APL Apollo Tubes Limited — PPTs, 07-05-2025: Investor Presentation

1. Financial Highlights:

APL Apollo Tubes posted record Q4 and FY25 results with consolidated sales volume rising 25% YoY to 850k tons in Q4 and 21% YoY to 3.16 million tons for the year. Revenue grew 16% YoY in Q4 to ₹5508.6 Cr and 14% YoY to ₹20,690 Cr in FY25. Q4 EBITDA jumped 48% YoY to ₹410 Cr, with EBITDA per ton up 18% to ₹4,864. FY25 EBITDA held steady at ₹1,200 Cr, with EBITDA/ton at ₹3,797. Net profit surged 72% YoY in Q4 to ₹291 Cr and increased 3% YoY to ₹757 Cr for the full year. Working capital remained near zero days and net cash was ₹310 Cr. ROE eased to 19.4% and ROCE stood at 24.5%.

2. Strategic Initiatives & Growth Drivers:

Capacity is being ramped up from 4.5 to 6.8 million tons by FY28 via new greenfield and brownfield projects, focused on specialty tubes for structural, oil & gas, and mechanical sectors. Capex guidance is ₹1500 Cr over three years, funded internally. The emphasis is on premium, value-added products delivering EBITDA above ₹5,000/ton to improve margins.

3. Business Developments:

The Dubai plant was recently commissioned, complementing expansions at Indian facilities including Raipur and Malur. Its portfolio exceeds 3,000 variants targeting urban infrastructure, real estate, commercial construction, and solar sectors. APL Apollo’s pan-India presence includes 11 plants and over 800 distributors.

4. Market Position & Competitive Advantage:

India’s largest branded structural steel tube maker, APL Apollo leverages scale, broad product diversity, and extensive distribution to maintain leadership. A shift to higher-margin specialty tubes and innovation underpins strong margin mix and ROCE. Its zero net working capital and disciplined capital allocation differentiate it in a competitive market.

5. Investor Implications:

Volume growth outpacing peers, record profitability, strong cash flow, and capacity expansion signal positive growth potential. Monitoring execution of capacity ramp-up and premium product mix sustaining margins is critical. Robust balance sheet and market leadership lower capital risk, positioning APL Apollo well for India’s structural steel market expansion.