reports
- Sumant Kumar
MOSL: APL APOLLO TUBES: Robust volume growth aided by improving on the...
. APL APOLLO TUBES: Robust volume growth aided by improving on the ground situation (APAT IN, Mkt Cap USD3.4b, CMP INR1126, TP INR1330, 18% Upside, Buy) APL Apollo Tubes (APAT)’s long-term growth story remains intact underpinned by growing application and rising consumption of structural steel tubes in residential & commercial buildings, warehouses, factories, agriculture and other infrastructure works. The industry, post-inventory destocking in the last quarter because of higher steel prices...
- Sumant Kumar
MOSL: APL APOLLO TUBES: Channel destocking dampens operating performan...
APL Apollo Tubes (APAT) reported a weak operating performance with 14%/ 33% YoY decline in Gross Profit/EBITDA per MT, respectively, in 1QFY23. The result was adversely impacted by the industry-wide channel destocking prompted by the correction in domestic HRC prices and lower share of value added products (VAP). We retain our FY23E/FY24E earnings as APAT is likely to maintain its growth trajectory underpinned by a strong demand outlook. We value the stock at 33x FY24E EPS to arrive at our TP...
APL APOLLO TUBES sees an upgrade to Slightly Positive due to a better ...
The general evaluation of APL APOLLO TUBES (IN), a company active in the Steel industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 11, 2022, the closing price was INR 900.1...
- Sumant Kumar
MOSL: APL APOLLO TUBES (Buy) (Initiating Coverage): The new normal!; B...
APL APOLLO TUBES (Initiating Coverage): The new normal!; Buy with TP of INR2065, 21% upside (APAT IN, Mkt Cap USD2.9b, CMP INR1702, TP INR2065, 21% Upside, Buy) APL Apollo Tubes (APAT) is the largest manufacturer of Structural Steel Tubes in India, which finds applications in residential and commercial buildings, warehouses, factories, Agriculture, and other Infrastructure works. It enjoys ~50% market share in India, and operates through a network of 10 plants, over 800 distributors, more t...
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