apollo Tubes provided an update on its Dubai operations, which are currently running at 40% capacity utilization. While volumes at the Dubai facility remain lower, the management highlighted that margins have improved at current operating levels. The company also flagged that forecasting monthly sales volumes is challenging given prevailing market conditions, and signaled a strategic focus on margin preservation and earnings quality over volume growth in the near term. The audited financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) and are available on the websites of the stock exchanges ( www.bseindia.com and www.nseindia.com ) as well as the company's website at www.aplapollo.com . Company Secretary and Compliance Officer Vipul Jain confirmed the availability of the complete financial results on the company's website.
Historical Stock Returns for APL Apollo Tubes
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.68% | -7.41% | -3.30% | +4.95% | +15.63% | +187.65% |
What specific market conditions or demand drivers in the Middle East could enable APL Apollo's Dubai facility to scale beyond 40% capacity utilization in FY27?
How might APL Apollo's stated preference for profitability over volume growth affect its competitive positioning against peers if rivals aggressively pursue market share in FY27?
Given the significant gap between consolidated PAT growth (58.9%) and standalone PAT growth in FY26, which subsidiaries or geographies are driving the outperformance and can that trend sustain?
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