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Buy Metro Brands Ltd For Target Rs. 1,460 By Motilal Oswal Financial Services Ltd Marginal dip in PAT despite weak SSS * Metro’s revenue declined 1% YoY (9% miss), due to weak same-store sales (SSS); however, store additions supported revenue. A higher contribution of INR3,000+ ASP products and own-brand products boosted gross margins. Controlled costs and higher gross margins restricted the decline in EBITDA/PAT to only 3%/2% (11% miss). * In the near term, we believe that soft demand, delayed BIS implementation (which delayed FILA’s repositioning), and ...
Buy Metro Brands Ltd For Target Rs. 1,460 By Motilal Oswal Financial Services Ltd
Buy Metro Brands Ltd For Target Rs. 1,460 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-09-09 03:23:08 pm
Buy APL Apollo Tubes Ltd For Target Rs. 1,720 By Motilal Oswal Financial Services Ltd Muted earnings as volume growth offset by margin contraction Earnings below our estimates * APL Apollo Tubes (APAT) reported healthy sales volume of 721kmt (up 9% YoY/6% QoQ) in 1QFY25, led by the ramp-up of its Raipur and Dubai plants. However, EBITDA/MT fell ~10% YoY to ~INR4,183, due to high operational expenses (high employee, freight, power cost and ad spending in 1Q). * We cut our FY25E/FY26E earnings by 13%/12%, primarily due to lower EBITDA/MT (reduced by 8% for both years). ...
Buy APL Apollo Tubes Ltd For Target Rs. 1,720 By Motilal Oswal Financial Services Ltd
Buy APL Apollo Tubes Ltd For Target Rs. 1,720 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd Ltd
2024-09-09 01:51:58 pm
Buy APL Apollo Tubes Ltd For Target Rs. 1,895 By Yes Securities An ideal proxy to strong construction demand We initiate coverage on APL Apollo Tubes Ltd (APL) with a BUY rating on the following conviction (i) company’s substantial ~55% market share in the buoyant structural steel tubes industry (HRC Coil based), (ii) growth boost from new capacities, (iii) higher share of value-added products, (iv) remarkable product innovation & growing industry applications (v) healthy FCF generation & superior return ratios. Indian structural steel...
Buy APL Apollo Tubes Ltd For Target Rs. 1,895 By Yes Securities
Buy APL Apollo Tubes Ltd For Target Rs. 1,895 By Yes Securities
Source: Yes Securities Ltd.
2024-07-02 12:41:01 pm
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services Muted volume and margin contraction hurt earnings Earnings below our estimate * APL Apollo Tubes (APAT) reported muted sales volume of 679KMT (up 4% YoY and 12% QoQ) in 4QFY24, led by channel de-stocking due to steel price corrections. Further, EBITDA/MT declined ~17% YoY to ~INR4,132, due to higher rebates and discounts offered by APAT to counter the inventory destocking. * We cut our FY25E earnings by 8% due to lower EBITDA/MT (reduced by 4%), while largely maintaining our earning...
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-06-25 11:48:59 am
Buy APL Apollo Tubes Ltd. For Target Rs. 1,800 - Motilal Oswal Financial Services Muted volume and margin contraction hurt earnings Earnings below our estimate * APL Apollo Tubes (APAT) reported muted sales volume of 679KMT (up 4% YoY and 12% QoQ) in 4QFY24, led by channel de-stocking due to steel price corrections. Further, EBITDA/MT declined ~17% YoY to ~INR4,132, due to higher rebates and discounts offered by APAT to counter the inventory destocking. * We cut our FY25E earnings by 8% due to lower EBITDA/MT (reduced by 4%), while largely maintaining our earning...
Buy APL Apollo Tubes Ltd. For Target Rs. 1,800 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd. For Target Rs. 1,800 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-06-24 11:53:23 am
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services Navigating market challenges APL Apollo Tubes (APAT) ended FY24 with a healthy sales volume growth of ~15% YoY, despite the relatively subdued volume growth of just 2% YoY in 2HFY24. In this report, we have highlighted the current demand trend in the domestic structural tubes industry based on our channel checks. We have also underscored the company’s strategy to foray into various international geographies. * Based on our channel checks, we anticipate that the overall demand scen...
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd. For Target Rs.1,800 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-06-07 10:33:57 am
Accumulate APL Apollo Tubes for Target Rs.1,628 by Elara Capitial Higher discount hurts margin In-line revenue; EBITDA below our estimates APL Apollo Tubes (APAT IN) net sales improved ~6% YoY and ~13% QoQ to ~INR 45.7bn, largely in line with our and Consensus estimates of ~INR 44bn and ~INR 45bn, respectively. However, EBITDA declined ~13% YoY and remains flat QoQ at INR 2.8bn, slightly below our and Consensus estimates of ~INR 3.0bn and INR 3.1bn, respectively. PAT fell ~16% YoY but rose~3% QoQ to ~INR 1.7bn. Net cash was ~INR 0.2bn as on end-FY24 ...
Accumulate APL Apollo Tubes for Target Rs.1,628 by Elara Capitial
Accumulate APL Apollo Tubes for Target Rs.1,628 by Elara Capitial
Source: Elara Capital
2024-06-05 01:50:21 pm
APL Apollo Tubes declines on reporting 16% fall in Q4 consolidated net profit APL Apollo Tubes is currently trading at Rs. 1530.55, down by 3.75 points or 0.24% from its previous closing of Rs. 1534.30 on the BSE. The scrip opened at Rs. 1494.65 and has touched a high and low of Rs. 1534.00 and Rs. 1437.85 respectively. So far 38422 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1806.20 on 06-Sep-2023 and a 52 week low of Rs. 1046.55 on 22-May-2023. Last one week high and low of the scri...
APL Apollo Tubes declines on reporting 16% fall in Q4 consolidated net profit
APL Apollo Tubes declines on reporting 16% fall in Q4 consolidated net profit
Source: Accord Fintech
2024-05-13 12:55:38 pm
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd Subdued volumes due to channel destocking Earnings in line with our estimate * APL Apollo Tubes (APAT) reported muted sales volume at 604KMT (flat YoY, down 11% QoQ) in 3QFY24, led by channel de-stocking in anticipation of steel price corrections (down 12% from the peak level). However, EBITDA grew ~2% YoY to ~INR2.8b, led by 3% YoY growth in EBITDA/MT on account of an improved value-added product (VAP) mix at ~59% in 3QFY24 v/s 56% in 3QFY23. * We largely maintain our FY24/FY26 ear...
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd
Source: motilal oswal financial services Ltd
2024-04-27 12:09:17 pm
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd Subdued volumes due to channel destocking Earnings in line with our estimate * APL Apollo Tubes (APAT) reported muted sales volume at 604KMT (flat YoY, down 11% QoQ) in 3QFY24, led by channel de-stocking in anticipation of steel price corrections (down 12% from the peak level). However, EBITDA grew ~2% YoY to ~INR2.8b, led by 3% YoY growth in EBITDA/MT on account of an improved value-added product (VAP) mix at ~59% in 3QFY24 v/s 56% in 3QFY23. * We largely maintain our FY24/FY26 ear...
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd
Buy APL Apollo Tubes Ltd For Target Rs.1,770 - Motilal Oswal Financial Services Ltd
Source: motilal oswal financial services Ltd
2024-04-23 01:00:20 pm
Buy APL Apollo Tubes Ltd. For Target Rs.1770 By Motilal Oswal Financial Services Earnings in line with our estimate -      APL Apollo Tubes (APAT) reported muted sales volume at 604KMT (flat YoY, down 11% QoQ) in 3QFY24, led by channel de-stocking in anticipation of steel price corrections (down 12% from the peak level). However, EBITDA grew ~2% YoY to ~INR2.8b, led by 3% YoY growth in EBITDA/MT on account of an improved value-added product (VAP) mix at ~59% in 3QFY24 v/s 56%...
Buy APL Apollo Tubes Ltd. For Target Rs.1770 By Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd. For Target Rs.1770 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-04-17 09:10:04 am
Accumulate APL Apollo Tubes for Target Price 1,679 - Elara Capital Destocking hurts volume Broadly in-line performance  APL Apollo Tubes’ (APAT IN) Q3FY24 net sales fell ~4% YoY and ~10% QoQ to ~INR 40bn. Also, EBITDA grew ~2% YoY but fell ~14% QoQ to ~INR 2.8bn. Net sales and EBITDA were mostly in line with our expectations of ~INR 39.8bn and ~INR 2.9bn, respectively. PAT declined ~2% YoY and ~18% QoQ to ~INR 1.7bn.   EBITDA/tonne up ~3% YoY but down ~4% QoQ Sales volume was flat YoY but dropped ~11% QoQ to 0.60mn tonnes, du...
Accumulate APL Apollo Tubes for Target Price 1,679 - Elara Capital
Accumulate APL Apollo Tubes for Target Price 1,679 - Elara Capital
Source: Elara Capital
2024-02-21 02:01:00 pm
India`s APL Apollo Tubes misses Q2 profit view on higher costs India's reported a smaller-than-expected quarterly profit on Monday, as higher costs and lower steel pipes' prices offset strong domestic demand. The steel tube maker's consolidated profit rose 35% to 2.03 billion rupees ($24.40 million) in the second quarter, but missed analysts' average estimate of 2.22 billion rupees, according to LSEG data. Total expenses climbed nearly 16% to 43.73 billion rupees, with costs of raw materials rising 22%. That overshadowed a 10% incre...
India`s APL Apollo Tubes misses Q2 profit view on higher costs
India`s APL Apollo Tubes misses Q2 profit view on higher costs
Source: Reuters
2023-10-30 05:14:23 pm
Buy APL Apollo Tubes Ltd For Target Rs.1930 - Motilal Oswal Financial Services Raipur Plant to boost APAT?s margins through innovative product offeringsWe visited the recently commissioned Raipur plant of APAT and interacted with some of the key personnel. The inception of the Raipur plant dates back to FY21, initiated by APL Apollo Building Products Pvt Ltd. (ABPL), a wholly owned subsidiary of APAT, located in Village Simga, Baloda bazar district in Chhattisgarh (almost 60 Km from Raipur Airport). Key aspects of this plant are:* It is the largest plant for the company...
Buy APL Apollo Tubes Ltd For Target Rs.1930 - Motilal Oswal Financial Services
Buy APL Apollo Tubes Ltd For Target Rs.1930 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-10-05 04:37:33 pm