Apollo Pipes Limited (APOLLOPIPE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-66.4%

₹172.10

vs ₹512.65 price

Levered DCF

-₹264.34

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	391.18×	54.68×	59.88×	90.12×	38.31×	29.13×	11.24×	21.96×
P/B	3.58×	2.16×	4.47×	4.71×	4.7×	3.69×	1.05×	2.29×
P/S	2.65×	1.45×	2.61×	2.36×	2.44×	2.51×	0.79×	1.46×
EV / EBITDA	38.62×	17.45×	25.98×	30.68×	19.73×	16.4×	7.24×	12.83×
Gross margin	15.5%	30.0%	12.8%	24.2%	24.6%	27.8%	27.0%	24.8%
Operating margin	0.9%	22.1%	6.7%	4.6%	8.9%	11.1%	8.6%	8.3%
Net margin	0.7%	2.8%	4.4%	2.6%	6.4%	8.6%	7.0%	6.6%
Current ratio	1.37×	1.7×	1.14×	1.67×	2.25×	2.1×	2.07×	2.87×
Debt / equity	0.15×	0.12×	0.14×	0.1×	0.1×	0.18×	0.29×	0.49×
Interest coverage	0.92×	23.8×	11.44×	4.46×	15.8×	12.66×	5.5×	4.87×
Dividend yield	0.1%	0.2%	0.1%	0.2%	0.0%	0.0%	0.5%	0.0%
Payout ratio	41.2%	12.7%	5.5%	16.4%	0.0%	0.0%	5.5%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.9%	4.1%	7.5%	5.2%	12.3%	12.7%	9.3%	10.4%
Return on invested capital	0.5%	19.8%	5.7%	6.1%	11.5%	10.1%	6.7%	6.1%
Return on assets	0.6%	2.7%	4.2%	3.6%	9.1%	9.0%	5.9%	6.1%
Free cash flow yield	-4.3%	-6.5%	1.0%	-0.2%	-0.3%	-4.1%	-14.6%	-3.8%
Earnings yield	0.3%	1.9%	1.7%	1.1%	2.6%	3.4%	8.9%	4.6%
Enterprise value	₹29.7B	₹16.7B	₹25.9B	₹21.6B	₹19.2B	₹13.6B	₹4.1B	₹6.4B
Net debt / EBITDA	0.54×	-0.41×	0.28×	0.14×	0.12×	0.76×	1.59×	2.26×
Cash conversion cycle (days)	55	48	42	56	84	88	79	68