Apl Apollo Tubes Limited · NSE:APLAPOLLO
Apl Apollo Tubes — Q4 FY26 Earnings Presentation
71 slides from Apl Apollo Tubes's earnings presentation, May 2026
Slide 1: Investor Presentation Q4FY26
“India is ready and so we are” Revolutionizing the world of tube Tubes from 8*8mm to 1000*1000mm with 0.18mm to 40mm Thickness Investor presentation Q4FY26
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: Architecture Of Returns
Architecture Of Returns CAGR Growth (%) 10 Year (FY16-26) 5 Year (FY21-FY26) 2 Year (FY24-26) Sales Volume 15% 16% 15% EBITDA 22% 23% 20% APL APOLLO TUBES Net Profit 27% 28% 28%
Slide 6: 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 65% Market Share 3,382 Employees 800+ Distributors APL APOLLO TUBES 5 Million Ton, Structural Steel Capacity 5,000+ Products *Market share is for F Y26 6
Slide 7: India's Leading Building Material Brand
India’s Leading Building Material Brand 7
Slide 8: 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 9: 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 10: Brand Equity
APL APOLLO TUBES Brand Equity 10
Slide 11: 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 12: Core Competence
CORE COMPETENCE APL APOLLO TUBES 12
Slide 13: Porter's Five Forces
Porter’s Five Forces Threat of Entry Bargaining power of distributors • Scale of 5 Mn ton capacity; wide gap • 65% 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 14: 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 15: Dominant Leadership
Dominant Leadership APL's Market Share (%) Peer Market Share FY26 65 9% 55 55 55 55 50 4% APL Apollo 5% Player 1 Player 2 65% 8% Player 3 Player 4 Others 9% FY21 FY22 FY23 FY24 FY25 FY26 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 FY24
Slide 16: 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 17: Capacity Expansion Plan By FY28
Capacity Expansion Plan By FY28 Existing capacity Greenfield & Brownfield Debottlenecking Total capacity capacity 5 Mn Ton 2 Mn Ton 1 Mn Ton Structural Steel • East (Gorakhpur, Siliguri) • South (Malur) • Plant Modernization 8 Mn Ton • Western coastal area • Replacement of conventional mills with St
Slide 18: 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 19: Demand Drivers
DEMAND DRIVERS
Slide 20: Structural Steel Tube Applications
Structural Steel Tube Applications Application Mix 4% 13% Housing Commercial buildings 19% 64% Infrastructure APL APOLLO TUBES Others *As per FY26 revenue
Slide 21: India Structural Steel Tube Market Potential
India Structural Steel Tube Market Potential Structural steel tubes as % of steel market Total steel consumption in India (Mn Structural steel tubes in India (FY26) Ton) (Mn Ton) 10.0 225 18.3 9.0 9.0 8.0 8.0 168 7.0 6.0 10.0 Global Europe LAT-AM Japan Middle North India East America FY26 FY31E FY26
Slide 22: 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 23: 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 24: 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 25: Business Strategy
Capex Plan for Distribution value addition Enhancement BUSINESS STRATEGY APL APOLLO TUBES Market Creation Innovation
Slide 26: 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 27: 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 27
Slide 28: 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 29: What we have done so far as the first company: Global Markets
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 29
Slide 30: Products and Registered Patents
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 31: 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 32: Market Creation
MARKET CREATION APL APOLLO TUBES 32
Slide 33: 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 34: Revolutionizing Construction Industry
REVOLUTIONIZING CONSTRUCTION INDUSTRY APL APOLLO TUBES 34
Slide 35: 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 36: Completed Delhi Hospitals
Completed Delhi Hospitals • GTB Nagar • Shalimar Bagh • Sultanpuri • Geeta Colony • Sarita Vihar • Raghuvir Nagar APL APOLLO TUBES 36
Slide 37: Ongoing Hospitals
Ongoing Hospitals • Mumbai • Imphal • Shillong • New Delhi • Mathura APL APOLLO TUBES 37
Slide 38: Educational Projects
Educational Projects • National Sports University • IIT Roorkee • IP University • Amity University APL APOLLO TUBES 38
Slide 39: Educational Projects (contd..)
Educational Projects (contd..) • IILM University • Mathura Medical College • GLA University • Thapar University • Modern School APL APOLLO TUBES 39
Slide 40: Residential Projects
Residential Projects Army Housing, Delhi APL APOLLO TUBES 40
Slide 41: Commercial Projects
Commercial Projects • Orissa Tower 1 • Orissa Tower 2 • Triveni Mall, Bangaluru • Faridabad • Experience Centre, Noida • Yatri Niwas, Amarnath • Restaurant, Uttar Pradesh APL APOLLO TUBES 41
Slide 42: Railway Stations
Railway Stations • Andhra Pradesh • Karnataka • Maharashtra 1 • Maharashtra 2 • Telangana • Rajasthan 1 • Uttar Pradesh 1 • Bihar APL APOLLO TUBES 42
Slide 43: 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 43
Slide 44: Airports Projects
Airports Projects • Rajasthan 1 • Uttar Pradesh 1 • Rajasthan 2 • Jammu Kashmir • Andhra Pradesh 1 • West Bengal APL APOLLO TUBES 44
Slide 45: 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 45
Slide 46: Industrial Projects
Industrial Projects • Shakya Warehouse • Star Cement • Joyce Agro • ABPL Shed • Tricoat Shed • Cement shed, Rajasthan APL APOLLO TUBES 46
Slide 47: Industrial Projects (contd..)
Industrial Projects (contd..) • Dujana Shed • Birla Cement • Carbon Circle • TG Shed • Automobile factory • Clinker • Tea Factory • Ethanol plant • Evolvepack Shed 47
Slide 48: 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 49: Vision FY28
Vision FY28 ✓ Capacity: 8 Mn Tons 1 Dominant position with 65%+ 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 50: APL Apollo's ESG Transformation Journey
APL Apollo’s ESG Transformation Journey 50
Slide 51: ESG- DJSI Scoring
ESG- DJSI Scoring DJSI Percentile (%) 89 91 86 80 56 2021 2022 2023 2024 2025 APL APOLLO TUBES APL APOLLO SCORED 91TH PERCENTILE IN 2025 51
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 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 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) 3,491 18,019 3,158 2,618 2,280 11,922 11,990 9,452 10,215 1,633 1,640 1,755 1,339 6,787 1,130 894 932 4,774 3,330 3,710 3,928 2,817 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY2
Slide 60: Growing Strength To Strength
Growing Strength To Strength Volume (K Ton) EBITDA (Rs Mn) 3,491 18,019 3,158 2,618 2,280 11,922 11,990 9,452 10,215 1,755 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 PAT (Rs Mn) APL APOLLO TUBES 12,031 7,324 7,570 6,190 6,419 FY22 FY23 FY24 FY25 FY26
Slide 61: Growing Strength To Strength
Growing Strength To Strength ROE (%) ROCE (%) 37.3 28.9 33.0 25.3 27.7 27.5 23.5 24.5 22.2 19.4 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Interest Coverage Ratio (x) Net Working Capital Days APL APOLLO TUBES 19.7 7 13.9 13.4 5 9.6 8.2 1 0 0 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 N
Slide 62: Growing Strength To Strength
Growing Strength To Strength Operating Cash Flow (Rs Bn) Net Debt/EBITDA (x) 20.0 0.2 0.2 -0.3 -0.9 11.2 12.1 9.7 -0.0 6.5 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Net Debt/ Equity (x) Net Debt/ (cash) (Rs Bn) APL APOLLO TUBES 0.1 0.1 -0.1 -0.3 2.4 -0.0 2.0 Net cash Net cash -0.2 -3.1 FY22
Slide 63: Growing Strength To Strength
Growing Strength To Strength Operating Cashflow to EBITDA (%) Capex to Op. Cash flow (%) 90 87 111 101 95 94 59 54 69 33 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Free Cash Flow (Rs Bn) Du-Pont ROE (%) 13.4 APL APOLLO TUBES 5 28 4 21 3 14 3.6 3.7 2 1 7 -0.6 0.4 0 0 FY21 FY22 FY23 FY24 FY25 F
Slide 64: Cash Flow Bridge (Rs Mn)
Cash Flow Bridge (Rs Mn) 20,023 1,026 -6,520 15,323 -2,253 APL APOLLO TUBES 3,047 Net cash in FY25 Op. Cash flow Capex Investments Dividend & others Net Cash in FY26 Business continues to Capex being funded from generate strong Net cash balance sheet internal cash flow operational cash flow
Slide 65: Profit & Loss Statement (Consol)
Profit & Loss Statement (Consol) Particulars (Rs Mn) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY25 FY26 Sales Volume (K Ton) 721 758 828 850 794 855 917 925 3,158 3,491 Net Revenue 49,743 47,739 54,327 55,086 51,698 52,063 58,151 62,692 2,06,895 2,30,790 Raw Material Costs 42,697 42,4
Slide 66: Provisional Balance Sheet & Cash flow (Consol)
Provisional Balance Sheet & Cash flow (Consol) Balance Sheet - Assets (Rs mn) FY25 FY26 Cashflow Statement (Rs mn) FY25 FY26 Cash & Bank Balance* 9,199 19,847 EBITDA 11,990 18,019 Receivables 2,673 3,507 Change in receivables -1,329 -1,026 Inventories 16,232 14,453 Change in inventory 125 1,749 Othe
Slide 67: Yearly Revenue Mix
Yearly Revenue Mix FY22 FY23 FY24 FY25 FY26 Product Sales EBITDA/To Sales Application Vol. Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Sales Mix Vol. EBITDA/Ton Category Mix n Mix (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) (%) (KTon) (Rs) Heavy 7 121 7,42
Slide 68: Global Peer Benchmarking
Global Peer Benchmarking 225 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 69: 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 70: Our Leadership
Our Leadership Vinay Gupta Deepak Goyal Anubhav Gupta Rahul Gupta Director-Operations & Chief Strategy Officer Director Director Group CFO APL APOLLO TUBES CK Singh Chetan Khandelwal Ravindra Tiwari Director & COO Chief Sales & Marketing Officer Sanjay Gupta Chief Financial Officer Chairman & Managi
Slide 71: 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