APL Apollo Tubes 3QFY26 Call: Capacity Expansion to 10M Tons by 2030, EBITDA/Ton Guidance Raised to ₹5,500
APL Apollo Tubes reported strong 9-month sales volume growth of 11% YoY and surpassed ₹5,000 EBITDA/ton. The company raised its volume growth guidance to 20% for 4QFY26 and FY27, with EBITDA/ton guidance increased to ₹5,500. Capacity is set to expand to 8 million tons in two years and 10 million tons by 2030, with an investment of ₹1,500 crores.
The significant increase in EBITDA per ton guidance, aggressive capacity expansion plans to 10 million tons by 2030, and the focus on achieving a liability-free balance sheet have a substantial impact on the company's future growth prospects and investor sentiment.
The company has provided strong performance updates, raised future guidance for volume growth and EBITDA per ton, and outlined ambitious capacity expansion plans, all of which are positive indicators for investors.
APL Apollo Tubes Limited hosted a conference call on January 22, 2026, to discuss its 3QFY26 results and future outlook. The company reported a strong performance with a 9-month sales volume increase of 11% YoY, exceeding its guidance. The EBITDA per ton for the 9-month period surpassed ₹5,000, driven by successful pricing premiumization and the launch of the SG brand.
The company highlighted that the APL Apollo-branded products now command a ₹3,000 to ₹4,000 per ton premium, indicating market acceptance of its brand equity. In December 2025, APL Apollo sold 375,000 tons, achieving nearly 90% utilization of its 5 million ton capacity.
Looking ahead, APL Apollo is significantly upgrading its sales volume growth guidance to 20% for 4QFY26 and FY27, with an enhanced EBITDA guidance of ₹5,500 per ton. The company is aggressively pursuing capacity expansion, aiming to reach 8 million tons from the current 5 million tons within the next two years. This expansion includes four greenfield projects (two in East India, one in South India, one in West India) and one brownfield project in Raipur for value-added products, requiring an investment of approximately ₹1,500 crores funded by internal cash flows.
Furthermore, APL Apollo has a long-term vision of achieving 10 million tons of steel tube capacity by 2030. This includes an additional 2 million tons in the super specialty segment, with plans for joint ventures with global companies in sectors like EV, aerospace, petrochem, and oil and gas. The company also emphasized its focus on cost control measures and efficient working capital management, aiming to reduce inventory days to 20 and achieve a liability-free balance sheet. This strategy is expected to boost ROCE to sub-40% levels from the current 33%. The company also plans to increase its minimum dividend payout policy to 25%.
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APL Apollo Tubes Limited filed this with the NSE as a statutory disclosure, categorised under concall scheduled. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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