Apl Apollo Tubes Limited · NSE:APLAPOLLO
Apl Apollo Tubes — Investor Presentation (January 2026)
70 slides from Apl Apollo Tubes's investor presentation, January 2026
Slide 1: India is ready and so we are
“India is ready and so we are” Revolution the world of tube Tubes from 8*8mm to 1000*1000mm with 0.18mm to 40mm Thickness Investor presentation Jan 2026
Slide 2: Safe Harbour
Safe Harbour Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "
Slide 3: Contents
Contents • APL Apollo Overview • Core Competence • Structural Steel Tubes Applications • Business Strategy • New Initiatives APL APOLLO TUBES • ESG Engagement • Financial Perfromance • Team APL Apollo 3
Slide 4: APL Apollo Overview
APL APOLLO OVERVIEW APL APOLLO TUBES 4
Slide 5: APL Apollo at a Glance
APL Apollo at a Glance 01 Leading Structural Steel Tube Brand 11 16 plants Patents 14 Brands, Four Product Categories 55% Market Share 3,382 Employees 800+ Distributors APL APOLLO TUBES 5 Million Ton, Structural Steel Capacity 5,000+ Products *Market share is for 9MF Y26 5
Slide 6: India's Leading Building Material Brand
India’s Leading Building Material Brand 6
Slide 7: Our Brands
Our Brands 83% Apollo Structural Structural steel construction material: Fabritech, Build, DFT, Column, FireReady, Agri Residential, Commercial, Infrastructure Plank, Signature, Elegant, Chaukhat Building Material Apollo Z 13% Galvanized structural steel construction material: Residential, Commercia
Slide 8: Product Application & Sales Mix
Product Application & Sales Mix Product Category Sales Volume Mix (%) Applications Apollo Structural 64% 67% Structural, Piling, Sheds, Handrails, Residential Buildings & 41% Gates, Fencing, Balcony Grills, Independent Homes Building Material Staircase, Light Structures housing Structures for Metros
Slide 9: Brand Equity
APL APOLLO TUBES Brand Equity 9
Slide 10: B2C Channel
B2C Channel DISTRIBUTORS 800+ Solid Relationships, Incentive plans RETAILERS 50,000+ Retailer bonding program Apollo Connect Programs, Fabricator/Architect APL APOLLO TUBES FABRICATORS, 2,00,000+ ARCHITECTS & ENGINEERS meets for Brand promotion CONNECT Indian Premier League, Football, Kabaddi League
Slide 11: Core Competence
CORE COMPETENCE APL APOLLO TUBES 11
Slide 12: Porter's Five Forces
Porter’s Five Forces Threat of Entry Bargaining power of distributors • Scale of 5 Mn ton capacity; wide gap • 55% market share in structural steel between No. 2 Player tubing industry • Vast distribution network (access to 800+ • Monopoly products (new innovative distributors, 50,000 retailers, 200
Slide 13: Our Business Moat
Our Business MOAT... Highest no. of products Lowest cost producer (largest with 5,000 SKUs buyer of HR coil) Highest scale with 11 plants Premium pricing to peers Highest (5 Mn ton capacity) Profitability (brand strength) APL APOLLO TUBES Largest sales network Technology edge & Innovation (800+ dist
Slide 14: Dominant Leadership
Dominant Leadership Peer Market Share FY25 APL's Market Share (%) 11% 7% 55 55 55 55 50 APL Apollo 7% Player 1 40 Player 2 55% 10% Player 3 Player 4 Others 10% FY20 FY21 FY22 FY23 FY24 FY25 Number of Plants Capacity (Mn Tons) APL APOLLO TUBES 5 11 11 11 11 4.5 3.6 3.8 2.6 2.6 10 10 FY21 FY22 FY23 FY
Slide 15: Unique Capabilities
Unique Capabilities Developed structural Technology Distribution network Innovative products steel market in India APL APOLLO TUBES First Mover advantage Direct Forming Technology for big B2C channel for last mile Ground breaking solutions structural products penetration No.1 Leader; Focused on stee
Slide 16: Ready To Take-Off
Ready To Take-Off Annualized volume as per Dec’25 sales: 1. Dec’25 Sales Volume: ~370 K Ton 4.4 Mn Ton 2. Current Annual Capacity: 5 Mn Ton Capacity Utilization: ~89% Existing capacity Greenfield capacity Debottlenecking Future capacity 5 Mn Ton 2 Mn Ton 1 Mn Ton 2 Mn Ton • Gorakhpur 200,000 Ton • P
Slide 17: Market Leadership
Market Leadership 800+ • Brand Equity Highest Sales price point • 5000+ SKU’s Dealers • High EBITDA margin APL Apollo Brand • Superior servicing 50,000+ Retailers • Market share expansion 200,000+ • Take market from sponge iron Lowest Sales price point pipes Fabricators • Compete with smaller & SG B
Slide 18: Demand Drivers
DEMAND DRIVERS
Slide 19: Structural Steel Tube Applications
Structural Steel Tube Applications Application Mix 4% 13% Housing Commercial buildings 19% 64% Infrastructure APL APOLLO TUBES Others *As per 9MFY26 revenue
Slide 20: India Structural Steel Tube market potential
India Structural Steel Tube market potential Structural steel tubes as % of steel market Crude steel production in India (Mn Ton) Structural steel tubes in India (Mn Ton) (FY24) 17.3 11 210 9 9 8 8 7 139 6.5 9.0 Global Europe LAT-AM Japan Middle North India FY24 2030E FY24 2030E East America Structu
Slide 21: Solar structure opportunity for structural tubes
Solar structure opportunity for structural tubes Annual solar Annual APL Apollo Products installation by Segments Products market Solar structure opportunity 2030 size by 2030 Market opportunity 33.3GW for APL Apollo 830,000 Ton Solar power products by 2030 1. Residential 14.5GW Tubes 360,000 Ton Ro
Slide 22: Steel Tube usage in housing/commercial buildings
Steel Tube usage in housing/commercial buildings Housing Commercial/Infrastructure Cost (per sq ft in Homes) Cost (per sq ft in Commercial/Infra) 125 523 50 41 43 35 125 23 50 35 43 23 Steel Tubes PVC pipes Tiles Wires Cement Paints Steel tubes PVC pipes Tiles Wires Cement Paints Steel Tube applicat
Slide 23: Diversified product offering
Diversified product offering Created through continuous innovation Product Category Application Product – visual Key USPs Applications Applications – visual overview overview • First company to introduce DFT High-rise, Warehousing, Infrastructure technology in India • Offers columns of 300mm x 300mm
Slide 24: Business Strategy
Capex Plan for Distribution value addition Enhancement BUSINESS STRATEGY APL APOLLO TUBES Market Creation Innovation
Slide 25: APL Apollo Vision
APL Apollo Vision MARKET CREATION INNOVATION ESG • Solid new product + • Replacement of + • Introducing environmentally conventional pipeline construction products friendly products • Wood • To reduce the emissions by • Complete product • Angles/Channels 25% by 2030 portfolio for steel • RCC • Worki
Slide 26: Innovation
INNOVATION World’s only company to make steel tubes with size range of 8x8mm to 1000x1000mm and thickness range of 0.18 mm to 40mm APL APOLLO TUBES 26
Slide 27: What we have done so far as the first company
What we have done so far as the first company Indian Markets Structural steel square and Structural application in rectangular tubes: construction Industry Pre-galvanized structural Corrosive resistant structural steel tubes (Apollo Z): applications DFT (Direct Forming Faster TAT with tailor made AP
Slide 28: What we have done so far as the first company
What we have done so far as the first company Global Markets Chaukhat (Door frame Replacing Conventional shape tubes) wooden door frames Rectangular section of 1:11 Replacing Conventional (Length to Breadth) wooden sections APL APOLLO TUBES 28
Slide 29: Products
AAS Handrail Window Frame Window Frame PRODUCTS Window Frame Reflector Tube Oval Tube Tube (Z) Double Door Apollo Signature Four door Frame Frame REGISTERED PATENTS ”n Ww a > = ° Plank Tube Octagon Fencing Tube = a < = a < Single Door Elliptical Tube D Section Frame Checkered Sheets
Slide 30: New Product Pipeline from Raipur plant
New Product Pipeline from Raipur plant Superior corrosion resistant, high load World’s 1st thicker color coated bearing with aesthetics thickness 1.60mm to products 3 mm World’s 1st Color coated Superior corrosion resistant with structural steel tubes aesthetics India’s 1st 500x500x20mm dia. structu
Slide 31: Market Creation
MARKET CREATION APL APOLLO TUBES 31
Slide 32: How Have We Created Market
How Have We Created Market.. Conventional Construction Why Structural Steel Tube replaces How to replace the conventional Applications Products these products? products?? Structural support, Towers Uniform Strength, Steel Angle/Channels infrastructure Lower steel consumption Low Diameter Cost Effect
Slide 33: Revolutionizing Construction Industry
REVOLUTIONIZING CONSTRUCTION INDUSTRY APL APOLLO TUBES 33
Slide 34: Tubular Construction Process flow
Tubular Construction Process flow Tube Manufacturing Fabrication Civil Foundation Hospital Building Production of 6,000 ton ERW Tubes are sand blasted, then Civil Foundation & Arrangement Hospital tubes per day at plants of APL connected using of anchor bolts at site to install Apollo connectors tub
Slide 35: Completed Delhi Hospitals
Completed Delhi Hospitals • GTB Nagar • Shalimar Bagh • Sultanpuri • Geeta Colony • Sarita Vihar • Raghuvir Nagar APL APOLLO TUBES 35
Slide 36: Ongoing Hospitals
Ongoing Hospitals • Mumbai • Imphal • Shillong • New Delhi • Mathura APL APOLLO TUBES 36
Slide 37: Educational Projects
Educational Projects • National Sports University • IIT Roorkee • IP University • Amity University APL APOLLO TUBES 37
Slide 38: Educational Projects (contd..)
Educational Projects (contd..) • IILM University • Mathura Medical College • GLA University • Thapar University • Modern School APL APOLLO TUBES 38
Slide 39: Residential Projects
Residential Projects Army Housing, Delhi APL APOLLO TUBES 39
Slide 40: Commercial Projects
Commercial Projects • Orissa Tower 1 • Orissa Tower 2 • Triveni Mall, Bangaluru • Faridabad • Experience Centre, Noida • Yatri Niwas, Amarnath APL APOLLO TUBES 40
Slide 41: Railway Stations
Railway Stations • Andhra Pradesh • Karnataka • Maharashtra 1 • Maharashtra 2 • Telangana • Rajasthan 1 • Uttar Pradesh 1 • Bihar APL APOLLO TUBES 41
Slide 42: Railway Stations (contd..)
Railway Stations (contd..) • Rajasthan 2 • Uttar Pradesh 2 • West Bengal • Madhya Pradesh • Gujarat • Tamil Nadu • Maharashtra 3 • Uttar Pradesh 3 APL APOLLO TUBES 42
Slide 43: Airports Projects
Airports Projects • Rajasthan 1 • Uttar Pradesh 1 • Rajasthan 2 • Jammu Kashmir • Andhra Pradesh 1 • West Bengal APL APOLLO TUBES 43
Slide 44: Airports Projects (contd..)
Airports Projects (contd..) • Bihar • Uttar Pradesh 2 • Karnataka 1 • Karnataka 2 • Karnataka 3 • Gujarat • Uttar Pradesh 3 • Haryana • Orissa • Andhra Pradesh 2 • Rajasthan 3 APL APOLLO TUBES 44
Slide 45: Industrial Projects
Industrial Projects • Shakya Warehouse • Star Cement • Joyce Agro • ABPL Shed • Tricoat Shed • Cement shed, Rajasthan APL APOLLO TUBES 45
Slide 46: Industrial Projects (contd..)
Industrial Projects (contd..) • Dujana Shed • Birla Cement • Carbon Circle • TG Shed • Automobile factory • Clinker • Tea Factory • Ethanol plant • Evolvepack Shed 46
Slide 47: Applications
Applications ● High Rise Buildings ○ Hospitals, Housing, Schools, Courts, Hotels/Malls/Offices ● Warehouses/Cold Storage/Food Parks 45 42mn sq. ft. 220,000 ton heavy structural steel projects Visibility tubes ● Factory Buildings/Process Structures ● Aviation Hangers ● Data Centres Ongoing enquiries
Slide 48: Vision FY28
Vision FY28 ✓ Capacity: 8 Mn Tons 1 Dominant position with 60%+ market share Company aims to continue its dominant position in Indian Market with Capacity Utilization of 70%+ 2 Product innovation Create formidable position in newer product category (Super Heavy and Coated) ✓ Revenue 2X 3 Strengthen
Slide 49: APL Apollo's ESG Transformation Journey
APL Apollo’s ESG Transformation Journey 49
Slide 50: ESG- DJSI Scoring
ESG- DJSI Scoring DJSI Scroing 86 89 80 56 2021 2022 2023 2024 Score percentile (%) APL APOLLO TUBES APL APOLLO SCORED 89TH PERCENTILE IN 2024 50
Slide 51: Scope & emissions reduction by 25% by 2030; Net Zero by 2050
Scope 1 & 2 emissions reduction by 25% by 2030; Net Zero by 2050 Scope of Purchased goods GHG Inventory Planned Initiatives: and services expanded to calculated for Scope • RE installations in include raw materials 1, 2, 3 and set as ABPL plant (Steel Coils) baseline • RE expansions in New Boundary
Slide 52: Scope & emissions reduction by 25% by 2030; Net Zero by 2050
Scope 1 & 2 emissions reduction by 25% by 2030; Net Zero by 2050 Renewable Electricity Consumption (GJ) Trend of GHG Emissions over past 4 years Renewable Electrcity Grid Electricity Scope 1 (MTCO2e) Scope 2 (MTCO2e) Scope 3 (MTCO2e) 903,988 FY 2021-22 24,486 66,349a 42,661 732,067 FY 2022-23 29,260
Slide 53: Commitment and achievements
Commitment and achievements Commitments Achievements ▪ Committed to reducing Scope 1&2 emissions by 25% by 2030 E ▪ Introduced new, environmentally friendly products E ▪ Committed to set near term and Net Zero targets by 2050 E ▪ All plants have access to green energy, 2 plants have more than 85% de
Slide 54: Front runner for Steel for Green
Front runner for Steel for Green ▪ APL Apollo is the 1st Company to innovate readymade Doorframe, Fence, Plank and Hand rails as Steel for Green Concept which replaced conventional wood application in building construction ▪ Our Products are saving 250,000 trees every year, going ahead we will be sa
Slide 55: Steel Buildings = Decarbonization
Steel Buildings = Decarbonization ● Construction sector contributes 30% of direct and indirect Co2 emissions Steel Structure - RCC Structure ● Structural steel is preferred for steel buildings because steel is ○ Infinitely recyclable ○ Easy to pre-fabricate ○ High volume to weight ratio APL APOLLO T
Slide 56: ESG Developments
ESG Developments Assessed Scope 3 emissions (in addition to Scope 1 & Scope 2) 1) Safety Manual formulated for all the production facilities and offices 2) New Human Rights policy incorporated APL APOLLO TUBES Code of Conduct: New Code of conduct is formulated for all employees 56
Slide 57: Financial Priorities & Performance
FINANCIAL PRIORITIES & PERFORMANCE APL APOLLO TUBES 57
Slide 58: Financial Priorities Under Strong Governance
Financial Priorities Under Strong Governance Growth Earnings Drive sustainable EPS growth Profitable Organic Growth Attain earnings objectives across Commitment to R&D and Talent economic cycles Innovate products to replace conventional construction methods APL APOLLO TUBES Capital Allocation Net ca
Slide 59: Growing Strength to Strength
Growing Strength to Strength Sales Volume (k Ton) EBITDA (Rs Mn) 3,158 12,909 11,922 11,990 2,618 2,566 10,215 2,280 9,452 1,633 1,640 1,755 6,787 1,339 1,130 4,774 894 932 3,710 3,928 3,330 2,817 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 9MFY26 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 F
Slide 60: Growing Strength to Strength
Growing Strength to Strength ROE (%) ROCE (%) 34.6 33.3 28.9 24.8 29.2 29.5 23.5 22.2 24.5 19.4 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 Interest Coverage Ratio (x) Net Working Capital Days APL APOLLO TUBES 7 19.7 5 13.9 11.9 9.6 3 7.5 1 0 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25
Slide 61: Growing Strength to Strength
Growing Strength to Strength Operating Cash Flow (Rs Bn) Net Debt/EBITDA (x) 12.1 11.2 9.7 8.5 6.5 0.2 0.2 -0.3 -0.3 -0.0 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 Net Debt/ Equity (x) Net Debt/ (cash) (Rs Bn) 2.4 APL APOLLO TUBES 2.0 Net cash Net cash 0.1 0.1 -0.0 -0.07 -0.11 -0.2 -3.1
Slide 62: Growing Strength to Strength
Growing Strength to Strength Operating Cashflow to EBITDA (%) Capex to Op. Cash flow (%) 90 87 101 95 94 69 66 59 54 47 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 FCF (Rs Bn) Du-Pont ROE (%) APL APOLLO TUBES 4.6 5 3.7 28 3.6 4 21 3 14 2 0.4 1 7 -0.6 0 0 FY21 FY22 FY23 FY24 FY25 9MFY26 Net
Slide 63: Cash Flow Bridge (Rs Mn)
Cash Flow Bridge (Rs Mn) 8,544 1,008 -3,979 5,621 -2,999 3,047 APL APOLLO TUBES Net cash in FY25 Op. Cash flow Capex Investments Dividend & others Net Cash in 9MFY26 Business continues to Capex being funded from generate strong Net cash balance sheet internal cash flows operational cash flows
Slide 64: Profit & Loss Statement (Consol)
Profit & Loss Statement (Consol) Particulars (Rs Mn) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 FY25 9MFY25 9MFY26 Sales Volume (K Ton) 721 758 828 850 794 855 917 3,158 2,308 2,566 Net Revenue 49,743 47,739 54,327 55,086 51,698 52,063 58,151 2,06,895 1,51,809 1,61,912 Raw Material Costs 42,69
Slide 65: Provisional Balance Sheet & Cash flow (Consol)
Provisional Balance Sheet & Cash flow (Consol) Balance Sheet - Assets (Rs mn) FY25 9MFY26 Cashflow Statement (Rs mn) FY25 9MFY26 Cash & Bank Balance 9,199 11,099 EBITDA 11,990 12,909 Receivables 2,673 4,277 Change in receivables -1,329 -1,604 Inventories 16,232 18,906 Change in inventory 125 -2,675
Slide 66: De-commoditizing Product Portfolio (YoY)
De-commoditizing Product Portfolio (YoY) FY22 FY23 FY24 FY25 9MFY26 Product Sales Sales Application Vol. EBITDA/Ton Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Category Mix Mix (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon
Slide 67: Global Peer Benchmarking
Global Peer Benchmarking 215 23% 18% 11% APL Apollo 185 106 8% SSAB 68 Maruichi Zekelman SSAB Maruichi Zekelman APL Apollo Revenue (Rs Bn) EBIDTA Margin (%) 5 APL APOLLO TUBES 2.8 60% 60% 80% 1.4 97% 1.1 SSAB Maruichi Zekelman APL Apollo SSAB Maruichi Zekelman APL Apollo Manufacturing Capacity (mn t
Slide 68: Board of Directors
Sanjay Gupta Board of Directors Chairman & Managing Director Steel Industry veteran with 3 decades of experience Vinay Gupta Rahul Gupta Deepak Goyal Director Director Director-Operations & Group CFO More than 20 years of A promising entrepreneur with 2 decades of professional industry experience in
Slide 69: Our Leadership
Our Leadership Vinay Gupta Deepak Goyal CK Singh Rahul Gupta Director-Operations & Director Director Director & COO Group CFO APL APOLLO TUBES Anubhav Gupta Chetan Khandelwal Vipul Jain Utkarsh Dwivedi Chief Strategy Officer Chief Financial Officer Company Secretary CEO - Dubai Operations Sanjay Gup
Slide 70: Thank You
Thank You For further information, please contact: Anubhav Gupta Deepak Goyal APL Apollo Tubes Ltd APL Apollo Tubes Ltd Tel: +91 120 691 8000 Tel: +91 120 691 8000 Email: anubhav@aplapollo.com Email: deepakgoyal@aplapollo.com APL APOLLO TUBES Shubham Mittal APL Apollo Tubes Ltd Tel: +91 120 691 8000
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