Apl Apollo Tubes Limited · NSE:APLAPOLLO
Apl Apollo Tubes — Q2 FY26 Earnings Presentation
37 slides from Apl Apollo Tubes's earnings presentation, Oct 30, 2025
Slide 1: Exchange filing cover letter
October 29, 2025 Electronic Filing National Stock Exchange of India Limited Department of Corporate Services/Listing “Exchange Plaza” Bandra-Kurla Complex, BSE Limited Bandra (E), Phiroze Jeejeebhoy Tower, Mumbai-400051 Dalal Street, Fort, Mumbai-400001 NSE Symbol : APLAPOLLO Scrip Code : 533758 Dea
Slide 2: Earnings presentation Q2FY26
“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 Earnings presentation Q2FY26 1
Slide 3: 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 4: Contents
Contents • Q2FY26 at glance • Financial Performance • Business Strategy • Demand Drivers • ESG Engagement APL APOLLO TUBES • Team APL Apollo 3
Slide 5: Q2FY26 at a Glance
Q2FY26 at a Glance 855k Ton ₹52.1Bn ₹4.5Bn ₹5,228 Sales Volume Revenue EBITDA EBITDA/ton 13% YoY increase 9% YoY increase 224% YoY increase 187% YoY increase 8% QoQ increase 1% QoQ increase 20% QoQ increase 12% QoQ increase 57% ₹276Mn ₹3.0Bn ₹3.6Bn Value Added Sales mix Interest Cost Net profit Cash
Slide 6: H1FY26 at a Glance
H1FY26 at a Glance 1,649k Ton ₹ 103.8 Bn ₹8.2Bn ₹ 4,966 Sales Volume Revenue EBITDA EBITDA/ton 11% YoY increase 6% YoY increase 86% YoY increase 67% YoY increase 59% ₹609 Mn ₹5.4Bn ₹ 6.5Bn Value Added Sales mix Interest Cost Net profit Cash profit H1FY25 was 58% 5% YoY decrease 118% YoY increase 91%
Slide 7: Highest ever quarterly Volume, EBITDA & PAT
Highest ever quarterly Volume, EBITDA & PAT Profit & Loss (Rs Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Mn) Sales Volume (k Ton) 423 602 605 650 662 675 604 679 721 758 828 850 794 855 Revenue 34,386 39,692 43,271 44,311 45,449 46,304 41,778 47
Slide 8: Financial Performance
FINANCIAL PERFORMANCE APL APOLLO TUBES 7
Slide 9: 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 Achiev
Slide 10: De-commoditizing Product Portfolio (QoQ)
De-commoditizing Product Portfolio (QoQ) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Application Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton (%) (K Ton) (Rs) (%) (K Ton) (Rs) (%) (K Ton) (Rs) (%) (K Ton) (Rs) (%) (K Ton) (R
Slide 11: De-commoditizing Product Portfolio (YoY)
De-commoditizing Product Portfolio (YoY) FY22 FY23 FY24 FY25 1HFY26 Product Application Sales Sales Category Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Mix Vol. EBITDA/Ton Mix Vol. EBITDA/Ton (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon
Slide 12: Capacity expansion plan by FY28
Capacity expansion plan by FY28 Existing capacity Brownfield expansion Greenfield expansion Speciality tubes Capacity 4.5 Mn Ton 0.8 Mn Ton 1.0 Mn Ton 0.5 Mn Ton • New expansion for speciality + International: Dubai 200,000 Ton + East: Gorakhpur 200,000 Ton tubes + Raipur: Roofing sheets 500,000 Ton
Slide 13: Growing Strength to Strength
Growing Strength to Strength Volume (K Ton) EBITDA (Rs Mn) 4,470 4,137 850 855 3,720 3,456 828 794 758 1,380 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 EBITDA/Ton (Rs) Net Profit (Rs Mn) 5,228 2,931 3,015 4,864 4,683 APL APOLLO TUBES 4,173 2,372 2,170 1,821 538 Q2FY25 Q3FY
Slide 14: Growing Strength to Strength
Growing Strength to Strength ROE (%) ROCE (%) 34.6 28.9 32.4 29.2 29.5 23.5 24.4 22.2 24.5 19.4 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 Interest Coverage Ratio (x) Net Working Capital Days APL APOLLO TUBES 7 19.7 13.9 5 11.6 9.6 7.5 1 0 0 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25
Slide 15: Growing Strength to Strength
Growing Strength to Strength Operating Cash Flow (Rs Bn) Net Debt/EBITDA (x) 12.1 11.2 9.7 6.5 6.0 0.2 0.2 -0.3 -0.3 -0.0 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 Net Debt/ Equity (x) Net Debt/ (cash) (Rs Bn) APL APOLLO TUBES 2.0 2.4 Net cash Net cash 0.1 0.1 -0.2 -0.0 -0.07 -0.11 -3.1
Slide 16: Growing Strength to Strength
Growing Strength to Strength Operating Cashflow to EBITDA (%) Capex to Op. Cash flow (%) 90 87 101 95 94 73 59 69 54 51 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 FCF (Rs Bn) Du-Pont ROE (%) APL APOLLO TUBES 3.7 3.4 5 3.6 28 4 21 3 14 2 0.4 1 7 -0.6 0 0 FY21 FY22 FY23 FY24 FY25 H1FY26 Net
Slide 17: Cash Flow Bridge (Rs Mn)
Cash Flow Bridge (Rs Mn) 6,004 1,028 -3,078 5,115 -1,885 3,047 APL APOLLO TUBES Net cash in FY25 Op Cash flow Capex Investments Dividend & others Net Cash in H1FY26 Business continues to Capex being funded from generate strong Net cash balance sheet internal cash flows operational cash flows 16
Slide 18: Profit & Loss Statement (Consol)
Profit & Loss Statement (Consol) Particulars (Rs Mn) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 FY25 H1FY25 H1FY26 Sales Volume (K Ton) 721 758 828 850 794 855 3,158 1,479 1,649 Net Revenue 49,743 47,739 54,327 55,086 51,698 52,063 2,06,895 97,482 1,03,761 Raw Material Costs 42,697 42,419 46,623 46,9
Slide 19: Balance Sheet & Cash flow (Consol)
Balance Sheet & Cash flow (Consol) Balance Sheet - Assets (Rs mn) FY25 H1FY26 Cashflow Statement (Rs mn) FY25 H1FY26 Cash & Bank Balance 9,199 12,060 EBITDA 11,990 8,190 Receivables 2,673 2,812 Change in receivables -1,329 -147 Inventories 16,232 19,343 Change in inventory 125 -3,124 Other current a
Slide 20: Demand Drivers
DEMAND DRIVERS 19
Slide 21: Structural Steel Tube Applications
Structural Steel Tube Applications Application Mix 4% 13% Housing Commercial buildings 19% Infrastructure 64% Others APL APOLLO TUBES *As per H1FY26 revenue 20
Slide 22: 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 23: 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 24: 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 23 125 23 50 35 43 Steel Tubes PVC pipes Tiles Wires Cement Paints Steel PVC pipes Tiles Wires Cement Paints tubes Steel Tube applicat
Slide 25: Applications for Heavy Structural Steel Tubes
Applications for Heavy Structural Steel Tubes ● High Rise Buildings ○ Hospitals, Housing, Schools, Courts, Hotels/Malls/Offices ● Warehouses/Cold Storage/Food Parks 50 50mn sq. ft. 220,000 ton ● Factory Buildings/Process Structures projects Visibility heavy structural steel tubes ● Aviation Hangers
Slide 26: APL Apollo's ESG Transformation Journey
APL Apollo’s ESG Transformation Journey 25
Slide 27: 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 26
Slide 28: 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 • RE installations in include raw materials Scope 1, 2, 3 and ABPL plant (Steel Coils) set as baseline • RE expansions in Boundary of S
Slide 29: 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 30: 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 31: 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 32: 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 33: 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 More than 20 years of A promising entrepreneur with industry experience in the an experience of around 10 2 deca
Slide 34: Our Leadership
Our Leadership Vinay Gupta Rahul Gupta Deepak Goyal CK Singh Director Director Director-Operations Director & COO Vipul Jain APL APOLLO TUBES Anubhav Gupta Chetan Khandelwal Utkarsh Dwivedi Chief Strategy Officer Chief Financial Officer Company Secretary CEO - Dubai Operations Sanjay Gupta Chairman
Slide 35: 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
Slide 36: Press release: Q2FY26 Financial Performance
APL Apollo Tubes Limited Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi – 110 092 Corp. Office: SG Centre, Plot No. 37-C, Block-B, Sector-132, Noida, Distt. Gautam Budh Nagar, U.P.-201304 Q2FY26 Financial Performance • Sales volume of 855,037 Ton (+13% YoY, +8% QoQ) • EBITDA of Rs4.5bn (+224
Slide 37: About APL Apollo Tubes Limited
About APL Apollo Tubes Limited APL Apollo Tubes Limited (APL Apollo) BSE: 533758, NSE: APLAPOLLO is India’s leading structural steel tube manufacturer. Headquartered at Delhi NCR, the Company operates 11 manufacturing facilities with a total capacity of 4.5 Mn Ton. It has a pan-India presence with 1