APL Apollo Tubes Limited — Investor Meet, 01-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

APL Apollo Tubes delivered record Q2 FY26 volumes, EBITDA, and PAT despite challenging monsoon conditions. EBITDA spread reached over INR5,000/ton, driven by brand power, value-added mix from Raipur/Dubai, and operating leverage. Management is confident in achieving 10-15% volume growth and INR4,600-INR5,000/ton EBITDA spread for FY26. Strategic plans include 7 million tons capacity expansion in new markets (Middle East, East India) funded by internal accruals, targeting 10 million tons long-term. Focus remains on profitability, cost optimization, and replacing the secondary steel market with quality products. The company sees a positive H2 with stabilizing steel prices and improved demand.