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 is Rs 1032.25. 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 25713.82 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-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3446.87 Crore, down -18.43 % from last quarter Total Income of Rs 4225.74 Crore and up 35.46 % from last year same quarter Total Income of Rs 2544.51 Crore. Company reported net profit after tax of Rs 120.67 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 34.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.64 per cent, DIIs 11.17 per cent.