APOLLOPIPE
Apollo Pipes (APOLLOPIPE)
Latest view
—
as of 4 Mar 2026 · not a recommendation
Evidence timeline
4 Mar
2026
2026
Apollo Pipes (APOLLOPIPE) — Investment Thesis
—/r/thesis/APOLLOPIPE_2026-03-04.html
4 Mar
2026
2026
APOLLOPIPE — Thesis
—/r/thesis/APOLLOPIPE_2026-03-04.pdf
What management said
from NSE earnings-call filings · extracted, not interpreted
guidance downgradedrevenue growth 35.0%margin 10.0%volume growth 10.0%generic growth 10.0%
As we move forward, we have drawn a 5-year growth plan to achieve 35% revenue CAGR and hit INR5,000 crores revenue by FY31.
Call 11-May-2026 · transcript PDF
Pace against its own guidance
FY27
one quarter filed — the pace is shown, not judged
guided 35.0%
filed 7.3%
1 of 4 quarters
Outlook, as stated
Stated target · ₹5000.0 crore revenue by
FY31, from ₹1125.0 crore
trailing — 34.8% a year
Just coming to your numbers here, what would be the revised guidance now given that you were guiding for low to mid-double-digit volume growth and EBITDA per ton of around INR11,000 for Apollo and Kisan around INR7,000.
Sameer Gupta: Again, to your previous question, after ADD, we expect an increase of 7% to 8% in the PVC resin prices from the current Reliance prices that we expect, but we don't know what exactly the ADD will be.
Thirdly, now that it has been like 1-1.5years of dull demand from the government side, we are also not building too much expectations into our business model for FY '27, FY '28 from the government-led demand.
3.87
concrete references per 100 words spoken — counts, currency, units and
named periods, not adjectives
Chart exhibits
as drawn · not updated since
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
APOLLOPIPE
FY26 → FY31 · 5 years of guidance · ~4.7 years from today₹516 today
BEAR
₹88
-83%-32% a yr
20.2% a year · 20.6x exit
BASE
₹275
-47%-13% a yr
35% a year · 36x exit
BULL
₹499
-3%-1% a yr
47.6% a year · 42x exit
Where the market has priced it
16x303x today — outside the range64x
- this company has too little filed history for a multiple band of its own, so the exit multiple is the median of 10 Miscellaneous Manufacturing peers
- FY27 one quarter filed — the pace is shown, not judged: guided +35.0%, filed +7.3% across 1 quarter(s)
- at 303x its FY26 earnings the stock already trades above the top of its own ten-year range (42x)
- the range is unusually wide — read it as the span of management's own claim, not as a forecast
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹1.7 (screener) |
|---|---|
| Guided growth | 35% a year, said on the call of 11-May-2026 · transcript |
| Read across as | operating: revenue growth, margin held flat — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 20.58x / 36x / 42x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 36x across 10 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)5 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
Price chart
260 sessions to 31 Jul 2026 ·
daily close ·
our own broker data