Buy APL Apollo Tubes, target price Rs 1020: ICICI Securities

ICICI Securities has buy call on APL Apollo Tubes with a target price of Rs 1020. The current market price of APL Apollo Tubes Ltd. is Rs 760.6. Time period given by analyst is one year when APL Apollo Tubes Ltd. price can reach defined target.
APL Apollo Tubes Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 20394.27 Crore) operating in Metals - Ferrous sector.

APL Apollo Tubes Ltd. key Products/Revenue Segments include Pipes & Tubes Steel, Scrap and Export Incentives for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2544.51 Crore, down -2.12 % from last quarter Total Income of Rs 2599.61 Crore and up 128.27 % from last year same quarter Total Income of Rs 1114.68 Crore. Company reported net profit after tax of Rs 168.42 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 36.84 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.24 per cent, DIIs 8.42 per cent.