APL Apollo Q2 Profit Rises 26% to ₹380 Crore YoY

Q2 profit data shows a strong improvement

APL Apollo Tubes Limited reported consolidated net profit of ₹380 crore for the second quarter of FY27. The figure was 25.83% higher than ₹302 crore reported in the corresponding quarter a year earlier. It was also 44.42% above the ₹263.11 crore consolidated net profit reported in Q1 FY27. The reported profit exceeded the analyst consensus estimate of ₹358 crore by 6.15%. The performance was supported by demand in the structural steel tubes segment. The company’s Q2 operating data also pointed to higher sales volumes. The profit figures place the focus on execution, pricing and product mix during the quarter.

Results schedule and exchange disclosures

APL Apollo had informed exchanges that its board would meet on 26 October 2026 to consider unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026. The company also scheduled analyst and investor meetings to discuss Q2 and H1 FY27 results. An exchange intimation dated 21 October referred to the planned investor interaction. Earlier, the company had made a similar disclosure on 17 October. The trading window was stated to be closed until 29 October. Calendar data also listed an earnings release around 25-26 October 2026. These disclosures provide the formal reporting context for the quarter’s financial and operating updates.

Sales volumes rose in the second quarter

The company reported Q2 FY27 sales volume of 963,143 tonnes on 1 October. This represented year-on-year growth of 13% and quarter-on-quarter growth of 29%. Management had previously targeted sales of around 1.0 million tonnes for the quarter. The actual reported volume was close to that target. Higher volume is relevant for a tubes producer because plant utilisation and product mix can affect profit per tonne. Management had also indicated that July volume rose about 20% month on month. The company linked its outlook to demand conditions and its capacity expansion programme.

EBITDA per tonne remained above ₹5,500

APL Apollo said EBITDA per tonne was maintained at ₹5,522. The measure was above ₹4,683 cited for Q1 FY26 and broadly in line with ₹5,525 cited for Q4 FY26. Management attributed the level to better pricing and continued focus on profitability. The company also said gross profit per tonne increased by ₹1,000 quarter on quarter. EBITDA per tonne is a key operating metric for steel tube manufacturers because steel prices and selling prices can move materially across quarters. The data indicates that profitability held up despite the normal volatility associated with the steel value chain. The supplied information did not provide total Q2 EBITDA or margin percentages.

Financial and operating snapshot

Revenue data requires quarter-specific context

The supplied financial snapshot lists revenue of ₹5,606 crore. It shows revenue growth of 8.45% year on year and a decline of 10.57% quarter on quarter. Gross profit was listed at ₹351 crore, down 22.12% quarter on quarter. The source material does not explicitly identify the exact reporting period for these revenue and gross-profit figures. They should therefore be read alongside the broader financial snapshot rather than treated as a confirmed Q2 income statement breakdown. All absolute financial values here are presented in ₹ crore for consistency. The reported profit and volume data remain the main disclosed Q2 indicators in the material provided.

Management retains FY27 growth guidance

Management reiterated guidance for approximately 20% EBITDA growth in FY27. It also retained expectations of 15-20% volume growth for the full year. The company expects absolute EBITDA growth of more than 20%, according to the supplied update. Capacity expansions and a focus on value-added products were identified as supporting factors. These targets are management guidance, not reported outcomes. Their delivery will depend on volumes, realisations, input costs and the pace of new capacity utilisation. No revised annual guidance was indicated in the information provided.

Why volume and product mix matter

Structural steel tubes serve construction, infrastructure and a range of industrial applications. For APL Apollo, rising volumes can support fixed-cost absorption, while pricing discipline can protect per-tonne profitability. The reported 29% sequential volume growth is therefore notable alongside EBITDA per tonne of ₹5,522. Value-added products may also influence the overall product mix and realisations. At the same time, steel-related businesses remain exposed to changes in raw-material prices and market pricing. The available disclosures do not quantify the separate impact of these factors during Q2. Investors will look to the formal result presentation for greater detail on margins, product categories and capacity utilisation.

Market relevance of the reported quarter

The profit figure was higher than the cited consensus estimate, while volume growth showed stronger sequential momentum. Together, these indicators suggest that demand and profitability were both central to the quarter’s performance. The ₹380 crore profit compared with ₹263.11 crore in Q1 FY27 provides the clearest sequential earnings comparison available in the supplied data. Revenue and gross-profit figures should be interpreted carefully because their period labelling is not explicit. The company’s stated full-year targets will remain an important reference point for subsequent quarters. The analyst and investor meeting scheduled around the result announcement may provide further management commentary. For now, the disclosed data show a quarter marked by higher profit, increased volume and stable EBITDA per tonne.

What comes next

APL Apollo’s board meeting on 26 October 2026 was scheduled to approve the unaudited Q2 and H1 FY27 results. Investors will watch for the detailed consolidated financial statements and management commentary from the Q2 and H1 FY27 discussions. Key disclosures to monitor include revenue classification, operating margins, capacity progress and the outlook for volume growth. The company has maintained its FY27 guidance for volume and EBITDA growth. Its reported Q2 sales volume and profitability metrics provide the initial reference points for assessing that guidance. Any further formal exchange filing will add detail to the figures currently available. Until then, the reported ₹380 crore consolidated profit remains the headline indicator from the quarter.