Buy APL Apollo Tubes, target price Rs 1100: Axis Securities

Axis Securities has buy call on APL Apollo Tubes with a target price of Rs 1100. The current market price of APL Apollo Tubes Ltd. is Rs 860.25. 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 21475.32 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 31-03-2022, the company reported a Consolidated Total Income of Rs 4225.74 Crore, up 30.49 % from last quarter Total Income of Rs 3238.29 Crore and up 62.55 % from last year same quarter Total Income of Rs 2599.61 Crore. Company reported net profit after tax of Rs 176.61 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 34.52 per cent stake in the company as of 31-Mar-2022, while FIIs owned 23.29 per cent, DIIs 11.12 per cent.