By BullScreen Editorial Team 
Apollo Pipes Limited reported mixed Q4 results 2026, with strong volume growth and revenue expansion offset by a sharp decline in profitability due to higher costs and pressure on margins.
The company posted revenue of ₹347 crore in Q4FY26, up 10% year-on-year from ₹314.8 crore, supported by a 21% rise in sales volumes to 31,366 metric tons. Sequentially, revenue jumped 40% from the December quarter, reflecting a recovery in demand and improved dispatches during the quarter.
However, EBITDA declined 25% YoY to ₹18 crore, while EBITDA margin narrowed sharply to 5.2% from 7.6% a year earlier. Net profit came in at just ₹1 crore compared to ₹9.8 crore in Q4FY25, although the company returned to profit after reporting a loss in the previous quarter.
For the full financial year, Apollo Pipes reported revenue of ₹1,104.9 crore, down 6% YoY, while PAT dropped 77% to ₹7.5 crore. The company cited PVC resin price volatility, delayed plumbing demand due to extended monsoons, and weak infrastructure spending as key challenges affecting profitability during FY26.
Despite the earnings pressure, Apollo Pipes continued expanding its operational footprint. The company strengthened its position through the acquisition of a 61.94% stake in Kisan Mouldings and maintained aggressive capacity expansion plans. Total production capacity currently stands at 2,40,000 tons annually across seven manufacturing facilities.
Management said it aims to increase combined capacity to 288,000 tons over the next two years and remains optimistic about achieving 25%+ revenue CAGR over the medium term as demand conditions improve.
| Metric | Q4FY26 | Q4FY25 | YoY Change |
|---|---|---|---|
| Revenue | ₹347 Cr | ₹314.8 Cr | ↑ 10% |
| Sales Volume | 31,366 MT | 25,991 MT | ↑ 21% |
| EBITDA | ₹18 Cr | ₹24 Cr | ↓ 25% |
| EBITDA Margin | 5.2% | 7.6% | ↓ 244 bps |
| Net Profit (PAT) | ₹1 Cr | ₹9.8 Cr | ↓ 90% |
| Cash Profit | ₹16 Cr | ₹22 Cr | ↓ 27% |
| Metric | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue | ₹1,104.9 Cr | ₹1,182.2 Cr | ↓ 6% |
| Sales Volume | 1,03,752 MT | 99,705 MT | ↑ 4% |
| EBITDA | ₹66.5 Cr | ₹96 Cr | ↓ 31% |
| EBITDA Margin | 6.0% | 8.1% | ↓ 208 bps |
| Net Profit (PAT) | ₹7.5 Cr | ₹32.6 Cr | ↓ 77% |
| ROCE | 1.1% | 6.6% | Lower |
| ROE | 0.8% | 4.2% | Lower |
| Metric | Details |
|---|---|
| Manufacturing Facilities | 7 Plants Across India |
| Total Production Capacity | 2,40,000 Tons Per Year |
| Distribution Network | 1,000+ Channel Partners |
| Product Portfolio | 3,000+ SKUs |
| Major Acquisition | 61.94% Stake in Kisan Mouldings |
| Future Capacity Target | 2,88,000 Tons in 2 Years |
| FY26 Capex | ₹153 Cr |
| Net Debt Position | ₹40 Cr Net Debt |
| Long-Term Revenue Target | 25%+ CAGR Growth |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachHis/12fee00d-d33b-4ea5-9fbd-5864b224c43e.pdf