Buy APL Apollo Tubes, target price Rs 1775: ICICI Securities

ICICI Securities has buy call on APL Apollo Tubes with a target price of Rs 1775. The current market price of APL Apollo Tubes Ltd. is Rs 1555.

APL Apollo Tubes Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 43532.50 Crore) operating in Metals - Ferrous sector.

APL Apollo Tubes Ltd. key Products/Revenue Segments include Pipes & Tubes Steel, Scrap, Export Incentives and Job Work for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 4192.78 Crore, down -9.83 % from last quarter Total Income of Rs 4650.01 Crore and down -3.31 % from last year same quarter Total Income of Rs 4336.40 Crore. Company reported net profit after tax of Rs 165.51 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 29.44 per cent stake in the company as of 31-Mar-2024, while FIIs owned 30.68 per cent, DIIs 14.06 per cent.