Apollo Pipes Limited — Investor Meet, 12-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Apollo Pipes faced a challenging Q1 FY26 with flat consolidated sales volume and margin pressure due to weak demand and intense competition. Management expects demand to improve from September with post-monsoon construction and increased government spending. The company is expanding its product portfolio (including UPVC doors/windows), boosting CPVC contribution (targeting >20%), ramping up its West India plant, and commencing operations at its new Varanasi facility. Apollo Pipes spent Rs. 70 Cr on CAPEX in Q1, aiming for 286,000 tons capacity without adding debt, and anticipates double-digit volume growth for FY26. Management remains confident in long-term growth and margin recovery.