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Informist, Friday, Jul. 31, 2026

By Astha Oriel

NEW DELHI – APL Apollo Tubes Ltd. is likely to report an on-year rise in its consolidated bottom line for the June quarter, according to the brokerages tracking the company. This is due to a sharp rise in net sales realisations of the company, which will to an extent be offset by a decline in sales volume, analysts said. 

The consolidated net profit is expected to be INR 2.73 billion, up over 15% on year, according to the average of estimates by 11 brokerages. The highest estimate of net profit is at INR 2.92 billion from Elara Securities (India) Pvt. Ltd., and the lowest estimate is at INR 2.41 billion from SMIFS Ltd. This is likely to be the seventh consecutive quarter of an on-year increase in net profit. It will, however, be slower than the preceding quarters. 

The net sales are expected to rise over 1% on year to INR 52.30 billion, according to the brokerages' estimates. The highest net sales estimate is INR 54.21 billion from 360 ONE Capital Market Pvt. Ltd., and the lowest estimate is INR 49.90 billion from Systematix Shares and Stocks (India) Ltd. If realised, this  is likely to be the 10th consecutive quarter of an on-year increase in net sales. The rise will, however, be slower than the preceding quarters. Sequentially, the company's net profit and net sales are expected to decline nearly 23% and nearly 17%, respectively.

For the June quarter, the steel pipes and tubes manufacturer's sales volume fell over 6% on year to 744,823 tonnes owing to a fall in sales in the company's UAE operations and a drop in sales from 'APL Apollo Brand.' The company's sales were at 794,000 tonnes in the year-ago quarter. 

The company's earnings before interest, tax, depreciation, and amortisation are expected to rise nearly 12% to INR 4.16 billion, according to the average of estimates by 10 brokerages.  The highest EBITDA estimate is INR 4.36 billion from Elara Securities (India), and the lowest estimate is at INR 3.81 billion from SMIFS. Sequentially, the EBITDA is expected to fall nearly 19%. 

"We expect EBITDA to increase by 13% YoY on account of lower employee expenses and manufacturing costs, on a QoQ (quarter-on-quarter) basis, it will decline by 18% due to drop in sales volume," Axis Securities said in a note. 

HDFC Securities Ltd. expects EBITDA per tonne at INR 5,519, and ICICI Securities Ltd. sees EBITDA per tonne at INR 5,585. Axis Securities Ltd. expects EBITDA per tonne at INR 5,625. In the year-ago quarter, the company's EBITDA per tonne was INR 4,683. 

HDFC Securities expects net sales realisation at INR 71,156 per tonne, whereas Axis Securities estimates it at INR 69,877 per tonne. The brokerage said steel hot rolled coil prices increased 9% on year and 7% on quarter to INR 57,219 per tonne in the June quarter. 

The company will announce its June quarter earnings on Saturday. On Thursday, shares of the company closed 1.3% higher at INR 1893.10 on the National Stock Exchange. This is over 1% higher than the share price following the announcement of March quarter earnings on May 2. 

All the 11 brokerage reports on the company available with Informist have a 'buy' rating on the stock with an average target price of INR 2,238 per share. This is over 18% higher than the current share price.

Following are the June quarter earnings estimates for APL Apollo Tubes from 11 brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Himanshi Gupta

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