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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of Apollo Pipes Ltd

Share Price and Basic Stock Data

Last Updated: July 20, 2024, 11:24 pm

Market Cap 2,570 Cr.
Current Price 622
High / Low799/588
Stock P/E60.6
Book Value 146
Dividend Yield0.10 %
ROCE12.2 %
ROE8.23 %
Face Value 10.0
PEG Ratio7.37

Data Source: screener.in

Competitors of Apollo Pipes Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tijaria Polypipes Ltd 43.5 Cr. 15.229.2/5.05 9.460.00 %5.88 %% 10.0
Ashish Polyplast Ltd 31.2 Cr. 91.695.4/15.332.8 19.10.00 %16.0 %13.9 % 10.0
Dutron Polymers Ltd 103 Cr. 172233/12242.2 44.00.87 %13.2 %9.55 % 10.0
Texmo Pipes & Products Ltd 206 Cr. 70.4108/55.029.3 67.40.00 %10.2 %3.65 % 10.0
Captain Pipes Ltd 264 Cr. 17.928.2/14.166.4 1.730.00 %25.0 %17.5 % 1.00
Industry Average5,894.58 Cr333.0729.7379.540.11%14.96%12.75%7.83

Apollo Pipes Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales128.06174.20137.61208.17190.85247.45218.89207.02236.68251.94260.33249.45221.56
Expenses102.57147.15120.18182.21169.22219.07198.85204.53220.60222.52234.16225.31201.43
Operating Profit25.4927.0517.4325.9621.6328.3820.042.4916.0829.4226.1724.1420.13
OPM %19.90%15.53%12.67%12.47%11.33%11.47%9.16%1.20%6.79%11.68%10.05%9.68%9.09%
Other Income1.862.481.430.121.171.070.820.400.020.721.181.311.09
Interest0.640.901.060.720.761.752.172.182.072.441.520.691.39
Depreciation4.415.815.726.186.657.156.397.037.427.566.657.247.50
Profit before tax22.3022.8212.0819.1815.3920.5512.30-6.326.6120.1419.1817.5212.33
Tax %26.73%27.08%27.57%26.75%26.19%24.09%28.21%24.05%26.48%25.42%27.37%26.20%26.36%
Net Profit16.3316.648.7514.0511.3615.608.83-4.804.8615.0313.9212.929.08
EPS in Rs4.164.232.233.582.893.972.25-1.221.243.823.543.292.31

Last Updated: July 13, 2024, 8:44 pm

Quarterly Chart

Apollo Pipes Ltd Profit & Loss

Last Updated: July 10, 2024, 3:02 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1111-0241284362408518784915998
Expenses00000210251323361444690846903
Operating Profit1111-03133394774946996
OPM %80%78%77%86%13%12%11%11%14%12%8%10%
Other Income-0-0-0-0-02810108323
Interest-0-0-00-043665497
Depreciation-0-0-0-0-057101318262829
Profit before tax1110-02431343861673363
Tax %35%32%34%29%-22%35%29%29%24%27%26%27%
Net Profit0000-01622242944502447
EPS in Rs0.230.240.240.14-0.0710.466.666.657.2611.3212.656.0811.89
Dividend Payout %-0%-0%-0%-0%-0%-0%-0%5%-0%-0%8%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)37.50%9.09%20.83%51.72%13.64%-52.00%75.00%
Change in YoY Net Profit Growth (%)0.00%-28.41%11.74%30.89%-38.09%-65.64%127.00%

Apollo Pipes Ltd Growth

Compounded Sales Growth
10 Years:105%
5 Years:22%
3 Years:24%
TTM:7%
Compounded Profit Growth
10 Years:61%
5 Years:11%
3 Years:-2%
TTM:78%
Stock Price CAGR
10 Years:39%
5 Years:37%
3 Years:24%
1 Year:-16%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:9%
Last Year:8%

Last Updated: July 17, 2024, 5:58 pm

Apollo Pipes Ltd Balance Sheet

Last Updated: July 10, 2024, 3:02 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital555551111121313393939
Reserves4445480102181273338366418518
Borrowings0000020238112906339442
Other Liabilities0000030498510680100161161
Total Liabilities99101010142401391482494544662721
Fixed Assets000007079117154221236281282
CWIP0000001512308767
Investments00010100100044052
Other Assets99100072307262297265296336381
Total Assets99101010142401391482494544662721

Reserves and Borrowings Chart

Apollo Pipes Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 0010-024152612213669123
Cash from Investing Activity 00-100-9-27-44-52-56-37-68-214
Cash from Financing Activity 0000-15215-3920-21-30-876
Net Cash Flow00-00-0203-57-19-56-30-7-14

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow1.001.001.000.0011.00-205.00-73.00-43.0011.0055.0025.0033.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Apollo Pipes Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days000052493653443326
Inventory Days478073104798490
Days Payable39705086493562
Cash Conversion Cycle000060595971748254
Working Capital Days-84-59-85-6257-394363746856
ROCE %6%6%6%7%-1%45%15%13%13%16%17%9%

Financial Efficiency Indicators Chart

Apollo Pipes Ltd Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Apr 2024
Promoters52.03%52.03%52.03%52.03%52.03%52.03%52.03%50.80%50.80%50.80%50.77%48.32%
FIIs1.91%1.21%1.04%1.01%2.21%2.38%2.71%2.56%2.67%3.23%4.24%4.03%
DIIs9.54%10.85%11.32%11.92%11.76%12.17%12.65%13.09%14.87%14.70%14.68%13.97%
Public35.75%35.14%34.97%34.41%33.35%32.78%32.07%33.01%31.11%30.74%29.87%33.26%
Others0.76%0.76%0.63%0.63%0.63%0.63%0.53%0.53%0.53%0.53%0.43%0.41%
No. of Shareholders18,36039,78342,98840,10640,60539,77637,58135,24538,47241,44340,99941,000

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Franklin India Smaller Companies Fund2,023,0000.91127.768,6002024-07-2023423.26%
Bandhan ELSS Tax Saver Fund500,0000.4631.588,6002024-07-205713.95%
Bank of India Small Cap Fund180,0000.9211.378,6002024-07-201993.02%
Mahindra Manulife Aggressive Hybrid Fund151,2000.759.558,6002024-07-201658.14%
Navi ELSS Tax Saver Fund - Regular Plan8,6000.820.548,6002024-07-200%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 17Mar 16Mar 15Mar 14
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)10.8415.8210.0211.630.73
Diluted EPS (Rs.)10.5915.8210.0211.630.73
Cash EPS (Rs.)18.4740.6628.0827.250.72
Book Value[Excl.RevalReserv]/Share (Rs.)145.87141.30110.0190.1418.63
Book Value[Incl.RevalReserv]/Share (Rs.)145.87141.30110.0190.1418.63
Revenue From Operations / Share (Rs.)250.79479.61416.91179.261.46
PBDIT / Share (Rs.)25.3564.5348.4416.781.12
PBIT / Share (Rs.)17.7655.1740.2512.591.12
PBT / Share (Rs.)16.4748.0530.806.911.12
Net Profit / Share (Rs.)10.8831.3019.8923.060.72
NP After MI And SOA / Share (Rs.)10.8815.8210.0211.630.72
PBDIT Margin (%)10.1013.4511.619.3676.55
PBIT Margin (%)7.0811.509.657.0276.55
PBT Margin (%)6.5610.017.383.8576.55
Net Profit Margin (%)4.336.524.7712.8650.02
NP After MI And SOA Margin (%)4.333.292.406.4850.02
Return on Networth / Equity (%)7.4521.4317.2824.243.91
Return on Capital Employeed (%)10.1832.6228.519.885.96
Return On Assets (%)4.236.524.725.453.82
Long Term Debt / Equity (X)0.000.310.470.720.00
Total Debt / Equity (X)0.110.471.041.700.00
Asset Turnover Ratio (%)0.001.950.000.000.00
Current Ratio (X)1.141.901.391.350.29
Quick Ratio (X)0.531.280.990.760.29
Inventory Turnover Ratio (X)0.009.510.000.000.00
Interest Coverage Ratio (X)19.699.065.132.960.00
Interest Coverage Ratio (Post Tax) (X)9.455.393.101.830.00
Enterprise Value (Cr.)2510.26230.26105.73120.6711.20
EV / Net Operating Revenue (X)2.540.960.501.3515.39
EV / EBITDA (X)25.167.144.3714.3920.10
MarketCap / Net Operating Revenue (X)2.540.750.240.6815.45
Price / BV (X)4.364.881.782.581.21
Price / Net Operating Revenue (X)2.540.750.240.6815.45
EarningsYield0.010.040.090.090.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 728.89

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 17.18% compared to the current price 622

Intrinsic Value: 788.85

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 26.83% compared to the current price 622

Last 5 Year EPS CAGR: 8.23%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of 11.58, which is a positive sign.
  2. The company has higher reserves (192.42 cr) compared to borrowings (55.67 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (374.33 cr) and profit (29.50 cr) over the years.
  1. The stock has a low average ROCE of 13.17%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 41.75, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Apollo Pipes Ltd:
    1. Net Profit Margin: 4.33%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 10.18% (Industry Average ROCE: %)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 7.45% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 9.45
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.53
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 60.6 (Industry average Stock P/E: )
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.11
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Apollo Pipes Ltd. is a Public Limited Listed company incorporated on 09/12/1985 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L65999DL1985PLC022723 and registration number is 022723. Currently Company is involved in the business activities of Manufacture of plastics products. Company’s Total Operating Revenue is Rs. 784.08 Cr. and Equity Capital is Rs. 39.33 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Pipes & Fittings37, Hargobind Enclave, Vikas Marg, New Delhi Delhi 110092compliance@apollopipes.com
http://www.apollopipes.com
Management
NamePosition Held
Mr. Sameer GuptaChairman & Managing Director
Mr. Arun AgarwalJoint Managing Director
Mr. Abhilash LalDirector
Mr. Pradeep Kumar JainDirector
Ms. Neeru AbrolDirector
Mr. Ashok Kumar GuptaDirector

FAQ

What is the latest fair value of Apollo Pipes Ltd?

The latest fair value of Apollo Pipes Ltd is ₹728.89.

What is the Market Cap of Apollo Pipes Ltd?

The Market Cap of Apollo Pipes Ltd is 2,570 Cr..

What is the current Stock Price of Apollo Pipes Ltd as on 21 July 2024?

The current stock price of Apollo Pipes Ltd as on 21 July 2024 is 622.

What is the High / Low of Apollo Pipes Ltd stocks in FY 2024?

In FY 2024, the High / Low of Apollo Pipes Ltd stocks is 799/588.

What is the Stock P/E of Apollo Pipes Ltd?

The Stock P/E of Apollo Pipes Ltd is 60.6.

What is the Book Value of Apollo Pipes Ltd?

The Book Value of Apollo Pipes Ltd is 146.

What is the Dividend Yield of Apollo Pipes Ltd?

The Dividend Yield of Apollo Pipes Ltd is 0.10 %.

What is the ROCE of Apollo Pipes Ltd?

The ROCE of Apollo Pipes Ltd is 12.2 %.

What is the ROE of Apollo Pipes Ltd?

The ROE of Apollo Pipes Ltd is 8.23 %.

What is the Face Value of Apollo Pipes Ltd?

The Face Value of Apollo Pipes Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Apollo Pipes Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE